BINDER BIDCO LIMITED

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

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have not identified any material uncertainties around the going concern assumptions and have reasonable expectation that the group has adequate resources to continue its operational existence for a period of at least twelve months from signing these financial statements. Thus they continue to adopt the going concern basis for accounting in preparing the annual financial statements.”

Group structure

1. BINDER BIDCO LIMITED · parent
   1. RBMR Topco Limited 100% · England · Holding company
   2. Raymond Brown Minerals and Recycling Limited 100% · England · Provision of support services to the Raymond Brown Group
   3. Fortis IBA Limited 100% · England · Incinerator bottom ash processing
   4. Fortis IBA Holdco Limited 100% · England · Holding company
   5. Fortis IBA (Calvert) Limited 100% · England · Dormant company
   6. Fortis IBA (South East) Limited 100% · England · Development of an IBA processing site and incinerator bottom ash processing
   7. Fortis IBA (Scotland) Limited 100% · Scotland · Dormant company

Significant events

• “On 17 November 2025 Elysian Capital II LP sold the majority of its investment in Raymond Brown New Topco Limited to Elysian Capital CV I LP. As part of the change of ownership on 14 November 2025, the group has agreed a new Senior Debt facility with Lloyds.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

7

last 24 months

Officers appointed

0

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

  +52.8%

  £974,274 → £1,488,534

• Cash

  -68.4%

  £5,514,880 → £1,740,521

• Net assets

  +106.4%

  -£38,921,322 → £2,500,486

• Employees

  +3.6%

  111 → 115

• Operating profit

  -217,477.8%

  £5,093 → -£11,071,049

• Profit before tax

  +181.6%

  -£20,059,206 → £16,372,424

• Wages

  +69%

  £739,685 → £1,249,702

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