Chaplins (Plymouth) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

Chaplins (Plymouth) Limited

(Registration number: 01716790)
Statement of Financial Position as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	79,260	90,107
Current assets
Stocks	5	998,956	1,102,077
Debtors	6	46,604	31,915
Cash at bank and in hand		34,286	190,273
		1,079,846	1,324,265
Creditors: Amounts falling due within one year	7	(861,932)	(878,378)
Net current assets		217,914	445,887
Total assets less current liabilities		297,174	535,994
Provisions for liabilities		(18,615)	(21,692)
Net assets		278,559	514,302
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		277,559	513,302
Shareholders' funds		278,559	514,302

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 4 September 2026 and signed on its behalf by:
 

L S Thompson Director

Chaplins (Plymouth) 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:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of a retail sales outlet.

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 basis.

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

Chaplins (Plymouth) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied
and services rendered, net of discounts and Value Added Tax.

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

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the
reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Chaplins (Plymouth) Limited

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

2	Accounting policies (continued)

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

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
Improvements to property	25% straight line
Plant and machinery	15% reducing balance
Motor vehicles	25% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

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.

Chaplins (Plymouth) Limited

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

2	Accounting policies (continued)

Stocks

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

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past
event; it is probable that the entity will be required to transfer economic benefits in settlement and the
amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the
statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 59 (2025 - 66).

Chaplins (Plymouth) Limited

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

4	Tangible assets

	Long leasehold property £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2025	31,736	995,469	16,000	1,043,205
Additions	-	2,900	-	2,900
At 31 January 2026	31,736	998,369	16,000	1,046,105
Depreciation
At 1 February 2025	31,736	905,362	16,000	953,098
Charge for the year	-	13,747	-	13,747
At 31 January 2026	31,736	919,109	16,000	966,845
Carrying amount
At 31 January 2026	-	79,260	-	79,260
At 31 January 2025	-	90,107	-	90,107

5

Stocks

	2026 £	2025 £
Finished goods and goods for resale	998,956	1,102,077

6

Debtors

	2026 £	2025 £
Trade debtors	1,266	10,987
Amounts owed by related parties	29,022	9,030
Prepayments	14,435	11,898
Income tax asset	1,881	-
	46,604	31,915

Chaplins (Plymouth) Limited

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

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Trade creditors	387,548	257,723
Amounts owed to group undertakings and undertakings in which the company has a participating interest	331,266	470,155
Taxation and social security	82,226	97,356
Accruals and deferred income	21,943	38,214
Other creditors	38,949	14,930
	861,932	878,378

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Parent and ultimate parent undertaking

The ultimate parent company is Chaplins Properties Limited, a company incorporated in England, which holds 100% of the issued share capital of the company. Its registered office is Plym House, 3 Longbridge Road, Marsh Mills, Plymouth PL6 8LT.