Company registration number 12567117 (England and Wales)
MGPM HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
MGPM HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr Michael Gavin
Mr Paul Marcinkowski
Company number
12567117
Registered office
Avenue HQ
17 Mann Island
Liverpool
L3 1BP
Auditor
Xeinadin Audit Limited
46 Hamilton Square
Birkenhead
Wirral
Merseyside
CH41 5AR
MGPM HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 26
MGPM HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

The directors present the strategic report for the year ended 30 June 2025.

Company Performance

The financial year ending June 2025 was a period in which we demonstrated resilience and strategic progress at MGPM, despite ongoing challenges in the UK hospitality sector. Group revenue increased by 8.2% to £14.69 million (2024: £13.57 million), reflecting both organic growth and successful diversification of our client base. Group operating profit before taxation rose slightly to £651,714 (2024: £638,358), with group net profit for the year at £486,346 (2024: £475,818). This increase in profitability is pleasing especially when considered in the light of a significant change in Employers National Insurance taxation rates and thresholds which occurred during this financial year.

As a group MGPM made a conscious choice to work in partnership with clients to help navigate this very significant change and share the financial burden which is partially why gross profit margin decreased by 1% to 18.4% compared to 2024 (19.4%). Net profit margin fell by a smaller amount from 4.70% (2024) to 4.44% (2025) due to a successful focus on cost controls.

Group equity increased to £1.89 million (2024: £1.67 million), underlining the company’s continued financial strength and prudent management. Cash at bank and in hand remained robust at £1.67 million.

Strategic Progress

During this financial year, significant progress was made in enhancing the utilisation of technology and AI within our recruitment process. Alongside continued growth in the Festivals and BOH (Back of House) divisions, these developments have enabled MGPM to operate successfully within the competitive UK hospitality agency staff market. The company has established a clear strategy to further integrate technology into its operations in the coming year and an updated focus on revenue diversification.

Accreditations

We achieved Investors in People Platinum, a recognition earned by just 7% of over 50,000 assessed firms worldwide, highlighting our focus on supporting our people. We also retained our ISO 9001 and 14001 accreditations, confirming our ongoing commitment to quality assurance and environmental best practices.

Risk Management

The board of the business considers the principal risks to be as follows:

Legislation Changes - The introduction of the Employment Rights Bill presents uncertainties regarding its practical implications for our operation and engagement with team members. Much will depend on specific regulations, which remain unconfirmed at this time. The board is actively monitoring developments through its connections with the CBI and REC and is preparing various strategies and models to ensure that MGPM can continue to support its people and succeed within a new regulatory framework.

Loss of Key Personnel - The departure of key personnel from the business may significantly affect performance levels. To address this, the company engages in succession planning and provides its essential employees with financial and benefits packages that reflect their roles and ongoing contributions to MGPM.

Increased Taxation - The possibility of new business taxation being announced in Autumn 2025 may result in a substantial financial impact for Arc if this comes to fruition.

Market Changes - The UK market for hospitality services at large venues and stadiums is evolving due to the entry of new providers. These changes may affect existing relationships and supply models as contracts change hands, presenting both potential benefits and challenges. It is important for MGPM to maintain strong performance standards and mutually beneficial partnerships with primary stakeholders.

MGPM HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

Margin Pressure - The sectors we operate in are highly competitive; pricing and margin pressure are constant challenges. It is essential we deliver genuine value for money for our clients and continue to set the business up to thrive in a future environment which is changed due to technology.

Compliance Breach - A breach of key legislation (such as Right to Work or Minimum Wage) could seriously damage our reputation and finances. To reduce this risk, we maintain a strong schedule of internal and external audits.

Client Exposure - The loss of a major client could adversely affect both business profitability and future performance. To mitigate this risk, we have prioritised agility and consistently delivered both quantitative and qualitative results for our clients at competitive prices. Over the past 12 months, we have successfully reduced client concentration risk; the number of clients with annual spending exceeding £100,000 has increased from 24 to 26.

Our Impact

We are committed to creating triple bottom line value (people, profit & planet) as a company.

We have a very clear company vision “to shape the world of flexible work into a better place for all”.

Back in 2022, we set out a clear 3 year Impact Strategy built around three key pillars:

- Fairer Recruitment & Staffing

- Tackling Barriers to Employment

- Taking Climate Action

Over the past few years, we’ve created significant additional value for our stakeholders. This year was no different.

Key wins for 2025 include:

- Reduced overall carbon emissions by a further 7%, marking a 39% reduction since 2022.

- Exceeded our pledge target with 7670 Team Members making climate pledges greatly exceeding our original goal of 5000.

