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Registrar copy

Registration number: 11869494

Integrated Technical Solutions Group Limited
Annual Report and Consolidated Financial Statements
for the Year Ended 30 September 2025

Integrated Technical Solutions Group Limited

Contents

Company Information | 1
Strategic Report | 2 to 3
Directors' Report | 4 to 5
Statement of Directors' Responsibilities | 6
Independent Auditor's Report | 7 to 10
Consolidated Profit and Loss Account | 11
Consolidated Statement of Comprehensive Income | 12
Consolidated Balance Sheet | 13
Balance Sheet | 14
Consolidated Statement of Changes in Equity | 15
Statement of Changes in Equity | 16
Consolidated Statement of Cash Flows | 17
Statement of Cash Flows | 18
Notes to the Financial Statements | 19 to 34

Integrated Technical Solutions Group Limited

Company Information

Directors | G L Cardinal E C Gee M Hellicar

Company secretary | G L Cardinal K M Cardinal

Registered office | West Farm House Cams Hall Estate Fareham Hampshire PO16 8UT

Auditors | Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors 3 Warners Mill Silks Way Braintree Essex CM7 3GB

Integrated Technical Solutions Group Limited

Strategic Report for the Year Ended 30 September 2025

The Directors present their strategic report for the year ended 30 September 2025.

Principal Activity

Integrated Technical Solutions Group Limited (ITSG) provides planned and reactive maintenance services across mechanical, electrical, public health and fabric disciplines.The business supports a diverse commercial and residential client base, primarily in London and increasingly on a national footing.
Our services include maintenance, project works, asset replacement, and energy management consultancy, supporting clients in achieving operational efficiency and carbon reduction objectives.

Strategic Overview and Responsible Business

The Group continues to operate under its core purpose: “Data Led Maintenance for a Responsibly Led Future.” Our Responsible Business Strategy remains central to how we operate, aligning Environmental, Social and Governance (ESG) priorities with measurable performance outcomes.
The introduction and expansion of our PULSE Power BI platform has enhanced visibility across the business, providing a structured framework to monitor performance across:
• Commercial
• Compliance
• Customer
• Culture
• Continuous Improvement
This ensures stronger governance, accountability, and real-time data-driven decision making.

Financial Performance
For the year ending September 2025, the Group delivered:
• Turnover: £30,243,891 (2024 - £27,361,131)
• Pre-tax profit/(loss): £552,857 loss (2024 - £597,322 profit)
While our profitability has reduced year-on-year this is a direct and deliberate consequence of increased overhead investment, specifically in:
• Expansion of our mobile engineering division
• Development of in-house water treatment capability
• Continued investment in technology platforms, including PULSE and CAFM systems
These investments are strategic in nature, aimed at strengthening long-term capability, increasing self-delivery, and positioning the business for scalable growth. Most importantly underlying trading remains strong and the cost base increase reflects planned future-facing investment rather than operational underperformance.

Operational Progress
During the year, the Group has:
• Expanded national mobile delivery capability across key technical disciplines
• Invested in CAFM system enhancements and service centre capability
• Strengthened data analytics through the PULSE platform
• Continued developing behavioural accountability and management disciplines
These changes have improved operational visibility, service quality, and contract performance across the portfolio.

Integrated Technical Solutions Group Limited

Strategic Report for the Year Ended 30 September 2025

Business Environment and Outlook
The Group operates in a competitive and evolving facilities management market, influenced by hybrid working patterns, changes in commercial real estate demand, and increasing ESG expectations. Despite these dynamics, the outlook for 2026 and beyond remains strong and positive.
Key growth drivers include:
• Increased demand for self-delivery models from clients
• Expansion of mobile engineering services at a national level
• Growth in water treatment and specialist compliance services
• Leveraging technology platforms to drive efficiency and reporting transparency
• Opportunities in residential, mixed-use and student accommodation sectors
The investments made in 2025 are expected to:
• Enhance margins through greater self-delivery
• Improve contract profitability over time
• Enable scalable growth across new and existing clients
The Board anticipates that profitability will strengthen in the medium term as the benefits of these investments are realised.

