REGISTERED NUMBER: 07930901 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

MRFS Investments Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A J Mackie

REGISTERED OFFICE:

316 Blackpool Road

Fulwood

Preston

Lancashire

PR2 3AE

REGISTERED NUMBER:

07930901 (England and Wales)

ACCOUNTANTS:

McDade Roberts Accountants Limited

Chartered Accountants

316 Blackpool Road

Fulwood

Preston

Lancashire

PR2 3AE

FIXED ASSETS

Intangible assets

4

467,591

537,431

Tangible assets

5

-

-

467,591

537,431

CURRENT ASSETS

Cash at bank and in hand

12,793

82,444

CREDITORS

Amounts falling due within one year

6

187,398

82,477

NET CURRENT LIABILITIES

(174,605

)

(33

)

TOTAL ASSETS LESS CURRENT LIABILITIES

292,986

537,398

CREDITORS

Amounts falling due after more than one year

7

344,888

574,358

NET LIABILITIES

(51,902

)

(36,960

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(51,903

)

(36,961

)

SHAREHOLDERS' FUNDS

(51,902

)

(36,960

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

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

(b)

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

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 September 2025 and were signed by:

Mr A J Mackie - Director

1.	STATUTORY INFORMATION

MRFS 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has closing net liabilities, it however is supported by its director and an associated company, MR Financial Services Limited with all borrowings being cross guaranteed.

The Director of MR Financial Services Ltd has given personal guarantees in order to secure the financing of the purchase of Goodwill.

Therefore the accounts have been prepared on the going concern basis.

Turnover

Turnover represents the Licence fees charged.

Income is recognised as the right to it becomes an obligation.

Goodwill

Goodwill represents the purchase of a number of client banks of Independent Financial Advisers.

Licence fees are charged for the use of the client data.

Goodwill is being amortised over a 10 year period from acquisition, this is reviewed periodically.

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

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

Fixtures and fittings

-

25% on cost

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

885,733

AMORTISATION

At 1 January 2024

348,302

Amortisation for year

69,840

At 31 December 2024

418,142

NET BOOK VALUE

At 31 December 2024

467,591

At 31 December 2023

537,431

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

1,000

DEPRECIATION

At 1 January 2024

and 31 December 2024

1,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

12,086

17,907

Other loans

22,937

10,000

Trade creditors

1

-

Amounts owed to associates

137,630

45,458

Tax

14,744

9,112

187,398

82,477

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

4,167

11,977

Bank loans - 2-5 years

-

4,167

Other loans - 1-2 years

26,417

10,000

Other loans - 2-5 years

11,500

79,167

Client Bank Aquisition Loan

302,804

469,047

344,888

574,358

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

16,253

34,051

Other loans

60,854

99,167

77,107

133,218

National Westminster Bank PLC have a charge dated 19 March 2014 over bank loans made to the company. The Director has personally guaranteed the loans also.

The bank also have a cross guarantee which has been given by MR Financial Services Limited.

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from National Westminster Bank PLC in the year.

9.	RELATED PARTY DISCLOSURES

Companies with common control

During the period the company received licence fees totalling £83,700 (31.12.23: £72,057) from companies with common control.

The company also had loans outstanding to companies with common control during the year. The loans were interest free and repayable on demand. The combined total outstanding at the year end was £137,630 (31.12.23: £45,458).