REGISTERED NUMBER: 09418333 (England and Wales) |
Group Strategic Report, |
Report of the Director and |
Audited |
Consolidated Financial Statements |
for the Year Ended 31 December 2023 |
for |
One World Holdings Limited |
REGISTERED NUMBER: 09418333 (England and Wales) |
Group Strategic Report, |
Report of the Director and |
Audited |
Consolidated Financial Statements |
for the Year Ended 31 December 2023 |
for |
One World Holdings Limited |
One World Holdings Limited (Registered number: 09418333) |
Contents of the Consolidated Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Director | 4 |
Report of the Independent Auditors | 6 |
Consolidated Income Statement | 10 |
Consolidated Other Comprehensive Income | 11 |
Consolidated Balance Sheet | 12 |
Company Balance Sheet | 13 |
Consolidated Statement of Changes in Equity | 14 |
Company Statement of Changes in Equity | 15 |
Consolidated Cash Flow Statement | 16 |
Notes to the Consolidated Cash Flow Statement | 17 |
Notes to the Consolidated Financial Statements | 18 |
One World Holdings Limited |
Company Information |
for the year ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
43 Manchester Street |
London |
W1U 7LP |
One World Holdings Limited (Registered number: 09418333) |
Group Strategic Report |
for the year ended 31 December 2023 |
The director presents his strategic report of the company and the group for the year ended 31 December 2023. |
REVIEW OF BUSINESS |
One World group's turnover has increased from £25m in 2022 to £27.1m in 2023. During the year, the group continued to focused on its existing key clients to increase market share and consolidate business activity. The sale of freehold property in 2022 has been re-invested in the year to purchase an additional freehold property and the directors expect this to generate further revenue in the future. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The group faces a number of business risks and uncertainties due to prevailing challenging global market conditions. In view of this the director is looking carefully at both existing and potential markets and to cater to a wider audience which will further strengthen the business. |
Financial instruments |
The group has a normal level of exposure to foreign exchange, credit, liquidity and cash flow interest rate risk that arise from trading activities which are conducted mainly in sterling. Foreign currency transactions are covered by foreign currency contracts to minimize exposure to exchange rate volatility. There is some exposure to interest rate risk through the use of borrowings with variable rates, but these are over relatively short periods and the director considers the level of risk to be acceptable. |
Liquidity risk |
Liquidity risk is the risk that the director will not be able to meet its financial obligations as they fall due. To minimise this risk the director regularly monitors liquidity and ongoing working capital requirements. |
Interest rate risk |
The business is exposed to cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The group does not use interest rate derivatives to manage the mix of fixed and variable rate debts but does closely monitor its interest cover ratio. |
Credit risk |
Trade debtors are monitored on an ongoing basis and provision is made for doubful debts where necessary. Credit checks are conducted on new and existing customers to mitigate credit risk. |
War in Ukraine |
The war in Ukraine has impacted the business in that it has resulted in flucutating fuel costs. A prolonged war could have an adverse effect on customer behaviour which will impact parcel volumes. The directors regulary monitor and review the financial impact of rising fuel costs and customer behaviour in order to take action to mitigate the impact on the business. |
RESEARCH AND DEVELOPMENT |
The group continues to invest in infrastructure and technology, enabling seamless integration with online marketplaces around the world. It will put us in a prime position and allow us to expand globally in key emerging markets. |
One World Holdings Limited (Registered number: 09418333) |
Group Strategic Report |
for the year ended 31 December 2023 |
DEVELOPMENT AND PERFORMANCE |
The director anticipates the business environment will remain competitive, that the company is in a good financial position and that the risks that have been identified are being well managed. With careful focus on appropriate diversification and development of new products, as well as continuous review of the state of the market and the activities of competitors, the director is confident in the group's ability to maintain and build on this position, albeit with cautious growth expectations. |
