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LY2 LTD

Registered Number
SC708915
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2024

LY2 LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

HOWARD, John Andrew

Registered Address

53-55 Broughton Street
Edinburgh
EH1 3RJ

Registered Number

SC708915 (Scotland)
LY2 LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets30,31529,761
30,31529,761
Current assets
Debtors2,6705,488
Cash at bank and on hand96,63110,950
99,30116,438
Creditors amounts falling due within one year3(129,645)(32,746)
Net current assets (liabilities)(30,344)(16,308)
Total assets less current liabilities(29)13,453
Creditors amounts falling due after one year4(160,303)(222,803)
Net assets(160,332)(209,350)
Capital and reserves
Profit and loss account(160,332)(209,350)
Shareholders' funds(160,332)(209,350)
The financial statements were approved and authorised for issue by the Director on 28 November 2024, and are signed on its behalf by:
HOWARD, John Andrew
Director
Registered Company No. SC708915
LY2 LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes in the normal course of business.
Dividend income
Dividend income is recognised when the right to receive payment is established.
Defined contribution pension plan
The company operates a workplace pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as accruals in the balance sheet.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings8,642
2.Average number of employees

20242023
Average number of employees during the year2010
3.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables33,93629,730
Bank borrowings and overdrafts34,847-
Taxation and social security55,2122,228
Other creditors-788
Accrued liabilities and deferred income5,650-
Total129,64532,746
Accounts payable and taxes. Short term loan.
4.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts160,303222,803
Total160,303222,803
Loan made LTD, with a estimated 5 year term.