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Registered number: 05875867 VIA GLOBAL LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
VIA GLOBAL LIMITED
COMPANY INFORMATION
Directors | S M T Lam
| A Lee
| C Lee
| M Royden
| C W So (appointed 16 November 2024)
Registered number | 05875867
Registered office | 5 Elstree Gate,
| Elstree Way
| Borehamwood
| Hertfordshire
| WD6 1JD
Independent auditors | Sopher + Co LLP
| Chartered Accountants & Statutory Auditors
| 5 Elstree Gate
| Elstree Way
| Borehamwood
| Hertfordshire
| WD6 1JD
VIA GLOBAL LIMITED
CONTENTS
| Page
Group strategic report | 1 - 2
Directors' report | 3 - 8
Independent auditors' report | 9 - 12
Consolidated statement of comprehensive income | 13
Consolidated statement of financial position | 14 - 15
Company statement of financial position | 16
Consolidated statement of changes in equity | 17 - 18
Company statement of changes in equity | 19
Consolidated statement of cash flows | 20 - 21
Notes to the financial statements | 22 - 38
VIA GLOBAL LIMITED
GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Introduction
The Group offers a worldwide sea, land and air freight service from offices in North America, Europe and Asia. As part of the Hong Kong based Hecny Group, we have access to over 270 logistics partners (through owned offices and agents) enabling us to reach most parts of all major markets, and negotiate very competitive rates.
Business review
The principal activity of the Group continued to be that of a freight forwarder. The Directors found that the Group's performance had significantly increased on the top line by £10.5m with an increase of cost of sales by £10.6m compared to the previous year. This resulted in a gross profit reduction of £0.1m from the year before. The reduction of this can be attributed to higher freight rates, higher volumes, but smaller profit margins. The competition on the major east west trades was very volatile. Ocean carriers moving into traditional forwarders business made the market extremely competitive. The Group is committed to diversifying the business in sea, air, and 3PL handling, which has been successful so far. We have secured a significant 4PL contract and have seen a substantial increase on this side of the business to increase in 2025 and expect this to continue into 2026. We have recently established an air freight department in the U.S, this has already produced strong results in 2025 and the first month of 2026. We have also upgraded our intra EU department and have seen promising growth for 2025 and expect this to continue in 2026. We have expanded our global reach to cover seven major trade lanes and markets, making us less susceptible to economic downturns, despite facing competition from other freight forwarders and ocean carriers.
Principal risks and uncertainties
We believe 2026 will be a very challenging year for the logistics industry. Change of carrier consortiums in the east-west trades will mean more tonnage coming into the trades and will undoubtedly result in lower freight rates, which in turn means a lower returns industry wide. Add to this, the uncertainty in global trades due to US tariffs now in play, ex China and EU to the US, two of our biggest markets. The Group trades in the major currencies; Sterling, US Dollars and Euros. It minimises any currency risk by settling in cost price currency. The Group is well structured and resilient. Management decision-making and control mechanisms are robust. It continues to enter into new markets and new areas of revenue, specifically warehousing, control tower opportunities, customs, European trucking and project cargo allowing diversification away from pure play container movements.
Financial key performance indicators
Key performance indicators are measured on a monthly basis. These cover customer performance, turnover, gross profit, overheads, cash flow and accounts receivable. Each of these are measured against budgets and KPIs by senior management in London and Hong Kong.
Page 1
VIA GLOBAL LIMITED
GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 This report was approved by the board on 23 February 2026 and signed on its behalf.
M Royden Director
Page 2
VIA GLOBAL LIMITED
DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Directors present their report and the financial statements for the year ended 31 December 2024.
Directors
The Directors who served during the year were:
S M T Lam
A Lee
C Lee
M Royden
C W So (appointed 16 November 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 judgments 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.
Results and dividends
The profit for the year, after taxation and minority interests, amounted to £434,766 (2023 - £2,406,580). During the year the company did not declare dividends (2023 - £2,202,423). Page 3
VIA GLOBAL LIMITED
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Future developments
The Directors see continued growth of business, especially from Asia to USA, where the USA economy remains strong. Hecny, our parent company, are able to lever their large volume in the Trans Pacific market and, coupled with the Asian agency set up, places Global in a very competitive position in this market. We also see opportunities in new markets, specifically the Middle East where we have engaged new agents. We believe Asia to UK will see a slight downturn as the U.K economy reduces and additional space coming into the market will result on freight rate pressure. Trans Atlantic space will be stable, freight rates will depend on USA tariffs implemented and the potential effect on exports into the USA.
