REGISTERED NUMBER: 02006494 (England and Wales)

SUPREME FREIGHT SERVICES LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

14

Cash Flow Statement

15

Notes to the Cash Flow Statement

16

Notes to the Financial Statements

17

DIRECTORS:

Lord C D Green

A L Archdeacon

S J Green

REGISTERED OFFICE:

Supreme House

29-33 Shirley Road

Southampton

Hampshire

SO15 3EW

REGISTERED NUMBER:

02006494 (England and Wales)

SENIOR STATUTORY AUDITOR:

Gary Brown (FCCA)

AUDITORS:

Hopper Williams & Bell Limited

Statutory Auditor

Chartered Accountants

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

BANKERS:

National Westminster Bank plc

12 High Street

Southampton

Hampshire

SO14 2BF

The directors present their strategic report for the year ended 31 July 2025.

REVIEW OF BUSINESS

The company's principal operation is that of freight forwarding. The company operates from their purpose-built offices, Supreme House in Southampton, UK.

The directors are pleased with both the sales and operating profit in the year. The results for the company show sales of £57.7 million (2024: £43.1 million), excluding Duty & VAT, and an operating profit of £1,605,607 (2024: £1,253,896) The company has experienced growth in previous years by actively and successfully increasing its core business of shipping and associated logistics from Asia to the UK as well as within the EU. The company has continued to focus on sales and increased profitability in the year as the company becomes more efficient.

The company has net assets of £2,320,516 (2024: £2,760,489).

Strategy

The company's overriding strategy is to achieve sustainable rates of growth and returns through:

- Offering a competitive combination of price and attractive credit terms to clients

- Offering a comprehensive and quality service to clients

- Seizing new opportunities in foreign markets

- Investment in the extension of office facilities

- Investment in additional sales staff

Future Outlook

The core Asia-Europe freight business continues to develop and increase due to our extensive partnerships with shipping lines, airlines, road haulage associates, our overseas offices and joint venture partners.

We continue to develop close synergies with supply chain market leaders to grow their freight forwarding and customs clearance departments.

We continue to grow and develop our EU import & export customs brokerage division offering bespoke, added value customer support 24/7.

The directors believe that the company's continued investment in technology, recruiting and retaining industry leading staff, together with providing a personal approach to customer relationships, will help to sustain growth.

The market continues to be extremely competitive. The company diligently focuses on improving efficiencies to increase productivity and remain competitive.

PRINCIPAL RISKS AND UNCERTAINTIES

Risks are regularly reviewed by the board and processes put in place to monitor and mitigate them.

The key business risks that could affect the company's ability to achieve its strategic goals are set out below:

Liquidity

The company regularly monitors banking covenant headroom, leverage, and committed undrawn facilities.

Competition

The company operates in a highly competitive market particularly around price and quality of service. Investment has been made in overseas offices and IT to ensure we offer our clients the best solution for their shipping requirements.

Employees

The company's performance depends largely on its managers and staff. The recruitment and retention of key individuals who have the required experience and skills to develop important relationships with clients is paramount. The company continues to make substantial investment in its employees by developing incentive schemes linked to the company's results.

KEY PERFORMANCE INDICATORS ("KPI'S")

The company has made significant progress in the year on the overriding strategic objectives. The board monitors progress on the overall strategy by reference to our KPI's. The main KPI's used by the company are turnover and gross margin percentage. In 2025, these KPI's were as follows:

Turnover excluding VAT and duty - £57.7 million (2024: £43.1million)

Gross margin percentage - 8.6% (2024: 8.7%)

ON BEHALF OF THE BOARD:

Lord C D Green - Director

24 April 2026

The directors present their report with the financial statements of the company for the year ended 31 July 2025.

DIVIDENDS

The total distribution of dividends for the year ended 31 July 2025 will be £882,000 (2024: £626,000).

DIRECTORS

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

Lord C D Green

A L Archdeacon

S J Green

Other changes in directors holding office are as follows:

G R Littlehales - resigned 2 April 2025

DISCLOSURE IN THE STRATEGIC REPORT

Future developments have been included within the future outlook section of the Strategic Report.

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). 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.

ON BEHALF OF THE BOARD:

Lord C D Green - Director

24 April 2026

Opinion

We have audited the financial statements of Supreme Freight Services Limited (the 'company') for the year ended 31 July 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 July 2023 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; 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.

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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK).

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, and the industry in which it operates. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Practice and the relevant tax compliance regulations for the company.

- We obtained an understanding of how the company is complying with these frameworks through discussions with management.

- We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures including but not limited to a review of legal and professional costs and correspondence.

- We assessed the susceptibility of the company's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.

- We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the industry in which the company operates in, and their practical experience through training and participation with audit engagements of a similar nature.

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.

Gary Brown (FCCA) (Senior Statutory Auditor)

for and on behalf of Hopper Williams & Bell Limited

Statutory Auditor

Chartered Accountants

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

24 April 2026

TURNOVER

3

87,576,307

74,450,525

Cost of sales

(80,052,633

)

(67,997,132

)

GROSS PROFIT

7,523,674

6,453,393

Administrative expenses

(5,917,311

)

(5,216,669

)

OPERATING PROFIT

5

1,606,363

1,236,724

Interest receivable and similar income

11,582

17,172

1,617,945

1,253,896

Interest payable and similar expenses

6

(12,338

)

-

PROFIT BEFORE TAXATION

1,605,607

1,253,896

Tax on profit

7

(439,913

)

(327,185

)

PROFIT FOR THE FINANCIAL YEAR

1,165,694

926,711

PROFIT FOR THE YEAR

1,165,694

926,711

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,165,694

926,711

FIXED ASSETS

Tangible assets

9

2,294,617

2,476,908

CURRENT ASSETS

Stocks

10

107,851

163,215

Debtors

11

9,532,164

11,459,081

Cash at bank and in hand

1,190,670

1,522,793

10,830,685

13,145,089

CREDITORS

Amounts falling due within one year

12

(10,490,164

)