A lot is happening over the coming months, through our system upgrades and enhanced certification processes. We have already started work on achieving our goals, developing joint emission reductions with our Supply Partners and existing clients.
Our team members are the ambassadors of our ITSG Responsible Business Strategy and are genuinely, and authentically, the driving force behind it.

Carbon and ESG Commitment

The Group remains committed to reducing operational and embodied carbon emissions across both its own operations and client portfolios through a combination of:
• Data-led insights
• Technical innovation
• Supply chain collaboration
We continue to support clients in achieving their sustainability objectives while embedding ESG principles across all areas of the business.

Conclusion

The 2025 financial year represents a period of purposeful investment and strategic positioning. While short-term profitability has been impacted by increased overheads, these costs reflect targeted investment into high-growth areas of the business, including mobile delivery, water treatment, and technology. The business is now:
• Operationally stronger
• More scalable
• Better aligned to market demand
With a robust pipeline and strengthened capabilities, The Group is well positioned to deliver sustainable growth and improved profitability in the years ahead.

Approved by the Board on 19 August 2026 and signed on its behalf by:

.........................................
G L Cardinal
Company secretary and director

Integrated Technical Solutions Group Limited

Directors' Report for the Year Ended 30 September 2025

The Directors present their report and the for the year ended 30 September 2025.

Directors of the Group

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

G L Cardinal - Company secretary and director

E C Gee (appointed 1 October 2024)

M Hellicar (appointed 1 October 2024)

L A Storm (appointed 1 October 2024 and Resigned 25 July 2025)

Financial instruments

Objectives and policies

Protecting customers, staff and supply partners, in their environment, in an efficient, ethical and sustainable manner are the Group’s key objectives. The Group is proud to have had no serious incidents.
The board and senior management team are responsible for developing policies and procedures, supported by the Managers. All employees and supply partners are made fully aware of their responsibilities to operate and maintain operating procedures with safety, health, environment & quality being paramount. Each contract starts with undertaking detailed analysis to build a specific operational risk profile for each built environment.
The Group has a tailored Integrated Management System, independently assessed and accredited to meet the exacting standards of ISO 9001, ISO 14001, ISO 45001, ISO 55001, SAFE contractor and Contractors Health & Safety Assessment Scheme (CHAS).
The Group has designed a bespoke web-enabled operating and delivery model for their clients that creates a system of templated standardised policies and procedures across specific contracts that is built upon our UKAS certified ISO 550001, branding it ‘Platinum Business Focused Maintenance’(PBFM). However regular/recurring service contracts are based around the Building Engineering Services Association industry standard Building and Engineering Services SFG20 prescribed maintenance schedules. The approach also adopts The Building Services Research and Information Association ‘soft landings’ framework.
These systems are reinforced by a central helpdesk for all staff and customers; integrated tablet technology at remote customer locations; regular internal auditing; training programmes; and an online safety, health, environment & quality risk register and energy dashboard for all contracts.

Integrated Technical Solutions Group Limited

Directors' Report for the Year Ended 30 September 2025

Price risk, credit risk, liquidity risk and cash flow risk

Risks
The Group monitors its exposure to risk on an ongoing basis. The Group’s activities do not expose it to any material price risk, cash flow risk or foreign exchange risk. Due to the nature of the business and the assets and liabilities contained within the balance sheet the financial risks the Directors consider relevant to the Group are credit risk and liquidity risk. The Group has not used any financial instruments to change its exposure to these risks.
Credit risk:
Credit risk arises on the Group’s principal financial assets which are cash at bank, trade debtors and amounts recoverable on contracts. The credit risk associated with cash is limited as the Group uses reputable financial institutions for banking requirements. All customers are financially assessed prior to entering into contracts and only customers with appropriate credit history are offered credit terms. The Group has no significant concentration of credit risk, with exposure spread over a number of customers.
Liquidity risk:
The Group is exposed to liquidity risk on its financial liabilities including trade and other creditors. In order to maintain liquidity to ensure funds are available for ongoing operations and future developments the Group has access to banking facilities and loans from related parties.

