WITH REACH UK LTD

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. WITH REACH UK LTD 2018-03-22 → present
2. GOINTERPAY LIMITED 2013-04-29 → 2018-03-22

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

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.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Group or the Company or to cease their operations, and as they have concluded that the Group and the Company's financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over their ability to continue as a going concern for at least a year from the date of approval of the financial statements ("the going concern period").”

Group structure

1. WITH REACH UK LTD · parent
   1. Reach Ltd. 100% · Canada
   2. With Reach (USA) LLC 100% · USA
   3. With Reach (Australia) Pty Ltd 100% · Australia
   4. With Reach (EU) Limited OU 100% · Estonia
   5. With Reach UK Services Ltd 100% · England
   6. Barrel Marketing Ltd. 100% · Canada

Significant events

• “In November 2024 the Company was in breach of the adjusted EBITDA covenant on its convertible loan, causing the debt to be classified as short term on November 30, 2024.”
• “Subsequent to November 30, 2024 the convertible loan was extinguished (note 24).”
• “Subsequent to November 30, 2024 the SAFE Notes were extinguished (note 24).”
• “On February 18, 2025 the Company and its shareholders entered into a securities purchase agreement with a third party buyer (With Reach Buyer Inc., the "Buyer") domiciled in the United States of America, resulting in a change of control of With Reach UK Ltd and its subsidiaries (the "Transaction"). The Buyer is controlled by Primus Capital.”
• “As part of the Transaction, all of the issued and outstanding shares of the Company's subsidiary, With Reach USA LLC, were transferred to the Buyer for proceeds of GBP 67,349 resulting in a nominal gain on disposal.”
• “In connection with the Transaction, the Promissory Notes and SAFE Notes were extinguished by the Buyer for an aggregate extinguishment payment of GBP6,931,997 and the Company recognized a corresponding amount due to the Buyer equal to the extinguishment payment.”
• “As part of the Transaction, all of the Company's outstanding options and warrants were cancelled and its RSUs fully settled. There were no material payments made to the holders of the Company's options and warrants. The RSUs were settled for aggregate cash payments to the holders of USD $626,308 (GBP 473,295).”
• “Subsequent to November 30, 2024, the Company entered into a credit agreement with ATB Financial, a Canadian bank, providing for a CAD $20 million (GBP10,829,700) non-revolving facility and a $500,000 (GBP 270,743) operating facility (collectively, the "ATB Loans").”
• “On February 18, 2025, the non-revolving facility was fully advanced and the proceeds were used to extinguish the Company's Convertible Loan for aggregate proceeds of USD $14.7 million (GBP 11,108,658).”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +52.2%

  £24,275,207 → £36,942,779

• Cash

  -9.8%

  £14,006,907 → £12,632,540

• Net assets

  -46.7%

  -£10,886,644 → -£15,970,539

• Employees

  +21.1%

  90 → 109

• Operating profit

  +93.7%

  -£1,742,019 → -£110,276

• Profit before tax

  -22.9%

  -£4,442,903 → -£5,458,686

• Wages

  +13.1%

  £6,661,804 → £7,534,010

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers