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REGISTERED NUMBER: 08194280 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

BOYCE GROUP LTD

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BOYCE GROUP LTD

COMPANY INFORMATION
for the Year Ended 31 OCTOBER 2023







DIRECTOR: N O Leighton-Boyce





REGISTERED OFFICE: Management Offices
Kingsway Centre
Newport
NP20 1EB





REGISTERED NUMBER: 08194280 (England and Wales)





ACCOUNTANTS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 19 16
Investment property 6 500,000 500,000
500,019 500,016

CURRENT ASSETS
Debtors 7 4,793,069 3,816,671

CREDITORS
Amounts falling due within one year 8 724,746 392,254
NET CURRENT ASSETS 4,068,323 3,424,417
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,568,342

3,924,433

CREDITORS
Amounts falling due after more than
one year

9

(3,878,930

)

(3,338,323

)

PROVISIONS FOR LIABILITIES 11 (47,176 ) (35,853 )
NET ASSETS 642,236 550,257

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 13 642,235 550,256
SHAREHOLDERS' FUNDS 642,236 550,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

BALANCE SHEET - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2024 and were signed by:





N O Leighton-Boyce - Director


BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 OCTOBER 2023

1. STATUTORY INFORMATION

Boyce Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Financial instruments
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Interest bearing bank loans, overdrafts and other loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the bank, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 November 2022
and 31 October 2023 992
DEPRECIATION
At 1 November 2022
and 31 October 2023 992
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 November 2022 14 2 16
Additions 3 - 3
At 31 October 2023 17 2 19
NET BOOK VALUE
At 31 October 2023 17 2 19
At 31 October 2022 14 2 16

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 500,000
NET BOOK VALUE
At 31 October 2023 500,000
At 31 October 2022 500,000

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 OCTOBER 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2020 188,703
Cost 311,297
500,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,515 34,764
Other debtors 4,783,554 3,781,907
4,793,069 3,816,671

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,034 28,982
Taxation and social security 120,927 111,488
Other creditors 574,785 251,784
724,746 392,254

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 200,368 203,994
Other creditors 3,678,562 3,134,329
3,878,930 3,338,323

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 164,584 164,584

The bank loan is secured against Upper Floors 55 West Street.

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 OCTOBER 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 47,176 35,853

Deferred
tax
£   
Balance at 1 November 2022 35,853
Provided during year 11,323
Balance at 31 October 2023 47,176

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

13. RESERVES

The retained earnings balance contains £141,527 (2022 - £152,850) relating to a revaluation of investment property. This is therefore non-distributable.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Mr N O Leighton-Boyce, by virtue of his 100% shareholding in the company.