Disclosure of information to the auditor

Each Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the Group's auditor is aware of that information. The Directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Approved by the Board on 19 August 2026 and signed on its behalf by:

.........................................
G L Cardinal
Company secretary and director

Integrated Technical Solutions Group Limited

Statement of Directors' Responsibilities

The Directors acknowledge their responsibilities 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 the Group 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 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; and

• | 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 Group's and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Integrated Technical Solutions Group Limited

Independent Auditor's Report to the Members of Integrated Technical Solutions Group Limited

Opinion

We have audited the financial statements of Integrated Technical Solutions Group Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, and Notes to the Financial Statements, 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).

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 30 September 2025 and of the Group's 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 auditor 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 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 Director's 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 ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Integrated Technical Solutions Group Limited

Independent Auditor's Report to the Members of Integrated Technical Solutions Group Limited

Opinion on other matter 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and 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 our 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 and the Directors' Report.

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 by the parent, or returns adequate for our audit have not been received from branches not visited by us; or
• | the parent financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of Directors' remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 6, 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 Group's and 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 Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Integrated Technical Solutions Group Limited

Independent Auditor's Report to the Members of Integrated Technical Solutions Group Limited

• | the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• | we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sectors;
• | we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment and health and safety legislation;
• | we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
• | identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

• | making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• | considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• | performed analytical procedures to identify any unusual or unexpected relationships;
• | tested journal entries to identify unusual transactions;
• | assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
• | investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• | agreeing financial statement disclosures to underlying supporting documentation; and
• | enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing
standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

Integrated Technical Solutions Group Limited

Independent Auditor's Report to the Members of Integrated Technical Solutions Group Limited

Use of our report

This report is made solely to the Group’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 Group’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 Group and the Group’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Nicholas Forsyth FCA (Senior Statutory Auditor)
For and on behalf of Lambert Chapman LLP, Statutory Auditor
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

20 August 2026

Integrated Technical Solutions Group Limited

Consolidated Profit and Loss Account for the Year Ended 30 September 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 30,243,891 | 27,361,131
Cost of sales |  | (25,237,367) | (22,095,724)
Gross profit |  | 5,006,524 | 5,265,407
Administrative expenses |  | (5,567,029) | (4,625,055)
Other operating income | 4 | 264,599 | 209,464
Operating (loss)/profit |  | (295,906) | 849,816
Other interest receivable and similar income | 5 | 16,287 | 30,141
Interest payable and similar expenses | 6 | (273,238) | (282,635)
|  | (256,951) | (252,494)
(Loss)/profit before tax |  | (552,857) | 597,322
Tax on (loss)/profit | 10 | 26,675 | (313,466)
(Loss)/profit for the financial year |  | (526,182) | 283,856
Profit/(loss) attributable to: |  |  |
Owners of the Group |  | (526,182) | 283,856

The Group has no recognised gains or losses for the year other than the results above.

Integrated Technical Solutions Group Limited

Consolidated Statement of Comprehensive Income for the Year Ended 30 September 2025

| 2025 £ | 2024 £
(Loss)/profit for the year | (526,182) | 283,856
Total comprehensive income for the year | (526,182) | 283,856
Total comprehensive income attributable to: |  |
Owners of the Group | (526,182) | 283,856

Integrated Technical Solutions Group Limited

(Registration number: 11869494)
Consolidated Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 11 | 2,852,164 | 3,062,140
Tangible assets | 12 | 444,557 | 486,823
|  | 3,296,721 | 3,548,963
Current assets |  |  |
Debtors | 14 | 7,877,946 | 8,142,197
Cash at bank and in hand | 15 | 103,672 | 713,691
|  | 7,981,618 | 8,855,888
Creditors: Amounts falling due within one year | 16 | (8,660,120) | (8,913,778)
Net current liabilities |  | (678,502) | (57,890)
Total assets less current liabilities |  | 2,618,219 | 3,491,073
Provisions for liabilities | 17 | (89,134) | (115,809)
Net assets |  | 2,529,085 | 3,375,264
Capital and reserves |  |  |
Called up share capital | 19 | 113 | 110
Share premium reserve |  | 529,900 | 529,900
Profit and loss account |  | 1,999,072 | 2,845,254
Equity attributable to owners of the Company |  | 2,529,085 | 3,375,264
Total equity |  | 2,529,085 | 3,375,264

