Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30false2022-04-01falseSelling antiques11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00716925 2022-04-01 2023-09-30 00716925 2021-04-01 2022-03-31 00716925 2023-09-30 00716925 2022-03-31 00716925 c:Director1 2022-04-01 2023-09-30 00716925 d:FurnitureFittings 2022-04-01 2023-09-30 00716925 d:FurnitureFittings 2023-09-30 00716925 d:FurnitureFittings 2022-03-31 00716925 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-09-30 00716925 d:ComputerEquipment 2022-04-01 2023-09-30 00716925 d:ComputerEquipment 2023-09-30 00716925 d:ComputerEquipment 2022-03-31 00716925 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-09-30 00716925 d:OwnedOrFreeholdAssets 2022-04-01 2023-09-30 00716925 d:CurrentFinancialInstruments 2023-09-30 00716925 d:CurrentFinancialInstruments 2022-03-31 00716925 d:Non-currentFinancialInstruments 2023-09-30 00716925 d:Non-currentFinancialInstruments 2022-03-31 00716925 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 00716925 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00716925 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 00716925 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 00716925 d:ShareCapital 2023-09-30 00716925 d:ShareCapital 2022-03-31 00716925 d:RetainedEarningsAccumulatedLosses 2023-09-30 00716925 d:RetainedEarningsAccumulatedLosses 2022-03-31 00716925 c:OrdinaryShareClass1 2022-04-01 2023-09-30 00716925 c:OrdinaryShareClass1 2023-09-30 00716925 c:FRS102 2022-04-01 2023-09-30 00716925 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-09-30 00716925 c:FullAccounts 2022-04-01 2023-09-30 00716925 c:PrivateLimitedCompanyLtd 2022-04-01 2023-09-30 00716925 e:PoundSterling 2022-04-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00716925










PETER HEMPSON ANTIQUES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2023

 
PETER HEMPSON ANTIQUES LIMITED
REGISTERED NUMBER: 00716925

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

30 September
31 March
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
336
433

Current assets
  

Stocks
 5 
243,419
243,430

Debtors: amounts falling due within one year
 6 
3,000
-

Cash at bank and in hand
 7 
1,235
3,045

  
247,654
246,475

Creditors: amounts falling due within one year
 8 
(301,984)
(325,336)

Net current liabilities
  
 
 
(54,330)
 
 
(78,861)

Total assets less current liabilities
  
(53,994)
(78,428)

Creditors: amounts falling due after more than one year
 9 
(31,269)
(36,899)

  

Net liabilities
  
(85,263)
(115,327)


Capital and reserves
  

Called up share capital 
 10 
9,218
9,218

Profit and loss account
  
(94,481)
(124,545)

  
(85,263)
(115,327)


Page 1

 
PETER HEMPSON ANTIQUES LIMITED
REGISTERED NUMBER: 00716925

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P B Hempson
Director

Date: 21 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PETER HEMPSON ANTIQUES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

1.


General information

Peter Hempson Antiques Limited is a private limited company, limited by shares, and incorporated in England and Wales. The address of its registered office is 3 Cleveland Walk, Bath, BA2 6JS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operation for the foreseeable future. The director, who is the company's major creditor, has confirmed that he will continue to make available such funds as are necessary by the company and, in particular, will not seek repayment of the amounts currently made available that would otherwise place the company in insolvency.
Based on this information, the director believes that the company will have sufficient resources to enable it to continue in existence for the forseeable future, this being a period of at least twelve months from the date of approval of these financial statements, and that it is therefore appropriate for these financial statements to be prepared on the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
PETER HEMPSON ANTIQUES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
PETER HEMPSON ANTIQUES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
on reducing balance
Computer equipment
-
25%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2022 - 1).

Page 5

 
PETER HEMPSON ANTIQUES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets







Fixtures and fittings
Computer equipment
Total

£
£
£



Cost


At 1 April 2022
778
1,711
2,489



At 30 September 2023

778
1,711
2,489



Depreciation


At 1 April 2022
345
1,711
2,056


Charge for the period on owned assets
97
-
97



At 30 September 2023

442
1,711
2,153



Net book value



At 30 September 2023
336
-
336



At 31 March 2022
433
-
433


5.


Stocks

30 September
31 March
2023
2022
£
£

Finished goods and goods for resale
243,419
243,430


Page 6

 
PETER HEMPSON ANTIQUES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

6.


Debtors

30 September
31 March
2023
2022
£
£


Trade debtors
2,850
-

Prepayments and accrued income
150
-

3,000
-



7.


Cash and cash equivalents

30 September
31 March
2023
2022
£
£

Cash at bank and in hand
1,235
3,045



8.


Creditors: Amounts falling due within one year

30 September
31 March
2023
2022
£
£

Bank loans
5,003
5,347

Trade creditors
58,431
71,335

Other taxation and social security
1,311
34

Other creditors
230,079
243,446

Accruals and deferred income
7,160
5,174

301,984
325,336



9.


Creditors: Amounts falling due after more than one year

30 September
31 March
2023
2022
£
£

Bank loans
31,269
36,899


Page 7

 
PETER HEMPSON ANTIQUES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

10.


Share capital

30 September
31 March
2023
2022
£
£
Allotted, called up and fully paid



9,218  Ordinary shares of £1 each
9,218
9,218



11.


Related party transactions

At the balance sheet date the balance due to the director was £136,981 (2022 - £139,349).


Page 8