REGISTERED NUMBER: 05520846 (England and Wales)

Report of the Directors and

Unaudited

Consolidated Financial Statements

for the Year Ended 31 March 2026

for

Delphic HSE Solutions Limited

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Statement of Financial Position

4

Company Statement of Financial Position

6

Consolidated Statement of Changes in Equity

8

Company Statement of Changes in Equity

9

Notes to the Consolidated Financial Statements

10

DIRECTORS:

C I Betton

Mrs C E Betton

Mrs E Garner

R M Boughton

Dr P Leinster

Dr J Wakefield

T W Garner

SECRETARY:

Mrs H F Tiffany

REGISTERED OFFICE:

1 Minster Court

Tuscam Way

Camberley

Surrey

GU15 3YY

REGISTERED NUMBER:

05520846 (England and Wales)

ACCOUNTANTS:

Butt Miller

Chartered Accountants

1 Minster Court

Tuscam Way

Camberley

Surrey

GU15 3YY

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

Delphic HSE Solutions Limited is a toxicological consultancy specialising in risk management and safety assessment. The majority of work carried out is driven by legislation and involves safety assessments of consumer, personal care and industrial products as required by legislation and all of our assessment staff are professionally qualified. The company also assesses, implements and advises on management systems designed to ensure workplace safety and that the environmental impacts are controlled and managed effectively. The client base ranges from small start up companies manufacturing personal care products, to major UK retailers and multinational companies engaged in energy and consumer goods production. Delphic HSE Solutions Limited also carries out toxicological assessment work for major international testing laboratories such as SGS, Bureau Veritas, Intertek and TUV.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

C I Betton

Mrs C E Betton

Mrs E Garner

R M Boughton

Dr P Leinster

Dr J Wakefield

T W Garner

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs E Garner - Director

5 October 2026

TURNOVER

5,341,898

4,901,193

Cost of sales

(2,429,680

)

(2,329,717

)

GROSS PROFIT

2,912,218

2,571,476

Administrative expenses

(2,479,515

)

(2,165,584

)

432,703

405,892

Other operating income

107,648

88,834

OPERATING PROFIT

540,351

494,726

Interest receivable and similar income

2,894

4,521

543,245

499,247

Interest payable and similar expenses

(708

)

(7,581

)

PROFIT BEFORE TAXATION

542,537

491,666

Tax on profit

(46,696

)

(98,001

)

PROFIT FOR THE FINANCIAL YEAR

495,841

393,665

Profit attributable to:

Owners of the parent

495,841

393,665

FIXED ASSETS

Tangible assets

7

23,959

31,850

Investments

8

-

-

23,959

31,850

CURRENT ASSETS

Debtors

9

1,628,718

1,153,554

Cash at bank and in hand

333,783

323,603

1,962,501

1,477,157

CREDITORS

Amounts falling due within one year

10

(662,604

)

(592,015

)

NET CURRENT ASSETS

1,299,897

885,142

TOTAL ASSETS LESS CURRENT LIABILITIES

1,323,856

916,992

CREDITORS

Amounts falling due after more than one year

11

-

(1,667

)

PROVISIONS FOR LIABILITIES

(449

)

(602

)

NET ASSETS

1,323,407

914,723

CAPITAL AND RESERVES

Called up share capital

121

121

Share premium

47,680

47,680

Capital redemption reserve

3

3

Retained earnings

1,275,603

866,919

1,323,407

914,723

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2026 and were signed on its behalf by:

Mrs E Garner - Director

FIXED ASSETS

Tangible assets

7

15,411

22,810

Investments

8

189

8,230

15,600

31,040

CURRENT ASSETS

Debtors

9

1,867,908

1,489,197

Cash at bank and in hand

182,298

273,958

2,050,206

1,763,155

CREDITORS

Amounts falling due within one year

10

(1,349,148

)

(1,520,867

)

NET CURRENT ASSETS

701,058

242,288

TOTAL ASSETS LESS CURRENT LIABILITIES

716,658

273,328

CREDITORS

Amounts falling due after more than one year

11

-

(1,667

)

PROVISIONS FOR LIABILITIES

(449

)

(602

)

NET ASSETS

716,209

271,059

CAPITAL AND RESERVES

Called up share capital

121

121

Share premium

47,680

47,680

Capital redemption reserve

3

3

Retained earnings

668,405

223,255

716,209

271,059

Company's profit/(loss) for the financial year

519,778

(198,875

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2026 and were signed on its behalf by:

Mrs E Garner - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 April 2024

121

580,395

47,680

3

628,199

Changes in equity

Dividends

-

(102,978

)

-

-

(102,978

)

Total comprehensive income

-

393,665

-

-

393,665

Foreign currencies translation

exchange differences

on consolidation

-

(4,163

)

-

-

(4,163

)

Balance at 31 March 2025

121

866,919

47,680

3

914,723

Changes in equity

Dividends

-

(74,628

)

-

-

(74,628

)

Total comprehensive income

-

495,841

-

-

495,841

Foreign currencies translation

exchange differences

on consolidation

-

(12,529

)

-

-

(12,529

)

Balance at 31 March 2026

121

1,275,603

47,680

3

1,323,407

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 April 2024

121

525,108

47,680

3

572,912

Changes in equity

Dividends

-

(102,978

)

-

-

(102,978

)

Total comprehensive income

-

(198,875

)

-

-

(198,875

)

Balance at 31 March 2025

121

223,255

47,680

3

271,059

Changes in equity

Dividends

-

(74,628

)

-

-

(74,628

)

Total comprehensive income

-

519,778

-

-

519,778

Balance at 31 March 2026

121

668,405

47,680

3

716,209

1.	STATUTORY INFORMATION

Delphic HSE Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The consolidated accounts incorporate the accounts of all subsidiary undertakings as at the statement of financial position date, prepared in accordance with the group's accounting policies, with the exception of Delphic HSE Pty Ltd, a dormant company registered in Australia, for which no accounts have been prepared or filed, and Delphic HSE Shanghai, a company registered in China that was brought out of dormancy during the period but had no accounting transactions in the period.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

Turnover represent net invoiced sales of services, excluding value added tax.

