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Registered number: 01807048
Trans Global Projects Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Company Information 1
Strategic Report 2
Directors' Report 3—4
Independent Auditor's Report 5—7
Profit and Loss Account 8
Statement of Comprehensive Income 9
Balance Sheet 10—11
Statement of Changes in Equity 12
Statement of Cash Flows 13
Notes to the Statement of Cash Flows 14
Notes to the Financial Statements 15—22
Page 1
Company Information
Directors C B Charnock
A M Herbert
M R Jackson
S R Duke
Company Number 01807048
Registered Office Suffolk House, Ground Floor (East)
High Street
Sevenoaks
Kent
TN13 1XE
Auditors Crane & Partners
Leonard House
5-7 Newman Road
Bromley
Kent
BR1 1RJ
Page 1
Page 2
Strategic Report
The directors present their strategic report for the year ended 31 December 2024.
Principal Activity
The company's principal activity continues to be that of project logistics management.
Review of the Business
The company considers its key performance indicators to be turnover,  operating profit and cash reserves.
During the current year, turnover increased to £20,013,600 (2023: £19,379,518).
The gross profit margin has improved, increasing from 21% in 2023 to 22% in 2024.
The company is confident that a combination of management fees, existing business and new business won will result in profitable trading in 2025.
Administration costs of £3,467,575 have increased compared to last year (2023: £2,900,483). One of the main reasons for the increase in administration costs was the increased number of employees required as a result of the increased amount of business being carried on by Trans Global Projects Group Ltd.
The operating profit for the year was £1,015,219 (2023: £1,196,572).
Principal Risks and Uncertainties
The company faces a number of risks and uncertainties within the industry it operates in. Many of the projects won are for logistics scopes of work for large infrastructure projects. Delays in investment decisions or cancelled projects can lead to delay or cancellation in business. Many customers, particularly those based overseas, are demanding long payment terms sometimes in the region of 90-120 days. This can impact on the working capital of the company and stretch its cash resources.
Reserves
Retained reserves of £3,052,185 at the year end  (2023: £2,737,678) indicated a increase of 11% compared to the previous year.
Cashflow and liquidity
There was a net decrease in cash of £325,663. The company's liquidity has increased resulting in the net current assets ratio being 1.87 compared with 1.50 in the previous year. It is expected that liquidity will increase in 2025 on the back of an expected profitable year.
On behalf of the board
A M Herbert
Director
9 June 2025
Page 2
Page 3
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Dividends
The value of dividends paid amounted to £422,709 .
Directors
The directors who held office during the year were as follows:
C B Charnock
A M Herbert
M R Jackson
S R Duke
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Independent Auditors
The auditors, Crane & Partners, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
A M Herbert
Director
9 June 2025
Page 4
Page 5
Independent Auditor's Report
Opinion
We have audited the financial statements of Trans Global Projects Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's 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. 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.
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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
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Page 6
Matters on Which We Are Required to Report by Exception
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.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or 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 Directors' Responsibilities Statement set out on page 3, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.
Auditor's 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 an auditor's 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Based on our understanding of the company 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 www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 6
Page 7
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 that we are required to state to them in an auditor's 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.
Raymond McDonagh FCA (Senior Statutory Auditor)
for and on behalf of Crane & Partners , Statutory Auditor
9 June 2025
Crane & Partners
Leonard House
5-7 Newman Road
Bromley
Kent
BR1 1RJ
Page 7
Page 8
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 3 20,013,600 19,379,518
Cost of sales (15,530,806 ) (15,282,463 )
GROSS PROFIT 4,482,794 4,097,055
Administrative expenses (3,467,575 ) (2,900,483 )
OPERATING PROFIT 4 1,015,219 1,196,572
Loss on disposal of fixed assets - (1,825 )
Interest payable and similar charges 9 (16,701 ) (16,373 )
PROFIT BEFORE TAXATION 998,518 1,178,374
Tax on Profit 10 (261,302 ) (285,186 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 737,216 893,188
The notes on pages 14 to 22 form part of these financial statements.