Engagement with employees
The Group has continued throughout the year to provide employees with relevant information and to seek their views on matters of common concern. Priority is given to ensuring that employees are aware of all significant matters affecting the Group's performance and of any significant organisational changes.
Engagement with suppliers, customers and others
The Group does not confirm to any code or standard regarding payment practice. However, it is the Group's policy to settle the terms of payment with suppliers when business is agreed, to ensure that suppliers are made aware of them and to pay invoices in accordance with these terms. Page 4
VIA GLOBAL LIMITED
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Streamlined Energy and Carbon Reporting (SECR)
Introduction Purpose: This report provides a transparent overview of Hecny Forwarding Ltd and Hecny Logistics energy use, carbon emissions, and greenhouse gas (GHG) impacts, reflecting our commitment to environmental responsibility and regulatory compliance. The report aligns with Streamlined Energy and Carbon Reporting (SECR) requirements and guidelines from the GHG Protocol. Scope: This report covers the period from January to December 2024, focusing on the Group's UK-based locations, specifically the Hayes, London, and Manchester offices. The primary emphasis is on Scope 1 and Scope 3 emissions: ∙Scope 1: Direct emissions from company-owned assets, including fleet vehicles and facility operations. ∙Scope 2: Indirect emissions from purchased electricity, heating and cooling used in company operations. ∙Scope 3: Selected indirect emissions, such as employee commuting and business travel. While Scope 3 reporting is voluntary, Hecny Forwarding Ltd recognises its importance and has begun measuring some third-party emissions. However, emissions related to third-party logistics activities are excluded from this report due to current data collection limitations. As data collection processes improve, we anticipate including these emissions in future reports to provide a more comprehensive overview of our environmental impact. Objective: To track, manage, and communicate our environmental impact transparently, supporting the sustainability goals of the Group. Greenhouse Gas (GHG) Emissions Scope 1 Emissions (Direct Emissions) Scope 1 emissions refer to direct greenhouse gas emissions from company-controlled sources, including fleet vehicles (trucks) used by Hecny Forwarding Ltd. Data Collection: Fleet emissions are calculated based on fuel consumption data from company-owned trucks. This data is tracked monthly, and emissions are calculated using Business, Energy and Industrial Strategy (BEIS) conversion factors for fuel types. Total Fleet Emissions (2024): Fuel Consumption: 54,160.20 gallons Emissions Factor (CO2 per unit of fuel): 8.87kg CO2e Total Emissions: 54,160.20 x 8.87 = 480,053 kg CO2e (=480.05 tonnes CO2e) Total Scope 1 Emissions: 480.1 tCO2e Scope 2 Emissions (Indirect Emissions from Electricity) Scope 2 emissions refer to indirect greenhouse gas emissions generated from purchased electricity used across Hecny’s UK offices, including lighting, heating, cooling, and office equipment. 2023 (Reported Previously) Electricity Consumption: 54,077.1 kWh Total Scope 2 Emissions: 12.5 tCO2e 2024 Data Total Scope 2 Emissions (2024): 12.5 tCO2e Electricity Consumption (2024): 53,823.50 kWh Page 5
VIA GLOBAL LIMITED
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Scope 3 Emissions (Other Indirect Emissions) Scope 3 emissions include all other indirect emissions, such as business travel, waste, and water usage. ∙Business Travel: °Train emissions: 90.5 tCO2e °Tax emissions (in work travel): 78.6 tCO2e °Uber emissions (commute): 155.2 tCO2e °Plane emissions: 17.7 tCO2e °Petrol emissions (in work travel): 52.4 tCO2e °Petrol emissions commute: 52.8 tCO2e ∙Water Usage (Total Water Supplied): °Sewage Water: 433 cubic meters °Treatment Water: 433 cubic meters ∙Waste Recycling: °50% recyclable waste collected in 1,200-litre waste wheeled bins. GHG Reduction Initiatives and Targets Hecny Forwarding Ltd has set ambitious goals for reducing greenhouse gas emissions, with the target of achieving Net Zero by 2050. Specific initiatives include: ∙Fleet Emissions Reduction: Transition to electric vehicles (EVs) for 20% of the fleet by 2027. ∙Energy Efficiency: Implement LED lighting and energy-saving practices, targeting a 5% reduction in electricity consumption by 2024. ∙Employee Engagement: Promote business travel alternatives such as virtual meetings and use of public transportation Intensity Metrics Base Year 2023 The emissions intensity is approximately 1,841.82 CO2e per employee. Emissions per Employee (Intensity Metric) 2024 2024 Emissions Intensity = 16.78 tCO2e per employee. Narrative Summary The 2024 emissions intensity figure reflects an updated methodology that applies current DEFRA/BEIS conversion factors and improved data accuracy across fuel, electricity, commuting, and business travel. As part of our continuous improvement approach, these refinements ensure that the 2024 values provide a more accurate picture of operational emissions. This means the 2024 figure is not directly comparable to previous years, which were calculated using earlier methods and assumptions. Energy Efficiency Activities Over the financial year, Hecny Forwarding Ltd has implemented several energy efficiency initiatives: ∙LED Lighting: 100% of office spaces in Hayes and Manchester have been upgraded. ∙Energy-efficient equipment: Introduced energy-efficient printers and HVAC systems. ∙EV Charging Stations: Installed in each office location to encourage employee use of electric vehicles. Greenhouse Gas Emissions - Qualitative Targets and Quantitative Objectives The following section provides qualitative targets and quantitative objectives to support emissions reductions in various operational areas. Page 6
