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REGISTERED NUMBER: 13688750 (England and Wales)











Audited Financial Statements

for the Year Ended 31 December 2023

for

Peute UK Limited

Peute UK Limited (Registered number: 13688750)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Peute UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Sir J P Van Den Heuvel





REGISTERED OFFICE: 2 New Street Square
London
EC4A 3BZ





REGISTERED NUMBER: 13688750 (England and Wales)





AUDITORS: Kings CAP Limited
Unit 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

Peute UK Limited (Registered number: 13688750)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 2,801,557 2,577,395
Cash at bank 135,989 243,997
2,937,546 2,821,392
CREDITORS
Amounts falling due within one year 5 2,917,106 2,796,372
NET CURRENT ASSETS 20,440 25,020
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,440

25,020

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings (4,560 ) 20
SHAREHOLDERS' FUNDS 20,440 25,020

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 June 2024 and were signed by:





Sir J P Van Den Heuvel - Director


Peute UK Limited (Registered number: 13688750)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Peute UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade for the foreseeable future. This assumption is dependent on the continued financial support provided by the parent undertaking, notably whilst the company is in its infancy of establishing its trade and working capital, accordingly, the director continues to adopt the going concern basis of preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Peute UK Limited (Registered number: 13688750)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Peute UK Limited (Registered number: 13688750)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,824,909 1,866,036
Other debtors 976,648 711,359
2,801,557 2,577,395

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,811,458 1,279,681
Amounts owed to group undertakings 823,150 969,815
Taxation and social security - 5
Other creditors 282,498 546,871
2,917,106 2,796,372

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sara Brown (Senior Statutory Auditor)
for and on behalf of Kings CAP Limited

7. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Peute Recycling International B.V..

Peute Recycling International B.V. of Baanhoekweg 4, Dordrecht, Zuid-Holland, Netherlands, 3313 LA (a company incorporated in The Netherlands) is regarded by the directors as being the ultimate controlling party by virtue of its controlling shareholding.