ACCOUNTS - Final Accounts preparation

Operating profit

The operating profit is stated after charging:

Consolidated Financial Statements

OCO Global Limited

For the year ended 31 March 2024

Registered number: NI045268


OCO Global Limited

Company Information

Directors	Gareth Hagan
	Mark O'Connell


Company secretary	William Fitzpatrick (resigned 2 June 2025)


Registered number	NI045268


Registered office	6 Citylink Business Park
	Belfast
	BT12 4HB


Independent auditor	Grant Thornton (NI) LLP
	Chartered Accountants & Statutory Auditors
	12 - 15 Donegall Square West
	Belfast
	BT1 6JH


Bankers	Bank of Ireland
	4-8 High Street
	Belfast
	BT1 2BA


Solicitors	Tughans LLP
	The Ewart
	3 Bedford Square
	Belfast
	BT2 7EP


OCO Global Limited

Contents

	Page
Group strategic report	1 - 2
Directors' report	3 - 5
Independent auditor's report	6 - 9
Consolidated statement of comprehensive income	10
Consolidated balance sheet	11 - 12
Company balance sheet	13 - 14
Consolidated statement of changes in equity	15
Company statement of changes in equity	16
Consolidated statement of cash flows	17
Consolidated analysis of net debt	18
Notes to the financial statements	19 - 40


OCO Global Limited

Group strategic report

For the year ended 31 March 2024

Introduction

The directors present their report and the audited financial statements of the Group for the year ended 31 March 2024.

Business review

The Group made a profit for the year after taxation amounting to £955,666 (2023: £1,749,609). The directors are satisfied with the performance during the year.

Principal risks and uncertainties

The directors consider that the principal risks and uncertainties faced by the Group are in the following categories:
Economic
The Group is exposed to the risk of foreign exchange losses, increased interest rates and or inflation having an adverse impact on served markets. All economic risks are closely monitored by the directors.
Competitor
The directors of the Group manage competition through close attention to market research, benchmarking with competition, and recruitment of highly skilled professional staff.
Currency risk
The Group is exposed to translation and transaction foreign exchange risk. The Group does not currently hedge foreign exchange exposures, but this policy is kept under review. The Group's overseas subsidiaries all have natural hedges in place as they sell services and incur costs in local currencies. As a result, the Group's exposure is in the main limited to its equity investment in overseas subsidiaries, and the translation of overseas earnings.
Financial
The Group prepares regular cash flow forecasts to review liquidity requirements, and has prepared detailed plans covering the next 12 months of trading. The plan is updated on a regular basis as and when new information becomes available. The directors have financial reporting procedures to manage credit, liquidity and other financial risk.

Financial key performance indicators

The key financial performance indicators of the business are Turnover, EBITDA and Employee numbers. The directors are satisfied with the result.

	2024	2023

Turnover	£19,500,750	£17,326,477
EBITDA	£1,763,216	£1,796,296
Employee Numbers	169	158

Page 1


OCO Global Limited

Group strategic report (continued)

For the year ended 31 March 2024

This report was approved by the board on 5 November 2025 and signed on its behalf.

................................................

Mark O'Connell

Director

Page 2


OCO Global Limited

Directors' report

For the year ended 31 March 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙state whether applicable UK 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' reports may differ from legislation in other jurisdictions.

Results and dividends

The profit for the year, after taxation, amounted to £955,666 (2023 - £1,749,609).

The directors recommended a dividend of £547,760 (2023: £837,487).

Directors

The directors who served during the year were:

Gareth Hagan

Mark O'Connell

Page 3


OCO Global Limited

Directors' report (continued)

For the year ended 31 March 2024

Future developments

The external commercial environment is expected to remain competitive during the 2025 financial year. The directors' acknowledge the challenges in respect of the external market, particularly in respect of cost increases and availability of resource, but are satisfied that there are sufficient measures in place to ensure that the Group continues to trade in a robust matter.

