IRIS Accounts Production v24.3.2.46 13467635 director 30.6.24 1.7.23 30.6.24 30.6.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. recruitment activities within both the public and private sectors. true true false true true false false false true true false Ordinary A 0 Ordinary B 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh134676352023-06-30134676352024-06-30134676352023-07-012024-06-30134676352022-06-30134676352022-07-012023-06-30134676352023-06-3013467635ns15:EnglandWales2023-07-012024-06-3013467635ns14:PoundSterling2023-07-012024-06-3013467635ns10:Director12023-07-012024-06-3013467635ns10:Consolidated2024-06-3013467635ns10:ConsolidatedGroupCompanyAccounts2023-07-012024-06-3013467635ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3013467635ns10:Consolidatedns10:MediumEntities2023-07-012024-06-3013467635ns10:Consolidatedns10:Audited2023-07-012024-06-3013467635ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3013467635ns10:Consolidated2023-07-012024-06-3013467635ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-3013467635ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-3013467635ns10:FullAccounts2023-07-012024-06-301346763512023-07-012024-06-3013467635ns10:OrdinaryShareClass12023-07-012024-06-3013467635ns10:OrdinaryShareClass22023-07-012024-06-3013467635ns10:RegisteredOffice2023-07-012024-06-3013467635ns10:Director22023-07-012024-06-3013467635ns10:Consolidated2022-07-012023-06-3013467635ns5:CurrentFinancialInstruments2024-06-3013467635ns5:CurrentFinancialInstruments2023-06-3013467635ns5:ShareCapital2024-06-3013467635ns5:ShareCapital2023-06-3013467635ns5:RetainedEarningsAccumulatedLosses2024-06-3013467635ns5:RetainedEarningsAccumulatedLosses2023-06-3013467635ns5:ShareCapital2022-06-3013467635ns5:RetainedEarningsAccumulatedLosses2022-06-3013467635ns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-3013467635ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-3013467635ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3013467635ns5:PatentsTrademarksLicencesConcessionsSimilar2023-07-012024-06-3013467635ns5:LeaseholdImprovements2023-07-012024-06-3013467635ns5:FurnitureFittings2023-07-012024-06-3013467635ns5:MotorVehicles2023-07-012024-06-3013467635ns5:ComputerEquipment2023-07-012024-06-3013467635ns5:LandBuildings2023-06-3013467635ns5:LeaseholdImprovements2023-06-3013467635ns5:LandBuildings2023-07-012024-06-3013467635ns5:LandBuildings2024-06-3013467635ns5:LeaseholdImprovements2024-06-3013467635ns5:LandBuildings2023-06-3013467635ns5:LeaseholdImprovements2023-06-3013467635ns5:CostValuation2023-06-3013467635ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3013467635ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3013467635ns10:OrdinaryShareClass12024-06-3013467635ns10:OrdinaryShareClass22024-06-30
REGISTERED NUMBER: 13467635 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

MDRS INVESTMENTS LIMITED

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


MDRS INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr M D Shorrock





REGISTERED OFFICE: 11 Bartle Court Business Centre
Rosemary Lane, Bartle
Preston
Lancashire
PR4 0HF





REGISTERED NUMBER: 13467635 (England and Wales)





AUDITORS: Wallwork Nelson & Johnson
Chartered Accountants & Statutory Auditors
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The director presents his strategic report of the company and the group for the year ended 30 June 2024.

REVIEW OF BUSINESS
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:





Mr M D Shorrock - Director


27 March 2025

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 JUNE 2024

The director presents his report with the financial statements of the company and the group for the year ended 30 June 2024.

DIVIDENDS
Interim dividends per share were paid as follows:
Ordinary A £1 shares 3,150 -
Ordinary B £1 shares 3,150 -


The director recommends that no final dividends be paid.

The total distribution of dividends for the year ended 30 June 2024 will be £ 315,000 .

DIRECTORS
Mr M D Shorrock has held office during the whole of the period from 1 July 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr M R Spencer - resigned 5 June 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group 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). 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

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:



Mr M D Shorrock - Director


27 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MDRS INVESTMENTS LIMITED

Opinion
We have audited the financial statements of MDRS Investments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 30 June 2024 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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
MDRS INVESTMENTS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 group's and the parent 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 group or the parent 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:

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
MDRS INVESTMENTS 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.




