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Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2025
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TTG GLOBAL SOLUTIONS GROUP LIMITED
COMPANY INFORMATION
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TTG GLOBAL SOLUTIONS GROUP LIMITED
CONTENTS
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TTG GLOBAL SOLUTIONS GROUP LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The Directors, in preparing this strategic report, have complied with s414C of the Companies Act 2006.
TTG Global Solutions Group Limited is the holding company for the TTG Global Solutions Group Limited group (“Group”).
The Group is a global provider of critical communications, enabling businesses to connect complex and divergent technologies together. The Group is a telecommunications group providing telecommunication services to a number of sectors internationally. The three main trading companies of the group are Simoco EMEA Limited, Simoco Wireless Solutions Pty Limited and Simoco Systems Limited (formerly Thorcom Systems Limited).
The principal activities of the Group, which has operating locations in the UK, Australia and Taiwan, include:
∙Professional Mobile Radio (PMR) systems, products and services;
∙Mobile and fixed LTE & IOT products and systems;
∙RTU & SCADA products and maintenance and asset management;
∙Mobile Broadband including our Velocity range;
∙Telemetry products; and
∙The design, build and operation of all types of Radio and Wireless systems for mission critical clients and their challenging environments.
The results for the Group show a pre tax profit of £0.2m (2024 - £1.0m) and a retained profit of £1.4m (2024 - £0.8m).
Whilst turnover and profitability saw a decline in the year across the Company’s subsidiaries the business remained profitable and cash balances improved during the year. We saw a number of good contracts won and delivered and the sales pipeline remains strong as our mobile and fixed LTE & IOT product development brings new clients and opportunities for growth. At the end of the period the individual businesses and the Group are in a strong trading position. With healthy results for the year to date and with a healthy order book and pipeline and Directors of the Company expect that its subsidiaries will deliver strong results for the full year for 2025-26. Overall management therefore believe that the underlying trading will continue to improve and expects a stronger performance for the Company’s subsidiaries in the coming years. The cash position of the Group shows a positive position with cash of £0.9m at October 2025. The Group has adequate funding facilities in place, through HSBC; and the ability to generate other facilities through the exploitation of its assets; to fulfil the needs and requirements of the Group. The Group specialises in supporting a number of key industry verticals in all of their communication requirements. These include, rail and road, utilities, energy, mining, local and national government and emergency services. The Group combines consultancy, in house R & D, systems and maintenance engineers to create whole of life, bespoke solutions for clients requiring mission critical communications anywhere in the world. The directors of the business are satisfied with the development, performance and position of the Group.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
Through its research and development teams, based in both the UK & Australia, the Group continues to innovate and to invest & develop its range of LTE / IOT edge computing products, DMR (Digital Mobile Radio), P25 1 & 2 radios and Telemetry products. Following the future trends of our industry, we see our next generation LTE & IOT solutions becoming increasingly important to the Group. This includes our Velocity product range where users can seamlessly access through one device, LTE and other broadband voice and data services along with satellite or narrowband, high reliability voice (DMR/P25/ MPT) services.
As the Company does not trade the Directors do not consider any KPI's to be relevant to the Company.
The Directors consider the following KPIs to be the principal measures of performance in relation to the Group. These key performance indicators are reviewed on an ongoing basis by the Directors. In addition, each of the individual businesses in the group has their own set of key performance indicators that are detailed in their individual statements. The Group has chosen 4 KPIs to monitor – Operating profit/(loss), annualised turnover growth, working capital requirements (excluding cash, deferred tax and debt) and cash generated from trading (cash inflow before financing and before returns on investment and servicing of finance). These KPIs reflect the health of the Group. The group targets growth in operating profit and turnover as indicators that the group is improving its financial position, whilst changes in working capital requirements and cash generation from trading reflect the Group’s ability to generate cash and thus continue to trade.
The Directors consider the greatest risk and uncertainty facing the Company are those that impact its subsidiaries and as such they are felt to be the take up by customers of the new technology being developed and that a proportion of the subsidiaries business is generated through significant contracts, the timing of which is sometimes uncertain. The individual subsidiaries have been successful in winning such contracts in the current and prior years and the Directors have confidence in the ability of the subsidiaries to win such contracts in the coming year and beyond.
In addition, the telecom's industry is a fast-moving industry and the Directors are mindful that the subsidiaries need to keep at the forefront of technology to be able to support and supply their customers with their requirements.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The principal risks and uncertainties of the Company and its subsidiaries are:
∙The continued profitability of its trading subsidiaries;
∙Sales of the new DMR technology. Simoco EMEA Limited and Simoco Wireless Solutions Pty Limited have developed new DMR (digital radio) technology. The volume of sales of this new technology will have a significant impact on the financial strength of the Group, and as with all new technologies there is uncertainty as to the levels of sales this new technology will see;
∙The launch and take up of our new Velocity LTE product, and other future LTE products;
∙The exchange rate between Sterling, the US dollar and the Australian dollar and thus the consequence for the cost of the subsidiaries raw materials;
∙Cash generation and access to cash resources is required by all companies to continue to trade. The Group forecasts cash generation for the foreseeable future, and has in place facilities with HSBC to enable each company to have adequate facilities available for the foreseeable future;
∙Supply chains - partially as a result of political uncertainty around the world and the growth in AI on factory owners priorities around manufacturing has seen disruption to supply chains; this impacts on the subsidiaries in extended delivery times and fluctuations in prices impacting both its outsourced manufacturing chain and its 3rd party supplied products. This affects the market in general and the subsidiaries are working with their suppliers and customers to minimise the impact on the business and our partners; and
∙Climate change – whilst this is not considered a principal risk to the business, the Directors are aware of the growing impact on businesses and industries. The Group continues to take measures to reduce its impact on the environment, and updates its disaster recovery plan to ensure that any impacts can be successfully negotiated.
The Company does not trade and as a result the going concern considerations are the same as those of the Group. The Group’s business activities, together with the factors likely to affect its future development, performance and position are set out in the Business Review, which forms part of the Strategic Report. The Strategic Report also describes the financial position of the Group; its cash flows, liquidity position and borrowing facilities; its principal risks and uncertainties; its financial risk management objectives; details of its financial instruments and hedging activities; and its exposure to credit risk and liquidity risk.
The current economic conditions create uncertainty particularly over (a) the level of demand for the Group’s products; (b) the exchange rate between Sterling and the US Dollar and the Australian Dollar and thus the consequence for the cost of the Group’s raw materials; and (c) the availability of bank finance in the foreseeable future; all of which have been considered and factored into the forecasts produced to consider the Company's and Group’s going concern review.
At the date of these accounts the only borrowings in the Group relate to the £1.0m mortgage facilities on the Group's Derby property. The Group's committed debt repayments over the next 12 months consist of mortgage payments totalling £0.1m. The overdraft and banking facilities are undrawn and cash balances at 30 June 2026 were £1.5m.
The Group has procedures in place for reviewing future performance including budgeted and forecast trading and profitability. These forecasts include reasonable assumptions and predictions over assumed customers and turnover; they take a prudent view of the costs of the business.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
Overall the Group saw revenues of £15.8m in 2024/25 and trading profit of £0.2m. The Group has seen strong trading results during the start of 2025-26 and with a healthy pipeline and new product offerings coming on line, we therefore expect steady turnover growth in the coming years, which should drive the profitability of the business. In addition, the Group has cash resources and banking facilities in place to enable it to continue in operational existence for the 12 months from the signing of these accounts. The Group, like most other trading groups, is exposed to fluctuations in trading and the need to continually win and deliver new contracts on a profitable basis to new and existing customers to ensure its continued success and survival. The Directors believe that their forecasts, give a reasonable expectation to assume that the Group will have adequate resources to continue in existence for the 12 months from the signing of these accounts. The Group at the year end had in place an overdraft facility with HSBC, which renews annually and a mortgage on the Group’s property of £1m, which is repayable in instalments with the final instalment due in 2030. Both facilities have interest rates at commercial levels linked to the UK base rate. In addition, the Group has loan notes of £0.1m, which were repaid subsequent to the year end. The Directors consider that these facilities are adequate for the current needs of the Company and Group and have considered and factored them into the forecasts produced to consider the Group’s going concern review. Taking the matters above into account, the directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence for the 12 months from the signing of these accounts. Accordingly, the going concern basis of preparation has been adopted in the financial statements.