VIA GLOBAL LIMITED
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 1.Electricity Consumption (kWh - Split between Hecny Forwarding and Hecny Logistics Divisions) a.Qualitative Target: Ensure accurate energy tracking and allocation between divisions for a fair representation of environmental impact. b.Quantitative Objective: Split electricity usage data monthly by department, aiming for a 5% reduction in annual energy consumption across all divisions by year-end. 2.Business Travel by Rail (Business Development Manager Start and End Destinations) a.Qualitative Target: Improve emissions tracking by capturing full journey details for rail travel. b.Quantitative Objective: Record start and end points for all rail journeys, enabling accurate CO2 emissions calculations. Aim for a 10% annual reduction in rail-related emissions by promoting virtual meetings. 3.Electric EV Charger Usage (Promotion) a. Qualitative Target: Increase staff awareness and use of EV chargers to reduce emissions. b.Quantitative Objective: Achieve a 25% increase in EV charger usage through incentives like priority parking by the end of the fiscal year. 4.Cycle to Work Incentive a.Qualitative Target: Promote cycling to work by providing safe storage and participation incentives. b.Quantitative Objective: Increase participation in the cycle-to-work scheme by 10%, and expand bike storage capacity to accommodate at least 10 bikes by the end of 2025. 5.Waste Reduction and Recycling a.Qualitative Target: Reduce waste generated on-site and improve recycling rates. b.Quantitative Objective: Reduce overall waste output by 15% and increase recycling by 20% through separate recycling bins and awareness campaigns 6.London Underground Travel (Promote as a Low-Carbon Alternative) a.Qualitative Target: Encourage employees to use the London Underground for travel within Greater London as a low-carbon alternative. b.Quantitative Objective: Increase London Underground travel for business purposes by 15% by 2025. 7.Business Travel by Train a.Qualitative Target: Promote train travel over taxis for short-distance business travel as an eco-friendly option. b.Quantitative Objective: Achieve a 30% shift from taxi to train travel for journeys under 3 hours by 2025. 8.Uber Journeys (Emissions Tracking) a.Qualitative Target: Capture accurate emissions data for Uber journeys by tracking mileage from receipts. b.Quantitative Objective: Capture 100% of Uber receipts by the end of 2025 to track mileage and emissions data accurately. 9.Business Travel by Taxi a.Qualitative Target: Reduce taxi reliance by promoting train travel for short intra-city trips. b.Quantitative Objective: Decrease taxi usage by 20% by encouraging train travel by 2025. Page 7
VIA GLOBAL LIMITED
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023
Fuel (gallons) | 54,160 | 73,774
Electricity (kWh) | 53,824 | 54,077
Water (cubic meters) | 866 | 442
| 2024 | 2023
| tCO2e | tCO2E
Emissions from |  |
Scope 1 | 480 | 657
Scope 2 | 13 | 13
Scope 3 | 447 | 87
| 940 | 757
Disclosure of information to auditors
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 auditors are 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 auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Group since the year end.
Auditors
The auditors, Sopher + Co LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 23 February 2026 and signed on its behalf.
M Royden Director
Page 8
VIA GLOBAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA GLOBAL LIMITED
Opinion
We have audited the financial statements of Via Global Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Group Statement of comprehensive income, the Group and Company Statements of financial position, the Group Statement of cash flows, the Group and Company Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 December 2024 and of the Group's profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report. Page 9
VIA GLOBAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA GLOBAL LIMITED (CONTINUED)
Other information
The Directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' report 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 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Group strategic report and the Directors' 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 Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' 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.
