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2026-03-31-accounts

One World Shop

(Limited by Guarantee)

Report and Financial Statements For the year ended

31 March 2026

Company Number: SC096025 Charity Number: SC003072

One World Shop

Report and Financial Statements For the Year Ended 31 March 2026

Contents Pages
Trustees’ Annual Report 2 – 5
(including Reference & Administrative Information)
Report of the Independent Examiner 6
Statement of Financial Activities 7
(including Income & Expenditure Account)
Statement of Financial Position 8
(including Balance Sheet)
Notes to the Financial Statements 9 - 16

One World Shop

Trustees’ Annual Report For the Year Ended 31 March 2026

The trustees of One World Shop, who for the purposes of company law are the directors of the company, are pleased to present their report and the financial statements for the year ended 31 March 2026. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectives & Activities

The charity’s objects are:

The company's principal activity during the year was the running of fair trade shops in Edinburgh, focused on offering goods from developing countries, with the object of promoting fair trading relationships and encouraging co-operative development in order to create employment and relieve poverty. This primary purpose trading activity is recognised as charitable by HMRC. In parallel with the trading activity, the company has an educational objective to promote fair trade and related development issues, and an environmental objective to promote sustainable development.

Achievements & Performance

The One World Shop has had a positive year of both progress and challenge in a difficult trading environment. Rising costs, ongoing economic uncertainty, the impact of growing international conflicts and climate change, all place pressure on Fair Trade global producers and on shop customers. These circumstances reinforce the need for strong ethical and sustainable trading practices.

Despite the challenging context, the Shop achieved a 7.9% increase in turnover (to £356,027) compared to the previous year, encompassing both shop and online sales. This growth contributed to a surplus of £12,049 for the financial year.

Online sales fell by 9.4% year on year, despite several new initiatives developed to enhance the customer experience and search-function. Online continues to be a challenging environment for Fair Trade shops. More work is planned in the coming year to uplift the Shop's online profile.

During the reporting period, the Shop helped host and organise several outreach events, furthering its charitable objective to raise awareness of Fair Trade:

One World Shop

Trustees’ Annual Report (continued)

Communications and Community Engagement

The Shop maintained active involvement in key networks including:

Direct Trade and Supplier Relations

Supporting and developing closer links with our Fair Trade producers remains at the heart of everything the Shop does. The Shop continues to have ongoing trading relationships with suppliers in Bangladesh, Malawi, Kenya and Guatemala. These partnerships are intended to strengthen livelihoods and ensure greater traceability, transparency and impact.

Financial Review

Details of income and expenditure for the year are shown in the Statement of Financial Activities on page 7 with further details in the notes to the accounts. During the year, there was a net increase in funds of £12,049.

Income from sales increased to £356,027 (2025: £330,078).

Expenditure during the year amounted to £347,448 (2025: £329,591). Details of the expenditure are shown in note 3 on pages 11-12. Most of the expenditure relates to cost of goods sold, which increased in line with increased turnover, and staff costs which increased during the year.

The charity held total funds of £157,453 at the year end. A designated fund is held for fixed assets, with a balance of £10,817. The balance of £146,636 is held in the general fund and represents the charity’s free reserves.

Reserves policy

The trustees aim to hold reserves equivalent to 6 months’ operating expenditure, excluding stock cost. At the year end, the free reserves held were £146,636, which is equivalent to between 10 and 11 months’ expenditure based on the forward budget. The trustees are satisfied the level of reserves will help deal with continuing uncertainties around trading conditions and give the trustees the ability to continue investing in online presence and marketing to further develop and increase sales through that platform. In the coming year, the trustees will be considering the most appropriate use of any excess reserves.

One World Shop

Trustees’ Annual Report (continued)

Structure, Governance and Management

One World Shop is registered as a Scottish charity and is a company limited by guarantee, with the liability of the members limited to £5 each. The company is governed by the terms of its Memorandum and Articles of Association, which were agreed on incorporation on 18 November 1985 and were most recently revised in June 2021.