Key performance indicators |
2023 2022 |
Turnover (GBP £'000) 27,106 24,983 |
Gross profit margin % 15.04 16.23 |
Turnover has increased to £27.106m in 2023 compared to £24.983m in 2022. Gross profit is up from £4.054m in the previous year to £4.078m in 2023. The gross profit margin is lower than the previous year at 15.04% compared to 16.23% in 2022. |
ON BEHALF OF THE BOARD: |
23 September 2024 |
One World Holdings Limited (Registered number: 09418333) |
Report of the Director |
for the year ended 31 December 2023 |
The director presents his report with the financial statements of the company and the group for the year ended 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the group in the year under review was that of transport, logistics and courier services. |
The results for the year are set out on page 10. |
DIVIDENDS |
No dividends will be distributed for the year ended 31 December 2023. |
DIRECTOR |
DISCLOSURE IN THE STRATEGIC REPORT |
The company has chosen in accordance with Companies Act 2006, s. 414C(ii) of the Companies Act, the Company has set out certain information in its Strategic report that is otherwise required to be disclosed in the director's report. This includes information regarding results, research and development and risk management. |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the revised financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare revised financial statements for each financial year. Under that law the director has elected to prepare the revised financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the revised financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these revised financial statements, the director is required to: |
- select suitable accounting policies and then apply them consistently; |
- make judgements and accounting estimates that are reasonable and prudent; |
- prepare the revised financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the revised financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
One World Holdings Limited (Registered number: 09418333) |
Report of the Director |
for the year ended 31 December 2023 |
AUDITORS |
The auditors, Shaw Wallace Limited, were appointed on 31st May 2024. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
One World Holdings Limited |
Opinion |
We have audited the financial statements of One World Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's loss for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Material uncertainty relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
One World Holdings Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
One World Holdings Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the courier service sector; we focused on specific laws and regulations which we considered may have a direct material effect on the revised financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, and health and safety legislation; we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company’s revised financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we: |
- performed analytical procedures to identify any unusual or unexpected relationships; |
- tested journal entries to identify unusual transactions; |
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 |
- were indicative of potential bias; and |
- investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: agreeing revised financial statement disclosures to underlying supporting documentation; reading the minutes of meetings of those charged with governance; enquiring of management as to actual and potential litigation and claims; and reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company’s legal advisors. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
One World Holdings Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
43 Manchester Street |
London |
W1U 7LP |
One World Holdings Limited (Registered number: 09418333) |
Consolidated |
Income Statement |
for the year ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
TURNOVER | 27,106,088 | 24,982,592 |
Cost of sales | (23,028,085 | ) | (20,928,451 | ) |
GROSS PROFIT | 4,078,003 | 4,054,141 |
Administrative expenses | (4,829,295 | ) | (5,496,675 | ) |
(751,292 | ) | (1,442,534 | ) |
Other operating income | 621,461 | 685,908 |
OPERATING LOSS | 4 | (129,831 | ) | (756,626 | ) |
Interest receivable and similar income | 4,534 | 636 |
Other finance income | 173,554 | - |
48,257 | (755,990 | ) |
Interest payable and similar expenses | 6 | (515,379 | ) | (247,889 | ) |
Other finance costs | - | (90,909 | ) |
