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Registered number: 04689454
2 BY 2 HOLIDAYS LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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2 BY 2 HOLIDAYS LTD
REGISTERED NUMBER: 04689454
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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14 month
period ended
31 December
2025
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12 month
period ended
31 October
2024
As restated
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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2 BY 2 HOLIDAYS LTD
REGISTERED NUMBER: 04689454
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 June 2026.
The notes on pages 6 to 15 form part of these financial statements.
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2 BY 2 HOLIDAYS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 6 to 15 form part of these financial statements.
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2 BY 2 HOLIDAYS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Comprehensive income for the period
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Total comprehensive income for the period
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The notes on pages 6 to 15 form part of these financial statements.
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2 BY 2 HOLIDAYS LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
Cash flows from operating activities
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Profit for the financial year
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Depreciation of tangible assets
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(Increase)/decrease in amounts owed by groups
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Net cash generated from operating activities
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Cash flows from investing activities
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Purchase of tangible fixed assets
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Net cash from investing activities
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Cash flows from financing activities
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Net cash used in financing activities
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Net (decrease)/increase in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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Cash and cash equivalents at the end of year
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Cash and cash equivalents at the end of year comprise:
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The notes on pages 6 to 15 form part of these financial statements.
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2 by 2 Holidays Limited is a company domiciled in England and Wales, registration number 04689454. The registered office is C/O Wexas Limited, Runway East Borough Market, 20 St. Thomas Street, London SE1 9RS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Due to the consumer unease in relation to the current economic environment, increasing energy costs, Group management and the directors have continued to review the Group’s financial position. This is to ensure a swift response to any changes in planned trading performance.
The directors have prepared Group budgets and cashflow forecasts to December 2027 which reflect good operational liquidity and profitability throughout. Additionally, they have also performed a sensitivity analysis on the Group's budgets and forecasts to assess the financial impact of any potential further slowdown in trading from the reforecast and its impact on the liquidity of the business. The sensitivity analysis shows that the Group has enough liquidity and cash to trade through a further slowdown.
Group management and the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from the signing of these financial statements.
As a result, the directors believe that it is appropriate to apply the going concern basis for the foreseeable future.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is the amount derived from ordinary activities and represents the aggregate revenue receivable from tours departed during the year.
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Change in revenue recognition policy
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The Company has revised its revenue recognition policy to account for revenue from departures occurring within the year, as opposed to previous approach of also recognising all deposits received for future departures. Comparative figures have been restated to reflect this change. The directors believe that the new policy offers a more prudent presentation of revenue, aligning with practices adopted by larger tour operators and matching the revenue recognition policy of Wexas Limited.
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Profit/(loss) for the year
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Effect of change in accounting policy
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The company, fully owned by Wexas Limited, has invoked the exemption from audit as permitted by section 479A of the Companies Act for the financial year ending 31 December 2025.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and 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 countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible fixed assets under the cost model 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.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or 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 in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgments are continually evaluated and are based on historical experience and otherfactors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgments in applying the Company's accounting policies
The directors believe that there are no critical judgments involved in applying the Company's accounting policies that warrant disclosure.
b) Key accounting estimates and assumptions
The directors believe that there are no key accounting estimates and assumptions involved in applying the Company's accounting policies that warrant disclosure.
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The average monthly number of employees, including the directors, during the year was as follows:
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Charge for the year on owned assets
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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14 month
period ended
31 December
2025
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12 month
period ended
31 October
2024.
As restated
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Amounts owed by group undertakings
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Prepayments and accrued income
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Included in prepayments and accrued income is the sum of £262,940 (2024 - £221,901) of supplier payments made in advance for departures from 1 January 2026 onwards.
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Cash and cash equivalents
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14 month
period ended
31 December
2025
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12 month
period ended
31 October
2024
As restated
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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14 month
period ended
31 December
2025
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12 month
period ended
31 October
2024
As restated
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Other taxation and social security
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Accruals and deferred income
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Included in accruals and deferred income is the sum of £521,616 (2024 - £370,776) which relates to advance money received for departures from 1 January 2026 onwards.
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Creditors: Amounts falling due after more than one year
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14 month
period ended
31 December
2025
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12 month
period ended
31 October
2024
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Analysis of the maturity of loans is given below:
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14 month
period ended
31 December
2025
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12 month
period ended
31 October
2024.
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Amounts falling due within one year
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Amounts falling due 1-2 years
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14 month
period ended
31 December
2025
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Charged to profit or loss
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
11.Deferred taxation (continued)
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The deferred tax asset is made up as follows:
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14 month
period ended
31 December
2025
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12 month
period ended
31 October
2024
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Tax losses carried forward
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At 31 December 2025, there were contingent liabilities outstanding in respect of counter indemnities given by the Company, in the normal course of business, to the Company's bond insurance obligors in respect of ABTOT bond amounting to £49,310 (2024 - £Nil).
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £42,229 (2024 - £24,000).
During the year on 1 July 2025, Wexas Limited, whose registered address is Runway East Borough Market, 20 St. Thomas Street, London SE1 9RS, acquired the entire share capital of the Company.
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Related party transactions
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Wexas Limited - owns the entire share capital of 2 By 2 Holidays Limited (refer- note14). Intercompany balance due from the related party, at the year end (included in debtors due within one year) amounted to £116,814 (2024 - £Nil).
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The immediate and ultimate holding company is Rivers (Holdings) Limited, a company registered in Seychelles whose registered office is situated at Office 1, 1st Floor, Dekk Complex, PO Box 456, Mahe, Seychelles and its registered number is 114492. Rivers (Holdings) Limited is ultimately controlled by Intercontinental Trust (Seychelles) Limited.
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2 BY 2 HOLIDAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Post balance sheet events
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On 1 January 2026, the Company was hived up in Wexas Limited, the parent organisation.
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