MEDICAL RESEARCH NETWORK LIMITED
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Cash
£905K
-56.3% vs 2023
Net assets
-£1.1M
-88% lowest in 4 filed years
Employees
137
-23.5% vs 2023
Profit before tax
-£14K
+99.7% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
4-year trend · vs Industrials median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2019-12-31 | 2020-12-31 | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | £20,895,200 | £38,031,736 | £45,755,178 | £46,817,009 | +2.3% | |
| Operating profit | £198,344 | £5,924,002 | -£5,107,192 | -£90,926 | +98.2% | |
| Profit before tax | £72,444 | £5,772,354 | -£4,976,750 | -£13,825 | +99.7% | |
| Net profit | £29,102 | £4,641,567 | -£4,432,830 | -£179,069 | +96% | |
| Cash | £298,216 | £2,658,881 | £2,070,945 | £905,387 | -56.3% | |
| Total assets less current liabilities | -£77,141 | £4,631,137 | -£362,406 | -£1,109,023 | -206% | |
| Net assets | -£228,048 | £4,413,519 | -£589,760 | -£1,109,023 | -88% | |
| Equity | -£228,048 | £4,413,519 | -£589,760 | -£1,109,023 | -88% | |
| Average employees | 90 | 116 | 179 | 137 | -23.5% | |
| Wages | £4,503,275 | £6,982,864 | £11,232,281 | £9,639,088 | -14.2% | |
| Directors' remuneration | £602,028 | £634,793 | £635,455 | £350,298 | -44.9% |
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 | 2019-12-31 | 2020-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|
| Operating margin | 0.9% | 15.6% | -11.2% | -0.2% | |
| Net margin | 0.1% | 12.2% | -9.7% | -0.4% | |
| Return on capital employed | — | 127.9% | — | — | |
| Current ratio | — | — | 0.88x | 0.91x | |
| Interest cover | 1.58x | 38.94x | — | — |
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
- Azets Audit Services
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“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, being at least 12 months from the approval of the financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The group's invoice discounting facility is due for renewal in November 2025, but having received an offer for extension and performed due diligence on the potential for alternative sources of funding, the directors are confident in the availability of financing to fulfil the group's ambitions and obligations. Based on the modelling work performed and stress-testing MRN's financial forecasts, the directors assert that the group remains a going concern for the period under review, and that there are no material uncertainties present.”
Significant events
- “After the reporting date, the company initiated a strategic restructuring process aimed at enhancing operational efficiency and long-term growth. As part of this initiative, a redundancy programme was announced in June 2025, affecting 16 roles. The total cost of he redundancy was £238,000 with an annualised costs saving of £891,000.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| AYRES, Susan Barbara | Secretary | 2014-10-09 | — | — |
| WYLIE, Elaine, Dr | Director | 2016-02-26 | Sep 1963 | British |
| WYLIE, Graham Leatham, Dr | Director | 2006-10-20 | Jul 1962 | British |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| WYLIE, Graham Leatham, Dr | Secretary | 2006-10-20 | 2011-09-12 |
| CLARK HOWES BUSINESS SERVICES LIMITED | Corporate Secretary | 2011-09-13 | 2014-10-09 |
| BAKER, Helena Anne | Director | 2016-02-26 | 2020-02-28 |
| BODFISH, Paul | Director | 2016-02-26 | 2021-03-05 |
| FRASER, Shelley Kim | Director | 2022-05-02 | 2023-06-06 |
| GORDON, Michael Andrew | Director | 2007-07-17 | 2015-10-30 |
| MOUNCER, Simon Stuart | Director | 2016-02-26 | 2021-12-31 |
| REDDING, Stuart | Director | 2016-02-26 | 2026-01-07 |
| WYLIE, Elaine, Dr | Director | 2007-01-08 | 2009-01-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mrn Inflection Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 98 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-14 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-30 | AA | accounts | Accounts with accounts type full | |
| 2024-11-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-13 | AA | accounts | Accounts with accounts type full | |
| 2024-05-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-11-10 | AA | accounts | Accounts with accounts type full | |
| 2023-11-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-08 | TM01 | officers | Termination director company with name termination date | |
| 2023-01-04 | AA | accounts | Accounts with accounts type full | |
| 2022-12-21 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-12-21 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-11-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-04 | CH01 | officers | Change person director company with change date | |
| 2022-11-04 | CH01 | officers | Change person director company with change date | |
| 2022-05-04 | AP01 | officers | Appoint person director company with name date | |
| 2022-03-11 | TM01 | officers | Termination director company with name termination date | |
| 2021-10-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-30 | AA | accounts | Accounts with accounts type full | |
| 2021-03-22 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
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.