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Statement of Comprehensive Income
2024 2023
£ £
PROFIT FOR THE FINANCIAL YEAR 737,216 893,188
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 737,216 893,188
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Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 11 28,990 50,287
Tangible Assets 12 24,713 24,099
Investment Properties 13 380,000 380,000
Investments 14 11,000 20,000
444,703 474,386
CURRENT ASSETS
Debtors 15 6,317,722 7,842,297
Cash at bank and in hand 417,185 742,848
6,734,907 8,585,145
Creditors: Amounts Falling Due Within One Year 16 (3,591,869 ) (5,720,964 )
NET CURRENT ASSETS (LIABILITIES) 3,143,038 2,864,181
TOTAL ASSETS LESS CURRENT LIABILITIES 3,587,741 3,338,567
Creditors: Amounts Falling Due After More Than One Year 17 (435,556 ) (500,889 )
NET ASSETS 3,152,185 2,837,678
CAPITAL AND RESERVES
Called up share capital 19 100,000 100,000
Profit and Loss Account 3,052,185 2,737,678
SHAREHOLDERS' FUNDS 3,152,185 2,837,678
Page 10
Page 11
On behalf of the board
A M Herbert
Director
M R Jackson
Director
9 June 2025
The notes on pages 14 to 22 form part of these financial statements.
Page 11
Page 12
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2023 100,000 2,228,254 2,328,254
Profit for the year and total comprehensive income - 893,188 893,188
Dividends paid - (383,764) (383,764)
As at 31 December 2023 and 1 January 2024 100,000 2,737,678 2,837,678
Profit for the year and total comprehensive income - 737,216 737,216
Dividends paid - (422,709) (422,709)
As at 31 December 2024 100,000 3,052,185 3,152,185
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Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 442,631 926,619
Interest paid (16,701 ) (16,373 )
Tax paid (284,897 ) (214,503 )
Net cash generated from operating activities 141,033 695,743
Cash flows from investing activities
Purchase of intangible assets (3,400 ) (10,554 )
Purchase of tangible assets (11,593 ) (8,061 )
Purchase of other fixed asset investments - (20,000 )
Proceeds from disposal of other fixed asset investments - 10,000
Net cash used in investing activities (14,993 ) (28,615 )
Cash flows from financing activities
Equity dividends paid (422,709 ) (383,764 )
Proceeds from new other loans 102,419 -
Repayment of other loans (65,333) (65,333)
Amount withdrawn by directors (66,080) (108,331)
Net cash used in financing activities (451,703 ) (557,428 )
(Decrease)/increase in cash and cash equivalents (325,663 ) 109,700
Cash and cash equivalents at beginning of year 2 742,848 633,148
Cash and cash equivalents at end of year 2 417,185 742,848
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 737,216 893,188
Adjustments for:
Tax on profit 261,302 285,186
Interest expense 16,701 16,373
Amortisation of intangible assets 24,697 30,236
Depreciation of tangible assets 10,979 10,885
Provisions of fixed asset investments 9,000 -
Loss on disposal of tangible assets - 1,825
Movements in working capital:
Decrease in trade and other debtors 1,524,575 33,287
Decrease in trade and other creditors (2,141,839 ) (344,361 )
Net cash generated from operations 442,631 926,619
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 417,185 742,848
3. Analysis of changes in net funds/(debt)
As at 1 January 2024 Cash flows As at 31 December 2024
£ £ £
Cash at bank and in hand 742,848 (325,663) 417,185
Debts falling due within one year (65,333 ) (102,419) (167,752 )
Debts falling due after more than one year (500,889) 65,333 (435,556)
176,626 (362,749) (186,123)
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Notes to the Financial Statements
1. General Information
Trans Global Projects Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01807048 . The registered office is Suffolk House, Ground Floor (East), High Street, Sevenoaks, Kent, TN13 1XE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Income from freight forwarding is recognised on performance of the contract.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Furniture, fixtures and equipment 25% on cost
Computer Equipment 20% on cost
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Investments
Investments are measured at fair value with any changes in fair value recognised in the profit and loss account.
2.7. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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2.9. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.10. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.11. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
The company has 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 "Employer Benefit Trusts and other intermediate payment arrangements", the company 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.
2.12. Deferred costs
Costs associated with clearly defined projects, the outcome of which has been assessed with reasonable certainty as to their ultimate commercial viability, and where the aggregate related future revenue is reasonably expected to substantially exceed aggregate costs incurred to date, are carried forward to succeeding accounting periods.
