REGISTERED NUMBER: 02516777 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PIPERS NEWS STORES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D G Piper

M J Cleary

SECRETARY:

M J Cleary

REGISTERED OFFICE:

Unit 5

Hargreaves Business Park

Hargreaves Road

Eastbourne

East Sussex

BN23 6QW

REGISTERED NUMBER:

02516777 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

Statutory Auditor

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

97,321

153,855

Tangible assets

5

250,491

255,693

347,812

409,548

CURRENT ASSETS

Debtors

6

585,977

697,319

Cash at bank and in hand

152,842

71,642

738,819

768,961

CREDITORS

Amounts falling due within one year

7

(837,955

)

(906,056

)

NET CURRENT LIABILITIES

(99,136

)

(137,095

)

TOTAL ASSETS LESS CURRENT LIABILITIES

248,676

272,453

PROVISIONS FOR LIABILITIES

(27,000

)

(54,000

)

NET ASSETS

221,676

218,453

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

171,676

168,453

SHAREHOLDERS' FUNDS

221,676

218,453

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

M J Cleary - Director

1.	STATUTORY INFORMATION

Pipers News Stores Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill is capitalised in the accounts immediately upon acquisition and is amortised over its expected useful economic life. The amount attributed to goodwill is the difference between the fair value of the consideration given and the fair value of the separable net assets acquired.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Pensions

The pension costs charged in the financial statements represent the contributions payable by the company during the year in accordance with FRS 17.

Going concern

The company meets its day-to-day working capital requirements through its bank facilities. The company's forecasts and projections, taking account of any plausible change in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future whilst also having the full support of the parent company. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 35 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

1,284,775

Additions

90,784

At 31 December 2024

1,375,559

AMORTISATION

At 1 January 2024

1,130,920

Charge for year

147,318

At 31 December 2024

1,278,238

NET BOOK VALUE

At 31 December 2024

97,321

At 31 December 2023

153,855

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

40,166

495,534

34,747

570,447

Additions

-

149,603

-

149,603

Disposals

-

(214,034

)

-

(214,034

)

At 31 December 2024

40,166

431,103

34,747

506,016

DEPRECIATION

At 1 January 2024

24,616

255,391

34,747

314,754

Charge for year

3,636

110,893

-

114,529

Eliminated on disposal

-

(173,758

)

-

(173,758

)

At 31 December 2024

28,252

192,526

34,747

255,525

NET BOOK VALUE

At 31 December 2024

11,914

238,577

-

250,491

At 31 December 2023

15,550

240,143

-

255,693

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

368,092

503,922

Other debtors

164,735

137,005

VAT

29,952

20,862

Prepayments

23,198

35,530

585,977

697,319

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

145,673

121,287

Amounts owed to group undertakings

445,089

661,671

Tax

148,000

34,250

Social security and other taxes

13,920

11,297

Other creditors

48,932

46,437

Accrued expenses

36,341

31,114

837,955

906,056

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

4,978

38,614

Between one and five years

-

4,978

4,978

43,592

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Christopher Harris (Senior Statutory Auditor)

for and on behalf of Watson Associates (Audit Services) Ltd

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is T. Cox and Son Limited, a company registered in England and Wales.

In both the current and previous year, the parent company T.Cox and Son Limited, was under the control of R D Piper and D G Piper. D G Piper is also a director of T. Cox and Son Limited.