Company registration number 15734046 (England and Wales)
TRITON CONSORTIUM LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
TRITON CONSORTIUM LTD
COMPANY INFORMATION
Directors
J Manojlovic
L Paver
L Gibson
Company number
15734046
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
TRITON CONSORTIUM LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group statement of financial position
9
Company statement of financial position
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 23
TRITON CONSORTIUM LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

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

Review of the business

Triton Consortium Ltd incorporates Triton Group of Companies Ltd, Triton Group Holdings Ltd, Triton Security & Facilities Management Ltd, and Triton Risk Management Ltd.

Triton Consortium has established itself as a trusted, multi-disciplinary group providing security, risk management, and specialised support services. The consortium leverages its breadth of expertise, cross-industry partnerships, and operational excellence to deliver integrated solutions for clients in both the public and private sectors.

This strategic review highlights Triton Consortium's current position, strengths, challenges, and forward-looking opportunities to ensure sustainable growth, operational resilience, and competitive differentiation.

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 and services under out trusted name.

Triton Security & Facilities Management is one of the UK’s most trusted providers of security officers, offering a comprehensive range of services from commercial security to public sector safeguarding. Whatever the requirement, our staff are here to provide a safe and secure environment t hat allows business es to thrive, regardless of size or location or location, while our expansion into the fire safety sector has broadened our ability to protect clients across multiple risk areas.

Triton Risk Management combine s innovation and expertise to deliver full end-to-end solution, coupling cutting edge technology with highly skilled manpower to meet the most complex security needs. From risk consultancy, covert assurance, training exercises, penetration testing to the deployment of specialist personnel in high-risk and critical environments such as ports, mines, and Critical National Infrastructure, we ensure every solution is bespoke, thorough, and aligned with the unique needs of our clients.

Principal risks and uncertainties

As a Group, we provide clients with integrated, end-to-end solutions that support the full lifecycle of their projects, while maintaining long-standing customer relationships across the united Kingdom. Our ability to truly understand our clients' operations enables us to continually innovate and enhance their security provision, ensuring services remain effective, resilient, and future ready. We recognise that our success depends on the strength of our workforce, whose expertise, professionalism, and proactive mindset underpin our ability to deliver on our vision. Looking ahead, our principal risks and uncertainties include evolving client expectations, increasing regulatory complexity, competitive market pressures, and the need to attract and retain specialist talent. By embedding innovation, adaptability, and a customer-first approach into our operations, we are confident in our ability to mitigate these risks and maintain sustainable growth.

Our Purpose

To build confidence for the whole community. By being restless for better, by seeing challenges as opportunities, and by engaging with straight-talking pragmatism, we supply far more security - we secure confidence wherever we go.

Values

To be trustworthy, accountable and always dependable. We carry out work with integrity, and we're committed to learning and striving for best.

Vision

To take the best care of our clients, communities and colleagues, while working to become the market leader in our specialist sectors.

TRITON CONSORTIUM LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

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 and ethical supply chain. Operating n line with COP119 standards, we work exclusively with suppliers who meet our rigorous code of conduct covering Modern Slavery and Human Trafficking, Health and Safety, Sustainability objectives, and strict vetting requirements. This approach not only supports our corporate responsibility goals but also strengthens the resilience of our operations.

Development and performance

The Group's subsidiaries continue to trade profitably and in line with expectations of the directors, reflecting both operational resilience and disciplined financial management. The Group remains committed to maintaining its position at the forefront of the security and risk management industry. By anticipating evolving security challenges, we will continue to invest in cutting-edge technologies, advanced training programmes, and professional development initiatives that ensure our personnel are equipped with the latest skills and expertise. Looking ahead, the Group is actively targeting public sector tenders throughout the remainder of 2025 and into 2026, strengthening our pipeline of opportunities and supporting our long-term growth strategy.

Other information and explanations

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 are actively setting our sights on public sector tenders for the remaining of 202 5 and 2026.

On behalf of the board

L Paver
Director
2 October 2025
TRITON CONSORTIUM LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

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

Principal activities

The principal activity of the company is that of a holding company. The group subsidiaries operations are as follows:

Triton Group of Companies Ltd - Holdings company

Triton Group Holdings Ltd - Holdings company

Triton Security & Facilities Management Limited - Provider of security and facilities management

Triton Risk Management Limited - Specialised security services, health and safety operations and rescue training.

Results and dividends

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

Ordinary dividends were paid amounting to £210,963. The directors do not recommend payment of a further dividend.