LOSS BEFORE TAXATION | (467,122 | ) | (1,094,788 | ) |
Tax on loss | 7 | 111,096 | (386,374 | ) |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
Loss attributable to: |
Owners of the parent | (269,947 | ) | (1,433,106 | ) |
Non-controlling interests | (86,079 | ) | (48,056 | ) |
(356,026 | ) | (1,481,162 | ) |
One World Holdings Limited (Registered number: 09418333) |
Consolidated |
Other Comprehensive Income |
for the year ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
LOSS FOR THE YEAR | (356,026 | ) | (1,481,162 | ) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
(356,026 |
) |
(1,481,162 |
) |
Total comprehensive income attributable to: |
Owners of the parent | (269,947 | ) | (1,433,106 | ) |
Non-controlling interests | (86,079 | ) | (48,056 | ) |
(356,026 | ) | (1,481,162 | ) |
One World Holdings Limited (Registered number: 09418333) |
Consolidated Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 9 | 2,213,600 | 2,823,451 |
Tangible assets | 10 | 14,193,227 | 12,445,354 |
Investments | 11 | - | - |
16,406,827 | 15,268,805 |
CURRENT ASSETS |
Debtors | 12 | 2,663,318 | 2,579,178 |
Cash at bank and in hand | 1,120,564 | 1,821,495 |
3,783,882 | 4,400,673 |
CREDITORS |
Amounts falling due within one year | 13 | (8,258,418 | ) | (7,922,975 | ) |
NET CURRENT LIABILITIES | (4,474,536 | ) | (3,522,302 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
11,932,291 |
11,746,503 |
CREDITORS |
Amounts falling due after more than one year |
14 |
(7,504,383 |
) |
(6,930,690 |
) |
PROVISIONS FOR LIABILITIES | 17 | (421,058 | ) | (448,937 | ) |
NET ASSETS | 4,006,850 | 4,366,876 |
CAPITAL AND RESERVES |
Called up share capital | 18 | 120,000 | 120,000 |
Retained earnings | 19 | 3,828,572 | 4,098,519 |
SHAREHOLDERS' FUNDS | 3,948,572 | 4,218,519 |
NON-CONTROLLING INTERESTS | 20 | 58,278 | 148,357 |
TOTAL EQUITY | 4,006,850 | 4,366,876 |
The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by: |
Mr A S Bhakta - Director |
One World Holdings Limited (Registered number: 09418333) |
Company Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 9 |
Tangible assets | 10 |
Investments | 11 |
CURRENT ASSETS |
Debtors | 12 |
CREDITORS |
Amounts falling due within one year | 13 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 18 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 150,550 | - |
The financial statements were approved by the director and authorised for issue on |
One World Holdings Limited (Registered number: 09418333) |
Consolidated Statement of Changes in Equity |
for the year ended 31 December 2023 |
Called up |
share | Retained | Non-controlling | Total |
capital | earnings | Total | interests | equity |
£ | £ | £ | £ | £ |
Balance at 1 January 2022 | 120,000 | 5,531,625 | 5,651,625 | 196,413 | 5,848,038 |
Changes in equity |
Total comprehensive income | - | (1,433,106 | ) | (1,433,106 | ) | (48,056 | ) | (1,481,162 | ) |
Balance at 31 December 2022 | 120,000 | 4,098,519 | 4,218,519 | 148,357 | 4,366,876 |
Changes in equity |
Total comprehensive income | - | (269,947 | ) | (269,947 | ) | (86,079 | ) | (356,026 | ) |
Balance at 31 December 2023 | 120,000 | 3,828,572 | 3,948,572 | 62,278 | 4,010,850 |
One World Holdings Limited (Registered number: 09418333) |
Company Statement of Changes in Equity |
for the year ended 31 December 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 January 2022 | ( |
) |
Changes in equity |
Balance at 31 December 2022 | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 31 December 2023 |
One World Holdings Limited (Registered number: 09418333) |
Consolidated Cash Flow Statement |
for the year ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 1,677,323 | 2,378,607 |
Interest paid | (515,379 | ) | (247,889 | ) |
Tax paid | 83,805 | (5,251 | ) |
Net cash from operating activities | 1,245,749 | 2,125,467 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (2,398,046 | ) | (6,962,836 | ) |
Sale of tangible fixed assets | - | 1,883,933 |
Sale of fixed asset investments | 9,944 | - |
Interest received | 4,534 | 636 |
Net cash from investing activities | (2,383,568 | ) | (5,078,267 | ) |
Cash flows from financing activities |
New loans in year | 1,117,352 | 2,555,000 |
Loan repayments in year | (428,349 | ) | (100,911 | ) |
Amount introduced by directors | - | 115,658 |
Amount withdrawn by directors | (252,115 | ) | (132,321 | ) |
Net cash from financing activities | 436,888 | 2,437,426 |
Decrease in cash and cash equivalents | (700,931 | ) | (515,374 | ) |
Cash and cash equivalents at beginning of year |
2 |
1,821,495 |
2,336,869 |
Cash and cash equivalents at end of year | 2 | 1,120,564 | 1,821,495 |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Cash Flow Statement |