- Published detailed industry research on Fairer Recruitment & Staffing to help shape fairer hiring and selection practices.

- Introduced AI video assessments to ensure consistency and fairness within our recruitment process.

- Improved Employee and Team Member satisfaction scores and achieved Investors in People Platinum

- Partnered with several clients on our sustainability initiatives including gathering more travel data from our team members and placing our team into direct ‘green team’ roles.

Our new and updated Impact Strategy for 2025-2028 will be published shortly.

Outlook

We have made a positive start to the financial year ending June 2026 with hours supplied up by 2.4 % for the first quarter of the financial year in comparison to 2025.

On behalf of the board

Mr Michael Gavin
Director
15 December 2025
MGPM HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

The directors present their annual report and financial statements for the year ended 30 June 2025.

Principal activities

The principal activity of the company and group continued to be that o f human resources provision and management of human resources functions.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £263,258. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr Michael Gavin
Mr Paul Marcinkowski
Disabled persons

MGPM Group is committed to equal opportunities for all staff and applicants

It is our policy that all employment decisions are based on merit and the legitimate business needs of the organization. We do not discriminate on the basis of race, colour or nationality, ethnic or national origins, sex, gender reassignment, sexual orientation, marital or civil partner status, pregnancy or maternity, disability, religion or belief, age or any other ground on which it is or becomes unlawful to discriminate under the laws of England, Wales and Scotland.

Our intention is to enable all our staff to work in an environment which allows them to fulfill their potential without fear of discrimination, harassment or victimization. The Employer's commitment to equal opportunities extends to all aspects of the working relationship including:

- Recruitment and selection procedures;

- Terms of employment, including pay, conditions and benefits;

- Training, appraisals, career development and promotion;

- Work practices, conduct issues, allocation of tasks, discipline and grievances;

- Work-related social events; and

- Termination of employment and matters after termination, including references.

Employee involvement

Information is shared on a regular basis with all employees, including monthly packs from the Senior Leadership meetings. These updates contain financial summaries of the latest performance as well as updates from other departments such as Operations, Marketing, Commercial and HR. Monthly league tables are produced to encourage competition between each of our 6 hubs, the results of which are based upon financial output and are celebrated on a company wide basis. In addition to the monthly updates we also hold an annual 'Future Forum' that focuses on the strategy of the business and longer term vision. Employees are encouraged to actively participate in this event and share ideas.

Employee surveys are undertaken twice a year and the resulting trends are acted upon to improve any perceived weaker areas. This is done via focus groups that allow us to gain further information around the survey results and drill into the detail, allowing us to make the necessary adjustments. Training courses can result from these discussions if any needs are identified.

MGPM HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -

These steps have resulted in the company being awarded an Investors in People Gold award.

There are financial incentives for staff to be full invested in the financial performance of the business in the form of profit based bonus schemes. All departments are encouraged to play their part in the overall financial performance of the business whether that be by driving revenue, saving costs or improving internal controls and efficiencies. There is a clear payroll banding across the business and all staff are aware of the bandings and the attached salaries.

Directors also hold 1-2-1’s with all core staff members with information shared in both directions about the strategy of the business and detailed operational points. As both of the directors are heavily involved in the day to day running of the business it means that they are readily available to all staff.

Auditor

In accordance with the company's articles, a resolution proposing that Xeinadin Audit Limited be reappointed as auditor of the group will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr Michael Gavin
Director
15 December 2025
MGPM HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2025
- 5 -

The directors are responsible for preparing the Annual Report 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 group and company, and of the profit or loss of the group 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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

MGPM HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MGPM HOLDINGS LIMITED
- 6 -
Opinion

We have audited the financial statements of MGPM Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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 the parent company's affairs as at 30 June 2025 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

MGPM HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF MGPM HOLDINGS LIMITED
- 7 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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 is 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 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 directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including

fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

MGPM HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF MGPM HOLDINGS LIMITED
- 8 -

