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REGISTERED NUMBER: 10798381 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Reaper Holdings Limited

Reaper Holdings Limited (Registered number: 10798381)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Statement of Financial Position 1

Statement of Changes in Equity 3

Notes to the Financial Statements 4


Reaper Holdings Limited (Registered number: 10798381)

Statement of Financial Position
30 November 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 1,300 1,300

CURRENT ASSETS
Debtors: amounts falling due within
one year

5

117,550

82,750
Debtors: amounts falling due after
more than one year

5

39,500

39,500
Cash at bank 19 695
157,069 122,945
CREDITORS
Amounts falling due within one year 6 7,227 5,493
NET CURRENT ASSETS 149,842 117,452
TOTAL ASSETS LESS CURRENT
LIABILITIES

151,142

118,752

CREDITORS
Amounts falling due after more than
one year

7

29,892

33,976
NET ASSETS 121,250 84,776

Reaper Holdings Limited (Registered number: 10798381)

Statement of Financial Position - continued
30 November 2023

2023 2022
Notes £ £ £ £
CAPITAL AND RESERVES
Called up share capital 9 1,300 1,300
Retained earnings 119,950 83,476
SHAREHOLDERS' FUNDS 121,250 84,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 29 August 2024 and were signed by:





S J Green - Director


Reaper Holdings Limited (Registered number: 10798381)

Statement of Changes in Equity
for the Year Ended 30 November 2023

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 December 2021 1,300 46,817 48,117

Changes in equity
Total comprehensive income - 36,659 36,659
Balance at 30 November 2022 1,300 83,476 84,776

Changes in equity
Total comprehensive income - 36,474 36,474
Balance at 30 November 2023 1,300 119,950 121,250

Reaper Holdings Limited (Registered number: 10798381)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Reaper Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10798381

Registered office: Fairfield Enterprise Centre
Lincoln Way
Fairfield Industrial Estate
Louth
LN11 0LS

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Preparation of consolidated financial statements
The financial statements contain information about Reaper Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Reaper Holdings Limited (Registered number: 10798381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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

Financial assets and liabilities are offset, with 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 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 the transaction costs and are subsequently carried at amortised cost using the effective interest method 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
The company has no financial assets which are classified as other financial assets in these financial statements.

Impairment of financial assets
Financial assets 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 occuring 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.

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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


Reaper Holdings Limited (Registered number: 10798381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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.

Other financial liabilities
The company has no financial liabilities which are classified as other financial liabilities in these financial statements.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Going concern
During the year ended 30 November 2023 the company recorded a profit before tax of £36,474 (2022: profit before tax of £36,659) and at that date its net assets were £121,250 (2022: net assets of £84,776). The company is reliant upon the ongoing support of its director and group companies in order to meet its liabilities as they fall due. This support includes not demanding the repayment of outstanding loans and advancing new loans when required. On the basis of his review of forecasts and available data, the director considers the going concern basis of accounting to be appropriate for the business and in these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Reaper Holdings Limited (Registered number: 10798381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 December 2022
and 30 November 2023 1,300
NET BOOK VALUE
At 30 November 2023 1,300
At 30 November 2022 1,300

5. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Amounts owed by group undertakings 117,550 82,750

Amounts falling due after more than one year:
Amounts owed by group undertakings 39,500 39,500

Aggregate amounts 157,050 122,250

Amounts due from group undertakings that are due in less than one year relate to balances outstanding on management fees charged during the year.

Amounts due from group undertakings in more than one year relate to loans advanced to group undertakings which are unsecured, interest free and with no fixed repayment dates. The agreement provides for an initial loan term of ten years but with the option to extend or shortern this if circumstances change.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts (see note 8)
5,433

3,699
Directors' current accounts 1,794 1,794
7,227 5,493

Reaper Holdings Limited (Registered number: 10798381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£ £
Bank loans (see note 8) 29,892 33,976

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,845 15,357

On 11 November 2020, the company received a loan for £40,000 from Barclays Bank plc. The loan is unsecured and repayable in instalments over six years. During the financial year, the company took the option to extend the loan term to ten years. The interest rate is fixed at 2.5% per annum for the term of the loan and HM Government is committed to pay the first year of interest on behalf of the Company. HM Government has guaranteed 100% of the value of the loan.

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 961 -
Bounce Back Loan Due < 1 year 4,472 3,699
5,433 3,699

Amounts falling due between one and two years:
Bounce Back Loan Due 2-5 years 4,585 4,482

Amounts falling due between two and five years:
Bounce Back Loan >5 yrs 14,462 14,137

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,845 15,357

Reaper Holdings Limited (Registered number: 10798381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,300 Ordinary shares £1 1,300 1,300

10. RELATED PARTY TRANSACTIONS

Turnover of £37,800 for the year ended 30 November 2023 is in respect of management charges invoiced to subsidiary undertakings (2022: £37,800), of which £106,650 was outstanding at the year end and is included in debtors (2022: £78,100).

During 2020, an interest free loan of £4,750, which is repayable on demand, was advanced to subsidiary undertaking Network Armour Limited. The amount outstanding at 30 November 2023 was £4,750 (2022: £4,750) and is included in debtors at year end.

In November 2020, a loan of £37,000 was advanced to The Armour Group of Companies Limited and on 6 December 2020 a further £2,500 was advanced. The loan is interest free, unsecured and with no fixed repayment dates. The agreement provides for an initial loan term of ten years but with the option to extend or shortern this if circumstances change.

On 6 April 2019, the company's investment in subsidiary undertakings was transferred to The Armour Group of Companies Limited in a share for share exchange.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S J Green.