Approved and authorised by the Board on 19 August 2026 and signed on its behalf by:

......................................... G L Cardinal Company secretary and director |  |

Integrated Technical Solutions Group Limited

(Registration number: 11869494)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 13 | 6,984,061 | 6,984,061
Current assets |  |  |
Debtors | 14 | 3 | -
Cash at bank and in hand |  | 3,225 | 57,892
|  | 3,228 | 57,892
Creditors: Amounts falling due within one year | 16 | (4,200,262) | (3,925,229)
Net current liabilities |  | (4,197,034) | (3,867,337)
Net assets |  | 2,787,027 | 3,116,724
Capital and reserves |  |  |
Called up share capital | 19 | 113 | 110
Share premium reserve |  | 529,900 | 529,900
Retained earnings |  | 2,257,014 | 2,586,714
Shareholders' funds |  | 2,787,027 | 3,116,724

The company has opted to take the exemption under section 408 of the Companies Act 2006 to omit its profit and loss account. The company made a loss after tax for the financial year of £9,700 (2024 - profit of £428,636).

Approved and authorised by the Board on 19 August 2026 and signed on its behalf by:

......................................... G L Cardinal Company secretary and director |  |

Integrated Technical Solutions Group Limited

Consolidated Statement of Changes in Equity for the Year Ended 30 September 2025
Equity attributable to the Parent Company

| Share capital £ | Share premium £ | Retained earnings £ | Total £ | Total equity £
At 1 October 2024 | 110 | 529,900 | 2,845,254 | 3,375,264 | 3,375,264
Loss for the year | - | - | (526,182) | (526,182) | (526,182)
Dividends | - | - | (320,000) | (320,000) | (320,000)
New share capital subscribed | 3 | - | - | 3 | 3
At 30 September 2025 | 113 | 529,900 | 1,999,072 | 2,529,085 | 2,529,085

| Share capital £ | Share premium £ | Retained earnings £ | Total £ | Total equity £
At 1 October 2023 | 110 | 529,900 | 2,791,948 | 3,321,958 | 3,321,958
Profit for the year | - | - | 283,856 | 283,856 | 283,856
Dividends | - | - | (230,550) | (230,550) | (230,550)
At 30 September 2024 | 110 | 529,900 | 2,845,254 | 3,375,264 | 3,375,264

Integrated Technical Solutions Group Limited

Statement of Changes in Equity for the Year Ended 30 September 2025

| Share capital £ | Share premium £ | Retained earnings £ | Total £
At 1 October 2024 | 110 | 529,900 | 2,586,714 | 3,116,724
Loss for the year | - | - | (9,700) | (9,700)
Dividends | - | - | (320,000) | (320,000)
New share capital subscribed | 3 | - | - | 3
At 30 September 2025 | 113 | 529,900 | 2,257,014 | 2,787,027

| Share capital £ | Share premium £ | Retained earnings £ | Total £
At 1 October 2023 | 110 | 529,900 | 2,500,578 | 3,030,588
Profit for the year | - | - | 428,636 | 428,636
Dividends | - | - | (342,500) | (342,500)
At 30 September 2024 | 110 | 529,900 | 2,586,714 | 3,116,724