This report was approved by the board on 20 July 2026 and signed on its behalf.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their report and the financial statements for the year ended 31 October 2025.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1.5 million (2024 - £1 million).
The directors proposed and paid dividends of £Nil (2024 - £137,569) during the year.
The Company's financial risk management objectives and policies are considered on a group basis. The Group's activities expose it to a number of financial risks including cash flow risk, credit risk, interest rate risk and liquidity risk. The use of financial derivatives is governed by the Group’s policies approved by the board of directors, which provide written principles on the use of financial derivatives to manage these risks. The Group does not use derivative financial instruments for speculative purposes. The Group has a robust set of internal control and risk management systems in relation to financial reporting, with the underlying records being maintained by individuals with adequate levels of role segregation, with these records and management accounts being reviewed by senior financial executives. The management accounts together with supporting reports are presented and reviewed by the Board on a monthly basis.
The Group’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates,
interest rates and requirement for capital expenditure. Interest bearing liabilities are held at fixed rates to limit uncertainty of cash flows.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The Group’s principal financial assets are bank balances and cash, trade and other receivables.
The Group’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The companies in the Group have historically had little experience of debts going bad principally as they work for large and blue chip companies. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies. The Group has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the Group uses a mixture of long-term and short-term debt finance. For long-term contracts, the Group normally sets payment terms that are in line with the procurement process minimising the level of risk the Group is exposed to in terms of cash flow and working capital at any one time. Interest rate risk The Group's activities expose it primarily to the financial risks of changes in interest rates which are managed through long term agreements or at fixed rates to limit uncertainty of cash flows.
The Company has made qualifying third-party indemnity provisions for the benefits of its Directors which were in place throughout the period and remain in force at the date of this report. It is also for the benefit of all the Directors throughout the other companies in the Group.
The directors who served during the year were:
Comments on future developments are disclosed in the Group Strategic Report.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
There have been no significant events affecting the Company since the year end.
The auditors, PKF Smith Cooper Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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TTG GLOBAL SOLUTIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TTG GLOBAL SOLUTIONS GROUP LIMITED
We have audited the financial statements of TTG Global Solutions Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 October 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
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 or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TTG GLOBAL SOLUTIONS GROUP LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group 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 Group 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 its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TTG GLOBAL SOLUTIONS GROUP LIMITED (CONTINUED)
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 Auditors' 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the Group and industry in which it operates, key laws and regulations that we identified included:
∙Tax legislation;
∙Health and safety legislation; and
∙Employment legislation.
We identified that the principal risk of fraud or non-compliance with laws and regulations related to:
∙Management bias in respect of accounting estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
We focused on those areas that could give rise to a material misstatement in the Group's financial statements.
Our procedures included, but were not limited to:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims including instances of non-compliance with laws and regulations and fraud;
∙Reviewing minutes of meetings of those charged with governance, where available;
∙Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias, in particular revenue recognition on long-term projects and maintenance contracts, capitalisation of development costs, carrying value of negative goodwill and amortisation, depreciation of tangible fixed assets, stock provisions and recoverability of deferred tax.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TTG GLOBAL SOLUTIONS GROUP LIMITED (CONTINUED)
It is the primary responsibility of management, with the oversight of those charged with governance, to ensure
that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.
for and on behalf of
Statutory Auditors
Cornerblock
2 Cornwall Street
B3 2DX
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TTG GLOBAL SOLUTIONS GROUP LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
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TTG GLOBAL SOLUTIONS GROUP LIMITED
REGISTERED NUMBER: 14056999
CONSOLIDATED BALANCE SHEET
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 July 2026.
