Company Registration No. 04636376 (England and Wales)
WORLDWIDE BOOK SERVICES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
WORLDWIDE BOOK SERVICES LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Statement of cash flows
3
Notes to the financial statements
4 - 16
WORLDWIDE BOOK SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
Non-current assets
Property, plant and equipment
4
344,543
264,777
Current assets
Trade and other receivables
5
1,612,724
1,856,881
Cash and cash equivalents
992,451
733,446
2,605,175
2,590,327
Current liabilities
Trade and other payables
7
686,668
863,197
Current tax liabilities
114,347
6,619
Lease liabilities
8
69,747
61,601
870,762
931,417
Net current assets
1,734,413
1,658,910
Non-current liabilities
Trade and other payables
7
34,797
69,593
Lease liabilities
8
109,122
63,994
Deferred tax liabilities
9
39,040
35,967
182,959
169,554
Net assets
1,895,997
1,754,133
Equity
Called up share capital
11
100
100
Retained earnings
1,895,897
1,754,033
Total equity
1,895,997
1,754,133

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.

The financial statements were approved by the board of directors and authorised for issue on 13 August 2026 and are signed on its behalf by:
Mr J P Stubbings
Director
Company registration number 04636376 (England and Wales)
WORLDWIDE BOOK SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 January 2024
100
1,815,303
1,815,403
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
58,730
58,730
Transactions with owners in their capacity as owners:
Dividends
3
-
(120,000)
(120,000)
Balance at 31 December 2024
100
1,754,033
1,754,133
Year ended 31 December 2025:
Profit and total comprehensive income for the year
-
341,864
341,864
Transactions with owners in their capacity as owners:
Dividends
3
-
(200,000)
(200,000)
Balance at 31 December 2025
100
1,895,897
1,895,997
WORLDWIDE BOOK SERVICES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
662,462
317,583
Interest paid
(15,079)
(10,733)
Income taxes paid
(1,181)
(145,027)
Net cash inflow from operating activities
646,202
161,823
Investing activities
Purchase of property, plant and equipment
(240,558)
(107,119)
Interest received
87
(765)
Net cash used in investing activities
(240,471)
(107,884)
Financing activities
Movements in lease liabilities
53,274
(58,851)
Dividends paid
(200,000)
(120,000)
Net cash used in financing activities
(146,726)
(178,851)
Net increase/(decrease) in cash and cash equivalents
259,005
(124,912)
Cash and cash equivalents at beginning of year
733,446
858,358
Cash and cash equivalents at end of year
992,451
733,446
WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
1
Accounting policies
Company information

Worldwide Book Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Arlington House, West Station Business Park, Spital Road, Maldon, Essex, CM9 6FF. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Basis of preparation

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with the requirements of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.

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 financial statements contain information about Worldwide Book Services Limited as an individual company and do not contain consolidated financial information.

1.2
Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the true company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The company recognises revenue when it transfers control of a product or service to a customer.

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.

The company recognises revenue from the following major sources:

- Book consolidation and delivery services

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Book consolidation and delivery services

Performance obligations are satisfied once books are loaded for shipment.

1.4
Intangible assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.5
Property, plant and equipment

Property, plant and equipment 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:

Leasehold land and buildings
over term of lease
Fixtures and fittings
15% reducing balance
Plant and equipment
25% reducing balance
Computers
33% reducing balance
Right of use assets
25% reducing balance

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 recognised in the income statement.

1.6
Impairment of tangible and intangible assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents 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.

1.8
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
Financial assets at fair value through profit or loss

When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Financial assets at fair value through other comprehensive income

Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.

The company has made an irrevocable election to recognize changes in fair value of investments in equity instruments through other comprehensive income, not through profit or loss. A gain or loss from fair value changes will be shown in other comprehensive income and will not be reclassified subsequently to profit or loss. Equity instruments measured at fair value through other comprehensive income are recognized initially at fair value plus transaction cost directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognized through other comprehensive income are directly transferred to retained earnings when the equity instrument is derecognized or its fair value substantially decreased. Dividends are recognized as finance income in profit or loss.

Impairment of financial assets

Financial assets carried at amortised cost and FVOCI are assessed for indicators of impairment at each reporting end date.

