The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements have been prepared on a basis other than the going concern basis. Further details are provided in the accounting policies note.

I.D.C. (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 86 Hatton Garden, London, EC1N 8QQ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

Items included in the financial statements are measured using the currency of the primary economic environment in which the company operates ('the functional currency'). Management consider the US Dollar to be the functional currency as the company makes most of its sales and purchases of goods in US Dollars.

The financial statements are presented in £, which is the company's presentation currency.

The financial statements have been prepared under the historical cost convention. The following principal accounting policies have been applied.

Due to the sale of the company's business on 17 October 2025, as disclosed in note 21, the going concern basis of preparation is no longer appropriate and, accordingly, these financial statements have been prepared on a basis other than going concern.true

Revenue from the sales of goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed upon payment. These criteria are considered to be met when the goods are delivered to the buyer. Where the buyer has a right of return, the company defers recognition of revenue until the right to return has lapsed.

Tangible fixed assets 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.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation on assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods and useful lives set out below:

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, 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 within 'other operating income and expenditure' in the statement of comprehensive income.

Investments in subsidiaries are measured at cost less accumulated impairment.

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there us any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use.

Stocks are stated at the lower of cost and net realisable value being the estimated selling price less costs to complete and sell. For the majority of the components of stock, cost is based on the cost of purchase on a first in, first out basis. However, there are some components of stock where, due to practical considerations and the nature of the stock item, average costing is used and this is considered to more accurately reflect the cost of goods sold.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax expense for the period comprises current and deferred 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 or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the United Kingdom.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except:

• The recognition of deferred tax assets is limited to the extent that it is probable that they will not 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.

Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. The grants are recognised in the income statement over the periods necessary to match them with the related costs which they are intended to compensate, on a systematic basis.

In preparing these financial statements, the directors have made the following judgements:

• Determining the recoverability of trade debtors assets. Factors taken into consideration by management include whether an amount is overdue and by how long and also the timing of previous payments by the relevant client.

• The sale of the business disclosed in note 21 has an effect on the valuation of stock at the reporting date as that stock was sold for less than its carrying value. The stock at the reporting date is recorded as the discounted value of the proceeds under the APA plus the cost of goods sold between the reporting date and the date of the cessation of trade.

The Company makes pension contributions to the personal pension schemes of certain employees. The pension charge represents contributions payable by the company to those funds and amounted to £50,532 (2023 - £49,708). Contributions amounting to £2,735 (2023: £2,718) were payable to the fund and are included in creditors.

Pension contributions were made to private pension arrangements of one director during the year (2023 - one director).

An impairment of £569,767 was recognised which related to the sale of the company's remaining stock and a re-assessment of the carrying value at the reporting date.

Details of the company's subsidiaries at 31 October 2024 are as follows:

At 31 October 2024, an impairment of the value of stock was recognised amounting to £746,183 (2023: £41,458). Of this amount £176,416 (2023: £41,458) related to an assessment of stock as if the company were a going concern and is recorded within cost of sales within the Statement of Comprehensive Income. A further £569,767 (2023: £Nil) related to the sale of the company's remaining stock and a re-assessment of the carrying value at the reporting date and is recorded as an exceptional item within the Statement of Comprehensive Income.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The company has recognised a deferred tax asset amounting to £nil at 31 October 2024 (2023: £3,750) in respect of a proportion of the unrelieved tax losses in the United Kingdom when measured at the substantially enacted tax rate of 25% (2023: 25%).

The company was party to a capped £848,000, inter-company guarantee arrangement (2023: capped £848,000 guarantee arrangement) with Fairport (Investments) Limited in relation to the unused overdraft facility of I.D.C. (Holdings) Ltd. This guarantee ended on 30 September 2025.

The company had minimum lease payment under non-cancellable operating leases as set out below:

There is no ultimate controlling party of I.D.C. (Holdings) Limited.

The company entered into the following transactions with related parties during the year.

i)    The company is owed £107 by Fairport (Investments) Limited, a company that is related by virtue of     common shareholders and directors, by 31 October 2024 (2023 - £40 owed by Fairport     (Investments) Limited).

ii)    Fairport (Investments) Limited have provided land and buildings owned by itself as security for a third     party legal charge on behalf of I.D.C. (Holdings) Limited. This change terminated on 30 September    2025.

iii)    The company leases premises from Fairport (Investments) Limited for an annual rental of £95,000     (2023: £95,000).

    Under the agreement service charges are also payable and in the year ended 31 October 2024     these amounted to £10,903 (2023 - £10,601).

iv)    The company is a party to an unlimited inter-company guarantee arrangement with Fairport     (Investments) Limited in relation to the unused overdraft facility of I.D.C. (Holdings) Limited. This    facility and guarantee terminated on 30 September 2025.

v)    The company received £125,650 (2023 - £116,000) in property management fees from Fairport     (Investments) Limited.

The key management personnel of the company comprise the members of the Board of Directors and further staff members involved in the management and operation of the company. The key management compensation is as follows:

On 17 October 2025, the company signed an Asset Purchase Agreement ("APA") with Shannon Abrasives Limited, a company incorporated in Ireland. Under this APA the company transferred all of its stock, some machinery and the right to use the IDC name in the context of trading diamonds in return for a payment of $1.0m with 90% received on 17 October 2025 with the balance to be received after a two-month implementation period.

Under the APA, IDC can no longer trade in its former markets and limited warranties have been provided to the buyer. Due to this transaction the company has drawn up these financial statements on a basis other than going concern. The directors are confident that the company has sufficient net assets to ensure that all liabilities, both current and contingent will be settled in full.