North Tower Consulting Limited

	Page
Strategic Report	1—3
Directors' Report	4
Independent Auditor's Report	5—7
Profit and Loss Account	8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Statement of Cash Flows	13
Notes to the Financial Statements	14—20

The directors present their strategic report for the year ended 30 April 2026.

Principal Activity

The company's principal activity continues to be that of delivering high-assurance consulting and engineering-led managed services across cyber security and digital transformation.

Review of the Business

Business Model and Strategy

North Tower Consulting Limited continues to focus on delivering high-quality, outcome-led services to clients through a predominantly managed services model. The company’s delivery approach is built around quality, resilience, assurance and responsiveness, with a focus on client outcomes rather than simply resource volume.

The company’s core service offerings:

Secure Digital

Delivers bespoke systems engineering, software development and infrastructure services, supporting the design, build and operation of complex digital platforms.
Multi-disciplinary engineering capability enables rapid problem solving and seamless delivery across complex technical environments and system architectures.
Drives delivery of robust, scalable solutions that integrate effectively within existing systems and operational constraints.

Cyber Resilience & Assurance

Provides end-to-end cyber security and information assurance services, including security engineering, risk management, accreditation and lifecycle assurance.
Strong track record, with the ability to embed deep security expertise directly within complex programmes.
Enhances system resilience and ensures security is effectively integrated into delivery and ongoing operations.

Delivery & Transformation

Provides business consulting and delivery support services, including business analysis, change management, agile delivery and programme governance.
Embedded consulting model aligned to delivery, combining strategic advisory with hands-on execution across programmes and portfolios.
Improves programme outcomes through structured delivery, informed decision-making and alignment between business objectives and technical execution.

During the year, the company continued to invest in its permanent employee base, leadership structure, operational capability, and client delivery model.

Review of the business

Performance during the year was driven by continued growth across key client accounts, increased demand for cyber security services, and the expansion of the company's engineering-led managed service offerings.

Due to the continued growth in services, the company delivered a strong financial performance during the year ended 30 April 2026. Administrative costs increased during the year, reflecting continued investment in the business, including additional Executive Committee resources, marketing, recruitment, professional fees, staff training, employee benefits, office move costs and welfare-related expenditure.

The company relocated its office during the year to provide a more inclusive and scalable working environment while reducing long-term occupancy costs.

...CONTINUED

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North Tower Consulting Limited

Strategic Report (continued)

For The Year Ended 30 April 2026

Review of the Business - continued

Key performance indicators

The directors consider the following financial KPIs to be relevant in monitoring the development, performance and position of the business:

KPI	2026	2025	Commentary
Turnover	£16,169m	£13,994m	16% growth
Gross Profit	£7,478m	£5,453m	43% growth
Gross Profit Margin	46.2%	38.8%	Improved margin performance
Profit before taxation	£4,916m	£3,284m	49% growth

People and capability

The company continued to invest in attracting, developing and retaining high-calibre talent, recognising that its people are fundamental to delivering successful client outcomes. During the year, investment was made in apprenticeships, professional qualifications, leadership development, employee wellbeing programmes and career progression pathways.

The company remains committed to creating an inclusive and supportive working environment where employees can develop their skills and careers. Continued focus on employee engagement, professional development and technical excellence supports the company's ability to meet client needs while maintaining a strong pipeline of future talent.

As a people-led business, ongoing investment in employee wellbeing, apprenticeships and professional accreditation remains central to the company's long-term growth and success.

Corporate social responsibility and community impact

The company remains actively committed to Corporate Social Responsibility and continues to consider the impact of its activities on employees, clients, communities and the wider environment. The company’s existing CSR approach includes support for charities, schools, STEM activities, veterans’ organisations, sustainability initiatives, employee volunteering and social value activities.

The company’s CSR activity is aligned with its values and includes environmental initiatives, community engagement, workplace wellbeing, support for apprenticeships and education, and charitable involvement.

During the year, the company also continued to invest in events, community engagement and external profile-building activities, including expenditure on industry events, expositions and CSR-related activity. Notable achievements during the year included:

• Growth in apprenticeship numbers

• Armed Forces Covenant achievements

• STEM outreach activities

• Community investment initiatives.