Going concern

At the time of approving the financial statements, and based on the comments within the strategic report, the directors have reasonable expectation that the Company has adequate resources to meet the ongoing costs to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The group meets its day to day working capital requirements through a combination of operating cash inflows and a bank overdraft facility. The group and the company's performance in the year ended 31 March 2024 and up to the date these finanical statements have been signed have been impacted by difficult trading conditions as detailed below.
Post year end the group and the company incurred an event of default under the current bank facilities, triggered by a breach of financial covenant, which gives Bank of Ireland the right to accelerate repayment and under FRS 102, this would mean the debt being shown as repayable on demand as the group would not be able to unconditionally defer payment. The group received a covenant waiver from their bankers for the covenant breach post year end.
In addition to considerations made above, the directors' have prepared a going concern assessment which includes the preparation of forecasts, modelling various sensitivities and outcomes for a period of 12 months from the date of these financial statements. These forecasts demonstrate that the group has sufficient headroom to meet their financial obligations as they fall due with the continued financial support of the shareholders. Accordingly, the directors' have concluded that the going concern basis is appropriate.

Branches outside the United Kingdom

The Group operates a number of branches outside of the United Kingdom which include Dubai, France, and United States. The Group also operate a number of subsidiaries outside the United Kingdom.

Matters covered in the Group strategic report

Under Schedule 7.1A of "Large and Medium-Sized Companies and Groups (Accounts and Reports) Regulations 2008", the Company has elected to disclose the following Directors report information in the Strategic report:

−Business review and future developments;

−Principal risks and uncertainties; and

−Key financial performance indicators.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.

Page 4


OCO Global Limited

Directors' report (continued)

For the year ended 31 March 2024

Post balance sheet events

Post year end, the company breached a financial covenant relating to its overdraft facility with Bank of Ireland. A covenant waiver has been provided.
In addition, during the 31 March 2026 year end, the company has undergone a restructuring exercise. The costs associated with this exercise are approximately £300,000.
No further post balance sheet events have occurred.

Auditor

The auditor, Grant Thornton (NI) LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 5 November 2025 and signed on its behalf.

................................................

Mark O'Connell

Director

Page 5

Independent auditor's report to the members of OCO Global Limited

Opinion

We have audited the financial statements of OCO Global Limited (the 'parent Company') and its subsidiaries (the 'Group'), which comprise the Consolidated Profit and loss account, the Consolidated and Company Balance sheet, the Consolidated Statement of cash flow, the Consolidated and Company Statement of changes in equity for the financial year ended 31 March 2024, and the related notes to the financial statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in the 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, OCO Global Limited's financial statements:

∙give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Group's and the Company as at 31 March 2024 and of the Group financial performance and cash flows for the financial year then ended; 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 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Group and Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. 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 Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from the date 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.

Page 6

Independent auditor's report to the members of OCO Global Limited (continued)

Other information

Other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon, including the Directors' report and the Strategic Report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the 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 in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Directors' report and the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements, and

∙the Directors' report and the Strategic Report 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 we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report and the Strategic Report.

We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Page 7

Independent auditor's report to the members of OCO Global Limited (continued)

Responsibilities of management and those charged with governance for the financial statements

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is 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, management is responsible for assessing the Group and 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 management either intend to liquidate the Group and Company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Group and Company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements

The objectives of an auditor 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 an Auditor's report that includes their 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.

A further description of an auditor's 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 auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

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

Based on our understanding of the Group and industry, we identified that the principal risks of non-compliance with laws and regulations related to Employment Law, Environmental Regulations, Health and Safety Laws and Data Protection Laws and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and applicable tax law. The Audit engagement partner considered the experience and expertise of the engagement team to ensure that the team had appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulation.We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.

Page 8

Independent auditor's report to the members of OCO Global Limited (continued)

Responsibilities of the auditor for the audit of the financial statements (continued)

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud (continued)

In response to these principal risks, our audit procedures included but were not limited to:

∙inquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;

∙inspection of the Group and Company’s regulatory and legal correspondence and review of minutes of the board of directors meetings during the year to corroborate inquiries made;

∙gaining an understanding of the internal controls established to mitigate risk related to fraud;

∙discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;

∙identifying and testing journal entries to address the risk of inappropriate journals and management override of controls

∙designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing

∙challenging assumptions and judgements made by management in their significant accounting estimates, including estimating the useful lives of depreciable assets, estimating an allowance for the impairment of trade and other debtors and valuation of work in progress.

