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REGISTERED NUMBER: 08593683 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

WORLD LOGISTICS MEDIA (UK) LIMITED

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


WORLD LOGISTICS MEDIA (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr D J March
Mr A G A Robins
Mr D L Yokeum





REGISTERED OFFICE: Talon House
6 Blackthorne Road
Colnbrook
Berkshire
SL3 0AL





REGISTERED NUMBER: 08593683 (England and Wales)





AUDITORS: Richardson Jones
Registered Auditors &
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023

The directors present their strategic report for the year ended 31st December 2023.


A full strategic report has been included within the group final financial statements prepared by the company's ultimate parent, WCA Limited, a company registered in Hong Kong. These can be obtained by applying to the company's registered office at Talon House, 6 Blackthorn Road, Colnbrook, Berkshire, SL3 0AL.

Therefore, the directors do not consider it necessary to provide a strategic report in these financial statements.

ON BEHALF OF THE BOARD:





Mr D J March - Director


25th September 2024

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2023

The directors present their report with the financial statements of the company for the year ended 31st December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of publishing consumer and business journals for the logistics industry.

DIVIDENDS
No dividends will be distributed for the year ended 31st December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

Mr D J March
Mr A G A Robins
Mr D L Yokeum

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company 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 directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director 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 company's auditors are aware of that information.

AUDITORS
The auditors, Richardson Jones, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr D J March - Director


25th September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WORLD LOGISTICS MEDIA (UK) LIMITED

Opinion
We have audited the financial statements of World Logistics Media (UK) Limited (the 'company') for the year ended 31st December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31st December 2023 and of its profit 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 company 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.

Conclusions relating to going concern
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.

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 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WORLD LOGISTICS MEDIA (UK) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are 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 directors determine 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 directors are responsible for assessing the 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to World Logistics Media (UK) Limited and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our procedures included:

- agreeing the financial statement disclosures to underlying supporting documentation
- enquiries with management
- understanding of management's internal controls designed to prevent and detect irregularities

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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
WORLD LOGISTICS MEDIA (UK) 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.




David Porter (Senior Statutory Auditor)
for and on behalf of Richardson Jones
Registered Auditors &
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

25th September 2024

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31ST DECEMBER 2023

31.12.23 31.12.22
Notes £ £

REVENUE 288,157 245,799

Cost of sales 171,554 212,194
GROSS PROFIT 116,603 33,605

Administrative expenses 71,833 192,724
OPERATING PROFIT/(LOSS) and
PROFIT/(LOSS) BEFORE TAXATION 44,770 (159,119 )

Tax on profit/(loss) 5 - -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

44,770

(159,119

)

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

44,770

(159,119

)

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £ £
CURRENT ASSETS
Debtors 7 11,822 15,580
Cash at bank and in hand 43,218 47,700
55,040 63,280
CREDITORS
Amounts falling due within one year 8 676,707 729,717
NET CURRENT LIABILITIES (621,667 ) (666,437 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(621,667

)

(666,437

)

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 (621,668 ) (666,438 )
SHAREHOLDERS' FUNDS (621,667 ) (666,437 )

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2024 and were signed on its behalf by:





Mr D J March - Director


WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1st January 2022 1 (507,319 ) (507,318 )

Changes in equity
Total comprehensive income - (159,119 ) (159,119 )
Balance at 31st December 2022 1 (666,438 ) (666,437 )

Changes in equity
Total comprehensive income - 44,770 44,770
Balance at 31st December 2023 1 (621,668 ) (621,667 )

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023

31.12.23 31.12.22
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 36,327 (135,373 )
Net cash from operating activities 36,327 (135,373 )

Cash flows from financing activities
Group loans advances - 148,346
Group loan repayments (40,809 ) 340
Net cash from financing activities (40,809 ) 148,686

(Decrease)/increase in cash and cash equivalents (4,482 ) 13,313
Cash and cash equivalents at beginning
of year

