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REGISTERED NUMBER: 08448852 (England and Wales)
















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BREEZELINE INTERNATIONAL GROUP LIMITED

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
For The Year Ended 31 December 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 17


BREEZELINE INTERNATIONAL GROUP LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: C B Charnock
J Y Charnock
S R Duke
A M Herbert
M R Jackson





REGISTERED OFFICE: Business Centre Suite 4
1-7 Commercial Road
Paddock Wood
Tonbridge
Kent
TN12 6EN





REGISTERED NUMBER: 08448852 (England and Wales)





AUDITORS: Crane & Partners
Chartered Accountants & Statutory Auditors
Leonard House
5 - 7 Newman Road
Bromley
Kent
BR1 1RJ

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

GROUP STRATEGIC REPORT
For The Year Ended 31 December 2023


The directors present their strategic report of the company and the group for the year ended 31 December 2023.

REVIEW OF BUSINESS
During the current year, the level of turnover has increased by 3%. The gross profit margin has increased from 12.65% in the previous year to 14.25% for the current year.

The Group profit for the year before taxation was £5,047,813 (2022: £4,982,145).

RESERVES
Retained reserves of £9,458,847 at the year end indicated an increase of 44% compared with the previous year.

CASH FLOW AND LIQUIDITY
Cash flow was in line with expectations, with a net increase in cash of £1,609,357. The group's net current assets ratio was 1.47 at the year end (2022: 1.26).

ON BEHALF OF THE BOARD:





A M Herbert - Director


7 October 2024

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

REPORT OF THE DIRECTORS
For The Year Ended 31 December 2023


The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the provision of consultancy services in the international transportation industry.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 was £383,764.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

C B Charnock
J Y Charnock
S R Duke
A M Herbert
M R Jackson

POLITICAL DONATIONS AND EXPENDITURE
The donations made in the year were not political in nature.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

REPORT OF THE DIRECTORS
For The Year Ended 31 December 2023


AUDITORS
The auditors, Crane & Partners, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A M Herbert - Director


7 October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BREEZELINE INTERNATIONAL GROUP LIMITED


Opinion
We have audited the financial statements of Breezeline International Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
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 group's and the parent 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BREEZELINE INTERNATIONAL GROUP LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BREEZELINE INTERNATIONAL GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to those laws which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and tax legislation.

We evaluated management's opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and potential management bias towards accounting estimates.

Audit procedures included discussions with management, challenging assumptions made by management in their significant accounting estimates, and identifying and testing journal entries posted with unusual account combinations.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material fraud is higher than the risk of not detecting one resulting from error, as fraud may be deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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 Report of the Auditors.

Use of our report
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 a Report of the Auditors 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.




Raymond McDonagh FCA (Senior Statutory Auditor)
for and on behalf of Crane & Partners
Chartered Accountants & Statutory Auditors
Leonard House
5 - 7 Newman Road
Bromley
Kent
BR1 1RJ

7 October 2024

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

CONSOLIDATED INCOME STATEMENT
For The Year Ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 121,276,523 117,293,311

Cost of sales 103,988,858 102,461,440
GROSS PROFIT 17,287,665 14,831,871

Administrative expenses 12,075,966 9,622,614
OPERATING PROFIT 4 5,211,699 5,209,257

Interest receivable and similar income 7,189 -
5,218,888 5,209,257

Interest payable and similar expenses 5 171,075 227,112
PROFIT BEFORE TAXATION 5,047,813 4,982,145

Tax on profit 6 1,364,000 571,749
PROFIT FOR THE FINANCIAL YEAR 3,683,813 4,410,396
Profit attributable to:
Owners of the parent 3,640,352 4,397,595
Non-controlling interests 43,461 12,801
3,683,813 4,410,396

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
For The Year Ended 31 December 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 3,683,813 4,410,396


OTHER COMPREHENSIVE INCOME
Currency translation differences (353,352 ) 15,696
Income tax relating to other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(353,352

)

15,696
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,330,461

4,426,092

Total comprehensive income attributable to:
Owners of the parent 3,287,000 4,413,292
Non-controlling interests 43,461 12,800
3,330,461 4,426,092

