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

The Company delivers courier services to e-commerce businesses and logistics companies in the UK. It has built a reputation for efficiency and being able to meet the challenging demands of peak trading for its customers. This deserved reputation leaves the business well placed to continue to benefit from the continued growth of the wider e-commerce sector.

The principal risks faced by the Company are those associated with a business operating internationally in the courier services industry.

Market Risk

Loss of key clients and associated revenue. One Motion's customers are predominantly blue-chip companies with a very solid financial situation. We continue to maintain and develop a strong relationship with them, strengthened by a track record of delivering a quality service to these customers.

The threat of competitors and new market entrants. There is always a risk of new entrants to the sector, however the directors believe the business is well placed to manage this risk thanks to its strong reputation with clients for delivering a best in class service.

Our business is sensitive to changes in the prices of new and used vehicles, and we continue to sell any reconditioned inventory expeditiously and efficiently.

Credit Risk

The Company continues to evaluate its accounts receivable for potential collection risk and has made

provisions for amounts where collection is considered to be doubtful and takes appropriate steps

to recover amounts due.

IT Risk

The business relies on robustness of its systems and we mitigate the risk of this by performing regular testing of hardware, software and recovery programmes. We protect against IT systems failure, and potential business interruption caused by this, by investing in robust IT systems and undertaking frequent review of these for efficiency and resilience. We will continue to invest in upgraded cyber security systems and implementing and reviewing effective security protocols.

The directors believe the Company is well placed to continue its growth within the UK, through executing its strategy of increasing its market share with existing customers, winning new customers and entering new markets.

The Company delivered a loss before tax for the year of £2,697,370 (2023: profit before tax of £11,908,116). Revenue fell by 21% to £47,998,494 from £61,146,401 in the year to 31 December 2024. The Company ended the year with net assets of £11,799,455 and cash of £1,590,247. This financial position and performance therefore represents a significant downturn in trading results, reflecting both reduced activity levels and tightening margins, and highlights the need for continued careful cost control and strategic focus to restore profitability. The GP margins decreased slightly to 23% in the current year from 26% in 2023.

KPIs are considered necessary for an understanding of the development, performance or position of the Company's business. Financial KPI's have been identified as turnover and gross margins, and are discussed in the strategic review above.

The Directors, in line with their duties under s172 of the Companies Act 2006, act in a way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole. The Company's key stakeholders (aside from its members) are its employees, customers, contractors and finance providers, all of which are considered when forming the Company's commercial strategy.

In doing this the Board meets regularly with senior management of the Company and other relevant stakeholders and receives and evaluate reports on the company's performance and strategies. Factors (a) to (e) below, are all taken into account during the decision-making process.

(a) The likely consequences of any decision in the long term - The Board carefully evaluates any significant decisions which are likely to have long term impacts by consulting with management and relevant stakeholders, relying on detailed analysis and considering industry and wider trends.

(b) The interests of the Company's employees and contractors - Employee and contractor interests are considered as part of the decision-making process through open lines of communications between personnel and the management team. Management are encouraged, to ensure any issues are promptly identified and addressed. The Senior Management team regularly update the Directors on staff performance.

(c) The need to foster the Company's business relationships with suppliers, finance providers, customers and others - The Directors have identified the key stakeholders (employees, customers, contractors and finance providers) of the Company and regularly reviews their interests, concerns and expectations to ensure adequate communication and engagement is ongoing with each Company.

(d) The desirability of the Company maintaining a reputation for high standards of business conduct - The Directors are committed to high standards of business conduct and governance. Where there is a need to seek advice on a particular issue, the Board will work with its lawyers and other advisors to ensure the consideration of business conduct, and the Company's reputation is maintained.

(e) The impact of the company’s operations on the community and the environment - The Directors recognise the importance of the communities it operates in, and the need to make a positive impact on the environment. There is a commitment to ensuring that the theme of responsible and sustainable work practices are adopted throughout the Company. This includes utilising sustainable facilities, sustainable materials, and recycling waste through third party companies that have green policies. There is continuous use and adoption of progressive technology that optimises our business. We actively encourage all our employees to give back to their communities in whichever way they feel most comfortable. This ranges from the ability to give to chosen charities, and having flexible work policies enables them to give their time to volunteer where needed.

On behalf of the board

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

The principal activity of the company continued to be that of courier services to e-commerce businesses and logistics companies, as well as the sale of vehicles.

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The company is a logistics company and carbon emissions are primarily generated from vehicle mileage. We account for all emissions from our fleet vehicles. The below table and supporting narrative summarise the Streamlined Energy and Carbon Reporting (SECR) disclosure in requirements for a large company, as per the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

Emissions by scope for the year ended 31 December 2024.

The Company's total energy use for 2024 was 39,959 KWh (2023: 33,197KWh). This represents total energy usage in premises or locations where the Company are the sole occupier. We are unable to report on energy usage in locations where there is shared occupancy and Energy usage with other persons or business'.

