IRIS Accounts Production v24.3.2.46 03892289 Board of Directors 1.1.24 31.12.24 31.12.24 Medium entities the provision of waste disposal containers. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038922892023-12-31038922892024-12-31038922892024-01-012024-12-31038922892022-12-31038922892023-01-012023-12-31038922892023-12-3103892289ns15:EnglandWales2024-01-012024-12-3103892289ns14:PoundSterling2024-01-012024-12-3103892289ns10:Director12024-01-012024-12-3103892289ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3103892289ns10:MediumEntities2024-01-012024-12-3103892289ns10:Audited2024-01-012024-12-3103892289ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3103892289ns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3103892289ns10:FullAccounts2024-01-012024-12-3103892289ns10:OrdinaryShareClass12024-01-012024-12-3103892289ns10:Director22024-01-012024-12-3103892289ns10:Director32024-01-012024-12-3103892289ns10:CompanySecretary12024-01-012024-12-3103892289ns10:RegisteredOffice2024-01-012024-12-3103892289ns5:CurrentFinancialInstruments2024-12-3103892289ns5:CurrentFinancialInstruments2023-12-3103892289ns5:Non-currentFinancialInstruments2024-12-3103892289ns5:Non-currentFinancialInstruments2023-12-3103892289ns5:ShareCapital2024-12-3103892289ns5:ShareCapital2023-12-3103892289ns5:RetainedEarningsAccumulatedLosses2024-12-3103892289ns5:RetainedEarningsAccumulatedLosses2023-12-3103892289ns5:ShareCapital2022-12-3103892289ns5:RetainedEarningsAccumulatedLosses2022-12-3103892289ns5:ShareCapital2023-01-012023-12-3103892289ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3103892289ns5:ShareCapital2024-01-012024-12-3103892289ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-3103892289ns5:LeaseholdImprovements2024-01-012024-12-3103892289ns5:PlantMachinery2024-01-012024-12-3103892289ns5:FurnitureFittings2024-01-012024-12-3103892289ns5:ReportableOperatingSegment12024-01-012024-12-3103892289ns5:ReportableOperatingSegment12023-01-012023-12-3103892289ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2024-01-012024-12-3103892289ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2023-01-012023-12-3103892289ns15:UnitedKingdom2024-01-012024-12-3103892289ns15:UnitedKingdom2023-01-012023-12-3103892289ns15:Europe2024-01-012024-12-3103892289ns15:Europe2023-01-012023-12-3103892289ns15:SouthAmerica2024-01-012024-12-3103892289ns15:SouthAmerica2023-01-012023-12-3103892289ns15:Asia2024-01-012024-12-3103892289ns15:Asia2023-01-012023-12-3103892289ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2024-01-012024-12-3103892289ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2023-01-012023-12-3103892289ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2024-01-012024-12-3103892289ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-01-012023-12-3103892289ns5:OwnedAssets2024-01-012024-12-3103892289ns5:OwnedAssets2023-01-012023-12-310389228912024-01-012024-12-310389228912023-01-012023-12-3103892289ns5:LeaseholdImprovements2023-12-3103892289ns5:PlantMachinery2023-12-3103892289ns5:FurnitureFittings2023-12-3103892289ns5:LeaseholdImprovements2024-12-3103892289ns5:PlantMachinery2024-12-3103892289ns5:FurnitureFittings2024-12-3103892289ns5:LeaseholdImprovements2023-12-3103892289ns5:PlantMachinery2023-12-3103892289ns5:FurnitureFittings2023-12-3103892289ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3103892289ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3103892289ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-12-3103892289ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-12-3103892289ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3103892289ns5:WithinOneYear2024-12-3103892289ns5:WithinOneYear2023-12-3103892289ns5:BetweenOneFiveYears2024-12-3103892289ns5:BetweenOneFiveYears2023-12-3103892289ns5:MoreThanFiveYears2024-12-3103892289ns5:MoreThanFiveYears2023-12-3103892289ns5:AllPeriods2024-12-3103892289ns5:AllPeriods2023-12-3103892289ns10:OrdinaryShareClass12024-12-3103892289ns5:RetainedEarningsAccumulatedLosses2023-12-31
REGISTERED NUMBER: 03892289 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

CONTENUR (UK) LIMITED

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


CONTENUR (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: I Querejeta
N A Kavanagh
E D V Mejía





SECRETARY: C J Graham





REGISTERED OFFICE: Image Business Park
Acornfield Road
Knowsley Industrial Estate
Knowsley
Merseyside
L33 7UF





REGISTERED NUMBER: 03892289 (England and Wales)





AUDITORS: Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2024


The directors present their strategic report for the year ended 31st December 2024.

