Boyce Investments Limited 04276763 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to deal in stocks and shares Digita Accounts Production Advanced 6.30.9574.0 true true 04276763 2023-01-01 2023-12-31 04276763 2023-12-31 04276763 core:OtherMiscellaneousReserve 2023-12-31 04276763 core:RetainedEarningsAccumulatedLosses 2023-12-31 04276763 core:ShareCapital 2023-12-31 04276763 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 04276763 core:CurrentFinancialInstruments 2023-12-31 04276763 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04276763 bus:SmallEntities 2023-01-01 2023-12-31 04276763 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04276763 bus:FilletedAccounts 2023-01-01 2023-12-31 04276763 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04276763 bus:RegisteredOffice 2023-01-01 2023-12-31 04276763 bus:Director2 2023-01-01 2023-12-31 04276763 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04276763 core:OtherMiscellaneousReserve 2023-01-01 2023-12-31 04276763 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04276763 core:ShareCapital 2023-01-01 2023-12-31 04276763 1 2023-01-01 2023-12-31 04276763 countries:England 2023-01-01 2023-12-31 04276763 2022-12-31 04276763 core:OtherMiscellaneousReserve 2022-12-31 04276763 core:RetainedEarningsAccumulatedLosses 2022-12-31 04276763 core:ShareCapital 2022-12-31 04276763 2022-01-01 2022-12-31 04276763 2022-12-31 04276763 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 04276763 core:CurrentFinancialInstruments 2022-12-31 04276763 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04276763 core:OtherMiscellaneousReserve 2022-01-01 2022-12-31 04276763 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 04276763 core:ShareCapital 2022-01-01 2022-12-31 04276763 2021-12-31 04276763 core:OtherMiscellaneousReserve 2021-12-31 04276763 core:RetainedEarningsAccumulatedLosses 2021-12-31 04276763 core:ShareCapital 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 04276763

Boyce Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Boyce Investments Limited

Contents

Balance Sheet

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 8

 

Boyce Investments Limited

(Registration number: 04276763)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

5,230

3,695

Investments

6

28,862

28,862

Other financial assets

4

655,671

790,318

Cash at bank and in hand

 

11

35

 

689,774

822,910

Creditors: Amounts falling due within one year

7

(1,986,712)

(1,930,565)

Net liabilities

 

(1,296,938)

(1,107,655)

Capital and Reserves

 

Called up share capital

2

2

Other reserves

(619,418)

(441,762)

Retained Earnings

(677,522)

(665,895)

Shareholders' deficit

 

(1,296,938)

(1,107,655)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2024 and signed on its behalf by:
 

.........................................
A R Boyce
Director

 

Boyce Investments Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Non-distributable reserve
£

Retained Earnings
£

Total
£

At 1 January 2023

2

(441,762)

(665,895)

(1,107,655)

Loss for the year

-

-

(189,283)

(189,283)

Other comprehensive income

-

(177,656)

177,656

-

Total comprehensive income

-

(177,656)

(11,627)

(189,283)

At 31 December 2023

2

(619,418)

(677,522)

(1,296,938)

Share capital
£

Non-distributable reserve
£

Retained Earnings
£

Total
£

At 1 January 2022

2

574,422

(719,281)

(144,857)

Loss for the year

-

-

(962,798)

(962,798)

Other comprehensive income

-

(1,016,184)

1,016,184

-

Total comprehensive income

-

(1,016,184)

53,386

(962,798)

At 31 December 2022

2

(441,762)

(665,895)

(1,107,655)

 

Boyce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ruffles Barn Brookside
Dalham
Newmarket
CB8 8TG
England

These financial statements were authorised for issue by the Board on 30 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Boyce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial Investments
 Recognition and measurement
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit and loss statement. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
 

 

Boyce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost

At 1 January 2023

1,232,080

1,232,080

Additions

80,305

80,305

Disposals

(37,295)

(37,295)

At 31 December 2023

1,275,090

1,275,090

Fair value adjustments

At 1 January 2023

(441,762)

(441,762)

Fair value adjustment in the period

(190,485)

(190,485)

Adjustments resulting from a disposal

12,828

12,828

At 31 December 2023

(619,419)

(619,419)

Carrying amount

At 31 December 2023

655,671

655,671

At 31 December 2022

790,318

790,318

 

Boyce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

2023
£

2022
£

Other debtors

5,230

3,695

5,230

3,695

Current

2023
£

2022
£

Other debtors

5,230

3,695

 

5,230

3,695

6

Current asset investments

2023
£

2022
£

Other investments

28,862

28,862

 

Boyce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,067

1,085

Other creditors

1,985,645

1,929,480

1,986,712

1,930,565

8

Financial instruments

Categorisation of financial instruments

2023
 £

2022
 £

Financial assets measured at fair value through profit or loss

655,671

790,318

Financial assets measured at fair value

Current Financial Assets
The fair value of the financial assets is based on the share price at the year end.

The fair value is £655,671 (2022 - £790,318) and the change in value included in profit or loss is £177,656 (2022 - £(1,022,555)).

Items of income, expense, gains or losses

2023

Income
£

Expense
£

Net gains
£

Net losses
£

Financial liabilities measured at fair value through profit or loss

-

-

-

177,656

2022

Income
£

Expense
£

Net gains
£

Net losses
£

Financial liabilities measured at fair value through profit or loss

-

-

-

1,022,555

9

Parent and ultimate parent undertaking

The company's immediate parent is Boyce Investment Group Limited, incorporated in England.

 The ultimate parent, in its capacity as trustee, is The RG Boyce Trustee Co Ltd, a company incorporated in Cyprus.

 

 

Boyce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

10

Going Concern

As at 31 December 2023, the company had net liabilities of £1,296,940 (2022: £1,107,655). This included related party loans of £1,985,645 (2022: £1,929,480).

The directors have no reason to believe that there is any material uncertainty in relation to the ongoing provision of these loans.