Breezeline International Group Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Consolidated Profit and Loss Account	7
Consolidated Statement of Comprehensive Income	8
Consolidated Balance Sheet	9—10
Company Balance Sheet	11
Consolidated Statement of Changes in Equity	12
Company Statement of Changes in Equity	13
Consolidated Statement of Cash Flows	14
Notes to the Consolidated Statement of Cash Flows	15
Company Statement of Cash Flows	16
Notes to the Company Statement of Cash Flows	17
Notes to the Financial Statements	18—29

The directors present their strategic report for the year ended 31 December 2024.

Review of the Business

During the current year, the level of turnover has increased by 26%. The gross profit margin has increased from 14.25% in the previous year to 17.07% for the current year.

The Group profit for the year before taxation was £7,719,737 (2023: £5,047,813).

Reserves

Retained reserves of £14,808,376 at the year end indicated an increase of 57% compared with the previous year.

Cash Flow and Liquidity

Cash flow was in line with expectations, with a net increase in cash of £1,118,765. The groups net current asset ratio was 1.69 at the year end (2023: 1.47).

On behalf of the board

A M Herbert

Director

10 September 2025

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Breezeline International Group Limited

Company No. 08448852

Directors' Report For The Year Ended 31 December 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2024.

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 value of dividends paid amounted to £422,709 .

The directors recommended a final dividend of £NIL .

Directors

The directors who held office during the year were as follows:

C B Charnock

J Y Charnock

S R Duke

A M Herbert

M R Jackson

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 the group and of the profit or loss of the group 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 and 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.

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.

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Breezeline International Group Limited

Directors' Report (continued)

For The Year Ended 31 December 2024

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 and group'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 and group's auditors are aware of that information.

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

10 September 2025

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Independent Auditor's Report

to the Members of

Breezeline International Group Limited

Independent Auditor's Report

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 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement, Company 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 group's and of the parent company's affairs as at 31 December 2024 and of the group's profit/(loss) 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 group and parent 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 group and parent company'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.

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Independent Auditor's Report (continued)

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 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.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their 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 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 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 2—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 group and 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.

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Independent Auditor's Report (continued)

to the Members of

Breezeline International Group Limited

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 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 www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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

10 September 2025

Crane & Partners

Leonard House

5-7 Newman Road

Bromley

Kent

BR1 1RJ

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Breezeline International Group Limited

Consolidated Profit and Loss Account

For The Year Ended 31 December 2024

Consolidated Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER		152,764,681	121,276,523
Cost of sales		(126,680,916 )	(103,988,858 )

GROSS PROFIT		26,083,765	17,287,665

Administrative expenses		(18,166,985 )	(12,074,141 )

OPERATING PROFIT	3	7,916,780	5,213,524
Loss on disposal of fixed assets		-	(1,825 )
Other interest receivable and similar income	8	-	7,189
Interest payable and similar charges	9	(197,043 )	(171,075 )

PROFIT BEFORE TAXATION		7,719,737	5,047,813
Tax on Profit	10	(1,502,040 )	(1,364,000 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		6,217,697	3,683,813


Profit attributable to:
Owners of the parent		6,041,404	3,640,352
Non-controlling interest		176,293	43,461

		6,217,697	3,683,813

The notes on pages 15 to 29 form part of these financial statements.

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Breezeline International Group Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 December 2024

Consolidated Statement of Comprehensive Income

	2024	2023
	£	£
PROFIT FOR THE FINANCIAL YEAR	6,217,697	3,683,813
OTHER COMPREHENSIVE INCOME:
Loss due to foreign exchange differences	(269,166 )	(353,352 )

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	5,948,531	3,330,461


Total comprehensive income attributable to:
Owners of the parent	5,772,238	3,287,000
Non-controlling interest	176,293	43,461

	5,948,531	3,330,461

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Breezeline International Group Limited

Consolidated Balance Sheet

As At 31 December 2024

Consolidated Balance Sheet

Registered number: 08448852

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	11		89,424		134,797
Tangible Assets	12		334,081		287,811
Investment Properties	13		380,000		380,000
Investments	14		11,000		20,000

			814,505		822,608
CURRENT ASSETS
Debtors	15	35,313,685		29,665,109
Cash at bank and in hand		5,646,427		4,527,662

		40,960,112		34,192,771
Creditors: Amounts Falling Due Within One Year	16	(24,233,539 )		(23,306,926 )