The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

For trade receivables, the simplified approach permitted by IFRS 9 is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 7 -
1.9
Financial liabilities

The company recogni s es financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, t rade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.10
Equity instruments

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

1.11
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary 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 income statement, 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.

WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 8 -
1.12
Employee benefits

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 inventories or non-current 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.

1.13
Retirement benefits

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

1.14
Leases
As lessee

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.

The right-of-use asset is subsequently adjusted for remeasurements of the lease liability and applies the relevant cost model, fair value model or revaluation model as set out within the accounting policies for the applicable asset class. Where the cost model is applied, the asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term, and is periodically reduced by impairment losses, if any.

The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.

The lease liability is measured at amortised cost using the effective interest method. It is re assessed at each financial period end to reflect lease modifications and any changes to the factors considered at initial measurement, as set out above. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 9 -
1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2025
2024
Number
Number
52
41
3
Dividends
2025
2024
2025
2024
Amounts recognised as distributions:
per share
per share
Total
Total
£
£
£
£
Ordinary shares
Interim dividend paid
2,000.00
1,200.00
200,000
120,000
4
Property, plant and equipment
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Right of use assets
Total
£
£
£
£
£
£
Cost
At 1 January 2024
88,634
194,119
55,797
327,298
245,785
911,633
Additions
-
0
79,995
1,118
26,006
-
0
107,119
At 31 December 2024
88,634
274,114
56,915
353,304
245,785
1,018,752
Additions
-
0
15,555
35,381
35,970
153,652
240,558
At 31 December 2025
88,634
289,669
92,296
389,274
399,437
1,259,310
Accumulated depreciation and impairment
At 1 January 2024
50,320
187,212
34,664
293,007
64,574
629,777
Charge for the year
15,957
19,273
3,877
24,786
60,305
124,198
At 31 December 2024
66,277
206,485
38,541
317,793
124,879
753,975
Charge for the year
15,957
25,796
8,730
24,135
86,174
160,792
At 31 December 2025
82,234
232,281
47,271
341,928
211,053
914,767
WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
4
Property, plant and equipment
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Right of use assets
Total
£
£
£
£
£
£
(Continued)
- 10 -
Carrying amount
At 31 December 2025
6,400
57,388
45,025
47,346
188,384
344,543
At 31 December 2024
22,357
67,629
18,374
35,511
120,906
264,777

Property, plant and equipment includes right-of-use assets, as follows:

Right-of-use assets
2025
2024
£
£
Net values at the year end
Plant and equipment
44,509
25,289
Motor vehicles
143,875
95,617
188,384
120,906
Total additions in the year
153,652
-
Depreciation charge for the year
Plant and equipment
35,065
9,196
Motor vehicles
51,109
51,109
86,174
60,305
5
Trade and other receivables
2025
2024
£
£
Trade receivables
632,991
768,754
Provision for bad and doubtful debts
-
0
(19,219)
632,991
749,535
Amount owed by parent undertaking
786,630
967,898
Amounts owed by fellow group undertakings
131,259
89,036
Prepayments
61,844
50,412
1,612,724
1,856,881
WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
6
Trade receivables - credit risk
Fair value of trade receivables

The directors consider that the carrying amount of trade and other receivables differs from fair value as follows:

Carrying value
Fair value
2025
2024
2025
2024
£
£
£
£
Trade receivables net of allowances
632,991
749,535
632,991
749,536
Prepayments
61,844
50,412
61,844
50,412
694,835
799,947
694,835
799,948

No significant receivable balances are impaired at the reporting end date.

