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Registered number:
FOR THE YEAR ENDED 31 MAY 2026
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TITAN INTERIOR SOLUTIONS LIMITED
COMPANY INFORMATION
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TITAN INTERIOR SOLUTIONS LIMITED
CONTENTS
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TITAN INTERIOR SOLUTIONS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2026
The directors present their strategic report on the company for the year ended 31st May 2026.
The principal activity of the company continues to be that of a specialist interior fit-out subcontactor, undertaking various trades including suspended ceilings, dry-lining and demountable partitions.
The Building Safety Act 2022 (BSA) has had a mixed impact on construction industry growth during the period.
While its emphasis on higher standards, resident safety, and clearer accountability has enhanced quality and compliance, the introduction of new regulatory gateways—particularly for higher-risk residential buildings—has slowed the commencement of projects.
Many developers and contractors have continued to experience extended pre-construction phases due to delays in obtaining Building Safety Regulator approvals. This increased administrative workloads and compliance costs, particularly affecting high-rise residential projects.
This has resulted in a year on year reduction in revenue however our core strategy of operational improvements have increased gross profit % in the year which has resulted in Gross Profit of £7.9m being slightly better than prior year (2025, £7.1m)
The Board is satisfied with the results achieved under these challenging conditions.
The company is well placed to benefit from anticipated improvements in the BSA approval process and the directors are confident it will continue to secure contracts and trade profitably however the UK and Global economy have been volatile due to the war in the middle east which has resulted in rising oil and gas prices with some material cost increases already announced.
These factors means our core strategy of operational improvement, enhanced client satisfaction, and reduced risk exposure will be even more important to continue to improve projects margins going forward
The company continues to invest in its people and processes and remains on track to deliver its operational efficiency programme, which will provide sustained benefits.
With secured orders and a strong pipeline, the company is on course to provide a consistent level of profitability and positive cash generation.
The UK construction market remains highly competitive, and inflationary pressures or labour shortages may arise. These risks are mitigated through selective contract tendering, rigorous monitoring of contract performance, and disciplined working capital management.
The company’s principal credit risk arises from customer receivables. This is managed through credit referencing, selective tendering, and robust collection procedures. Cash flow and debtor balances are monitored daily, supported by rolling forecasts.
The company is not materially exposed to bad debts. Its selective tendering approach reduces credit risk, a factor that has contributed to failures across the wider construction sector.
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TITAN INTERIOR SOLUTIONS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
The company monitors a range of financial and operational KPIs to support delivery of strategic objectives, including:
•Tender margin versus final account margin on a contract by contract basis
• Project status against original programme timetable • Overdue final account debts • Retention collection • Average frequency rate for health and safety data • Enquiry levels • Work in hand • Client and Contract selectivity matrix • Tender conversion monitoring – by sector and client
This report was approved by the board on 27 August 2026 and signed on its behalf.
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TITAN INTERIOR SOLUTIONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2026
The directors present their report and the financial statements for the year ended 31 May 2026.
The directors who served during the year were:
The profit for the year, after taxation, amounted to £2,032,785 (2025 - £1,491,384).
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
Future developments have been set out in the strategic report.
The success of our business is dependent on the support of all our stakeholders. Building positive relationships with stakeholders that share our values is important to us, and working together towards shared goals assists us in delivering long-term sustainable success.
Shareholders
We have an open dialogue with our shareholders through monthly Board meeting and monthly management meeting, shareholders play a key role in our decision-making process, financial performance, and strategic outlook.
Employees
The safety of our employees and subcontractors is our foremost concern. We have processes in place to ensure the safety of our working practices and sites, we promote good practice through various incentives, and we review adherence through a site audit process. Health and Safety reporting is reviewed at all levels of the Group up to and including at Board level.
Business unit managers attend monthly management meeting where we have an open dialogue to discuss the business financial performance, supplier and customer relationships and operational performance. We also run quarterly site management forums, which allows an opportunity for our site based employees to have an open dialogue with business management and play an active role in decision making.
We have an open relationship with our employees and promote a two way dialogue to ensure continuous improvement of both the business and our employees. We promote the development of our employees through our “Planning for the Future” programme to upskill our staff to help make them, and us, more competitive. Employees needing help have access to support through our EAP as well as our trained Metal Health First Aiders positioned around the business.
Customers
Our ambition is to deliver best-in-class product and services to our customers. We continue to build strong and lasting relationships with our key customers and invest considerable time with them to understand their needs and listen to how we can improve our service. We attend regular site meeting with our customers to discuss on-going project matters and agree on key project related decisions.