for the year ended 31 December 2023 |
1. | RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
31.12.23 | 31.12.22 |
£ | £ |
Loss before taxation | (467,122 | ) | (1,094,788 | ) |
Depreciation charges | 1,260,107 | 955,715 |
Profit on disposal of fixed assets | (9,944 | ) | - |
Interest on other loans | 173,554 | - |
Government grants | (9,032 | ) | (9,027 | ) |
Finance costs | 515,379 | 338,798 |
Finance income | (178,088 | ) | (636 | ) |
1,284,854 | 190,062 |
(Increase)/decrease in trade and other debtors | (84,140 | ) | 1,074,815 |
Increase in trade and other creditors | 476,609 | 1,113,730 |
Cash generated from operations | 1,677,323 | 2,378,607 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31 December 2023 |
31.12.23 | 1.1.23 |
£ | £ |
Cash and cash equivalents | 1,120,564 | 1,821,495 |
Year ended 31 December 2022 |
31.12.22 | 1.1.22 |
£ | £ |
Cash and cash equivalents | 1,821,495 | 2,336,869 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 1.1.23 | Cash flow | At 31.12.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 1,821,495 | (700,931 | ) | 1,120,564 |
1,821,495 | (700,931 | ) | 1,120,564 |
Debt |
Debts falling due within 1 year | (217,994 | ) | (115,310 | ) | (333,304 | ) |
Debts falling due after 1 year | (6,930,690 | ) | (573,693 | ) | (7,504,383 | ) |
(7,148,684 | ) | (689,003 | ) | (7,837,687 | ) |
Total | (5,327,189 | ) | (1,389,934 | ) | (6,717,123 | ) |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
One World Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
Basis of consolidation |
The consolidated group financial statements consist of the financial statements of the parent company One World Holdings Limited together with all entities controlled by the parent company its subsidiaries. All financial statements are made up to 31 December 2022. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
Turnover |
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Goodwill on consolidation |
Goodwill in the group arose in 2019 upon acquisition of two subsidiaries, Viva Xpress Logistics (UK) Limited and Viva Transport Services (UK) Limited, and in 2021 upon the acquisition of a further subidiary Post 'N' Packages Limited . Goodwill is amortised over 5 years on a straight line basis. |
Computer software |
Computer software consists of the costs incurred in establishing the intangible assets. The cost is amortised over a 10 year period. Costs directly attributable to the development of computer software are capitalised as intangible assets only when technical feasibility of the project is demonstrated, the company has an intention and ability to complete and use the software, and the costs can be measured reliably. Such costs include purchases of material and services. Research costs are recognised as an expense when incurred. |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Freehold property | - |
Long leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Fixed assets are measured at cost less accumulated depreciation. Included in freehold property is land which is not depreciated. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other receivables 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. |
Classification of financial liabilities |
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. |
Basic financial liabilities |
Basic financial liabilities, include trade and other payables, are initially recognised at transaction prices, 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 payables 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 they are not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
The financial statements have been prepared on the going concern basis not withstanding net current liabilities of £4,474,536 (2022: £3,522,302) as the director has a reasonable expectation that the group has adequate resources to continue in operational existence. The validity of this assumption depends on the continued support from the director and creditors. |
If the group were unable to continue in existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet values of assets to their recoverable amounts, to reclassify fixed assets as current assets and to provide for further liabilities which might arise. |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both the current and future periods. |
Critical judgements |
In the director's view there are no significant judgements or estimates made. |
3. | EMPLOYEES AND DIRECTORS |
31.12.23 | 31.12.22 |
£ | £ |
Wages and salaries | 2,424,398 | 2,376,789 |
Social security costs | 23,144 | 27,929 |