Members of the Management Committee (the trustees of the charity and directors of the company) are appointed from the members at the Annual General Meeting (AGM) and may also be co-opted at any time during the year, subject to election by the members at the subsequent AGM. The names of those who served as members of the Management Committee during the year are shown on page 5.

Members of the Management Committee receive training in their role as required, including annual away-days with the staff to review business strategy. Day to day operations are delegated to the staff, under direction of the Business Manager.

Further reference and administrative information is shown below.

Risk management

The Management Committee have considered the major risks affecting the business of the company, including inflation and the Cost-of-Living crisis in a high street retail environment which continues to be challenging.

Work on expanding the shop’s online capacity has increased during the year, and other measures are being considered to mitigate those risks.

Reference & Administrative Information

Charity Name: One World Shop Company registration: SC096025 Company Limited by Guarantee Charity registration: Scottish Charity SC003072 Registered office: One World Shop St John’s Church Princes Street Edinburgh EH2 4BJ

One World Shop Trustees, Annual Report (continued) Trustees & Directors Those serving as trustees and company directiyrs at the date of thi8 report are: Sarah Burns Russell Figgis Christopher Horton Carolyn Thurslon Smith Chair The following also served as tnjstees during the year. Roisin Booth David Cousland Resigned 5 January 2026 Resigned 18 November 2025 Company Secretary.. Rachel Farey Bankers.. R8S 142-144 Princes Street Edinburgh EH2 4EQ Inde￿ndent Examlner." Paul M. Clelland C.A. Paul Clelland Accountancy 74 Norse Road Glasgow G14 9EF Small Company Pmvlsions This report has been prepared taking advantage of the small companies, exemption of section 415A of the Companies Act 2(X)6. By Order of the Board Signed: C Iflè Date: 46lu Name: Director Company Registration Number: SC09602S

Report of the Independent Examiner To the Trustees of One World Shop I report on the accounts of One Wodd Shop for the year ended 31 March 2026. which are set out on pages 7 to 16. Re$pe¢tlve responsibilities of trustees and examiner The directors, as Iruslees of the charity. are responsible for the preparation of the accounts in accordance with the lemis of the Charities and Trustee Investment Iscollandl Act 2005 {the 2005 Act) and the Charities Accounts {Scotlandl Regulations 2006, as amended Ithe 2006 Accounts Regulalions}. They consider that the audit requirement of Regulation 10{11 lal to Icl of the 2(106 Accounts Regulations does not apply. 11 is my responsibility lo examine the accounts as required under section 44{11 Icl of the 2005 Act and lo stste whether particular matters have come to my attention. Basis of independent examinerfs statemenl My examination is carried out in accordance wrth Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes considerats.on of any unusual items or disclosures in the a￿OuntS, and seeks explanations from the trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequenty I do not express an audit opinion on the view given by the accounts. Independent examiner'5 Statement In the course of my 8xamination. no matter has come to my attention.. which gives me reasonable cause to believe that in any material respect the requirements: lo keep accounting records in accordance with Section 44111 {al of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations. and lo prepare accounts which accord with Ihe accounting ￿ordS and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts lo be reached. Paul M Clelland CA Date: Member of the Institute of Chartered Accountants of Scouand Paul Clell8nd Accountsncy 74 Norse Road Glasgow G14 9EF

One World Shop

Statement of Financial Activities ( including Income and Expenditure Account )

For the Year Ended 31 March 2026

Note
Income from:
Donations
2
Grants & donations
Charitable activities
Turnover from sales of fair trade goods
Investments
Dividends
Bank interest
Total income
Expenditure on:
Charitable activities:
Costs of charitable trading
Staff costs
Occupancy costs
Shop overheads
Administrative costs
Other costs
Total expenditure
3
Net income / (expenditure) before gains on investments
Gains on investments
Net income / (expenditure)
Net movement in funds
Reconciliation of funds:
Funds brought forward
Funds carried forward		 Total
2026
£
1,439
356,027
23
2,004
359,493
189,934
108,514
15,842
9,163
17,539
6,456
347,448
12,045
4
12,049
12,049
145,404
157,453		 Total
2025
£
3,107
330,078
-
1,038
334,223
174,136
111,834
14,989
8,821
14,500
5,311
329,591
4,632
-
4,632
4,632
140,772
145,404

The above statement includes all gains and losses recognised during the year.