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 3, 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 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, the Directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so. Page 10
VIA GLOBAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA GLOBAL LIMITED (CONTINUED)
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 an Auditors' report 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 Group financial statements. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; ∙we identified the laws and regulations applicable to the Group through discussions with directors and other management, and from our commercial knowledge and experience of similar businesses; ∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Group, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; ∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and ∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the Group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: ∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; ∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and ∙understanding the design of the Group’s remuneration policies. To address the risk of fraud through management bias and override of controls, we: ∙performed analytical procedures to identify any unusual or unexpected relationships; ∙tested journal entries to identify unusual transactions; ∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and ∙investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: ∙agreeing financial statement disclosures to underlying supporting documentation; ∙reading the minutes of meetings of those charged with governance; ∙enquiring of management as to actual and potential litigation and claims; and ∙reviewing correspondence with HMRC. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations Page 11
VIA GLOBAL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VIA GLOBAL LIMITED (CONTINUED) to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Use of our report
This report is made solely to the Company's members 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 Auditors' 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 for our audit work, for this report, or for the opinions we have formed. Sean Brennan FCCA (Senior statutory auditor) for and on behalf of Sopher + Co LLP Chartered Accountants Statutory Auditors 5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD 23 February 2026 Page 12
VIA GLOBAL LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2024
|  | As restated
| 2024 | 2023
Note | £ | £
Turnover | 4 | 51,093,902 | 40,607,478
Cost of sales |  | (42,426,756) | (31,829,178)
Gross profit |  | 8,667,146 | 8,778,300
Administrative expenses |  | (7,831,907) | (7,630,374)
Other operating income | 5 | 34,916 | 27,355
Fair value movements |  | 110,000 | 1,828,538
Operating profit | 6 | 980,155 | 3,003,819
Interest receivable and similar income | 10 | 485 | 2,228
Interest payable and similar expenses | 11 | (9,049) | (5,446)
Profit before taxation |  | 971,591 | 3,000,601
Tax on profit | 12 | (439,725) | (622,861)
Profit for the financial year |  | 531,866 | 2,377,740
Profit for the year attributable to: |  |  |
Non-controlling interests |  | 97,100 | (28,840)
Owners of the Company |  | 434,766 | 2,406,580
|  | 531,866 | 2,377,740
Total comprehensive income for the year attributable to: |  |  |
Non-controlling interest |  | 97,100 | (28,840)
Owners of the Company |  | 434,766 | 2,406,580
|  | 531,866 | 2,377,740
There was no other comprehensive income for 2024 (2023:£NIL).
The notes on pages 22 to 38 form part of these financial statements.
Page 13
VIA GLOBAL LIMITED REGISTERED NUMBER:05875867
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  |  |  | As restated
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 15 |  | 9,654 |  | 11,585
Tangible assets | 16 |  | 8,408,330 |  | 8,316,794
|  |  | 8,417,984 |  | 8,328,379
Current assets |  |  |  |  |
Debtors: amounts falling due after more than one year | 18 | 12,295 |  | 47,102 |
Debtors: amounts falling due within one year | 18 | 11,650,522 |  | 9,585,199 |
Bank and cash balances |  | 4,747,621 |  | 4,104,407 |
|  | 16,410,438 |  | 13,736,708 |
Creditors: amounts falling due within one year | 19 | (20,566,244) |  | (18,363,509) |
Net current liabilities |  |  | (4,155,806) |  | (4,626,801)
Total assets less current liabilities |  |  | 4,262,178 |  | 3,701,578
Provisions for liabilities |  |  |  |  |
Deferred taxation | 20 | (676,729) |  | (647,995) |
|  |  | (676,729) |  | (647,995)
Net assets excluding pension asset |  |  | 3,585,449 |  | 3,053,583
Net assets |  |  | 3,585,449 |  | 3,053,583
Capital and reserves |  |  |  |  |
Called up share capital | 21 |  | 140 |  | 140
Revaluation reserve | 22 |  | 1,981,019 |  | 1,898,519
Capital redemption reserve | 22 |  | 100 |  | 100
Profit and loss account | 22 |  | 1,221,406 |  | 869,140
Equity attributable to owners of the Company |  |  | 3,202,665 |  | 2,767,899
Non-controlling interests |  |  | 382,784 |  | 285,684
|  |  | 3,585,449 |  | 3,053,583
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 February 2026. Page 14
VIA GLOBAL LIMITED REGISTERED NUMBER:05875867
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2024
M Royden
Director
The notes on pages 22 to 38 form part of these financial statements. Page 15
VIA GLOBAL LIMITED REGISTERED NUMBER:05875867
COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 17 |  | 529,165 |  | 529,165
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 18 | 419,715 |  | 2,189,730 |
Bank and cash balances |  | 305 |  | 304 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 19 | (438,563) |  | (2,205,457) |
Net current liabilities |  |  | (18,543) |  | (15,423)
Net assets |  |  | 510,622 |  | 513,742
Capital and reserves |  |  |  |  |
Called up share capital | 21 |  | 140 |  | 140
Capital redemption reserve | 22 |  | 100 |  | 100
Profit and loss account | 22 |  | 510,382 |  | 513,502
|  |  | 510,622 |  | 513,742
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 February 2026.
