Registration number: 07400403

Totus Engineering Limited
(Registration number: 07400403)

Contents

Company Information	1
Strategic Report	2 to 3
Directors' Report	4
Statement of Directors' Responsibilities	5
Independent Auditor's Report	6 to 9
Profit and Loss Account	10
Statement of Comprehensive Income	10
Balance Sheet	11
Statement of Changes in Equity	12
Notes to the Financial Statements	13 to 24

Totus Engineering Limited
(Registration number: 07400403)

Company Information

Directors

R Bell J G Kent A Martin T M Read P D Rock

Company secretary

T M Read

Registered office

Suite 5 Splatford Barton Kennford Nr Exeter Devon EX6 7XY

Auditors

Thompson Jenner LLP 28 Alexandra Terrace Exmouth Devon EX8 1BD

Totus Engineering Limited
(Registration number: 07400403)

Strategic Report for the Year Ended 31 December 2025

The directors present their strategic report for the year ended 31 December 2025.

Principal activity

The principal activity of the company is mechanical and electrical engineering.

Fair review of the business

During the year, the company achieved a gross profit of £5,957,701 (2024: £5,396,380). Deductions for overheads and interest payable have resulted in a profit before tax of £920,004 (2024: £915,480).

The directors are satisfied with the performance during the year and remain confident about the ongoing development of the company.

The directors monitor key performance indicators which are focused on contract management, effectiveness and margin.

Monthly monitoring of contract performance at formal review meetings attended by directors, operational and commercial staff ensures that controls are in place to maximise opportunity and mitigate risk.

Principal risks and uncertainties

The principal business risks faced by the company are market competition, fluctuating materials prices and customer payments.

The company continues its commitment to keeping its staff safe by continuously monitoring health and safety standards and ensuring that it continues to be RIDDOR compliant.

The company manages these risks by continuous improvement in staff training and investment in systems and controls. Fluctuating material prices are managed by continual monitoring of price indices and supplier competition. Regional resource shortages are managed by ensuring that our employees are cared for, empowered, challenged and feel valued by the business. Customer payments are managed by strict adherence to payment terms and tenacious pursuit of debts. The company continues to win work in a competitive marketplace and look forward to an upturn in the overall economic environment, feeding through to increased work opportunities. The company has a strong order book and continues to see opportunity and growth through lower-risk government funded, healthcare, education and MOJ and MOD sectors.

The company operates in a fluctuating market, undertaking long-term contracts. The directors manage these risks by close monitoring of contract progress and performance. Management has made further investment in this area during the year with key members of staff joining a bespoke Employee Leadership Programme ‘Elevate’ to promote their standing within the business.

The company continues to monitor material availability. Whilst no major direct implications have been experienced, the directors continue to work closely with the supply chain and their customers to mitigate delays associated with long lead times.

Totus Engineering Limited
(Registration number: 07400403)

Strategic Report for the Year Ended 31 December 2025

The company continues to monitor energy prices and recognises the importance of making a full and lasting commitment to reducing the greenhouse gas emissions from their activities, in support of the wider commitment of the world to limit global temperature increases and the impact on the planet. The company has a clear net zero road map in place and is future net zero standard benchmark certified. The company has engaged with Octopus in 2024 offering electric vehicles to mitigate its impact on the environment and as a benefit to further attract and retain high quality employees. Uptake continues to be positive and the company has now procured its first electric van.

The company continues to see an increase in expenditure within the MOD and MOJ sectors of its marketplace, leading larger and longer projects being secured. Priority continues to be given to employee safety and mental health with all employees having access to an Employee Assistance Programme. Trained mental health first aiders continue to offer support, and flexibility is afforded to employees dealing with both health and associated family responsibilities. This collaborative approach has enabled the company to both meet customer demands whilst supporting employees through these difficult times.

Employee engagement continues to remain positive with summer events and seasonal parties bringing employees and their families together. The company recognises the importance of strong relationships and appreciates the commitment of its loyal workforce. Corporate Social Responsibility continues to be an important factor to demonstrate our values and bring people together. Social value efforts during the year, included employees completing our ‘Wheels and Heels’ challenge with 3 teams running, walking and riding 30 miles, 20 miles and 100 miles respectively to support local charities. Similar events are planned for 2026 and we continue to support local communities.

Approved and authorised by the Board on 29 July 2026 and signed on its behalf by:
 

......................................... T M Read Company secretary and director

Totus Engineering Limited
(Registration number: 07400403)

Directors' Report for the Year Ended 31 December 2025

The directors present their report and the financial statements for the year ended 31 December 2025.

Directors of the company

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

R Bell

J G Kent

A Martin

T M Read - Company secretary and director

P D Rock

Financial instruments

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

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group has sufficient liquid resources to meet the operating needs of the business.

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Research and development

The company undertakes research and development activities identifying innovative solutions.

Directors' liabilities

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Disclosure of information to the auditors

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 company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 29 July 2026 and signed on its behalf by:
 

......................................... T M Read Company secretary and director

Totus Engineering Limited
(Registration number: 07400403)

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 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 and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable United Kingdom 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 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 and in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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.

Totus Engineering Limited
(Registration number: 07400403)

Independent Auditor's Report to the Members of Totus Engineering Limited

Opinion

We have audited the financial statements of Totus Engineering Limited (the 'company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, 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 company's affairs as at 31 December 2025 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor 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.

Other matters
The financial statements of the company for the period ended 31 December 2024 were audited by another auditor who expressed an unmodified opinion on those statements on 30 June 2025.

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 company'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 are 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.

Totus Engineering Limited
(Registration number: 07400403)

Independent Auditor's Report to the Members of Totus Engineering Limited

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.

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 company and its 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, 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], 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 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.

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.

Totus Engineering Limited
(Registration number: 07400403)

Independent Auditor's Report to the Members of Totus Engineering Limited

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 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 engineering sector;

•

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, anti-bribery, employment, environmental, construction, electrical, fire safety 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;

•	reading the minutes of meetings of those charged with governance;

•	enquiring of management as to actual and potential litigation and claims; and

•	reviewing correspondence with HMRC, relevant regulators, and the company’s legal advisors.

Totus Engineering Limited
(Registration number: 07400403)

Independent Auditor's Report to the Members of Totus Engineering Limited

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.

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Simon Lewis FCA (Senior Statutory Auditor)
For and on behalf of Thompson Jenner LLP, Statutory Auditor

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

4 September 2026

Totus Engineering Limited
(Registration number: 07400403)

Profit and Loss Account for the Year Ended 31 December 2025

	Note	2025 £	2024 £
Turnover	3	39,737,009	36,418,635
Cost of sales		(33,779,308)	(31,022,255)
Gross profit		5,957,701	5,396,380
Administrative expenses		(5,136,697)	(4,533,745)
Operating profit	4	821,004	862,635
Other interest receivable and similar income	5	99,000	53,945
Interest payable and similar expenses	6	-	(1,100)
Profit before tax		920,004	915,480
Taxation	10	9,682	(4,409)
Profit for the financial year		929,686	911,071

The above results were derived from continuing operations.

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