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REGISTERED NUMBER: 11417438 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

HY TWO LTD

HY TWO LTD (REGISTERED NUMBER: 11417438)

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


HY TWO LTD

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTOR: D L H Yates





REGISTERED OFFICE: Hy Hotel
318 -328 Clifton Drive North
Lytham St Annes
Lancashire
FY8 2PB





REGISTERED NUMBER: 11417438 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB

HY TWO LTD (REGISTERED NUMBER: 11417438)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 161,859 88,295

CURRENT ASSETS
Debtors 6 1,231,991 785,022
Cash at bank and in hand 57 158
1,232,048 785,180
CREDITORS
Amounts falling due within one year 7 1,315,984 826,407
NET CURRENT LIABILITIES (83,936 ) (41,227 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,923

47,068

CREDITORS
Amounts falling due after more than one
year

8

40,284

40,115
NET ASSETS 37,639 6,953

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 37,539 6,853
37,639 6,953

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 director acknowledges his 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.

HY TWO LTD (REGISTERED NUMBER: 11417438)

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 director and authorised for issue on 22 May 2025 and were signed by:





D L H Yates - Director


HY TWO LTD (REGISTERED NUMBER: 11417438)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Hy Two Ltd 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS102 Section 1A for small entities. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

HY TWO LTD (REGISTERED NUMBER: 11417438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 June 2023 - 100,589 4,170 104,759
Additions 86,194 1,849 - 88,043
At 31 May 2024 86,194 102,438 4,170 192,802
DEPRECIATION
At 1 June 2023 - 15,088 1,376 16,464
Charge for year - 13,103 1,376 14,479
At 31 May 2024 - 28,191 2,752 30,943
NET BOOK VALUE
At 31 May 2024 86,194 74,247 1,418 161,859
At 31 May 2023 - 85,501 2,794 88,295

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 196,020 130,002
Amounts owed by group undertakings 881,804 586,023
Other debtors 26,126 4,778
VAT 128,041 64,219
1,231,991 785,022

HY TWO LTD (REGISTERED NUMBER: 11417438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 9) 9,250 9,418
Trade creditors 164,954 207,482
Amounts owed to group undertakings 1,123,958 587,578
Social security and other taxes 14,035 4,302
Other creditors 1,287 15,527
Accruals and deferred income 2,500 2,100
1,315,984 826,407

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 9) 40,284 40,115

9. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,250 9,418

Amounts falling due between one and two years:
Bank loans - 1-2 years 40,284 40,115