M Royden
Director
The notes on pages 22 to 38 form part of these financial statements. Page 16

|  | VIA GLOBAL LIMITED |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
|  | Called up share capital | Capital redemption reserve | Revaluation reserve | Profit and loss account | Equity attributable to owners of parent Company | Non-controlling interests | Total equity
|  | £ | £ | £ | £ | £ | £ | £
| At 1 January 2024 | 140 | 100 | 1,898,519 | 869,140 | 2,767,899 | 285,684 | 3,053,583
| Profit for the year | - | - | - | 434,766 | 434,766 | 97,100 | 531,866
| Fair value gain on investment | - | - | 110,000 | (110,000) | - | - | -
| Deferred movements on investment | - | - | (27,500) | 27,500 | - | - | -
| At 31 December 2024 | 140 | 100 | 1,981,019 | 1,221,406 | 3,202,665 | 382,784 | 3,585,449
| The notes on pages 22 to 38 form part of these financial statements.
Page 17

|  | VIA GLOBAL LIMITED |
RESTATED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
|  | Called up share capital | Capital redemption reserve | Revaluation reserve | Profit and loss account | Equity attributable to owners of parent Company | Non-controlling interests | Total equity
|  | £ | £ | £ | £ | £ | £ | £
| At 1 January 2023 | 140 | 100 | 527,116 | 2,057,542 | 2,584,898 | 314,524 | 2,899,422
| Profit for the year | - | - | - | 2,406,580 | 2,406,580 | (28,840) | 2,377,740
| Dividends: Equity capital | - | - | - | (2,223,579) | (2,223,579) | - | (2,223,579)
| Fair value gain on investment | - | - | 1,828,538 | (1,828,538) | - | - | -
| Deferred movements on investment | - | - | (457,135) | 457,135 | - | - | -
| At 31 December 2023 | 140 | 100 | 1,898,519 | 869,140 | 2,767,899 | 285,684 | 3,053,583
| The notes on pages 22 to 38 form part of these financial statements.
Page 18

VIA GLOBAL LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2024 | 140 | 100 | 513,502 | 513,742
Loss for the year | - | - | (3,120) | (3,120)
At 31 December 2024 | 140 | 100 | 510,382 | 510,622
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
| Called up share capital | Capital redemption reserve | Profit and loss account restated | Total equity restated
| £ | £ | £ | £
At 1 January 2023 | 140 | 100 | 519,386 | 519,626
Profit for the year | - | - | 2,196,539 | 2,196,539
Dividends: Equity capital | - | - | (2,202,423) | (2,202,423)
At 31 December 2023 | 140 | 100 | 513,502 | 513,742
| The notes on pages 22 to 38 form part of these financial statements.
Page 19
VIA GLOBAL LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024
|  |  |  | As restated
|  |  | 2024 | 2023
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 531,866 | 2,377,740
Adjustments for: |  |
Amortisation of intangible assets | 1,931 | 3,862
Depreciation of tangible assets | 53,980 | 73,282
Loss on disposal of tangible assets | - | 20,117
Interest paid | 9,049 | 5,446
Interest received | (485) | (2,228)
Taxation charge | 439,725 | 622,861
(Increase)/decrease in debtors | (1,993,636) | 1,430,527
(Increase)/decrease in amounts owed by groups | (36,878) | 591,169
Increase/(decrease) in creditors | 1,510,784 | (2,009,631)
Increase/(decrease)) in amounts owed to groups | 436,619 | (5,634,405)
Net fair value (gains) recognised in P&L | (110,000) | (1,828,538)
Corporation tax (paid) | (155,659) | (405,492)
NIC movement | - | 13,132
Other movement | - | 1,869
Prior year adjustment impacting profit | - | (664,827)
Net cash generated from operating activities | 687,296 | (5,405,116)
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (35,518) | (25,461)
Interest received | 485 | 2,228
Net cash from investing activities | (35,033) | (23,233)
Page 20
VIA GLOBAL LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
|  |  | As restated
|  | 2024 | 2023
|  | £ | £
Cash flows from financing activities |  |
Dividends paid | - | (2,223,579)
Interest paid | (9,049) | (5,446)
Net cash used in financing activities | (9,049) | (2,229,025)
Net increase/(decrease) in cash and cash equivalents | 643,214 | (7,657,374)
Cash and cash equivalents at beginning of year | 4,104,407 | 11,761,781
Cash and cash equivalents at the end of year | 4,747,621 | 4,104,407
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 4,747,621 | 4,104,407
The notes on pages 22 to 38 form part of these financial statements.