Integrated Technical Solutions Group Limited

Consolidated Statement of Cash Flows for the Year Ended 30 September 2025

| 2025 £ | 2024 £
Cash flows from operating activities
(Loss)/profit for the year | (526,182) | 283,856
Adjustments to cash flows from non-cash items |  |
Depreciation and amortisation | 396,750 | 378,815
Finance income | (16,287) | (30,141)
Finance costs | 273,238 | 282,635
Tax expense | (26,675) | 313,466
| 100,844 | 1,228,631
Working capital adjustments |  |
Decrease in trade debtors | 264,251 | 1,273,823
Decrease in trade creditors | (84,419) | (16,906)
Cash generated from operations | 280,676 | 2,485,548
Taxes paid | (345,978) | (191,546)
Net cash flow from operating activities | (65,302) | 2,294,002
Cash flows from investing activities |  |
Interest received | 16,287 | 30,141
Acquisitions of tangible assets | (180,745) | (278,794)
Proceeds from sale of tangible assets | 36,237 | -
Net cash flows from investing activities | (128,221) | (248,653)
Cash flows from financing activities |  |
Interest paid | (273,238) | (282,635)
Proceeds from issue of ordinary shares, net of issue costs | 3 | -
Repayment of bank borrowings | - | (488,777)
Proceeds/(repayments) from/(of) other borrowing | 176,739 | (973,193)
Dividends paid | (320,000) | (230,550)
Net cash flows from financing activities | (416,496) | (1,975,155)
Net (decrease)/increase in cash and cash equivalents | (610,019) | 70,194
Cash and cash equivalents at 1 October | 713,691 | 643,497
Cash and cash equivalents at 30 September | 103,672 | 713,691

Integrated Technical Solutions Group Limited

Statement of Cash Flows for the Year Ended 30 September 2025

| 2025 £ | 2024 £
Cash flows from operating activities
(Loss)/profit for the year | (9,700) | 428,636
Adjustments to cash flows from non-cash items |  |
Dividends received | (338,350) | (711,440)
Finance costs | - | 5,357
| (348,050) | (277,447)
Working capital adjustments |  |
(Increase)/decrease in trade debtors | (3) | 182,500
Increase in trade creditors | 275,033 | 29,168
Net cash flow from operating activities | (73,020) | (65,779)
Cash flows from investing activities |  |
Dividends received from shares in group undertakings | 338,350 | 711,440
Cash flows from financing activities |  |
Interest paid | - | (5,357)
Proceeds from issue of ordinary shares, net of issue costs | 3 | -
Repayment of bank borrowing | - | (488,777)
Dividends paid | (320,000) | (342,500)
Net cash flows from financing activities | (319,997) | (836,634)
Net decrease in cash and cash equivalents | (54,667) | (190,973)
Cash and cash equivalents at 1 October | 57,892 | 248,865
Cash and cash equivalents at 30 September | 3,225 | 57,892

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

1 | General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and principal place of business is West Farm House, Cams Hall Estate, Fareham, Hampshire, PO16 8UT.

These financial statements were authorised for issue by the Board on 19 August 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£), which is the Company's functional currency.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the Group and its subsidiary undertakings drawn up to 30 September 2025.
No Profit and Loss Account is presented for the Group as permitted by section 408 of the Companies Act 2006. The company made a loss after tax for the financial period of £9,700 (2024: profit of £428,636).
A subsidiary is an entity controlled by the Group. Control is achieved where the Group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the Group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Intercompany transactions, balances and unrealised gains on transactions between the Group and its subsidiaries, which are related parties, are eliminated in full.

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Going concern

The financial statements have been prepared on a going concern basis.
The directors have a reasonable expectation that the company has adequate resources to maintain operations for the foreseeable future.
The judgement is a reflection of the company's resources and current trading performance.

Judgements

The preparation of the financial statement requires management to make significant judgements and estimates. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Other than those involving estimations there are no judgements that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.

Key sources of estimation uncertainty

The amounts recoverable on contracts are estimated by evaluating the value of work completed to date and compare this to the amounts invoiced during the period. For incomplete contracts the value of work in progress reflects the partial performance of the contractual obligations. For such contracts work in progress reflects the costs incurred on contracts including profit margin expected by reference to the value of work performed. The director judges this to be an appropriate basis to value work in progress.
Contract accruals are estimated by evaluating partially completed contracts. Expected costs are outlined at the contract inception, and are compared against actual contract costs incurred. The contract accruals represent the value of costs budgeted, but not yet incurred. The director judges this to be an appropriate measurement for contract accruals.
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..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the supply of planned and reactive maintenance to the built environment (Mechanical, Electrical, Public Health, and Fabric services). Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the Group.
Revenue is recognised on an output method based on time elapsed across the term of a contract, service obligations are considered to be met over time and are simultaneously received and consumed by the customer.
Amounts recoverable on long term contracts, which are included in debtors, are stated at expected sales value and recognised by reference to the stage of completion. Calculated costs on maintenance contracts to the balance sheet are shown within creditors and are recognised by reference to the stage of completion of the contract.

