Company No: 06731154 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

P K Ashford

REGISTERED OFFICE	Arran Cottage 6 The Row
	Aust
	Bristol
	BS35 4AY
	United Kingdom

COMPANY NUMBER

06731154 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor EQ Building
	111 Victoria Street
	Redcliffe
	Bristol
	BS1 6AX

	Note	2024		2023
		€		€
Current assets
Debtors	3	405,290		437,049
Cash at bank and in hand		218,776		187,272
		624,066		624,321
Creditors: amounts falling due within one year	4	( 624,065)		( 624,320)
Net current assets		1		1
Total assets less current liabilities		1		1
Net assets		1		1
Capital and reserves
Called-up share capital		1		1
Total shareholder's funds		1		1

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Reach R C Limited (registered number: 06731154) were approved and authorised for issue by the Director on 28 September 2025. They were signed on its behalf by:

P K Ashford Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Reach R C Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Arran Cottage 6 The Row, Aust, Bristol, BS35 4AY, England, United Kingdom.

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in EUR because the majority of the Company's trade is conducted in this currency.

Going concern

The financial statements have been prepared on a going concern basis. This assumes the continued support of the consortium members.

The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may significant cast doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover comprises costs incurred by the Company and recharged to consortium members. Costs incurred in relation to testing programmes are either forward funded, invoiced periodically or offset against amounts received by the Company in its capacity as agent. Where a testing programme is ongoing and sufficient funds are held, costs are built up in accrued income pending the final reconciliation of amounts due to/from each member.

All research conducted by the Company is on behalf of the consortium.

Turnover excludes additional sales of €41,981 (2023 - €62,467) where the Company acts as agent only.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to 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 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Debtors

	2024		2023
	€		€
Trade debtors	224		39,818
Accrued income	397,876		387,162
VAT recoverable	1,329		769
Other debtors	5,861		9,300
	405,290		437,049

Included within other debtors is an amount of €5,861 (2023 – €9,300) due from a company under common control. This loan is unsecured and is repayable on demand.

At the year end, a balance of €193,581 (2023 - €214,067) was owed to Reach R C Limited by the consortium in respect of income receivable in the company's capacity as agent on behalf of the consortium, which is included in prepayments and accrued income.

4. Creditors: amounts falling due within one year

	2024		2023
	€		€
Trade creditors	2,499		3,457
Accruals	621,566		618,443
Other creditors	0		2,420
	624,065		624,320

At the year end, a balance of €598,866 (2023 - €596,622) was held on behalf of the consortium in respect of income held in the capacity of agent, which is included in accruals and deferred income.