Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
COMPANY INFORMATION
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SANITA UK LIMITED
CONTENTS
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SANITA UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The director presents their report in respect of the accounts for the year ended 31 December 2023.
The Sanita UK director is pleased to report another profitable year in line with their medium and long term strategy, vision and expected planned growth.
The Company continues the focus on its core business of wholesale distribution activities of plastics and paper packaging material in the UK, the rest of Europe, and expanding its activities globally on behalf of our Group’s affiliated companies. Sanita UK has successfully implemented a diversification strategy in sales during the past five years and will continue focusing on widening the scope of diversification to include more products and wider geographical coverage that will increase its sales volumes and serve our customers with the sustainable products that comes from our latest technology production lines. Sanita UK has also successfully introduced a procurement sector for the raw material to source and service the requirements of affiliated sister companies within Indevco and Napco Groups. This sector has been ongoing for the last three years and it has proven to be an added value to our Company’s portfolio of services. There has been a further focus on the geographical diversity of sales activities inside and outside of Europe, and on a global level to contribute to the Company’s planned growth, and to overcome any potential political and economic turbulences that may arise on a global level. The director considers that the Company will maintain further growth in the coming years. Our Group continues to invest in the latest technology of machines and production lines which will enable us to continue widening our offerings, and contribute to the European environmental schemes. Sanita UK will seek further growth in different market sectors and Geographical areas.
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SANITA UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Company’s director is certain that Sanita UK is capable to overcome any potential economic risks than in any time in the past. Sanita UK has managed to overcome all obstacles and challenges in the past years (Brexit, Covid Pandemic, and Economic challenges). The Company prides itself to be a member of Indevco group, and is supported by its global affiliated factories.
Sanita UK have been successful in being in a leading position to drive the sustainability initiatives taken by the government; the Company was a leader in offering products and packaging solutions that includes recycled contents of plastics and paper. For the third consecutive year we are proud to be FSC certified supplier. In the meantime, the Group has invested in four recycling facilities in Saudi Arabia and the Middle east where the products are being manufactured, these investments have enhanced Sanita UK’s sustainability image in the European market and allowed the company to become a leader in offering sustainable packaging products. The risks and uncertainties that are related to local or global factors allow the Company to capitalise on its position consistently within the affiliated group to continue generating positive profits; a profit level that allows the Company to grow and diversify further.
The director of Sanita UK continues to monitor closely and on a monthly basis the gross and net profit projected as the return on the growth of sales. The management will continue to meet monthly to discuss the Company’s income statement and management accounts, and to analyse and act on any deviations in terms of its profits, costs or unforeseen changes in its overheads. These meetings are followed by quarterly revisions to assess and provide guidance when needed.
The Company does not utilise other key performance indicators to measure its performance.
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SANITA UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The director of Sanita UK continues to monitor the Company’s performance and assess its position in terms of the Company’s market reputation and continue to promote its success factors.
Sanita UK as a large importer of plastics and paper packaging material focuses intensively on enhancing its market presence and what that brings from Environmental challenges. The Company’s sustainability reputation is a key focus for its success; Therefore, the company continues to promote its sustainability values, and has also been involved in many environmental projects in coordination with its affiliated manufacturing sites. The Company is in a direct registration with the Environment agency (EA) and discusses openly any activities that might promote the reputation of the company in the packaging field. As a large British firm, Sanita UK coordinates its environmental obligations directly with the EA, and consequently pays all related packaging recovery notes on an annual basis. Sanita UK is also registered with the HMRC for the Plastics Packaging Tax following the government’s guidance and commits to pay any plastics taxes for the imported goods that does not include 30% recycled contents in the UK. whilst, working intensively with our factories to pass the knowledge and the European sustainability requirements for our research and development laboratories in order to develop products that satisfy the European standards, by utilising higher percentage of recycled plastics contents. Our aim is to continue promoting Sanita UK’s name as a leading company with the desirability of maintaining high standards and reputation in all aspects of trading. As a part of a multinational group of companies, we continue to promote and enhance our working environment. The company has recruited and is still recruiting to enhance its sales force and customer services, and cover as many geographical markets as potentially possible. Sanita UK is a member of the Shropshire Chamber of Commerce, and also a member of Alpha scheme for HR consultancy. The director continues to assess their decisions and shares its vision transparently with its employees. The Company’s decisions whether being medium- or long-term plans are communicated and discussed openly with the employees. These decisions and following the continuous growth of the company are aimed only towards the interest of the employees and their wellbeing. In addition, we follow our Group’s social sustainability directives, and we support our factories in sourcing sustainably, and in obtaining multiple accreditation that reflect positively on the Group’s image and consequently Sanita UK. Our factories are Sedex, and Ecovades certified with policies covering ethnic diversity, inclusion, safe workplace, anti-corruption, child labour and non-discrimination. Our Group is taking part in the United Nations sustainable development goals. We aim to nurture the lives of our employees by offering reasonable benefits, in addition to contributing to our employees’ private pension scheme. We listen to change, and we follow our Head quarters’ Philosophy “what is good for the community is good for the company. What is good for the company, we will strive to do excellently and in away that enriches the lives of our people”.
This report was approved by the board and signed on its behalf.
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SANITA UK LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The director presents his report and the financial statements for the year ended 31 December 2023.
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £271,401 (2022 - £482,977).
No dividends are recommended to be paid from the current year.
The director who served during the year was:
Refer to the business review for details of future developments.
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SANITA UK LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Enhancing our relationship with our suppliers and customers has always been our focus. Our suppliers and customers are our esteemed partners. This strategy has always been the key success for the company. Our excellent relationship with our partners has contributed heavily to the success and the growth of the company.
The director and the management of Sanita UK execute frequent assessments for the services provided by the company, and the relationship we hold with our partners. Our Group’s head office measures the customers’ and suppliers’ satisfaction periodically through a survey that gets shared with customers directly, and randomly to continue assessing Sanita UK’s performance, and act promptly on any corrective actions required to improve our services.
The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.
There have been no significant events affecting the Company since the year end.
The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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SANITA UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF SANITA UK LIMITED
We have audited the financial statements of Sanita UK Limited (the 'Company') for the year ended 31 December 2023, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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SANITA UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF SANITA UK LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report.
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SANITA UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF SANITA UK LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, Employment Law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR). We understood how the Company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management, control testing across key accounting cycles and review of the systems in place, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.
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SANITA UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF SANITA UK LIMITED (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Belmont House
Shrewsbury Business Park
Shropshire
SY2 6LG
Date:
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SANITA UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
REGISTERED NUMBER: 03760771
BALANCE SHEET
AS AT 31 DECEMBER 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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SANITA UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Sanita UK Limited ('the Company') undertakes wholesale of packaging and converting products.
The Company is a private company limited by shares and is incorporated and domiciled in England. The address of its registered office is Suite 3, Sigma House, Hadley Park East, Telford, Shropshire, England, TF1 6QJ .
2.Accounting policies
The Company's forecasts and projections, taking account of reasonably possible changes in trading
performance, show that the company should be able to operate within the level of its current facilities. After making enquires, the Director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year.
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Turnover is attributable to sale of goods of £67,330,019 (2022: £77,733,379) and sale of services of £770,827 (2022: £760,373).
Analysis of turnover by country of destination:
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The company has taxable trading losses carried forward which will be relieved against future taxable trading profits.
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Profit and loss account
The ultimate parent undertaking is Cedars Intercontinental Corporation SAL (Holding), a company registered in Lebanon.
Cedars Intercontinental Corporation SAL (Holding) prepares group financial statements and copies can be obtained from their registered office at Jounieh, Athenee Building, Kesrouan Caza, Lebanon.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,457 (2022 - £22,948).
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SANITA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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