∙review of the financial statement disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.

The purpose of our audit work and to whom we owe our responsibilities

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 an auditor’s report 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.

Louise Kelly FCA (Senior statutory auditor)

for and on behalf of

Grant Thornton (NI) LLP

Chartered Accountants

& Statutory Auditors

Belfast
5 November 2025

Page 9


OCO Global Limited

Consolidated statement of comprehensive income

For the year ended 31 March 2024


	2024	2023
Note	£	£


Turnover	4	19,500,750	17,326,477
Cost of sales		(14,300,393)	(11,899,213)
Gross profit		5,200,357	5,427,264
Administrative expenses		(3,893,151)	(3,730,347)
Operating profit	6	1,307,206	1,696,917
Interest payable and similar expenses	5	(85,432)	(29,293)
Profit before taxation		1,221,774	1,667,624
Tax on profit	10	(266,108)	81,985
Profit for the financial year		955,666	1,749,609


Currency translation differences	8,316	(5,583)
Other comprehensive income/(loss) for the year	8,316	(5,583)
Total comprehensive income for the year	963,982	1,744,026

Profit for the year attributable to:
Owners of the parent Company		955,666	1,749,609

Total comprehensive income for the year attributable to:
Owners of the parent Company		963,982	1,744,026

All amounts relate to continuing operations.

The notes on pages 19 to 40 form part of these financial statements.

Page 10


OCO Global Limited Registered number:NI045268

Consolidated balance sheet

As at 31 March 2024

		2024		2023
Note		£		£

Fixed assets
Intangible fixed assets	12		707,521		649,341
Tangible assets	11		1,102,548		1,111,325
Investments	13		40,434		40,434
			1,850,503		1,801,100
Current assets
Debtors: amounts falling due after more than one year	15	25,004		115,973
Debtors: amounts falling due within one year	15	6,920,926		6,216,953
Cash at bank and in hand	16	2,072,292		1,679,122
		9,018,222		8,012,048
Current liabilities
Creditors: amounts falling due within one year	17	(4,445,956)		(4,640,904)
Net current assets			4,572,266		3,371,144
Total assets less current liabilities			6,422,769		5,172,244
Creditors: amounts falling due after more than one year	18		(1,421,230)		(586,927)
Provisions for liabilities
Deferred tax	20	(17,408)		(17,408)
			(17,408)		(17,408)
Net assets			4,984,131		4,567,909

Capital and reserves
Called up share capital	21	244,240	244,240
Share premium account	22	75,050	75,050
Foreign exchange reserve	22	(17,754)	(26,070)
Profit and loss account	22	4,682,595	4,274,689
Shareholders' funds		4,984,131	4,567,909

Page 11


OCO Global Limited Registered number:NI045268

Consolidated balance sheet (continued)

As at 31 March 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 November 2025.

................................................

Mark O'Connell

Director

The notes on pages 19 to 40 form part of these financial statements.

Page 12


OCO Global Limited Registered number:NI045268

Company balance sheet

As at 31 March 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	11		1,080,013		1,092,304
Intangible assets	12		587,671		649,341
Investments	13		72,227		72,227
			1,739,911		1,813,872
Current assets
Debtors: amounts falling due after more than one year	15	-		98,573
Debtors: amounts falling due within one year	15	6,734,684		6,067,630
Cash at bank and in hand	16	1,455,404		1,002,369
		8,190,088		7,168,572
Current liabilities
Creditors: amounts falling due within one year	17	(4,128,101)		(3,449,042)
Net current assets			4,061,987		3,719,530
Total assets less current liabilities			5,801,898		5,533,402
Creditors: amounts falling due after more than one year	18		(1,264,816)		(436,156)
Provisions for liabilities
Deferred taxation	20	(17,408)		(17,408)
			(17,408)		(17,408)
Net assets			4,519,674		5,079,838

Capital and reserves
Called up share capital	21	244,240	244,240
Share premium account	22	75,050	75,050
Foreign exchange reserve	22	15,306	-
Profit and loss account	22	4,185,078	4,760,548
Shareholders' funds		4,519,674	5,079,838

Page 13


OCO Global Limited Registered number:NI045268

Company balance sheet (continued)

As at 31 March 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 November 2025.