Directors

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

J Manojlovic
(Appointed 30 September 2024)
L Paver
(Appointed 22 May 2024)
G Foxcroft
(Appointed 22 September 2024 and resigned 25 September 2024)
A Wood
(Appointed 22 September 2024 and resigned 25 September 2024)
L Gibson
(Appointed 30 September 2024)
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The group's policy is to consult and discuss with employees at meetings, matters likely to affect employees' interests.

Auditor

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

Energy and carbon report

As the group has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

TRITON CONSORTIUM LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
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 group and company, 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 UK 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 group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Strategic report

The true group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

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 auditor of the company 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 auditor of the company is aware of that information.

On behalf of the board
L Paver
Director
2 October 2025
TRITON CONSORTIUM LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TRITON CONSORTIUM LTD
- 5 -
Opinion

We have audited the financial statements of Triton Consortium Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows 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:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2024 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 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's and 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 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:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

TRITON CONSORTIUM LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TRITON CONSORTIUM LTD
- 6 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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 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 directors' r esponsibilities s tatement, 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 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 parent 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:

- Agreement of the financial statements disclosures to underlying supporting documentation;

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

- Challenging assumptions, accounting estimates and judgements made by Directors;

- Review of underlying records to ensure completeness of income;

- Identifying and testing journal entries to ensure they are appropriate;

- Sample testing of income and expenditure to ensure correct cut-off has been applied.;

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.

TRITON CONSORTIUM LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TRITON CONSORTIUM LTD
- 7 -

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.

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, Statutory Auditor
Chartered Accountants
West House
King Cross Road
Halifax
West Yorkshire
HX1 1EB
2 October 2025
TRITON CONSORTIUM LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
Notes
£
Turnover
2
11,263,460
Cost of sales
(8,631,041)
Gross profit
2,632,419
Administrative expenses
(1,325,917)
Operating profit
3
1,306,502
Interest payable and similar expenses
7
(311,044)
Profit before taxation
995,458
Tax on profit
10
(493,932)
Profit for the financial year
501,526
Profit for the financial year is attributable to:
- Owners of the parent company
(39,562)
- Non-controlling interests
541,088
501,526
Total comprehensive income for the year is attributable to:
- Owners of the parent company
(39,562)
- Non-controlling interests
541,088
501,526
TRITON CONSORTIUM LTD
GROUP STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
Notes
£
£
Fixed assets
Goodwill
11
31,264,051
Tangible assets
12
115,734
31,379,785
Current assets
Debtors
15
9,363,521
Cash at bank and in hand
761,118
10,124,639
Creditors: amounts falling due within one year
16
(19,568,089)
Net current liabilities
(9,443,450)
Total assets less current liabilities
21,936,335
Creditors: amounts falling due after more than one year
17
(19,358,017)
Provisions for liabilities
Deferred tax liability
18
17,280
(17,280)
Net assets
2,561,038
Capital and reserves
Called up share capital
19
100
Profit and loss reserves
(250,524)
Equity attributable to owners of the parent company
(250,424)
Non-controlling interests
2,811,462
Total equity
2,561,038
The financial statements were approved by the board of directors and authorised for issue on 2 October 2025 and are signed on its behalf by:
02 October 2025
L Paver
Director
Company registration number 15734046 (England and Wales)
TRITON CONSORTIUM LTD
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 10 -
2024
Notes
£
£
Fixed assets
Investments
13
37,536,315
37,536,315
Current assets
-
Creditors: amounts falling due within one year
16
(12,656,032)
Net current liabilities
(12,656,032)
Total assets less current liabilities
24,880,283
Creditors: amounts falling due after more than one year
17
(19,345,690)
Net assets
5,534,593
Capital and reserves
Called up share capital
19
100
Profit and loss reserves
5,534,493
Total equity
5,534,593

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £5,745,456.