All income and expenditure in the current and previous years relates to the charity's unrestricted funds.

The notes on pages 9 to 16 form part of these financial statements.

One World Shop Statement of Financial Position ( including Balance Sheet ) at 31 March 2026 Not• 2026 2025 Fixed Assets Tangible assets Programme related inve5trnents 10,817 277 11.094 12,473 273 12,746 Current Assets Stock of goods for resale Debtors Cash at bank and in hand 25.956 6.465 136.818 169.239 25,940 8,248 121.352 155,540 Creditors: Amounts falling due within one year 22.718 22,561 Not Curront Assets 146,521 132,979 Total Assets less Current Llabllltles 157.615 145,725 Creditors: Amounts falling due after more than one year Tolal Net Assets 162 321 157.453 145,404 Funds: Unr•strfctsd funds: General fund Fixed assets fund Total Funds 13 13 146.636 10,817 157.453 132,931 12,473 145,404 For the year ended 31 March 2026 the company was entitled to exemptson from an audit under sections 475 and 477 of the Companies Act 2006 llhe Acr) relatsng to small companies. The members have not required the company io obtsin an audii of its accounts for the year in question in accordance with section 476 of Ihe Act. The directors acknowledge their responsibiltties for complwng wlh the requirements of the Act with respect to accounting records and Ihe preparation of accounts. These accounts have been prepared in a¢￿dance vAth the prowS￿n$ applicable lo companies subject lo the small companies, regime. Approved by the Board and authorised for Issue Signed: Name: C Vcfio Director Dato: The noles on pages 9 10 16 form part of these financial statements.

One World Shop

Notes to the Financial Statements for the Year Ended 31 March 2026

1. Accounting Policies

Basis of Accounting

The financial statements have been prepared on the historical cost basis and in accordance with the requirements of:

The charity constitutes a public benefit entity as defined by FRS102.

The Trustees consider that there are no material uncertainties about the ability of the charity to continue as a going concern for the foreseeable future. Accordingly, the accounts have been prepared on a going concern basis.

Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income received by way of grants and donations is included in full in the Statement of Financial Activities when receivable. Where entitlement is conditional on the delivery of a specific performance by the charity, grants are recognised when the charity earns the right to consideration by its performance. Where a grant or donation is given for a specific purpose, it is included in restricted income and any unexpended portion is carried forward as a restricted fund.

Income from commercial trading activities is recognised as earned (as the related goods and services are provided). It is stated after trade discounts and is net of VAT where applicable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. The charity has opted not to report on the activity basis. Expenditure is instead reported by cost type.

Commitments paid in respect of operating leases are recognised on a straight line basis over the lease term.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are capitalised and are stated at cost less accumulated depreciation, which is provided to write off the cost of the assets over their estimated useful lives, as follows:

Tenant's improvements 10 years straight line Office equipment 4 years straight line Fixtures & fittings 5 years straight line

One World Shop Notes to the Financial Statements (continued)

1. Accounting Policies (continued)

Programme Related Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing bid price or trading price. The Statement of Financial Activities includes the net gains, losses and impairment arising on revaluation and disposals throughout the year.

All investments held by the charity are programme related. Any losses on investment value are treated as impairment and charged to expenditure. Gains are taken to the Statement of Financial Activities either to reverse previous impairment, or as unrealised or realised gains.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated using the average cost method.