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

CONSOLIDATED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 134,797 176,062
Tangible assets 10 287,811 153,967
Investments 11 20,000 10,000
Investment property 12 380,000 380,000
822,608 720,029

CURRENT ASSETS
Debtors 13 29,665,109 30,945,200
Cash at bank and in hand 4,527,661 3,458,298
34,192,770 34,403,498
CREDITORS
Amounts falling due within one year 14 23,306,925 27,338,292
NET CURRENT ASSETS 10,885,845 7,065,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,708,453

7,785,235

CREDITORS
Amounts falling due after more than one
year

15

2,133,944

1,157,423
NET ASSETS 9,574,509 6,627,812

CAPITAL AND RESERVES
Called up share capital 17 132 132
Retained earnings 18 9,458,847 6,555,611
SHAREHOLDERS' FUNDS 9,458,979 6,555,743

NON-CONTROLLING INTERESTS 115,530 72,069
TOTAL EQUITY 9,574,509 6,627,812

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:




A M Herbert - Director



M R Jackson - Director


BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

COMPANY BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 120 120
Investment property 12 - -
120 120

CURRENT ASSETS
Debtors 13 2,567 2,567
Cash at bank 649 793
3,216 3,360
CREDITORS
Amounts falling due within one year 14 3,685 3,685
NET CURRENT LIABILITIES (469 ) (325 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(349

)

(205

)

CAPITAL AND RESERVES
Called up share capital 17 132 132
Retained earnings 18 (481 ) (337 )
SHAREHOLDERS' FUNDS (349 ) (205 )

Company's profit for the financial year 383,620 391,659

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:




A M Herbert - Director



M R Jackson - Director


BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For The Year Ended 31 December 2023

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 1 January 2022 132 2,534,147 2,534,279 59,269 2,593,548

Changes in equity
Dividends - (391,827 ) (391,827 ) - (391,827 )
Total comprehensive income - 4,413,291 4,413,291 12,800 4,426,091
Balance at 31 December 2022 132 6,555,611 6,555,743 72,069 6,627,812

Changes in equity
Dividends - (383,764 ) (383,764 ) - (383,764 )
Total comprehensive income - 3,287,000 3,287,000 43,461 3,330,461
Balance at 31 December 2023 132 9,458,847 9,458,979 115,530 9,574,509

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

COMPANY STATEMENT OF CHANGES IN EQUITY
For The Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 132 (169 ) (37 )

Changes in equity
Dividends - (391,827 ) (391,827 )
Total comprehensive income - 391,659 391,659
Balance at 31 December 2022 132 (337 ) (205 )

Changes in equity
Dividends - (383,764 ) (383,764 )
Total comprehensive income - 383,620 383,620
Balance at 31 December 2023 132 (481 ) (349 )

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

CONSOLIDATED CASH FLOW STATEMENT
For The Year Ended 31 December 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,593,618 2,029,221
Interest paid (171,075 ) (227,112 )
Tax paid (1,062,841 ) (503,812 )
Net cash from operating activities 2,359,702 1,298,297

Cash flows from investing activities
Purchase of intangible fixed assets (10,553 ) (40,446 )
Purchase of tangible fixed assets (255,580 ) (75,121 )
Purchase of fixed asset investments (20,000 ) -
Sale of tangible fixed assets 2,145 (93,463 )
Sale of fixed asset investments 10,000 -
Interest received 7,189 -
Net cash from investing activities (266,799 ) (209,030 )

Cash flows from financing activities
New loans in year 392,699 -
Loan repayments in year (370,522 ) (226,404 )
Amount introduced by directors - 10,862
Amount withdrawn by directors (121,959 ) -
Equity dividends paid (383,764 ) (391,827 )
Net cash from financing activities (483,546 ) (607,369 )

Increase in cash and cash equivalents 1,609,357 481,898
Cash and cash equivalents at
beginning of year

2

2,918,304

2,436,406

Cash and cash equivalents at end of
year

2

4,527,661

2,918,304

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
For The Year Ended 31 December 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 5,047,813 4,982,145
Depreciation charges 122,080 88,652
Loss on disposal of fixed assets 1,825 106,273
Adjustment for exchange differences (357,665 ) 8,749
Amortisation 51,817 142,134
Finance costs 171,075 227,112
Finance income (7,189 ) -
5,029,756 5,555,065
Decrease/(increase) in trade and other debtors 1,280,091 (4,758,890 )
(Decrease)/increase in trade and other creditors (2,716,229 ) 1,233,046
Cash generated from operations 3,593,618 2,029,221

