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REGISTERED NUMBER: 04716827 (England and Wales)












STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

MULTI RESOURCE MARKETING LIMITED

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024










Page


Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Income and Retained Earnings 8

Balance Sheet 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


MULTI RESOURCE MARKETING LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: P Kerr
D J Sherrin
M D Wood
M Rigby
S Couves



REGISTERED OFFICE: Barberton House
Farndon Road
Market Harborough
Leicestershire
LE16 9NR



REGISTERED NUMBER: 04716827 (England and Wales)



SENIOR STATUTORY AUDITOR: Paul Orton FCA FCCA



AUDITORS: Magma Audit LLP (part of the Dains Group)
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

STRATEGIC REPORT
for the year ended 30 June 2024


The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The results for the year and the financial position at the year-end were considered satisfactory by the directors who expect continued modest growth in normal market conditions.

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written on the context of the risks and uncertainties we face.

As a marketing services company we continue to provide a diverse range of marketing service solutions to our clients.

The company's activities are summarised as follows:

- Promotion management and fulfilment
- Database management
- Point of Sale logistics management
- Competition Handling and Publishing Services
- E-Commerce fulfilment
- Coupon Clearing/Claim handling
- Digital promotional management

PRINCIPAL RISKS AND UNCERTAINTIES
As for many businesses of our size, the environment in which we operate continues to be challenging and the market we are in is highly competitive. Margins are under pressure from both increased costs and a determination from clients to reduce selling prices.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control.

The company is minimally exposed to exchange rate risks because of the volatility that has arisen in the foreign exchange markets. This risk is being mitigated by invoicing in Euros where outgoings are made in Euros thus eliminating any exchange risk where possible.

KEY PERFORMANCE INDICATORS
We consider that our key performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross margin, pre tax profits and return on capital employed.

The year has seen an increase in activity across some areas of the business from last year's level. Additionally, a change in mix of business is reflected in the gross margin percentage which has decreased by 0.69%.

2024 2023
£    £   

Gross margin 1,932 1,758

Gross margin percentage 35.31% 36.00%


Well known inflationary pressures on certain unavoidable costs coupled with a difficult economic climate contributed to upward pressure on costs across the business. However continued control in the management of operating costs has ultimately contributed to an increase in pre-tax profits from last year's levels.
2024 2023
£    £   

Pre-tax profits 496 363

Return on capital employed 106.04% 14.84%


MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

STRATEGIC REPORT
for the year ended 30 June 2024

FINANCIAL INSTRUMENTS
Interest rate risk
The company reviews its exposure to interest rates regularly and considers the benefit (or otherwise) of hedging against adverse interest rate movements as part of these reviews.

Foreign currency risk
Foreign currency exposure resulting trade with customers and suppliers abroad is mitigated by a hedging policy adopted by the company.

Credit risk
Managing cashflow and credit risk is a priority of the company. All customers are subject to credit checks to reduce exposure to bad debts and to maintain cashflow to support the working capital required for the operations within the business.

ON BEHALF OF THE BOARD:





P Kerr - Director


19 March 2025

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

REPORT OF THE DIRECTORS
for the year ended 30 June 2024


The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of data processing for membership subscriptions, competition management and promotional services.

DIVIDENDS
Dividends of £2,401,750 were paid during the year (2023 - £90,000). The directors recommend that no final dividend will be paid.

FUTURE DEVELOPMENTS
Information relating to future developments is given in the Strategic Report of the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

P Kerr
D J Sherrin
M D Wood
M Rigby

Other changes in directors holding office are as follows:

N Richardson - resigned 30 June 2024

S Couves was appointed as a director after 30 June 2024 but prior to the date of this report.

FINANCIAL INSTRUMENTS
Information relating to financial instruments is given in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

REPORT OF THE DIRECTORS
for the year ended 30 June 2024


AUDITORS
The auditors, Magma Audit LLP (part of the Dains Group), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P Kerr - Director


19 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MULTI RESOURCE MARKETING LIMITED


Opinion
We have audited the financial statements of Multi Resource Marketing Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, 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 30 June 2024 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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.

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

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

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

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MULTI RESOURCE MARKETING LIMITED


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

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

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

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and the industry, we have identified the principal risks of non-compliance with laws and regulations, and we have considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006, health and safety regulations and employment law. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries, and management bias in accounting estimates. Audit procedures performed included:

- Enquiries with management for consideration of known or suspected instances of non-compliance with laws and
regulations and fraud;
- Challenging assumptions made by management in their accounting estimates and judgements formed, in particular impairment of debtors, face value accounts and dilapidations provisions;
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

There are inherent limitations in the audit procedures described above. The more removed non-compliance with laws and regulations is, from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by forgery or intentional misrepresentation, for example, or through 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 Report of the Auditors.