3. Turnover
No geographical analysis of turnover is given as, in the opinion of the directors, this information would be prejudicial to the interests of the company.
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4. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts 24,671 (128,782)
Depreciation of tangible fixed assets 10,979 10,885
Amortisation of intangible fixed assets 24,697 30,236
5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 21,000 17,486
6. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 1,943,652 1,835,604
Other pension costs 197,699 139,439
2,141,351 1,975,043
7. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2023: 29)
30 29
8. Directors' remuneration
2024 2023
£ £
Emoluments 126,858 126,858
Company contributions to money purchase pension schemes 78,084 38,642
204,942 165,500
The number of directors to whom retirement benefits were accruing was as follows:
2024 2023
Money purchase pension schemes 2 2
Information regarding the highest paid director was as follows:
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2024 2023
£ £
Emoluments 60,000 -
Company contributions to money purchase pension schemes 49,148 -
109,148 -
9. Interest Payable and Similar Charges
2024 2023
£ £
Other finance charges 16,701 16,373
10. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 23.5% 261,302 284,986
Prior period adjustment - 200
261,302 285,186
Total tax charge for the period 261,302 285,186
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 998,518 1,178,374
Tax on profit at 25% (UK standard rate) 249,629 277,153
Expenses not deductible for tax purposes 14,957 12,978
Capital allowances (3,284 ) (5,145 )
Prior period adjustment - 200
Total tax charge for the period 261,302 285,186
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11. Intangible Assets
Other
£
Cost
As at 1 January 2024 163,736
Additions 3,400
As at 31 December 2024 167,136
Amortisation
As at 1 January 2024 113,449
Provided during the period 24,697
As at 31 December 2024 138,146
Net Book Value
As at 31 December 2024 28,990
As at 1 January 2024 50,287
12. Tangible Assets
Furniture, fixtures and equipment Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 32,197 101,356 133,553
Additions 4,009 7,584 11,593
As at 31 December 2024 36,206 108,940 145,146
Depreciation
As at 1 January 2024 28,939 80,515 109,454
Provided during the period 2,219 8,760 10,979
As at 31 December 2024 31,158 89,275 120,433
Net Book Value
As at 31 December 2024 5,048 19,665 24,713
As at 1 January 2024 3,258 20,841 24,099
13. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 380,000
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14. Investments
Listed
£
Cost
As at 1 January 2024 20,000
As at 31 December 2024 20,000
Provision
As at 1 January 2024 -
Added in period 9,000
As at 31 December 2024 9,000
Net Book Value
As at 31 December 2024 11,000
As at 1 January 2024 20,000
15. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,870,098 4,194,872
Amounts recoverable on contracts - 106,068
Prepayments and accrued income 1,401,554 1,863,009
Other debtors 867 13,714
VAT 117,672 136,033
Amounts owed by group undertakings 1,927,531 1,528,601
6,317,722 7,842,297
16. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,630,501 3,060,945
Other loans 167,752 65,333
Corporation tax 261,393 284,988
Other taxes and social security 102,528 90,213
Accruals and deferred income 625,034 1,473,749
Directors' loan accounts 400,364 466,444
Amounts owed to group undertakings 404,297 279,292
3,591,869 5,720,964
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17. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 435,556 500,889
18. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Other loans 167,752 65,333
2024 2023
£ £
Amounts falling due between one and five years:
Other loans 435,556 500,889
19. Share Capital
2024 2023
Allotted, called up and fully paid £ £
60,000 Ordinary A shares of £ 1.00 each 60,000 60,000
40,000 Ordinary B shares of £ 1.00 each 40,000 40,000
100,000 100,000
20. Pension Commitments
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.
During the year the charge to profit or loss in respect of defined contribution schemes was £197,699 (2023: £139,439).
21. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 422,709 383,764
22. Related Party Disclosures
As at the year end the directors were owed a total of £400,364 by the company (2023: £466,444).
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23. Controlling Parties
The company is a wholly owned subsidiary of Trans Global Projects Group Limited, a company incorporated in the United Kingdom.
The ultimate parent company is Breezeline International Group Limited.
The ultimate controlling parties are C B Charnock and J Y Charnock.
24. Secured debts
Lloyds Bank hold the first legal charge over the investment property.  Barclays bank hold a charge over a credit balance dated 20 June 2018.
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