Principal risks and uncertainties

Client and contract concentration risk – The company’s revenue is currently generated from a focused number of core contracts and client areas. The directors manage this risk through maintaining strong client relationships, delivering high-quality services, and pursuing future pipeline opportunities.

People and recruitment risk – The company operates in a specialist market where access to skilled, security-cleared and experienced personnel is critical. The directors manage this through recruitment partnerships, investment in apprenticeships, employee benefits and staff development.

Future developments

The directors remain focused on sustainable growth, strengthening the company’s delivery capability, expanding its employee base, and continuing to develop its position as a trusted partner to current clients. The company’s strategic growth plans include contract extensions, public-sector and Defence opportunities, and strategic partnerships.

The company has established strategic objectives for the period April 2026 to March 2029, including achieving £17m revenue with 30% gross profit margin in FY26/27, £19m revenue with 30% gross profit margin in FY27/28, continuing to manage operating expenses within budget, increasing employee participation in sustainability and community initiatives, developing apprenticeships, and building capability in new service offerings.

Strategic outlook

The company operates in markets where demand for secure digital transformation, cyber resilience and complex delivery services continues to grow. Supported by a strong client base, enduring customer relationships and a proven delivery model, the directors believe the business is well positioned to capitalise on future opportunities. Continued investment in employees, service capability and strategic partnerships is expected to support sustainable growth and long-term value creation for all stakeholders.

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North Tower Consulting Limited

Strategic Report (continued)

For The Year Ended 30 April 2026

Section 172(1) Statement

In making decisions, the directors consider the likely consequences for the long-term success of the company, the interests of employees, the need to foster business relationships with clients and suppliers, the impact of the company’s operations on the community and environment, and the importance of maintaining high standards of business conduct. The company’s investment in its workforce, office environment, training, CSR activity, client delivery model and strategic planning demonstrates the directors’ focus on sustainable growth and long-term value creation.

On behalf of the board

Nicholas Pritchard

Director

29 July 2026

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North Tower Consulting Limited

Company No. 11961662

Directors' Report For The Year Ended 30 April 2026

Directors' Report

The directors present their report and the financial statements for the year ended 30 April 2026.

Directors

The directors who held office during the year were as follows:

Nicholas Pritchard

Paul Spencer-White

Gemma Allen

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Byrd + Link Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Nicholas Pritchard

Director

29 July 2026

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Independent Auditor's Report

to the Members of

North Tower Consulting Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of North Tower Consulting Limited for the year ended 30 April 2026 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 April 2026 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Independent Auditor's Report (continued)

to the Members of

North Tower Consulting Limited

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the strategic and the directors’ report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

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

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of Directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

North Tower Consulting Limited

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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 company and its financial operations we have considered the initial risks of non-compliance with the UK regulators, predominantly HM Revenue and Customs and Companies Act 2006. We have assessed the impact any breaches in such laws and regulations and considered whether any such findings would have a material impact on these financial statements. We have considered the risk of those charged with management overriding internal controls and the opportunity for financial manipulation. We have considered the effect of any accounting estimates included within these accounts and the effect this may have on our audit opinion.

Our audit procedures together with our assessment of risks identified at planning were transparent to the company and we have communicated with the client throughout the audit as well as the audit engagement team, and this includes such matters as fraud and irregularity.

The above procedures do however have their limitations as we can only work on a sample of financial transactions. Ultimately it is the responsibility of those charged with management for the prevention and detection of fraud and other irregularities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website 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 a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Russel Byrd FCA (Senior Statutory Auditor)

for and on behalf of Byrd + Link Audit Limited , Statutory Auditor

29 July 2026

Byrd + Link Audit Limited

Honeybourne Place

Jessop Avenue

Cheltenham

Gloucestershire

GL50 3SH

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North Tower Consulting Limited

Profit and Loss Account

For The Year Ended 30 April 2026

Profit and Loss Account

		2026	2025
	Notes	£	£
TURNOVER	3	16,169,449	13,993,663
Cost of sales		(8,691,674 )	(8,540,841 )

GROSS PROFIT		7,477,775	5,452,822

Administrative expenses		(2,774,088 )	(2,333,264 )
Other operating income		500	500

OPERATING PROFIT	5	4,704,187	3,120,058
Loss on disposal of fixed assets		(11,781 )	-
Other interest receivable and similar income	10	223,866	164,044
Interest payable and similar charges	11	-	(189 )

PROFIT BEFORE TAXATION		4,916,272	3,283,913
Tax on Profit	12	(1,224,746 )	(829,692 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		3,691,526	2,454,221

The notes on pages 13 to 20 form part of these financial statements.