................................................

Mark O'Connell

Director

The notes on pages 19 to 40 form part of these financial statements.

Page 14


OCO Global Limited

Consolidated statement of changes in equity

For the year ended 31 March 2024

	Called up share capital	Share premium account	Foreign exchange reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 April 2023	244,240	75,050	(26,070)	4,274,689	4,567,909
Comprehensive income for the year
Profit for the year	-	-	-	955,666	955,666
Currency translation differences	-	-	8,316	-	8,316
Dividends: Equity capital	-	-	-	(547,760)	(547,760)
At 31 March 2024	244,240	75,050	(17,754)	4,682,595	4,984,131

Consolidated statement of changes in equity

For the year ended 31 March 2023

	Called up share capital	Share premium account	Foreign exchange reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 April 2022	244,240	75,050	(20,487)	3,362,567	3,661,370
Comprehensive income for the year
Profit for the year	-	-	-	1,749,609	1,749,609
Currency translation differences	-	-	(5,583)	-	(5,583)
Dividends: Equity capital	-	-	-	(837,487)	(837,487)
At 31 March 2023	244,240	75,050	(26,070)	4,274,689	4,567,909

The notes on pages 19 to 40 form part of these financial statements.

Page 15


OCO Global Limited

Company statement of changes in equity

For the year ended 31 March 2024

	Called up share capital	Share premium account	Foreign exchange reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 April 2023	244,240	75,050	-	4,760,548	5,079,838
Comprehensive income for the year
Loss for the year	-	-	-	(27,710)	(27,710)
Currency translation differences	-	-	15,306	-	15,306
Dividends: Equity capital	-	-	-	(547,760)	(547,760)
At 31 March 2024	244,240	75,050	15,306	4,185,078	4,519,674

Company statement of changes in equity

For the year ended 31 March 2023

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2022	244,240	75,050	2,938,930	3,258,220
Comprehensive income for the year
Profit for the year	-	-	2,659,105	2,659,105
Dividends: Equity capital	-	-	(837,487)	(837,487)
At 31 March 2023	244,240	75,050	4,760,548	5,079,838

The notes on pages 19 to 40 form part of these financial statements.

Page 16


OCO Global Limited

Consolidated statement of cash flows

For the year ended 31 March 2024

			2024	2023
			£	£

Cash flows from operating activities
Profit for the financial year	955,666	1,749,609
Adjustments for:
Amortisation of intangible assets	143,800	37,998
Depreciation of tangible assets	42,149	53,076
Interest paid	85,432	29,293
Taxation charge	266,108	(81,985)
(Increase) in debtors	(447,258)	(2,659,354)
(Decrease)/increase in creditors	(468,555)	1,724,726
Corporation tax (paid)	(266,108)	(297,000)
Net cash generated from operating activities	311,234	556,363

Cash flows from investing activities
Purchase of intangible fixed assets	(201,980)	(437,330)
Purchase of tangible fixed assets	(21,645)	(57,594)
Purchase of share in joint ventures	-	(40,434)
Net cash from investing activities	(223,625)	(535,358)
Cash flows from financing activities
Repayment of loans	933,110	(50,564)
Dividends paid	(547,760)	(837,487)
Interest paid	(85,432)	(29,293)
Movement in government grants	5,643	-
Net cash used in financing activities	305,561	(917,344)
Net increase/(decrease) in cash and cash equivalents	393,170	(896,339)
Cash and cash equivalents at beginning of year	1,679,122	2,575,461
Cash and cash equivalents at the end of year	2,072,292	1,679,122

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	2,072,292	1,679,122

The notes on pages 19 to 40 form part of these financial statements.