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 4,527,661 3,458,298
Bank overdrafts - (539,994 )
4,527,661 2,918,304
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 3,458,298 3,100,413
Bank overdrafts (539,994 ) (664,007 )
2,918,304 2,436,406


BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
For The Year Ended 31 December 2023


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 3,458,298 1,069,363 4,527,661
Bank overdrafts (539,994 ) 539,994 -
2,918,304 1,609,357 4,527,661
Debt
Debts falling due within 1 year (1,412,376 ) 954,344 (458,032 )
Debts falling due after 1 year (1,157,423 ) (976,521 ) (2,133,944 )
(2,569,799 ) (22,177 ) (2,591,976 )
Total 348,505 1,587,180 1,935,685

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

Breezeline International Group 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 General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The group financial statements consolidate the financial statements of the company and its subsidiary undertakings made up to 31 December 2021 and its share of the results and post-acquisition reserves of associated undertakings.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income from freight forwarding is recognised on performance of the contract.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost and 20% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Investment property
Investment property is shown at historical cost. The directors consider the market value to be in line with the historical cost shown in the accounts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates defined contribution pensions schemes. Contributions payable to the group's pensions schemes are charged to the profit and loss account in the period to which they relate.

Employer financed retirement benefit schemes
The group established an employer financed retirement benefit scheme for the benefit of its officers, employees and their wider families, The Trans Global Projects Limited Employer Financed Retirement Benefit Scheme ("the Scheme").

In accordance with UITF 32 "Employee Benefit Trusts and other immediate payment arrangements", the group does not include assets and liabilities of the Scheme on its Balance Sheet to the extent that it considers that it will not retain any future economic benefit from the assets of the Scheme and will not have control of the rights or other access to those future economic benefits.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 6,710,141 4,476,182
Other pension costs 324,858 240,065
7,034,999 4,716,247

The average number of employees during the year was as follows:
2023 2022

Staff 129 115

2023 2022
£    £   
Directors' remuneration 126,858 126,858
Directors' pension contributions to money purchase schemes 38,642 21,241

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 905 1,061
Other operating leases 586,820 569,731
Depreciation - owned assets 122,081 88,652
Loss on disposal of fixed assets 1,825 106,273
Goodwill amortisation 21,581 114,612
Computer software amortisation 30,237 27,522
Auditors' remuneration 21,572 25,382
Foreign exchange differences 591,129 (12,649 )

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Other interest paid 171,075 227,112

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 325,836 228,247
Tax adj 200 (48,388 )
Corporation tax of foreign
subsidiaries 1,037,964 391,890

Tax on profit 1,364,000 571,749

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Currency translation differences (353,352 ) - (353,352 )


BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


6. TAXATION - continued
2022
Gross Tax Net
£    £    £   
Currency translation differences 15,696 - 15,696

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £0.10 each
Interim 383,764 391,827

9. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£    £    £   
COST
At 1 January 2023 1,257,134 154,389 1,411,523
Additions - 10,553 10,553
Disposals - (6,990 ) (6,990 )
At 31 December 2023 1,257,134 157,952 1,415,086
AMORTISATION
At 1 January 2023 1,153,537 81,924 1,235,461
Amortisation for year 21,581 30,237 51,818
Eliminated on disposal - (6,990 ) (6,990 )
At 31 December 2023 1,175,118 105,171 1,280,289
NET BOOK VALUE
At 31 December 2023 82,016 52,781 134,797
At 31 December 2022 103,597 72,465 176,062

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


10. TANGIBLE FIXED ASSETS

Group
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 852,515 14,207 263,039 1,129,761
Additions 194,933 22,468 38,179 255,580
Disposals (48,693 ) - (128,893 ) (177,586 )
Exchange differences 2,859 - (1,019 ) 1,840
At 31 December 2023 1,001,614 36,675 171,306 1,209,595
DEPRECIATION
At 1 January 2023 740,040 14,207 221,547 975,794
Charge for year 101,122 2,247 18,712 122,081
Eliminated on disposal (46,548 ) - (127,068 ) (173,616 )
Exchange differences (1,315 ) - (1,160 ) (2,475 )
At 31 December 2023 793,299 16,454 112,031 921,784
NET BOOK VALUE
At 31 December 2023 208,315 20,221 59,275 287,811
At 31 December 2022 112,475 - 41,492 153,967

11. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 January 2023 10,000
Additions 20,000
Disposals (10,000 )
At 31 December 2023 20,000
NET BOOK VALUE
At 31 December 2023 20,000
At 31 December 2022 10,000

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


11. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 120
NET BOOK VALUE
At 31 December 2023 120
At 31 December 2022 120

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Trans Global Projects Group Limited
Registered office: Paddock Wood Business Centre Suite 4, 1-7 Commercial Road, Paddock Wood, Kent, TN12 6EN
Nature of business: Consultancy services
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 524,074 391,248
Profit for the year 557,440 483,637

Trans Global Projects Limited
Registered office: Paddock Wood Business Centre Suite 4, 1-7 Commercial Road, Paddock Wood, Kent, TN12 6EN
Nature of business: International Freight Management and related
%
Class of shares: holding
Ordinary £1 100.00
2023 2022
£    £   
Aggregate capital and reserves 2,837,678 2,328,254
Profit for the year 1,178,374 1,174,962

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


11. FIXED ASSET INVESTMENTS - continued

NATCO GmbH Internationale Spedition
Registered office: Diepenau 2, 28195 Bremen
Nature of business: Freight management
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 276,921 40,725
Profit for the year 237,025 89,093

TGP Logistics Pty Ltd
Registered office: Buidling 5, Lakes Vista Office Park, 2-4 Flinders Parade, Northlakes, QLD 4509
Nature of business: Freight Forwarding
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 333,368 233,117
Profit for the year 200,205 233,117

Natco AG Internationale Transporte
Registered office: Oberglatterstrasse 35, CH-8153 Rumlang, Switzerland
Nature of business: Freight management
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 3,268,271 2,374,803
Profit for the year 999,423 457,973

TGP Brasil Projetos & Transportes Internacionais LTDA
Registered office: Rua Arandu, 281 - Cj.91, BR-04562-030, Brooklin, São Paulo
Nature of business: Freight Forwarding
%
Class of shares: holding
Ordinary 80.00
2023 2022
£    £   
Aggregate capital and reserves 325,804 45,573
Profit for the year 411,141 89,211

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


11. FIXED ASSET INVESTMENTS - continued

Trans Global Projects GmbH
Registered office: Diepenau 2, 28195 Bremen
Nature of business: Freight management
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 586,432 257,117
Profit for the year 491,137 209,397

Transglobal Projects Middle East (FZE)
Registered office: HDS Business Centre, Cluster M, Unit 2503, Jumeirah Lakes Towers, Dubai
Nature of business: Freight forwarding
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 2,144,060 1,810,064
Profit for the year 554,166 1,629,550

Trans Global Projects AG
Registered office: Oberglatterstrasse 35, CH-8153 Rumlang, Switzerland
Nature of business: Freight forwarding
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 229,565 233,871
Profit/(loss) for the year 25,026 (11,888 )

Trans Global Holdings (Switzerland) AG
Registered office: Europastrasse 18, CH-8152 Glattbrugg, Zurich, Switzerland
Nature of business: Freight forwarding
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,943,558 1,914,862
Loss for the year (46,178 ) (26,956 )

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


11. FIXED ASSET INVESTMENTS - continued

Trans Global Projects Logistics Pty Ltd
Registered office: Level 6, 37 St Georges Terrace, Perth WA 6000
Nature of business: Freight forwarding
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,906,058 1,422,003
Profit for the year 909,858 586,967

TGP Logistics Inc
Registered office: 16945 Northchase Dr., Suite 1475, Houston, TX 77060
Nature of business: Freight forwarding
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (124,976 ) (15,857 )
(Loss)/profit for the year (147,138 ) 603,419

