Registration number: 02958511

Container Components Europe Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 10

Container Components Europe Limited

Company Information

Directors

KR Richmond L R Bull M A Moore P B Dickson

Registered office

Oak Park Ryelands Lane Elmley Lovett Droitwich Worcestershire WR9 0QZ

Auditors

Clement Rabjohns Limited Registered Auditors and Chartered Accountants111/113 High Street Evesham Worcestershire WR11 4XP

Container Components Europe Limited

(Registration number: 02958511)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	4,554	4,554
Tangible assets	5	168,899	197,688
		173,453	202,242
Current assets
Stocks	6	756,654	1,001,097
Debtors	7	3,236,061	2,315,849
Cash at bank and in hand		15,279	73,625
		4,007,994	3,390,571
Creditors: Amounts falling due within one year	8	(1,647,004)	(1,689,570)
Net current assets		2,360,990	1,701,001
Total assets less current liabilities		2,534,443	1,903,243
Creditors: Amounts falling due after more than one year	8	-	(11,583)
Provisions for liabilities		(21,893)	(34,009)
Net assets		2,512,550	1,857,651
Capital and reserves
Called up share capital		610	610
Capital redemption reserve		80	80
Retained earnings		2,511,860	1,856,961
Shareholders' funds		2,512,550	1,857,651

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 June 2025 and signed on its behalf by:
 

......................................... L R Bull Director

Container Components Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Oak Park
Ryelands Lane
Elmley Lovett
Droitwich
Worcestershire
WR9 0QZ
United Kingdom

These financial statements were authorised for issue by the Board on 2 June 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Container Components Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 2 June 2025 was Philip Parsons FCA, who signed for and on behalf of Clement Rabjohns Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Container Components Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold buildings	2% straight line
Machinery & equipment	15% - 20% straight line
Other tangible fixed assets	20% straight line
Computer equipment	20% - 50% straight line
Moulds	15% - 20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Container Components Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average costing method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

A stock provision is included for all stock which is 12 months old, excluding those specific stock items that have been purchased for a specific job or customer.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Container Components Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 44 (2023 - 40).

4	Intangible assets

	Goodwill  £	Trademarks, patents and licenses  £	Internally generated software development costs  £	Total £
Cost or valuation
At 1 January 2024	29,005	588,097	9,120	626,222
At 31 December 2024	29,005	588,097	9,120	626,222
Amortisation
At 1 January 2024	29,005	583,543	9,120	621,668
At 31 December 2024	29,005	583,543	9,120	621,668
Carrying amount
At 31 December 2024	-	4,554	-	4,554
At 31 December 2023	-	4,554	-	4,554

Container Components Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Stocks

	2024 £	2023 £
Raw materials and consumables	465,483	678,630
Finished goods and goods for resale	291,171	322,467
	756,654	1,001,097

7

Debtors

Current	Note	2024 £	2023 £
Trade debtors		661,040	942,899
Amounts owed by related parties		2,254,373	960,051
Prepayments		199,258	200,487
Other debtors		121,390	212,412
		3,236,061	2,315,849

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	418,516	508,320
Trade creditors		725,308	843,638
Amounts owed to group undertakings and undertakings in which the company has a participating interest		154,142	60,000
Taxation and social security		268,633	153,641
Accruals and deferred income		71,632	118,524
Other creditors		8,773	5,447
		1,647,004	1,689,570

Creditors include confidential invoice discount factoring and net obligations under finance lease and hire purchase contracts which are secured of £418,516 (2023 - £508,320).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	-	11,583

Creditors include net obligations under finance lease and hire purchase contracts which are secured of nil (2023 - £11,583).

Container Components Europe Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	-	11,583

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	414,543	499,407
Hire purchase contracts	3,973	8,913
	418,516	508,320

Bank borrowings

Invoice discounting facility is denominated in GBP with a nominal interest rate of 2.5%, and the facility is continual with no set repayment date . The carrying amount at year end is £414,543 (2023 - £499,407). The facility is secured against the trade debtor book.

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	235,516	237,131
Later than one year and not later than five years	909,760	917,836
Later than five years	2,824,047	3,051,487
	3,969,323	4,206,454

The amount of non-cancellable operating lease payments recognised as an expense during the year was £236,029 (2023 - £241,125).

11	Parent and ultimate parent undertaking

The company's immediate parent is Egbert Taylor Holdings Limited, incorporated in the United Kingdom.

 The ultimate parent is IEG Parent L.I, incorporated in the United States of America.

 The most senior parent entity producing publicly available financial statements is Egbert Taylor Holdings Limited.The ultimate controlling party is Aurora Capital Partners.