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit or loss account except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Group operates and generates taxable income.

Deferred income tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Group. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class | Depreciation rate and method
Fixtures and fittings | 20% Straight Line Method
Office equipment | 20% Straight Line Method

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation rate and method
Goodwill | 5% Straight Line Method

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be reliably measured are held at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Trade Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Financial instruments

All financial instruments are classified as basic financial instruments and held at either amortised cost, or cost less impairment.

3 | Turnover

The analysis of the Group's Turnover for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Contract revenue | 30,243,891 | 27,361,131

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

All turnover is generated in the United Kingdom.

4 | Other operating income

The analysis of the Group's other operating income for the year is as follows:

| 2025 £ | 2024 £
Supplier rebates | 264,599 | 209,464

5 | Other interest receivable and similar income

| 2025 £ | 2024 £
Interest income on bank deposits | 3,570 | 6,555
Other finance income | 12,717 | 23,586
| 16,287 | 30,141

6 | Interest payable and similar expenses

| 2025 £ | 2024 £
Other interest payable | 16,935 | 12,596
Interest expense on other finance liabilities | - | 5,357
Factoring interest | 256,303 | 264,682
| 273,238 | 282,635

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

7 | Staff costs

The aggregate payroll costs (including Directors' remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 9,462,453 | 9,000,513
Social security costs | 1,166,932 | 1,014,322
Pension costs, defined contribution scheme | 405,146 | 315,247
| 11,034,531 | 10,330,082

The average number of persons employed by the Group (including directors) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Directors | 4 | 1
Direct Labour | 144 | 137
Management | 8 | 9
Administration and support | 27 | 26
| 183 | 173

8 | Directors' remuneration

The Directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 467,256 | 12,000
Contributions paid to money purchase schemes | 233,142 | 119,031
| 700,398 | 131,031

During the year the number of Directors who were receiving benefits and share incentives was as follows:

| 2025 No. | 2024 No.
Accruing benefits under money purchase pension scheme | 1 | 1

9 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of these financial statements | 24,795 | 22,000

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

10 | Taxation

Tax charged/(credited) in the consolidated profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | - | 279,843
UK corporation tax adjustment to prior periods | - | 5,446
| - | 285,289
Deferred taxation |  |
Arising from origination and reversal of timing differences | (26,675) | 28,177
Tax (receipt)/expense in the income statement | (26,675) | 313,466

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
(Loss)/profit before tax | (552,857) | 597,322
Corporation tax at standard rate | (138,214) | 149,331
Effect of adjustments for prior periods | 4,691 | 5,446
Effect of capital allowances and depreciation | 21,262 | (25,368)
Effect of other short-term timing differences | 1,685 | (9,554)
Effect of non-deductible expenses | 48,751 | 112,940
Tax decrease arising from group relief | (42,052) | -
Effect of amortisation | 52,494 | 52,494
Movement in deferred tax liability | (26,675) | 28,177
Tax increase from other tax effects | 51,383 | -
Total tax (credit)/charge | (26,675) | 313,466

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Deferred tax

Group

Deferred tax assets and liabilities

2025 | Asset £ | Liability £
Accelerated capital allowances | - | 89,134
| - | 89,134

2024 | Asset £ | Liability £
Accelerated capital allowances | - | 115,809
| - | 115,809

The amount of the net reversal of deferred tax assets and deferred tax liabilities expected to occur during the year beginning after the reporting period is £58,097 (2024 - £41,615).

