REGISTERED NUMBER: 08457615 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2025

for

Blue Group Collective Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTORS:

J A Baker

S Croft

R Cleaver

Mrs T Baker

REGISTERED OFFICE:

Gallop House

Hasler Lane,

Great Dunmow

CM6 1XS

REGISTERED NUMBER:

08457615 (England and Wales)

AUDITORS:

Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

The directors present their strategic report of the company and the group for the year ended 31 December 2025.

REVIEW OF BUSINESS

The 2025 financial year was characterised by continued inflationary pressure across the UK economy. Almost every area of the Group's cost base experienced increases during the year, including vehicle operating costs, maintenance, insurance, utilities and purchased services. Recruitment and and retention of qualified HGV drivers also remained challenging, with continued upward pressure on driver wages throughout the industry.

Whilst inflation began to moderate during the year, interest rates remained at elevated levels for much of 2025. This continued to place pressure on both businesses and consumers, contributing to increased operating costs and a more cautious trading environment.

During the course of 2025, global ocean freight rates softened following the exceptional market conditions experienced in previous years. Whilst this reduced the overall turnover generated by Containerlift Shipping Services Limited, container volumes handled continued to increase, demonstrating continued customer demand and underlying growth in activity.

Despite these economic challenges, Containerlift Services Limited delivered a strong increase in turnover during the year, reflecting continued demand for the Company's specialist transport, lifting and project logistics services. Gross profit also increased when compared to the previous year. However, much of this additional income was offset by higher operating costs across the business, resulting in a modest reduction in net profit when compared with 2024.

The Directors are nevertheless pleased with the Group's overall performance. Throughout the year the business remained focused on maintaining high levels of customer service whilst exercising disciplined control over expenditure and operational efficiency. The approach enabled the Group to continue investing in its fleet and capabilities whilst successfully navigating a difficult economic environment.

A particular highlight during the year was the continued strengthening of the Group's financial position. Strong cash generation enabled the Group to substantially reduce asset finance borrowings, with several key items of equipment becoming debt free during the year. This has improved the Group's balance sheets, reduced future financing costs and provides an increasingly strong platform for continued investment and sustainable long term growth.

PRINCIPAL RISKS AND UNCERTAINTIES

Over recent years, the global shipping industry has been hugely volatile. In a relatively short period, the industry has swung from demand significantly outstripping supply with prices multiplying many times, to oversupply and rapidly declining prices. It is expected, and planned for, that this erratic pattern will continue.

The geo-political unrest has only worsened since 2022, primarily due to Russia's invasion of Ukraine and more recently, significant unrest in the Middle East. We expect fuel prices to remain uncertain because of this.

Higher inflation and wage inflation will continue to put demands on us all.

FINANCIAL RISK MANAGEMENT

The group's operations expose it to a variety of financial risks that include the effects of changes in credit risk, liquidity risk and interest rate risk. The group has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the group by monitoring levels of debt finance and the related finance costs. the group does not use derivative financial instruments to manage interest rate costs and as such no hedge accounting is applied.

The group has a normal level of exposure to price, liquidity and cashflow risks arising from trading operations.

KEY PERFORMANCE INDICATORS

The directors review the group's monthly management accounts. They also review the profitability of all jobs undertaken and monitor the group's cost base. Debtors are reviewed on an ongoing basis to ensure that customers are paying to agreed terms.

ON BEHALF OF THE BOARD:

J A Baker - Director

5 August 2026

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of road transport and handling (lifting) of shipping containers and international freight forwarding.

DIVIDENDS

During the year ended 31 December 2025 the company paid dividends totalling £361,603 (2024 - £370,772).

FUTURE DEVELOPMENTS

The group has started strengthening its financial position by paying off financing on several key assets over the past two years. This trend is expected to continue into 2026 and will contribute to a healthier balance sheet and enhanced cash reserves over the medium term.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

J A Baker

S Croft

R Cleaver

Mrs T Baker

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the 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.

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

AUDITORS

The auditors, Henderson & Company, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J A Baker - Director

5 August 2026

Opinion

We have audited the financial statements of Blue Group Collective Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 December 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 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 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 group's and the 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.

