REGISTERED NUMBER: 08593683 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

WORLD LOGISTICS MEDIA (UK) LIMITED

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

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

The directors present their strategic report for the year ended 31st December 2024.

REVIEW OF BUSINESS

World Logistics Media's primary activity is publishing the Voice of the Independent, the most comprehensive worldwide circulation of any logistics industry periodical. It is the premier information and marketing source for all independent logistics providers and shippers, distributed to over 30,000 freight-forwarding professionals.

PRINCIPAL RISKS AND UNCERTAINTIES

There are no immediate risks to WLM. However, WLM is largely dependent on its parent company, which has operated successfully for over 20 years. There is no significant risks to the parent company.

DEVELOPMENT AND PERFORMANCE

Supported by it's parent company, WCA World Inc, WLM's performance is solid and stable. As WCA continues to grow, so does WLM's distribution reach.

FINANCIAL KEY PERFORMANCE INDICATORS

Primarily the distribution totals, both online and offline, driven by the WCA membership, which in turn drives advertising revenue.

ON BEHALF OF THE BOARD:

Mr D J March - Director

18th September 2025

The directors present their report with the financial statements of the company for the year ended 31st December 2024.

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 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2024 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

18th September 2025

Opinion

We have audited the financial statements of World Logistics Media (UK) Limited (the 'company') for the year ended 31st December 2024 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 2024 and of its 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 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.

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.

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

18th September 2025

REVENUE

253,672

288,157

Cost of sales

169,252

171,554

GROSS PROFIT

84,420

116,603

Administrative expenses

121,909

71,833

OPERATING (LOSS)/PROFIT and

(LOSS)/PROFIT BEFORE TAXATION

(37,489

)

44,770

Tax on (loss)/profit

5

-

-

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(37,489

)

44,770

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(37,489

)

44,770

CURRENT ASSETS

Debtors

7

18,567

11,822

Cash at bank and in hand

31,501

43,218

50,068

55,040

CREDITORS

Amounts falling due within one year

8

709,224

676,707

NET CURRENT LIABILITIES

(659,156

)

(621,667

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(659,156

)

(621,667

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

(659,157

)

(621,668

)

SHAREHOLDERS' FUNDS

(659,156

)

(621,667

)

The financial statements were approved by the Board of Directors and authorised for issue on 18th September 2025 and were signed on its behalf by:

Mr D J March - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st January 2023

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

)

Changes in equity

Total comprehensive income

-

(37,489

)

(37,489

)

Balance at 31st December 2024

1

(659,157

)

(659,156

)

Cash flows from operating activities

Cash generated from operations

1

(35,355

)

36,327

Net cash from operating activities

(35,355

)

36,327

Cash flows from financing activities

Group loans advances

23,638

-

Group loan repayments

-

(40,809

)

Net cash from financing activities

23,638

(40,809

)

Decrease in cash and cash equivalents

(11,717

)

(4,482

)

Cash and cash equivalents at beginning of year

2

43,218

47,700

Cash and cash equivalents at end of year

2

31,501

43,218

1.	RECONCILIATION OF (LOSS)/PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

(Loss)/profit for the financial year

(37,489

)

44,770

(Increase)/decrease in trade and other debtors

(1,117

)

2,841

Increase/(decrease) in trade and other creditors

3,251

(11,284

)

Cash generated from operations

(35,355

)

36,327

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 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

31,501

43,218

Year ended 31st December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

43,218

47,700

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

43,218

(11,717

)

31,501

43,218

(11,717

)

31,501

Total

43,218

(11,717

)

31,501

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 £659,156. The directors consider this to be appropriate because the largest creditor is WCA Limited, the company's immediate Parent to whom the company owes £692,594. 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.

Key sources of estimation, uncertainty & significant accounting judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect reported amounts in the financial statements. Management bases its judgements, estimates and assumptions on historical experience and on other factors, including expectations of future events, which management believes to be reasonable under the circumstances. Actual results may differ from these estimates.

Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenues, and expenses. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision only affects that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

60,018

57,390

Social security costs

2,760

3,001

Other pension costs

661

661

63,439

61,052

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

31.12.24

31.12.23

Directors

1

1

Other

3

3

4

4

All of the directors and the majority of the employees, other than 50% of one employee, is remunerated by the parent company.The monetary effect of the payroll and pension costs are accounted for in the ultimate parent company.

31.12.24

31.12.23

£

£

Directors' remuneration

-

-

4.	OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Auditors' remuneration

6,000

5,700

Foreign exchange differences

9,962

(38,155

)

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31st December 2024 nor for the year ended 31st December 2023.

6.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

COST

At 1st January 2024

and 31st December 2024

1,427

DEPRECIATION

At 1st January 2024

and 31st December 2024

1,427

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

6,381

4,333

Amounts owed by group undertakings

7,436

1,808

VAT

4,750

5,681

18,567

11,822

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

692,594

663,328

Other creditors

2,749

2,572

Accrued expenses

13,881

10,807

709,224

676,707

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1st January 2024

(621,668

)

Deficit for the year

(37,489

)

At 31st December 2024

(659,157

)

11.	RELATED PARTY DISCLOSURES

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

31.12.24

31.12.23

£

£

WCA Limited:

Relationship: Parent

Value of goods and services recharged

161,227

153,823

Value of goods and services sold

152,094

141,121

Net loans after repayment

29,266

(41,729

)

Creditor balance at period end

692,594

663,327

Lognet Global Limited:

Relationship: Fellow subsidiary

Value of goods and services purchased

-

-

Value of goods and services sold

2,871

2,356

Debtor balance at period end

3,378

-

IFC8 LLC:

Relationship: Fellow subsidiary

Value of goods and services purchased

-

-

Value of goods and services sold

-

-

Debtor balance at period end

480

473

Global Affinity Alliance Limited:

Relationship: Fellow subsidiary

Value of goods and services purchased

-

-

Value of goods and services sold

-

-

Debtor balance at period end

2,222

-

EGLN (Hong Kong):

Relationship: Fellow subsidiary

Value of goods and services purchased

-

-

Value of goods and services sold

2,871

3,278

Debtor balance at period end

-

-

Freightsnap LLC:

Relationship: Fellow subsidiary

Value of goods and services purchased

-

-

Value of goods and services sold

-

-

Debtor balance at period end

1,356

1,335

All World Shipping USA:

Relationship: Fellow subsidiary

Value of goods and services purchased

-

-

Value of goods and services sold

2,392

7,067

Debtor balance at period end

-

-

World Insurance Services Ltd:

Relationship: Fellow subsidiary

Value of goods and services purchased

-

-

Value of goods and services sold

999

-

Debtor balance at period end

-

-

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

12.	ULTIMATE CONTROLLING PARTY