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and relevant regulators.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Helen Furlong FCCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
46 Hamilton Square
Birkenhead
Wirral
Merseyside
CH41 5AR
15 December 2025
MGPM HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
14,687,625
13,569,771
Cost of sales
(11,980,952)
(10,934,869)
Gross profit
2,706,673
2,634,902
Administrative expenses
(2,078,913)
(2,015,180)
Other operating income
3,755
804
Operating profit
4
631,515
620,526
Interest receivable and similar income
6
20,199
17,832
Profit before taxation
651,714
638,358
Tax on profit
7
(165,368)
(162,540)
Profit for the financial year
486,346
475,818
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
MGPM HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
15,451
21,271
15,451
21,271
Current assets
Debtors
12
2,787,407
2,413,358
Cash at bank and in hand
1,668,018
1,808,429
4,455,425
4,221,787
Creditors: amounts falling due within one year
13
(2,572,712)
(2,566,527)
Net current assets
1,882,713
1,655,260
Total assets less current liabilities
1,898,164
1,676,531
Provisions for liabilities
Deferred tax liability
14
3,863
5,318
(3,863)
(5,318)
Net assets
1,894,301
1,671,213
Capital and reserves
Called up share capital
17
200
200
Profit and loss reserves
1,894,101
1,671,013
Total equity
1,894,301
1,671,213

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 15 December 2025 and are signed on its behalf by:
15 December 2025
Mr Michael Gavin
Director
Company registration number 12567117 (England and Wales)
MGPM HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
10
1,891,967
1,678,874
Current assets
Debtors
12
6,712
-
0
Cash at bank and in hand
334
382
7,046
382
Creditors: amounts falling due within one year
13
(4,812)
(8,043)
Net current assets/(liabilities)
2,234
(7,661)
Net assets
1,894,201
1,671,213
Capital and reserves
Called up share capital
17
200
200
Profit and loss reserves
1,894,001
1,671,013
Total equity
1,894,201
1,671,213

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £486,246 (2024 - £475,819 profit).

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

The financial statements were approved by the board of directors and authorised for issue on 15 December 2025 and are signed on its behalf by:
15 December 2025
Mr Michael Gavin
Director
Company registration number 12567117 (England and Wales)
MGPM HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2023
200
1,505,723
1,505,923
Year ended 30 June 2024:
Profit and total comprehensive income
-
475,818
475,818
Dividends
8
-
(310,528)
(310,528)
Balance at 30 June 2024
200
1,671,013
1,671,213
Year ended 30 June 2025:
Profit and total comprehensive income
-
486,346
486,346
Dividends
8
-
(263,258)
(263,258)
Balance at 30 June 2025
200
1,894,101
1,894,301
MGPM HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2023
200
1,505,723
1,505,923
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
475,818
475,818
Dividends
8
-
(310,528)
(310,528)
Balance at 30 June 2024
200
1,671,013
1,671,213
Year ended 30 June 2025:
Profit and total comprehensive income
-
486,246
486,246
Dividends
8
-
(263,258)
(263,258)
Balance at 30 June 2025
200
1,894,001
1,894,201
MGPM HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
277,075
1,005,384
Income taxes paid
(165,592)
(141,058)
Net cash inflow from operating activities
111,483
864,326
Investing activities
Purchase of tangible fixed assets
(8,753)
(6,351)
Repayment of loans
(82)
-
Interest received
20,199
17,832
Net cash generated from investing activities
11,364
11,481
Financing activities
Dividends paid to equity shareholders
(263,258)
(310,528)
Net cash used in financing activities
(263,258)
(310,528)
Net (decrease)/increase in cash and cash equivalents
(140,411)
565,279
Cash and cash equivalents at beginning of year
1,808,429
1,243,150
Cash and cash equivalents at end of year
1,668,018
1,808,429
MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 15 -
1
Accounting policies
Company information

MGPM Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Avenue HQ, 17 Mann Island, Liverpool, L3 1BP.

The group consists of MGPM Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

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 a mounts 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.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company MGPM Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 30 June 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 16 -
1.3
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.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.5
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:

Leasehold improvements
50% on cost
Fixtures and fittings
33% on cost
Computers
25% on cost

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 recognised in the profit and loss account.

1.6
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently revalued based on the net assets on the subsidiaries at the year end.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible 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.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 17 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Cash and cash equivalents

Cash and cash equivalents 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.

1.9
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 18 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.11
Taxation

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

MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 19 -
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 group’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.

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 if, and only if, there is 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 t ax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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.

MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 20 -
3
Turnover and other revenue
2025
2024
£
£
Other revenue
Interest income
20,199
17,832
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging:
Fees payable to the group's auditor for the audit of the group's financial statements
8,200
7,500
Depreciation of owned tangible fixed assets
14,573
17,646
Operating lease charges
99,252
130,869
5
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Team Members
2,658
2,597
-
-
Directors
2
2
-
-
Finance
5
5
-
-
Sales
2
2
-
-
Admin
3
3
-
-
Operations
18
21
-
-
Total
2,688
2,630
0
0

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
12,779,792
11,764,262
-
0
-
0
Social security costs
440,309
322,030
-
-
Pension costs
198,274
172,671
-
0
-
0
13,418,375
12,258,963
-
0
-
0
MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 21 -
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
19,968
17,680
Other interest income
231
152
Total income
20,199
17,832
7
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
166,823
165,361
Deferred tax
Origination and reversal of timing differences
(1,455)
(2,821)
Total tax charge
165,368
162,540

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
651,714
638,358
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
162,929
159,590
Tax effect of expenses that are not deductible in determining taxable profit
6,082
9,105
Group relief
-
0
(1,746)
Permanent capital allowances in excess of depreciation
(2,188)
(1,588)
Deferred tax movement
(1,455)
(2,821)
Taxation charge
165,368
162,540
8
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
263,258
310,528
MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 22 -
9
Tangible fixed assets
Group
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 July 2024
33,209
32,201
57,858
123,268
Additions
-
0
455
8,298
8,753
At 30 June 2025
33,209
32,656
66,156
132,021
Depreciation and impairment
At 1 July 2024
31,366
26,012
44,619
101,997
Depreciation charged in the year
1,843
3,961
8,769
14,573
At 30 June 2025
33,209
29,973
53,388
116,570
Carrying amount
At 30 June 2025
-
0
2,683
12,768
15,451
At 30 June 2024
1,843
6,189
13,239
21,271
The company had no tangible fixed assets at 30 June 2025 or 30 June 2024.
10
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
11
-
0
-
0
1,891,967
1,678,874
Fixed asset investments revalued

Investments in subsidiary are included in the company accounts at revalued amounts based on the net assets value of the subsidiaries at year end.

If fixed asset investments were included in the company accounts on a historical cost basis then these would be included at the value of ordinary shares in the subsidiaries of £102.

MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
10
Fixed asset investments
(Continued)
- 23 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 July 2024
1,678,874
Valuation changes
213,093
At 30 June 2025
1,891,967
Carrying amount
At 30 June 2025
1,891,967
At 30 June 2024
1,678,874
11
Subsidiaries

Details of the company's subsidiaries at 30 June 2025 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
ARC Hospitality Recruitment Solutions Limited
Human resources provision and management of human resources functions
ORDINARY
100.00
ARC Recruitment Solutions Limited
Human resources provision and management of human resources functions
ORDINARY
100.00

Registered office addresses (all UK unless otherwise indicated):

1
61a Bold Street, Liverpool, England, L1 4EZ
2
61a Bold Street, Liverpool, England, L1 4EZ

The investment in subsidiaries were revalued on a net assets basis on 30th June 2024.

12
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,574,021
2,210,023
-
0
-
0
Amounts owed by group undertakings
-
-
6,712
-
Other debtors
112,215
132,422
-
0
-
0
Prepayments and accrued income
101,171
70,913
-
0
-
0
2,787,407
2,413,358
6,712
-
MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 24 -
13
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Trade creditors
26,775
81,273
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
-
0
3,231
Corporation tax payable
166,592
165,361
-
0
-
0
Other taxation and social security
822,429
868,034
-
-
Deferred income
15
-
0
12,684
-
0
-
0
Other creditors
1,529,998
1,415,765
4,812
4,812
Accruals and deferred income
26,918
23,410
-
0
-
0
2,572,712
2,566,527
4,812
8,043
14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
3,863
5,318
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 July 2024
5,318
-
Credit to profit or loss
(1,455)
-
Liability at 30 June 2025
3,863
-

The amount of the net reversal of deferred tax expected to occur next year is £4,412 relating to the reversal of existing timing differences on tangible fixed assets.

15
Deferred income
Group
Company
2025
2024
2025
2024
£
£
£
£
Other deferred income
-
0
12,684
-
-
MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 25 -
16
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
198,274
172,671

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

17
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
200
200
200
200
18
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
33,000
31,120
-
-
Between two and five years
22,000
-
-
-
55,000
31,120
-
-
19
Cash generated from group operations
2025
2024
£
£
Profit after taxation
486,346
475,818
Adjustments for:
Taxation charged
165,368
162,540
Investment income
(20,199)
(17,832)
Depreciation and impairment of tangible fixed assets
14,573
17,646
Movements in working capital:
(Increase)/decrease in debtors
(373,967)
290,927
Increase in creditors
17,638
63,601
(Decrease)/increase in deferred income
(12,684)
12,684
Cash generated from operations
277,075
1,005,384
MGPM HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 26 -
20
Analysis of changes in net funds - group
1 July 2024
Cash flows
30 June 2025
£
£
£
Cash at bank and in hand
1,808,429
(140,411)
1,668,018
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