KEW SODA LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-02-20 (in 9mo)
Last made up 2026-02-06
Watchouts
None on the register
Cash
£7K
+900.4% vs 2023
Net assets
£1B
+0.3% vs 2023
Employees
7
0% vs 2023
Profit before tax
£4M
-94.3% vs 2023
Net assets
2-year trend · vs Basic Materials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | £74,271,312 | -£1,229,800 | |
| Profit before tax | £72,541,142 | £4,157,895 | |
| Net profit | £72,541,142 | £3,115,641 | |
| Cash | £741 | £7,413 | |
| Total assets less current liabilities | — | — | |
| Net assets | £1,202,065,234 | £1,205,183,099 | |
| Equity | £1,202,065,234 | £1,205,183,099 | |
| Average employees | 7 | 7 | |
| Wages | £789,474 | £1,172,721 |
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 |
|---|---|---|---|
| Gearing (liabilities / total assets) | 11.9% | 26.0% | |
| Current ratio | 0.79x | 0.00x | |
| Interest cover | 8.81x | -0.07x |
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
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have assessed the financial strength of the Company and its subsidiaries and have therefore determined that the Company has access to sufficient resources and liquidity to continue in operational existence and to meet its liabilities as they fall due until 31 December 2027. Accordingly, the financial statements have been prepared on the going concern basis.”
Group structure
- KEW SODA LTD · parent
- WE Soda Shipping Holdings Limited 100%
- WE Soda Enterprises Inc. 100%
- Şişecam Chemicals Resources LLC 40%
- Eti Soda Üretim Pazarlama Nakliyat ve Elektrik Üretim Sanayi ve Ticaret A.Ş. 74%
- Kazan Soda Elektrik Üretim A.Ş. 100%
- Ciner Kimya Yatırımları A.Ş. 100%
- We Soda Kimya Yatırımları A.Ş. 100%
- West Soda LLC (formerly TC Soda Holdings Inc.) 100%
- Imperial Natural Resources Trona Mining Inc. 100%
- WE Soda Investments Holding Plc 100%
- Soda World Ltd 100%
- Soda World Europe GmbH 100%
- WE İç ve Dış Ticaret A.Ş. 100%
- Denmar Depoculuk Nakliyat ve Ticaret A.Ş. 60%
- Global Glass Industries LLC 100%
- Pacific Soda LLC 40%
- Soda World US LLC 100%
- WE Soda Ltd 100%
Significant events
- “WE Soda and its subsidiaries has acquired Genesis Alkali ("Alkali"), the largest US-based producer of natural soda ash, from Genesis Energy LP (NYSE: GEL) ("GEL") in an all-cash transaction that has been completed on Friday 28 February 2025 at an implied enterprise value of $1.425 billion, inclusive of working capital at closing.”
- “Existing financial guarantee of Kew Soda to Ciner Glass Belgium has been ceased in August 2025 as a result of the new syndication loan granted for the investments of Ciner Glass Belgium Project. Kew Soda has also provided financial guarantee to this syndication loan in addition to a ring-fenced project finance collateral package just to provide a more competitive pricing for a greenfield project and to expedite the timeline.”
- “The Group has acquired 40% non-controlling interest of Denmar Türkiye on 7 March 2025 for a consideration of $9.5 million.”
- “WE Soda Ltd and its subsidiary WE Soda Investments Holding Plc, subsidiaries of Kew Soda Ltd, have entered into a $250 million private placement bond issuance dated on 20 February 2026, which settled on 5 March 2026.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 8 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SMALL, Jeremy | Secretary | 2023-05-24 | — | — |
| CINER, Ikbal Didem | Director | 2018-11-06 | Feb 1980 | Turkish |
| ERDOGAN, Mehmet Ali | Director | 2016-07-01 | Oct 1970 | British |
| HALL, Nicholas Rodney | Director | 2023-04-19 | Aug 1974 | British |
| TOHMA, Ahmet | Director | 2022-05-18 | Oct 1980 | Turkish |
| WARREN, Alasdair John | Director | 2022-05-18 | Jul 1966 | British |
Show 8 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ERDOGAN, Erdogan | Secretary | 2016-07-01 | 2022-05-26 |
| ERDOGAN, Mehmet Ali | Secretary | 2022-05-26 | 2023-05-24 |
| HOE-RICHARDSON, Samantha Jane | Director | 2023-02-08 | 2024-03-28 |
| KAINYAH, Rosalind Nana Emela | Director | 2023-02-08 | 2024-03-28 |
| KENYON-SLANEY, Harry James Rudolph | Director | 2023-02-08 | 2024-03-28 |
| USTA, Gursel | Director | 2022-05-18 | 2025-12-10 |
| WESTMACOTT, Peter John, Sir | Director | 2023-02-08 | 2024-03-28 |
| ÖZEN, Sait Ergun | Director | 2023-02-08 | 2024-03-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| We Industries Holdings Ltd | Corporate entity | Shares 50–75%, Voting 50–75% | 2024-10-15 | Active |
| Akkan Enerji Ve Madencilik As | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-07-01 | Ceased 2022-09-09 |
| Mr Turgay Ciner | Individual | Significant influence | 2016-07-01 | Active |
Filing timeline
Last 20 of 81 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-10-28 RESOLUTIONS Resolution
- 2024-10-28 MA Memorandum articles
- 2024-07-02 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-03-25 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-03-16 | AA | accounts | Accounts with accounts type full | |
| 2026-02-12 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-24 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-28 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-10-08 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | CH01 | officers | Change person director company with change date | |
| 2025-02-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-10-29 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-10-28 | SH01 | capital | Capital allotment shares | |
| 2024-10-28 | RESOLUTIONS | resolution | Resolution | |
| 2024-10-28 | MA | incorporation | Memorandum articles | |
| 2024-10-24 | SH08 | capital | Capital name of class of shares | |
| 2024-08-17 | AA | accounts | Accounts with accounts type group | |
| 2024-07-02 | RESOLUTIONS | resolution | Resolution | |
| 2024-04-05 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-05 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-05 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 2
- 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
—
Not reported
-
Cash
+900.4%
£741 £7,413
-
Net assets
+0.3%
£1,202,065,234 £1,205,183,099
-
Employees
0%
7 7
-
Operating profit
-101.7%
£74,271,312 -£1,229,800
-
Profit before tax
-94.3%
£72,541,142 £4,157,895
-
Wages
+48.5%
£789,474 £1,172,721
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