NET CURRENT ASSETS (LIABILITIES)			16,726,573		10,885,845

TOTAL ASSETS LESS CURRENT LIABILITIES			17,541,078		11,708,453

Creditors: Amounts Falling Due After More Than One Year	17		(2,440,747 )		(2,133,944 )

NET ASSETS			15,100,331		9,574,509

CAPITAL AND RESERVES
Called up share capital	19		132		132
Profit and Loss Account			14,808,376		9,458,847

Equity attributable to owners of the parent			14,808,508		9,458,979
Non-controlling interest			291,823		115,530

TOTAL EQUITY			15,100,331		9,574,509

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Breezeline International Group Limited

Consolidated Balance Sheet (continued)

As At 31 December 2024

On behalf of the board

A M Herbert Director	M R Jackson Director
10 September 2025

The notes on pages 15 to 29 form part of these financial statements.

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Breezeline International Group Limited

Company Balance Sheet

As At 31 December 2024

Company Balance Sheet

Registered number: 08448852

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	14		120		120

			120		120
CURRENT ASSETS
Debtors	15	2,567		2,567
Cash at bank and in hand		6,658		649

		9,225		3,216
Creditors: Amounts Falling Due Within One Year	16	(10,138 )		(3,685 )

NET CURRENT ASSETS (LIABILITIES)			(913 )		(469 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(793 )		(349 )

NET LIABILITIES			(793 )		(349 )

CAPITAL AND RESERVES
Called up share capital	19		132		132
Profit and Loss Account			(925 )		(481 )

SHAREHOLDERS' FUNDS			(793)		(349)

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 422,265 (2023: £ 383,620 profit).

On behalf of the board

A M Herbert Director	M R Jackson Director
10 September 2025

The notes on pages 15 to 29 form part of these financial statements.

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Breezeline International Group Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 December 2024

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total Attributable to Parent	Non-controlling interest	Total
	£	£	£	£	£
As at 1 January 2023	132	6,555,611	6,555,743	72,069	6,627,812
Profit for year	-	3,640,352	3,640,352	43,461	3,683,813

Currency translation profit on reconversion of foreign subsidiaries	-	(353,352)	(353,352)	-	(353,352)

Other comprehensive income for the year	-	(353,352 )	(353,352 )	-	(353,352 )

Total comprehensive income for the year	-	3,287,000	3,287,000	43,461	3,330,461

Dividends paid	-	(383,764)	(383,764)	-	(383,764)

As at 31 December 2023 and 1 January 2024	132	9,458,847	9,458,979	115,530	9,574,509


Profit for year	-	6,041,404	6,041,404	176,293	6,217,697

Currency translation profit on reconversion of foreign subsidiaries	-	(269,166)	(269,166)	-	(269,166)

Other comprehensive income for the year	-	(269,166 )	(269,166 )	-	(269,166 )

Total comprehensive income for the year	-	5,772,238	5,772,238	176,293	5,948,531

Dividends paid	-	(422,709)	(422,709)	-	(422,709)

As at 31 December 2024	132	14,808,376	14,808,508	291,823	15,100,331

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Breezeline International Group Limited

Company Statement of Changes in Equity

For The Year Ended 31 December 2024

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2023	132	(337 )	(205)
Profit for the year and total comprehensive income	-	383,620	383,620

Dividends paid	-	(383,764)	(383,764)

As at 31 December 2023 and 1 January 2024	132	(481 )	(349)


Profit for the year and total comprehensive income	-	422,265	422,265

Dividends paid	-	(422,709)	(422,709)

As at 31 December 2024	132	(925 )	(793)

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Breezeline International Group Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 December 2024

Consolidated Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	3,739,657	3,593,619
Interest paid		(197,043 )	(171,075 )
Tax paid		(1,770,053 )	(1,062,841 )

Net cash generated from operating activities		1,772,561	2,359,703

Cash flows from investing activities
Purchase of intangible assets		(3,400 )	(10,553 )
Purchase of tangible assets		(161,332 )	(255,580 )
Proceeds from disposal of tangible assets		1,572	2,145
Purchase of other fixed asset investments		-	(20,000 )
Proceeds from disposal of other fixed asset investments		-	10,000
Interest received		-	7,189

Net cash used in investing activities		(163,160 )	(266,799 )

Cash flows from financing activities
Equity dividends paid		(422,709 )	(383,764 )
Proceeds from new bank borrowings		65,672	-
Repayment of bank borrowings		(91,397 )	(305,189 )
Proceeds from new other loans		107,581	392,699
Repayment of other loans		(65,333)	(65,333)
Amount withdrawn by directors		(84,450)	(121,959)