Other Basic Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

The company is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. No charge to corporation tax arose during the year. The charity is registered for VAT. All items in the accounts are included net of applicable VAT.

Pensions

The company makes pension contributions to three defined contribution pension schemes for its employees. Contributions are charged to expenditure as they become payable.

The company has an employee who was formerly a member of a multi-employer defined benefit scheme with TPT Retirement Solutions. The company makes ongoing contributions towards their share of the scheme deficit, in accordance with guidance from the scheme administrators. Further information is contained in Note 11 to the accounts.

Funds

Funds are classified as either restricted funds or unrestricted funds, defined as follows:

Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity.

Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund.

One World Shop

Notes to the Financial Statements (continued)

2. Grants & donations
Donations including gift aid
Memberships & subscriptions
Total grants & donations		 Total
2026
£
547
892
1,439		 Total
2025
£
2,209
898
3,107

All grants and donations in the prior year related to unrestricted funds.

Donations above include a total of £60 donated by trustees during the year (2025: £60).

3. Expenditure
Costs of charitable trading
Opening stock
Purchases
Closing stock
Staff costs
Occupancy costs
Shop overheads
Administrative costs
Other costs
Total expenditure		 £
25,940
189,950
(25,956)
189,934
108,514
15,842
9,163
17,539
6,456
347,448		 £
28,484
171,592
(25,940)
174,136
111,834
14,989
8,821
14,500
5,311
329,591

All expenditure in the prior year related to unrestricted funds.

Expenditure includes:
Governance costs:
Independent examiner's remuneration:
for independent examination
for other services
Operating lease payments
Employer's pension contributions
Analysis of Staff costs
Gross salaries
Social Security costs
Pension costs - regular		 £
1,020
-
1,020
13,939
6,260
£
101,998
256
6,260
108,514		 £
975
100
1,075
11,987
7,799
£
101,446
2,589
7,799
111,834

One World Shop Notes to the Financial Statements (continued)

3. Expenditure (continued)

The average number of staff employed directly during the year, on a headcount basis, was 6 (2025: 8).

The total amount of employee benefits, including employer national insurance and pension contributions, paid in respect of key management personnel was £65,796 (2025: £64,003). No employee had emoluments of more than £60,000.

4. Transactions with Trustees and Related Parties

No travel or other expenses were reimbursed to any trustees in the current or previous years.

Chris Horton, a trustee, was paid £5,280 (2025: £5,280) for providing accountancy services to the charity.

5. Tangible Fixed Assets
Cost
At 1 April 2025
Additions
At 31 March 2026
Depreciation
At 1 April 2025
Charge for the year
At 31 March 2026
Net Book Value
At 31 March 2026
At 31 March 2025
6. Programme related investments
Market value at 1 April
Unrealised (losses) / gains
Market value at 31 March		 Tenant's
improve-
ments
£
31,908
-
31,908
22,302
3,192
25,494
6,414
9,606		 Office
equipment
£
5,485
3,098
8,583
3,213
1,696
4,909
3,674
2,272		 Fixtures &
fittings
£
15,812
536
16,348
15,217
402
15,619
729
595
2026
£
273
4
277		 Total
£
53,205
3,634
56,839
40,732
5,290
46,022
10,817
12,473
2025
£
279
(6)
273

The closing market value of programme related investments is made up of investments in the following organisations:

Shared Interest Society Ltd
Triodos Bank NV		 225
52
277		 225
48
273

One World Shop

Notes to the Financial Statements (continued)

**7. ** Debtors 2026 2025
£ £
Amounts due within one year:
Trade debtors - 360
Accrued income 317 1,102
Prepayments and other debtors 6,148 6,786
6,465 8,248
**8. ** Creditors: amounts falling due within one year
Trade creditors £
11,185		 £
11,850
VAT payable 1,995 2,491
Other tax & social security 1,524 998
Provision for pension deficit funding obligation (see note 11) 178 178
Accruals and other creditors 7,836 7,044
22,718 22,561
**9. ** Creditors: amounts falling due after more than one year
Provision for pension deficit funding obligation (see note 11) £
162		 £
321
162 321
**10. ** Operating Lease Commitment
At the balance sheet date, the charity had future minimum payments under non-cancellable operating
leases for premises and equipment as follows:
Payable in less than one year £
1,536		 £
1,508
Payable between one and five years 2,304 3,770
3,840 5,278

