Company registration number 08501041 (England and Wales)
Triton Group Holdings Ltd
Annual report and
financial statements
for the year ended 31 December 2023
Triton Group Holdings Ltd
Company Information
Directors
A Wood
G Foxcroft
Company number
08501041
Registered office
Templar House
1 Sandbeck Court
Sandbeck Way
Wetherby
West Yorkshire
LS22 7BA
Auditor
B M Howarth Ltd
West House
King Cross Road
Halifax
West Yorkshire
HX1 1EB
Business address
Templar House
1 Sandbeck Court
Sandbeck Way
Wetherby
West Yorkshire
LS22 7BA
Triton Group Holdings Ltd
Contents
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of income and retained earnings
8
Statement of financial position
9
Notes to the financial statements
10 - 15
Triton Group Holdings Ltd
Strategic Report
for the year ended 31 December 2023
- 1 -

The directors present the strategic report for the year ended 31 December 2023.

About the group

Triton Group Holdings Ltd incorporates Triton Security & Facilities Management Ltd, and Triton Risk Management Ltd and Graspan Frankton Ltd.

 

We provide our services to a wide range of customers across multiple sectors, which includes blue-chip organisations. Here at Triton we pride ourselves on delivering high quality services with exemplary care and due diligence. We are passionate about our business and customers and our excellent team who deliver those services.

 

Services

Triton Group is the brand we use to deliver a multitude of services which enable our customers to obtain a comprehensive and fully committed range of products in one location.

 

Triton Security & Facilities Management is one of the UK’s most trusted providers of security guards. We offer a comprehensive range of services from commercial security to public sector safeguarding. Whatever your needs, our staff are here to provide a safe and secure environment to help your business thrive, regardless of size or location.

 

Triton Risk Management continues to combine innovation and quality guarding, to provide our clients with a full end-to-end solution, coupling cutting edge technology with high-class manpower services. The company offers an enhanced strategic security solution providing a high quality and bespoke service to customers with either a greater level of risk or have unique security requirements. We select, train and deploy skilled and experienced personnel to a wide range of high risk and critical locations, including power stations, communications/technology hubs and sites deemed to be Critical National Infrastructure. We can provide a consultancy service, to work with you to determine your security needs and deliver a solution to meet them. Our military-trained experts can offer risk consultancy, covert assurance, training exercises, penetration testing and the specialist manpower to deliver a thorough operational solution tailored to your specific needs.

 

Graspan Frankton are a far reaching, forward facing security risk management company, which specialises in a range of high quality Physical and Technical Security, Risk Consultancy, Threat and Intelligence monitoring / reporting, Travel Management and Training solutions.

What we do

We work together as a group to offer many clients cradle to grave solutions for their projects. We manage and maintain our loyal customers across the United Kingdom (UK).

 

We truly get under the skin of our customers to understand how we can innovate their current security provision. We have a knowledgeable workforce and ‘can do’ attitude that ensures, we will deliver our vision for the future.

 

Our Purpose

To offer clients a wide range of services under our group.

 

Values

To carry out our work with integrity, to be committed to learning and striving for the best. Our company culture is based on our core values to be trustworthy, accountable and always dependable.  

 

Vision

To continue to grow and develop the business to become a market leader in the sectors we operate in.

 

Mission

Triton Group strives to continuously supply all our customers with a professional, effective and tailored service that they have all come to expect and deserve. This we achieve.

 

Suppliers

We are committed to ensuring a responsible supply chain. We work with all suppliers to ensure adherence to our Code of Conduct, including Modern Slavery and Human Trafficking, Safety and Sustainability objectives, and our vetting standards.

Triton Group Holdings Ltd
Strategic Report (continued)
for the year ended 31 December 2023
- 2 -
Development and performance

The companies subsidiaries continue to trade profitably in line with the directors expectations.

Future Developments

The group companies are committed to staying at the forefront of the industry. Anticipating evolving security challenges, we will continue to invest in cutting-edge technologies and training programs to empower our personnel with the latest skills and knowledge.

We will be expanding our cleaning division further in 2024. This expansion will enable us to provide comprehensive solutions that meet the evolving needs of our diverse clientele.

We are actively setting our sights on public sector tenders for the year 2024.

On behalf of the board

G Foxcroft
Director
28 March 2024
Triton Group Holdings Ltd
Directors' Report
for the year ended 31 December 2023
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Principal activities

The principal activity of the company continued to be that of a property and investment holding company.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £6,559,607. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A Wood
G Foxcroft
S Denny
(Appointed 27 April 2023 and resigned 25 May 2023)
Auditor

B M Howarth Ltd were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual 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 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:

 

 

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 of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Triton Group Holdings Ltd
Directors' Report (continued)
for the year ended 31 December 2023
- 4 -
On behalf of the board
G Foxcroft
Director
28 March 2024
Triton Group Holdings Ltd
Independent Auditor's Report
to the members of Triton Group Holdings Ltd
- 5 -
Opinion

We have audited the financial statements of Triton Group Holdings Ltd (the 'company') for the year ended 31 December 2023 which comprise the statement of income and retained earnings, the statement of financial position and notes to the financial statements, including 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:

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 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 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. 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 course of 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 our audit:

Triton Group Holdings Ltd
Independent Auditor's Report (continued)
to the members of Triton Group Holdings Ltd
- 6 -
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 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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 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.

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 company and the sector in which it operates, our audit work considers the risk of material misstatement on the financial statements as a result of non-compliance with laws and regulations, this includes fraud. These laws and regulations include, but are not limited to, those that relate to the form and content of the financial statements, such as the company accounting policies, the financial reporting framework and the UK Companies Act 2006.

 

We evaluated management incentives and opportunities for manipulation of the financial statements and determined that the principal risks related to management bias in accounting estimates and understatement or overstatement of revenue. Our audit procedures included, but were not limited to:

 

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error.

 

There are inherent limitations in audit procedures, the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Triton Group Holdings Ltd
Independent Auditor's Report (continued)
to the members of Triton Group Holdings Ltd
- 7 -

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 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.

Charles R Moorby
Senior Statutory Auditor
For and on behalf of B M Howarth Ltd
Chartered Accountants
Statutory Auditor
West House
King Cross Road
Halifax
West Yorkshire
HX1 1EB
28 March 2024
Triton Group Holdings Ltd
Statement of Income and Retained Earnings
for the year ended 31 December 2023
- 8 -
2023
2022
Notes
£
£
Turnover
2
359,118
377,054
Administrative expenses
50,725
(134,842)
Operating profit
3
409,843
242,212
Income from shares in group undertakings
5
5,389,000
3,151,510
Interest receivable from group undertakings
5
10,000
6,544
Interest payable
6
1,916
(1,283)
Amounts written off investments
7
(9,000)
-
Profit before taxation
5,801,759
3,398,983
Tax on profit
8
(68,925)
(47,019)
Profit for the financial year
5,732,834
3,351,964
Retained earnings brought forward
1,210,730
4,759,338
Dividends
9
(6,559,607)
(6,900,572)
Retained earnings carried forward
383,957
1,210,730

The income statement has been prepared on the basis that all operations are continuing operations.

Triton Group Holdings Ltd
Statement of financial position
as at 31 December 2023
- 9 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
10
9,190
18,190
Current assets
Debtors
12
3,323,104
3,283,800
Cash at bank and in hand
108,156
1,222,986
3,431,260
4,506,786
Creditors: amounts falling due within one year
13
(3,056,287)
(3,314,040)
Net current assets
374,973
1,192,746
Net assets
384,163
1,210,936
Capital and reserves
Called up share capital
14
206
206
Profit and loss reserves
383,957
1,210,730
Total equity
384,163
1,210,936

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.true

The financial statements were approved by the board of directors and authorised for issue on 28 March 2024 and are signed on its behalf by:
G Foxcroft
Director
Company registration number 08501041 (England and Wales)
Triton Group Holdings Ltd
Notes to the financial statements
for the year ended 31 December 2023
- 10 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions available to it.

 

The financial statements of the company are consolidated in the financial statements of TTGOC Ltd. These consolidated financial statements are available from its registered office, Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, West Yorkshire, LS22 7BA.

Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents the total invoice value, excluding value added tax, of rents receivable during the period and derives from the provision of services falling within the company's ordinary activities. Turnover is recognised on an accruals basis.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Triton Group Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 11 -
2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2023
2022
£
£
Turnover analysed by class of business
Management charges receivable
359,118
377,054
2023
2022
£
£
Other revenue
Interest income
10,000
6,544
Dividends received
5,389,000
3,151,510
3
Operating profit
2023
2022
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
7,500
7,500
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Sales, accounts and administration
2
2
5
Income from shares in group companies
2023
2022
£
£
Interest receivable from group companies
10,000
6,544
Income from shares in group undertakings
5,389,000
3,151,510
5,399,000
3,158,054
Disclosed on the income statement as follows:
Income from shares in group undertakings
5,389,000
3,151,510
Interest receivable from group undertakings
10,000
6,544
Triton Group Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 12 -
6
Interest payable
2023
2022
£
£
Other interest
(1,916)
1,283
7
Amounts written off investments
2023
2022
£
£
Other gains and losses
(9,000)
-
8
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
68,925
47,020
Adjustments in respect of prior periods
-
0
(1)
Total current tax
68,925
47,019

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation
5,801,759
3,398,983
Expected tax charge based on the standard rate of corporation tax in the UK of 23.50% (2022: 19.00%)
1,363,413
645,807
Tax effect of expenses that are not deductible in determining taxable profit
3,105
-
0
Tax effect of income not taxable in determining taxable profit
(2,122)
-
0
Gains not taxable
(29,056)
-
0
Dividend income
(1,266,415)
(598,788)
Taxation charge for the year
68,925
47,019
9
Dividends
2023
2022
£
£
Interim paid
6,559,607
6,900,572
Triton Group Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 13 -
10
Fixed asset investments
2023
2022
Notes
£
£
Investments in subsidiaries
11
9,190
18,190
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023
18,190
Disposals
(9,000)
At 31 December 2023
9,190
Carrying amount
At 31 December 2023
9,190
At 31 December 2022
18,190
11
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Indirect
Triton Security & Facilities Management Limited
1
Ordinary
97.50
-
Triton Risk Management Ltd
1
Ordinary
51.00
-
Graspan Frankton Ltd
2
Ordinary
0
26.00

All registered office addresses are:

1
Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, LS22 7BA
2
De La Rue (Gateshead), Kingsway South, Team Valley Trading Estate, Gateshead, NE11 0SQ
12
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,367
53,295
Corporation tax recoverable
-
0
12,980
Amounts owed by group undertakings
3,034,907
3,004,381
Other debtors
280,830
200,000
Prepayments and accrued income
-
0
13,144
3,323,104
3,283,800
Triton Group Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 14 -
13
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
156
Amounts owed to group undertakings
2,959,099
3,262,839
Corporation tax
11,925
-
0
Other taxation and social security
21,688
26,189
Other creditors
56,179
-
0
Accruals and deferred income
7,396
24,856
3,056,287
3,314,040
14
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
10,000
10,000
100
100
A Shares of 1p each
2,500
2,500
25
25
B Shares of 1p each
2,500
2,500
25
25
C Shares of 1p each
2,500
2,500
25
25
D Shares of 1p each
2,500
2,500
25
25
E Shares of 1p each
618
618
6
6
20,618
20,618
206
206
Triton Group Holdings Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 15 -
15
Related party transactions

In accordance with the exemptions available to the company, related party disclosures in respect of group transactions are not disclosed on the basis that the details of the subsidiary are included in the group financial statements of the parent company.

 

During the year the company made sales to Triton Project Solutions Ltd amounting to £14,757 (2022: £31,281). At 31 December 2023 the amount due from Triton Project Solutions Ltd was £183,317 (2022: £3,265). G Foxcroft and A Wood are directors of Triton Project Solutions Ltd.

 

During the year the company made sales to TritonTrak Ltd amounting to £4,491 (2022: £19,819).

At 31 December 2023 the amount due from TritonTrak Ltd was £269 (2022: £nil).

G Foxcroft and A Wood are directors of TritonTrak Ltd.

 

During the year the company made sales to Triton Recruitment Ltd amounting to £57,267 (2022: £101,506).

At 31 December 2023 the amount owed to Triton Recruitment Ltd was £66,204 (2022: £nil).

G Foxcroft and A Wood are directors of Triton Recruitment Ltd.

 

At 31 December 2023 the amount due from Foxwood Ltd was £99,474 (2022: £nil). G Foxcroft and A Wood are directors of Foxwood Ltd.

16
Ultimate controlling party

The parent company of Triton Group Holdings Ltd is Triton Group of Companies Ltd and its registered office is Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, LS22 7BA.

The ultimate parent company of Triton Group Holdings Ltd is TTGOC Ltd and its registered office is Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, West Yorkshire, LS22 7BA.

17
Company information

Triton Group Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, West Yorkshire, LS22 7BA.

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