Net cash used in financing activities		(490,636 )	(483,546 )



Increase in cash and cash equivalents		1,118,765	1,609,358
Cash and cash equivalents at beginning of year	2	4,527,662	2,918,304

Cash and cash equivalents at end of year	2	5,646,427	4,527,662

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Breezeline International Group Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 December 2024

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2024	2023
	£	£
Profit for the financial year	6,217,697	3,683,813
Adjustments for:
Tax on profit	1,502,040	1,364,000
Interest expense	197,043	171,075
Interest income	-	(7,189 )
Amortisation of intangible assets	46,279	51,817
Impairment of intangible assets	9,000	-
Depreciation of tangible assets	109,519	122,081
Loss on disposal of tangible assets	-	1,825
Foreign exchange gains	(262,701)	(357,665)
Movements in working capital:
(Increase)/decrease in trade and other debtors	(5,648,576 )	1,280,091
Increase/(decrease) in trade and other creditors	1,569,356	(2,716,229 )

Net cash generated from operations	3,739,657	3,593,619

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	5,646,427	4,527,662

3. Analysis of changes in net funds

	As at 1 January 2024	Cash flows	As at 31 December 2024
	£	£	£
Cash at bank and in hand	4,527,662	1,118,765	5,646,427
Debts falling due within one year	(458,032 )	290,280	(167,752 )
Debts falling due after more than one year	(2,133,944)	(306,803)	(2,440,747)

	1,935,686	1,102,242	3,037,928

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Breezeline International Group Limited

Company Statement of Cash Flows

For The Year Ended 31 December 2024

Company Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from/(used in) operations	1	6,009	(144 )

Net cash generated from/(used in) operating activities		6,009	(144 )

Cash flows from investing activities
Dividends received		422,709	383,764

Cash flows from financing activities
Equity dividends paid		(422,709 )	(383,764 )



Increase/(decrease) in cash and cash equivalents		6,009	(144 )
Cash and cash equivalents at beginning of year	2	649	793

Cash and cash equivalents at end of year	2	6,658	649

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Breezeline International Group Limited

Notes to the Company Statement of Cash Flows

For The Year Ended 31 December 2024

Notes to the Company Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from/(used in) operations

	2024	2023
	£	£
Profit for the financial year	422,265	383,620
Adjustments for:
Income from shares in group undertakings	(422,709)	(383,764)
Movements in working capital:
Increase in trade and other creditors	6,453	-

Net cash generated from/(used in) operations	6,009	(144 )

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	6,658	649

3. Analysis of changes in net funds

	As at 1 January 2024	Cash flows	As at 31 December 2024
	£	£	£
Cash at bank and in hand	649	6,009	6,658

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Breezeline International Group Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Breezeline International Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08448852 . 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. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2024.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

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

2.5. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill arising on the acquisition of subsidiaries is included in Intangible Assets. Goodwill arising on the acquisition of associates and joint ventures is included in the related equity accounted investment value.

Goodwill is amortised over its expected useful life which is estimated to be 10 years.

Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the profit and loss account. No reversals of impairment are recognised.

2.6. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are computer software. It is amortised to the profit and loss account over its estimated economic life of 5 years.

2.7. 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:

Motor Vehicles	20% on cost
Furniture, fixtures and equipment	25% on cost and 20% on reducing balance
Computer Equipment	20% on cost

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. 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.

2.9. Investments

Investments are measured at fair value with any changes in fair value recognised in the profit and loss account.

2.10. 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.

2.11. 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.

2.12. 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 group'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.

2.13. Pensions

The group 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.

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.14. 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 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.

3. Operating Profit

The operating profit is stated after charging:

	2024	2023
	£	£
Bad debts	212,402	(134,721)
Depreciation of tangible fixed assets	109,519	122,081
Amortisation of intangible fixed assets	46,279	51,817

4. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	21,000	21,572

5. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Wages and salaries	12,344,250	6,710,141	47,218	-
Other pension costs	503,082	324,858	3,529	-

	12,847,332	7,034,999	50,747	-

6. Average Number of Employees

Group

Average number of employees, including directors, during the year was: 170 (2023: 129)

Company

Average number of employees, including directors, during the year was: 5 (2023: 5)

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. 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:

	2024	2023
	£	£
Emoluments	60,000	60,000
Company contributions to money purchase pension schemes	49,148	31,401

