MTREC LIMITED
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Cash
£1.4M
-24.8% vs 2024
Net assets
£2.7M
+7% vs 2024
Employees
118
-11.9% vs 2024
Profit before tax
£758K
-24.1% vs 2024
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-03-30
| Metric | Trend | 2024-03-31 | 2025-03-30 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £27,239,108 | £26,319,612 | -3.4% | |
| Operating profit | £1,065,309 | £813,908 | -23.6% | |
| Profit before tax | £998,601 | £757,753 | -24.1% | |
| Net profit | £716,719 | £529,960 | -26.1% | |
| Cash | £1,880,565 | £1,414,936 | -24.8% | |
| Total assets less current liabilities | £2,813,520 | £4,165,095 | +48% | |
| Net assets | £2,555,325 | £2,735,285 | +7% | |
| Equity | £2,555,325 | £2,735,285 | +7% | |
| Average employees | 134 | 118 | -11.9% | |
| Wages | £4,605,478 | £4,624,638 | +0.4% | |
| Directors' remuneration | £537,579 | £574,341 | +6.8% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-30 |
|---|---|---|---|
| Operating margin | 3.9% | 3.1% | |
| Net margin | 2.6% | 2.0% | |
| Return on capital employed | 37.9% | 19.5% | |
| Current ratio | 1.49x | 2.41x | |
| Interest cover | 11.83x | 9.49x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ryecroft Glenton
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The company meets its day to day working capital requirements through cash generated from operations. Having considered the current cash forecasts of the company, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for a period of a least twelve months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.”
Significant events
- “The successful achievement of the business plan for FY25.”
- “Ensuring all financial obligations to OPG were met for the year.”
- “The continued supply, beyond the initial one-year term of a highly prestigious automotive recruitment contract.”
- “The award of a sole supplier contract with a new multi-national manufacturing client with an expanding North-East based strategic location.”
- “The retention of key and long-term MTrec clients.”
- “Recruiting a number of permanent recruitment consultants for all key divisions in the business.”
- “The continued market-place development for the permanent recruitment divisions, as well as the acquisition of clients on a national basis.”
- “The continued and successful retention of long-serving key staff members.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
1 active · 10 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MUSGRAVE, David | Director | 2007-09-01 | Mar 1969 | British |
Show 10 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CUFF, David | Secretary | 2006-04-01 | 2006-07-01 |
| MONK, Owen Robert | Secretary | 2006-06-19 | 2011-03-31 |
| FORM 10 SECRETARIES FD LTD | Corporate Nominee Secretary | 2006-03-14 | 2006-03-15 |
| ARMSTRONG, Robin | Director | 2006-04-01 | 2016-08-30 |
| DOYLE, James | Director | 2006-06-19 | 2011-03-14 |
| KAMATA, Yuichi | Director | 2016-08-30 | 2021-08-04 |
| MONK, Owen Robert | Director | 2006-06-19 | 2011-03-31 |
| NISHIDA, Yutaka | Director | 2016-08-30 | 2021-08-04 |
| THORPE, Andrew Simon | Director | 2007-09-01 | 2010-03-01 |
| FORM 10 DIRECTORS FD LTD | Corporate Nominee Director | 2006-03-14 | 2006-03-15 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr James Stephen Doyle | Individual | Voting 25–50% | 2021-12-06 | Active |
| Mr Yutaka Nishida | Individual | Significant influence | 2016-08-30 | Active |
| Mr Yuichi Kamata | Individual | Significant influence | 2016-08-30 | Active |
| Open Up Group Inc. | Corporate entity | Shares 75–100%, Appoints directors | 2016-08-30 | Active |
| Mr Robin Armstrong | Individual | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2016-08-30 |
| Mr David Musgrave | Individual | Voting 50–75% | 2016-04-06 | Active |
Filing timeline
Last 20 of 136 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-04-26 RESOLUTIONS Resolution
- 2023-04-18 MA Memorandum articles
- 2022-05-12 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-11-24 | SH02 | capital | Capital alter shares redemption statement of capital | |
| 2025-10-24 | AA | accounts | Accounts with accounts type full | |
| 2025-03-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-11-22 | AA | accounts | Accounts with accounts type full | |
| 2024-08-14 | SH02 | capital | Capital alter shares redemption statement of capital | |
| 2024-03-28 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-02-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-10-03 | AA | accounts | Accounts with accounts type full | |
| 2023-10-03 | AA | accounts | Accounts with accounts type full | |
| 2023-09-14 | SH02 | capital | Capital alter shares redemption statement of capital | |
| 2023-04-26 | RESOLUTIONS | resolution | Resolution | |
| 2023-04-18 | SH10 | capital | Capital variation of rights attached to shares | |
| 2023-04-18 | MA | incorporation | Memorandum articles | |
| 2023-03-29 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-03-28 | AA01 | accounts | Change account reference date company previous shortened | |
| 2023-03-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-05-16 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2022-05-12 | RESOLUTIONS | resolution | Resolution | |
| 2022-05-10 | SH02 | capital | Capital alter shares subdivision |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 2
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.