WS&S SOLUTIONS LIMITED

Company number

04428909

Status

Active

Incorporation

2002-05-01

Last accounts made up

2024-12-31

Account category

FULL

Primary SIC

49410

Hubs

UK Logistics & Mobility

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In considering the going concern assessment, the Board has undertaken a rigorous assessment of going concern assumptions using the base case financial forecasts and a severe but plausible downside scenario covering the 12 months from the date of signing these financial statements. The base case projections prepared for the going concern assessment are derived from the actual and budgeted volume activity for the 2024 and 2025 calendar years, extended to encompass a period of assessment for 12 months from the date of signing these financial statements. Downside scenario sensitivity tests incorporated into the Group's modelling include a drop in average selling prices and volumes, resulting in lower revenues, operating profit margins and free cashflow due to reduced customer activity and a macro-economic recession. The Board incorporated assessment of Group debt arrangements, banking covenants and projected headroom into its scenario analysis. Management and the Board are confident that the business will continue to generate sufficient cash flows from their operations to meet future obligations as they fall due, as well as the Group's ability to secure equivalent financing from it's lenders or via the continued support of the shareholders. Based on these assessments and the performance of the Group through to the date of signing these financial statements, the Director believes that it remains appropriate to prepare the financial statements on a going concern basis.”

Significant events

• “2024 has been a transformative year for EV Cargo and especially EV Cargo Solutions, with many of the significant investments and strategic initiatives undertaken in recent years generating compelling values and results. The Company implemented key strategies aimed at expanding its service offerings, enhancing efficiency and improving customer satisfaction.”
• “New business growth remains strong with new projects won and implemented. An increased focus on e-commerce activities will provide an exciting opportunity for the business, providing additional yield opportunities as well.”
• “A strong dedicated and experienced management team has made significant progress delivering a transformation programme that commenced in 2023 and continued into 2024.”
• “Efficiency programmes drove a £4.2 million reduction in total administrative expenses to £7.1 million (2023 - £11.3 million), inclusive of adjusting items.”
• “The Company reported an operating profit (EBIT) of £1.4 million, as compared to an operating loss in 2023 (2023 - operating loss of £1 million).”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers