Trans Global Projects 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—12
Consolidated Statement of Changes in Equity	13
Company Statement of Changes in Equity	14
Consolidated Statement of Cash Flows	15
Notes to the Consolidated Statement of Cash Flows	16
Company Statement of Cash Flows	17
Notes to the Company Statement of Cash Flows	18
Notes to the Financial Statements	19—31

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

Review of the Business

During the current year, the level of turnover of £174,852,129 has increased by 7% from last year (2024: £163,859,946). The gross profit margin has remained consistent at 16%.

The group profit for the year before taxation was £5,390,204 (2024: £7,720,181).

Reserves

Retained reserves at the year end of £18,389,341 have increased from the previous year (2024: £14,809,421).

Cash Flow and Liquidity

Cash flow was in line with expectations with a net increase in cash of £1,443,161 (2024: £1,112,755). The group's net current asset ratio was 1.55 at the year end (2024: 1.69).

On behalf of the board

A M Herbert

Director

28 July 2026

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Trans Global Projects Group Limited

Company No. 02188909

Directors' Report For The Year Ended 31 December 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2025.

Principal Activity

The group's principal activity continues to be that of project logistics management.

Dividends

The value of dividends paid amounted to £622,570 .

Directors

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

C B Charnock

A M Herbert

M R Jackson

S R Duke

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and 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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Trans Global Projects Group Limited

Directors' Report (continued)

For The Year Ended 31 December 2025

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 Audit LLP, 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

28 July 2026

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Independent Auditor's Report

to the Members of

Trans Global Projects Group Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Trans Global Projects Group Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 December 2025 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 2025 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

Trans Global Projects 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

Trans Global Projects 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.

Sarah Rawlins FCA (Senior Statutory Auditor)

for and on behalf of Crane & Partners Audit LLP , Statutory Auditor

28 July 2026

Crane & Partners Audit LLP

Leonard House

5-7 Newman Road

Bromley

Kent

BR1 1RJ

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Trans Global Projects Group Limited

Consolidated Profit and Loss Account

For The Year Ended 31 December 2025

Consolidated Profit and Loss Account

		2025	2024 as restated
	Notes	£	£
TURNOVER		174,852,129	163,859,946
Cost of sales		(146,680,563 )	(137,189,900 )

GROSS PROFIT		28,171,566	26,670,046

Administrative expenses		(22,598,126 )	(18,607,483 )
Other operating income		271,556	-

OPERATING PROFIT	4	5,844,996	8,062,563
Loss on disposal of fixed asset investments		(128,868)	-
Other interest receivable and similar income	9	24,940	-
Interest payable and similar charges	10	(350,864 )	(342,382 )

PROFIT BEFORE TAXATION		5,390,204	7,720,181
Tax on Profit	11	(1,029,489 )	(1,502,040 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		4,360,715	6,218,141


Profit attributable to:
Owners of the parent		4,181,240	6,041,848
Non-controlling interest		179,475	176,293

		4,360,715	6,218,141

The notes on pages 16 to 31 form part of these financial statements.

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Trans Global Projects Group Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 December 2025

Consolidated Statement of Comprehensive Income

	2025	2024 as restated
	£	£
PROFIT FOR THE FINANCIAL YEAR	4,360,715	6,218,141
OTHER COMPREHENSIVE INCOME:
Gain/(loss) due to foreign exchange differences	21,250	(269,166 )

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	4,381,965	5,948,975


Total comprehensive income attributable to:
Owners of the parent	4,202,490	5,772,682
Non-controlling interest	179,475	176,293

	4,381,965	5,948,975

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Trans Global Projects Group Limited

Consolidated Balance Sheet

As At 31 December 2025

Consolidated Balance Sheet

Registered number: 02188909

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	13		58,398		89,424
Tangible Assets	14		586,787		334,081
Investment Properties	15		380,000		380,000
Investments	16		11,001		11,000

			1,036,186		814,505
CURRENT ASSETS
Debtors	17	47,868,115		35,317,571
Cash at bank and in hand		7,082,930		5,639,769

		54,951,045		40,957,340
Creditors: Amounts Falling Due Within One Year	18	(35,348,658 )		(24,229,854 )