10. Operating Lease Commitment

One World Shop Notes to the Financial Statements (continued)

11. Pension Commitments

The company has one employee who was formerly a member of TPT Retirement Solutions Growth Plan 3 ("the Plan"), a multi-employer scheme which provides benefits to some 521 non-associated participating employers. This scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets of £514.9m, liabilities of £531.0m and a deficit of £16.1m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions From 1 April 2025 to 31 March 2028:

£2,100,000 per (payable monthly) annum

Unless a concession has been agreed with the Trustee the term to 31 March 2028 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions From 1 April 2022 to 31 January 2025: £3,312,000 per (payable monthly) annum

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

One World Shop Notes to the Financial Statements (continued)

11. Pension Commitments (cont.)

Present value of provision
Present value of provision
Reconciliation of opening and closing provisions
Provision at start of period
Unwinding of the discount factor (interest expense)
Deficit contribution paid
Remeasurements - impact of any change in assumptions
Remeasurements - amendmends to the contribution schedule
Assumptions
Rate of discount		 31/3/26
£
499
£
499
19
(178)
-
-
340
31/3/26
%
4.92		 31/3/25
£
499
£
215
6
(219)
3
494
499
31/3/25
%
4.84

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

12. Movement in Funds
Unrestricted funds:
Designated Fixed Assets fund
(a)
General fund
Total unrestricted funds
Total funds		 At
01/04/25
12,473
132,931
145,404
145,404		 Income
Expenditure
& gains
& losses
-
(5,290)
359,497
(342,158)
359,497
(347,448)
359,497
(347,448)
Movement in Funds		 Transfers
3,634
(3,634)
-
-		 At
31/03/26
10,817
146,636
157,453
157,453

Note:

Purpose of Designated Fund:

(a) Designated fixed assets fund: This fund corresponds to the net book value of fixed assets. Annual depreciation is charged to this fund and the cost of any fixed assets purchased is transferred into the fund.

One World Shop

Notes to the Financial Statements (continued)

13. Analysis of Net Assets between Funds
Tangible fixed assets
Programme-related investments
Stock
Debtors
Cash on deposit, at bank & in hand
Creditors due within one year
Creditors due in more than one year
Net assets at 31 March 2026
14. Movement in Funds - Prior Year
At
01/04/24
Unrestricted funds:
Designated Fixed Assets fund
14,620
General fund
126,152
Total unrestricted funds
140,772
Total funds
141,492
15. Analysis of Net Assets between Funds - Prior Year
Tangible fixed assets
Programme-related investments
Stock
Debtors
Cash on deposit, at bank & in hand
Creditors due within one year
Creditors due in more than one year
Net assets at 31 March 2025		 Unrestricted Funds
General
Designated
£
£
-
10,817
277
-
25,956
-
6,465
-
136,818
-
(22,718)
-
(162)
-
146,636
10,817
Income
Expenditure Transfers
& gains
& losses
-
(4,745)
2,598
334,223
(324,846)
(2,598)
334,223
(329,591)
-
334,223
(329,591)
-
Unrestricted Funds
General
Designated
£
£
-
12,473
273
-
25,940
-
8,248
-
121,352
-
(22,561)
-
(321)
-
132,931
12,473
Movement in Funds		 Total
Funds
£
10,817
277
25,956
6,465
136,818
(22,718)
(162)
157,453
At
31/03/25
12,473
132,931
145,404
145,404
Total
Funds
£
12,473
273
25,940
8,248
121,352
(22,561)
(321)
145,404