The financial statements were approved by the board of directors and authorised for issue on 2 October 2025 and are signed on its behalf by:
02 October 2025
L Paver
Director
Company registration number 15734046 (England and Wales)
TRITON CONSORTIUM LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
Share capital
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
Balance at 22 May 2024
-
0
-
0
-
0
-
0
-
0
Year ended 31 December 2024:
Profit and total comprehensive income
-
(39,562)
(39,562)
541,088
501,526
Issue of share capital
19
100
-
100
-
100
Dividends
8
-
(210,962)
(210,962)
(116,969)
(327,931)
Acquisition of subsidiaries
-
-
-
2,387,343
2,387,343
Balance at 31 December 2024
100
(250,524)
(250,424)
2,811,462
2,561,038
TRITON CONSORTIUM LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 22 May 2024
-
0
-
0
-
0
Year ended 31 December 2024:
Profit and total comprehensive income
-
5,745,456
5,745,456
Issue of share capital
19
100
-
100
Dividends
8
-
(210,963)
(210,963)
Balance at 31 December 2024
100
5,534,493
5,534,593
TRITON CONSORTIUM LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
2024
Notes
£
£
Cash flows from operating activities
Cash generated from operations
22
18,991,291
Interest paid
(311,044)
Income taxes paid
(1,365,201)
Net cash inflow from operating activities
17,315,046
Investing activities
Purchase of business
(13,526,011)
Proceeds from disposal of tangible fixed assets
12,513
Net cash used in investing activities
(13,513,498)
Financing activities
Proceeds from issue of shares
100
Repayment of borrowings
(2,697,666)
Payment of finance leases obligations
(14,933)
Dividends paid to equity shareholders
(210,962)
Dividends paid to non-controlling interests
(116,969)
Net cash used in financing activities
(3,040,430)
Net increase in cash and cash equivalents
761,118
Cash and cash equivalents at beginning of year
-
0
Cash and cash equivalents at end of year
761,118
TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
1
Accounting policies
Company information

Triton Consortium Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, West Yorkshire, LS22 7BA.

The group consists of Triton Consortium Ltd and all of its subsidiaries.

1.1
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 a mounts 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.

The 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 from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Triton Consortium Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases. The group financial statements include the results and cashflows of all subsidiaries from acquisition on 30 September 2024 up to the balance sheet date of 31 December 2024.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group 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.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised on supply of services to the customer.

TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% straight line basis
Fixtures and fittings
33% straight line/15%-20% reducing balance basis
Motor vehicles
25% reducing balance basis

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

1.7
Fixed asset investments

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

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

1.8
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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.10
Leases

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

2
Turnover
2024
£
Turnover analysed by class of business
Security and Facilities Management
9,444,390
Security, Health and Safety and Rescue Training
1,819,070
11,263,460
3
Operating profit
2024
£
Operating profit for the year is stated after charging:
Depreciation of owned tangible fixed assets
8,256
Loss on disposal of tangible fixed assets
3,323
Amortisation of intangible assets
801,642
Operating lease charges
43,706
4
Auditor's remuneration
2024
Fees payable to the company's auditor and associates:
£
For audit services
Audit of the financial statements of the group and company
5,000
Audit of the financial statements of the company's subsidiaries
10,000
15,000
TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
5
Employees

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

Group
Company
2024
2024
Number
Number
Directors
3
3
Security Staff
336
-
Sales, accounts and administration
35
-
Total
374
3

Their aggregate remuneration comprised:

Group
Company
2024
2024
£
£
Wages and salaries
2,508,618
13,192
Social security costs
232,254
-
Pension costs
46,574
-
0
2,787,446
13,192
6
Directors' remuneration
2024
£
Remuneration for qualifying services
4,548
7
Interest payable and similar expenses
2024
£
Interest on bank overdrafts and loans
6,841
Interest on invoice finance arrangements
84,516
Dividends on non equity shares
27,250
Interest on hire purchase contracts
2,652
Other interest
189,785
Total finance costs
311,044
TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
8
Dividends
2024
Recognised as distributions to equity holders:
£
Final paid
210,963
9
Retirement benefit schemes
2024
Defined contribution schemes
£
Charge to profit or loss in respect of defined contribution schemes
46,574

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

10
Taxation
2024
£
Current tax
UK corporation tax on profits for the current period
499,654
Adjustments in respect of prior periods
2,160
Total current tax
501,814
Deferred tax
Origination and reversal of timing differences
(7,882)
Total tax charge
493,932