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TITAN INTERIOR SOLUTIONS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
Suppliers
We continue to build strong working relationships with our suppliers to develop long lasting partnerships. We run a central procurement team and one of their key performance targets is to continue to develop and support supplier relationships, this is done through periodic reviews with key accounts and more informally with open dialogue on a day-to-day basis. The Board recognises that relationship with suppliers is important to the Group’s long-term success and are briefed in the monthly management meeting by the Procurement team on supplier relationships and any open issues.
Communities
We engage with the local communities on several fronts and aim to give something back to the local communities we work in. We partner with a local charity each year to help raise awareness and we organise and fund several fund-raising events throughout the year which are keenly supported by employees. We also run an apprenticeship scheme committed to developing local talent into skilled tradespeople, professionals and managers and have formed a strategic partnership with Sheffield College
The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom is considered at a group level and disclosed in Horbury Group Limited.
The auditors, Shorts Chartered Accountants & Statutory Auditor, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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TITAN INTERIOR SOLUTIONS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MAY 2026
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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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TITAN INTERIOR SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TITAN INTERIOR SOLUTIONS LIMITED
We have audited the financial statements of Titan Interior Solutions Limited (the 'Company') for the year ended 31 May 2026, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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TITAN INTERIOR SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TITAN INTERIOR SOLUTIONS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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TITAN INTERIOR SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TITAN INTERIOR SOLUTIONS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these 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:
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:
∙the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙through discussions with the directors and other management and from our commercial knowledge and experience of the sectors that the Company operates in, we identified the laws and regulations applicable to the Company; and
∙focusing on the specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, we assessed the extent of compliance with those laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.
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;
∙considered 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.
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TITAN INTERIOR SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TITAN INTERIOR SOLUTIONS LIMITED (CONTINUED)
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;
∙enquiring of management as to actual and potential litigation and claims;
∙considering relationships with HMRC, relevant regulators and the Company’s legal advisors;
∙reviewing minutes of meeting of management and directors;
∙reviewing incident log to identify any breaches and problems; and
∙reviewing the company's risk register to identify key risk areas.
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 for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Cedar House
63 Napier Street
South Yorkshire
S11 8HA
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TITAN INTERIOR SOLUTIONS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MAY 2026
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TITAN INTERIOR SOLUTIONS LIMITED
REGISTERED NUMBER: 02693294
BALANCE SHEET
AS AT 31 MAY 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 26 form part of these financial statements.
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
Titan Interior Solutions Limited is a private company limited by shares, incorporated in England and Wales (registered number: 02693294). Its registered office is South Grove House, South Grove, Rotherham, South Yorkshire S60 2AF. The principal activity of the company throughout the year continued to be that of the provision of specialist interior fit-out subcontractor.
2.Accounting policies
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
∙Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;
∙Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
∙Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Horbury Group Limited. These consolidated financial statements are available from its registered office.
The directors have performed an assessment of going concern at a group level including a review of financing, forecasts, covenant compliance, and having considered these factors, they are of the view that there is a reasonable expectation that the Group has adequate resources to continue in operational existence for a period of at least twelve months following the reporting date.
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
2.Accounting policies (continued)
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
2.Accounting policies (continued)
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Financial liabilities are classified in accordance with FRS 102 Section 11 and are measured either at amortised cost or at fair value through profit or loss, as appropriate.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any cahnges in the fair value of the hedged asset or liability that are attributable to the hedged risk.
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
12.Taxation (continued)
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
Page 24
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
Page 25
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TITAN INTERIOR SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
The Company's bankers hold an unlimited Composite Company Limited Multilateral Guarantee and debenture between the following group companies: Horbury Group Limited, Horbury Joinery Limited, Tubular Scaffolding Services Limited, Titan Interior Solutions Limited, T.I.S. Services Limited, South Grove House Limited, Millstone Building Limited, Magna Plant and Tool Hire Limited, Horbury Support Services Limited (formerly known as G.B.W. (Tool Hire) Limited), Horbury Property Services Limited, Titan Flooring Limited and Environ Safety Management Limited.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £132,752 (2025 - £137,791). There was £30,027 (2025 - £32,736) payable to the fund at the Balance Sheet date.
The registered office of Horbury Group Limited is South Grove House, South Grove, Rotherham, South Yorkshire, S60 2AF.
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