UK Intensity ratio: 3,901 Tonnes CO2e / £47,998,494 revenue = 81.2Tonnes CO2 per £1m of revenue, (2023 restated: 4,446 Tonnes CO2e / £61,146,401 revenue = 72.7Tonnes CO2 per £1m of revenue).

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

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

• select suitable accounting policies and then apply them consistently;

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

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

We have audited the financial statements of One Motion Logistics Ltd (the 'company') for the year ended 31 December 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the 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 strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the 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, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

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

As explained more fully in the directors' responsibilities statement, 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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 auditor's 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 financial statements.

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 company through discussions with directors and other management, and from our knowledge and experience;

• 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 company;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where applicable; 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 company'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; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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;

• enquiring of management as to actual and potential litigation and claims;

• reviewing relevant correspondence.

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 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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in 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.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

One Motion Logistics Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 11c Park House, Milton Park, Abingdon, Oxfordshire, OX14 4RS.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has not prepared group accounts as its subsidiaries are both dormant and immaterial.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources 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.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover for courier services is recognised when the relevant services have been provided. Turnover from vehicle hire and insurance is recognised straight line over the period of hire or insurance agreement.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from sale of vehicles is recognised when the title of the vehicle has passed to the customer.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Fixed asset vehicles are carried at cost, including incidental costs and less straight line depreciation to their residual values. The residual values are based on the buy-back value per vehicle type contractually agreed with suppliers. If no buy-back values have been agreed, the residual value is based on the expected fair value. Write-downs for impairment are recognised to the extent that indications for impairment are given.

Stocks consist of vehicles purchased, direct and indirect vehicle reconditioning costs, including parts and labour and inbound transportation costs with an expected holding period of less than one year. The intention of management on purchase of the asset is the key criteria used to determine whether the asset is a current asset or to be held for a longer period, i.e. fixed assets. Inventories are stated at the lower of cost or net realisable value. The costs of inventory are determined by price paid and directly attributable costs. Net realisable value is the estimated selling price less costs to complete and transport the vehicles. Selling prices are derived from historical data and trends, such as sales price of similar vehicles, as well as independent market data. Each reporting period the Company recognises any necessary adjustments to reflect vehicle inventory at the lower of cost or realisable value through profit and loss. Where stock vehicles remain for longer than the holding period, or have been determined to have had a change in use, they will be transferred to the fixed asset register. This is determined by management annually, or as when deemed necessary.

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

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Impairment of debtors

The company makes an estimate of the recoverable value of trade, intercompany, and other debtors. When assessing impairment of debtors, management considers factors including the current credit rating of the debtors, ageing profile of debtors and historical experience.

Amounts owed from group undertakings

The company makes an estimate of the recoverable value of amounts owed from group undertakings. Where the relevant group undertaking has net assets and liquid funds less than the amount owed to the company, consideration is given to expected future performance and whether the present value of future cash flows indicates the balance will be recoverable in future periods.

Accrual for van damage

The company makes an estimate of the van damage incurred over the peak period and this is accrued at year end in anticipation of the hire companies sending out their bills post year end. Consideration is given to the number of vehicles on hire, as well as an average charged per van on damage in the previous period.

Residual values of fixed assets

The residual values are based on buy-back value per vehicle type contractually agreed with the suppliers. If no buy back values have been agreed, the residual value is based on the expected fair value. Write-downs for impairment are recognised to the extend that indications for impairment are identified.

Classification of vehicles within stock

The company controls as significant fleet of vehicles which it has acquired through various arrangements primarily for its transport and logistics operations. The classification of assets within tangible fixed assets or stock required judgement in the application of the circumstances of asset ownership. Stock Fleet vehicles are recognised as current assets as the expected holding period for the fleet is less than one year.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

More information on impairment movements in the year is given in note 12.

The net carrying value of assets held under finance lease for the company is £21,746,073 (2023: £22,253,762)

Details of the company's subsidiaries at 31 December 2024 are as follows:

Registered office addresses (all UK unless otherwise indicated):

One Motion Logistics Italia S.R.L. and One Motion Logistics Inc. did not trade during the period and therefore consolidated accounts have not been prepared on the basis that the subsidiaries are immaterial.

Included in long term other debtors is proceeds receivable of £6,900,000 from a connected company, loaned at a rate of 0% and due for repayment after five years.

The proceeds have been discounted to present value of £5,262,155 using a market rate of interest of 6.15%, with a corresponding capital contribution recognised in reserves. This balance will be amortised via the effective interest method % over the anticipated five year loan term.

Borrowings relate to the company's financed insurance policy. Interest is charged on premiums financed and included above.

Finance lease payments represent rentals payable by the company for motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 2.5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. Obligations under finance leases are secured on the assets concerned.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The deferred tax liability set out above is expected to reverse within 5 years and relates to the net position of combined accelerated capital allowances as well as utilisation of tax losses that are expected to mature within the same period.

Following the loss of control of One Motion Germany GmbH in 2022, the company previously recognised a provision for potential outflows of £1,000,000 associated with the German company administration.

