Company registration number 00499824 (England and Wales)
I.D.C. (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
I.D.C. (HOLDINGS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 11
I.D.C. (HOLDINGS) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
6
-
0
9,087
Investments
7
1,352
1,373
1,352
10,460
Current assets
Stocks
9
-
1,053,823
Debtors
10
284,380
330,540
Cash at bank and in hand
2,156,513
1,487,704
2,440,893
2,872,067
Creditors: amounts falling due within one year
11
(883,648)
(93,185)
Net current assets
1,557,245
2,778,882
Net assets
1,558,597
2,789,342
Capital and reserves
Called up share capital
12
900,000
900,000
Capital redemption reserve
1,605,197
1,605,197
Profit and loss reserves
(946,600)
284,145
Total equity
1,558,597
2,789,342

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 2025 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.

T he 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
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2025
31 October 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 March 2026 and are signed on its behalf by:
Mr G C M Leggett
Director
Company registration number 00499824 (England and Wales)
I.D.C. (HOLDINGS) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 November 2023
900,000
1,605,197
1,327,080
3,832,277
Year ended 31 October 2024:
Loss
-
-
(805,422)
(805,422)
Other comprehensive income:
Currency translation differences
-
-
(237,513)
(237,513)
Total comprehensive income
-
-
(1,042,935)
(1,042,935)
Balance at 31 October 2024
900,000
1,605,197
284,145
2,789,342
Year ended 31 October 2025:
Loss
-
-
(1,157,751)
(1,157,751)
Other comprehensive income:
Currency translation differences
-
-
(72,994)
(72,994)
Total comprehensive income
-
-
(1,230,745)
(1,230,745)
Balance at 31 October 2025
900,000
1,605,197
(946,600)
1,558,597
I.D.C. (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 4 -
1
Accounting policies
Company information

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.

1.1
Accounting convention

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, up until the sale of its business, the company made 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.

1.2
Going concern

Due to the sale of the company's business on 17 October 2025, 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

1.3
Turnover

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.

1.4
Tangible fixed assets

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:

Plant and equipment
10% to 20% per annum straight line
Fixtures and fittings
10% to 20% per annum straight line

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.

I.D.C. (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

1.6
Impairment of fixed assets

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.

1.7
Cash and cash equivalents

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.

1.8
Financial instruments

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

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.

Classification of financial liabilities

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

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 paymen ts 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. A m ounts 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.

I.D.C. (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 6 -
1.9
Equity instruments

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.

1.10
Taxation

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

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 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.

1.11
Employee benefits

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.

1.12
Retirement benefits

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

1.13
Government grants

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.

I.D.C. (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 7 -
2
Judgements and key sources of estimation uncertainty

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.

3
Employees
2025
2024
Number
Number
Buying and selling
2
2
Technical
3
3
Administration
2
2
Management
1
1
Domestic and maintenance
1
1
Total
9
9

At 31 October 2025, the total employee costs were £1,464,621 (2024: £677,642). Of this amount, as above, £668,866 related to the amount of employee costs recorded in the normal course of business on a going concern basis and is recorded within administrative expenses within the Statement of Comprehensive Income. A further £795,755 relates to redundancy payments and amounts accrued under settlement agreements. These costs have been presented separately as an exceptional item within the Statement of Comprehensive Income (See note 8).

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 £136,802 (2024 - £50,532). This amount is represented by £50,853 as above, and £85,949 which has been posted as an exceptional item (see note 8). Contributions amounting to £88,824 (2024: £2,735) were payable to the fund at the year end and are included in creditors.

4
Director's remuneration
2025
2024
£
£
Directors emoluments
168,840
157,772
Company contributions to money purchase pension schemes
14,517
13,990

Pension contributions were made to private pension arrangements of one director during the year (2024 - one director).

5
Exceptional item
I.D.C. (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
5
Exceptional item
(Continued)
- 8 -

Following the closing down of the operations in the company, settlement costs totalling £795,755 were incurred. These costs comprised £641,954 in respect of wages and salaries, £85,949 relating to pension obligations, £61,852 in respect of employers national insurance and £6,000 in respect of other staff costs. (2024: 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).

6
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 November 2024
261,795
733,333
995,128
Additions
-
0
1,571
1,571
Exchange adjustments
(3,996)
(11,196)
(15,192)
At 31 October 2025
257,799
723,708
981,507
Depreciation and impairment
At 1 November 2024
261,165
724,876
986,041
Depreciation charged in the year
-
0
3,351
3,351
Exchange adjustments
(3,366)
(4,519)
(7,885)
At 31 October 2025
257,799
723,708
981,507
Carrying amount
At 31 October 2025
-
0
-
0
-
0
At 31 October 2024
630
8,457
9,087

The fixed assets were depreciated to a nil net book value as the directors judge that no value can be recovered.

7
Fixed asset investments
2025
2024
£
£
Unlisted investments
1,352
1,373
I.D.C. (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
7
Fixed asset investments
(Continued)
- 9 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 November 2024
1,373
Exchange adjustments
(21)
At 31 October 2025
1,352
Carrying amount
At 31 October 2025
1,352
At 31 October 2024
1,373
I.D.C. (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 10 -
8
Subsidiaries

Details of the company's subsidiaries at 31 October 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Industrial Diamond Company Limited
England and Wales
Ordinary
100
Lunzers Limited
England and Wales
Ordinary
100
9
Stocks
2025
2024
£
£
Finished goods and goods for resale
-
0
1,053,823

At 31 October 2025, the company held no stock, as all stock was transferred to the buyer under the Asset Purchase Agreement on 17 October 2025.

There was a reversal of a previously recognised impairment of £24,063 which was generated as the disposal of the company's stock generated proceeds greater than their carrying value.

10
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
193,124
278,496
Amounts due by related parties
4,041
107
Other debtors
67,792
11,061
Prepayments and accrued income
19,423
40,876
284,380
330,540
11
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
31,521
51,105
Amounts owed to subsidiary undertakings
2,090
2,090
Other creditors
22,661
18,006
Accruals and deferred income
827,376
21,984
883,648
93,185
12
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
900,000
900,000
900,000
900,000
I.D.C. (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 11 -
13
Financial commitments, guarantees and contingent liabilities

Under the Asset Purchase Agreement where the business was sold on 17 October 2025, limited warranties were granted to the buyer that expire on 17 October 2026. At the Reporting Date, no issues have arisen that make the Director believe that a claim will be forthcoming.

14
Related party transactions

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 £4,041 by Fairport (Investments) Limited, a company that is related by virtue of common shareholders and directors, by 31 October 2025 (2024 - £107 owed by Fairport (Investments) Limited).

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

iii) The company leases premises from Fairport (Investments) Limited for an annual rental of £95,000 (2024: £95,000). This lease was terminated on 31 January 2026.

Under the agreement service charges are also payable and in the year ended 31 October 2025 these amounted to £12,658 (2024 - £10,903).

iv) The company was 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 £136,000 (2024 - £125,650) 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:

2025
2024
£
£
Short-term Employee Benefits
369,863
336,822
Post-employment Benefits
30,092
28,999
Total Key Management Compensation
399,955
365,821
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