Other pension costs | 5,303 | 9,850 |
2,452,845 | 2,414,568 |
The average number of employees during the year was as follows: |
31.12.23 | 31.12.22 |
Administrative and finance | 30 | 25 |
Operations | 47 | 55 |
31.12.23 | 31.12.22 |
£ | £ |
Director's remuneration | 185,654 | 222,500 |
4. | OPERATING LOSS |
The operating loss is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets | 650,173 | 345,211 |
Profit on disposal of fixed assets | (9,944 | ) | - |
Goodwill amortisation | 223,110 | 223,110 |
Computer software amortisation | 386,741 | 387,391 |
Auditors' remuneration | 47,005 | 14,278 |
Foreign exchange differences | 12,797 | 81,509 |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
5. | EXCEPTIONAL ITEMS |
31.12.23 | 31.12.22 |
£ | £ |
Exceptional items | - | (752,794 | ) |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.12.23 | 31.12.22 |
£ | £ |
Loan interest | 515,379 | 247,889 |
7. | TAXATION |
Analysis of the tax (credit)/charge |
The tax (credit)/charge on the loss for the year was as follows: |
31.12.23 | 31.12.22 |
£ | £ |
Current tax: |
UK corporation tax | (83,217 | ) | (39,798 | ) |
Deferred tax | (27,879 | ) | 426,172 |
Tax on loss | (111,096 | ) | 386,374 |
Reconciliation of total tax (credit)/charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
31.12.23 | 31.12.22 |
£ | £ |
Loss before tax | (467,122 | ) | (1,094,788 | ) |
Loss multiplied by the standard rate of corporation tax in the UK of 25 % (2022 - 19 %) |
(116,781 |
) |
(208,010 |
) |
Effects of: |
Expenses not deductible for tax purposes | 4,149 | 175,508 |
Income not taxable for tax purposes | (43,785 | ) | - |
Capital allowances in excess of depreciation | - | (408,892 | ) |
Depreciation in excess of capital allowances | 124,067 | - |
Utilisation of tax losses | 41,938 | 441,394 |
Adjustments to tax charge in respect of previous periods | (9,589 | ) | - |
Deferred tax | (27,878 | ) | 426,172 |
Tax relief in respect of prior periods | (83,217 | ) | (39,798 | ) |
Total tax (credit)/charge | (111,096 | ) | 386,374 |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
8. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
9. | INTANGIBLE FIXED ASSETS |
Group |
Computer |
Goodwill | software | Totals |
£ | £ | £ |
COST |
At 1 January 2023 | 1,115,548 | 4,171,743 | 5,287,291 |
Disposals | (626,624 | ) | - | (626,624 | ) |
At 31 December 2023 | 488,924 | 4,171,743 | 4,660,667 |
AMORTISATION |
At 1 January 2023 | 787,368 | 1,676,472 | 2,463,840 |
Amortisation for year | 223,110 | 386,741 | 609,851 |
Eliminated on disposal | (626,624 | ) | - | (626,624 | ) |
At 31 December 2023 | 383,854 | 2,063,213 | 2,447,067 |
NET BOOK VALUE |
At 31 December 2023 | 105,070 | 2,108,530 | 2,213,600 |
At 31 December 2022 | 328,180 | 2,495,271 | 2,823,451 |
10. | TANGIBLE FIXED ASSETS |
Group |
Freehold | Short | Long | Improvements |
property | leasehold | leasehold | to property |
£ | £ | £ | £ |
COST |
At 1 January 2023 | 6,504,312 | 2,853 | 3,274,240 | 315,996 |
Additions | 1,892,352 | - | - | 380,035 |
At 31 December 2023 | 8,396,664 | 2,853 | 3,274,240 | 696,031 |
DEPRECIATION |
At 1 January 2023 | 158,405 | 2,853 | 163,710 | 94,140 |
Charge for year | 79,236 | - | 32,743 | 102,983 |
At 31 December 2023 | 237,641 | 2,853 | 196,453 | 197,123 |
NET BOOK VALUE |
At 31 December 2023 | 8,159,023 | - | 3,077,787 | 498,908 |
At 31 December 2022 | 6,345,907 | - | 3,110,530 | 221,856 |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
10. | TANGIBLE FIXED ASSETS - continued |
Group |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 | 4,319,361 | 137,965 | 235,950 | 334,213 | 15,124,890 |
Additions | 13,739 | 14,405 | 97,515 | - | 2,398,046 |
At 31 December 2023 | 4,333,100 | 152,370 | 333,465 | 334,213 | 17,522,936 |
DEPRECIATION |
At 1 January 2023 | 1,850,290 | 47,668 | 137,331 | 225,139 | 2,679,536 |
Charge for year | 355,844 | 24,487 | 28,121 | 26,759 | 650,173 |
At 31 December 2023 | 2,206,134 | 72,155 | 165,452 | 251,898 | 3,329,709 |
NET BOOK VALUE |
At 31 December 2023 | 2,126,966 | 80,215 | 168,013 | 82,315 | 14,193,227 |
At 31 December 2022 | 2,469,071 | 90,297 | 98,619 | 109,074 | 12,445,354 |
11. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
11. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
One World Group Services Limited * |
Registered office: One World House, Pump Lane, Hayes, Middlesex, UB3 3NB, UK Registered number: 09452898 |
Nature of business: Investment in subsidiaries |
% |
Class of shares: | holding |
Ordinary | 100.00 |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves | (412,403 | ) | (287,057 | ) |
Loss for the year | (125,346 | ) | (386,101 | ) |
One World Acquisitions Ltd * |
