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Registered number:
FOR THE YEAR ENDED 31 MARCH 2026
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SKYNET WORLDWIDE EXPRESS LIMITED
CONTENTS
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SKYNET WORLDWIDE EXPRESS LIMITED
COMPANY INFORMATION
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SKYNET WORLDWIDE EXPRESS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present their strategic report for the year ended 31 March 2026.
SkyNet Worldwide Express Limited operates as part of the global SkyNet network, providing international express courier and logistics solutions to business and retail customers. The Company's primary focus is on exports, servicing markets across Europe, the Middle East, Africa and the APAC region.
During FY2026, the business faced a highly challenging trading environment, marked by significant shifts in global logistics dynamics and weakened domestic demand. The company achieved a loss before tax of £356,689 (2025: £1,768,593) for the year. The financial position at year end showed net assets of £8,048,240 (2025: £8,404,964). Market and Operating Environment SkyNet's performance during FY2026 was affected by a convergence of external factors. Constrained availability of air freight capacity was a significant feature of the year, with fewer scheduled flights and reduced belly-hold space on key export lanes limiting options and putting upward pressure on carriage costs. Recent geopolitical instability in the Middle East added a further layer of uncertainty over routings and capacity toward the end of the year, although this did not have a material impact on the Company's performance. In parallel, continued political uncertainty in the UK, together with the ongoing cost-of-living crisis, weighed on consumer confidence and discretionary spending, resulting in softer order volumes and reduced export activity from many e-commerce exporters, the Company's core customer base. The most significant shift in the market came from the rapid expansion of ultra-low-cost online platforms such as SHEIN and TEMU, which has transformed the apparel and e-commerce landscape. These businesses benefit from subsidised postal arrangements and bulk logistics efficiencies, enabling them to offer cross-border delivery rates far below market averages. Their growth has drawn a substantial share of consumer spend toward low-value, high-volume apparel imports, while diverting large volumes of small-parcel exports away from traditional express couriers like SkyNet. The combined effect has been sustained downward pressure on pricing and yields across the small-parcel segment. Notwithstanding these conditions, the Company's UK client base delivered positive uptrade during the year, with increased trading volumes from key accounts supporting an improved overall performance. Principal risks and uncertainties The principal risk facing the Company is its ability to remain competitive in a market where a number of competitors offer lower-cost carriage and postal-based solutions. Sustained pricing pressure across the small-parcel and e-commerce segments limits the Company's ability to recover rate increases from customers, compressing yields at a time when input costs remain elevated. The Company operates an established infrastructure — fleet, hubs and global network — which carries a substantial fixed cost base. Filling available capacity is therefore critical: under-utilisation increases unit costs, erodes margin and weakens the Company's competitive position. Maintaining and growing throughput across this infrastructure is central to protecting profitability. Management mitigates these risks by pursuing operational efficiency, consolidating flows to improve load utilisation, shifting emphasis toward higher-value logistics services where price competition is less acute, and continuing to invest in automation and route optimisation to reduce unit costs. As a smaller and more agile operator, the Company seeks to differentiate on service, flexibility and e-commerce fulfilment capability rather than compete on price alone.
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SKYNET WORLDWIDE EXPRESS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
In a highly competitive market, and given the Company's niche proposition into its focus destinations and lanes, organic growth remains challenging. In response, we have downsized operations in areas of overcapacity to reduce our cost base and improve utilisation, aligning our infrastructure more closely with profitable demand. This disciplined approach protects margin and strengthens the Company's competitive position while positioning it for selective growth.
We continue to re-evaluate route networks, consolidate flows and invest in innovation, shifting emphasis from low-margin standard export parcels toward higher-value logistics services such as premium express, time-critical freight and value-added fulfilment. Australia remains a key lane for the Company and continues to underpin our focus destinations. Alongside this, our growth is targeted at new trade lanes offering significant opportunity, in particular the USA, Africa and the wider APAC region. We promote inbound UK logistics from stable markets, tighten focus on key exporters, offer flexible solutions and cross-sell fulfilment and returns services where clients face cost pressure. We continue to accelerate investment in tracking, automation, route optimisation and e-commerce integration to drive efficiency and reduce reliance on variable labour and fuel costs. While the “grow to size” principles continue to apply, a sharp focus on profitability rather than volume growth alone remains critical, allowing operational focus on the profitable segments of the business. Outlook The directors view the outlook for FY2027 positively. Market conditions are expected to stabilise over the course of the year, and conditions in the UK are similarly expected to steady, supporting a return to growth for the Company. While the market is expected to remain competitive, stabilising inflation, efficiency gains and targeted service differentiation are expected to support a continued recovery in volumes and profitability. SkyNet remains committed to strengthening its market position through operational resilience, innovation and a focus on sustainable long-term growth.
