ACCOUNTS - Final Accounts preparation

Registered number: 14184301

LES ANCIENNES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025


LES ANCIENNES LIMITED

COMPANY INFORMATION

Directors	T R Wood
	A R Worton


Registered number	14184301


Registered office	167 - 169 Great Portland Street
	London
	W1W 5PF


Independent auditors	Sopher + Co LLP
	Chartered Accountants & Statutory Auditors
	5 Elstree Gate
	Elstree Way
	Borehamwood
	Hertfordshire
	WD6 1JD


LES ANCIENNES LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 6


LES ANCIENNES LIMITED REGISTERED NUMBER:14184301

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

	2025	2024
Note	£	£

Fixed assets
Intangible assets	5	240,348	360,516
Current assets
Debtors: amounts falling due within one year	6	-	11,294
Cash at bank and in hand		6,587	6,698
		6,587	17,992
Current liabilities
Creditors: amounts falling due within one year	7	(650,810)	(700,011)
Net current liabilities		(644,223)	(682,019)

Net liabilities		(403,875)	(321,503)

Capital and reserves
Called up share capital	8	1	1
Profit and loss account		(403,876)	(321,504)
		(403,875)	(321,503)

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 statement of comprehensive incane in accordance with provisions applicable to companies subject to the small companies' regime.

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:

A R Worton

Director

Date: 9 October 2026

The notes on pages 2 to 6 form part of these financial statements.

Page 1


LES ANCIENNES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Les Anciennes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 167 - 169 Great Portland Street, London, England, W1W 5PF.

The principal activity of the Company continues to be that of providing a marketplace for the purchase and sale of classic vehicles.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 Company had net liabilities of £403,875 at the year end (2024 - £321,503) and is dependent on continued financial support from its parent undertaking. The parent undertaking has confirmed that it will provide sufficient financial support to enable the Company to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

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.

2.4

Turnover

Turnover comprises commission, auction and package fees earned on completed marketplace transactions and licensing income, net of value added tax.

Licensing income relates to the use of the Company’s website platform and brand name and is recognised evenly over the period of the licence.

Page 2


LES ANCIENNES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Intellectual Property

years

2.6

Debtors

Short-term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

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.

2.8

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.

2.9

Financial instruments

The Company enters into basic financial instrument transactions. Basic financial instruments, including trade debtors, trade creditors, cash and loans to related parties, are accounted for in accordance with FRS 102 Section 11.

3.	Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

Page 3


LES ANCIENNES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Taxation

No liability to UK corporation tax arose for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Factors that may affect future tax charges

As at the year end, the company had corporation tax losses of £75,776 (2024: £90,172), representing a potential deferred tax asset totalling £18,944 (2024: £22,543), in respect of unutilised trade losses. As it cannot be foreseen with any underlying certainty as to when this asset will be realised in the near future, it has not been recognised in the accounts.

5.	Intangible assets

		Intellectual Property
		£
	Cost
	At 1 January 2025	600,852
	At 31 December 2025	600,852
	Amortisation
	At 1 January 2025	240,336
	Charge for the year on owned assets	120,168
	At 31 December 2025	360,504
	Net book value
	At 31 December 2025	240,348
	At 31 December 2024	360,516

Page 4


LES ANCIENNES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	-	11,294

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

Amounts owed to group undertakings	640,502	699,099
Other creditors	1,308	-
Accruals and deferred income	9,000	912
	650,810	700,011

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 Ordinary share of £1.00	1	1

9.	Related party transactions
	The Company has taken advantage of the exemption under FRS 102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.

10.	Controlling party

The immediate parent undertaking is Car and Classic Limited, incorporated in England and Wales, with its registered office at 167-169 Great Portland Street, London, W1W 5PF.

The ultimate parent undertaking is Car and Classic Holdings Limited, registered at 167-169 Great Portland Street, London, W1W 5PF, which is both the smallest and largest group into which the Company is consolidated. Its consolidated financial statements are available from Companies House.

There is no ultimate controlling party.

Page 5


LES ANCIENNES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

11.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 9 October 2026 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

Page 6