W H Chope & Sons Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

W H Chope & Sons Ltd

(Registration number: 00560420)
Statement of Financial Position as at 25 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,167,547	1,167,936
Current assets
Stocks		15,771	15,149
Debtors	5	7,096	9,132
Cash at bank and in hand		36,528	25,463
		59,395	49,744
Creditors: Amounts falling due within one year	6	(26,004)	(32,533)
Net current assets		33,391	17,211
Total assets less current liabilities		1,200,938	1,185,147
Creditors: Amounts falling due after more than one year	6	(180,530)	(191,711)
Provisions for liabilities		(94,671)	(94,671)
Net assets		925,737	898,765
Capital and reserves
Called up share capital		9,000	9,000
Revaluation reserve		133,585	133,585
Profit and loss account		783,152	756,180
Shareholders' funds		925,737	898,765

For the financial period ending 25 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 11 December 2025 and signed on its behalf by:
 

Mr O Chope Company secretary and director

W H Chope & Sons Ltd

Notes to the Unaudited Financial Statements for the Period from 28 January 2024 to 25 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
64 High Street
Bideford
Devon
EX39 2AR

Principal activity

The principal activity of the company is the sale of books and the rental of property.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

W H Chope & Sons Ltd

Notes to the Unaudited Financial Statements for the Period from 28 January 2024 to 25 January 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

W H Chope & Sons Ltd

Notes to the Unaudited Financial Statements for the Period from 28 January 2024 to 25 January 2025 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	Not depreciated as depreciation is immaterial due to a high residual value of the property.
Plant and machinery	33% straight line
Fixtures, fittings and equipment	15% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

W H Chope & Sons Ltd

Notes to the Unaudited Financial Statements for the Period from 28 January 2024 to 25 January 2025 (continued)

2	Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6 (2024 - 6).

W H Chope & Sons Ltd

Notes to the Unaudited Financial Statements for the Period from 28 January 2024 to 25 January 2025 (continued)

4	Tangible assets

	Freehold property £	Fixtures, fittings and equipment £	Plant and machinery £	Total £
Cost or valuation
At 28 January 2024	1,165,350	343,679	46,282	1,555,311
At 25 January 2025	1,165,350	343,679	46,282	1,555,311
Depreciation
At 28 January 2024	-	341,093	46,282	387,375
Charge for the period	-	389	-	389
At 25 January 2025	-	341,482	46,282	387,764
Carrying amount
At 25 January 2025	1,165,350	2,197	-	1,167,547
At 27 January 2024	1,165,350	2,586	-	1,167,936

Revaluation

The fair value of the company's Freehold property was revalued on 28 January 2021 by an independent valuer, JD Commercial.
The property was valued at £1,075,000 (of which £905,000 relates to investment property). The aggregate cost that would have been recognised if the assets had been carried under the historical cost model is £326,258 (£307,886 investment property).

W H Chope & Sons Ltd

Notes to the Unaudited Financial Statements for the Period from 28 January 2024 to 25 January 2025 (continued)

5

Debtors

	2025 £	2024 £
Trade debtors	356	1,044
Other debtors	6,740	8,088
	7,096	9,132

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank borrowings		9,100	9,100
Trade creditors		3,867	11,712
Taxation and social security		1,129	408
Accruals and deferred income		3,008	5,198
Other creditors		8,900	6,115
		26,004	32,533

The bank loan is secured.

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Bank borrowings		180,530	191,711

The bank loan is secured.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

W H Chope & Sons Ltd

Notes to the Unaudited Financial Statements for the Period from 28 January 2024 to 25 January 2025 (continued)

8	Related party transactions

Transactions with directors

2025	At 28 January 2024 £	Repayments by director £	At 25 January 2025 £
The Directors	(6,115)	(2,785)	(8,900)

2024	At 29 January 2023 £	At 27 January 2024 £
The Directors	(6,115)	(6,115)

The loans are repayable on demand. Overdrawn balances are subject to interest at the official rate.