Page 17


OCO Global Limited

Consolidated Analysis of Net Debt

For the year ended 31 March 2024


At 1 April 2023	Cash flows	At 31 March 2024
£	£	£

Cash at bank and in hand	1,679,122	393,170	2,072,292
Debt due after 1 year	(436,156)	(828,660)	(1,264,816)
Debt due within 1 year	(46,690)	(104,450)	(151,140)
	1,196,276	(539,940)	656,336

The notes on pages 19 to 40 form part of these financial statements.

Page 18


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

1.	General information

OCO Global Limited is a company limited by shares and is registered office is 6 Citylink, Belfast, BT12 4HB. The Company's principal activity is the provision of consultancy services to the public and private sectors.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 19


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

2.Accounting policies (continued)

2.3

Going concern

Page 20


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 21


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

2.Accounting policies (continued)

2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Page 22


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

2.Accounting policies (continued)

2.10

Current and deferred taxation (continued)

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

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.

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 23


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

2.Accounting policies (continued)

2.12

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	over the period of the lease
Fixtures and fittings	-	10% Straight line
Office equipment	-	10% Straight line
Computer equipment	-	20% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 24


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

2.Accounting policies (continued)

2.15

Associates and joint ventures

An entity is treated as a joint venture where the Group is a party to a contractual agreement with one or more parties from outside the Group to undertake an economic activity that is subject to joint control.

An entity is treated as an associated undertaking where the Group exercises significant influence in that it has the power to participate in the operating and financial policy decisions.
In the consolidated accounts, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The Consolidated statement of comprehensive income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. In the Consolidated balance sheet, the interests in associated undertakings are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition.
Any premium on acquisition is dealt with in accordance with the goodwill policy.

2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 25


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

2.Accounting policies (continued)

2.20

Financial instruments

The Group only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:

∙at fair value with changes recognised in the Consolidated statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;

∙at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

2.21

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.

Page 26


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
a) Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.
b) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets.
c) Valuation of amount recoverable on contracts
Estimates are made in respect of the valuation of amounts recoverable on contracts at the year end. When assessing the level of provisions required, factors including current trading experience, historical experience and ageing of debt are considered.

Turnover

Analysis of turnover by country of destination:

					2024	2023
					£	£

United Kingdom	15,903,726	15,581,222
Europe	2,969,891	1,167,522
Asia and Rest of the World	627,133	577,733
	19,500,750	17,326,477

5.	Interest payable and similar expenses
		2024	2023
		£	£

Loan interest payable

85,432

29,293

Page 27


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

Depreciation charges	39,156	53,076
Auditors remuneration	69,650	30,000
Fees paid for non audit services	12,500	17,500
Amortisation	123,711	37,998
Exchange differences	195,987	67,225
Other operating lease rentals	382,316	343,835

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2024	2023
	No.	No.

Employees	169	158

Staff costs were as follows:

	Group	Group	Company
	2024	2023	2024
	£	£	£
Wages and salaries	9,518,708	8,693,345	-
Social security costs	489,596	424,519	433,133
Cost of defined contribution scheme	138,099	131,133	138,099

	10,146,403	9,248,997	571,232

8.	Directors remuneration
		2024	2023
		£	£


Directors' emoluments	171,369	160,195
Group Contributions to defined contribution pension schemes	4,875	34,582
	176,244	194,777

Page 28


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

9.	Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The loss after tax of the parent Company for the year was £27,710 (2023 - profit £2,659,105).

Corporation tax
Current tax on profits for the year	266,108	10,775
Adjustments in respect of previous periods	-	(55,282)

	Deferred tax
	Origination and reversal of timing differences	-	(37,478)


	Taxation on profit/(loss) on ordinary activities	266,108	(81,985)

Page 29


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

10.Taxation (continued)

Profit on ordinary activities before tax

1,221,774

1,667,624

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)	305,444	316,849
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	36,410	30,670
Fixed asset timing differences	9,846	-
Losses not recognised	-	8,074
Adjustments in respect of prior periods	26,340	(55,282)
Adjustments in respect of prior periods - deferred tax	70,727	-
Group relief	-	(1,947)
Foreign tax adjustments	(125,016)	-
Other foreign tax adjustments	(58,210)	-
Foreign PE exemption	-	(380,349)
Other permanent differences	567	-
Total tax charge for the year	266,108	(81,985)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 30


