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Company No: 03007622 (England and Wales)

# M O HOLDINGS LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

M O HOLDINGS LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

M O HOLDINGS LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 January 2025
M O HOLDINGS LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 3,127 |  | 0
Tangible assets | 4 | 40,710 |  | 61,412
Investment property | 5 | 560,000 |  | 560,000
Investments | 6 | 46,643 |  | 44,904
|  | 650,480 |  | 666,316
Current assets |  |  |  |
Debtors |  |  |  |
- due within one year | 7 | 680,652 |  | 743,553
- due after more than one year | 7 | 0 |  | 4,599
Cash at bank and in hand |  | 27,320 |  | 6,626
|  | 707,972 |  | 754,778
Creditors: amounts falling due within one year | 8 | ( 1,065,594) |  | ( 1,076,540)
Net current liabilities |  | (357,622) |  | (321,762)
Total assets less current liabilities |  | 292,858 |  | 344,554
Provision for liabilities | 9 | ( 9,086) |  | ( 14,707)
Net assets |  | 283,772 |  | 329,847
Capital and reserves |  |  |  |
Called-up share capital | 10 | 40,000 |  | 40,000
Other reserves |  | 242,400 |  | 241,096
Profit and loss account |  | 1,372 |  | 48,751
Total shareholders' funds |  | 283,772 |  | 329,847

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of M O Holdings Limited (registered number: 03007622) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M Ogden Director |

08 October 2025

M O HOLDINGS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
M O HOLDINGS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

M O Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software | 4 years straight line

###### Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 4 years straight line
Fixtures and fittings | 4 years straight line
Computer equipment | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

##### Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 17 |  | 15

#### 3. Intangible assets

| Computer software |  | Total
| £ |  | £
Cost |  |  |
At 01 February 2024 | 0 |  | 0
Additions | 3,950 |  | 3,950
At 31 January 2025 | 3,950 |  | 3,950
Accumulated amortisation |  |  |
At 01 February 2024 | 0 |  | 0
Charge for the financial year | 823 |  | 823
At 31 January 2025 | 823 |  | 823
Net book value |  |  |
At 31 January 2025 | 3,127 |  | 3,127
At 31 January 2024 | 0 |  | 0

#### 4. Tangible assets

| Leasehold improve- ments |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 February 2024 | 61,649 |  | 2,043 |  | 211,139 |  | 274,831
Disposals | 0 |  | 0 |  | ( 52,705) |  | ( 52,705)
At 31 January 2025 | 61,649 |  | 2,043 |  | 158,434 |  | 222,126
Accumulated depreciation |  |  |  |  |  |  |
At 01 February 2024 | 59,917 |  | 2,043 |  | 151,459 |  | 213,419
Charge for the financial year | 1,620 |  | 0 |  | 19,082 |  | 20,702
Disposals | 0 |  | 0 |  | ( 52,705) |  | ( 52,705)
At 31 January 2025 | 61,537 |  | 2,043 |  | 117,836 |  | 181,416
Net book value |  |  |  |  |  |  |
At 31 January 2025 | 112 |  | 0 |  | 40,598 |  | 40,710
At 31 January 2024 | 1,732 |  | 0 |  | 59,680 |  | 61,412

#### 5. Investment property

| Investment property
| £
Valuation |
As at 01 February 2024 | 560,000
As at 31 January 2025 | 560,000

Valuation

A full market valuation of investment property was completed by directors at the statement of financial position date.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 261,148 |  | 261,148

#### 6. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 February 2024 | 40,000
At 31 January 2025 | 40,000
Carrying value at 31 January 2025 | 40,000
Carrying value at 31 January 2024 | 40,000

| Listed investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 February 2024 | 4,904 |  | 4,904
Movement in fair value | 1,739 |  | 1,739
At 31 January 2025 | 6,643 |  | 6,643
Carrying value at 31 January 2025 | 6,643 |  | 6,643
Carrying value at 31 January 2024 | 4,904 |  | 4,904

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Trade debtors | 9,594 |  | 15,474
Amounts owed by group undertakings | 121,169 |  | 36,698
Prepayments and accrued income | 33,856 |  | 33,982
Other debtors | 516,033 |  | 657,399
| 680,652 |  | 743,553
Debtors: amounts falling due after more than one year |  |  |
Other debtors | 0 |  | 4,599

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 11,111
Trade creditors | 39,174 |  | 84,140
Amounts owed to directors | 2,801 |  | 0
Accruals and deferred income | 46,721 |  | 69,633
Taxation and social security | 76,845 |  | 85,964
Other creditors | 900,053 |  | 825,692
| 1,065,594 |  | 1,076,540

#### 9. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 14,707) |  | ( 4,668)
Credited/(charged) to the Profit and Loss Account | 5,621 |  | ( 10,039)
At the end of financial year | ( 9,086) |  | ( 14,707)

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Accelerated capital allowances | ( 10,178) |  | ( 15,354)
Other timing differences | 154 |  | 144
Fair value movement | 938 |  | 503
| ( 9,086) |  | ( 14,707)

#### 10. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
40,000 Ordinary shares of £ 1.00 each | 40,000 |  | 40,000

#### 11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 20,074 |  | 11,959
between one and five years | 19,324 |  | 31,283
| 39,398 |  | 43,243

Other financial commitments

**Debenture**
On 13 May 2015, the company together with Abingdon Freight Forwarding Agency Limited, Chain Supply Managament and Logistics Limited and Sandrair International Limited (each "a Chargor"), entered into a debenture in favour of Barclays Bank Plc ("the Bank") to secure all present and future liabilities and obligations of each chargor to the Bank, whether actual or contingent and whether owed jointly or severally or in any other capacity. The assets of the Chargors in respect of which they granted to the Bank a fixed and floating charge to secure their respective liabilities and obligations.
**VAT**
The company is included in a group registration for VAT with Sandrair International Limited, its subsidiary. The members of the VAT group are jointly and severally liable for any amounts due and at 31 January 2025. There is no contingent liability for the current year on the basis that the subsidiary's accounts are showing a VAT debtor balance.

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

| 2025 |  | 2024
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 1,645 |  | 1,527

#### 12. Related party transactions

Transactions with the entity's directors

Included in creditors is a balance of £2,801 owed to a director (2024: £76,345 included in other debtors owed by the director) . This balance is unsecured, and interest is charged at HMRC's approved rate with no fixed repayment terms. Within the year there has been additional loans to the director of £235,219 and repayments were made of £317,369.

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Included within other creditors is a balance due to companies with common directors. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms. | 898,408 |  | 824,165
Included within amounts owed by group undertakings is a balance owed by subsidiaries. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms. | 121,169 |  | 36,698
Included within other debtors is a balance due from companies with a common director. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms. | 492,346 |  | 561,666