MANAGEMENT & TRAINING CORPORATION LIMITED
Operating as the UK subsidiary of the American private corrections firm Management & Training Corporation, this business provides justice, welfare, and security services under contract to the UK government.
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Cash
£4.5M
+13.3% vs 2023
Net assets
£18M
+8.5% vs 2023
Employees
405
+68% vs 2023
Profit before tax
£1.4M
+81.1% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The directors have prepared cash flow forecasts for the twelve months ending September 2026, which indicate that, taking account of reasonable possible downsides, the Company will have sufficient funds, through funding from its immediate parent company Management & Training Corporation (UK) Ltd and its ultimate parent company, Management & Training Corporation, to meet its liabilities as they fall due for that period. The forecasts consider that the current Manston contract, which constitutes the company's sole contract, expires on 30 September 2025 and that, as at the date of these financial statements, this contract has not been renewed or replaced. Management are actively bidding on several new contracts, which are in various stages of the tender process, and are confident that there is a strong pipeline of opportunities for the company to replace the expiring Manston contract. However, as no new contract has been signed to replace the Manston contact as at the date of these financial statements, a material uncertainty exists in relation to the company's ability to continue as a going concern should the company not be successful in any of the current opportunities it has tendered for.
Net assets
2-year trend · vs Unclassified median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £23,161,000 | £28,370,000 | +22.5% | |
| Operating profit | £699,000 | £1,031,000 | +47.5% | |
| Profit before tax | £774,000 | £1,402,000 | +81.1% | |
| Net profit | £774,000 | £1,402,000 | +81.1% | |
| Cash | £3,982,000 | £4,513,000 | +13.3% | |
| Total assets less current liabilities | — | — | — | |
| Net assets | £16,422,000 | £17,824,000 | +8.5% | |
| Equity | £16,422,000 | £17,824,000 | +8.5% | |
| Average employees | 241 | 405 | +68% | |
| Wages | £14,390,000 | £17,280,000 | +20.1% | |
| Directors' remuneration | £194,000 | £202,000 | +4.1% |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 3.0% | 3.6% | |
| Net margin | 3.3% | 4.9% | |
| Current ratio | 5.66x | 5.20x |
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.
Name history
Renamed 1 time since incorporation
- MANAGEMENT & TRAINING CORPORATION LIMITED 2019-02-08 → present
- MTCNOVO LTD 2014-10-28 → 2019-02-08
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Mercer & Hole LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The directors have prepared cash flow forecasts for the twelve months ending September 2026, which indicate that, taking account of reasonable possible downsides, the Company will have sufficient funds, through funding from its immediate parent company Management & Training Corporation (UK) Ltd and its ultimate parent company, Management & Training Corporation, to meet its liabilities as they fall due for that period. The forecasts consider that the current Manston contract, which constitutes the company's sole contract, expires on 30 September 2025 and that, as at the date of these financial statements, this contract has not been renewed or replaced. Management are actively bidding on several new contracts, which are in various stages of the tender process, and are confident that there is a strong pipeline of opportunities for the company to replace the expiring Manston contract. However, as no new contract has been signed to replace the Manston contact as at the date of these financial statements, a material uncertainty exists in relation to the company's ability to continue as a going concern should the company not be successful in any of the current opportunities it has tendered for.”
Group structure
- MANAGEMENT & TRAINING CORPORATION LIMITED · parent
- The London Community Rehabilitation Company Limited 100%
- The Thames Valley Community Rehabilitation Company Limited 100%
Significant events
- “In August 2024, the Company signed a new contract with the Home Office to provide services at Manston to 30 September 2025. This contract has not been renewed or replaced and services at Manston will cease on 30 September 2025.”
- “After the balance sheet date, the Company was advised that its current contract would not be renewed or replaced and services at Manston will cease on 30 September 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 15 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MARQUARDT, Daniel Blake | Director | 2023-07-27 | Jun 1989 | American |
| MARQUARDT, Robert Scott | Director | 2014-11-19 | Dec 1957 | American |
| MULHOLLAND, Ian Fisher | Director | 2022-04-25 | Dec 1967 | British |
Show 15 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MCGUINNESS, Aoife Marie, Dr | Secretary | 2019-01-09 | 2022-03-18 |
| SHERARD SECRETARIAT SERVICES LIMITED | Corporate Secretary | 2014-11-19 | 2019-01-09 |
| CARROL, Mark | Director | 2015-12-11 | 2016-04-30 |
| DENINSON, Ian Harry | Director | 2015-12-18 | 2018-03-16 |
| DUGGAN, Gillian | Director | 2014-11-19 | 2016-04-30 |
| FISHER, Amanda Lucia | Director | 2018-07-27 | 2019-01-09 |
| GHAFOOR, Asif | Director | 2016-08-01 | 2019-01-09 |
| HOOD, David | Director | 2020-06-29 | 2022-04-25 |
| MENDELLE, Justin Gordon | Director | 2014-10-28 | 2014-11-19 |
| PARRY, Lyle J | Director | 2014-11-19 | 2020-03-19 |
| ROBERTSON, Wayne Anthony | Director | 2014-11-19 | 2017-04-28 |
| SEEAR, Margaret Mary | Director | 2017-04-28 | 2018-05-18 |
| SEEAR, Margaret Mary | Director | 2016-08-01 | 2017-04-28 |
| WARD, Richard James | Director | 2017-04-28 | 2019-01-09 |
| WARNER, Bernard | Director | 2015-12-01 | 2020-06-29 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Novo Community Ltd | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2019-01-09 |
| Management & Training Corporation (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 79 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-09 | CH01 | officers | Change person director company with change date | |
| 2025-10-02 | AA | accounts | Accounts with accounts type full | |
| 2025-05-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-23 | AA | accounts | Accounts with accounts type full | |
| 2024-05-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-11 | AA | accounts | Accounts with accounts type full | |
| 2023-07-27 | AP01 | officers | Appoint person director company with name date | |
| 2023-05-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-10 | AA | accounts | Accounts with accounts type full | |
| 2022-05-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-05-04 | AA | accounts | Accounts with accounts type full | |
| 2022-04-25 | TM01 | officers | Termination director company with name termination date | |
| 2022-04-25 | AP01 | officers | Appoint person director company with name date | |
| 2022-03-18 | TM02 | officers | Termination secretary company with name termination date | |
| 2022-03-11 | DISS40 | gazette | Gazette filings brought up to date | |
| 2022-03-08 | GAZ1 | gazette | Gazette notice compulsory | |
| 2021-06-01 | CH01 | officers | Change person director company with change date | |
| 2021-06-01 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2021-06-01 | AD01 | address | Change registered office address company with date old address new address |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- 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.