IP3 PLASTICS HOLDING COMPANY LIMITED
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Next accounts due
2025-12-31
Overdue
Confirmation statement due
2027-05-22 (in 1y)
Last made up 2026-05-08
Watchouts
Cash
£1M
-21.1% vs 2022
Net assets
-£4M
-1.3% vs 2022
Employees
245
-15.8% vs 2022
Profit before tax
£102K
+102% vs 2022
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Annual accounts overdue
Due 2025-12-31.
-
Material uncertainty over going concern
As referred to in the strategic report and note 2 to the accounts, a subsidiary company was under court order until December 2023 when the French court was satisfied with progress made, but it still has to carefully manage its debt. As a consequence, and given the group's balance sheet disclosing net liabilities of €4,817,199, a material uncertainty exist that that may cast doubt on the group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Name history
Renamed 1 time since incorporation
- IP3 PLASTICS HOLDING COMPANY LIMITED 2022-04-05 → present
- LYON PLASTICS ACQUISITION COMPANY LTD 2012-03-21 → 2022-04-05
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2023-12-31
| Metric | Trend | 2022-12-31 | 2023-12-31 |
|---|---|---|---|
| Turnover | £31,636,701 | £29,680,542 | |
| Operating profit | -£4,460,817 | £324,795 | |
| Profit before tax | -£5,206,429 | £101,840 | |
| Net profit | -£5,208,163 | £111,376 | |
| Cash | £1,292,283 | £1,019,063 | |
| Total assets less current liabilities | -£1,441,339 | -£855,793 | |
| Net assets | -£4,121,604 | -£4,175,797 | |
| Equity | -£4,121,604 | -£4,175,797 | |
| Average employees | 291 | 245 | |
| Wages | £6,785,158 | £5,993,135 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2022-12-31 | 2023-12-31 |
|---|---|---|---|
| Operating margin | -14.1% | 1.1% | |
| Net margin | -16.5% | 0.4% | |
| Return on capital employed | 309.5% | -38.0% | |
| Gearing (liabilities / total assets) | 124.9% | 131.2% | |
| Current ratio | 0.71x | 0.72x | |
| Interest cover | -17.27x | 0.94x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Ripe LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“As referred to in the strategic report and note 2 to the accounts, a subsidiary company was under court order until December 2023 when the French court was satisfied with progress made, but it still has to carefully manage its debt. As a consequence, and given the group's balance sheet disclosing net liabilities of €4,817,199, a material uncertainty exist that that may cast doubt on the group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”
Group structure
- IP3 PLASTICS HOLDING COMPANY LIMITED · parent
- IP3 Holding Kft. 100%
- IP3 Hungary Kft. 100%
- IP Real Estate Hungary Kft. 100%
- IP3 Portugal 100%
- IP3 Lyon SAS 100%
- IP3 Vendee SAS 100%
Significant events
- “Having been paced into Administration ("redressement judiciaire") in October 2022, a related party provided support to IP3 Vendee with a cash injection of €2m, which, together with the implementation of significant changes lead to the company returning to profitability. Such progress satisfied the court which ended the redressement judiciaire on December 6th 2023.”
- “A strong action plans was put in place at the end of the year 2022 which has been conducted and applied during all the year 2023, such as: management changes (new president, new CEO, new COO, new CFO), negotiation new prices with customers, the improvement in shop floor efficiency and review of all costs.”
- “On 10 January 2024, IP3 Vendée received €2 million from its shareholder in accordance with the commitment made in the continuation plan signed and validated by the La Roche-sur-Yon. Commercial Court on commitment made in the continuation plan signed and validated by the La Roche-sur-Yon Commercial Court on 4 October 2023.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| LEVIE, Leonard Maleson | Director | 2012-03-21 | Nov 1955 | American |
| ZHANG, Xiaodong | Director | 2012-03-21 | May 1967 | American |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Leonard Levie | Individual | Shares 75–100% | 2018-09-04 | Active |
Filing timeline
Last 20 of 40 total filings
Material constitutional events — rename, articles re-file, resolution
- 2022-04-05 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-06 | AA | accounts | Accounts with accounts type group | |
| 2025-04-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-30 | AA | accounts | Accounts with accounts type group | |
| 2024-04-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-17 | CH01 | officers | Change person director company with change date | |
| 2023-10-17 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2023-05-31 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-03-06 | AA | accounts | Accounts with accounts type group | |
| 2022-06-17 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2022-06-17 | CH01 | officers | Change person director company with change date | |
| 2022-05-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-04-05 | CERTNM | change-of-name | Certificate change of name company | |
| 2022-01-07 | AA | accounts | Accounts with accounts type group | |
| 2021-04-16 | CH01 | officers | Change person director company with change date | |
| 2021-03-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-01-12 | AA | accounts | Accounts with accounts type group | |
| 2020-04-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-03-27 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2020-03-27 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2022 → FY2023 · period ending 2023-12-31 vs 2022-12-31
-
Turnover
-6.2%
£31,636,701 £29,680,542
-
Cash
-21.1%
£1,292,283 £1,019,063
-
Net assets
-1.3%
-£4,121,604 -£4,175,797
-
Employees
-15.8%
291 245
-
Operating profit
+107.3%
-£4,460,817 £324,795
-
Profit before tax
+102%
-£5,206,429 £101,840
-
Wages
-11.7%
£6,785,158 £5,993,135
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