PLASTIPAK UK LTD

1. PLASTIPAK UK LTD 2015-07-27 → present
2. PLASTIPAK U.K., LTD. 2015-05-08 → 2015-07-27

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

Grant Thornton Chartered Accountants & Statutory Audit Firm

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After reviewing the Group's forecast and projections coupled with the ultimate parental financial support available and waived of loan repayment by the related party, the directors believe that the Group is well placed to manage its business risks successfully despite the current uncertain economic outlook, the directors are satisfied that the Group has adequate resources to continue in operational existence for the foreseeable future and therefore has adopted the going concern basis in preparing these financial statements.”

Group structure

1. PLASTIPAK UK LTD · parent
   1. Clean Tech UK Limited 100% · United Kingdom · production of polyethylene terephthalate (PET) resin manufactured from recycled consumer and industrial raw materials

Significant events

• “Rising inflation affects our business, as with any business in the global economy. The ongoing war in Ukraine has seen commodity and energy prices rise whilst the current cost of living crisis has lowered consumer demand.”
• “EPR (Extended Producer Responsibility) was introduced in 2024 and the government continues with plans to introduce DRS (Deposit Return Schemes). Plastics Packaging Tax came into effect on 1st April 2022 (applicable on all single use packaging with recycled content under 30%).”
• “During the year, the Group has made further capital expenditure of £3,470,000.”
• “The Group has made a loss before tax of £2.95 million for the year ended 31 October 2024, and as of that date, it has accumulated losses amounting to £20.9m.”
• “The immediate parent company injected an additional £23m of share capital during the year ending 31 October 2024, resultantly made the Group in net asset position.”
• “The parent company repaid £21.9m of loans during the year to the immediate parent company.”
• “The ultimate parent of the Group and the immediate parent company have also provided an unconditional guarantee to financially support the Group or the parent company in case of failing to meet its financial commitments for the period of at least 12 months from the date of these financial statements.”
• “Plastipak provides for Packaging Recovery Notes in the reference year to which they relate. The new Extended Producer Responsibility system was introduced in 2023 but the UK government delayed its full introduction until 19th December 2024 when The Producer Responsibility Obligations (Packaging and Packaging Waste) Regulations 2024 became law.”

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

2

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  -7.7%

  £190,075,000 → £175,423,000

• Cash

  +88.2%

  £170,000 → £320,000

• Net assets

  +1,522.2%

  -£1,284,000 → £18,261,000

• Employees

  -5.3%

  413 → 391

• Operating profit

  +56.4%

  -£2,916,000 → -£1,271,000

• Profit before tax

  +62.4%

  -£7,833,000 → -£2,946,000

• Wages

  +0.1%

  £18,324,000 → £18,349,000

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