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

11.	Tangible fixed assets
	Group

	Freehold property	Office equipment	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2023	962,375	235,361	497,661	1,695,397
Additions	2,457	12,902	6,286	21,645
Exchange adjustments	-	-	(46,922)	(46,922)
At 31 March 2024	964,832	248,263	457,025	1,670,120
Depreciation
At 1 April 2023	29,780	117,409	436,883	584,072
Charge for the year	7,738	16,348	18,063	42,149
Exchange adjustments	(6,565)	(17,813)	(34,271)	(58,649)
At 31 March 2024	30,953	115,944	420,675	567,572
Net book value
At 31 March 2024	933,879	132,319	36,350	1,102,548
At 31 March 2023	932,595	117,952	60,778	1,111,325

Page 31


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

11.Tangible fixed assets (continued)

	Company

	Freehold property	Office equipment	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2023	955,000	211,988	450,739	1,617,727
Additions	-	23,571	6,286	29,857
At 31 March 2024	955,000	235,559	457,025	1,647,584
Depreciation
At 1 April 2023	23,215	99,596	402,612	525,423
Charge for the year	7,738	16,348	18,063	42,149
At 31 March 2024	30,953	115,944	420,675	567,572
Net book value
At 31 March 2024	924,047	119,615	36,350	1,080,012
At 31 March 2023	931,785	112,392	48,127	1,092,304

The Group and the Company had no capital commitments at 31 March 2024 (2023: £Nil). Certain tangible assets are pledged as security for the Group’s borrowings (see note 19).

Page 32


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

12.	Intangible assets
	Group

	Computer software	Goodwill	Total
	£	£	£
Cost
At 1 April 2023	897,640	-	897,640
Additions	82,130	119,850	201,980
At 31 March 2024	979,770	119,850	1,099,620
Amortisation
At 1 April 2023	248,299	-	248,299
Charge for the year	143,800	-	143,800
At 31 March 2024	392,099	-	392,099
Net book value
At 31 March 2024	587,671	119,850	707,521
At 31 March 2023	649,341	-	649,341

Page 33


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

12.Intangible assets (continued)

	Company

		Computer software
		£
	Cost
	At 1 April 2023	897,640
	Additions	82,130
	At 31 March 2024	979,770

	Amortisation
	At 1 April 2023	248,299
	Charge for the year	143,800
	At 31 March 2024	392,099

	Net book value
	At 31 March 2024	587,671
	At 31 March 2023	649,341

Page 34


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

13.	Fixed asset investments

	Company

	Investments in subsidiary companies	Investment in joint ventures	Total
	£	£	£
Cost or valuation
At 1 April 2023	31,793	40,434	72,227
At 31 March 2024	31,793	40,434	72,227

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

OCO Global Australia PTY	Australia	Ordinary	100%
OCO Consulting LLC	USA	Ordinary	100%
OCO Global GmBH	Germany	Ordinary	100%
OCO Global Trade and Advisory Services Limited	Ireland	Ordinary	100%
British Centre for Business Overseas Limited	UK	Ordinary	100%
OCO Global Mena Limited	Abu Dhabi	Ordinary	100%
OCO Hong Kong Ltd	Hong Kong	Ordinary	100%
OCO (Shanghai) Business Consulting Co Ltd	China	Ordinary	100%
C Studios	Netherlands	Ordinary	50%
Bizzyou	Spain	Ordinary	100%

The principal activity of the above subsidiaries are that of providing consulting services in support of the groups customers.

14.	Dividends
		2024	2023
		£	£

Dividends paid

547,760

837,487

Page 35


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

15.	Debtors
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Due after more than one year
Other debtors	25,004	115,973	-	98,573

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£

Due within one year
Trade debtors	4,430,494	4,577,472	3,451,226	3,727,475
Amounts owed by group undertakings	-	-	919,177	821,818
Other debtors	1,788,239	975,743	1,734,781	854,599
Prepayments and accrued income	702,193	663,738	629,500	663,738
	6,920,926	6,216,953	6,734,684	6,067,630

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
Amounts owed to related parties included within other debtors has been disclosed in note 25.