11 | Intangible assets

Group

| Goodwill £ | Total £
Cost or valuation
At 1 October 2024 | 4,199,510 | 4,199,510
At 30 September 2025 | 4,199,510 | 4,199,510
Amortisation
At 1 October 2024 | 1,137,370 | 1,137,370
Amortisation charge | 209,976 | 209,976
At 30 September 2025 | 1,347,346 | 1,347,346
Carrying amount
At 30 September 2025 | 2,852,164 | 2,852,164
At 30 September 2024 | 3,062,140 | 3,062,140

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

12 | Tangible assets

Group

| Office equipment £ | Fixtures & fittings £ | Total £
Cost or valuation
At 1 October 2024 | 944,756 | 317,201 | 1,261,957
Additions | 94,323 | 86,422 | 180,745
Disposals | (13,523) | (104,101) | (117,624)
At 30 September 2025 | 1,025,556 | 299,522 | 1,325,078
Depreciation
At 1 October 2024 | 538,619 | 236,516 | 775,135
Charge for the year | 135,419 | 51,354 | 186,773
Eliminated on disposal | (11,827) | (69,560) | (81,387)
At 30 September 2025 | 662,211 | 218,310 | 880,521
Carrying amount
At 30 September 2025 | 363,345 | 81,212 | 444,557
At 30 September 2024 | 406,138 | 80,685 | 486,823

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

13 | Investments

Company

| 2025 £ | 2024 £
Investments in subsidiaries | 6,984,061 | 6,984,061

Subsidiaries | £
Cost or valuation
At 1 October 2024 | 6,984,061
Carrying amount
At 30 September 2025 | 6,984,061
At 30 September 2024 | 6,984,061

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking |  | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Platinum Facilities & Maintenance Services Ltd |  | Ordinary | 100% | 100%
Quantec HVAC Solutions Ltd |  | Ordinary | 100% | 100%

Subsidiary undertakings

Subsidiary undertakings
Platinum Facilities & Maintenance Services Ltd The principal activity of Platinum Facilities & Maintenance Services Ltd is maintenance services. The registered office of the company is in the United Kingdom.
Quantec HVAC Solutions Ltd The principal activity of Quantec HVAC Solutions Ltd is maintenance services. The registered office of the company is in the United Kingdom.

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

Audit exemption
Quantec HVAC Solutions Ltd, one of the company’s subsidiaries, has taken advantage of the exemption available under Section 479A of the Companies Act 2006 in respect of the requirement to obtain an audit of its accounts for the year in question.
As a condition of the exemption, the company has guaranteed the year-end liabilities of the relevant subsidiary until they are settled in full.

14 | Debtors

| Group | Company
Current | 2025 £ | 2024 £ | 2025 £ | 2024 £
Trade debtors | 5,046,149 | 5,128,715 | - | -
Amounts recoverable on contracts | 789,147 | 512,317 | - | -
Directors loan | 486,599 | 974,232 | - | -
Other debtors | 943,808 | 1,090,643 | 3 | -
Prepayments | 612,243 | 436,290 | - | -
| 7,877,946 | 8,142,197 | 3 | -

Included in trade debtors are £3,700,455 (2024: £4,148,831) which are under an invoice finance agreement.

15 | Cash and cash equivalents

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Cash at bank | 103,672 | 713,691 | 3,225 | 57,892

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

16 | Creditors

|  | Group | Company
| Note | 2025 £ | 2024 £ | 2025 £ | 2024 £
Due within one year |  |  |  |  |
Loans and borrowings | 20 | 2,284,842 | 2,108,103 | - | -
Trade creditors |  | 3,597,724 | 3,449,658 | - | -
Amounts due to group undertakings | 23 | - | - | 4,192,912 | 3,852,834
Other creditors |  | 48,380 | 137,126 | 100 | 100
Social security and other taxes |  | 708,951 | 816,119 | - | -
Corporation tax | 10 | 22,622 | 368,600 | - | -
Accruals |  | 1,997,601 | 2,034,172 | 7,250 | 72,295
|  | 8,660,120 | 8,913,778 | 4,200,262 | 3,925,229

Loans and borrowings, under creditors due within one year includes £2,284,842 (2024: £2,108,103) on which security has been given by the Group.

A subsidiary of the group has a charge dated 8 May 2019 in respect of the invoice discounting facility. The charge contains both fixed and floating charges.