Paul Woodburn (Senior Statutory Auditor)
for and on behalf of Wallwork Nelson & Johnson
Chartered Accountants & Statutory Auditors
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

27 March 2025

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

30/6/24 30/6/23
Notes £    £   

TURNOVER 37,652,559 31,121,521

Cost of sales 30,750,550 25,730,826
GROSS PROFIT 6,902,009 5,390,695

Administrative expenses 5,055,164 3,696,701
1,846,845 1,693,994

Other operating income 7,750 4,942
OPERATING PROFIT 4 1,854,595 1,698,936

Interest receivable and similar income 7,436 1,411
1,862,031 1,700,347

Interest payable and similar expenses 5 156,020 83,753
PROFIT BEFORE TAXATION 1,706,011 1,616,594

Tax on profit 6 485,083 363,818
PROFIT FOR THE FINANCIAL YEAR 1,220,928 1,252,776
Profit attributable to:
Owners of the parent 1,220,928 1,252,776

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

30/6/24 30/6/23
Notes £    £   

PROFIT FOR THE YEAR 1,220,928 1,252,776


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,220,928

1,252,776

Total comprehensive income attributable to:
Owners of the parent 1,220,928 1,252,776

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

CONSOLIDATED BALANCE SHEET
30 JUNE 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 16,092 11,234
Tangible assets 10 640,469 858,668
Investments 11 - -
656,561 869,902

CURRENT ASSETS
Stocks 12 390,324 227,270
Debtors 13 5,042,776 4,038,936
Cash at bank and in hand 2,178,176 542,642
7,611,276 4,808,848
CREDITORS
Amounts falling due within one year 14 4,531,065 2,964,731
NET CURRENT ASSETS 3,080,211 1,844,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,736,772

2,714,019

CREDITORS
Amounts falling due after more than one
year

15

(274,427

)

(198,598

)

PROVISIONS FOR LIABILITIES 19 (73,153 ) (32,157 )
NET ASSETS 3,389,192 2,483,264

CAPITAL AND RESERVES
Called up share capital 20 100 100
Retained earnings 21 3,389,092 2,483,164
SHAREHOLDERS' FUNDS 3,389,192 2,483,264

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





Mr M D Shorrock - Director


MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

COMPANY BALANCE SHEET
30 JUNE 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - 398,882
Investments 11 100 100
100 398,982

CURRENT ASSETS
Stocks 12 221,974 50,470
Debtors 13 11,605 -
Cash at bank 389 620
233,968 51,090
CREDITORS
Amounts falling due within one year 14 3,933 7,967
NET CURRENT ASSETS 230,035 43,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,135

442,105

CAPITAL AND RESERVES
Called up share capital 20 100 100
Retained earnings 230,035 442,005
SHAREHOLDERS' FUNDS 230,135 442,105

Company's profit for the financial year 103,030 713,024

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 director and authorised for issue on 27 March 2025 and were signed by:





Mr M D Shorrock - Director


MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 100 1,625,388 1,625,488

Changes in equity
Dividends - (395,000 ) (395,000 )
Total comprehensive income - 1,252,776 1,252,776
Balance at 30 June 2023 100 2,483,164 2,483,264

Changes in equity
Dividends - (315,000 ) (315,000 )
Total comprehensive income - 1,220,928 1,220,928
Balance at 30 June 2024 100 3,389,092 3,389,192

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 100 123,981 124,081

Changes in equity
Dividends - (395,000 ) (395,000 )
Total comprehensive income - 713,024 713,024
Balance at 30 June 2023 100 442,005 442,105

Changes in equity
Dividends - (315,000 ) (315,000 )
Total comprehensive income - 103,030 103,030
Balance at 30 June 2024 100 230,035 230,135

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

30/6/24 30/6/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,556,079 1,145,294
Interest element of hire purchase payments
paid

(12,253

)

(9,833

)
Finance costs paid (143,767 ) (73,920 )
Tax paid (617,541 ) (100,437 )
Net cash from operating activities 1,782,518 961,104

Cash flows from investing activities
Purchase of intangible fixed assets (5,730 ) -
Purchase of tangible fixed assets (203,142 ) (593,820 )
Sale of tangible fixed assets 338,452 -
Interest received 7,436 1,411
Net cash from investing activities 137,016 (592,409 )