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

2024
£
Profit before taxation
995,458
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00%
248,865
Tax effect of expenses that are not deductible in determining taxable profit
11,040
Unutilised tax losses carried forward
31,457
Adjustments in respect of prior years
2,160
Goodwill amortisation
200,410
Taxation charge
493,932
TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 22 May 2024
-
0
Additions
32,065,693
At 31 December 2024
32,065,693
Amortisation and impairment
At 22 May 2024
-
0
Amortisation charged for the year
801,642
At 31 December 2024
801,642
Carrying amount
At 31 December 2024
31,264,051
The company had no intangible fixed assets at 31 December 2024.
12
Tangible fixed assets
Group
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 22 May 2024
-
0
-
0
-
0
-
0
Additions
55,750
51,266
32,807
139,823
Disposals
-
0
-
0
(17,117)
(17,117)
At 31 December 2024
55,750
51,266
15,690
122,706
Depreciation and impairment
At 22 May 2024
-
0
-
0
-
0
-
0
Depreciation charged in the year
1,507
4,653
2,096
8,256
Eliminated in respect of disposals
-
0
-
0
(1,284)
(1,284)
At 31 December 2024
1,507
4,653
812
6,972
Carrying amount
At 31 December 2024
54,243
46,613
14,878
115,734
The company had no tangible fixed assets at 31 December 2024.
TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
13
Fixed asset investments
Group
Company
2024
2024
Notes
£
£
Investments in subsidiaries
14
-
0
37,536,315
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 22 May 2024
-
Additions
37,536,315
At 31 December 2024
37,536,315
Carrying amount
At 31 December 2024
37,536,315
14
Subsidiaries

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

Name of undertaking
Address
Class of
% Held
shares held
Direct
Indirect
Triton Group of Companies Ltd
1
Ordinary
75.00
-
Triton Group Holdings Ltd
1
Ordinary
0
75.00
Triton Risk Management Ltd
1
Ordinary
0
38.25
Triton Security & Facilities Management Ltd
1
Ordinary
0
73.13

Registered office addresses (all UK unless otherwise indicated):

1
Templar House, 1 Sanbeck Court, Sandbeck Way, Wetherby, LS22 7BA

The group holds a 38.25% interest in Triton Risk Management Limited. Although this represents less than a majority of voting rights, the directors have concluded that the group controls Triton Risk Management Limited by virtue of its contractual rights to appoint the majority of the board. Accordingly, Triton Risk Management Limited has been treated as a subsidiary and is fully consolidated.

TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
15
Debtors
Group
Company
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
7,646,279
-
0
Corporation tax recoverable
108,730
-
0
Other debtors
791,203
-
0
Prepayments and accrued income
817,309
-
0
9,363,521
-
16
Creditors: amounts falling due within one year
Group
Company
2024
2024
Notes
£
£
Bank loans
141,037
-
0
Obligations under hire purchase
10,126
-
0
Trade creditors
10,196,261
-
0
Invoice finance
3,113,792
-
0
Amounts owed to group undertakings
-
0
8,658,375
Corporation tax payable
75,846
-
0
Other taxation and social security
824,826
-
Other creditors
4,107,147
3,997,657
Accruals and deferred income
1,099,054
-
0
19,568,089
12,656,032

The invoice finance creditor is secured on the book debts of subsidiary company, Triton Security & Facilities Management Limited. Obligations under hire purchase contracts are secured on the assets to which they relate.

17
Creditors: amounts falling due after more than one year
Group
Company
2024
2024
Notes
£
£
Bank loans
12,327
-
0
Other creditors
19,345,690
19,345,690
19,358,017
19,345,690
TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
18
Deferred taxation

The following are the deferred tax liabilities recognised by the group and company, and movements thereon:

Liabilities
2024
Group
£
Accelerated capital allowances
17,280
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Asset at 22 May 2024
-
-
Credit to profit or loss
(7,882)
-
Recognised on acquisition
25,162
-
Liability at 31 December 2024
17,280
-
19
Share capital
Group and company
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
A Ordinary of £1 each
61
61
B Ordinary of £1 each
8
8
C Ordinary of £1 each
8
8
D Ordinary of £1 each
8
8
E Ordinary of £1 each
5
5
F Ordinary of £1 each
3
3
G Ordinary of £1 each
3
3
H Ordinary of £1 each
2
2
I Ordinary of £1 each
2
2
100
100
TRITON CONSORTIUM LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 23 -
20
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2024
2024
£
£
Within one year
196,631
-
Between two and five years
247,546
-
444,177
-
21
Controlling party

The company was controlled throughout the year by the directors.

22
Cash generated from group operations
2024
£
Profit after taxation
501,526
Adjustments for:
Taxation charged
493,932
Finance costs
311,044
Loss on disposal of tangible fixed assets
3,323
Amortisation and impairment of intangible assets
801,642
Depreciation and impairment of tangible fixed assets
8,256
Movements in working capital:
Decrease in debtors
27,200,015
Decrease in creditors
(10,328,447)
Cash generated from operations
18,991,291
23
Analysis of changes in net funds - group
22 May 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
-
761,118
761,118
Borrowings excluding overdrafts
-
(153,364)
(153,364)
Obligations under finance leases
-
(10,126)
(10,126)
-
597,628
597,628
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