Company
Creditors include amounts due to group undertakings. Whilst these amounts are due on demand it is unlikely that they will be repaid in full during the coming year.

17 | Provisions for liabilities

Group

| Deferred tax £ | Total £
At 1 October 2024 | 115,809 | 115,809
Increase in existing provisions | (26,675) | (26,675)
At 30 September 2025 | 89,134 | 89,134

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

18 | Pension and other schemes

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Group to the scheme and amounted to £395,553 (2024: £315,248).
Contributions totalling £48,378 (2024: £41,638) were payable to the scheme at the end of the year and are included in creditors.

19 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A Shares of £1 each | 90 | 90 | 90 | 90
Ordinary B Shares of £1 each | 10 | 10 | 10 | 10
Ordinary C Shares of £1 each | 10 | 10 | 10 | 10
Ordinary D Shares of £1 each | 3 | 3 | - | -
| 113 | 113 | 110 | 110

Rights, preferences and restrictions

Ordinary A Shares have the following rights, preferences and restrictions: The shares shall be non-redeemable but shall hold full rights in respect of voting, and shall entitle the holder to full participation in respect of equity and in the event of a winding up of the Company. The shares may be considered by the Directors when considering dividends from time to time.
Ordinary B Shares have the following rights, preferences and restrictions: The shares shall be non-redeemable but shall hold full rights in respect of voting, and shall entitle the holder to full participation in respect of equity and in the event of a winding up of the Company. The shares may be considered by the Directors when considering dividends from time to time.
Ordinary C Shares have the following rights, preferences and restrictions: The shares shall be non-redeemable but shall hold full rights in respect of voting, and shall entitle the holder to participation in respect of equity in the event of a winding up of the Company dependent on the surplus value achieved. The shares may be considered by the Directors when considering dividends from time to time.
Ordinary D Shares have the following rights, preferences and restrictions: The shares shall be non-redeemable with no rights in respect of voting and shall entitle the holder to participation in respect of equity in the event of a winding up of the Company dependent on the surplus value achieved. The shares may be considered by the Directors when considering dividends from time to time.

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

20 | Loans and borrowings

Current loans and borrowings

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Invoice financing | 2,284,842 | 2,108,103 | - | -

21 | Obligations under leases and hire purchase contracts

Group

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 143,648 | 275,398
Later than one year and not later than five years | 97,731 | 374,550
| 241,379 | 649,948

The amount of non-cancellable operating lease payments recognised as an expense during the year was £284,204 (2024 - £301,448).

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

22 | Analysis of changes in net debt

Group

| At 1 October 2024 £ | Financing cash flows £ | At 30 September 2025 £
Cash and cash equivalents |  |  |
Cash at Bank | 713,691 | (610,019) | 103,672
Borrowings |  |  |
Non-current borrowings | (2,108,103) | (176,738) | (2,284,841)
| (1,394,412) | (786,757) | (2,181,169)

Company

| At 1 October 2024 £ | Financing cash flows £ | At 30 September 2025 £
Cash and cash equivalents |  |  |
Cash at Bank | 57,892 | (54,667) | 3,225
| 57,892 | (54,667) | 3,225

Integrated Technical Solutions Group Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

23 | Related party transactions

Group

Key management compensation

| 2025 £ | 2024 £
Salaries and other short term employee benefits | 645,786 | 685,635
Post-employment benefits | 235,692 | 133,685
| 881,478 | 819,320

Transactions with Directors

2025 | At 1 October 2024 £ | Advances to Director £ | Repayments by Director £ | At 30 September 2025 £
G L Cardinal
| 974,231 | 12,368 | (500,000) | 486,599
| 974,231 | 12,368 | (500,000) | 486,599

2024 | At 1 October 2023 £ | Advances to Director £ | Repayments by Director £ | At 30 September 2024 £
G L Cardinal
| 933,254 | 40,977 | - | 974,231
| 933,254 | 40,977 | - | 974,231

The loan is unsecured and interest has been charged in line with the prescribed beneficial loan interest rate.

24 | Parent and ultimate parent undertaking

The ultimate controlling party is G L Cardinal, a director of the Company.