NPT Switzerland GmbH
Registered office: Oberglatterstrasse 35, 8153 Rümlang, Switzerland
Nature of business: Freight forwarding
%
Class of shares: holding
Ordinary 80.00
2023 2022
£    £   
Aggregate capital and reserves - 12,008
Profit for the year - 128

TGP Logistics DMCC
Registered office: HDS Business Centre, Cluster M, Unit 2503, Jumeirah Lakes Towers, Dubai
Nature of business: FReight forwarding
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 345,239 364,669

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


11. FIXED ASSET INVESTMENTS - continued

TGP Projects LLC
Registered office: PO Box 1932, PC 133, Al Khuwair, Muscat, Sultanate of Oman
Nature of business: Freight forwarding
%
Class of shares: holding
Ordinary 60.00
2023 2022
£    £   
Aggregate capital and reserves 125,923 151,383
Loss for the year (1,748 ) (8,446 )

Trans Global Projects Logistics Pte Limited
Registered office: 1 Paya Lebar Link, 04-01 Paya Lebar Quarter,Singapore 408533
Nature of business: Freight forwarding
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (57,621 ) (57,824 )
Loss for the year (1,990 ) (25,902 )

The group also holds either directly or indirectly a controlling stake in the following entities throughout the current and prior period (unless otherwise stated).

TGP Azerbaijan LLC
Registered office: Marine Plaza Premium Offices, Fl.8, Uzeyir Hajibeyli Street 62, Baku - AZ 1010
Class of shares: Ordinary
Holding: 100.00%
Aggregate capital and reserves (£1,838)
Loss for the year (£1,843)

Trans Global Projects BV
Registered office: Hofplein 20, 3032 AC Rotterdam
Class of shares: Ordinary
Holding: 100.00%
Aggregate capital and reserves (£40,826)
Loss for the year (£40,826)

Trans Global Projects Group (SAR)
Registered office: NJRC Building 5391, 1st Floor, Al Amir Mohammed Bin Saud Street, Dammam 32241
Class of shares: Ordinary
Holding: 100.00%
Aggregate capital and reserves £89,960
Profit for the year £47,259


BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 380,000
NET BOOK VALUE
At 31 December 2023 380,000
At 31 December 2022 380,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 380,000

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 21,376,985 24,288,830 - -
Other debtors 2,224,254 2,499,205 2,567 2,567
Prepayments and accrued income 6,063,870 4,157,165 - -
29,665,109 30,945,200 2,567 2,567

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 16) - 1,887,037 - -
Other loans (see note 16) 458,032 65,333 - -
Trade creditors 12,355,270 14,717,515 - -
Tax 529,406 228,247 - -
Social security and other taxes 444,440 165,448 - -
VAT 211,927 - - -
Other creditors 4,457,859 5,467,270 - -
Directors' current accounts 817,686 939,645 3,685 3,685
Accruals and deferred income 4,032,305 3,867,797 - -
23,306,925 27,338,292 3,685 3,685

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Bank loans (see note 16) 1,633,055 591,201
Other loans (see note 16) 500,889 566,222
2,133,944 1,157,423

16. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 539,994
Bank loans - 1,347,043
Other loans 458,032 65,333
458,032 1,952,370
Amounts falling due between one and two years:
Bank loans - 1-2 years 1,633,055 366,696
Other loans - 1-2 years 65,333 65,333
1,698,388 432,029
Amounts falling due between two and five years:
Bank loans - 2-5 years - 224,505
Other loans - 2-5 years 196,000 196,000
196,000 420,505
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal 239,556 304,889

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,320 Ordinary £0.10 132 132

BREEZELINE INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 08448852)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


18. RESERVES

Group
Retained
earnings
£   

At 1 January 2023 6,555,611
Profit for the year 3,640,352
Dividends (383,764 )
Currency translation profit on
reconversion of foreign
subsidiaries (353,352 )
At 31 December 2023 9,458,847

Company
Retained
earnings
£   

At 1 January 2023 (337 )
Profit for the year 383,620
Dividends (383,764 )
At 31 December 2023 (481 )


19. RELATED PARTY DISCLOSURES

As at the year end, C.B. Charnock was owed £814,000 (2022: £935,960) by the group.

20. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, the ultimate controlling parties as at 31 December 2023 were C B Charnock and J Y Charnock.