	109,148	91,401

8. Interest Receivable and Similar Income

	2024	2023
	£	£
Other interest receivable	-	7,189

9. Interest Payable and Similar Charges

	2024	2023
	£	£
Other finance charges	197,043	171,075

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Tax on Profit

	Tax Rate		2024	2023
The tax charge on the profit for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	25.0%	23.5%	261,302	326,036
Foreign tax			1,240,738	1,037,964

			1,502,040	1,364,000


Total tax charge for the period			1,502,040	1,364,000


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			7,719,737	5,047,813

Tax on profit at 25% (UK standard rate)			1,929,934	1,186,236
Goodwill/depreciation not allowed for tax			2,745	2,989
Expenses not deductible for tax purposes			12,212	9,981
Capital allowances			(3,284 )	(5,145 )
Difference in tax rates			-	1,037
Dividends from companies			(105,677 )	(90,263 )
Tax losses unutilised carried forward			111	34
Foreign tax rates			(322,408 )	273,127
Double taxation relief			(11,593 )	(13,996 )

Total tax charge for the period			1,502,040	1,364,000

11. Intangible Assets

Group

	Goodwill	Other	Total
	£	£	£
Cost or Valuation
As at 1 January 2024	1,257,134	157,952	1,415,086
Additions	-	3,400	3,400
Revaluations	-	(2,494 )	(2,494 )

As at 31 December 2024	1,257,134	158,858	1,415,992

...CONTINUED

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Amortisation
As at 1 January 2024	1,175,118	105,171	1,280,289
Provided during the period	21,582	24,697	46,279

As at 31 December 2024	1,196,700	129,868	1,326,568

Net Book Value
As at 31 December 2024	60,434	28,990	89,424

As at 1 January 2024	82,016	52,781	134,797

Company

The company had no intangible fixed assets as at 31 December 2024 or 31 December 2023.

12. Tangible Assets

Group

	Motor Vehicles	Furniture, fixtures and equipment	Computer Equipment	Total
	£	£	£	£
Cost or Valuation
As at 1 January 2024	57,948	1,027,456	171,312	1,256,716
Additions	50,136	88,077	23,119	161,332
Disposals	-	(4,356 )	-	(4,356 )
Revaluation	(1,511 )	(248 )	(2,212 )	(3,971 )

As at 31 December 2024	106,573	1,110,929	192,219	1,409,721

Depreciation
As at 1 January 2024	37,727	819,141	112,037	968,905
Provided during the period	7,556	78,853	23,110	109,519
Disposals	-	(2,784 )	-	(2,784 )

As at 31 December 2024	45,283	895,210	135,147	1,075,640

Net Book Value
As at 31 December 2024	61,290	215,719	57,072	334,081

As at 1 January 2024	20,221	208,315	59,275	287,811

Company

The company had no tangible fixed assets as at 31 December 2024 or 31 December 2023.

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Investment Property

Group

	2024
	£
Fair Value
As at 1 January 2024 and 31 December 2024	380,000

Company

The company had no investment property as at 31 December 2024 or 31 December 2023.