Cash flows from financing activities
Capital repayments in year 47,719 218,286
Amount introduced by directors 369,682 -
Amount withdrawn by directors (386,401 ) (270,520 )
Equity dividends paid (315,000 ) (395,000 )
Net cash from financing activities (284,000 ) (447,234 )

Increase/(decrease) in cash and cash equivalents 1,635,534 (78,539 )
Cash and cash equivalents at beginning of
year

2

542,642

621,181

Cash and cash equivalents at end of year 2 2,178,176 542,642

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

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

30/6/24 30/6/23
£    £   
Profit before taxation 1,706,011 1,616,594
Depreciation charges 118,850 80,814
Loss on disposal of fixed assets 86,485 -
Finance costs 156,020 83,753
Finance income (7,436 ) (1,411 )
2,059,930 1,779,750
Increase in stocks (163,054 ) (10,220 )
Increase in trade and other debtors (982,281 ) (1,308,089 )
Increase in trade and other creditors 1,641,484 683,853
Cash generated from operations 2,556,079 1,145,294

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 2,178,176 542,642
Year ended 30 June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 542,642 621,181


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank and in hand 542,642 1,635,534 2,178,176
542,642 1,635,534 2,178,176
Debt
Finance leases (218,286 ) (94,688 ) (312,974 )
Debts falling due within 1 year (1,583,468 ) (1,035,968 ) (2,619,436 )
(1,801,754 ) (1,130,656 ) (2,932,410 )
Total (1,259,112 ) 504,878 (754,234 )

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

MDRS Investments 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with the property
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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 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 balance sheet date.


MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED 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 balance sheet 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 group operates a defined contribution pension scheme. Contributions payable to the group'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 2,930,375 1,883,684
Social security costs 424,842 208,894
Other pension costs 27,891 66,772
3,383,108 2,159,350

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
49 35

30/6/24 30/6/23
£    £   
Directors' remuneration 45,730 9,876
Directors' pension contributions to money purchase schemes (10,254 ) 41,018

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

Money purchase schemes 1 1

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

30/6/24 30/6/23
£    £   
Hire of plant and machinery 43,258 -
Other operating leases 30,625 59,572
Depreciation - owned assets 73,857 50,959
Depreciation - assets on hire purchase contracts 47,844 29,197
Loss on disposal of fixed assets 86,485 -
Patents and licences amortisation 872 657
Auditors' remuneration 10,000 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
30/6/24 30/6/23
£    £   
Hire purchase 12,253 9,833
Factoring charges 143,767 73,920
156,020 83,753

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 444,087 338,144

Deferred tax 40,996 25,674
Tax on profit 485,083 363,818

UK corporation tax has been charged at 25 % .

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED 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 1,706,011 1,616,594
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

426,503

307,153

Effects of:
Expenses not deductible for tax purposes 43,845 23,370
Income not taxable for tax purposes (16 ) -
Depreciation in excess of capital allowances 10,267 7,588
Utilisation of tax losses (1,352 ) 1,027
Adjustments to tax charge in respect of previous periods (1,223 ) -
Adjustments to tax charge due to change in tax rates 7,059 24,680
Total tax charge 485,083 363,818

7. 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.


8. DIVIDENDS
30/6/24 30/6/23
£    £   
Ordinary A shares of £1 each
Interim 236,250 395,000
Ordinary B shares of £1 each
Interim 78,750 -
315,000 395,000

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. INTANGIBLE FIXED ASSETS

Group
Patents
and
licences
£   
COST
At 1 July 2023 13,151
Additions 5,730
At 30 June 2024 18,881
AMORTISATION
At 1 July 2023 1,917
Amortisation for year 872
At 30 June 2024 2,789
NET BOOK VALUE
At 30 June 2024 16,092
At 30 June 2023 11,234

10. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST
At 1 July 2023 156,305 480,112 60,248
Additions - 164,956 18,382
Disposals (156,305 ) (278,698 ) -
At 30 June 2024 - 366,370 78,630
DEPRECIATION
At 1 July 2023 - 58,833 20,110
Charge for year - 53,846 9,605
Eliminated on disposal - - -
At 30 June 2024 - 112,679 29,715
NET BOOK VALUE
At 30 June 2024 - 253,691 48,915
At 30 June 2023 156,305 421,279 40,138

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 250,560 44,659 991,884
Additions 243,305 19,804 446,447
Disposals (111,366 ) (848 ) (547,217 )
At 30 June 2024 382,499 63,615 891,114
DEPRECIATION
At 1 July 2023 29,197 25,076 133,216
Charge for year 47,844 10,406 121,701
Eliminated on disposal (3,722 ) (550 ) (4,272 )
At 30 June 2024 73,319 34,932 250,645
NET BOOK VALUE
At 30 June 2024 309,180 28,683 640,469
At 30 June 2023 221,363 19,583 858,668

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 250,560
Additions 243,305
Disposals (111,366 )
At 30 June 2024 382,499
DEPRECIATION
At 1 July 2023 29,197
Charge for year 47,844
Eliminated on disposal (3,722 )
At 30 June 2024 73,319
NET BOOK VALUE
At 30 June 2024 309,180
At 30 June 2023 221,363

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. TANGIBLE FIXED ASSETS - continued

Company
Improvements
Freehold to
property property Totals
£    £    £   
COST
At 1 July 2023 156,305 242,577 398,882
Additions - 36,121 36,121
Disposals (156,305 ) (278,698 ) (435,003 )
At 30 June 2024 - - -
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 156,305 242,577 398,882

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 100
NET BOOK VALUE
At 30 June 2024 100
At 30 June 2023 100


12. STOCKS

Group Company
30/6/24 30/6/23 30/6/24 30/6/23
£    £    £    £   
Stocks 390,324 227,270 221,974 50,470

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30/6/24 30/6/23 30/6/24 30/6/23
£    £    £    £   
Trade debtors 4,376,658 2,812,489 - -
Other debtors 210,263 81,000 10,000 -
Directors' current accounts 245,790 231,244 1,605 -
Tax 80,227 73,214 - -
Prepayments 129,838 840,989 - -
5,042,776 4,038,936 11,605 -

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30/6/24 30/6/23 30/6/24 30/6/23
£    £    £    £   
Other loans (see note 16) 2,619,436 1,583,468 - -
Hire purchase contracts (see note 17) 38,547 19,688 - -
Trade creditors 32,778 33,567 - -
Tax 244,731 337,959 - -
Social security and other taxes 721,624 177,408 - -
Other creditors 46,431 41,389 3,173 -
Directors' current accounts - 781 - 7,247
Accrued expenses 827,518 770,471 760 720
4,531,065 2,964,731 3,933 7,967

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
30/6/24 30/6/23
£    £   
Hire purchase contracts (see note 17) 274,427 198,598

16. LOANS

An analysis of the maturity of loans is given below:

Group
30/6/24 30/6/23
£    £   
Amounts falling due within one year or on demand:
Other loans 2,619,436 1,583,468

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30/6/24 30/6/23
£    £   
Net obligations repayable:
Within one year 38,547 19,688
Between one and five years 274,427 198,598
312,974 218,286

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

17. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
30/6/24 30/6/23
£    £   
Within one year 46,219 46,219
Between one and five years 92,798 139,017
139,017 185,236

18. SECURED DEBTS

The following secured debts are included within creditors:

Group
30/6/24 30/6/23
£    £   
Other loans 2,619,436 1,583,468

The invoice discounting facility is secured by a fixed and floating charge over the company's assets.

19. PROVISIONS FOR LIABILITIES

Group
30/6/24 30/6/23
£    £   
Deferred tax 73,153 32,157

Group
Deferred
tax
£   
Balance at 1 July 2023 32,157
Provided during year 40,996
Balance at 30 June 2024 73,153

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/24 30/6/23
value: £    £   
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100

MDRS INVESTMENTS LIMITED (REGISTERED NUMBER: 13467635)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

21. RESERVES

Group
Retained
earnings
£   

At 1 July 2023 2,483,164
Profit for the year 1,220,928
Dividends (315,000 )
At 30 June 2024 3,389,092


22. 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
£    £   
M D Shorrock
Balance outstanding at start of year 231,244 -
Amounts advanced 261,639 231,244
Amounts repaid (251,870 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 241,013 231,244

23. RELATED PARTY DISCLOSURES

The director operated a loan account with the company. The balance owed from the director at 30 June 2024 was £241,013 (2023: £231,244).

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be the company's directors and shareholders.