Page 21
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Via Global Limited is a limited company incorporated and domiciled in England & Wales, with its registered office address at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, United Kingdom, WD6 1JD. 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 judgment 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 Statement of financial position, 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.
| 2.3 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Sea and Air Freight: Revenue is recognised on the date of dispatch, as this is the point at which the Grop has fulfilled its performance obligation and transferred the risks and rewards of transport. UK-Based Fulfillment Services: Revenue is recognised on the date of arrival, reflecting the completion of the service when goods reach their final destination. Page 22
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | 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. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. 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.
| 2.5 | 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. At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Page 23
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | 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 and the reducing balance method. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | Not depreciated. Refer to note 2.6
|  |  |  | Short-term leasehold property | - | Straight line of the term of the lease
|  |  |  | Plant and machinery | - | 25% reducing balance
|  |  |  | Fixtures and fittings | - | 15% reducing balance
|  |  |  | Office equipment | - | 50% reduced balance
|  |  |  | Computer equipment | - | 50% reducing balance
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.
| 2.6 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.7 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 24
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Financial instruments
The Group only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties. Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafterthey are stated at amortised cost using the effective interest method. Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
| 2.9 | Foreign currency translation
The Group's functional and presentational currency is £ Sterling. 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. Exchange gains and losses are recognised in the Statement of Comprehensive Income.
| 2.10 | Finance costs
Finance costs are charged to the Consolidated Statement of Comprehensive Income 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.
| 2.11 | 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.
| 2.12 | Operating leases: the Group as lessee
Rentals paid under operating leases are charged to the Consolidated statement of comprehensive income on a straight line basis over the lease term. Page 25
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.13 | 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 Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.
| 2.14 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.15 | 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 26
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.16 | 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 reporting date in the countries where the Company and the Group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires the directors to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities, income, and expenses. Actual results may differ from these estimates. One of the critical areas where judgements and estimates have been applied is the valuation of freehold property. Valuation of Freehold Property: The freehold property is measured at fair value in accordance with the requirements of FRS 102. An external valuation expert was engaged to determine the fair value at the reporting date. The valuation involves significant assumptions and judgements, including market conditions, rental yields, and comparable property transactions, which are inherently subject to estimation uncertainty. Changes in these assumptions may significantly affect the reported fair value of the property. Page 27
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Turnover
Analysis of turnover by country of destination:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| United Kingdom | 17,917,986 | 12,201,818
| Rest of Europe | 4,345,061 | 2,405,048
| Rest of the world | 28,830,855 | 26,000,612
|  | 51,093,902 | 40,607,478
5. | Other operating income
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other operating income | 1,092 | -
| Ground rent receivable | - | 27,355
| Sundry income | 33,824 | -
6. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets | 53,980 | 73,282
| Exchange differences | (6,512) | 265,557
| Other operating lease rentals | 39,863 | 50,042
| Defined contribution pension cost | 80,824 | 123,913
7. | Auditors' remuneration
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Fees payable to the Group's auditor and its associates for the audit of the Group's annual accounts | 58,455 | 67,181
Page 28
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Employees
| Staff costs, including Directors' remuneration, were as follows:
|  | Group | Group
|  | 2024 | 2023
|  | £ | £
| Wages and salaries | 4,811,633 | 4,423,265
| Social security costs | 337,034 | 295,697
| Cost of defined contribution scheme | 80,824 | 123,914
| The average monthly number of employees, including the Directors, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | Sales, administration and support | 95 | 88
9. | Directors' and key management remuneration
| Key management is made up solely of the Directors and compensation paid to them during the year totalled £1,078,373 (2023 - £827,412)
10. | Interest receivable
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other interest receivable | 485 | 2,228
11. | Interest payable and similar expenses
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other loan interest payable | 4 | -
| Other interest payable | 9,045 | 5,446
Page 29
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
12. | Taxation
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 410,991 | 166,882
| Deferred tax |  |
| Origination and reversal of timing differences | 28,734 | 455,979
| Tax on profit | 439,725 | 622,861
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 23.52%). The differences are explained below:
|  |  |  |  |  | As restated
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 971,590 | 3,000,601
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.52%) | 242,898 | 705,741
| Non-tax deductible amortisation of goodwill and impairment | 367 | 734
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 11,845 | (256,725)
| Capital allowances for year in excess of depreciation | 4,589 | 14,020
| Other timing differences leading to an increase (decrease) in taxation | 28,734 | 455,979
| Non-taxable income | - | (59,517)
| Book profit on non-taxable share issues | - | 4,367
| Unrelieved tax losses carried forward | (8,651) | 10,710
| Other differences leading to an increase (decrease) in the tax charge | 166,207 | (156,367)
| Differences in rates of corporation tax | (6,264) | (96,081)
| Total tax charge for the year | 439,725 | 622,861
| Factors that may affect future tax charges
At the balance sheet date the company has estimated tax losses of £9,004 (2023 - £5,884) available to carry forward against future taxable profits. Page 30
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
13. | Dividends
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Dividends | - | 2,223,579
14. | 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 £3,120 (2023 - profit £2,196,539).
