Christopher Piper Wines Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 9

Christopher Piper Wines Limited

(Registration number: 01509601)
Statement of Financial Position as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	62,457	54,571
Current assets
Stocks	5	542,567	687,097
Debtors	6	181,855	183,605
Cash at bank and in hand		355	28,916
		724,777	899,618
Creditors: Amounts falling due within one year	7	(197,729)	(202,648)
Net current assets		527,048	696,970
Total assets less current liabilities		589,505	751,541
Creditors: Amounts falling due after more than one year	7	(25,000)	(71,382)
Net assets		564,505	680,159
Capital and reserves
Called up share capital		100	100
Profit and loss account		564,405	680,059
Shareholders' funds		564,505	680,159

For the financial year ending 31 January 2026 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 year 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 29 April 2026 and signed on its behalf by:
 

Mr J R Earle Director

Christopher Piper Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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:
Unit 45
Finnimore Trading Estate
Ottery St Mary
Devon
EX11 1BR

Principal activity

The principal activity of the company is that of wholesaling and retailing wine.

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.

Christopher Piper Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Christopher Piper Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (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.

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
Long leasehold property	Straight line over the life of the lease
Fixtures fittings and equipment	2 to 10 years straight line
Motor vehicles	25% straight line

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

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.

Christopher Piper Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

2	Accounting policies (continued)

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Christopher Piper Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2025 - 15).

4	Tangible assets

	Long leasehold land and buildings £	Short leasehold land and buildings £	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2025	23,127	6,100	287,610	226,590	543,427
Additions	49,042	-	1,505	-	50,547
At 31 January 2026	72,169	6,100	289,115	226,590	593,974
Depreciation
At 1 February 2025	23,127	6,100	278,608	181,021	488,856
Charge for the year	11,675	-	3,438	27,548	42,661
At 31 January 2026	34,802	6,100	282,046	208,569	531,517
Carrying amount
At 31 January 2026	37,367	-	7,069	18,021	62,457
At 31 January 2025	-	-	9,002	45,569	54,571

5

Stocks

	2026 £	2025 £
Finished goods and goods for resale	542,567	687,097

6

Debtors

	2026 £	2025 £
Trade debtors	170,702	161,521
Prepayments	11,153	22,084
	181,855	183,605

Christopher Piper Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	17,153	5,093
Trade creditors		87,399	117,759
Taxation and social security		22,574	31,841
Accruals and deferred income		11,288	10,786
Other creditors		59,315	37,169
		197,729	202,648

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	25,000	71,382

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Christopher Piper Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	25,000	55,000
Hire purchase contracts	-	16,382
	25,000	71,382

Current loans and borrowings

	2026 £	2025 £
Bank overdrafts	771	-
Hire purchase contracts	16,382	5,093
	17,153	5,093