The notes on pages 19 to 40 form part of these financial statements.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
REGISTERED NUMBER: 14056999
COMPANY BALANCE SHEET
AS AT 31 OCTOBER 2025
The Company's profit for the year was £nil (2024: £0.1m)
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 19 to 40 form part of these financial statements.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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TTG GLOBAL SOLUTIONS GROUP LIMITED
The notes on pages 19 to 40 form part of these financial statements.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025
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TTG GLOBAL SOLUTIONS GROUP LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 OCTOBER 2025
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
TTG Global Solutions Group Limited is a private limited company, limited by shares and incorporated in England and Wales, United Kingdom. The address of the registered office is given in the company information of these financial statements. The Company's registration number is 14056999. The nature of the Group's operations and its principal activities are described in the Strategic report on page 1.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The financial statements are prepared in Sterling which is the functional currency of the Group and are rounded to the nearest million pounds. Foreign operations are included in accordance with the policies set out below.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the Group. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The Company does not trade and as a result the going concern considerations are the same as those of the Group. The Group’s business activities, together with the factors likely to affect its future development, performance and position are set out in the Business Review, which forms part of the Strategic Report. The Strategic Report also describes the financial position of the Group; its cash flows, liquidity position and borrowing facilities; its principal risks and uncertainties; its financial risk management objectives; details of its financial instruments and hedging activities; and its exposure to credit risk and liquidity risk.
The current economic conditions create uncertainty particularly over (a) the level of demand for the Group’s products; (b) the exchange rate between Sterling and the US Dollar and the Australian Dollar and thus the consequence for the cost of the Group’s raw materials; and (c) the availability of bank finance in the foreseeable future; all of which have been considered and factored into the forecasts produced to consider the Company and Group’s going concern review. At the date of these accounts the only borrowings in the Group relate to the £1.0m mortgage facilities on the Group's Derby property. The Group's committed debt repayments over the next 12 months consist of mortgage payments totalling £0.1m. The overdraft and banking facilities are undrawn and cash balances at 30 June 2026 were £1.5m. The Group has procedures in place for reviewing future performance including budgeted and forecast trading and profitability. These forecasts include reasonable assumptions and predictions over assumed customers and turnover; they take a prudent view of the costs of the business. Overall the Group saw revenues of £15.8m in 2024/25 and trading profit of £0.2m. The Group has seen strong trading results during the start of 2025-26 and with a healthy pipeline and new product offerings coming on line, we therefore expect steady turnover growth in the coming years, which should drive the profitability of the business. In addition, the Group has cash resources and banking facilities in place to enable it to continue in operational existence for the 12 months from the signing of these accounts. The Group, like most other trading groups, is exposed to fluctuations in trading and the need to continually win and deliver new contracts on a profitable basis to new and existing customers to ensure its continued success and survival. The Directors believe that their forecasts, give a reasonable expectation to assume that the Group will have adequate resources to continue in existence for the 12 months from the signing of these accounts. The Group at the year end had in place an overdraft facility with HSBC, which renews annually and a mortgage on the Group’s property of £1m, which is repayable in instalments with the final instalment due in 2030. Both facilities have interest rates at commercial levels linked to the UK base rate. In addition, the Group has loan notes of £0.1m, which were repaid subsequent to the year end. The Directors consider that these facilities are adequate for the current needs of the Company and Group and have considered and factored them into the forecasts produced to consider the Group’s going concern review. Taking the matters above into account, the directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence for the 12 months from the signing of these accounts. Accordingly, the going concern basis of preparation has been adopted in the financial statements.
Page 20
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Transactions and balances
Long-term contracts Revenue arising from long-term contracts is recognised in the Consolidated Statement of Comprehensive Income over the term of the related long-term contract so as to match the revenue and profits arising with related costs incurred to date. The amount of long-term contracts, at costs incurred, net of amounts transferred to cost of sales, after deducting foreseeable losses and payments on account not matched with revenue, is included in debtors as amounts recoverable on contracts.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Interest bearing bank loans and overdrafts are recorded at the proceeds received, net of direct issue costs. Finance charges, including premiums payable on settlement of redemption and direct issue costs, are accounted for on an accruals basis in the Consolidated Statement of Comprehensive Income using the effective interest rate method and are added to the carrying amount of the instrument to the extent that they are not settled in the period in which they arise.
The contributions are recognised as an expense in the Consolidated Statement of Comprehensive Income when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Negative Goodwill
Goodwill represents the difference between amounts paid on the cost of business combinations and the acquirer's interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Negative goodwill arises where the purchase price of the business combination is less than the fair value of the Group's share of its identifiable assets and liabilities of the acquiree on acquisition. Subsequent to initial recognition, negative goodwill is recognised in the Consolidated Statement of Comprehensive Income over the period in which the non-monetary assets acquired are recovered.
Negative goodwill on the non-monetary assets acquired is amortised through the Consolidated Statement of Comprehensive Income on the following basis:
∙Tangible fixed assets - as recovered, based on the depreciation or disposal of the relevant assets
of the acquired subsidiaries.
∙Stock - as recovered based on the disposal of stock of the acquired subsidiaries
∙Intangible assets - over the period in which non-monetary assets acquired are recovered.
Research and Development
Research expenditure is written off as incurred. Development expenditure is also written off, with the exception of development expenditure where the Directors are satisfied as to the technical, commercial and financial viability of individual projects.
In such cases, the identifiable expenditure is deferred and amortised over the period which the Group is expected to benefit. Provision is made for any impairment. The costs relate to the development of radio infrastructure and handsets. This relates to a variety of developments, some of which are currently being amortised. Amortisation is calculated over 7 years for infrastructure and 6 years for handsets from the date of first production.
Page 23
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively, if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Comprehensive Income.
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received, however, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Page 25
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Equity instruments are measured at fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Critical judgements in applying the Company's accounting policies The following critical judgements, apart from those involving estimations (which are dealt with separately below), that the directors have made in the process of applying the Group's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Research expenditure is written off as incurred. Development expenditure is also written off, with the exception of development expenditure incurred on major new product projects where the directors are satisfied that the technical, commercial and financial viability of individual projects and their recoverability through future cash generation is in accordance with FRS 102. An impairment would be made where the Directors estimate based on forecasts undertaken, that the profits and cashflows generated from the asset are less than the carrying value of the asset.
Page 26
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
3.Judgements in applying accounting policies (continued)
When the outcome on a contract can be estimated reliably and it is probable that the contract will be profitable, contract revenue and costs are recognised over the period of the contract by reference to the stage of completion based on actual costs incurred to the end of the accounting period compared to forecasted costs to determine the appropriate amount to be recognised in a given period. When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. In determining the stage of completion the Group has appropriate systems for cost estimating, forecasting and revenue and costs reporting. The system also requires consistent judgement (forecasting) of the final outcome of the contract. Estimates are an inherent part of this assessment and the actual future outcome may deviate from the estimated outcome; however, historical experience has shown that estimates are, on the whole, sufficiently reliable. Judgement is required over the amount of deferred tax asset the Group should hold. The Directors estimate based on forecasts undertaken, the extent to which they believe the business will generate taxable profits in the coming years, and this estimation determines the carrying value of deferred tax in the balance sheet. Further details are shown in note 22.
Analysis of turnover by country of destination:
Page 27
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 28
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 29
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
10.Taxation (continued)
There were no factors that may affect future tax charges.
Page 30
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 31
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
12.Intangible assets (continued)
Page 32
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 33
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 34
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 35
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Bank loans are secured against the assets of the Group.
Other loans amounts owed to group management are unsecured, and with an interest rate of 10%.
Page 36
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 37
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Foreign exchange reserve
Page 38
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
24.Reserves (continued)
Profit and loss account
The Company has entered into an unlimited cross-party bank guarantee between itself and certain fellow subsidiary companies. The resultant guarantee of the Company amounts to £1.8m (2024: £1.4m) at the balance sheet date and is secured against the assets of the Group.
The Group operates defined contribution schemes. During the year, the Group made contributions to defined contribution schemes of £0.4m (2024: £0.5m). There were amounts outstanding to defined contribution schemes at the balance sheet date of £36,000 (2024: £62,000).
Page 39
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TTG GLOBAL SOLUTIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The following loans advanced to Directors of the Company existed - are unsecured with an interest rate of 5% and are repayable on demand. Amounts outstanding during the year are as follows:
P Burridge - Opening balance - £42,150, accrued interest in year - £2,007, repayments in year £5,187 year-end balance - £38,970.
The Directors consider that there is no ultimate controlling party.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent Company for the year was £Nil (2024 - £0.1m).
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