ACCOUNTS - Final Accounts

Registered number: 06309357

MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

REGISTERED NUMBER: 06309357

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		-		37,169
Current assets
Stocks		-		47,370
Debtors: amounts falling due within one year	6	952		36,139
Cash at bank		13,928		21,778
		14,880		105,287
Current liabilities
Creditors: amounts falling due within one year	7	(22,465)		(125,717)
Net current liabilities			(7,585)		(20,430)
Total assets less current liabilities			(7,585)		16,739

Net (liabilities)/assets			(7,585)		16,739

Capital and reserves
Called up share capital	9	2	2
Profit and loss account		(7,587)	16,737
		(7,585)	16,739

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

REGISTERED NUMBER: 06309357

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 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 period 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:

Mr M A Percival

Director

Date: 10 September 2025

The notes on pages 3 to 10 form part of these financial statements.

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

1.	General information

Martin Percival Trading As Boyce Bloodstock Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is Dove House Ash Street, Semer, Ipswich, IP7 6QZ. This Company is not part of a group.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Break-up basis

The Company ceased to trade on 31 March 2025. Consequently, at the balance sheet date, it is not regarded to be a going concern and the financial statements have been prepared on a break-up basis. Accordingly, all assets have been written down to their net realisable values and provision has been made for all known liabilities.

2.3

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:

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.

2.4

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.

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.

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

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.

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:

Plant and machinery	-	25%	reducing balance
Fixtures and fittings	-	20%	straight line
Office equipment	-	20%	reducing balance
Leasehold property improvements	-	10%	straight line

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.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

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.

2.7

Debtors

Short-term debtors are measured at 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.

2.8

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.

2.9

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.

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.10

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.12

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 balance sheet 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 balance sheet date.

Employees

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

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

4.	Intangible assets

		Entitlements
		£
	Cost
	At 1 April 2024	833
	At 31 March 2025	833
	Amortisation
	At 1 April 2024	833
	At 31 March 2025	833
	Net book value
	At 31 March 2025	-
	At 31 March 2024	-

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

5.	Tangible fixed assets

		Other fixed assets
		£
	Cost
	At 1 April 2024	81,528
	Disposals	(81,528)
	At 31 March 2025	-

	At 1 April 2024	44,359
	Disposals	(44,359)
	At 31 March 2025	-
	Net book value
	At 31 March 2025	-
	At 31 March 2024	37,169

Debtors

					2025	2024
					£	£


Prepayments	952	484
Deferred taxation	-	35,655
	952	36,139

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

Trade creditors	480	238
Other taxation and social security	1,547	2,498
Other creditors	19,438	121,315
Accruals	1,000	1,666
	22,465	125,717

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

8.	Deferred taxation

	2025	2024
	£	£

At beginning of period	35,655	11,651
Charged to profit or loss	(35,655)	24,004
At end of period	-	35,655

The deferred tax asset is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	-	(150)
Tax losses carried forward	-	35,805
	-	35,655

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MARTIN PERCIVAL TRADING AS BOYCE BLOODSTOCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

2 (2024 - 2) Ordinary shares of £1.00 each	2	2

10.	Related party transactions
	During the period the Company operated loans with the director of the Company. The amount payable to the director of the Company at the year end was £19,437 (2024 - £120,636). This loan is interest free and repayable on demand.

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