RAI EUROPE LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-20 (in 6mo)
Last made up 2025-11-06
Watchouts
None on the register
Cash
£620K
+50.9% vs 2023
Net assets
£2M
-18.7% vs 2023
Employees
16
-30.4% vs 2023
Profit before tax
-£510K
+67.5% vs 2023
Name history
Renamed 1 time since incorporation
- RAI EUROPE LTD 2024-12-23 → present
- POLYDIST EUROPE HOLDINGS LIMITED 2015-12-02 → 2024-12-23
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £36,005,000 | £28,815,000 | |
| Operating profit | -£1,569,000 | -£137,000 | |
| Profit before tax | -£1,571,000 | -£510,000 | |
| Net profit | -£1,393,000 | -£510,000 | |
| Cash | £411,000 | £620,000 | |
| Total assets less current liabilities | £2,325,000 | £1,890,000 | |
| Net assets | £2,325,000 | £1,890,000 | |
| Equity | £2,325,000 | £1,890,000 | |
| Average employees | 23 | 16 | |
| Wages | £1,042,000 | £843,000 |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -4.4% | -0.5% | |
| Net margin | -3.9% | -1.8% | |
| Return on capital employed | -67.5% | -7.2% | |
| Current ratio | 1.10x | 1.09x | |
| Interest cover | -3.35x | -0.37x |
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
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The ability of the Company to operate as a going concern is inextricably linked to the ability to the Group headed by the company to continue to operate as a going concern... directors believe this facility will be extended beyond October 2025... projections... shown that the company will have enough cash reserves and available financing facilities in order to operate as a going concern... board believe there is sufficient evidence that the Group has the ability to meet its obligations, as and when they fall due, for the foreseeable future and as such the going concern basis of preparation is appropriate.”
Group structure
- RAI EUROPE LTD · parent
- RAI Polymers UK Ltd 100%
- Polydist Benelux B.V. 100%
- Polydist Deutschland GmbH 100%
Significant events
- “The company has been rebranded as RAI Europe Ltd (formerly Polydist Europe Holdings Limited) from 23rd December 2024.”
- “The 2024 figures also reflect the reduction in turnover in relation to the disposal of Polydist Turkey in December 2023 which was a positive move for the group and will allow management to focus on the core business going forward.”
- “The company sold its investment in Polydist Turkey on 31 December 2023 to World of Polymers FZCO for £1,137,000.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| AL NAQEEB, Said | Director | 2017-11-14 | Jul 1955 | Kuwaiti |
| AL NAQEEB, Tareq | Director | 2017-11-14 | Jan 1985 | Kuwaiti |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| SMITH, Maria | Secretary | 2016-04-26 | 2020-06-30 |
| BRADWELL, Richard Francis George | Director | 2015-12-02 | 2022-06-10 |
| CONTREIRAS RODRIGUES NETO, Eduardo | Director | 2022-01-27 | 2025-08-27 |
| ROTH, Henry Frederick | Director | 2015-12-02 | 2022-01-27 |
| YAMINE, Germene Gerges | Director | 2017-08-29 | 2024-10-09 |
| PLASTCHEM LIMITED | Corporate Director | 2015-12-02 | 2016-01-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Said Al Naqeeb | Individual | Shares 50–75%, Voting 50–75%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 47 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-23 CERTNM Certificate change of name company
- 2024-12-23 CONNOT Change of name notice
- 2024-11-20 RESOLUTIONS Resolution
- 2024-11-20 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-09 | AA | accounts | Accounts with accounts type group | |
| 2025-09-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-23 | CERTNM | change-of-name | Certificate change of name company | |
| 2024-12-23 | CONNOT | change-of-name | Change of name notice | |
| 2024-12-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-20 | RESOLUTIONS | resolution | Resolution | |
| 2024-11-20 | MA | incorporation | Memorandum articles | |
| 2024-10-23 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-26 | AA | accounts | Accounts with accounts type group | |
| 2024-03-26 | CH01 | officers | Change person director company with change date | |
| 2024-03-26 | CH01 | officers | Change person director company with change date | |
| 2024-02-13 | CH01 | officers | Change person director company with change date | |
| 2023-12-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-15 | AA | accounts | Accounts with accounts type group | |
| 2022-12-14 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-06-28 | AA | accounts | Accounts with accounts type group | |
| 2022-06-10 | TM01 | officers | Termination director company with name termination date | |
| 2022-02-09 | AP01 | officers | Appoint person director company with name date | |
| 2022-02-09 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-20%
£36,005,000 £28,815,000
-
Cash
+50.9%
£411,000 £620,000
-
Net assets
-18.7%
£2,325,000 £1,890,000
-
Employees
-30.4%
23 16
-
Operating profit
+91.3%
-£1,569,000 -£137,000
-
Profit before tax
+67.5%
-£1,571,000 -£510,000
-
Wages
-19.1%
£1,042,000 £843,000
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