Company registration number 04635311 (England and Wales)
21 DEGREES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
21 DEGREES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
21 DEGREES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
42,778
56,876
Current assets
Debtors
4
844,897
1,173,487
Cash at bank and in hand
397,319
150,302
1,242,216
1,323,789
Creditors: amounts falling due within one year
5
(608,406)
(673,427)
Net current assets
633,810
650,362
Total assets less current liabilities
676,588
707,238
Creditors: amounts falling due after more than one year
6
(17,406)
(39,051)
Provisions for liabilities
(10,695)
(14,219)
Net assets
648,487
653,968
Capital and reserves
Called up share capital
50,000
50,000
Share premium account
12,430
12,430
Capital redemption reserve
17,570
17,570
Profit and loss reserves
568,487
573,968
Total equity
648,487
653,968

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
Mr V Noble
Mr S Redhead
Director
Director
Company registration number 04635311 (England and Wales)
21 DEGREES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

21 Degrees Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10, Apollo Court, Monkton Business Park, Hebburn, Tyne and Wear, England, NE31 2ES.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance
Computers
30% straight line
Motor vehicles
25% reducing balance
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

21 DEGREES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
23
23
21 DEGREES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2023 and 31 January 2024
3,529
6,961
94,234
104,724
Depreciation and impairment
At 1 February 2023
2,304
6,961
38,583
47,848
Depreciation charged in the year
185
-
0
13,913
14,098
At 31 January 2024
2,489
6,961
52,496
61,946
Carrying amount
At 31 January 2024
1,040
-
0
41,738
42,778
At 31 January 2023
1,225
-
0
55,651
56,876
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
442,335
634,982
Gross amounts owed by contract customers
360,913
476,044
Other debtors
34,398
38,225
Prepayments and accrued income
7,251
24,236
844,897
1,173,487
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,094
9,647
Obligations under finance leases
11,198
20,924
Trade creditors
456,376
468,034
Corporation tax
39,890
76,660
Other taxation and social security
34,774
26,332
Other creditors
7,003
28,499
Accruals and deferred income
49,071
43,331
608,406
673,427
21 DEGREES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
17,406
27,853
Obligations under finance leases
-
0
11,198
17,406
39,051

The hire purchase creditor is secured against the related assets.

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
233,508
260,248
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Nicholas Cunningham MSc BSc ACCA
Statutory Auditor:
Robson Laidler Accountants Limited
Date of audit report:
29 October 2024
2024-01-312023-02-01false29 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedMr V NobleMr S RedheadMrs C RedheadMrs D Noblefalsefalse046353112023-02-012024-01-31046353112024-01-31046353112023-01-3104635311core:FurnitureFittings2024-01-3104635311core:ComputerEquipment2024-01-3104635311core:MotorVehicles2024-01-3104635311core:FurnitureFittings2023-01-3104635311core:ComputerEquipment2023-01-3104635311core:MotorVehicles2023-01-3104635311core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3104635311core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3104635311core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3104635311core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3104635311core:CurrentFinancialInstruments2024-01-3104635311core:CurrentFinancialInstruments2023-01-3104635311core:Non-currentFinancialInstruments2024-01-3104635311core:Non-currentFinancialInstruments2023-01-3104635311core:ShareCapital2024-01-3104635311core:ShareCapital2023-01-3104635311core:SharePremium2024-01-3104635311core:SharePremium2023-01-3104635311core:CapitalRedemptionReserve2024-01-3104635311core:CapitalRedemptionReserve2023-01-3104635311core:RetainedEarningsAccumulatedLosses2024-01-3104635311core:RetainedEarningsAccumulatedLosses2023-01-3104635311bus:Director12023-02-012024-01-3104635311bus:Director22023-02-012024-01-3104635311core:FurnitureFittings2023-02-012024-01-3104635311core:ComputerEquipment2023-02-012024-01-3104635311core:MotorVehicles2023-02-012024-01-31046353112022-02-012023-01-3104635311core:FurnitureFittings2023-01-3104635311core:ComputerEquipment2023-01-3104635311core:MotorVehicles2023-01-31046353112023-01-3104635311bus:PrivateLimitedCompanyLtd2023-02-012024-01-3104635311bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104635311bus:FRS1022023-02-012024-01-3104635311bus:Audited2023-02-012024-01-3104635311bus:Director32023-02-012024-01-3104635311bus:Director42023-02-012024-01-3104635311bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP