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REGISTERED NUMBER: 11360482 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

DYER & HOBBIS 2 LIMITED

DYER & HOBBIS 2 LIMITED (REGISTERED NUMBER: 11360482)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

DYER & HOBBIS 2 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: O R Dyer
A Hobbis





REGISTERED OFFICE: 43 Havelock Road
Hastings
East Sussex
TN34 1BE





REGISTERED NUMBER: 11360482 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

DYER & HOBBIS 2 LIMITED (REGISTERED NUMBER: 11360482)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 430,000 430,000

CURRENT ASSETS
Debtors 5 3,472 5,973
Cash at bank 6,172 4,473
9,644 10,446
CREDITORS
Amounts falling due within one year 6 146,613 144,404
NET CURRENT LIABILITIES (136,969 ) (133,958 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

293,031

296,042

CREDITORS
Amounts falling due after more than one
year

7

(184,492

)

(200,470

)

PROVISIONS FOR LIABILITIES (17,961 ) (17,961 )
NET ASSETS 90,578 77,611

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 89,578 76,611
SHAREHOLDERS' FUNDS 90,578 77,611

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

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

DYER & HOBBIS 2 LIMITED (REGISTERED NUMBER: 11360482)

BALANCE SHEET - continued
31 MAY 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 Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:




A Hobbis - Director



O R Dyer - Director


DYER & HOBBIS 2 LIMITED (REGISTERED NUMBER: 11360482)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Dyer & Hobbis 2 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 as modified by the revaluation of certain assets.

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements. Against the backdrop of the COVID-19 Pandemic the directors have paid particular attention to likely cashflow requirements and the future availability of adequate cashflow to the company.

On the basis of this consideration, the directors are satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover
Turnover represents rental income due.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

DYER & HOBBIS 2 LIMITED (REGISTERED NUMBER: 11360482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 430,000
NET BOOK VALUE
At 31 May 2024 430,000
At 31 May 2023 430,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2019 1,297
Valuation in 2021 14,000
Valuation in 2022 46,000
Valuation in 2023 10,547
Cost 358,156
430,000

If investment property had not been revalued it would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 358,156 358,156

investment property was valued on an open market basis on 4 December 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 2,135 4,000
Other debtors 1,337 1,973
3,472 5,973

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 5,660 5,160
Trade creditors - 480
Tax 3,064 1,036
VAT 643 722
Other creditors 135,448 134,648
Accrued expenses 1,798 2,358
146,613 144,404

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 6,460 5,660
Bank loans - 2-5 years 23,480 21,780
Bank loans more 5 yr by instal 154,552 173,030
184,492 200,470

DYER & HOBBIS 2 LIMITED (REGISTERED NUMBER: 11360482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.5.24 31.5.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 154,552 173,030

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 190,152 205,630

There are three charges in place in respect of the loans, two are provided by HSBC Bank PLC. The other one is provided by Shawbrook Bank Limited.These are fixed and floating charges secured on the assets of the company.

9. RELATED PARTY DISCLOSURES

As at the balance sheet date there was an inter company loan in place from Dyer and Hobbis Ltd for £14,848 (2023 - £14,848), a company under the joint control of the directors.

As at the balance sheet date there was an inter company loan in place from Dyer and Hobbis Investments Ltd for £115,000 (2023 - £115,000), a company under the joint control of the directors.

10. GOING CONCERN

Although current liabilities exceed current assets, the company has the full support of the directors and the intention to trade as normal going forward. The accounts have therefore been prepared on the assumption that the company will continue to trade for more than 12 months.

Within current liabilities as other creditors are loans of £129,848 (2023 £129,848), this consists of amounts payable to Dyer and Hobbis Ltd of £14,848 (2023 £14,848) and Dyer and Hobbis Investments Ltd of £115,000 (2023 £115,000). Due to these loans having no terms attached and being repayable on demand the liability is shown within the accounts as current.

Dyer and Hobbis Ltd and Dyer and Hobbis Investments Ltd are under the same control as Dyer and Hobbis 2 Ltd therefore, the directors can dictate at what point and how much of the loan is repayable. The loan will only be required for repayment when Dyer and Hobbis 2 Ltd has sufficient funds to do so.

Therefore through their direct control of Dyer and Hobbis 2 Ltd and indirectly through their control of Dyer and Hobbis Ltd and Dyer and Hobbis Investments Ltd the directors fully support the company and confirm their assessment of its ability to continue to trade.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DYER & HOBBIS 2 LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dyer & Hobbis 2 Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Dyer & Hobbis 2 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dyer & Hobbis 2 Limited and state those matters that we have agreed to state to the Board of Directors of Dyer & Hobbis 2 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dyer & Hobbis 2 Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Dyer & Hobbis 2 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dyer & Hobbis 2 Limited. You consider that Dyer & Hobbis 2 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Dyer & Hobbis 2 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


17 January 2025