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REGISTERED NUMBER: 04851641 (England and Wales)















AMG FORWARDING LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024






AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Income Statement 10

Statement of Financial Position 11

Notes to the Financial Statements 12


AMG FORWARDING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024







DIRECTORS: M S Bigley
A M Griffiths
R G Harris
K Thomas





SECRETARY: A M Griffiths





REGISTERED OFFICE: C73 Shelton Boulevard
Stoke on Trent
Staffordshire
ST1 5GQ





REGISTERED NUMBER: 04851641 (England and Wales)





AUDITORS: Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

STRATEGIC REPORT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024


The directors present their strategic report for the period 1 April 2024 to 31 December 2024.

REVIEW OF BUSINESS
Over the past year the Group has made significant strides in successfully delivering its long-term strategic vision, proactively investing in high-quality services across global supply chains. These investments are delivering immediate and long-lasting commercial benefits to customers.

The Group continues to invest in target companies that add significantly to the efficient movement of products through supply chains from production to consumption anywhere in the world. As new companies join the Group they bring with them knowledge, skills, and experience that contribute significantly. We are delighted to welcome Britam and AMG to the Emerge family during 2024.

This year the Group opened a number of regional offices across the UK as well as Internationally including Türkiye and China. These offices provide local knowledge that supports the Group's wider service offer.

During the year, the Group launched a number of groundbreaking new services that have made a significant impact and set the Group apart from its competitors. Key areas include product procurement, sales execution, and digital optimisation. These additional services are propelling Emerge forward as a leading global supply chain partner for its customers.

As the Group continues to develop its service proposition it continues to attract and retain new customers across all divisions. We continue to invest in our service proposition through technology, processes, and standards to ensure that we remain at the forefront of our markets and peers. This includes operational automation to drive efficiency / productivity, AI technology and continued international expansion.

The Group continues to work proactively to reduce its impact on the environment and continues to work with Carbon Neutral Britain to maintain its Carbon Neutral status. The Group continues to promote the use of electric vehicles, rainwater harvesting, cycle to work schemes, hybrid working and solar across the business to continually manage and reduce the environmental impact that we have. During the year we started trials with electric HGVs.

The Groups commitment to community welfare continues to make an impact through the Emerge Connected initiative. This program benefits hundreds of individuals across our regions of operation through direct investment into local initiatives that our people care passionately about.

People remain at the heart of our Group. We continue to invest in key centralised Group service functions across Finance, Sales and Operations. This investment embeds a strong foundation to support future growth. The skills, knowledge, and commitment that our people demonstrate every day are the cornerstone of our success. We will continue to develop our people and attract new skills and knowledge through targeted recruitment.

The Group continues to invest in high performing, high quality businesses and people. The Group has expanded its relationship with its existing finance partners, enabling it to extend its investment in its freight forward and warehousing divisions. Through our long-term partnerships with Arbuthnot Bank and Beechbrook Capital the Group has the resources to accelerate its investment programme in all divisional areas and will seek to do so through 2025.

REVIEW OF THE BUSINESS (CONTINUED)
The company is part of the Emerge Global Limited group of companies and therefore its results are included in the parents consolidated financial statements.

For reference the directors would like to present the combined annual results of the consolidated group below:


AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

STRATEGIC REPORT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

REVIEW OF THE BUSINESS (CONTINUED)
Performance of the business for the year
2024 2023
£    £   
Turnover 51,515 20,374
Profit before tax 356 657
Add back net interest 1,151 411
Consolidated operating profit 1,507 1,068
Add back amortisation 1,258 476
Add Back depreciation 900 415
Add back exceptional items included administrative expenses * 728 436
Consolidated EBITDA before exceptional items 4,394 2,395
Consolidated EBITDA before exceptional items margin 8.5% 11.8%
* Exceptional items include one-off costs in relation to restructuring, personnel
cost and premises dilapidation costs.

Cash generated from operations 1,375 1,380
Cash conversion ratio 31.2% 57.6%

Trade debtors 9,068 3,712
Lock up days at year end 64.2 Days 66.5 Days

Net group borrowing
Senior debt 11,200 4,213
Finance lease liabilities 929 1,124
Less: Cash at bank (4,566 ) (1,130 )
Net third party borrowings 7,623 4,207
Loan notes and credit vendor loans 12,974 1,020
Net indebtedness 20,537 5,227

The directors are encouraged by the results of the KPIs above which exceed initial budgets and they are confident that growth will continue during the next financial year. In addition, if the businesses acquired during the year had been part of the group for the full financial year the consolidated turnover and EBITDA would have been as illustrated below:


AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

STRATEGIC REPORT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

REVIEW OF THE BUSINESS (CONTINUED)
2024 2023
£    £   
Consolidated turnover, as above 51,515 20,374
Prior period pre-acquisition turnover - 6,744
Pre acquisition turnover (Britam Shipping Limited) 8,443 -
Pre acquisition turnover (AMG Fulfilment Group) 3,722 -
Adjusted consolidated turnover including a full financial year of acquired businesses 63,680 27,118