The company is part of the worldwide Contenur group which was established in 1984. For 24 years, Contenur UK has been at the forefront of the UK waste industry and is now the leading supplier of commercial waste & recycling containers to a diverse range of markets. Since our inception in December 1999, Contenur has consistently made significant contributions to the UK waste container sector. Working closely with our partners we have led the way with innovative and creative product solutions in a fast-moving industry.

Our mission is to design, manufacture, commercialise and maintain urban waste containers, that improve the quality of life, sustainability and the appearance of towns and cities.

REVIEW OF BUSINESS
The principal activity of the company in the year of review was that of the manufacture and sales of waste containers.

Key performance indicators
Metric 2024 2023
Turnover £'000 20,123 16,887
Gross profit £'000 3,159 1,240
Gross profit percentage 15.70% 7.35%

The business strategy continues with its development of its first UK manufacturing hub which officially opened September 2021 and since opening there has been a sharp increase in trading activity, not only in the municipal sector but also with respect to private collections.

The directors are pleased with the results of the year as the company continues its growth phase within the UK market, experiencing an increase in revenue of £3.24m (19.17%) to £20.12m. The aim is to continue this upward trajectory in revenues. Gross profit has increased by £1.92m during the year and overall a small profit has been generated, compared with previous year losses.

The following factors has influenced the improvement in performance:

- Growth in the sector of local authorities in the UK;
- Increase in the number of commercial customers;
- Increase in the export markets in Ireland, France, Nordics and South America;
- Reorganisation and enhancement of the commercial team in the UK;
- Reorganisation and enhancement of the Administration and Human Resources;
- Improvement in the utilisation rate of the industrial unit;
- Incorporation of new tools to increase product portfolio in the UK;
- Transition to 24/7 manufacturing in the previous year; and
- Slight decrease in the cost of materials and energy.


PRINCIPAL RISKS AND UNCERTAINTIES
The commercial risks and uncertainties faced by the company include the general decline in the economic climate leading to a decrease in commercial waste sector activity, government policies on municipal expenditure, competition, increases in the cost of raw materials due to geopolitical uncertainties, volatility of energy and transport prices. The directors and wider management team monitors these risks in order to respond and react to changes in the marketplace.

The company finances their operations through a mixture of working capital and inter-group loans.

FINANCIAL RISK MANAGEMENT
The company operations expose it to a variety of financial risks that include the effects of credit, currency, interest rate and liquidity risk. The directors actively manage these risks by monitoring levels of risk and related costs of mitigating these.


CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2024

EMPLOYEES
The directors continue to develop employees using both external and in house resources. The company continues to appraise all systems to actively promote equality, well-being at the workplace, integration of people with different capacities, employee training, professional development and the prevention of occupational risks.

FUTURE DEVELOPMENTS
Innovation is at the forefront of our ideology, we aim to achieve this through the investment into our products and manufacturing facilities, our current development aims are:
- Develop products with lower waste collection costs;
- Develop products that help its clients improve recycling rates and the quality of recoverable material;
- Develop products that are gradually more environmentally-friendly, from manufacturing to client supply,
reusing them at the end of their life-cycle;
- Improving energy efficiency within the manufacturing process; and
- Progress in utilising materials coming from containers at the end of their working life to manufacture new
products.

ON BEHALF OF THE BOARD:





N A Kavanagh - Director


27th February 2025

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31st December 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31st December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report.

I Querejeta
N A Kavanagh

Other changes in directors holding office are as follows:

E D V Mejía - appointed 11th January 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2024


AUDITORS
The auditors, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





N A Kavanagh - Director


27th February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CONTENUR (UK) LIMITED


Opinion
We have audited the financial statements of Contenur (UK) Limited (the 'company') for the year ended 31st December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
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 UK, including the FRC'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.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CONTENUR (UK) LIMITED


Matters on which we are required to report by exception
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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CONTENUR (UK) LIMITED


Auditors' responsibilities for the audit of the financial statements
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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and the nature of the sector in which it operates, we have identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006 and tax legislation. We have evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to inappropriate journal entries, improper application of revenue cut-off procedure, management bias in accounting estimates and judgements, inappropriate disclosure of related party transactions and improper use of the going concern basis. Our audit procedures designed to address these risks included, but were not limited to:

- Enquiries with management, regarding any known or suspected instances of non-compliance with laws and
regulations, and fraud;
- Agreement of the financial statement disclosures to the underlying supporting documentation;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of
material misstatement due to fraud;
- Challenging assumptions and judgements made by management in particular within their significant accounting
estimates and going concern assessments;
- Revenue year end cut-off procedures;
- Obtaining an understanding of internal controls relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
internal controls;
- Auditing the risk of management override of controls, including through the testing of journal entries and other
adjustments for appropriateness.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment by misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CONTENUR (UK) LIMITED


Use of our 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 a Report of the Auditors 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.