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North Tower Consulting Limited

Statement of Comprehensive Income

For The Year Ended 30 April 2026

Statement of Comprehensive Income

	2026	2025
	£	£
PROFIT FOR THE FINANCIAL YEAR	3,691,526	2,454,221
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	3,691,526	2,454,221

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North Tower Consulting Limited

Balance Sheet

As At 30 April 2026

Balance Sheet

Registered number: 11961662

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		348,460		271,071

			348,460		271,071
CURRENT ASSETS
Debtors	14	1,741,296		4,244,026
Cash at bank and in hand		7,216,695		6,319,118

		8,957,991		10,563,144
Creditors: Amounts Falling Due Within One Year	15	(8,726,725 )		(6,113,190 )

NET CURRENT ASSETS (LIABILITIES)			231,266		4,449,954

TOTAL ASSETS LESS CURRENT LIABILITIES			579,726		4,721,025

PROVISIONS FOR LIABILITIES
Deferred Taxation	16		(44,842 )		(67,767 )

NET ASSETS			534,884		4,653,258

CAPITAL AND RESERVES
Called up share capital	18		4		4
Profit and Loss Account			534,880		4,653,254

SHAREHOLDERS' FUNDS			534,884		4,653,258

On behalf of the board

Nicholas Pritchard

Director

29 July 2026

The notes on pages 13 to 20 form part of these financial statements.

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North Tower Consulting Limited

Statement of Changes in Equity

For The Year Ended 30 April 2026

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 May 2024	5	4,500,679	4,500,684
Profit for the year and total comprehensive income	-	2,454,221	2,454,221

Dividends paid	-	(2,301,646)	(2,301,646)
Share capital reduction	(1 )	-	(1)

As at 30 April 2025 and 1 May 2025	4	4,653,254	4,653,258


Profit for the year and total comprehensive income	-	3,691,526	3,691,526

Dividends paid	-	(7,809,900)	(7,809,900)

As at 30 April 2026	4	534,880	534,884

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North Tower Consulting Limited

Statement of Cash Flows

For The Year Ended 30 April 2026

Statement of Cash Flows

		2026	2025
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	9,788,891	3,838,282
Interest paid		-	(190 )
Tax paid		(1,111,878 )	(644,907 )

Net cash generated from operating activities		8,677,013	3,193,185

Cash flows from investing activities
Purchase of tangible assets		(275,974 )	(15,753 )
Proceeds from disposal of tangible assets		82,181	-
Grants received		500	500
Interest received		223,866	164,044

Net cash generated from investing activities		30,573	148,791

Cash flows from financing activities
Purchase/redemption of own shares		-	(1 )
Equity dividends paid		(7,809,900 )	(2,301,646 )
Amount withdrawn by directors		(109)	(68)

Net cash used in financing activities		(7,810,009 )	(2,301,715 )



Increase in cash and cash equivalents		897,577	1,040,261
Cash and cash equivalents at beginning of year	2	6,319,118	5,278,857

Cash and cash equivalents at end of year	2	7,216,695	6,319,118

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North Tower Consulting Limited

Notes to the Statement of Cash Flows

For The Year Ended 30 April 2026

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2026	2025
	£	£
Profit for the financial year	3,691,526	2,454,221
Adjustments for:
Tax on profit	1,224,746	829,692
Interest expense	-	189
Interest income	(223,866 )	(164,043 )
Depreciation of tangible assets	104,623	100,518
Loss on disposal of tangible assets	11,781	-
Grant income	(500)	(500)
Movements in working capital:
Decrease/(increase) in trade and other debtors	2,502,730	(1,426,986 )
Increase in trade and other creditors	2,477,851	2,045,191