Movement in the allowances for impairment of trade receivables
2025
2024
£
£
Balance at 1 January 2025 and at 31 December 2025
-
19,219
7
Trade and other payables
Current
Non-current
2025
2024
2025
2024
£
£
£
£
Trade payables
396,317
481,841
-
0
-
0
Amounts owed to fellow group undertakings
39,738
13,183
-
-
Accruals
140,025
273,252
-
0
-
0
Social security and other taxation
64,641
50,849
-
0
-
0
Other payables
45,947
44,072
34,797
69,593
686,668
863,197
34,797
69,593
8
Lease liabilities
2025
2024
Net amounts due
£
£
Within one year
69,747
61,601
After more than one year
109,122
63,994
178,869
125,595
WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Lease liabilities
(Continued)
- 12 -
2025
2024
Maturity analysis of future lease payments
£
£
Within one year
69,747
61,601
In two to five years
109,122
63,994
Total undiscounted liabilities
178,869
125,595
Other leasing information is included in note 12.
9
Deferred taxation
Liabilities
2025
2024
£
£
Deferred tax balances
39,040
35,967

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

ACAs
£
Liability at 1 January 2024
24,854
Deferred tax movements in prior year
Charge/(credit) to profit or loss
11,113
Liability at 1 January 2025
35,967
Deferred tax movements in current year
Charge/(credit) to profit or loss
3,073
Liability at 31 December 2025
39,040
10
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
69,511
212,534

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.

WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
11
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
12
Other leasing information
As lessee
2025
2024
Amounts recognised in profit or loss:
£
£
Expense relating to short-term leases
278,632
250,647
Information relating to lease liabilities is included in note 8.
13
Capital risk management

The company is not subject to any externally imposed capital requirements.

WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
14
Related party transactions

Woodland Global Ltd

The amount owed to Woodland Global Ltd at 31st December 2025 was £5,730 and the amount owed from Woodland Global Ltd was £35,521

Transactions with Woodland Global Ltd during the year were sales totaling £159,782 and purchases totaling £64,462.

Woodland Group Limited

T he amount owed from Woodland Group Ltd at 31st December 202 5 was £22,879

Transactions with Woodland Group Limited during the year were sales totaling £987 and purchases totaling £79,879.

Woodland International Transport Incorporated

The amount owed to Woodland International Transport Incorporated at 31st December 2025 was £20,889 and the amount owed from Woodland International Transport Incorporated was £60,703

Transactions with Woodland International Transport Incorporated during the year were purchases totaling £221,908 and sales totaling £237,844.

TBK Holdings Limited

No trading amounts were owed at the year end.

Transactions with TBK Holdings Limited during the year were purchases of £1,000.

At the year end, £767,134 (2024: £966,134) was due from the parent undertaking in respect of an intercompany loan. The loan is unsecured, interest free and repayable on demand.

Woodland Entertainment Limited

The amount owed from Woodland Entertainment Ltd at 31st December 2025 was £6,037

Sales of £52,776 were made in the year.

WBS Nordic Ab

T he amount owed from WBS Nordic Ab at 31st December 202 5 was £100,833 and the amount owed to WBS Nordic Ab was £45,216

Transactions with Woodland Global Ltd during the year were sales totaling £445,630 and purchases totaling £300,391.

Intelclear

The amount owed to Intelclear at 31st December 2025 was £22,879

Purchases of £276,861 and sales of £482 were made in the year.

Hupsoo Ltd

No amounts were owed at the year end.

Purchases of £18,650 were made in the year.

FIPL Limited

No amounts were owed at the year end.

Purchases of £18,744 were made in the year.

The above transactions with the related parties were all undertaken at arms length on normal commercial terms.

WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
15
Controlling party

The ultimate parent company is Woodland Group Holdings Limited, Registered office: Arlington House, West Station Business Park, Spital Road, Maldon, England, CM9 6FF.

A copy of the consolidated financial statements is available from Companies House.

The immediate parent company is TBK Holdings Limited.

16
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
234,622
216,508
Company pension contributions to defined contribution schemes
44,642
192,642
279,264
409,150
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
101,781
103,359
Company pension contributions to defined contribution schemes
43,321
191,321
17
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with UK adopted international accounting standards; and

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

Senior Statutory Auditor:
Adam Cohen BA FCA
Statutory Auditor:
Maynard Heady LLP
Date of audit report:
13 August 2026
WORLDWIDE BOOK SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
18
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
733,446
259,005
992,451
Lease liabilities
(125,595)
(53,274)
(178,869)
607,851
205,731
813,582
1 January 2024
Cash flows
31 December 2024
Prior year:
£
£
£
Cash at bank and in hand
858,358
(124,912)
733,446
Lease liabilities
(184,446)
58,851
(125,595)
673,912
(66,061)
607,851
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