23.5 DEGREES LIMITED

• ◆

  3 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

Standalone (parent only)

Auditor

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Taking into consideration all actions successfully put in place by the business in the past thirteen months and the agility to adapt to ever-changing macro factors, the Directors have adopted the going concern basis of preparation for these accounts after assessing the principal risks and having considered the impact of downside scenarios for the following thirteen months. A signed Letter of Support has been received from Starbucks Corporation. The letter demonstrates its commitment to provide financial support for a period of at least twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.”

Significant events

• “The Company has also rolled out eleven new Drive Thru stores post year end, underpinning its strategy to keep rolling out this type of assets in the coming years.”
• “After a portfolio review, the Company has closed 12 stores during October 2025. The business made decisions to close stores that did not demonstrate a viable path to profitability, or meet our standards of delivering a warm, welcoming space for our customers and partners. A further store has also been closed post year end separate to the above mentioned portfolio review.”
• “During the first quarter of 2026 financial year the Starbucks Group completed a corporate restructure involving the transfer of 23.5 Degrees from Starbucks Corporation to Starbucks Coffee Holdings (UK) Limited. Starbucks Coffee Holdings (UK) Limited is now the immediate parent.”
• “On 13th February 2026, a capital reduction took place which reduced the share capital value to £9.62.”
• “On 20th February 2026, Starbucks Coffee Company (UK) Limited made an irrevocable, unconditional capital contribution of £20,000,000 to the Company.”

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

Filings

19

last 12 months

Capital events

3

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

  +21.9%

  £93,081,875 → £113,457,406

• Cash

  -10.9%

  £7,744,914 → £6,899,370

• Net assets

  -121.4%

  £5,852,126 → -£1,253,857

• Employees

  -1.3%

  1,871 → 1,846

• Operating profit

  -142.3%

  £3,501,837 → -£1,482,776

• Profit before tax

  -406.2%

  £2,805,750 → -£8,592,179

• Wages

  +33.8%

  £24,459,724 → £32,734,419

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