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




Paul Orton FCA FCCA (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP (part of the Dains Group)
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

20 March 2025

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

STATEMENT OF INCOME AND
RETAINED EARNINGS
for the year ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 4 5,472,928 4,883,073

Cost of sales (3,540,508 ) (3,124,989 )
GROSS PROFIT 1,932,420 1,758,084

Administrative expenses (1,427,058 ) (1,379,998 )
OPERATING PROFIT 6 505,362 378,086

Interest receivable and similar income 1,181 485
506,543 378,571

Interest payable and similar expenses 7 (9,560 ) (14,863 )
PROFIT BEFORE TAXATION 496,983 363,708

Tax on profit 8 (118,832 ) (69,870 )
PROFIT FOR THE FINANCIAL YEAR 378,151 293,838

Retained earnings at beginning of year 2,365,123 2,161,285

Dividends 9 (2,401,750 ) (90,000 )

RETAINED EARNINGS AT END OF YEAR 341,524 2,365,123

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 55,440 26,230
55,440 26,230

CURRENT ASSETS
Debtors 12 2,610,865 4,594,696
Cash at bank and in hand 1,745,122 1,128,896
4,355,987 5,723,592
CREDITORS
Amounts falling due within one year 13 (3,934,874 ) (3,201,266 )
NET CURRENT ASSETS 421,113 2,522,326
TOTAL ASSETS LESS CURRENT
LIABILITIES

476,553

2,548,556

CREDITORS
Amounts falling due after more than one
year

14

(55,406

)

(103,810

)

PROVISIONS FOR LIABILITIES 18 (48,623 ) (48,623 )
NET ASSETS 372,524 2,396,123

CAPITAL AND RESERVES
Called up share capital 19 31,000 31,000
Retained earnings 20 341,524 2,365,123
SHAREHOLDERS' FUNDS 372,524 2,396,123

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





P Kerr - Director


MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

CASH FLOW STATEMENT
for the year ended 30 June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 996,838 320,708
Interest paid (9,560 ) (14,863 )
Tax paid (69,870 ) (57,825 )
Net cash from operating activities 917,408 248,020

Cash flows from investing activities
Purchase of tangible fixed assets (52,209 ) (21,513 )
Sale of tangible fixed assets - 260
Interest received 1,181 485
Net cash from investing activities (51,028 ) (20,768 )

Cash flows from financing activities
Loan repayments in year (48,404 ) (38,318 )
Equity dividends paid (201,750 ) (90,000 )
Net cash from financing activities (250,154 ) (128,318 )

Increase in cash and cash equivalents 616,226 98,934
Cash and cash equivalents at beginning
of year

2

1,128,896

1,029,962

Cash and cash equivalents at end of year 2 1,745,122 1,128,896

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE CASH FLOW STATEMENT
for the year ended 30 June 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 496,983 363,708
Depreciation charges 22,999 16,391
Profit on disposal of fixed assets - (260 )
Finance costs 9,560 14,863
Finance income (1,181 ) (485 )
528,361 394,217
Increase in trade and other debtors (216,169 ) (159,968 )
Increase in trade and other creditors 684,646 86,459
Cash generated from operations 996,838 320,708

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 1,745,122 1,128,896
Year ended 30 June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 1,128,896 1,029,962


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank and in hand 1,128,896 616,226 1,745,122
1,128,896 616,226 1,745,122
Debt
Debts falling due within 1 year (45,455 ) - (45,455 )
Debts falling due after 1 year (103,810 ) 48,404 (55,406 )
(149,265 ) 48,404 (100,861 )
Total 979,631 664,630 1,644,261

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Multi Resource Marketing Limited is a limited company, registered in England and Wales. Its registered office address is Barberton House, Farndon Road, Market Harborough LE16 9NR and the registered number is 04716827.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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 entities within the group.

Turnover
Turnover represents amounts receivable for marketing services provided.

Revenue is recognised as service activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such services performed the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery 20% straight line
Fixtures, fittings and equipment20% straight line
Motor vehicles33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows 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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Monetary 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 profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Significant judgement and key estimates
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Impairment of debtors
The company makes an estimate of the recoverable value of trade debtors. When assessing the impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 12 for the net carrying amount of trade debtors.

Face value account
The company makes an estimate of the repayable value of the face value account. When assessing the repayments of the face value account, management reviews the likelihood of the face value creditors claiming the amounts due to them. See note 13 where the net carrying amount of the face value account is included within trade creditors.