NET CURRENT ASSETS (LIABILITIES)			19,602,387		16,727,486

TOTAL ASSETS LESS CURRENT LIABILITIES			20,638,573		17,541,991

Creditors: Amounts Falling Due After More Than One Year	19		(1,777,934 )		(2,440,747 )

NET ASSETS			18,860,639		15,101,244

CAPITAL AND RESERVES
Called up share capital	21		120		120
Profit and Loss Account			18,389,221		14,809,301

Equity attributable to owners of the parent			18,389,341		14,809,421
Non-controlling interest			471,298		291,823

TOTAL EQUITY			18,860,639		15,101,244

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Trans Global Projects Group Limited

Consolidated Balance Sheet (continued)

As At 31 December 2025

On behalf of the board

A M Herbert Director	M R Jackson Director
28 July 2026

The notes on pages 16 to 31 form part of these financial statements.

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Trans Global Projects Group Limited

Company Balance Sheet

As At 31 December 2025

Company Balance Sheet

Registered number: 02188909

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Investments	16		612,656		576,285

			612,656		576,285
CURRENT ASSETS
Debtors	17	380,853		876,768
Cash at bank and in hand		12,212		1,109

		393,065		877,877
Creditors: Amounts Falling Due Within One Year	18	(37,356 )		(884,064 )

NET CURRENT ASSETS (LIABILITIES)			355,709		(6,187 )

TOTAL ASSETS LESS CURRENT LIABILITIES			968,365		570,098

NET ASSETS			968,365		570,098

CAPITAL AND RESERVES
Called up share capital	21		120		120
Profit and Loss Account			968,245		569,978

SHAREHOLDERS' FUNDS			968,365		570,098

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Trans Global Projects Group Limited

Company Balance Sheet (continued)

As At 31 December 2025

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 £ 976,655 (2024: £ 468,733 profit).

On behalf of the board

A M Herbert Director	M R Jackson Director
28 July 2026

The notes on pages 16 to 31 form part of these financial statements.

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Trans Global Projects Group Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 December 2025

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total Attributable to Parent	Non-controlling interest	Total
	£	£	£	£	£
As at 1 January 2024	120	9,459,328	9,459,448	115,530	9,574,978
Profit for year	-	6,041,848	6,041,848	176,293	6,218,141

Currency translation	-	(269,166)	(269,166)	-	(269,166)

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

Total comprehensive income for the year	-	5,772,682	5,772,682	176,293	5,948,975

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

As at 31 December 2024 and 1 January 2025 as restated	120	14,809,301	14,809,421	291,823	15,101,244


Profit for year	-	4,181,240	4,181,240	179,475	4,360,715

Currency translation	-	21,250	21,250	-	21,250

Other comprehensive income for the year	-	21,250	21,250	-	21,250

Total comprehensive income for the year	-	4,202,490	4,202,490	179,475	4,381,965

Dividends paid	-	(622,570)	(622,570)	-	(622,570)

As at 31 December 2025	120	18,389,221	18,389,341	471,298	18,860,639

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Trans Global Projects Group Limited

Company Statement of Changes in Equity

For The Year Ended 31 December 2025

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2024	120	523,954	524,074
Profit for the year and total comprehensive income	-	468,733	468,733

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

As at 31 December 2024 and 1 January 2025 as restated	120	569,978	570,098


Profit for the year and total comprehensive income	-	976,655	976,655

Dividends paid	-	(578,388)	(578,388)

As at 31 December 2025	120	968,245	968,365

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Trans Global Projects Group Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 December 2025

Consolidated Statement of Cash Flows

		2025	2024 as restated
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	3,856,881	3,878,986
Interest paid		(350,864 )	(342,382 )
Tax paid		(1,101,601 )	(1,770,053 )

Net cash generated from operating activities		2,404,416	1,766,551

Cash flows from investing activities
Purchase of intangible assets		(1,650 )	(3,400 )
Purchase of tangible assets		(342,514 )	(161,332 )
Proceeds from disposal of tangible assets		4,694	1,572
Purchase of investment in subsidiary undertaking		(1 )	-
Interest received		24,940	-

Net cash used in investing activities		(314,531 )	(163,160 )

