Company registration number 00367296 (England and Wales)
W.H. PEPLOW & SON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
W.H. PEPLOW & SON LIMITED
COMPANY INFORMATION
Directors
Mr W F Peplow
Mr W R H Peplow
Company number
00367296
Registered office
25 High Street
Worcester
Worcestershire
WR1 2QL
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
114 High Street
Stourbridge
West Midlands
DY8 1DZ
W.H. PEPLOW & SON LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
W.H. PEPLOW & SON LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF W.H. PEPLOW & SON LIMITED FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W.H. Peplow & Son Limited for the year ended 31 January 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of W.H. Peplow & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W.H. Peplow & Son Limited and state those matters that we have agreed to state to the board of directors of W.H. Peplow & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W.H. Peplow & Son Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that W.H. Peplow & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of W.H. Peplow & Son Limited. You consider that W.H. Peplow & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of W.H. Peplow & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
8 July 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
W.H. PEPLOW & SON LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
329,707
331,343
Investment property
4
80,000
80,000
409,707
411,343
Current assets
Stocks
150,249
166,566
Debtors
5
7,432
5,648
Cash at bank and in hand
3,671
44,781
161,352
216,995
Creditors: amounts falling due within one year
6
(115,520)
(156,396)
Net current assets
45,832
60,599
Total assets less current liabilities
455,539
471,942
Creditors: amounts falling due after more than one year
7
(25,427)
(32,896)
Provisions for liabilities
9
(56,580)
(62,115)
Net assets
373,532
376,931
Capital and reserves
Called up share capital
10
1,545
1,545
Revaluation reserve
11
64,395
64,395
Capital redemption reserve
1,455
1,455
Other reserves
12
203,441
203,441
Profit and loss reserves
102,696
106,095
Total equity
373,532
376,931

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

W.H. PEPLOW & SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 8 July 2024 and are signed on its behalf by:
Mr W F Peplow
Director
Company registration number 00367296 (England and Wales)
W.H. PEPLOW & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

W.H. Peplow & Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is 25 High Street, Worcester, Worcestershire, WR1 2QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
Nil
Fixtures and fittings
10% on cost
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in other reserves.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

W.H. PEPLOW & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
7
W.H. PEPLOW & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
3
Tangible fixed assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 February 2023 and 31 January 2024
325,000
37,861
362,861
Depreciation and impairment
At 1 February 2023
-
0
31,518
31,518
Depreciation charged in the year
-
0
1,636
1,636
At 31 January 2024
-
0
33,154
33,154
Carrying amount
At 31 January 2024
325,000
4,707
329,707
At 31 January 2023
325,000
6,343
331,343
The revaluation surplus is disclosed in note 11.
2024
2023
£
£
Cost
68,713
68,713
Accumulated depreciation
-
-
4
Investment property
2024
£
Fair value
At 1 February 2023 and 31 January 2024
80,000

The directors have assessed the market value of the property and considers that there has been no significant change in the market value at the year end.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
7,432
5,648
W.H. PEPLOW & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
17,130
10,000
Trade creditors
4,707
10,615
Taxation and social security
5,656
4,158
Other creditors
88,027
131,623
115,520
156,396
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,427
32,896
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank overdrafts
7,130
-
0
Bank loans
35,427
42,896
42,557
42,896
Bank loans are secured by way of a government-backed guarantee.
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
56,580
62,115
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
1,545
1,545
1,545
1,545
W.H. PEPLOW & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
11
Other reserves
2024
2023
£
£
At beginning and end of year
64,395
64,395
12
Revaluation reserve
Revaluation reserve
£
Balance at 31 January 2023
203,441
Deferred tax on revaluation
-
At the end of the year
203,441
13
Ultimate controlling party

The ultimate controlling party is Mr W R H Peplow.

2024-01-312023-02-01false08 July 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr W F PeplowMr W R H Peplowfalsefalse003672962023-02-012024-01-3100367296bus:Director12023-02-012024-01-3100367296bus:Director22023-02-012024-01-3100367296bus:RegisteredOffice2023-02-012024-01-3100367296bus:Agent12023-02-012024-01-31003672962024-01-31003672962023-01-3100367296core:LandBuildingscore:OwnedOrFreeholdAssets2024-01-3100367296core:FurnitureFittings2024-01-3100367296core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-3100367296core:FurnitureFittings2023-01-3100367296core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3100367296core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3100367296core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3100367296core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3100367296core:CurrentFinancialInstruments2024-01-3100367296core:CurrentFinancialInstruments2023-01-3100367296core:ShareCapital2024-01-3100367296core:ShareCapital2023-01-3100367296core:RevaluationReserve2024-01-3100367296core:RevaluationReserve2023-01-3100367296core:CapitalRedemptionReserve2024-01-3100367296core:CapitalRedemptionReserve2023-01-3100367296core:OtherMiscellaneousReserve2024-01-3100367296core:OtherMiscellaneousReserve2023-01-3100367296core:RetainedEarningsAccumulatedLosses2024-01-3100367296core:RetainedEarningsAccumulatedLosses2023-01-3100367296core:LandBuildingscore:OwnedOrFreeholdAssets2023-02-012024-01-3100367296core:FurnitureFittings2023-02-012024-01-31003672962022-02-012023-01-3100367296core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-3100367296core:FurnitureFittings2023-01-31003672962023-01-3100367296core:WithinOneYear2024-01-3100367296core:WithinOneYear2023-01-3100367296core:Non-currentFinancialInstruments2024-01-3100367296core:Non-currentFinancialInstruments2023-01-3100367296bus:PrivateLimitedCompanyLtd2023-02-012024-01-3100367296bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3100367296bus:FRS1022023-02-012024-01-3100367296bus:AuditExemptWithAccountantsReport2023-02-012024-01-3100367296bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP