REGISTERED NUMBER: 13688750 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PEUTE UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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 Ltd

Statutory Auditor

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

FIXED ASSETS

Tangible assets

4

3,628

-

CURRENT ASSETS

Debtors

5

4,419,499

2,801,557

Cash at bank

56,697

135,989

4,476,196

2,937,546

CREDITORS

Amounts falling due within one year

6

4,291,648

2,917,106

NET CURRENT ASSETS

184,548

20,440

TOTAL ASSETS LESS CURRENT LIABILITIES

188,176

20,440

PROVISIONS FOR LIABILITIES

7

689

-

NET ASSETS

187,487

20,440

CAPITAL AND RESERVES

Called up share capital

8

25,000

25,000

Retained earnings

162,487

(4,560

)

SHAREHOLDERS' FUNDS

187,487

20,440

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 4 September 2025 and were signed by:

Sir J P Van Den Heuvel - Director

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

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 2 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

Additions

3,887

At 31 December 2024

3,887

DEPRECIATION

Charge for year

259

At 31 December 2024

259

NET BOOK VALUE

At 31 December 2024

3,628

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

3,642,308

1,824,909

Other debtors

79,543

488,441

Value added tax

697,648

487,133

Deferred tax asset

-

1,074

4,419,499

2,801,557

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,528,060

1,811,458

Amounts owed to group undertakings

2,191,675

823,150

Taxation

53,451

-

Other creditors

-

6,700

Accruals

518,462

275,798

4,291,648

2,917,106

7.	PROVISIONS FOR LIABILITIES

31.12.24

£

Deferred tax

Accelerated capital allowances

689

Deferred

tax

£

Balance at 1 January 2024

(1,074

)

Charge to Statement of Income and Retained Earnings during year

1,763

Balance at 31 December 2024

689

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

25,000

Ordinary

£1

25,000

25,000

9.	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 Ltd

10.	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.

11.	ULTIMATE CONTROLLING PARTY

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

Peute Recycling International B.V. of Rapenburg 2, Alblasserdam, Zuid-Holland, Netherlands, 2952 AP (a company incorporated in The Netherlands) is regarded by the directors as being the ultimate controlling party by virtue of its controlling shareholding.