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:

In identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations we considered the nature of the company and the industry and the company's control environment. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation of the company such as the Companies Act 2006, taxation legislation, food safety and health and safety legislation. We assessed the extent of compliance with laws and regulations identified through making enquiries of management, inspecting legal correspondence and correspondence with HMRC.

We considered management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management bias and override of controls. To address these risks we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions and assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias. We reviewed financial statement disclosures and tested balances to supporting documentation.

Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance through out the audit.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John Henderson (Senior Statutory Auditor)

for and on behalf of Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

5 August 2026

TURNOVER

3

21,940,627

21,117,999

Cost of sales

16,024,773

15,771,441

GROSS PROFIT

5,915,854

5,346,558

Administrative expenses

4,794,362

4,330,205

1,121,492

1,016,353

Other operating income

4

-

1,623

OPERATING PROFIT

6

1,121,492

1,017,976

Interest receivable and similar income

119

135

1,121,611

1,018,111

Interest payable and similar expenses

7

309,144

323,112

PROFIT BEFORE TAXATION

812,467

694,999

Tax on profit

8

227,054

186,260

PROFIT FOR THE FINANCIAL YEAR

585,413

508,739

Profit attributable to:

Owners of the parent

550,958

475,493

Non-controlling interests

34,455

33,246

585,413

508,739

PROFIT FOR THE YEAR

585,413

508,739

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

585,413

508,739

Total comprehensive income attributable to:

Owners of the parent

640,589

541,237

Non-controlling interests

(55,176

)

(32,498

)

585,413

508,739

FIXED ASSETS

Intangible assets

11

172,387

198,042

Tangible assets

12

6,029,312

6,272,955

Investments

13

-

-

6,201,699

6,470,997

CURRENT ASSETS

Stocks

14

153,638

128,980

Debtors

15

3,903,416

3,754,011

Cash at bank

154,863

342,313

4,211,917

4,225,304

CREDITORS

Amounts falling due within one year

16

5,520,714

5,527,527

NET CURRENT LIABILITIES

(1,308,797

)

(1,302,223

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,892,902

5,168,774

CREDITORS

Amounts falling due after more than one year

17

(1,458,370

)

(1,961,549

)

PROVISIONS FOR LIABILITIES

21

(1,369,777

)

(1,276,649

)

NET ASSETS

2,064,755

1,930,576

CAPITAL AND RESERVES

Called up share capital

22

6,131

6,131

Revaluation reserve

23

105,391

105,391

Capital redemption reserve

23

4,250

4,250

Merger relief reserve

23

660,000

660,000

Retained earnings

23

1,345,381

1,156,026

SHAREHOLDERS' FUNDS

2,121,153

1,931,798

NON-CONTROLLING INTERESTS

(56,398

)

(1,222

)

TOTAL EQUITY

2,064,755

1,930,576

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2026 and were signed on its behalf by:

J A Baker - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

1,692,893

1,692,893

1,692,893

1,692,893

CURRENT ASSETS

Debtors

15

325,006

636,235

CREDITORS

Amounts falling due within one year

16

2,007,264

2,290,604

NET CURRENT LIABILITIES

(1,682,258

)

(1,654,369

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,635

38,524

CAPITAL AND RESERVES

Called up share capital

22

6,131

6,131

Capital redemption reserve

23

4,250

4,250

Retained earnings

23

254

28,143

SHAREHOLDERS' FUNDS

10,635

38,524

Company's profit for the financial year

333,714

264,860

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2026 and were signed on its behalf by:

J A Baker - Director

Called up

Capital

share

Retained

Revaluation

redemption

capital

earnings

reserve

reserve

£

£

£

£

Balance at 1 January 2024

6,131

1,051,305

105,391

4,250

Changes in equity

Dividends

-

(370,772

)

-

-

Total comprehensive income

-

475,493

-

-

Balance at 31 December 2024

6,131

1,156,026

105,391

4,250

Changes in equity

Dividends

-

(361,603

)

-

-

Total comprehensive income

-

550,958

-

-

Balance at 31 December 2025

6,131

1,345,381

105,391

4,250

Merger

relief

Non-controlling

Total

reserve

Total

interests

equity

£

£

£

£

Balance at 1 January 2024

660,000

1,827,077

31,276

1,858,353

Changes in equity

Dividends

-

(370,772

)

-

(370,772

)