(12,351,433

)

NET CURRENT ASSETS

340,521

793,656

TOTAL ASSETS LESS CURRENT LIABILITIES

2,635,138

3,270,564

CREDITORS

Amounts falling due after more than one year

13

(192,827

)

(362,074

)

PROVISIONS FOR LIABILITIES

16

(121,795

)

(148,001

)

NET ASSETS

2,320,516

2,760,489

CAPITAL AND RESERVES

Called up share capital

17

107

120

Capital redemption reserve

18

13

-

Retained earnings

18

2,320,396

2,760,369

SHAREHOLDERS' FUNDS

2,320,516

2,760,489

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2026 and were signed on its behalf by:

Lord C D Green - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 August 2023

120

2,459,658

-

2,459,778

Changes in equity

Dividends

-

(626,000

)

-

(626,000

)

Total comprehensive income

-

926,711

-

926,711

Balance at 31 July 2024

120

2,760,369

-

2,760,489

Changes in equity

Reduction in share capital

(13

)

-

-

(13

)

Company purchase of own shares

-

(723,667

)

13

(723,654

)

Dividends

-

(882,000

)

-

(882,000

)

Total comprehensive income

-

1,165,694

-

1,165,694

Balance at 31 July 2025

107

2,320,396

13

2,320,516

Cash flows from operating activities

Cash generated from operations

1

2,598,607

944,808

Interest paid

(12,338

)

-

Tax paid

(347,605

)

(189,215

)

Net cash from operating activities

2,238,664

755,593

Cash flows from investing activities

Purchase of tangible fixed assets

(64,678

)

(50,352

)

Interest received

11,582

17,172

Net cash from investing activities

(53,096

)

(33,180

)

Cash flows from financing activities

(Decrease) / increase in invoice finance

-

417,959

Hire purchase capital repayments in year

(169,247

)

(169,472

)

Amount introduced by directors

411,958

-

Amount withdrawn by directors

(1,154,735

)

(40,000

)

Company purchase of own shares

(723,667

)

-

Equity dividends paid

(882,000

)

(626,000

)

Net cash from financing activities

(2,517,691

)

(417,513

)

(Decrease)/increase in cash and cash equivalents

(332,123

)

304,900

Cash and cash equivalents at beginning of year

2

1,522,793

1,217,893

Cash and cash equivalents at end of year

2

1,190,670

1,522,793

1.	RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit for the financial year

1,165,694

926,711

Depreciation charges

246,969

202,065

Finance costs

12,338

-

Finance income

(11,582

)

(17,172

)

Taxation

439,913

327,185

1,853,332

1,438,789

Decrease in stocks

55,364

9,462

Decrease/(increase) in trade and other debtors

2,667,551

(3,766,155

)

(Decrease)/increase in trade and other creditors

(1,977,640

)

3,262,712

Cash generated from operations

2,598,607

944,808

2.	CASH AND CASH EQUIVALENTS

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

Year ended 31 July 2025

31.7.25

1.8.24

£

£

Cash and cash equivalents

1,190,670

1,522,793

Year ended 31 July 2024

31.7.24

1.8.23

£

£

Cash and cash equivalents

1,522,793

1,217,893

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.24

Cash flow

At 31.7.25

£

£

£

Net cash

Cash at bank and in hand

1,522,793

(332,123

)

1,190,670

1,522,793

(332,123

)

1,190,670

Debt

Finance leases

(531,451

)

169,247

(362,204

)

(531,451

)

169,247

(362,204

)

Total

991,342

(162,876

)

828,466

1.	STATUTORY INFORMATION

Supreme Freight Services 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 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Freight turnover is represented by invoiced services net of any discount and input VAT but is inclusive of duty and VAT received from customers in respect of goods forwarded and is recognised at the following points depending on the freight type:

Freight imports

Once goods have cleared through the port

Freight exports

Once export entry has been committed as Live

Freight cross trade agreements

Once cargo has arrived into destination port

Container turnover is represented by the sale of goods to customers net of any discount or VAT. The sales are recognised at the point of delivery to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over the estimated useful life:

Freehold property: 2% straight line, land not depreciated

Fixtures and Fittings: 3-20 years straight line

Motor vehicles: 4 years straight line

Equipment: 3-4 years straight line

The profit or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 balance sheet date.

Deferred tax

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

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

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and are depreciated over their estimated useful lives.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight line basis.

Interest is capitalised as part of the capital addition to which it relates to.

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.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

The company does not disclose its turnover by geographic location as it considers that it would be detrimental to its business.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,298,590

2,654,299

Social security costs

425,101

253,123

Other pension costs

88,555

71,467

3,812,246

2,978,889

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

2025

2024

Directors

4

4

Administration and management

76

68

80

72

Key management personnel include all directors across the company who together have authority and responsibility for planning, directing and controlling the activities of the company. The total compensation paid to key management personnel for services provided to the company was £264,272 (2024: £176,618).

Directors emoluments

The total remuneration paid to directors in the year totalled £261,052 (2024: £173,468).

The company's contributions to the director's defined contribution pension scheme in the year totalled £3,220 (2024: £3,150).

During the year retirement benefits were accruing to 2 directors (2024: 2) in respect of defined contribution pension schemes.

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Other operating leases

54,718

41,660

Depreciation - owned assets

142,552

100,476

Depreciation - assets on hire purchase contracts

104,417

101,589

Auditors' remuneration

24,805

23,625

Auditors' remuneration for non audit work

38,347

35,227

Foreign currency losses/(gains)

164,776

42,674