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REGISTERED NUMBER: 06925506















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

2BUY2.COM LIMITED

2BUY2.COM LIMITED (REGISTERED NUMBER: 06925506)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


2BUY2.COM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: R W Kissick
R Stables





SECRETARY: C J Easun





REGISTERED OFFICE: The Gate
Keppoch Street
Cardiff
CF24 3JW





REGISTERED NUMBER: 06925506





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

2BUY2.COM LIMITED (REGISTERED NUMBER: 06925506)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 68,338 98,450
Tangible assets 5 18,041 56,826
86,379 155,276

CURRENT ASSETS
Debtors 6 446,789 225,945

CREDITORS
Amounts falling due within one year 7 558,330 410,159
NET CURRENT LIABILITIES (111,541 ) (184,214 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,162

)

(28,938

)

CREDITORS
Amounts falling due after more than one
year

8

107,895

142,486
NET LIABILITIES (133,057 ) (171,424 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (133,357 ) (171,724 )
SHAREHOLDERS' FUNDS (133,057 ) (171,424 )

2BUY2.COM LIMITED (REGISTERED NUMBER: 06925506)

BALANCE SHEET - continued
30 JUNE 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





R Stables - Director


2BUY2.COM LIMITED (REGISTERED NUMBER: 06925506)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

2buy2.com Limited 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.

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.

These accounts are prepared on a Going Concern basis. The company returned to profit in FY22/23 and is reducing debt. Turnover levels are expected to increase and, combined with cost savings measures and ongoing support from Company Shareholders, the Company is expecting to continue to trade for the foreseeable future.

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

Turnover is recognised when the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Website development costs have been capitalised in accordance with the FRS102 1A and are being amortised over their estimated useful life of three years.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, plus any costs directly attributable to bringing the asset to its working condition for its intended use.

Depreciation and residual values
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and Machinery: 20 - 33% on cost

Assets held under finance leases are depreciated in the same way as owned assets.

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.


2BUY2.COM LIMITED (REGISTERED NUMBER: 06925506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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.

Pension costs and other post-retirement benefits
The company makes payments to group personal pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2022 326,162
Additions 24,505
Disposals (644 )
At 30 June 2023 350,023
AMORTISATION
At 1 July 2022 227,712
Amortisation for year 54,617
Eliminated on disposal (644 )
At 30 June 2023 281,685
NET BOOK VALUE
At 30 June 2023 68,338
At 30 June 2022 98,450

2BUY2.COM LIMITED (REGISTERED NUMBER: 06925506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 119,058
Disposals (15,693 )
At 30 June 2023 103,365
DEPRECIATION
At 1 July 2022 62,232
Charge for year 33,456
Eliminated on disposal (10,364 )
At 30 June 2023 85,324
NET BOOK VALUE
At 30 June 2023 18,041
At 30 June 2022 56,826

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 132,694 118,582
Other debtors 314,095 107,363
446,789 225,945

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 70,977 54,761
Finance leases (see note 9) - 2,078
Trade creditors 45,850 49,506
Taxation and social security 181,112 148,845
Other creditors 260,391 154,969
558,330 410,159

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 107,895 142,486

2BUY2.COM LIMITED (REGISTERED NUMBER: 06925506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


9. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year - 2,078

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 70,977 54,761
Finance leases - 2,078
70,977 56,839

Loans in respect of hire purchase and finance lease agreements are secured against the assets to which they relate.