REGISTERED NUMBER: 02634355 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2025

for

MAJOR PLAYERS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J Lucy

J W Parsons

REGISTERED OFFICE:

81 Rivington Street

London

EC2A 3AY

REGISTERED NUMBER:

02634355 (England and Wales)

AUDITORS:

Thorne Lancaster Parker

Chartered Accountants &

Statutory Auditors

5th Floor

Palladium House

1-4 Argyll Street

London

W1F 7TA

FIXED ASSETS

Intangible assets

5

55,562

27,099

Property, plant and equipment

6

39,692

43,956

95,254

71,055

CURRENT ASSETS

Debtors

7

3,104,796

3,782,552

Cash at bank

10,817

7,200

3,115,613

3,789,752

CREDITORS

Amounts falling due within one year

8

(3,445,492

)

(3,968,876

)

NET CURRENT LIABILITIES

(329,879

)

(179,124

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(234,625

)

(108,069

)

CAPITAL AND RESERVES

Called up share capital

109,091

109,091

Share premium

180,000

180,000

Retained earnings

(523,716

)

(397,160

)

SHAREHOLDERS' FUNDS

(234,625

)

(108,069

)

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 Board of Directors and authorised for issue on 15 September 2026 and were signed on its behalf by:

J W Parsons - Director

1.	STATUTORY INFORMATION

Major Players 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Revenue from temporary placements is recognised when the service is provided. Revenue from permanent placements is recognised when the candidate commences employment. Revenue excludes value added tax and provisions are made for refunds that may be due on this revenue.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Property, plant and equipment are initially measured at cost (or deemed cost) and are subsequently measured at cost or valuation, net of depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration initially recorded at cost.

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

Improvements to property

Over the term of the lease

Plant and machinery

At varying rates on cost

Fixtures and fittings

20% on cost

Motor Vehicles

20% on cost

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

a) Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

b) Deferred tax

Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider that it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme, where the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and the contributions actually paid are shown as either accruals or prepayments.

Financial instruments

The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade and other debtors, loans to fellow group companies, loans to related companies, other debtors and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 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.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, 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.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments 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 company after deducting all of its liabilities.

Trade creditors, other creditors and loans from fellow group and related companies are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less.

Going concern

As described in the financial statements the company has net current liabilities of £329,879 and net liabilities of £234,625. The company is dependent upon continued support of its parent and fellow subsidiaries in order to meet its day to day working capital requirements.

The company's parent undertaking has indicated that it will continue to support the company for a period of at least 12 months from the approval date of the financial statements.

The financial statements have been prepared on a going concern basis, supported by detailed cash flow forecasts through to 30 June 2028. The Group's rolling £6m invoice discounting facility provides sufficient headroom for at least the next 12 months. Management has performed scenario testing (reduced gross profit, increased debtor days) and remains confident in the Group's ability to continue as a going concern. In addition the Group have the ability to scale back costs quickly through its offshore operations should the need arise to reduce costs further in response to deteriorating market conditions.

Based on the above and taking into account the improved group trading post year end, the directors consider it appropriate to prepare the financial statements on a going concern basis. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, to provide for further liabilities that might arise and to reclassify any fixed assets and long-term liabilities as current assets and liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 38 ) .

5.	INTANGIBLE FIXED ASSETS

Intangible

fixed

Computer

asset

software

Totals

£

£

£

COST

At 1 January 2025

147,702

43,870

191,572

Additions

-

46,218

46,218

Disposals

(147,702

)

-

(147,702

)

At 31 December 2025

-

90,088

90,088

AMORTISATION

At 1 January 2025

147,702

16,771

164,473

Amortisation for year

-

17,755

17,755

Eliminated on disposal

(147,702

)

-

(147,702

)

At 31 December 2025

-

34,526

34,526

NET BOOK VALUE

At 31 December 2025

-

55,562

55,562

At 31 December 2024

-

27,099

27,099

6.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 January 2025

673,818

Additions

20,261

At 31 December 2025

694,079

DEPRECIATION

At 1 January 2025

629,862

Charge for year

24,525

At 31 December 2025

654,387

NET BOOK VALUE

At 31 December 2025

39,692

At 31 December 2024

43,956

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

2,051,735

2,030,300

Amounts owed by group undertakings

939,526

1,564,361

Other debtors

53,937

27,794

Directors' current accounts

30,791

30,791

Prepayments and accrued income

28,807

129,306

3,104,796

3,782,552

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

1,411,176

1,606,399

Trade creditors

655,381

594,261

Amounts owed to group undertakings

820,167

1,004,720

Corporation tax

-

(891

)

Social security and other taxes

264,625

386,160

Other creditors

11,849

9,336

Accruals and deferred income

282,294

368,891

3,445,492

3,968,876

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Bank overdrafts

1,411,176

1,606,399

Bank overdraft consists of the invoice discounting facility which is secured by an all assets debenture incorporating a fixed and floating charge over all the assets, present and future, of the company.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

We draw attention to the disclosures made in note 3 in the financial statements and the directors report concerning the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter

Neil Usher BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Thorne Lancaster Parker

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

31.12.25

31.12.24

£

£

J Lucy

Balance outstanding at start of year

30,791

30,791

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

30,791

30,791

Interest on Overdrawn Directors Loan accounts is charged at 2.5%.

12.	ULTIMATE PARENT UNDERTAKING

The Directors consider the ultimate parent undertaking of the company to be Majar Holdco Limited, a company incorporated in England and Wales, whose registered office is 81 Rivington Street, London, England, EC2A 3AY.

The largest and smallest group of undertakings for which the group accounts have been drawn up is that headed by Majar Holdco Limited. The consolidated accounts of the parent company are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.