14. Investments

Group

	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

Company

	Subsidiaries
	£
Cost
As at 1 January 2024	120

As at 31 December 2024	120

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	120

As at 1 January 2024	120

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Subsidiaries

Details of the group's subsidiaries as at 31 December 2024 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Trans Global Projects Group Limited	Suffolk House, Ground Floor (East), High Street, Sevenoaks, Kent, TN13 1XE	Ordinary	100.00%	-
Trans Global Projects Limited	Suffolk House, Ground Floor (East), High Street, Sevenoaks, Kent, TN13 1XE	Ordinary	-	100.00%
Trans Global Projects AG	Oberglatterstrasse 35, CH-8153 Rumlang, Switzerland	Ordinary	-	100.00%
Trans Gobal Holdings (Switzerland) AG	Europastrasse 18, CH-8152 Glattbrugg, Zurich, Switzerland	Ordinary	-	100.00%
Natco AG Internationale Transporte	Oberglatterstrasse 35, CH-8153 Rumlang, Switzerland	Ordinary	-	100.00%
Trans Global Projects Logistics Pty Limited	Level 6, 37 St Georges Terrace, Perth WA 6000	Ordinary	-	100.00%
TGP Logistics Pty Limited	Buidling 5, Lakes Vista Office Park, 2-4 Flinders Parade, Northlakes, QLD 4509	Ordinary	-	100.00%
TGP Logistics Inc	16945 Northchase Dr., Suite 1475, Houston, TX 77060	Ordinary	-	100.00%
TGP Brasil LTDA	Rua Arandu, 281 - Cj. 91, BR-04562-030, Brooklin, São Paulo	Ordinary	-	80.00%
Natco GmbH Internationale Spedition	Diepenau 2, 28195 Bremen	Ordinary	-	100.00%
Trans Global Projects GmbH	Diepenau 2, 28195 Bremen	Ordinary	-	100.00%
Trans Global Projects B.V.	Hofplein 20, 3032 AC Rotterdam	Ordinary	-	100.00%
TransGlobal Projects Middle East FZC	HDS Business Centre, Cluster M, Unit 2503, Jumeirah Lakes Towers, Dubai	Ordinary	-	100.00%
TGP Logistics DMCC	HDS Business Centre, Cluster M, Unit 2503, Jumeirah Lakes Towers, Dubai	Ordinary	-	100.00%
Trans Global Projects Group Limited (SAR)	NJRC Building 5391, 1st Floor, Al Amir Mohammad Bin Saud Street, Dammam 32241	Ordinary	-	100.00%
TGP Projects LLC	PO Box 1932, PC 133, Al Khuwair, Muscat, Sultanate of Oman	Ordinary	-	60.00%
Trans Global Projects Logistics PTE Limited	1 Paya Lebar Link, 04-01 Paya Lebar Quarter,Singapore 408533	Ordinary	-	100.00%
TGP Azerbaijan LLC	Marine Plaza Premium Offices, Fl.8, Uzeyir Hajibeyli Street 62, Baku - AZ 1010	Ordinary	-	100.00%

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

	Capital and Reserves	Profit/(loss)
	£	£
Trans Global Projects Group Limited	570,098	468,733
Trans Global Projects Limited	3,152,185	737,216
Trans Global Projects AG	302,195	69,612
Trans Gobal Holdings (Switzerland) AG	1,793,706	(41,077 )
Natco AG Internationale Transporte	4,032,122	946,765
Trans Global Projects Logistics Pty Limited	2,281,704	518,054
TGP Logistics Pty Limited	643,405	331,901
TGP Logistics Inc	709,335	834,301
TGP Brasil LTDA	1,201,380	943,146
Natco GmbH Internationale Spedition	400,598	135,953
Trans Global Projects GmbH	667,148	106,711
Trans Global Projects B.V.	3,455	45,946
TransGlobal Projects Middle East FZC	2,696,538	524,398
TGP Logistics DMCC	349,759	-
Trans Global Projects Group Limited (SAR)	430,062	339,190
TGP Projects LLC	128,868	2,057
Trans Global Projects Logistics PTE Limited	39,652	96,383
TGP Azerbaijan LLC	68,057	69,941

15. Debtors

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Due within one year
Trade debtors	23,525,124	21,376,985	-	-
Other debtors	11,788,561	8,288,124	2,567	2,567

	35,313,685	29,665,109	2,567	2,567

16. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Trade creditors	11,596,848	12,355,271	-	-
Other loans	167,752	458,032	-	-
Amounts owed to group undertakings	-	-	6,453	-
Other creditors	5,917,028	5,275,545	3,685	3,685

...CONTINUED

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Corporation tax	261,393	529,406	-	-
Taxation and social security	105,100	656,367	-	-
Accruals and deferred income	6,185,418	4,032,305	-	-

	24,233,539	23,306,926	10,138	3,685

17. Creditors: Amounts Falling Due After More Than One Year

	Group
	2024	2023
	£	£
Bank loans	1,607,330	1,633,055
Other loans	833,417	500,889

	2,440,747	2,133,944

18. Loans

An analysis of the maturity of loans is given below:

	Group
	2024	2023
	£	£
Amounts falling due within one year or on demand:
Other loans	167,752	458,032

	Group
	2024	2023
	£	£
Amounts falling due between one and five years:
Bank loans	1,607,330	1,633,055
Other loans	833,417	500,889

	2,440,747	2,133,944

19. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
1,320 Ordinary shares of £ 0.10 each	132	132

20. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £503,082 (2023: £324,858).

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Breezeline International Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

21. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	422,709	383,764

22. Related Party Disclosures

The group has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

As at the year end, C B Charnock was owed £733,236 (2023: £817,685) by the group.

23. Controlling Parties

The groups's ultimate controlling party is C B Charnock and J Y Charnock by virtue of their interest in the share capital of the company.

Page 29