ACCOUNTS - Final Accounts preparation

Registered number: 00716925

PETER HEMPSON ANTIQUES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2025

PETER HEMPSON ANTIQUES LIMITED

REGISTERED NUMBER: 00716925

BALANCE SHEET

AS AT 30 SEPTEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		243		286
Current assets
Stocks	5	210,440		228,465
Debtors: amounts falling due within one year	6	2,400		1,894
Cash at bank and in hand	7	10		1,720
		212,850		232,079
Creditors: amounts falling due within one year	8	(282,576)		(288,910)
Net current liabilities			(69,726)		(56,831)
Total assets less current liabilities			(69,483)		(56,545)
Creditors: amounts falling due after more than one year	9		(21,263)		(26,266)

Net liabilities			(90,746)		(82,811)

Capital and reserves
Called up share capital	10	9,218	9,218
Profit and loss account		(99,964)	(92,029)
		(90,746)	(82,811)

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PETER HEMPSON ANTIQUES LIMITED

REGISTERED NUMBER: 00716925

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2025

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 year 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: 25 September 2026

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

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PETER HEMPSON ANTIQUES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

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 1 Newland House, Lansdown Road, Bath, BA1 5RE.

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 to 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 foreseeable 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 YEAR ENDED 30 SEPTEMBER 2025

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 year 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 YEAR ENDED 30 SEPTEMBER 2025

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.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

Page 5

PETER HEMPSON ANTIQUES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost
At 1 October 2024	778	1,711	2,489
At 30 September 2025	778	1,711	2,489
Depreciation
At 1 October 2024	492	1,711	2,203
Charge for the year on owned assets	43	-	43
At 30 September 2025	535	1,711	2,246
Net book value
At 30 September 2025	243	-	243
At 30 September 2024	286	-	286

5.	Stocks
		2025	2024
		£	£

	Finished goods and goods for resale	210,440	228,465

Page 6

PETER HEMPSON ANTIQUES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	2,400	1,777
Other debtors	-	117
	2,400	1,894

7.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	10	1,720

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	5,003	5,003
Trade creditors	65,646	61,847
Other taxation and social security	88	-
Other creditors	207,523	220,125
Accruals and deferred income	4,316	1,935
	282,576	288,910

9.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

	Bank loans	21,263	26,266

Page 7

PETER HEMPSON ANTIQUES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

10.	Share capital
		2025	2024
		£	£

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 £119,425 (2024 - £132,027).

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