Registered office: One World House, Pump Lane, Hayes, Middlesex, UB3 3NB, UK Registered number: 10977853 |
Nature of business: Investment in subsidiaries |
% |
Class of shares: | holding |
Ordinary | 100.00 |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves | - | (4,435 | ) |
Loss for the year | - | (780 | ) |
On 16th January 2023, owenership of Viva Transport Services Ltd was transferred from One World Acquisitions Ltd to a fellow subsidiary company within the group - One World Group Services Ltd. |
On the same date ownership of One World Acquisitions Ltd was transferred from One World Holdings Limited to Atul Bhakta. |
One World Solutions (UK) Ltd |
Registered office: One World House, Pump Lane, Hayes, Middlesex, UB3 3NB, UK Registered number: 09354231 |
Nature of business: Software development |
% |
Class of shares: | holding |
Ordinary | 100.00 |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves | (323,887 | ) | (297,314 | ) |
Loss for the year | (26,573 | ) | (63,915 | ) |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
11. | FIXED ASSET INVESTMENTS - continued |
One World Commercial Real Estate Ltd |
Registered office: One World House, Pump Lane, Hayes, Middlesex, UB3 3NB, UK Registered number: 10978120 |
Nature of business: Investment and property holding |
% |
Class of shares: | holding |
Ordinary | 100.00 |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves | 4,356,536 | 4,223,959 |
Profit for the year | 132,577 | 337,731 |
Brands 2 You Limited * |
Registered office: One World House, Pump Lane, Hayes, Middlesex, UB3 3NB, UK Registered number: 09612418 |
Nature of business: Retail and sale of goods |
% |
Class of shares: | holding |
Ordinary | 100.00 |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves | - | 173,540 |
Loss for the year | - | (33,257 | ) |
On 16th January 2023, there was a reorganisation of the group whereby ownership of Brands 2 You Limited was transferred to the director. |
* |
All outstanding liabilities of these undertakings as at 31 December 2023 have been provided with a parent company guarantee under section 479C of the Companies Act 2006. Their individual financial statements for the year ended 31 December 2023 were therefore entitled to exemption from audit under section 479A of the Companies Act 2006.This will also apply to the following subsidiaries of the above; |
Post 'N' Packages Limited |
- Registered number 06693460 |
- Nature of business; licensed carrier |
- Registered office; One World House, Pump Lane, Hayes, Middlesex, UB3 3NB, UK |
Viva Xpress Logistics (UK) Limited |
- Registered number 05318068 |
- Nature of business; transport and logistics services |
- Registered office; One World House, Pump Lane, Hayes, Middlesex, UB3 3NB, UK |
Viva Transport Services (UK) Limited |
- Registered number 05370141 |
- Nature of business; investment in subsidiaries |
- Registered office; One World House, Pump Lane, Hayes, Middlesex, UB3 3NB, UK |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.23 | 31.12.22 | 31.12.23 | 31.12.22 |
£ | £ | £ | £ |
Trade debtors | 1,936,379 | 1,743,524 |
Related party | 1,001 | 1,101 |
Other debtors | 391,421 | 487,385 | - | - |
VAT | 170,652 | 194,900 |
Called up share capital not paid | 10,000 | 10,000 |
Prepayments and accrued income | 153,865 | 142,268 |
2,663,318 | 2,579,178 |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.23 | 31.12.22 | 31.12.23 | 31.12.22 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 15) | 333,304 | 217,994 |
Trade creditors | 3,074,413 | 2,818,063 |
Tax | 588 | - |
Social security and other taxes | 62,796 | 167,181 |
Other creditors | 163,393 | 202,369 |
Related party | 2,120,179 | 1,707,783 | 4,000 | 4,000 |
Customer deposits | 11,667 | 37,500 | - | - |
Directors' current accounts | 2,063,462 | 2,315,577 | 360 | 360 |
Accrued expenses | 428,616 | 456,508 |
8,258,418 | 7,922,975 |
14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans (see note 15) | 6,376,229 | 5,646,060 |
Other loans (see note 15) | 1,128,154 | 1,284,630 |
7,504,383 | 6,930,690 |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
15. | LOANS |
An analysis of the maturity of loans is given below: |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Amounts falling due within one year or on | demand: |
Bank loans | 333,304 | 217,994 |
Amounts falling due between one and two | years: |
Bank loans - 1-2 years | 43,061 | 3,191,432 |
Amounts falling due between two and five | years: |
Bank loans - 2-5 years | 2,746,208 | 189,851 |
Other loans - 2-5 years | 1,128,154 | 1,284,630 |
3,874,362 | 1,474,481 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 3,586,960 | 2,264,777 |