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value due. Where a contract has only been partially completed at the statement of financial position date, turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Fixtures and fittings

-

25% on cost and 20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33.33% on cost and 20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases

Rentals paid under operating leases are charged to the Consolidated Income Statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The parent company operates a defined contribution pension scheme. Contributions payable to the parent company's pension scheme are charged to the Consolidated Income Statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2025 - 55 ) .

4.	AUDITORS' REMUNERATION

The auditors' remuneration of £5,064 (2025: £2,692) relates to the Hong Kong subsidiary only.

5.	EXCEPTIONAL ITEMS

2026

2025

£

£

Software development

(187,102

)

(142,872

)

The above items are included within the operating profit of the parent company but are deemed to be one-off costs.

6.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the income statement of the parent company is not presented as part of these financial statements.

7.	TANGIBLE FIXED ASSETS

Group

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

42,368

36,475

351

65,227

144,421

Additions

-

-

-

4,522

4,522

Disposals

-

-

-

(3,477

)

(3,477

)

Exchange differences

(258

)

(470

)

-

(1,015

)

(1,743

)

At 31 March 2026

42,110

36,005

351

65,257

143,723

DEPRECIATION

At 1 April 2025

21,968

33,889

350

56,364

112,571

Charge for year

6,783

584

-

4,789

12,156

Eliminated on disposal

-

-

-

(3,477

)

(3,477

)

Exchange differences

(258

)

(447

)

-

(781

)

(1,486

)

At 31 March 2026

28,493

34,026

350

56,895

119,764

NET BOOK VALUE

At 31 March 2026

13,617

1,979

1

8,362

23,959

At 31 March 2025

20,400

2,586

1

8,863

31,850

Company

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

33,917

19,905

351

28,350

82,523

Additions

-

-

-

594

594

Disposals

-

-

-

(3,477

)

(3,477

)

At 31 March 2026

33,917

19,905

351

25,467

79,640

DEPRECIATION

At 1 April 2025

13,517

19,000

350

26,846

59,713

Charge for year

6,783

295

-

915

7,993

Eliminated on disposal

-

-

-

(3,477

)

(3,477

)

At 31 March 2026

20,300

19,295

350

24,284

64,229

NET BOOK VALUE

At 31 March 2026

13,617

610

1

1,183

15,411

At 31 March 2025

20,400

905

1

1,504

22,810

8.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 April 2025

8,230

Disposals

(8,041

)

At 31 March 2026

189

NET BOOK VALUE

At 31 March 2026

189

At 31 March 2025

8,230

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Delphic HSE Solutions (HK) Limited

Registered office: Unit 210, 2/F, Building 16W, Phase Three, Hong Kong Science Park, Pak Shek Kok, New Territories, Hong Kong

Nature of business: Toxicology consultancy

%

Class of shares:

holding

Ordinary

100.00

2026

2025

£

£

Aggregate capital and reserves

944,744

1,142,199

Profit for the year

336,046

625,371

Delphic HSE (Europe) B.V.

Registered office: The Base B, Evert van de Beekstraat 104, Schiphol, 1118CN, Netherlands

Nature of business: Toxicology consultancy

%

Class of shares:

holding

Ordinary

100.00

2026

2025

£

£

Aggregate capital and reserves

(318,776

)

(326,945

)

Profit for the year

22,341

20,684

Delphic HSE Solutions LLC

Registered office: 3753 Howard Hughes Parkway, Suite 200 - 1277, Las Vegas, NV 89169, US

Nature of business: Toxicology consultancy

%

Class of shares:

holding

Ordinary

100.00

2026

2025

£

£

Aggregate capital and reserves

-

(112,073

)

Loss for the year

-

(56,902

)

This company was dissolved during the period.

Delphic HSE Pty Ltd

Registered office: Level 11, 456 Lonsdale Street, Melbourne, VIC 3000, Australia

Nature of business: Toxicology consultancy

%

Class of shares:

holding

Ordinary

100.00

This company was dormant during the period.

Delphic HSE Shanghai

Registered office: No. 799, Ximen Road, Chengqiao Town, Chongming District, Shanghai, China

Nature of business: Toxicology consultancy

%

Class of shares:

holding

Ordinary

100.00

This company came out of dormancy during the period.

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2026

2025

2026

2025

£

£

£

£

Trade debtors

1,386,044

922,568

1,176,735

730,488

Amounts owed by group undertakings

-

-

560,378

649,850

Amounts owed by related party

-

11,436

-

11,436

Other debtors

242,674

214,335

130,795

97,423

Directors' current accounts

-

5,215

-

-

1,628,718

1,153,554

1,867,908

1,489,197