Cash flows from financing activities
Equity dividends paid		(622,570 )	(422,709 )
Proceeds from new bank borrowings		-	65,672
Repayment of bank borrowings		(199,619 )	(91,397 )
Proceeds from new other loans		572,947	107,581
Repayment of other loans		-	(65,333)
Amount withdrawn by directors		(397,482)	(84,450)

Net cash used in financing activities		(646,724 )	(490,636 )



Increase in cash and cash equivalents		1,443,161	1,112,755
Cash and cash equivalents at beginning of year	2	5,639,769	4,527,014

Cash and cash equivalents at end of year	2	7,082,930	5,639,769

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Trans Global Projects Group Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 December 2025

Notes to the Consolidated Statement of Cash Flows

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

	2025	2024 as restated
	£	£
Profit for the financial year	4,360,715	6,218,141
Adjustments for:
Tax on profit	1,029,489	1,502,040
Interest expense	350,864	342,382
Interest income	(24,940 )	-
Amortisation of intangible assets	11,096	24,698
Depreciation of tangible assets	135,738	109,519
Impairment of fixed asset investments	-	9,000
Loss on revaluation of fixed assets	21,581	21,581
Foreign exchange gains	(29,375)	(262,701)
Movements in working capital:
Increase in trade and other debtors	(12,550,544 )	(5,655,030 )
Increase in trade and other creditors	10,552,257	1,569,356

Net cash generated from operations	3,856,881	3,878,986

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:

	2025	2024 as restated
	£	£
Cash at bank and in hand	7,082,930	5,639,769

3. Analysis of changes in net funds

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	5,639,769	1,443,161	7,082,930
Debts falling due within one year	(167,752 )	(1,036,141)	(1,203,893 )
Debts falling due after more than one year	(2,440,747)	662,813	(1,777,934)

	3,031,270	1,069,833	4,101,103

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Trans Global Projects Group Limited

Company Statement of Cash Flows

For The Year Ended 31 December 2025

Company Statement of Cash Flows

		2025	2024 as restated
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(321,649 )	6,429
Interest paid		-	(347 )
Tax paid		-	(40,796 )

Net cash used in operating activities		(321,649 )	(34,714 )

Cash flows from investing activities
Purchase of investment in subsidiary undertaking		(36,371 )	-
Interest received		13	14,184
Dividends received		947,498	422,709

Net cash generated from investing activities		911,140	436,893

Cash flows from financing activities
Equity dividends paid		(578,388 )	(422,709 )



Increase/(decrease) in cash and cash equivalents		11,103	(20,530 )
Cash and cash equivalents at beginning of year	2	1,109	21,639

Cash and cash equivalents at end of year	2	12,212	1,109

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Trans Global Projects Group Limited

Notes to the Company Statement of Cash Flows

For The Year Ended 31 December 2025

Notes to the Company Statement of Cash Flows

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

	2025	2024 as restated
	£	£
Profit for the financial year	976,655	468,733
Adjustments for:
Tax on profit	9,719	-
Interest expense	-	347
Interest income	(13 )	(14,184 )
Income from shares in group undertakings	(947,498)	(422,709)
Movements in working capital:
Decrease in trade and other debtors	495,915	195,617
Decrease in trade and other creditors	(856,427 )	(221,375 )

Net cash (used in)/generated from operations	(321,649 )	6,429

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:

	2025	2024 as restated
	£	£
Cash at bank and in hand	12,212	1,109

3. Analysis of changes in net funds

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	1,109	11,103	12,212

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Trans Global Projects Group Limited

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Trans Global Projects Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02188909 . 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 2025.

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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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

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 forwarding 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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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

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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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

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. Other Operating Income

	2025	2024 as restated
	£	£
Other operating income	271,556	-

	271,556	-

4. Operating Profit

The operating profit is stated after charging:

	2025	2024 as restated
	£	£
Bad debts	40,337	212,402
Depreciation of tangible fixed assets	135,738	109,519
Amortisation of intangible fixed assets	11,096	24,698

5. Auditor's Remuneration

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

	2025	2024 as restated
	£	£
Audit Services
Audit of the company's financial statements	20,000	21,000

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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Staff Costs

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

	2025	2024 as restated
	£	£
Wages and salaries	14,963,239	12,297,032
Other pension costs	593,139	499,553

