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Ankorstore Limited
Registered number: 13421853
Annual report
For the year ended 31 December 2024
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13421853
31 December 2024
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ANKORSTORE LIMITED
REGISTERED NUMBER: 13421853
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Cash and cash equivalents
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 comprehensive income 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:
The notes on pages 2 to 8 form part of these financial statements.
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13421853
31 December 2024
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ANKORSTORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Ankorstore Limited is a private company limited by shares and incorporated in England and Wales. The company's registered number is 13421853. The address of its registered office is London Picadilly Circus, 48 Warwick Street, London, England, W1B 5AW.
The principal activity of the Company is to offer a B2B marketplace that allows professional retailers (decorating shops, concept stores, delicatessens, children's shops, pharmacies etc.) to buy directly from authentic brands and quality producers throughout Europe. In this sense, the platform is a "transparent" intermediary. The platform connects brands (approximately 13,000 brands listed) and retailers who may be located in the European Union or outside the European Union (e.g. UK and Switzerland). The Company issues invoices in its name and on behalf of the brands under a billing mandate, and offers two shipping solutions:
• The "Brand label" solution whereby brands can use their own carrier to deliver the goods to the professional retailers.
• The "Own label" solution whereby brands can use the UPS carrier under the contract between Ankorstore and UPS.
2.Accounting policies
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Basis of preparation of financial statements
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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 financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the Company operates. Monetary amounts within the financial statements have been rounded to the nearest pound.
The following principal accounting policies have been applied:
The financial statements are prepared on a going concern basis. The Company remains assured of the financial support provided by the ultimate parent company, Ankorstore SAS. The director has received confirmation that the ultimate parent company will continue to support the Company and provide it with adequate funds when necessary to enable it to meet its debts as they fall due for a period of at least twelve months from the date of these financial statements. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.
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13421853
31 December 2024
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ANKORSTORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentation 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 the Statement of comprehensive income.
All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'administrative expenses'.
Turnover arises from cost recharges made to Ankorstore SAS, the parent company.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to in the Statement of comprehensive income on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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Interest receivable and similar income
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Interest receivable and similar income is recognised in the Statement of comprehensive income using the effective interest method.
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13421853
31 December 2024
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ANKORSTORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Interest payable and similar expenses
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Interest payable and similar expenses are charged to the Statement of comprehensive income 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.
Defined contribution pension plan
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 payment obligations.
The contributions are recognised as an expense in in the Statement of comprehensive income when they fall due. Amounts not paid are shown in other creditors as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The Company classifies certain one-off charges or credits that have a material impact on the Company's financial results as 'exceptional items'. These are disclosed separately to provide further understanding of the financial performance of the Company.
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13421853
31 December 2024
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ANKORSTORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tangible 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.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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 the Statement of comprehensive income.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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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.
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including the director, during the year was 11 (2023: 13).
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13421853
31 December 2024
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ANKORSTORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Prepayments and accrued income
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- 6 -
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13421853
31 December 2024
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ANKORSTORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to group undertakings are unsecured, interest-bearing at EURIBOR + 100 Bps and repayable on demand.
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Credited to profit or loss
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The deferred tax balance is made up as follows:
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Fixed asset timing differences
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Short term timing differences
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Losses and other deductions
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- 7 -
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13421853
31 December 2024
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ANKORSTORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Allotted, called up and fully paid
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1 (2023: 1) ordinary share of £1
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The Company has one class of ordinary shares; each share has attached to it full voting, dividend and capital distribution rights.
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The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions payable to the fund at the year-end amounted to £4,169 (2023: £5,717).
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Related party transactions
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The Company is a wholly owned subsidiary of Ankorstore SAS and has taken advantage of the exemption from disclosing related party transactions undertaken between wholly owned members of the group that have been concluded under normal market conditions.
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Post balance sheet events
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After the reporting date, Ankorstore Limited initiated a redundancy programme. The redundancies incurred in the 2025 year. The total estimated cost of the redundancies amounts to £82,813. As the circumstances giving rise to the redundancies did not exist at the reporting date, no adjustment has been made to the financial statements for the year ended 31 December 2024.
The immediate and ultimate parent undertaking of the Company is Ankorstore SAS, a company incorporated in France. The address of its registered office is 101 rue de Sèvres, 75006 Paris, France.
Ankorstore SAS is the parent of the smallest and largest group for which consolidated accounts are prepared, and those consolidated accounts contain the results of the Company.
The director does not consider there to be an ultimate controlling party.
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 29 September 2025 by David Guest FCA (Senior statutory auditor) on behalf of UHY Hacker Young (S.E.) Limited.
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