Mark Sunter (Senior Statutory Auditor)
for and on behalf of Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

27th February 2025

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST DECEMBER 2024

31.12.24 31.12.23
Notes £    £   

TURNOVER 3 20,123,053 16,886,591

Cost of sales 16,963,789 15,646,123
GROSS PROFIT 3,159,264 1,240,468

Administrative expenses 3,053,478 2,647,391
OPERATING PROFIT/(LOSS) 5 105,786 (1,406,923 )

Interest receivable and similar income 847 -
106,633 (1,406,923 )

Interest payable and similar expenses 6 329,306 374,589
LOSS BEFORE TAXATION (222,673 ) (1,781,512 )

Tax on loss 7 (292,009 ) (485,722 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

69,336

(1,295,790

)

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

69,336

(1,295,790

)

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

BALANCE SHEET
31ST DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 6,637,539 6,539,395

CURRENT ASSETS
Stocks 9 1,276,193 1,043,380
Debtors 10 2,127,456 2,767,622
Cash at bank 911,311 774,510
4,314,960 4,585,512
CREDITORS
Amounts falling due within one year 11 8,431,101 8,393,940
NET CURRENT LIABILITIES (4,116,141 ) (3,808,428 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,521,398

2,730,967

CREDITORS
Amounts falling due after more than one
year

12

1,803,048

3,081,953
NET ASSETS/(LIABILITIES) 718,350 (350,986 )

CAPITAL AND RESERVES
Called up share capital 16 5,650,000 4,650,000
Retained earnings 17 (4,931,650 ) (5,000,986 )
SHAREHOLDERS' FUNDS 718,350 (350,986 )

The financial statements were approved by the Board of Directors and authorised for issue on 27th February 2025 and were signed on its behalf by:





N A Kavanagh - Director


CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st January 2023 250,000 (3,705,196 ) (3,455,196 )

Changes in equity
Issue of share capital 4,400,000 - 4,400,000
Total comprehensive income - (1,295,790 ) (1,295,790 )
Balance at 31st December 2023 4,650,000 (5,000,986 ) (350,986 )

Changes in equity
Issue of share capital 1,000,000 - 1,000,000
Total comprehensive income - 69,336 69,336
Balance at 31st December 2024 5,650,000 (4,931,650 ) 718,350

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2024

31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,999,872 387,420
Interest paid (329,306 ) (374,589 )
Tax paid 292,009 969,005
Net cash from operating activities 1,962,575 981,836

Cash flows from investing activities
Purchase of tangible fixed assets (633,180 ) (208,749 )
Interest received 847 -
Net cash from investing activities (632,333 ) (208,749 )

Cash flows from financing activities
Loan repayments in year (1,193,441 ) (725,410 )
Net cash from financing activities (1,193,441 ) (725,410 )

Increase in cash and cash equivalents 136,801 47,677
Cash and cash equivalents at beginning of
year

2

774,510

726,833

Cash and cash equivalents at end of year 2 911,311 774,510

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24 31.12.23
£    £   
Loss before taxation (222,673 ) (1,781,512 )
Depreciation charges 535,036 516,612
Finance costs 329,306 374,589
Finance income (847 ) -
640,822 (890,311 )
(Increase)/decrease in stocks (232,813 ) 112,544
Decrease/(increase) in trade and other debtors 640,166 (1,143,771 )
Increase in trade and other creditors 951,697 2,308,958
Cash generated from operations 1,999,872 387,420

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 911,311 774,510
Year ended 31st December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 774,510 726,833


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank and in hand 774,510 136,801 911,311
774,510 136,801 911,311
Debt
Debts falling due within 1 year (1,487,840 ) (85,464 ) (1,573,304 )
Debts falling due after 1 year (3,081,953 ) 1,278,905 (1,803,048 )
(4,569,793 ) 1,193,441 (3,376,352 )
Total (3,795,283 ) 1,330,242 (2,465,041 )

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Contenur (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.

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" 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 the directors consider to be appropriate for the reasons below.

The directors have performed a going concern assessment for the company for a period of at least 12 months from the date of approval of these financial statements which indicate that the company will have sufficient funds through funding from its parent company, Contenur SL, to meet its liabilities as they fall due for that period.

The going concern assessment for the company is dependent on Contenur SL not seeking repayment of the amounts currently due, except in instances where the company has sufficient liquidity to make such payments, and providing additional financial support during that period, where necessary. The directors have conducted an assessment of the financial position of Contenur SL and concluded that it had both the ability and intent to provide financial support to the company.

Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

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.

The company's results are included within the consolidated financial statements of its parent company, Contenur SL, whose registered office is 3 Calle Torneros, Poligono Industrial Los Angeles, Getafe, Madrid, Spain, 28906.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Revisions to accounting estimates are recognised in the period in which the estimate is revised. The following are the key sources of estimation uncertainty:

Useful life of plant and machinery
The useful economic life of plant and machinery is assessed at the point of purchase using a combination of information, such as manufactures manuals, prior history of similar assets and external market data. The useful life of existing assets are monitored and reassessed where necessary.