Provision for dilapidations
The company has made a provision for estimated dilapidations that will arise on the vacation of the company's premises. Management have reviewed the terms of the leases and provided for the estimated dilapidations work needed based on their assessment of the current state of the premises. See note 18 where the net carrying amount of the dilapidations provision is included within provisions.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 5,096,643 4,616,270
Europe 376,285 266,803
5,472,928 4,883,073

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,578,796 1,568,519
Social security costs 120,129 116,512
Other pension costs 44,439 34,755
1,743,364 1,719,786

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Directors 5 5
Administration 4 4
Sales 2 2
Information Technology 5 3
Site and security 2 3
Direct 43 41
61 58

2024 2023
£    £   
Directors' remuneration 251,195 223,668
Directors' pension contributions to money purchase schemes 5,139 4,907

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

Money purchase schemes 1 1

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 90,653 83,777
Pension contributions to money purchase schemes 5,139 4,907

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 294,819 286,742
Depreciation - owned assets 22,999 16,391
Profit on disposal of fixed assets - (260 )
Auditors' remuneration 16,200 15,000

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 9,560 14,863

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 118,832 69,870
Tax on profit 118,832 69,870

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 496,983 363,708
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.500%)

124,246

74,560

Effects of:
Expenses not deductible for tax purposes 1,898 (2,764 )
Capital allowances in excess of depreciation (7,312 ) (1,926 )

Total tax charge 118,832 69,870

9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 2,401,750 90,000

10. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 700,000
AMORTISATION
At 1 July 2023
and 30 June 2024 700,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


11. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 413,300 311,759 7,879 732,938
Additions 50,748 1,461 - 52,209
At 30 June 2024 464,048 313,220 7,879 785,147
DEPRECIATION
At 1 July 2023 391,526 307,303 7,879 706,708
Charge for year 19,625 3,374 - 22,999
At 30 June 2024 411,151 310,677 7,879 729,707
NET BOOK VALUE
At 30 June 2024 52,897 2,543 - 55,440
At 30 June 2023 21,774 4,456 - 26,230

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,895,080 1,743,937
Amounts owed by group undertakings 535,531 2,735,558
Prepayments and accrued income 180,254 115,201
2,610,865 4,594,696

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 45,455 45,455
Trade creditors 2,785,204 1,712,405
Corporation tax 118,832 69,870
Social security and other taxes 48,405 51,860
VAT 129,956 222,738
Other creditors 41,013 5,435
Accruals and deferred income 766,009 1,093,503
3,934,874 3,201,266

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 15) 55,406 103,810

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 45,455 45,455

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


15. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 45,455 45,455

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,951 58,355

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 297,500 294,000
Between one and five years 903,750 1,127,500
In more than five years - 73,750
1,201,250 1,495,250

Operating lease payments represent rentals payable by the company for the use of land and buildings.

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 100,861 149,265

The bank loan is secured by a fixed and floating charge over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital buildings, fixtures, fixed plant and machinery.

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Other provisions 48,623 48,623

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
31,000 Ordinary £1 31,000 31,000

The company has a single class of ordinary shares which all carry full voting rights, full participating rights to distribution or on a winding up.

20. RESERVES

Retained earnings
Retained earnings includes all current and prior period retained profits and losses.

MULTI RESOURCE MARKETING LIMITED (REGISTERED NUMBER: 04716827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


21. PENSION COMMITMENTS

20242023
Defined contribution schemes£   £   

Charge to profit or loss in respect of defined contribution schemes44,43934,755

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

22. RELATED PARTY DISCLOSURES

During the year the company incurred expenditure with the The Institute of Promotional Marketing Ltd totalling £6,478 (2023 - £2,005) and at 30 June 2024 the company owed £NIL (2023 - £NIL). Both companies have a common director.

During the year, the company made property rental payments totalling £147,500 (2023 - £142,825) to Denton & Co Trustees Limited, who acted as trustees on behalf of a SIPP in which four of the directors are beneficiaries.

During the year, a total of key management personnel compensation of £ 351,038 (2023 - £ 306,409 ) was paid.

23. ULTIMATE CONTROLLING PARTY

The parent company and ultimate controlling party is Multi Resource Marketing (Holdings) Limited, a company incorporated in England and Wales which owns 100% of the share capital.

24. CASH AND CASH EQUIVALENTS

On 30 June 2024 the company held £1,531,869 (2023 - £900,403) of cash at bank on behalf of certain customers. This cash was not available for general use.