2

47,700

34,387

Cash and cash equivalents at end of
year

2

43,218

47,700

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. RECONCILIATION OF PROFIT/(LOSS) FOR THE FINANCIAL YEAR TO CASH GENERATED FROM
OPERATIONS
31.12.23 31.12.22
£ £
Profit/(loss) for the financial year 44,770 (159,119 )
Depreciation charges - 407
44,770 (158,712 )
Decrease in trade and other debtors 2,841 7,326
(Decrease)/increase in trade and other creditors (11,284 ) 16,013
Cash generated from operations 36,327 (135,373 )

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 31st December 2023
31.12.23 1.1.23
£ £
Cash and cash equivalents 43,218 47,700
Year ended 31st December 2022
31.12.22 1.1.22
£ £
Cash and cash equivalents 47,700 34,387


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£ £ £
Net cash
Cash at bank and in hand 47,700 (4,482 ) 43,218
47,700 (4,482 ) 43,218
Total 47,700 (4,482 ) 43,218

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

World Logistics Media (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis despite the balance sheet showing net liabilities of £621,667. The directors consider this to be appropriate because the largest creditor is WCA Limited, the company's immediate Parent to whom the company owes £663,328. WCA Limited have confirmed that it will continue to support the company for at least the next 12 months.

Turnover
Turnover represents net invoiced sales of advertising space and other services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£ £
Wages and salaries 57,390 67,906
Social security costs 3,001 6,051
Other pension costs 661 645
61,052 74,602

The average number of employees during the year was as follows:
31.12.23 31.12.22

Directors 1 1
Other 3 3
4 4

31.12.23 31.12.22
£ £
Directors' remuneration - -

4. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging/(crediting):

31.12.23 31.12.22
£ £
Depreciation - owned assets - 407
Auditors' remuneration 5,700 5,450
Foreign exchange differences (38,155 ) 69,179

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31st December 2023 nor for the year ended 31st December 2022.

6. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£
COST
At 1st January 2023
and 31st December 2023 1,427
DEPRECIATION
At 1st January 2023
and 31st December 2023 1,427
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 4,333 9,032
Amounts owed by group undertakings 1,808 2,725
VAT 5,681 3,823
11,822 15,580

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Amounts owed to group undertakings 663,328 705,054
Other creditors 2,572 2,702
Accrued expenses 10,807 21,961
676,707 729,717

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
1 Ordinary £1 1 1

10. RESERVES
Retained
earnings
£

At 1st January 2023 (666,438 )
Profit for the year 44,770
At 31st December 2023 (621,668 )

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

11. RELATED PARTY DISCLOSURES

During the period the company was involved in transactions with related parties, as follows:

31.12.23 31.12.22
£ £
WCA Limited:
Relationship: Parent

Value of goods and services recharged 153,823 151,605
Value of goods and services sold 141,121 145,652
Net loans after repayment (41,729) 148,348
Creditor balance at period end 663,327 705,056
Lognet Global Limited:
Relationship: Fellow subsidiary

Value of goods and services purchased - -
Value of goods and services sold 2,356 2,489
Debtor balance at period end - 622
IFC8 LLC:
Relationship: Fellow subsidiary

Value of goods and services purchased - -
Value of goods and services sold - -
Debtor balance at period end 473 -
Global Affinity Alliance Limited:
Relationship: Fellow subsidiary

Value of goods and services purchased - -
Value of goods and services sold - 2,112
Debtor balance at period end - -
EGLN (Hong Kong):
Relationship: Fellow subsidiary

Value of goods and services purchased - -
Value of goods and services sold 3,278 3,464
Debtor balance at period end - 693
Freightsnap LLC:
Relationship: Fellow subsidiary

Value of goods and services purchased - -
Value of goods and services sold - -
Debtor balance at period end 1,335 1,410
All World Shipping USA:
Relationship: Fellow subsidiary

Value of goods and services purchased - -
Value of goods and services sold 7,067 -
Debtor balance at period end - -


The company's immediate and ultimate parent is WCA Limited, a company registered in Hong Kong.

WORLD LOGISTICS MEDIA (UK) LIMITED (REGISTERED NUMBER: 08593683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

12. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr D L Yokeum, a director, by virtue of his indirect control over the majority of the issued share capital of the company's ultimate parent company.