	15,556,378	12,796,585

7. Average Number of Employees

Group

Average number of employees, including directors, during the year was: 251 (2024: 170)

Company

Average number of employees, including directors, during the year was: 4 (2024: 4)

8. Directors' remuneration

	2025	2024 as restated
	£	£
Emoluments	126,858	126,858
Company contributions to money purchase pension schemes	88,711	78,084

	215,569	204,942

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

	2025		2024 as restated
Money purchase pension schemes	2		2

Information regarding the highest paid director was as follows:

	2025	2024 as restated
	£	£
Emoluments	60,000	60,000
Company contributions to money purchase pension schemes	56,911	49,148

	116,911	109,148

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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Interest Receivable and Similar Income

	2025	2024 as restated
	£	£
Bank interest receivable	24,940	-

10. Interest Payable and Similar Charges

	2025	2024 as restated
	£	£
Bank loans and overdrafts	113,206	-
Other finance charges	237,658	342,382

	350,864	342,382

11. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2025	2024 as restated
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	325,281	261,302
Foreign tax			704,208	1,240,738

			1,029,489	1,502,040


Total tax charge for the period			1,029,489	1,502,040

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:

	2025	2024
	£	£
Profit before tax	5,390,204	7,720,181

Tax on profit at 25% (UK standard rate)	1,347,551	1,930,045
Goodwill/depreciation not allowed for tax	6,006	2,745
Expenses not deductible for tax purposes	10,642	12,212
Capital allowances	(31,120 )	(3,284 )

...CONTINUED

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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Dividends from companies	(236,875 )	(105,677 )
Foreign tax rates	(66,715 )	(322,408 )
Double taxation relief	-	(11,593 )

Total tax charge for the period	1,029,489	1,502,040

12. Prior Period Adjustment

Due to a presentational factor with regards one of the subsidiaries, the comparatives have been restated to reflect the correct income and cost figures. Profit before tax remains unchanged.

13. Intangible Assets

Group

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 January 2025	1,257,134	158,858	1,415,992
Additions	-	1,650	1,650

As at 31 December 2025	1,257,134	160,508	1,417,642

Amortisation
As at 1 January 2025	1,196,700	129,868	1,326,568
Provided during the period	21,580	11,096	32,676

As at 31 December 2025	1,218,280	140,964	1,359,244

Net Book Value
As at 31 December 2025	38,854	19,544	58,398

As at 1 January 2025	60,434	28,990	89,424

Company

The company had no intangible fixed assets as at 31 December 2025 or 31 December 2024.

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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

14. Tangible Assets

Group

	Motor Vehicles	Furniture, fixtures and equipment	Computer Equipment	Total
	£	£	£	£
Cost or Valuation
As at 1 January 2025	106,573	1,110,929	192,219	1,409,721
Additions	68,412	223,878	50,224	342,514
Disposals	9,177	(30,066 )	(19,311 )	(40,200 )
Revaluation	(3,198 )	48,406	5,544	50,752

As at 31 December 2025	180,964	1,353,147	228,676	1,762,787

Depreciation
As at 1 January 2025	45,283	895,210	135,147	1,075,640
Provided during the period	21,896	84,711	29,259	135,866
Disposals	13,379	(29,574 )	(19,311 )	(35,506 )

As at 31 December 2025	80,558	950,347	145,095	1,176,000

Net Book Value
As at 31 December 2025	100,406	402,800	83,581	586,787

As at 1 January 2025	61,290	215,719	57,072	334,081

Company

The company had no tangible fixed assets as at 31 December 2025 or 31 December 2024.

15. Investment Property

Group

	2025
	£
Fair Value
As at 1 January 2025 and 31 December 2025	380,000

Company

The company had no investment property as at 31 December 2025 or 31 December 2024.

