Twenty Degrees Limited 30/06/2025 iXBRL

Company registration number: 03812840

Twenty Degrees Limited

Filleted financial statements

30 June 2025

Twenty Degrees Limited

Contents

Directors responsibilities statement

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Twenty Degrees Limited

Directors responsibilities statement

Year ended 30 June 2025

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Twenty Degrees Limited

Statement of financial position

30 June 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	3	29,696		15,766
		_______		_______
			29,696		15,766

Current assets
Debtors	4	1,772,570		1,492,014
Cash at bank and in hand		3,457,840		3,539,647
		_______		_______
		5,230,410		5,031,661
Creditors: amounts falling due
within one year	5	( 2,998,600)		( 2,945,240)
		_______		_______
Net current assets			2,231,810		2,086,421
			_______		_______
Total assets less current liabilities			2,261,506		2,102,187


Provisions for liabilities			( 7,424)		( 3,941)

			_______		_______
Net assets			2,254,082		2,098,246
			_______		_______

Capital and reserves
Called up share capital			75		75
Profit and loss account	6		2,254,007		2,098,171
			_______		_______
Shareholders funds			2,254,082		2,098,246
			_______		_______

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 December 2025 , and are signed on behalf of the board by:

Mr Philip Turnbull

Director

Company registration number: 03812840

Twenty Degrees Limited

Statement of changes in equity

Year ended 30 June 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 July 2023	100	2,109,114	2,109,214

Profit for the year		189,057	189,057
	_______	_______	_______
Total comprehensive income for the year	-	189,057	189,057

Dividends paid and payable		( 200,000)	( 200,000)
Cancellation of subscribed capital	( 25)	-	( 25)
	_______	_______	_______
Total investments by and distributions to owners	( 25)	( 200,000)	( 200,025)

	_______	_______	_______
At 30 June 2024 and 1 July 2024	75	2,098,171	2,098,246

Profit for the year		335,836	335,836
	_______	_______	_______
Total comprehensive income for the year	-	335,836	335,836

Dividends paid and payable		( 180,000)	( 180,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 180,000)	( 180,000)

	_______	_______	_______
At 30 June 2025	75	2,254,007	2,254,082
	_______	_______	_______

Twenty Degrees Limited

Notes to the financial statements

Year ended 30 June 2025

1. General information

Twenty Degrees Limited (Company number 03812840 ) is a private company limited by shares, registered in England & Wales. The address of the registered office is 5 West Court, Enterprise Road, Maidstone, Kent, ME15 6JD.

On 23 September 2024 the company changed its name from Coregeo Limited to Twenty Degrees Limited.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for royalty income earned, net of discounts and Value Added Tax.

Revenue from the above stated services is measured by reference to the reliable estimate of the stage of completion of the services provided at the end of the reporting period. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors and creditors, and loans to third parties.

2. Employee numbers

The average number of persons employed by the company, including directors, during the year amounted to 27 (2024: 27).

3. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 July 2024	156,607	156,607
Additions	28,087	28,087
Disposals	( 60,540)	( 60,540)
	_______	_______
At 30 June 2025	124,154	124,154
	_______	_______
Depreciation
At 1 July 2024	140,841	140,841
Charge for the year	14,064	14,064
Disposals	( 60,447)	( 60,447)
	_______	_______
At 30 June 2025	94,458	94,458
	_______	_______
Carrying amount
At 30 June 2025	29,696	29,696
	_______	_______
At 30 June 2024	15,766	15,766
	_______	_______

4. Debtors

	2025	2024
	£	£
Trade debtors	1,419,263	1,444,946
Amounts owed by group undertakings and undertakings in which the company has a participating interest	178,372	-
Other debtors	174,935	47,068
	_______	_______
	1,772,570	1,492,014
	_______	_______

5. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	530,537	375,012
Amounts owed to group undertakings and undertakings in which the company has a participating interest	-	465,035
Social security and other taxes	159,474	215,522
Other creditors	2,308,589	1,889,671
	_______	_______
	2,998,600	2,945,240
	_______	_______

Other creditors includes an amount of £1,751,508 (2024 - £1,702,805) in respect of Pink Lady promotional funds and a further £361,099 (2024 - £-) in respect of promotional funds to other brand holders.

6. Reserves

The profit and loss reserve brought forward consists of the accumulation of the company's profit or loss since the company was incorporated. The movements within this reserve in the year is the profit during the year, less dividends declared.

7. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	41,761	41,266
Later than 1 year and not later than 5 years	32,930	73,454
	_______	_______
	74,691	114,720
	_______	_______

8. Contingent liabilities

The company is currently in a legal dispute with another UK company over the early exit of an IT contract. The potential value of the claim is material, but it is not yet possible to reliably estimate the outcome of the dispute or the level of financial penalty that may ensue, if any.

9. Summary audit opinion

The auditor's report dated 11 December 2025 was unqualified .

The senior statutory auditor was Stuart Relf FCCA for and on behalf of Henry Reeves & Co Limited

10. Directors advances, credits and guarantees

There were no advances, credits or guarantees made to any of the directors during the year.

11. Related party transactions

As the company is a wholly owned subsidiary of Twenty Degrees Pty Ltd, the company has taken advantage of the exemption contained in FRS102 Section 33.1a and has therefore not disclosed transactions or balances with wholly owned subsidiaries which form part of the group.

12. Controlling party

On 2 July 2024, the ultimate parent undertaking, Apple and Pear Australia Limited, transferred its 100% shareholding of Twenty Degrees Limited to Twenty Degrees Pty Ltd, a company incorporated in Australia. Twenty Degrees Pty Ltd is itself 100% owned by Apple and Pear Australia Limited, and the transfer of ownership represents a restructuring of the group under which all entities operate. The ultimate parent undertaking is Apple and Pear Australia Limited, a company incorporated in Australia. Copies of its accounts can be obtained from Level 2, 250 Victoria Parade, East Melbourne, Victoria 3002.