284 Degrees Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

284 Degrees Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 16091415 . The registered office is Office F1, Berkeley House, Dix's Field, Exeter, Devon, EX1 1PZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The director has assessed the Statement of Financial Position 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.

2.3. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and can be reliably measured.

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs, only when all of the following conditions are satisfied:

• the turnover amount can be measured reliably

• it is probable that the Company will receive the consideration due under the contract

• the stage of the completion of the contract at the end of the period can be measured reliably, and

• the costs incurred and the costs to complete the contract can be measured reliably

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% reducing balance

The Assets residual values, useful lives and depreciation methods are reviewed and adjusted if deemed necessary for the end of the Accounting period.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account

2.5. Investment Properties

Investment Property is measured using the fair value accounting rules. Fair value gains and losses pass through the profit & loss account. These are then shown as Non-Distributable Reserves on the Balance Sheet.

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284 Degrees Ltd

Notes to the Financial Statements (continued)

For the Period 20 November 2024 to 31 March 2026

2.6. Foreign Currencies

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

Foreign currency transactions are translated into the functional currency using the exchange rate at the date of the transaction. At each period end foreign currency monetary items are translated using the closing rate. Non- monetary items measured at historical cost are translated at the rate at the date of the transaction. All differences are charged to profit or loss.

2.7. Taxation

Tax is recognised in the profit and loss account, 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.

Current tax is the amount of income tax payable in respect of taxable profits for the year or prior years and 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.

A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current or prior periods.

Deferred tax arises from timing differences between taxable profits for the period and those shown in the financial statements. Deferred tax is recognised on all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only 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 and that are expected to apply to the reversal of the timing differences.

2.8. Pensions

The Company pays contributions into a defined contributions scheme for its employees and directors. The pension cost charge represents contributions payable by the Company into these schemes and amounted to £7,500.

2.9. Debtors

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.

2.10. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.11. Creditors

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.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 1

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284 Degrees Ltd

Notes to the Financial Statements (continued)

For the Period 20 November 2024 to 31 March 2026

4. Tangible Assets

	Plant & Machinery
	£
Cost or Valuation
As at 20 November 2024	-
Additions	3,712

As at 31 March 2026	3,712

Depreciation
As at 20 November 2024	-
Provided during the period	619

As at 31 March 2026	619

Net Book Value
As at 31 March 2026	3,093

As at 20 November 2024	-

5. Investment Property

	31 March 2026
	£
Fair Value
As at 20 November 2024	-
Additions	535,133
Revaluations	69,887

As at 31 March 2026	605,020

The investment properties are valued by the director, based on observed values of similar local properties and factoring in the impact of improvements made during the year.

6. Creditors: Amounts Falling Due Within One Year

	31 March 2026
	£
Trade creditors	582
Other creditors	24,873
Taxation and social security	821

	26,276

7. Creditors: Amounts Falling Due After More Than One Year

	31 March 2026
	£
Other creditors	510,239

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284 Degrees Ltd

Notes to the Financial Statements (continued)

For the Period 20 November 2024 to 31 March 2026

8. Share Capital

	31 March 2026
Allotted, called up and fully paid	£
100 Ordinary Shares of £ 1 each	100

9. Directors Advances, Credits and Guarantees

Included within creditors are the following loans from directors:

	As at 20 November 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Cristopher Peter Cadby	-	(560,820 )	41,881	-	(518,939 )

The above loan is unsecured, interest free and repayable on demand. It is expected to be repaid as and when sufficient cash is available and therefore shown under Other creditors falling due within 1 year and after 1 year as per these expectations.

10. Reserves

	Non-distributable reserves	Profit and Loss Account
	£	£
As at 20 November 2024	-	-
Profit for the period and total comprehensive income	-	55,292

Transfer to/from non-distributable reserves	-	(69,887)
Transfer to/from Profit & Loss Account	69,887	-

As at 31 March 2026	69,887	(14,595 )

11. Additional Disclosures

Comparative Figures

There are no comparative figures shown as this is the first set of accounts since incorporation on 20th November 2024

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		31 March 2026
	Notes	£	£
FIXED ASSETS
Tangible Assets	4		3,093
Investment Properties	5		605,020

			608,113
CURRENT ASSETS
Cash at bank and in hand		2,039

		2,039
Creditors: Amounts Falling Due Within One Year	6	(26,276 )

NET CURRENT ASSETS (LIABILITIES)			(24,237 )

TOTAL ASSETS LESS CURRENT LIABILITIES			583,876

Creditors: Amounts Falling Due After More Than One Year	7		(510,239 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(18,245 )

NET ASSETS			55,392

CAPITAL AND RESERVES
Called up share capital	8		100
Non-distributable reserves	10		69,887
Profit and Loss Account			(14,595 )

SHAREHOLDERS' FUNDS			55,392