Consolidated EBITDA before exceptional items as above 4,394 2,395
Prior period pre-acquisition EBITDA - 760
Pre acquisition EBITDA (Britam Shipping Limited) 302 -
Pre acquisition EBITDA (AMG Fulfilment Group) 594 -
Adjusted consolidated EBITDA before exceptional items including a full financial year of
acquired businesses

5,290

3,155
Adjusted consolidated EBITDA before exceptional items margin 8.3% 11.6%

The adjusted consolidated revenue and EBITDA illustrated above are based on the results extracted from the unaudited management accounts for each entity from 1 January 2024 (1 January 2023) to the month of acquisition.

ON BEHALF OF THE BOARD:





M S Bigley - Director


26 June 2025

AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the period 1 April 2024 to 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of other transportation support.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

A M Griffiths
K Thomas

Other changes in directors holding office are as follows:

M S Bigley - appointed 29 October 2024
R G Harris - appointed 29 October 2024

POLITICAL DONATIONS AND EXPENDITURE
Charitable donations of £5,000 (31/03/2024: £3,700) have been made during the period.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 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;
-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.

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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Folkes Worton LLP, having been appointed during the period, will be proposed for re-appointment at the forthcoming Annual General Meeting.


AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M S Bigley - Director


26 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AMG FORWARDING LIMITED


Opinion
We have audited the financial statements of AMG Forwarding Limited (the 'company') for the period ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position and 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 company's affairs as at 31 December 2024 and of its profit for the period 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 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 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 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.

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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AMG FORWARDING LIMITED


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 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, 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 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; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 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.

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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, its group and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AMG FORWARDING LIMITED


In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which include:

- Enquire of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
-Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher then for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

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.




John Hegney (Senior Statutory Auditor)
for and on behalf of Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

26 June 2025

AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

INCOME STATEMENT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

Period
1/4/24
to Year Ended
31/12/24 31/3/24
(Unaudited)
Notes £    £   

TURNOVER 4,928,634 6,527,801

Cost of sales 1,450,397 2,134,368
GROSS PROFIT 3,478,237 4,393,433

Administrative expenses 2,604,408 2,944,142
OPERATING PROFIT 4 873,829 1,449,291

Interest receivable and similar income 3,908 20,067
PROFIT BEFORE TAXATION 877,737 1,469,358

Tax on profit 231,102 273,384
PROFIT FOR THE FINANCIAL PERIOD 646,635 1,195,974

AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2024
(Unaudited)
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 837,060 1,086,167

CURRENT ASSETS
Debtors 6 2,406,625 1,570,256
Cash at bank and in hand 754,025 975,727
3,160,650 2,545,983
CREDITORS
Amounts falling due within one year 7 890,916 1,123,414
NET CURRENT ASSETS 2,269,734 1,422,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,106,794

2,508,736

PROVISIONS FOR LIABILITIES 65,768 114,345
NET ASSETS 3,041,026 2,394,391

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,041,024 2,394,389
3,041,026 2,394,391

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:





M S Bigley - Director


AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024


1. STATUTORY INFORMATION

AMG Forwarding 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold-10% on cost or over the life of the lease if shorter
Plant and machinery-25% on cost
Fixtures and fittings-25% on cost
Motor vehicles-27.5% on reducing balance
Computer equipment-25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset and is credited or charged to profit or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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.

AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 31 (2024 - 31 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1/4/24
to Year Ended
31/12/24 31/3/24
(Unaudited)
£    £   
Depreciation - owned assets 253,605 224,147

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 1,418,385
Additions 4,498
At 31 December 2024 1,422,883
DEPRECIATION
At 1 April 2024 332,218
Charge for period 253,605
At 31 December 2024 585,823
NET BOOK VALUE
At 31 December 2024 837,060
At 31 March 2024 1,086,167

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
(Unaudited)
£    £   
Trade debtors 805,444 1,098,745
Amounts owed by group undertakings 1,063,122 -
Other debtors 538,059 471,511
2,406,625 1,570,256

AMG FORWARDING LIMITED (REGISTERED NUMBER: 04851641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
(Unaudited)
£    £   
Bank loans and overdrafts 534,208 -
Trade creditors 105,034 111,356
Amounts owed to group undertakings - 750,000
Taxation and social security 234,160 215,687
Other creditors 17,514 46,371
890,916 1,123,414

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2024
(Unaudited)
£    £   
Within one year 31,200 -
Between one and five years 31,200 -
62,400 -

9. ULTIMATE CONTROLLING PARTY

The intermediate controlling party is AMG Fulfilment Logistics Limited whilst the ultimate controlling party is Emerge Global Limited.