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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

16. Investments

Group

	Subsidiaries	Listed	Total
	£	£	£
Cost
As at 1 January 2025	-	20,000	20,000
Additions	1	-	1

As at 31 December 2025	1	20,000	20,001

Provision
As at 1 January 2025	-	9,000	9,000

As at 31 December 2025	-	9,000	9,000

Net Book Value
As at 31 December 2025	1	11,000	11,001

As at 1 January 2025	-	11,000	11,000

Company

	Subsidiaries
	£
Cost
As at 1 January 2025	576,285
Additions	36,371

As at 31 December 2025	612,656

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	612,656

As at 1 January 2025	576,285

Subsidiaries

Details of the group's subsidiaries as at 31 December 2025 are as follows:

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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
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	Faulenstraße 54, 28195 Bremen	Ordinary	-	100.00%
Trans Global Projects GmbH	Faulenstraße 54, 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%	-
Trans Global Projects SDN BHD (TMY)	Unit N-3-07, Gamuda Biz Suite, No 12 Jalan Anggerik Vanilla 31/99, 40460 Shah Alam, Selangor	Ordinary	100.00%	-
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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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

	Capital and Reserves	Profit/(loss)
	£	£
Trans Global Projects Limited	3,918,389	1,320,137
Trans Global Projects AG	741,172	426,039
Trans Gobal Holdings (Switzerland) AG	3,869,517	1,958,976
Natco AG Internationale Transporte	2,669,977	429,854
Trans Global Projects Logistics Pty Limited	2,064,659	482,490
TGP Logistics Pty Limited	1,088,303	593,019
TGP Logistics Inc	678,916	(27,350 )
TGP Brasil LTDA	2,356,493	1,363,104
Natco GmbH Internationale Spedition	438,092	16,726
Trans Global Projects GmbH	687,879	(15,744 )
Trans Global Projects B.V.	334,525	430,904
TransGlobal Projects Middle East FZC	3,187,348	1,120,940
TGP Logistics DMCC	823,277	497,513
Trans Global Projects Group Limited (SAR)	571,698	220,368
Trans Global Projects SDN BHD (TMY)	(33,893 )	(70,517 )
Trans Global Projects Logistics PTE Limited	153,535	100,221
TGP Azerbaijan LLC	(265,091 )	(325,360 )

17. Debtors

	Group		Company
	2025	2024 as restated	2025	2024 as restated
	£	£	£	£
Due within one year
Trade debtors	30,467,354	23,531,577	-	-
Prepayments and accrued income	12,857,171	9,055,269	-	-
Other debtors	4,054,300	2,526,052	-	-
VAT	489,290	204,673	-	-
Amounts owed by group undertakings	-	-	380,853	876,768

	47,868,115	35,317,571	380,853	876,768

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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

18. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2025	2024 as restated	2025	2024 as restated
	£	£	£	£
Trade creditors	20,436,172	11,596,850	-	-
Other loans	1,203,893	167,752	-	-
Corporation tax	189,281	261,393	9,719	-
Other taxes and social security	201,134	105,100	-	-
Other creditors	6,148,668	5,183,790	1,832	1,833
Accruals and deferred income	6,837,441	6,185,418	5,000	5,000
Directors' loan accounts	332,069	729,551	20,805	20,805
Amounts owed to group undertakings	-	-	-	856,426

	35,348,658	24,229,854	37,356	884,064

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

	Group
	2025	2024 as restated
	£	£
Bank loans	1,407,711	1,607,330
Other loans	370,223	833,417

	1,777,934	2,440,747

20. Loans

An analysis of the maturity of loans is given below:

	Group
	2025	2024 as restated
	£	£
Amounts falling due within one year or on demand:
Other loans	1,203,893	167,752

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Trans Global Projects Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

	Group
	2025	2024 as restated
	£	£
Amounts falling due between one and five years:
Bank loans	1,407,711	1,607,330
Other loans	370,223	833,417

	1,777,934	2,440,747

21. Share Capital

	2025	2024 as restated
Allotted, called up and fully paid	£	£
120 Ordinary shares of £ 1.00 each	120	120

22. 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 £593,139 (2024: £499,553).

23. Dividends

	2025	2024 as restated
	£	£
On equity shares:
Interim dividend paid	622,570	422,709

24. 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 £332,069 (2024: £729,551) by the group.

25. Controlling Parties

The immediate parent undertaking and that of the smallest and largest group for which group accounts are drawn up of which the company is a member is Breezeline International Group Limited (incorporated in England & Wales). Its registered office is Suffolk House, Ground Floor (East), High Street, Sevenoaks, Kent, TN13 1XE .

Copies of the group accounts may be obtained from the company's registered office.

In the opinion of the directors there is no ultimate controlling party.

Page 31