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the period of the lease
Plant and machinery - 33% on cost and 6.66% on cost
Fixtures and fittings - 33% on cost and 6.66% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Raw materials are valued at their cost price on a first in, first out basis. Finished goods are valued at the manufactured cost price plus attributable overheads, less provision for any known or anticipated losses.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

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.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction the financial asset or liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as financial instruments:

Trade debtors, trade creditors, and inter group balances (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in profit and loss.


CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.12.24 31.12.23
£    £   
Waste containers 20,123,053 16,886,591
20,123,053 16,886,591

An analysis of turnover by geographical market is given below:

31.12.24 31.12.23
£    £   
United Kingdom 16,396,886 12,478,708
Europe 3,458,916 3,479,855
South America 267,251 893,723
Asia - 34,305
20,123,053 16,886,591

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


4. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 2,837,339 2,524,551
Social security costs 258,147 214,804
Other pension costs 81,247 58,167
3,176,733 2,797,522

The average number of employees during the year was as follows:
31.12.24 31.12.23

Directors 3 2
Sales 9 8
Administration 6 6
Production 42 33
60 49

31.12.24 31.12.23
£    £   
Directors' remuneration 114,995 109,008
Directors' pension contributions to money purchase schemes 8,685 8,567

5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

31.12.24 31.12.23
£    £   
Hire of plant and machinery 248,138 501,206
Other operating leases 54,301 46,833
Depreciation - owned assets 535,036 516,612
Auditors' remuneration 12,850 12,850

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Group interest payable 329,306 374,589

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


7. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
Overprovided in prior periods (292,009 ) (485,722 )
Tax on loss (292,009 ) (485,722 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
£    £   
Loss before tax (222,673 ) (1,781,512 )
Loss multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

(55,668

)

(338,487

)

Effects of:
Expenses not deductible for tax purposes 10,137 5,003
Research and development tax credit (292,009 ) (485,722 )
(Decrease)/increase in tax losses carried forwards 45,531 333,484

Total tax credit (292,009 ) (485,722 )

8. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st January 2024 31,712 7,587,608 163,033 7,782,353
Additions - 603,242 29,938 633,180
At 31st December 2024 31,712 8,190,850 192,971 8,415,533
DEPRECIATION
At 1st January 2024 3,376 1,215,049 24,533 1,242,958
Charge for year 1,889 522,027 11,120 535,036
At 31st December 2024 5,265 1,737,076 35,653 1,777,994
NET BOOK VALUE
At 31st December 2024 26,447 6,453,774 157,318 6,637,539
At 31st December 2023 28,336 6,372,559 138,500 6,539,395

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


9. STOCKS
31.12.24 31.12.23
£    £   
Raw materials 1,107,581 747,011
Finished goods 168,612 296,369
1,276,193 1,043,380

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 1,850,267 2,221,258
Amounts owed by group undertakings 36,650 313,487
Other debtors - 189
Prepayments and accrued income 240,539 232,688
2,127,456 2,767,622

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other loans (see note 13) 1,573,304 1,487,840
Trade creditors 1,609,996 1,581,936
Amounts owed to group undertakings 4,632,189 4,561,271
VAT 215,400 109,294
Other creditors 6,084 -
Accruals and deferred income 394,128 653,599
8,431,101 8,393,940

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Other loans (see note 13) 1,803,048 3,081,953

13. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Other loans 1,573,304 1,487,840

Amounts falling due between one and two years:
Other loans - 1-2 years 1,606,451 1,475,501

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


13. LOANS - continued
31.12.24 31.12.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 196,597 1,606,452

Other loans are amounts due the to a parent company, Contenur S.L.

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 681,590 513,394
Between one and five years 2,616,497 1,930,690
In more than five years 3,262,000 3,728,000
6,560,087 6,172,084

Included in the leasing agreements is £5,592,000 (2023: £6,058,000), which has been entered into jointly with the parent company, Contenur SL.

15. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax
Accelerated capital allowances 1,636,392 1,227,302
Losses to carry forward (1,636,392 ) (1,227,302 )
- -

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
5,650,000 Ordinary £1 5,650,000 4,650,000
(31.12.23 - 4,650,000 )

17. RESERVES
Retained
earnings
£   

At 1st January 2024 (5,000,986 )
Profit for the year 69,336
At 31st December 2024 (4,931,650 )

CONTENUR (UK) LIMITED (REGISTERED NUMBER: 03892289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


18. ULTIMATE PARENT COMPANY

Contenur S.L. (incorporated in Spain ) is regarded by the directors as being the company's ultimate parent company.

The group consolidated accounts are publicly available in Spain.