Antique Hypermarket Limited Filleted Accounts Cover
Antique Hypermarket Limited
Company No. 00884258
Information for Filing with The Registrar
30 September 2024
Antique Hypermarket Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 30 September 2024.
Principal activities
The principal activity of the company during the year was the specialist provision, management and servicing of retail space, promoting the business of multiple small enterprises focussed exclusively on art and antiques.
Director
The Director who served at any time during the year was as follows:
S.B. Gray
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
S.B. Gray
Director
12 August 2025
Antique Hypermarket Limited Balance Sheet Registrar
at
30 September 2024
Company No.
00884258
Notes
2024
2023
£
£
Fixed assets
Intangible assets
4
-596
Tangible assets
5
534,041621,253
Investments
6
44
534,045621,853
Current assets
Debtors
7
2,084,2924,637,092
Cash at bank and in hand
6,062,4875,598,770
8,146,77910,235,862
Creditors: Amount falling due within one year
8
(1,195,187)
(745,227)
Net current assets
6,951,5929,490,635
Total assets less current liabilities
7,485,63710,112,488
Provisions for liabilities
Deferred taxation
(4,000)
(26,000)
Other provisions
(138,989)
(99,277)
Net assets
7,342,6489,987,211
Capital and reserves
Called up share capital
8,0008,000
Revaluation reserve
135,346
135,346
Profit and loss account
7,199,3029,843,865
Total equity
7,342,6489,987,211
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 12 August 2025 and signed on its behalf by:
S.B. Gray
Director
12 August 2025
Antique Hypermarket Limited Notes to the Accounts Registrar
for the year ended 30 September 2024
1
General information
Antique Hypermarket Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 00884258
Its registered office is:
Zellig Reception
Gibb Street
Birmingham
B9 4AT
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Basis of preparation
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.
Going Concern
The financial statements have been prepared on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses. They are amortised on a straight line basis over their useful lives.
Asset class
Amortisation method and rate
Intangible fixed assets
33.33% straight line
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Asset class
Depreciation method and rate
Leasehold land and buildings
8.33% straight line
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
Furniture, fittings and equipment
10% reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and that are receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
1211
4
Intangible fixed assets
Other
Total
£
£
Cost
At 1 October 2023
72,53872,538
At 30 September 2024
72,53872,538
Amortisation and impairment
At 1 October 2023
71,94271,942
Charge for the year
596596
At 30 September 2024
72,53872,538
Net book values
At 30 September 2024
--
At 30 September 2023
596596
5
Tangible fixed assets
Land and buildings
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 October 2023
881,462234,387351,8961,467,745
Additions
-1,2953,7305,025
At 30 September 2024
881,462235,682355,6261,472,770
Depreciation
At 1 October 2023
403,958218,623223,911846,492
Charge for the year
73,4454,13214,66092,237
At 30 September 2024
477,403222,755238,571938,729
Net book values
At 30 September 2024
404,05912,927117,055534,041
At 30 September 2023
477,504
15,764
127,985
621,253
6
Investments
Investment in Subsidiaries
Total
£
£
Cost or valuation
At 1 October 2023
4
4
At 30 September 2024
4
4
Provisions/Impairment
Net book values
At 30 September 2024
4
4
At 30 September 2023
4
4
7
Debtors
2024
2023
£
£
Trade debtors
238,392223,694
Amounts owed by group undertakings
57,5782,670,957
Loans to directors
10,271190,924
Other debtors
1,587,9591,279,213
Prepayments and accrued income
190,092272,304
2,084,2924,637,092
8
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
12,0403,898
Trade creditors
506,369442,546
Taxes and social security
101,125
48,964
Other creditors
298,7802,961
Accruals and deferred income
276,873246,858
1,195,187745,227
9
Share Capital
Amounts called up and fully paid £8,000 (2023 £8,000)
10
Reserves
£
At 1 October 2023
135,346
135,346
At 30 September 2024
135,346
11
Post balance sheet events
At the balance sheet date, the company was party to a corporate reconstruction, which broadly involved its parent company, Mormor Limited, implementing a Section 110 Insolvency Act 1986 arrangement. The appropriate advance tax clearances were obtained from HMRC. The ultimate beneficial owner of the company, Mr S B Gray, regained the same after the Section 110 Insolvency Act 1986 arrangement was executed.
12
Related party disclosures
Transactions with related parties
The company has extended the following loan to a company under the control of the director S B Gray, Ardco Limited. This loan is interest free and repayable on demand.
£966,609 (2023 - £783,136)
The company has also extended a loan to a wholly owned subsidiary company of the group, Alfieco Limited. This loan is interest free and repayable on demand.
£61,095 (2023 - £2,271,434)
On 23rd August 2024 the company executed a Deed of Waiver in favour of a related party, Mormor Limited, to release the loan of £2,867,388 that had been owing by that company. The consequential write-off has been charged directly against the reserves as an exceptional item. The director acknowledged that this loan was unlikely to be repaid in the foreseeable future and that the loan waiver was in the best interests of both companies.
Parent Company
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:
Mormor Limited
The parent's registered office address is:
Zellig Reception
Gibb Street
Birmingham
B9 4AT
13
Advances and credits to directors
2024
£
At 1 October 2023
190,924
Repaid during the period
(180,653)
At 30 September 2024
10,271
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