YODEL DELIVERY NETWORK LIMITED

• ⚠

  Material uncertainty over going concern

  However, the subsequent uncertainty over the Group's and Company's funding as noted above, in addition to the uncertainty over volume and cost savings assumptions in the Group's and Company's transformation plan and cash flow forecasts, constitutes a material uncertainty which may cast significant doubt as to the Group's and Company's ability to continue as a going concern and therefore may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. YODEL DELIVERY NETWORK LIMITED 2013-08-07 → present
2. HOME DELIVERY NETWORK LIMITED 2005-02-01 → 2013-08-07
3. PARCEL DELIVERY NETWORK LIMITED 2004-08-09 → 2005-02-01

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

MHA Audit Services LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, the subsequent uncertainty over the Group's and Company's funding as noted above, in addition to the uncertainty over volume and cost savings assumptions in the Group's and Company's transformation plan and cash flow forecasts, constitutes a material uncertainty which may cast significant doubt as to the Group's and Company's ability to continue as a going concern and therefore may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.”

Group structure

1. YODEL DELIVERY NETWORK LIMITED · parent
   1. Parcelpoint Limited 1% · England and Wales · Dormant
   2. Drop & Collect Limited 1% · England and Wales · Dormant

Significant events

• “Yodel Delivery Network Limited ("Yodel" or the "Company") was acquired by YDLGP Limited ("YDLGP") on 13 February 2024 and, subsequently on 21 June 2024, sold on to Judge Logistics Limited ("Judge").”
• “Post year-end, on 17 April 2025, Judge, which was previously owned by Mike Hancox who was CEO of Yodel, was sold to InPost UK Limited.”
• “During the year, on the 13 February 2024, the Company issued 83,457,462 ordinary shares (year ended 31 December 2023: no changes).”
• “In March 2024, the Group entered into an asset-based lending facility.”
• “Subsequently, on 25 April 2025, the Group made an early repayment of £28.7m to settle the asset-based lending facility. This was settled via an intercompany loan from the InPost group of companies of £42m, which is interest bearing at 7% per annum.”
• “On 21 June 2024, Judge Logistics Limited, owned by Mike Hancox, CEO of the Company, bought Yodel Delivery Network Limited for £1.”
• “On 24 December 2024, InPost UK Limited made a trading advance to Yodel Delivery Network Limited of £3m, for future trading between the two companies.”
• “From the date of purchase to the end of the financial year, Judge Logistics Limited made unsecured loans to the Company of £40.0m. The loan is repayable on demand and interest is charged on these loans at 10% and amounted to £1,553k for the year ended 31 December 2024.”
• “Post year end, and up to the date of approval of these financial statements, the Group has received £178m from InPost.”
• “Post year-end, on the 17 April 2025, Yodel's parent company, Judge Logistics Limited, was sold to InPost UK Limited for a consideration of £1.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

1

last 24 months

Officers appointed

2

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.