HARPER TOPCO LIMITED

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

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on the going concern basis. During the year the group made a total comprehensive loss of $2,263,996 (2023: total comprehensive income of $261,081), and at the reporting date had net current liabilities of $412,195 (2023: assets $965,826). In assessing the appropriateness of the going concern basis, the directors have taken account revenue projections and cash flow forecasts along with the existing credit facility that provides sufficient liquidity headroom covering a period of at least twelve months from the date of approval of the financial statements and beyond.”

Group structure

1. HARPER TOPCO LIMITED · parent
   1. JMJ Associates LLP 55% · Consulting services
   2. JMJ Associates LLC 55% · Consulting services
   3. JMJ Associates Limited 55% · Consulting services
   4. JMJ Associates Africa (Pty) Limited 55% · Consulting services
   5. JMJ Associates Limited Middle East 55% · Consulting services
   6. J2M Associates Nigeria Limited* 55% · Consulting services
   7. JMJ Associates Canada ULC 55% · Consulting services
   8. JMJ Associates Asia Pacific (Pte.) Ltd. 55% · Consulting services
   9. Downey Holdings Limited 55% · Holding company
   10. JMJ Investments LLC 100% · Investment company
   11. The School of Coaching Limited 55% · Consulting services
   12. JMJ Associates India Private Limited 55% · Consulting services
   13. JMJ Associates Shanghai Ltd 55% · Consulting services

Significant events

• “The company undertook a significant restructuring in the fourth quarter of 2024 which significantly reduced its cost base to drive improved profitability.”
• “The group decreased its employee headcount from 126 in 2023 to 121 by December 2024 primarily due to decreased demand for services during the year as part of a restructuring that included a further significant reduction in headcount in early 2025.”
• “On 17 May 2024 J2M Associates Nigeria Limited was dissolved.”
• “On December 10, 2024, the group executed an eighth amendment to the Chase Agreement which revised the terms of the Fixed Charge Coverage covenant due to the impacts of a global restructuring including associated severance costs and the additional equity investment.”
• “On September 30, 2025, the group executed a ninth amendment to the Chase Agreement (9th Amended Chase Agreement). The Amendment reduced the borrowing base to $3,000,000 and added a Liquidity Covenant in addition to the Fixed Charge Coverage covenant.”

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

Filings

5

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

  -9.3%

  £25,636,706 → £23,250,587

• Cash

  -42.4%

  £1,823,559 → £1,050,010

• Net assets

  -126.8%

  £1,456,892 → -£390,973

• Employees

  -4%

  126 → 121

• Operating profit

  -117.6%

  £1,249,576 → -£219,707

• Profit before tax

  -131.1%

  £1,112,411 → -£345,647

• Wages

  +0.4%

  £13,928,319 → £13,981,723

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