16.	Cash and cash equivalents
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

	Cash at bank and in hand	2,072,292	1,679,122	1,455,404	1,002,369

17.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Bank loans	151,140	46,690	151,140	46,690
Trade creditors	1,040,272	829,059	836,907	759,434
Amounts owed to group undertakings	-	-	946,150	278,015
Other taxation and social security	400,578	364,612	156,876	300,099
Other creditors	1,243,316	330,510	1,113,457	300,084
Accruals and deferred income	1,610,650	3,070,033	923,571	1,764,720
	4,445,956	4,640,904	4,128,101	3,449,042

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Page 36


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

18.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Bank loans	1,264,816	436,156	1,264,816	436,156
Accruals and deferred income	156,414	150,771	-	-
	1,421,230	586,927	1,264,816	436,156

19.	Loans
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Amounts falling due within one year
Bank loans	151,140	46,690	151,140	46,690
Amounts falling due 1-2 years
Bank loans	151,700	46,690	151,700	46,690
Amounts falling due 2-5 years
Bank loans	453,420	140,071	453,420	140,071
Amounts falling due after more than 5 years
Bank loans	659,696	249,395	659,696	249,395
	1,415,956	482,846	1,415,956	482,846

The bank loan is secured by

∙Certain property of the Group with a net book value of £924k (note 11); and

∙Letters of guarantee from one of the directors amounting to £339k

The bank loans carry interest at a rate of approximately 4% per annum and are repayable in installments of approximately £80,000 per annum which includes capital and interest. The loan will be repaid during 2030.

Page 37


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

20.	Deferred taxation
	Group

	2024	2023
	£	£

At beginning of year	(17,408)	(17,771)
Charged to profit or loss	-	363
At end of year	(17,408)	(17,408)

Company

	2024	2023
	£	£

At beginning of year	(17,408)	(17,771)
Charged to profit or loss	-	363
At end of year	(17,408)	(17,408)

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£

	Fixed asset timing	(21,632)	(21,632)	(21,632)	(21,632)
	Short term timing	4,224	4,224	4,224	4,224

21.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,611,984 (2023 - 1,611,984) Ordinary A shares of £0.10 each	161,198	161,198
708,296 (2023 - 708,296) Ordinary B shares of £0.10 each	70,830	70,830
122,120 (2023 - 122,120) Ordinary D shares of £0.10 each	12,212	12,212

	244,240	244,240

Page 38


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

22.

Reserves

Share premium account

Includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Foreign exchange reserve

Foreign exchange translation reserve comprises translation differences arising from the translation of financial statements of the Group's foreign entities into the presentational currency.

Profit and loss account

This reserve includes all current and prior period retained profits and losses.

23.	Business combinations

On 20th March 2024, the Company acquired the trade and assets of Bizzyou.io.

Current Assets
Debtors	4,690	(4,690)
Total Assets	4,690	(4,690)
Total Identifiable net assets	4,690	(4,690)


	Goodwill	119,850
	Total purchase consideration	119,850

	Consideration
					£


	Cash	119,850
	Total purchase consideration	119,850

Page 39


OCO Global Limited

Notes to the financial statements

For the year ended 31 March 2024

23.Business combinations (continued)

	Cash outflow on acquisition
					£


	Purchase consideration settled in cash, as above	119,850
	Net cash outflow on acquisition	119,850

The total revenue and profit attributable to the current year amounts to £Nil.

24.	Commitments under operating leases
	At 31 March 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2024	2023
		£	£

	Not later than 1 year	601,323	451,560
		601,323	451,560

25.	Related party transactions
	The Company is exempt from disclosing transactions with group relates parties under Section 33 FRS 102 "Related Party Disclosures", as it is wholly controlled within the Group. Included in other debtors is a balance due from a director of £727,975 (2023: £367,957).

26.	Post balance sheet event

27.	Controlling party

The ultimate controlling parties are the shareholders.

Page 40