Creditors include bank loans which are secured by fixed and floating charges over the groups' assets as outlined in the notes to the accounts. |
16. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Non-cancellable |
operating leases |
31.12.23 | 31.12.22 |
£ | £ |
Within one year | 802,871 | 802,871 |
Between one and five years | 2,968,916 | 3,671,786 |
In more than five years | 20,000 | 120,000 |
3,791,787 | 4,594,657 |
17. | PROVISIONS FOR LIABILITIES |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Deferred tax | 421,058 | 448,937 |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
17. | PROVISIONS FOR LIABILITIES - continued |
Group |
Deferred tax |
£ |
Balance at 1 January 2023 | 448,937 |
Provided during year | 6,277 |
Credit to Income Statement during year | (34,156 | ) |
Balance at 31 December 2023 | 421,058 |
18. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Share capital 1 | £0.001 | 120,000 | 120,000 |
During the year 120,000 Ordinary shares of £1 each were converted to 120,000,000 Ordinary shares of £0.001 each |
19. | RESERVES |
Group |
Retained |
earnings |
£ |
At 1 January 2023 | 4,098,519 |
Deficit for the year | (269,947 | ) |
At 31 December 2023 | 3,828,572 |
20. | NON-CONTROLLING INTERESTS |
Non-controlling interests represent 24% holding in Viva Transport Services (UK) Limited and Viva Xpress Logistics (UK) Limited (which is 100% owned by Viva Transport Services (UK) Limited), as well as 24% holding in Post 'N' Packages Limited. |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
21. | RELATED PARTY DISCLOSURES |
The following companies are related parties by virture of common control: |
One World Express Europe GmbH |
Ops Open Postal Systems GmbH |
GDIH First Response & Security Solutions Ltd |
One World Express Limited (Hong Kong entity) |
One World Express Inc. Limited |
Post 'N' Packages Limited |
Viva Transport Services (UK) Limited |
Viva Xpress Logistics (UK) Limited |
Viva Transport Group |
Viva Xpress Logistics (BE) |
One World Acquisitions Limited |
Brands 2 You Limited |
The group has taken advantage of the exemption available in FRS 102 Section 33.1A "Related party disclosures" whereby it has not disclosed transactions with any wholly owned subsidiary undertakings. |
Amounts owing from the above related parties are as follows; GDIH First Response & Security Solutions Ltd of £nil (2022: £1,100), One World Acquisitions Limited £1,000 (2022: nil) . Balances owing to One World Express Limited (Hong Kong entity) total £1,582,178 (2022:£1,707,782 ), and Brands 2 You Limited of £538,000 (2022: £nil). These companies are related parties by virtue of common control. |
During the year sales totalling £1,569,333 (2022: £128,378) and purchases of £83,177 (2022: £139,098) were made to and from companies under common control. At the year end amounts receivable from companies under common control totalled £514,179 (2022: £110,133) and amounts payable to companies under common control totalled £368,111 (2022: £465,233). |
Consultancy fees payable to the director and the director of a subsidiary company in the year totalled £60,000 (2022: £69,185). |
Included within creditors are amounts owing to the director of £2,063,462 (2022 :£2,315,577). |
22. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is A S Bhakta. |
One World Holdings Limited (Registered number: 09418333) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
23. | DEBENTURES AND CHARGES |
The following debentures and charges are in place for companies in the group: |
Yorkshire Building Society have charges dated 01/03/22, 03/05/22 and 20/03/2023 over the properties at 5 & 9 David Road, Colnbrook, SL3 0DB, and 1A-1B Carlton Road, Coventry, CV6 7FL. |
Barclays Bank plc has a deed of charge dated 05/11/2007 over the credit balances on the USD business reserve account as well as a fixed and floating charge dated 25/06/2004 over the above Company and all its property and assets present and future. It also has a fixed and floating charge dated 12/04/19 over accounts, and a fixed and floating charge dated 25/04/2019 over the property of the above company. |
Barclays also has a personal guarantee (2014) from Atul Bhakta for the sum of £75,000. |
Lloyds Bank PLC have a fixed and floating charge dated 06/07/2018 over all the property and undertaking of the company. |
Lloyds Bank PLC have a fixed and floating charge dated 06/07/2018 over Unit 4 Amberley Way, Hounslow, Middlesex, One World house, Pump lane, Hayes UB3 3NB , Phase 1, Plot D, Woodgate business park, Clapgate Lane, Bartley Green, Birmingham, goodwill and intellectual property rights of the Company. |