15. | Intangible assets
| Group and Company
|  | Goodwill
|  | £
| Cost |
| At 1 January 2024 | 88,619
| At 31 December 2024 | 88,619
| Amortisation |
| At 1 January 2024 | 77,034
| Charge for the year on owned assets | 1,931
| At 31 December 2024 | 78,965
| Net book value |
| At 31 December 2024 | 9,654
| At 31 December 2023 | 11,585
Page 31
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
16. | Tangible fixed assets
| Group
|  | Freehold property | Plant and machinery | Fixtures and fittings | Office equipment | Computer equipment
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2024 | 8,100,000 | 112,736 | 201,927 | 19,765 | 123,011
| Additions | - | - | 16,231 | 6,193 | 13,094
| Revaluations | 110,000 | - | - | - | -
| At 31 December 2024 | 8,210,000 | 112,736 | 218,158 | 25,958 | 136,105
| Depreciation |  |  |  |  |
| At 1 January 2024 | - | 39,568 | 82,071 | 14,079 | 104,928
| Charge for the year on owned assets | - | 18,292 | 18,393 | 4,502 | 12,794
| At 31 December 2024 | - | 57,860 | 100,464 | 18,581 | 117,722
| Net book value |  |  |  |  |
| At 31 December 2024 | 8,210,000 | 54,876 | 117,694 | 7,377 | 18,383
| At 31 December 2023 | 8,100,000 | 73,168 | 119,856 | 5,686 | 18,083
Page 32
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16.Tangible fixed assets (continued)
|  | Total
|  | £
| Cost or valuation |
| At 1 January 2024 | 8,557,439
| Additions | 35,518
| Revaluations | 110,000
| At 31 December 2024 | 8,702,957
| Depreciation |
| At 1 January 2024 | 240,646
| Charge for the year on owned assets | 53,981
| At 31 December 2024 | 294,627
| Net book value |
| At 31 December 2024 | 8,408,330
| At 31 December 2023 | 8,316,793
Page 33
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
17. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 529,165
| At 31 December 2024 | 529,165
| Net book value |
| At 31 December 2024 | 529,165
| At 31 December 2023 | 529,165
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Principal activity | Class of shares | Holding
| Hecny Forwarding Limited | United Kingdom | Freight forwarder | Ordinary | 100%
| Hecny Logistics Limited | United Kingdom | Freight forwarder | Ordinary | 51%
| Hecny Properties Limited | United Kingdom | Holding investment property | Ordinary | 100%
| Global Forwarding Trucking Limited | United Kingdom | Trucking services | Ordinary | 85%
| The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
| Name | Aggregate of share capital and reserves | Profit/(Loss)
|  | £ | £
| Hecny Forwarding Limited | 1,500,929 | 270,228
| Hecny Logistics Limited | 171,244 | 202,325
| Hecny Properties Limited | 1,961,665 | 77,940
| Global Forwarding Trucking Limited | (17,172) | (13,595)
Page 34
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
18. | Debtors
|  | Group | Group | Company | Company
|  | 2024 | 2023 | 2024 | 2023
|  | £ | £ | £ | £
| Due after more than one year |  |  |  |
| Other debtors | 12,295 | 47,102 | - | -
|  | Group | Group As restated | Company | Company As restated
|  | 2024 | 2023 | 2024 | 2023
|  | £ | £ | £ | £
| Due within one year |  |  |  |
| Trade debtors | 6,185,858 | 4,921,665 | - | -
| Amounts owed by group undertakings | 232,280 | 195,402 | 419,715 | 2,189,730
| Other debtors | 245,857 | 218,828 | - | -
| Called up share capital not paid | 100 | 100 | - | -
| Prepayments and accrued income | 4,986,427 | 4,249,204 | - | -
|  | 11,650,522 | 9,585,199 | 419,715 | 2,189,730
19. | Creditors: Amounts falling due within one year
|  | Group | Group As restated | Company | Company As restated
|  | 2024 | 2023 | 2024 | 2023
|  | £ | £ | £ | £
| Trade creditors | 4,276,874 | 3,028,498 | - | -
| Amounts owed to group undertakings | 11,790,628 | 11,354,309 | 215,283 | 1,982,181
| Other taxation and social security | 392,289 | 121,516 | - | -
| Other creditors | 473,552 | 499,308 | 220,246 | 220,242
| Accruals and deferred income | 3,632,901 | 3,359,878 | 3,034 | 3,034
|  | 20,566,244 | 18,363,509 | 438,563 | 2,205,457
Page 35
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
20. | Deferred taxation
| Group
|  | 2024
|  | £
| At beginning of year | (647,995)
