Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Paul Antony Beale 17/06/2021 30 October 2024 The principal activity of the Company during the financial year was that of a holding company of a trading group. 13463022 2024-01-31 13463022 bus:Director1 2024-01-31 13463022 2023-01-31 13463022 core:CurrentFinancialInstruments 2024-01-31 13463022 core:CurrentFinancialInstruments 2023-01-31 13463022 core:ShareCapital 2024-01-31 13463022 core:ShareCapital 2023-01-31 13463022 core:RetainedEarningsAccumulatedLosses 2024-01-31 13463022 core:RetainedEarningsAccumulatedLosses 2023-01-31 13463022 core:CostValuation 2023-01-31 13463022 core:CostValuation 2024-01-31 13463022 core:ListedExchangeTraded core:WithinOneYear 2024-01-31 13463022 core:ListedExchangeTraded core:WithinOneYear 2023-01-31 13463022 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-01-31 13463022 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-01-31 13463022 bus:OrdinaryShareClass1 2024-01-31 13463022 bus:OrdinaryShareClass2 2024-01-31 13463022 2023-02-01 2024-01-31 13463022 bus:FilletedAccounts 2023-02-01 2024-01-31 13463022 bus:SmallEntities 2023-02-01 2024-01-31 13463022 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13463022 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13463022 bus:Director1 2023-02-01 2024-01-31 13463022 2022-02-01 2023-01-31 13463022 core:CurrentFinancialInstruments 2023-02-01 2024-01-31 13463022 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 13463022 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 13463022 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 13463022 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 13463022 1 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13463022 (England and Wales)

18 DEGREES HOLDINGS LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

18 DEGREES HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

18 DEGREES HOLDINGS LTD

COMPANY INFORMATION

For the financial year ended 31 January 2024
18 DEGREES HOLDINGS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTOR Paul Antony Beale
SECRETARY Kate Beale
REGISTERED OFFICE Studio 20 The Gantry
1 Waterden Road
London
E15 2HB
England
United Kingdom
COMPANY NUMBER 13463022 (England and Wales)
CHARTERED ACCOUNTANTS Praxis
1 Poultry
London
EC2R 8EJ
18 DEGREES HOLDINGS LTD

BALANCE SHEET

As at 31 January 2024
18 DEGREES HOLDINGS LTD

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 61,876 61,876
61,876 61,876
Current assets
Debtors 4 22,157 0
Investments 5 91,766 0
Cash at bank and in hand 758 0
114,681 0
Creditors: amounts falling due within one year 6 ( 174,375) ( 61,776)
Net current liabilities (59,694) (61,776)
Total assets less current liabilities 2,182 100
Net assets 2,182 100
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 2,082 0
Total shareholders' funds 2,182 100

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of 18 Degrees Holdings Ltd (registered number: 13463022) were approved and authorised for issue by the Director on 30 October 2024. They were signed on its behalf by:

Paul Antony Beale
Director
18 DEGREES HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
18 DEGREES HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

18 Degrees Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Studio 20 The Gantry, 1 Waterden Road, London, E15 2HB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 61,876
At 31 January 2024 61,876
Carrying value at 31 January 2024 61,876
Carrying value at 31 January 2023 61,876

4. Debtors

2024 2023
£ £
Other debtors 22,157 0

Other debtors represents amounts of £22,157 owed by the directors (2023: £nil). Amounts due are repayable on demand and interest is charged at HMRC official rates.

5. Current asset investments

2024 2023
£ £
Listed investments – at fair value 91,766 0

The fair value of listed investments, which are all traded in active markets, was determined with reference to the quoted market price at the reporting date.

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to own subsidiaries 173,984 61,776
Taxation and social security 391 0
174,375 61,776

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

8. Financial commitments

The Company had no material capital commitments at the year ended 31 January 2024.

9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.