Total comprehensive income

-

475,493

(32,498

)

442,995

Balance at 31 December 2024

660,000

1,931,798

(1,222

)

1,930,576

Changes in equity

Dividends

-

(361,603

)

-

(361,603

)

Total comprehensive income

-

550,958

(55,176

)

495,782

Balance at 31 December 2025

660,000

2,121,153

(56,398

)

2,064,755

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

6,131

134,055

4,250

144,436

Changes in equity

Dividends

-

(370,772

)

-

(370,772

)

Total comprehensive income

-

264,860

-

264,860

Balance at 31 December 2024

6,131

28,143

4,250

38,524

Changes in equity

Dividends

-

(361,603

)

-

(361,603

)

Total comprehensive income

-

333,714

-

333,714

Balance at 31 December 2025

6,131

254

4,250

10,635

Cash flows from operating activities

Cash generated from operations

1

1,929,507

1,942,723

Interest paid

(120,023

)

(109,832

)

Interest element of hire purchase payments paid

(189,121

)

(213,280

)

Tax paid

14,695

6,876

Net cash from operating activities

1,635,058

1,626,487

Cash flows from investing activities

Purchase of tangible fixed assets

(225,398

)

(297,501

)

Sale of intangible fixed assets

-

72,000

Sale of tangible fixed assets

-

128,856

Interest received

119

135

Net cash from investing activities

(225,279

)

(96,510

)

Cash flows from financing activities

Loan repayments in year

(25,000

)

(50,000

)

Capital repayments in year

(1,207,410

)

(1,089,393

)

Equity dividends paid

(361,603

)

(370,772

)

Dividends paid to minority interests

(89,630

)

(65,744

)

Net cash from financing activities

(1,683,643

)

(1,575,909

)

Decrease in cash and cash equivalents

(273,864

)

(45,932

)

Cash and cash equivalents at beginning of year

2

(842,427

)

(796,495

)

Cash and cash equivalents at end of year

2

(1,116,291

)

(842,427

)

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

812,467

694,999

Depreciation charges

881,246

775,797

Profit on disposal of fixed assets

-

(3,063

)

Finance costs

309,144

323,112

Finance income

(119

)

(135

)

2,002,738

1,790,710

Increase in stocks

(24,658

)

(43,416

)

Increase in trade and other debtors

(149,405

)

(464,866

)

Increase in trade and other creditors

100,832

660,295

Cash generated from operations

1,929,507

1,942,723

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 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

154,863

342,313

Bank overdrafts

(1,271,154

)

(1,184,740

)

(1,116,291

)

(842,427

)

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

342,313

112,586

Bank overdrafts

(1,184,740

)

(909,081

)

(842,427

)

(796,495

)

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.1.25

Cash flow

changes

At 31.12.25

£

£

£

£

Net cash

Cash at bank

342,313

(187,450

)

154,863

Bank overdrafts

(1,184,740

)

(86,414

)

(1,271,154

)

(842,427

)

(273,864

)

(1,116,291

)

Debt

Finance leases

(3,136,659

)

1,207,410

-

(2,315,799

)

Debts falling due

within 1 year

(25,000

)

25,000

-

-

(3,161,659

)

1,232,410

-

(2,315,799

)

Total

(4,004,086

)

958,546

-

(3,432,090

)

1.	STATUTORY INFORMATION

Blue Group Collective 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and investment properties measured at fair value in accordance with the accounting policies set out below.

Basis of consolidation

The consolidated financial statements incorporate the financial statements of the company and entities controlled by the group (its subsidiaries). Control is achieved where the group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in total comprehensive income from the effective date of acquisition and up to the effective date of disposal, as appropriate using accounting policies consistent with those of the parent. All intra-group transactions, balances, income and expenses are eliminated in full on consolidation.

Investments in subsidiaries are accounted for at cost less impairment in the individual financial statements.

Significant judgements and estimates

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Valuation of plant and machinery

Plant and machinery are stated at fair value based on the valuation performed by an independent expert with recent experience in the category of plant and machinery valuations. The valuer used observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset.

Turnover

Turnover represents sales to external customers at invoice amounts less value added tax or local taxes on sales. Turnover is recognised when goods are delivered or over the period for which services are rendered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Website costs are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over the estimated useful life of 10 years.