| Charged to profit or loss | (28,734)
| At end of year | (676,729)
| Company
|  | 2024
| At end of year | -
| The provision for deferred taxation is made up as follows:
|  | Group | Group
|  | 2024 | 2023
|  | £ | £
| Accelerated capital allowances | (16,389) | (15,155)
| Fair value gain on investment | (660,340) | (632,840)
|  | (676,729) | (647,995)
21. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 126 (2023 - 126) Hecny Ordinary shares of £1 each | 126 | 126
|  | 14 (2023 - 14) Roydon Ordinary shares of £1 each | 14 | 14
|  |  | 140 | 140
Page 36
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
22. | Reserves
Revaluation reserve Revaluation reserve is a non distributable reserve. Profit and loss account The profit and loss reserve contains the cumulative balance of retained profit and losses since the company started trading. It is a distributable reserve.
23. | Prior year adjustment
A prior year adjustment has been recorded for the year ended 31 December 2023 to account for handling fees that were omitted from the 2022 and 2023 accounts. The comparative figures for the year ended 31 December 2023 have been restated to correct this error. As a result, amounts owed to group undertakings at 31 December 2023 have decreased by £664,827 and retained earnings have increased by £664,827. The adjustment has been reflected as an increase to opening reserves as at 1 January 2024 of £664,827. Profit for the year ended 31 December 2023 has increased by £664,827.
24. | Contingent liabilities
An entity with the Group acts as a customs agent for overseas importers and does not take title to the goods. HM Revenue & Customs (HMRC) is disputing the valuation of certain goods declared for import and is seeking to apply joint and several liability provisions to the entity for alleged underpayments of customs duty and import VAT. The entity is contesting HMRC’s position and has lodged appeals. Resolution is subject to ongoing litigation and no court decision has been made as at the reporting date. Based on management’s assessment, supported by external professional advice, the maximum potential exposure is estimated at approximately £469,000. The ultimate outcome and timing are uncertain. No provision has been recognised in the financial statements.
25. | Pension commitments
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £80,824 (2023 - £123,914). Page 37
VIA GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
26. | Commitments under operating leases
| At 31 December 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 | 68,656 | 36,926
| Later than 1 year and not later than 5 years | 45,428 | 34,685
|  | 114,084 | 71,611
27. | Related party transactions
| Group At the balance sheet date, the Group owed £11,685,173 (2023 - £11,260,991) to the parent Company, Hecny Transportation Ltd (Hong Kong) and its subsidiaries, and was owed £126,980 (2023 - £102,242) from Via Global Forwarding Ireland Limited, a company under common control. During the year the Group made sales of £737,842 (2023 - £910,951), purchases of £9,284,428 (2023 - £9,231,230) and had interest payable of £391,746 (2023- £382,990) to non-100% entities under common control. Included within Group Other Creditors is a balance of £171,331 (2023 - £171,331) representing a balance owed to an entity that has a material shareholding in one of the Group entities. Also included in Group Other Creditors is a balance of £215,840 (2023: £227,804) owed to a director. These amounts are interest free and payable demand. Company Included within amounts due to group undertakings is £215,283 (2023 - £1,982,181) due to the parent company, Hecny Transportation Ltd (Hong Kong). Included in Other Creditors is a balance of £215,840 (2023: £227,804) owed to a director. These amounts are interest free and payable on demand. The Company and the Group has taken advantage of the exemptions conferred by Section 33 of Financial Reporting Standard 102 from the requirement to not make disclosures concerning transactions with other wholly group companies.
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