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

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 that allows businesses 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 combines 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.

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.

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.

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.

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 2025 and 2026.

On behalf of the board

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

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.

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.

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

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.

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

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

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.

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.

The truegroup 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.

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.

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:

• The information given in the strategic report and the directors' report 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.

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 identified material misstatements in the strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent company financial statements are not in agreement with the accounting records 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.

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 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.

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.

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.

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

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.

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.

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.

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 group.

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.

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.

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.

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.

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:

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.

In 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.

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from 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 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.

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

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 leased asset are consumed.

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

Their aggregate remuneration comprised:

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.

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:

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

Registered office addresses (all UK unless otherwise indicated):

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.

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.

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

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:

The company was controlled throughout the year by the directors.