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REGISTERED NUMBER: 00723045 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

REAPER LIMITED

REAPER LIMITED (REGISTERED NUMBER: 00723045)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REAPER LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: R J T A Bracewell
J H G A Bracewell
M V Powys



SECRETARY: R J T A Bracewell



REGISTERED OFFICE: The Albert Suite
Unit 2 Revolution Park
Buckshaw Avenue, Buckshaw Village
Chorley
Lancashire
PR7 7DW



REGISTERED NUMBER: 00723045 (England and Wales)



SENIOR STATUTORY AUDITOR: Anthony Mills FCA



AUDITORS: ma2 Limited
Chartered Accountants and Statutory Auditor
5 Crescent East
Thornton Cleveleys
Lancashire
FY5 3LJ

REAPER LIMITED (REGISTERED NUMBER: 00723045)

BALANCE SHEET
31 January 2024

31.1.24 31.1.23
Notes £    £   
CURRENT ASSETS
Stocks 6 7,374,063 7,125,733
Debtors 7 8,996,499 8,771,272
Cash at bank 120,116 35,450
16,490,678 15,932,455
CREDITORS
Amounts falling due within one year 8 644,874 618,896
NET CURRENT ASSETS 15,845,804 15,313,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,845,804

15,313,559

CREDITORS
Amounts falling due after more than one
year

9

187,500

312,500
NET ASSETS 15,658,304 15,001,059

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 15,657,304 15,000,059
SHAREHOLDERS' FUNDS 15,658,304 15,001,059

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:





R J T A Bracewell - Director


REAPER LIMITED (REGISTERED NUMBER: 00723045)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Reaper 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.

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


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.

Preparation of consolidated financial statements
The financial statements contain information about Reaper Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, GA Pet Food Partners Group Limited, The Albert Suite, Unit 2 Revolution Park, Buckshaw Avenue, Buckshaw Village, Chorley, Lancashire, PR7 7DW.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value.


Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. They are recognised when the company becomes party to the contractual provisions of the instrument.

The following assets and liabilities are classified as basic financial instruments - cash at bank, debtors : amounts falling due within one year and creditors : amounts falling due within one year. They are measured at the transaction price less any known impairment, unless the arrangement indicates otherwise, in which case they would be measured at the present value of the future receipts discounted at the market rate of interest.

Bank loan, and loan from the company's own retirement benefits scheme payable after more than one year are classified as basic financial instruments in accordance with FRS 102 and are also measured at the transaction price less any known impairment.


REAPER LIMITED (REGISTERED NUMBER: 00723045)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
Pension payments, when made, are to the company's self administered scheme as recommended by the Scheme's advisers. The pension scheme is a defined benefits scheme. Contributions payable for the year are charged in the profit and loss account where applicable.

Pension costs
Pension payments, when made, are to the Company's self administered scheme as advised by the Scheme's advisers. The pension scheme is a funded defined benefits scheme. Contributions for the year are charged in the profit and loss account where applicable. The scheme's surplus referred to later in the notes to the financial statements mean that there is no need for future contributions to the scheme.

Revenue recognition
Turnover is recognised when a contract for the sale of property becomes unconditional.

Rents receivable are recognised when under the terms of a lease agreement rental receipts become due on an accruals basis.

Bank deposit interest is recognised when it is receiveable.

Other interest is accounted for on an accruals basis relating to interest receivable during the period.

Investments in subsidiaries and associates
Investments in subsidiaries and associates are accounted for at cost less impairments.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

REAPER LIMITED (REGISTERED NUMBER: 00723045)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 8,460
DEPRECIATION
At 1 February 2023
and 31 January 2024 8,460
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

6. STOCKS
31.1.24 31.1.23
£    £   
Stock of land 7,374,063 7,125,733

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Amounts owed by group undertakings 8,700,000 8,555,000
Other debtors 62,502 193
R2 Co-owner loan 190,575 160,472
Prepayments and accrued income 43,422 55,607
8,996,499 8,771,272

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 250,000 250,000
Tax 204,879 135,899
Social security and other taxes 282 11,922
Other creditors 189,713 221,075
644,874 618,896

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 187,500 250,000
Bank loans - 2-5 years - 62,500
187,500 312,500

REAPER LIMITED (REGISTERED NUMBER: 00723045)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 437,500 562,500

The bank loans referred to in notes 9 and 10 relate to the company's share of its ownership in a property held in trading stock. The company's bankers have a first legal charge over the property.

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

The Report of the Auditors was unqualified.

Anthony Mills FCA (Senior Statutory Auditor)
for and on behalf of ma2 Limited

12. EMPLOYEE BENEFIT OBLIGATIONS

The company operates a defined benefit pension scheme.

No contributions were made during the year and none are envisaged due to the surplus of the scheme.

The scheme rules prohibit the return of the surplus therefore no pension asset is recognised on the balance sheet. No allowance is therefore made in these accounts for recovery of the excess assets on the grounds that they are not recoverable by this company, the sponsoring employer.

Value of scheme assets and liabilities

20242023
££
Market value of assets15,123,085 14,499,381
Present value of scheme liabilities (210,000) (245,000)
Surplus in scheme14,913,08514,254,381

Net pension asset14,913,08514,254,381



Movement in deficit during the year

20242023
££
Deficit in scheme at end of year --


The valuation method used to determine the present value of scheme liabilities was carried out by the scheme's professional advisers using a simplified approach relying upon data provided by the company to determine how much a lifetime annuity would cost on the open market replicating the scheme's pensions in payment and on the assumption of the schemes members being in good health.

REAPER LIMITED (REGISTERED NUMBER: 00723045)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


13. RELATED PARTY DISCLOSURES

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

14. ULTIMATE CONTROLLING PARTY

On 31 August 2021, 59% of the Company's voting share capital was acquired by GA Pet Food Partners Group Limited.

Mr R.J.T.A. Bracewell is considered by the directors to be the ultimate controlling party by virtue of his control of the voting share capital of GA Pet Food Partners Group Limited.