REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
SPENCER CLARKE GROUP LIMITED |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
SPENCER CLARKE GROUP LIMITED |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Director | 3 |
Report of the Independent Auditors | 5 |
Statement of Income and Retained Earnings | 8 |
Statement of Financial Position | 9 |
Notes to the Financial Statements | 10 |
SPENCER CLARKE GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Chandler House |
7 Ferry Road Office Park |
Riversway |
Preston |
Lancashire |
PR2 2YH |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30 JUNE 2024 |
The director presents his strategic report for the year ended 30 June 2024. |
GENERAL REVIEW |
The principal activities of the business continue to be recruitment activities within both the public and private sectors. |
The company again experienced growth during the year in terms of increased turnover, revenue and profitability. |
In order to facilitate future growth and ambition, it was determined that we focus on growing our education division and increasing our public sector offering. |
The challenges continue to be an increase in compliance costs and reduction of margins within the public sector, along with increased competition |
PRINCIPAL RISKS AND UNCERTAINTIES |
The biggest risk and uncertainty for the business is a reduction in spend within the public sector and changes in legislation. |
PEOPLE |
Our people are at the heart of our business' success. We grew the team by increasing our back office, marketing and resourcing functions to support new and existing consultants. |
Some of the key highlights during the last year in relation to people are promotions of several staff and appointments to our senior leadership team. |
PLANET |
We are committed to achieving a reduction of 90% in greenhouse gas emissions by 2035, along with a commitment to achieving net zero greenhouse gas emissions by 2045. |
FUTURE FOCUS |
The team have been working hard in developing our offering within the public sector, opening new divisions to facilitate future growth. |
ON BEHALF OF THE BOARD: |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 30 JUNE 2024 |
The director presents his 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 an employment placement agency. |
DIVIDENDS |
An interim dividend of |
The total distribution of dividends for the year ended 30 June 2024 will be £ |
DIRECTORS |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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. |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 30 JUNE 2024 |
AUDITORS |
The auditors, Wallwork Nelson & Johnson, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
SPENCER CLARKE GROUP LIMITED |
Opinion |
We have audited the financial statements of Spencer Clarke Group Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 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 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 financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
SPENCER CLARKE GROUP LIMITED |
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 Director. |
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 director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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: |
- Enquiry of management around the actual and potential litigation and claims. |
- Enquiry of entity staff to identify any instances of non-compliance with laws and regulation. |
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. |
- Auditing the risk of management override of controls, including reviewing journals entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. |
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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
SPENCER CLARKE GROUP LIMITED |
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. |
for and on behalf of |
Chartered Accountants & Statutory Auditors |
Chandler House |
7 Ferry Road Office Park |
Riversway |
Preston |
Lancashire |
PR2 2YH |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
STATEMENT OF INCOME AND RETAINED EARNINGS |
FOR THE YEAR ENDED 30 JUNE 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,937,789 | 1,699,954 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
1,952,869 | 1,705,752 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
Retained earnings at beginning of year |
Dividends | 7 | ( |
) | ( |
) |
RETAINED EARNINGS AT END OF YEAR |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
STATEMENT OF FINANCIAL POSITION |
30 JUNE 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Tangible assets | 9 |
CURRENT ASSETS |
Stocks | 10 |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 17 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 18 |
Retained earnings | 19 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Spencer Clarke Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of paragraph 3.17(d). |
Turnover |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied: |
- The amount of revenue can be measured reliably |
- It is probable that the company will receive the consideration due under the contract |
- The costs incurred or to be incurred in respect of the contract can be measured reliably |
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 |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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. |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid 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. |
3. | EMPLOYEES AND DIRECTORS |
30/6/24 | 30/6/23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
30/6/24 | 30/6/23 |
Management | 10 | 8 |
Sales and administration | 39 | 27 |
30/6/24 | 30/6/23 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes | ( |
) |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
30/6/24 | 30/6/23 |
£ | £ |
Hire of plant and machinery |
Other operating leases |
Depreciation - owned assets |
Depreciation - assets on hire purchase contracts |
Profit on disposal of fixed assets | ( |
) |
Patents and licences amortisation |
Auditors' remuneration |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30/6/24 | 30/6/23 |
£ | £ |
Hire purchase |
Factoring charges |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30/6/24 | 30/6/23 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
UK corporation tax has been charged at 25% . |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
6. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
30/6/24 | 30/6/23 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) |
Depreciation in excess of capital allowances |
Utilisation of tax losses | ( |
) |
Under provision | (1,223 | ) | - |
Adjustments to tax charge due to change in tax rates | 7,059 | 24,680 |
Total tax charge | 485,083 | 363,818 |
7. | DIVIDENDS |
30/6/24 | 30/6/23 |
£ | £ |
Ordinary shares of £1 each |
Interim |
8. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
Amortisation for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
9. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 July 2023 |
Additions |
Disposals | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
10. | STOCKS |
30/6/24 | 30/6/23 |
£ | £ |
Stocks |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 244,185 | 237,710 |
Tax |
Prepayments |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Other loans (see note 14) |
Hire purchase contracts (see note 15) |
Trade creditors |
Tax |
Social security and other taxes |
Pensions |
Accruals and deferred income |
Accrued expenses |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Hire purchase contracts (see note 15) |
14. | LOANS |
An analysis of the maturity of loans is given below: |
30/6/24 | 30/6/23 |
£ | £ |
Amounts falling due within one year or on demand: |
Invoice discounting facility |
15. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
30/6/24 | 30/6/23 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
15. | LEASING AGREEMENTS - continued |
Non-cancellable operating | leases |
30/6/24 | 30/6/23 |
£ | £ |
Within one year |
Between one and five years |
16. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/6/24 | 30/6/23 |
£ | £ |
Invoice discounting facility |
The invoice discounting facility is secured by a fixed and floating charge over the company's assets. |
17. | PROVISIONS FOR LIABILITIES |
30/6/24 | 30/6/23 |
£ | £ |
Deferred tax | 73,153 | 32,157 |
Deferred |
tax |
£ |
Balance at 1 July 2023 |
Provided during year |
Balance at 30 June 2024 |
18. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30/6/24 | 30/6/23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
19. | RESERVES |
Retained |
earnings |
£ |
At 1 July 2023 |
Profit for the year |
Dividends | ( |
) |
At 30 June 2024 |
SPENCER CLARKE GROUP LIMITED (REGISTERED NUMBER: 10784592) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
20. | ULTIMATE PARENT COMPANY |
The company is controlled by MDRS Investments Limited. |
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is MDRS Investments Limited, a company incorporated in England. Consolidated accounts are available from its registered office at 11 Bartle Court Business Centre, Rosemary Lane, Bartle, Preston, Lancashire, PR4 0HF. |
In the opinion of the directors this is the company's ultimate parent and controlling party. |
21. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023: |
30/6/24 | 30/6/23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
22. | RELATED PARTY DISCLOSURES |
The director operated a loan account with the company. The balance owed from the director at 30 June 2024 was £244,185 (2023: £237,710). |
The company is a wholly owned subsidiary of MDRS Investments Limited and has taken advantage of the exemption conferred by section 33.1A of FRS102 not to disclose transactions with MDRS Investments Limited. |