POLYNT COMPOSITES UK LIMITED

1. POLYNT COMPOSITES UK LIMITED 2023-12-29 → present
2. REICHHOLD UK LIMITED 1997-11-14 → 2023-12-29
3. JOTUN POLYMER (U.K.) LIMITED 1986-10-31 → 1997-11-14
4. GLARELANCE LIMITED 1986-09-03 → 1986-10-31

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

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis which the Directors consider to be appropriate for the following reasons. The Company generated profit after tax of £7.2m (2023: £12.4m profit), had net current assets of £31.3m (2023: £31.9m) and had net assets of £43.9m (2023: £43.4m). The Company has no third-party or related party borrowings and is funded through its operations. The Directors have prepared cash flow forecasts for a period up to 30 November 2026 which indicate that, taking account of reasonably possible downsides the Company will have sufficient funds to meet its liabilities as they fall due for that period. Under this more cautious scenario, trading was consistent with the level management had seen in FY24 and additional inflationary increase of costs had been applied. In each of the scenarios positive cash flows were generated and there were no indicators that additional working capital injection or any new borrowing facilities will be required. The Company is part of a cash pooling arrangement which is operated by intermediate parent company, Speciality Chemicals Holding II BV. The Company has received a letter of support which confirms that the parent will support the Company to meets its liabilities as and when they fall due if money is not otherwise available for a period of 12 months from when the financial statements are authorised for issue. Consequently, the directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for a period of 12 months from when the financial statements are authorised for issue and therefore have prepared the financial statements on a going concern basis.”

Significant events

• “Following a reorganization of our group at the end of 2023, the entire trade, assets, and liabilities of a fellow group company, Polynt Composites UK II Limited, was transferred at book value, effective 1 January 2024. The company had a loan note of £23,381k for the purchase of Polynt Composites UK II. This value plus interest was declared as a dividend in the purchased company and novated to the shareholders. The shareholders subscribed to purchase shares to the value of £24,443k and subsequently released the company from the loan note.”

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

1

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

  +49.3%

  £49,403,000 → £73,765,000

• Cash

  +2,110.6%

  £217,000 → £4,797,000

• Net assets

  +117.7%

  £20,173,000 → £43,913,000

• Employees

  +131.6%

  38 → 88

• Operating profit

  +356.6%

  £2,239,000 → £10,224,000

• Profit before tax

  +303.9%

  £2,551,000 → £10,304,000

• Wages

  +163.3%

  £1,650,000 → £4,344,000

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