However, after seeking further legal advice the company is of the opinion that the administration judgement will be in the favour of the company, and not result in a claim being lodged against the group. It is not practical to estimate the potential effect, but legal advice indicates that it is not probable that a liability will arise. The potential undiscounted amount of the total payments that the group could be required to make, if there was an adverse decision related to the loss of control, is estimated to not exceed amounts previously provided for.

There has been no change to this in the year ended 31 December 2024.

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

Included in the balance sheet are unpaid pension contributions of £6,962 (2023: £6,915 ).

In 2023, it was resolved that 1 A share with a total nominal value of £1 was to be subdivided and partially redesignated as B shares.

Of a total 1,000 shares following subdivision, 498 were designated as B shares with a nominal value of 49.8p.

Total A shares remain with a nominal value of 50.2p.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

During the year the company entered into the following transactions with related parties which are deemed connected by common ownership:

CDB Autos Limited

During the year trade sales amounted to £431,150 (2023: £453,550). Trade purchases amounted to £728,853 (2023: £1,125,246).

Amounts due from the related party at the balance sheet date £633,044 (2023: £409,180)

Network Fleet Limited

During the year trade sales amounted to £2,823,254 (2023: £5,602,918).

Amounts due from the related party at the balance sheet date £1,120,358 (2023: £893,812)

Network Vehicle Hire Limited

During the year trade sales amounted to £1,701,288 (2023: £1,427,316). Trade purchases amounted to Nil (2023: £2,120).

Amounts due from the related party at the balance sheet date £407,396 (2023: £166,594).

One Motion Logistics Iberia, S.L.

During the year trade sales amounted to £55,285 (2023: Nil).

Amounts due from the related party at the balance sheet date £74,479 (2023: £19,330).

R & R Design and Build Limited

Loan repayments of £15,500 were made in the year (2023: £4.000).

Interest was charged of £35,012 (2023: £38,567).

Amounts due from the related party at the balance sheet date £340,568 (2023: £321,057). Provision for doubtful debt has been made against this balance at £33,680 as at the balance sheet date.

Rentflex

During the year the company incurred accounting costs on behalf of the related party totalling £1,675 (2023: Nil)

Amounts due from the related party at the balance sheet date £5,815 (2023: £4,140)

Oxford Cosmetics Limited

No transactions during the year (2023: Nil).

Amounts due from the related party at the balance sheet date £Nil (2023: £320). During the year the directors deemed the brought forward balance of £320 was irrecoverable and as such this was written off.

One Motion Auto Services Limited

During the year the company incurred accounting costs on behalf of the related party totalling £2,520 (2023: Nil)

Amounts due from the related party at the balance sheet date £139,661 (2023: £137,140). Full provision for doubtful debt has been made against this balance as at the balance sheet date.

Newstone Investments (ES) Limited

During the year the company advanced a £250,000 loan to the related party at a fixed interest rate of 7.32% per annum which accrues daily and is expected to mature by 31 July 2026.

Amounts due from the related party at the balance sheet date £257,019 (2023: Nil).

OMLRH (UK) Limited

During the year the company incurred stamp duty and outsourcing costs on behalf of the related party totalling £1,775 (2023: Nil).

Amounts due from the related party at the balance sheet date £1,775 (2023: Nil).

OMLRPS (UK) Limited

During the year the company incurred stamp duty and outsourcing costs on behalf of the related party totalling £1,775 (2023: Nil).

Amounts due from the related party at the balance sheet date £1,775 (2023: Nil).

One Motion (ES) Limited

No transactions during the year (2023: £6,900,000 proceeds receivable).

During the year ended 31 December 2023 the company disposed of its wholly owned subsidiary to One Motion (ES) Limited for proceeds of £6,900,000.

Amounts due from the related party at the balance sheet date £6,900,000 (2023: £6,900,000).

The proceeds receivable of £6,900,000 have been discounted to present value of proceeds receivable which as at 31 December 2024, totalled £5,262,155.

One Motion Express S.L.

No transactions during the year (2023: Nil)

Amounts due from the related party at the balance sheet date £2,600 (2023: £2,600).

Payments totalling £200,000 (2023: £200,000) were made to close family members of R Hershey and R Simmonds. No amounts remain outstanding at year end.

Dividends

Dividends totalling £0 (2023 - £1,507,750) were paid in the year in respect of shares held by the company's directors.

The balances have been cleared post year end through cash and dividend payments related to the post year end Employee Ownership Trust restructure.

The ultimate controlling parties are Mr R P Simmonds and Mr R Hershey.

In November 2025, the company entered into an agreement to transfer 100% of its issued share capital to an Employee Ownership Trust (OML EOT) established for the benefit of the company’s employees.

An initial payment of £500,000 was made in relation to the purchase of the shares. The remaining amount paid for the acquisition is to be satisfied as deferred consideration through future profits.

As the transaction occurred after the reporting date of 31 December 2024 and does not relate to conditions existing at that date, it is treated as a non adjusting event under FRS 102. No adjustments have been made to the financial statements for the year ended 31 December 2024 as a result of this event.

Following the transfer of share capital in November 2025, the directors consider OML EOT to be the ultimate controlling party of the company