53 DEGREES GLOBAL LIMITED

• ⚠

  Material uncertainty over going concern

  At 30 September 2024, net current liabilities in the group and parent company respectively were £2,287,537 and £1,802,970. We also draw attention to Note 2 in the financial statements which indicates that the group has incurred significant restructuring costs in the year and continues to rely on its bank facility. These matters indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

1. 53 DEGREES GLOBAL LIMITED 2023-10-13 → present
2. SPUN GOLD TV LIMITED 2004-10-08 → 2023-10-13
3. SPUNGOLD TV LIMITED 2004-05-12 → 2004-10-08

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Malthouse & Company Chartered Accountants

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“At 30 September 2024, net current liabilities in the group and parent company respectively were £2,287,537 and £1,802,970. We also draw attention to Note 2 in the financial statements which indicates that the group has incurred significant restructuring costs in the year and continues to rely on its bank facility. These matters indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.”

Group structure

1. 53 DEGREES GLOBAL LIMITED · parent
   1. Spun Gold TV West Midlands Limited 100% · England and Wales · Television production & distribution
   2. Spun Gold TV (SPV1) Limited 100% · England and Wales · Television production & distribution
   3. Mill Bay Media (SPV2) Limited 100% · England and Wales · Television production & distribution
   4. Spun Gold TV Limited 100% · England and Wales · Television production & distribution
   5. Mill Bay Media (SPV4) Limited 100% · England and Wales · Television production & distribution
   6. Spun Gold TV (SPV5) Limited 100% · England and Wales · Television production & distribution
   7. Penny Lane Entertainment Limited 100% · England and Wales · Television production & distribution
   8. Penny Lane Entertainment West Midlands Limited 100% · England and Wales · Television production & distribution
   9. Out Of The Blue TV Limited 100% · England and Wales · Television production & distribution
   10. Wise Wolf Limited 100% · England and Wales · Television post-production
   11. Love Monday TV Limited 70% · England and Wales · Television production & distribution
   12. Mill Bay Media Limited 51% · England and Wales · Media production & distribution
   13. Joy Peddlers Limited 51% · England and Wales · Media representation services

Significant events

• “In October 2023 we established Mill Bay Media with drama producer Will Trotter to create a scripted business.”
• “The group also established a digital media business, Joy Peddlers, to work with brands and individuals to grow their social presence and create new income streams.”
• “The changes in the market have led to some structural changes required to the current team, the costs of this have been felt in 2024 and will continue into 2025.”
• “There have been several commissions post year-end, that run through to the end of 2026 and beyond.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -22.5%

  £15,686,950 → £12,150,006

• Cash

  +3.7%

  £24,939 → £25,851

• Net assets

  -13.8%

  £3,691,777 → £3,184,073

• Employees

  -2.2%

  46 → 45

• Operating profit

  -56%

  £1,103,122 → £485,516

• Profit before tax

  -72.6%

  £988,060 → £270,293

• Wages

  -20.5%

  £2,587,773 → £2,057,303

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers