Company No: 13463022 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Paul Antony Beale

SECRETARY

Kate Beale

REGISTERED OFFICE	Studio 20 The Gantry
	1 Waterden Road
	London
	E15 2HB
	United Kingdom

COMPANY NUMBER

13463022 (England and Wales)

ACCOUNTANT	Praxis
	1 Fore Street Avenue
	London
	EC2Y 9DT
	United Kingdom

	Note	2026		2025
		£		£
				Restated - note 2
Fixed assets
Investments	4	61,876		61,876
		61,876		61,876
Current assets
Investments	5	2,156		2,156
Cash at bank and in hand		169		208
		2,325		2,364
Creditors: amounts falling due within one year	6	( 30,092)		( 27,591)
Net current liabilities		(27,767)		(25,227)
Total assets less current liabilities		34,109		36,649
Net assets		34,109		36,649
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		34,009		36,549
Total shareholders' funds		34,109		36,649

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of 18 Degrees Holdings Ltd (registered number: 13463022) were approved and authorised for issue by the Director on 23 October 2026. They were signed on its behalf by:

Paul Antony Beale Director

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, 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.

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.

Non-financial assets
At each balance sheet date, the Company reviews its tangible and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

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. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

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. Prior year adjustment

During the preparation of the financial statements for the year ended 31 January 2026, there were errors identified in the presentation and recognition of certain balances in the comparative financial statements for the year ended 31 January 2025.

Amounts previously reported within current asset investments included dividend income receivable from subsidiary that should have been recognised as income from shares in a group undertaking. As a result, current asset investments were reduced by £150,837 and the corresponding group undertaking balance was restated.

The adjustments did not affect profit before taxation, total revenue, cash balances or share capital for the year ended 31 January 2025.

The effect of the adjustment on the comparatives is as follows:

		As previously reported		Adjustment		As restated
Year ended 31 January 2025		£		£		£
Current asset investments		152,993		(150,837)		2,156
Amounts owed to own subsidiaries		(177,103)		150,838		(26,265)
Taxation and social security		0		(1,326)		(1,326)
Net assets		37,974		(1,325)		36,649
Profit and loss account		37,874		(1,325)		36,549

The adjustments relate solely to balance arising in the year ended 31 January 2025. Based on the comparative information presented in the signed 2025 financial statements and the restated 2025 comparatives included in the 2026 financial statements, there is no evidence of any adjustment to opening reserves or balance sheet balances at 1 February 2024. Accordingly, the opening balances at 1 February 2024 remain unchanged.

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	0		0

4. Fixed asset investments

Investments in subsidiaries

	2026
	£
Cost
At 01 February 2025	61,876
At 31 January 2026	61,876
Carrying value at 31 January 2026	61,876
Carrying value at 31 January 2025	61,876

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.01.2026	Ownership 31.01.2025	Held
18 Degrees Below LTD	Studio 20 The Gantry, 1 Waterden Road, London, England, E15 2HB	Lighting design consultancy	Ordinary	100.00%	100.00%	Direct

5. Current asset investments

	2026		2025
	£		£
Listed investments – at fair value	2,156		2,156

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

	2026		2025
	£		£
Amounts owed to own subsidiaries	28,306		26,265
Taxation and social security	1,326		1,326
Other creditors	460		0
	30,092		27,591

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.

Included within other creditors is an amount of £460 (2025: £Nil) due to the directors. The balance is repayable on demand and free of interest.

7. Called-up share capital

	2026		2025
	£		£
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 2026.

9. Events after the Balance Sheet date

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