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REGISTERED NUMBER: 08194280 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

BOYCE GROUP LTD

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 OCTOBER 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

BOYCE GROUP LTD

COMPANY INFORMATION

for the Year Ended 31 OCTOBER 2024

| DIRECTOR: | N O Leighton-Boyce

| REGISTERED OFFICE: | Management Offices

| Kingsway Centre

| Newport

| NP20 1EB

| REGISTERED NUMBER: | 08194280 (England and Wales)

| ACCOUNTANTS: | Burnside

| Chartered Accountants

| 61 Queen Square

| Bristol

| BS1 4JZ

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

BALANCE SHEET

31 OCTOBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | - |  | - |  |

Investments | 5 | 19 |  | 19 |  |

Investment property | 6 | 400,000 |  | 500,000 |  |

400,019 |  | 500,019 |  |

CURRENT ASSETS

Debtors | 7 | 5,247,035 |  | 4,793,069 |  |

CREDITORS

Amounts falling due within one year | 8 | 220,056 |  | 724,746 |  |

NET CURRENT ASSETS | 5,026,979 |  | 4,068,323 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,426,998 |  | 4,568,342 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (4,850,669 | ) | (3,878,930 | ) |

PROVISIONS FOR LIABILITIES | 11 | (32,176 | ) | (47,176 | ) |

NET ASSETS | 544,153 |  | 642,236 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 1 |  | 1 |  |

Retained earnings | 13 | 544,152 |  | 642,235 |  |

SHAREHOLDERS' FUNDS | 544,153 |  | 642,236 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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 2024

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 21 October 2025 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 2024

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 2024

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 (2023 - 1 ) .

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 OCTOBER 2024

4. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 November 2023

| and 31 October 2024 | 992 |  |

| DEPRECIATION

| At 1 November 2023

| and 31 October 2024 | 992 |  |

| NET BOOK VALUE

| At 31 October 2024 | - |  |

| At 31 October 2023 | - |  |

5. | FIXED ASSET INVESTMENTS

| Shares in |  | Interest |

| group |  | in |

| undertakings |  | associate |  | Totals

£ | £ | £ |

| COST

| At 1 November 2023

| and 31 October 2024 | 17 |  | 2 |  | 19 |  |

| NET BOOK VALUE

| At 31 October 2024 | 17 |  | 2 |  | 19 |  |

| At 31 October 2023 | 17 |  | 2 |  | 19 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2023 | 500,000 |  |

| Disposals | (100,000 | ) |

| At 31 October 2024 | 400,000 |  |

| NET BOOK VALUE

| At 31 October 2024 | 400,000 |  |

| At 31 October 2023 | 500,000 |  |

BOYCE GROUP LTD (REGISTERED NUMBER: 08194280)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 OCTOBER 2024

6. | INVESTMENT PROPERTY - continued

| Fair value at 31 October 2024 is represented by:

£ |

| Valuation in 2020 | 128,703 |  |

| Cost | 271,297 |  |

400,000 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 5,080 |  | 9,515 |  |

| Other debtors | 5,241,955 |  | 4,783,554 |  |

5,247,035 |  | 4,793,069 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 11,496 |  | 29,034 |  |

| Taxation and social security | 116,357 |  | 120,927 |  |

| Other creditors | 92,203 |  | 574,785 |  |

220,056 |  | 724,746 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans | 193,898 |  | 200,368 |  |

| Other creditors | 4,656,771 |  | 3,678,562 |  |

4,850,669 |  | 3,878,930 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| 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 2024

11. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax | 32,176 |  | 47,176 |  |

| Deferred |

| tax |

£ |

| Balance at 1 November 2023 | 47,176 |  |

| Provided during year | (15,000 | ) |

| Balance at 31 October 2024 | 32,176 |  |

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

13. | RESERVES

| The retained earnings balance contains £96,527 (2023 - £141,527) 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.