FY2026 was a year of strong financial progress for the Company. Against a highly competitive backdrop, decisive management action delivered growth in revenue, a resilient gross margin and a substantial improvement in the overall result.
Revenue grew by 14% to £39,691,881 (2025: £34,740,215), a standout performance in a market under sustained pricing pressure. Gross profit rose by 15% to £10,014,473 (2025: £8,726,912), with gross margin strengthening to 25.2% (2025: 25.1%) — demonstrating the Company's ability to grow the top line while protecting profitability. Administrative expenses were held broadly flat at £10,346,776 (2025: £10,510,302) despite inflationary pressure, reflecting the cost discipline embedded during the year. Together these drove a transformational improvement in the bottom line: the operating loss narrowed by 81% to £332,303 (2025: £1,783,390), and the loss for the year reduced by 81% to £356,724 (2025: £1,849,708). This represents a decisive step toward a return to profitability and underlines the success of the corrective actions taken during the year, including route rationalisation, renegotiation of supplier contracts, improved load consolidation and the introduction of premium, time-definite export services aimed at higher-value customers. We consider our key financial performance indicators to be those that communicate the financial performance and strength of the business as a whole. A key non-financial performance indicator is average delivery time, which we monitor daily, aiming for an average of 2 to 3 days, a standard we consider reflective of the quality of our service.
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SKYNET WORLDWIDE EXPRESS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The Directors can confirm that they have considered broader matters when performing their duties, specifically with regard to promoting the success of the Company for shareholders as a whole. In developing the Company’s strategy, the Directors and Senior Management Team consistently engage with employees, customers and suppliers as well as shareholders to develop the right outcomes. Specific examples include:
∙Employees: regular engagement through team briefings and consultation during the operational restructuring, with a focus on retaining key skills and supporting affected colleagues.
∙Customers: ongoing dialogue with major export clients on service levels, pricing and surcharge pass-through in a rising-cost environment.
∙Suppliers: renegotiation of carrier and supplier contracts to secure competitive rates and reliable capacity across the network.
∙Shareholders and parent: regular reporting to, and engagement with, the group on trading performance, strategy and funding.
This report was approved by the board and signed on its behalf.
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SKYNET WORLDWIDE EXPRESS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present their report and the financial statements for the year ended 31 March 2026.
The directors are responsible for preparing the Strategic report, the Directors' report and the annual financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The total distribution of dividends for the year ended 31 March 2026 will be £Nil.
The directors who served during the year were:
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SKYNET WORLDWIDE EXPRESS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The financial statements have been prepared on a going concern basis.
The company recorded a loss after tax for the year ended 31 March 2026 of £356,724 (2025: £1,849,708), an 81% reduction year on year. At the balance sheet date the company had net assets of £8,048,240 (2025: £8,404,964) and net current assets of £6,868,147 (2025: £7,060,367), including cash at bank of £1,250,510 (2025: £797,405). The broader macroeconomic environment across the UK and continental Europe remained fragile throughout the year, with elevated inflation, interest-rate pressure and subdued consumer sentiment continuing to weigh on retail activity and, in turn, on demand from the company's e-commerce customer base. Toward the end of the financial year, the escalation of conflict in the Middle East added a further layer of macroeconomic uncertainty. While this did not have a material impact on the company's performance, the associated uncertainty weighed on customer demand more broadly. Notwithstanding these conditions, the company's UK client base delivered positive uptrade during the year, with increased trading volumes from key accounts contributing to an improved overall performance for SkyNet. Combined with the corrective actions taken during the year — route rationalisation, cost reduction and a shift toward higher-value services — this delivered a materially better operating result, and trading stabilised in the second half of the year under the new management team. The ultimate parent company, SkyNet Worldwide Express Holdings (Pty) Ltd, has confirmed in writing its intention to provide such financial support as is necessary to enable the company to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors believe that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the annual financial statements have been prepared on a going concern basis. The directors are satisfied that the company has access to sufficient borrowing facilities to meet its foreseeable cash requirements. The directors are not aware of any new material changes that may adversely impact the company. The directors are also not aware of any material non-compliance with statutory or regulatory requirements or of any pending changes to legislation which may affect the company.
The engagement of the Company with suppliers, customers and others is detailed in the Section 172(1) statement in the Strategic report.
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SKYNET WORLDWIDE EXPRESS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Intensity Ratio 0.00091
The methodology used in the calculation of these disclosures was based on the HM Government Environmental Reporting Guidelines 2019 and the Greenhouse Gas Reporting conversion factors of 2026. Consumption data was extracted from supplier invoices across all sites. The intensity ratio has been calculated by applying metric tonnes equivalent per £ turnover (tCO2e/£).
