CENTRIFORCE PRODUCTS LIMITED

1. CENTRIFORCE PRODUCTS LIMITED 1997-06-13 → present
2. GLADLOYAL LIMITED 1997-04-09 → 1997-06-13

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

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In preparing the financial statements of the company, the Directors are required to prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue in business. In satisfaction of this responsibility the directors have considered the company's ability to meet its liabilities as they fall due for a period of at least twelve months from the signing date of the financial statements. This assessment has been made with reference to base case forecasts and assessing such forecasts against the requirements of the loan notes entered into following the acquisition of the group, which are held within Kenobi Bidco Limited, the sole shareholder of immediate parent company Plastic Recycling Limited. The loan notes require the satisfaction of debt servicing and gross leverage covenants, both of which are dependent on EBITDA based calculations. The base case forecasts indicate such covenants will be met. While the 2025 economic climate remains uncertain, based on the available information, the directors consider that the group has the resources to manage its business risks successfully, particularly as it operates within multiple markets and remains financially strong, and as such consider that there is no reasonably possible risk to the business not continuing to trade within the loan covenant requirements. Accordingly, the financial statements are prepared on a going concern basis.”

Significant events

• “In October 2024 the company was acquired by Rubicon Partners, a UK-focused Private Equity investor with a strong track record investing in and growing industrial and manufacturing businesses.”
• “On 21 October 2024, a share purchase agreement (SPA) was entered into whereby Kenobi Bidco Limited acquired the Group (by virtue of the acquisition of the entire issued share capital of Plastic Recycling Limited) from the selling shareholders. The total consideration payable by the Kenobi Bidco Limited was partly furnished by Plastic Recycling Limited granting a loan to Kenobi Bidco Limited on 21 October 2024 for an amount equal to £5,493,486.”
• “On 10 July 2025 it was confirmed that the rights and obligations of Plastic Recycling Limited under this Acquisition Loan Agreement were novated to Centriforce Products Limited pursuant to the terms of the Deed of Novation.”
• “On 10 July 2025, a final dividend amounting to the sum of the outstanding amount of the loan, was declared by Plastic Recycling Limited in favour of Kenobi Bidco Limited as the sole shareholder of Plastic Recycling Limited.”
• “on 3 July 2025 Centriforce Products Limited, declared a dividend of the same value (£5,494,486) to Plastic Recycling Limited, being the sole shareholder in Centriforce Products Limited.”
• “Further on 10 July 2025, each Party acknowledged a set-off agreement, such that the liability of (i) Kenobi Bidco Limited to pay the Centriforce Products Limited receivable; (ii) Centriforce Products Limited to pay the Plastic Recycling Limited receivable; and (iii) Plastic Recycling Limited to pay the Kenobi Bidco Receivable, such that all receivables against the original loan agreement of £5,493,486, matched by intercompany balances created by unpaid dividends declared, shall be reduced to nil, with the Loan Agreement and unpaid dividends being deemed to automatically terminate and indebtedness contemplated thereunder shall be considered fully and finally satisfied.”

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

1

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.