Net cash generated from operations	9,788,891	3,838,282

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2026	2025
	£	£
Cash at bank and in hand	7,216,695	6,319,118

3. Analysis of changes in net funds

	As at 1 May 2025	Cash flows	As at 30 April 2026
	£	£	£
Cash at bank and in hand	6,319,118	897,577	7,216,695

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North Tower Consulting Limited

Notes to the Financial Statements

For The Year Ended 30 April 2026

Notes to the Financial Statements

1. General Information

North Tower Consulting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11961662 . The registered office is Office 4 Sunningend Business Centre, 22 Lansdown Industrial Estate, Cheltenham, Gloucestershire, GL51 8PL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Over the term of the lease
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33.33% straight line

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.6. Financial Instruments

Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences

a residual interest in the assets of the Company after deducting all of its liabilities and is recorded at the proceeds received, net of direct issue costs, with an amount equal to the nominal amount of the shares issued included in the share capital account and the balance recorded in the share premium account.

Loans receivable are carried at amortised cost using the effective interest rate method less any allowance for estimated impairments. A provision is established for impairments when there is objective evidence that the Company will not be able to collect all amounts due under the original terms of the loan. Interest income, together with losses when the loans are impaired are recognised on an effective interest basis in the profit and loss account.

Current asset financial investments are recognised at fair value plus directly related incremental transaction costs and are subsequently carried at fair value on the balance sheet. Changes in the fair value of investments classified as available-for-sale are recognised directly in equity, until the investment is disposed of or is determined to

be impaired. At this time, the cumulative gain or loss previously recognised in equity is included in net profit or loss for the period. Investment income on investments classified as available-for-sale is recognised in the profit and loss account as it accrues.

Borrowings, which include interest-bearing loans and overdrafts are recorded at their initial fair value which normally reflects the proceeds received, net of direct issue costs less any repayments. Subsequently, these are stated at amortised cost, using the effective interest rate method. Any difference between proceeds and the redemption value is recognised over the term of the borrowing in the profit and loss account using the effective interest rate method.

...CONTINUED

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North Tower Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

2.6. Financial Instruments - continued

Derivative financial instruments (‘derivatives’) are recorded at fair value, and where the fair value of a derivative is positive, it is carried as a derivative asset and where negative, as a liability. Assets and liabilities on different transactions are only netted if the transactions are with the same counterparty, a legal right of set off exists and the cash flows are intended to be settled on a net basis.

Gains and losses arising from changes in fair value are included in the profit and loss account in the period they arise.

Where derivatives are embedded in other financial instruments that are closely related to those instruments, no adjustment is made with respect to such derivative clauses. Otherwise, the derivative is recorded separately at fair value on the balance sheet.

The fair values of financial instruments measured at fair value that are quoted in active markets are based on bid prices for assets held and offer prices for issued liabilities. When independent prices are not available, fair values are determined by using valuation

techniques which are consistent with techniques commonly used by the relevant market. The techniques use observable market data.

2.7. Interest Receivable

Interest receivable on investments and payable on borrowings is accounted for respectively as income and expenditure on the basis of the effective interest rate for the relevant financial

instrument rather than the cash flows fixed or determined by the contract.

2.8. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2026	2025
	£	£
United Kingdom	16,169,449	13,993,663

	16,169,449	13,993,663

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North Tower Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

4. Other Operating Income

	2026	2025
	£	£
Grant income	500	500

	500	500

5. Operating Profit

The operating profit is stated after charging:

	2026	2025
	£	£
Depreciation of tangible fixed assets	104,623	100,518

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2026	2025
	£	£
Audit Services
Audit of the company's financial statements	10,000	10,225

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2026	2025
	£	£
Wages and salaries	1,600,790	1,345,244
Social security costs	15,258	15,905
Other pension costs	275,160	288,579

	1,891,208	1,649,728

8. Average Number of Employees

Average number of employees, including directors, during the year was: 28 (2025: 26)

9. Directors' remuneration

	2026	2025
	£	£
Emoluments	130,693	139,836
Company contributions to money purchase pension schemes	220,629	252,346

	351,322	392,182

The number of directors to whom retirement benefits were accruing was as follows:

	2026		2025
Money purchase pension schemes	3		3

Information regarding the highest paid director was as follows:

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North Tower Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

	2026	2025
	£	£
Emoluments	9,805	9,692
Company contributions to money purchase pension schemes	154,100	185,300

	163,905	194,992

10. Interest Receivable and Similar Income

	2026	2025
	£	£
Bank interest receivable	223,866	164,044

11. Interest Payable and Similar Charges

	2026	2025
	£	£
Other finance charges	-	189

12. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2026	2025
	2026	2025	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	1,247,671	854,182
Deferred Tax
Deferred taxation			(22,925 )	(24,490 )


Total tax charge for the period			1,224,746	829,692

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

	2026	2025
	£	£
Profit before tax	4,916,272	3,283,913

Tax on profit at 25% (UK standard rate)	1,247,671	854,182
Short term timing differences	(22,925 )	(24,490 )

Total tax charge for the period	1,224,746	829,692

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North Tower Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

13. Tangible Assets

	Land & Property
	Leasehold	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 May 2025	-	422,151	3,234	81,432	506,817
Additions	7,682	179,888	73,503	14,901	275,974
Disposals	-	(193,608 )	-	-	(193,608 )

As at 30 April 2026	7,682	408,431	76,737	96,333	589,183

Depreciation
As at 1 May 2025	-	175,223	1,505	59,018	235,746
Provided during the period	1,024	79,732	8,124	15,743	104,623
Disposals	-	(99,646 )	-	-	(99,646 )

As at 30 April 2026	1,024	155,309	9,629	74,761	240,723

Net Book Value
As at 30 April 2026	6,658	253,122	67,108	21,572	348,460

As at 1 May 2025	-	246,928	1,729	22,414	271,071

14. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	1,708,887	1,625,308
Prepayments and accrued income	32,409	140,322
Other debtors	-	48,947
Amounts owed by associates	-	2,429,449

	1,741,296	4,244,026

15. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	904,016	866,765
Corporation tax	649,607	513,814
Other taxes and social security	58,755	30,960
VAT	143,079	178,975
Other creditors	17,109	8,705
Accruals and deferred income	471,422	524,673
Directors' loan accounts	44	153
Amounts owed to associates (Current liabilities - creditors < 1 year)	6,482,693	3,989,145

	8,726,725	6,113,190

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North Tower Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

16. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Other timing differences	44,842	67,767

17. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 May 2025	67,767	67,767
Deferred taxation	(22,925 )	(22,925 )

Balance at 30 April 2026	44,842	44,842

18. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
1 Ordinary Shares of £ 1 each	1	1
1 Ordinary A shares of £ 1 each	1	1
1 Ordinary B shares of £ 1 each	1	1
1 Ordinary C shares of £ 1 each	1	1

	4	4

19. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	224,320	295,126
Later than one year and not later than five years	729,040	224,320

	953,360	519,446

20. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £275,160 (2025: £288,579).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

21. Dividends

	2026	2025
	£	£
On equity shares:
Interim dividend paid	7,809,900	2,301,646

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North Tower Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

22. Related Party Disclosures

During the year, dividends were paid to South Tower Lettings Limited of £7,500,000 (2025 - £2,000,000). This is a company owned by N Pritchard. At the end of the year an amount of £5,982,693 (2025 - £3,489,145) was owed to South Tower Lettings Limited. This amount is shown within creditors due within one year. There are no repayment terms for this loan.

Also included with creditors due within one year, is an amount of £500,000 (2025 - £500,000) to East Tower Properties Limited. The company is owned by N Pritchard. There are no repayment terms for this loan.

Included within amounts owed to associates is £Nil9 (2025 - £2,429,449) to 3house Limited, of which N Pritchard is a director of. Loan interest is charged from North Tower Consulting Limited to 3house Limited as per the loan agreement in place, in 2025 this was £100,365 (2025 - £162,077). There is a charge on the assets of 3house Ltd in favour of North Tower Consulting Limited.

N Pritchard was owed £153 (2024 - £222) at the year end. Interest is charged on the average of the opening and closing balances at the rate published by the Bank of England from time to time. The maximum amount outstanding and owing to the company during the year was £283,456.

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