Energy efficiency actions taken
We continue to invest in energy saving and renewable energy across the group and the current focus is on generating energy using solar panel technology.
There have been no significant events affecting the company since the year end.
The auditors, Cooper Parry Group Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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SKYNET WORLDWIDE EXPRESS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKYNET WORLDWIDE EXPRESS LIMITED
We have audited the financial statements of SkyNet Worldwide Express Limited (the 'Company') for the year ended 31 March 2026, which comprise the Profit and loss account, the Balance sheet, the 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 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.
The other information comprises the information included in the annual report other than the financial statements and our Auditors' 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.
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SKYNET WORLDWIDE EXPRESS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKYNET WORLDWIDE EXPRESS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the 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.
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SKYNET WORLDWIDE EXPRESS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKYNET WORLDWIDE EXPRESS LIMITED (CONTINUED)
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 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:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance. During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. Our procedures in relation to fraud included but were not limited to: enquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.
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SKYNET WORLDWIDE EXPRESS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKYNET WORLDWIDE EXPRESS LIMITED (CONTINUED)
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 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, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
1st Floor, Abbey Square
Davidson House
The Forbury
RG1 3EU
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SKYNET WORLDWIDE EXPRESS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2026
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SKYNET WORLDWIDE EXPRESS LIMITED
REGISTERED NUMBER: 04334961
BALANCE SHEET
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 26 form part of these financial statements.
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SKYNET WORLDWIDE EXPRESS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
SkyNet Worldwide Express Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The financial statements are prepared in Pound Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
2.Accounting policies
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 following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of SkyNet International Holding Limited as at 31 March 2026 and these financial statements may be obtained from Companies House.
The financial statements have been prepared on a going concern basis.
The company recorded a loss after tax for the year ended 31 March 2026 of £356,724 (2025: £1,849,708), an 81% reduction year on year. At the balance sheet date the company had net assets of £8,048,240 (2025: £8,404,964) and net current assets of £6,868,147 (2025: £7,060,367), including cash at bank of £1,250,510 (2025: £797,405). The broader macroeconomic environment across the UK and continental Europe remained fragile throughout the year, with elevated inflation, interest-rate pressure and subdued consumer sentiment continuing to weigh on retail activity and, in turn, on demand from the company's e-commerce customer base. Toward the end of the financial year, the escalation of conflict in the Middle East added a further layer of macroeconomic uncertainty. While this did not have a material impact on the company's performance, the associated uncertainty weighed on customer demand more broadly. Notwithstanding these conditions, the company's UK client base delivered positive uptrade during the year, with increased trading volumes from key accounts contributing to an improved overall performance for SkyNet. Combined with the corrective actions taken during the year — route rationalisation, cost reduction and a shift toward higher-value services — this delivered a materially better operating result, and trading stabilised in the second half of the year under the new management team.
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
The ultimate parent company, SkyNet Worldwide Express Holdings (Pty) Ltd, has confirmed in writing its intention to provide such financial support as is necessary to enable the company to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements.
Accordingly, the directors believe that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the annual financial statements have been prepared on a going concern basis. The directors are satisfied that the company has access to sufficient borrowing facilities to meet its foreseeable cash requirements. The directors are not aware of any new material changes that may adversely impact the company. The directors are also not aware of any material non-compliance with statutory or regulatory requirements or of any pending changes to legislation which may affect the company.
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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 five years.
Amortisation is provided on the following basis: Computer software - 20% Straight line
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (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 on the reducing balance basis.
Depreciation is provided on the following basis:
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.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. Management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments.
Useful economic lives of tangible fixed assets The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates and the physical condition of the assets. Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other receivables, management considers factors including: the credit rating of the receivable, the ageing profile of receivables and historical experience.
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
8.Taxation (continued)
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Share premium account
Profit and loss account
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SKYNET WORLDWIDE EXPRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £91,266 (2025: £121,534). Contributions totalling £15,613 (2025: £20,453) were payable to the fund at the balance sheet date and are included in creditors.
21.Other financial commitments
On 28 February 2023, the company entered into a fixed charge over its current account with Barclays Bank Plc.
The company is a wholly owned subsidiary of Deltec International Courier Limited, registered in England and Wales, whose immediate parent undertaking is SkyNet International Holding Limited, incorporated in the United Kingdom. The ultimate parent company is SkyNet Worldwide Express Holdings (Pty) Ltd whose address is 140 North Reef Road, Rietfontein 63LR Germiston, Gauteng, 1401 South Africa. In the opinion of the directors, the company is controlled by the ultimate parent company.
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