Imerys UK Finance Limited

Contents

Balance Sheet	1
Statement of Changes in Equity	2
Notes to the Financial Statements	3 to 7

Imerys UK Finance Limited

Balance Sheet

31 December 2024

	Note	2024 US$ 000	2023 US$ 000
Current assets
Debtors	4	45,482	41,949
Cash at bank and in hand		444	426
		45,926	42,375
Creditors: Amounts falling due within one year	5	(1,900)	(904)
Net assets		44,026	41,471
Capital and reserves
Profit and loss account		44,026	41,471
Shareholders' funds		44,026	41,471

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 12 September 2025
 

......................................... C Boulier Director

Company Registration Number: 07701960

Imerys UK Finance Limited

Statement of Changes in Equity

Year Ended 31 December 2024

	Share capital US$ 000	Profit and loss account US$ 000	Total US$ 000
At 1 January 2024	-	41,471	41,471
Profit for the year	-	2,555	2,555
At 31 December 2024	-	44,026	44,026

	Share capital US$ 000	Profit and loss account US$ 000	Total US$ 000
At 1 January 2023	-	42,190	42,190
Loss for the year	-	(719)	(719)
At 31 December 2023	-	41,471	41,471

Imerys UK Finance Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Par Moor Centre
Par Moor Road
Par
Cornwall
PL24 2SQ

These financial statements were authorised for issue by the director on 12 September 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The functional currency is US dollars as the company provides finance to US subsidiaries. This is the same as the presentational currency.

Name of parent of group

The smallest group that these financial statements are consolidated into is the financial statements of Imerys SA. The financial statements of Imerys SA can be obtained from the following address:

The Company Secretary
Imerys SA
43 Quai de Grenelle
75015 Paris
France.

Imerys UK Finance Limited

Notes to the Financial Statements

Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Going concern

Imerys UK Finance Limited is a holding company that does not trade but receives interest income annually, and is in a net asset position with few liabilities. The ultimate parent company, Imerys SA, group 2024 accounts were prepared on a going concern basis with no material uncertainties identified. Similarly, Imerys SA quarterly results up to March 2025 did not identify any additional risks and the adjusted EBITDA is slightly lower than quarter one 2024. As a result, the directors have prepared these financial statements on a going concern basis.

Finance income and costs policy

Interest receivable and payable is recognised on an accruals basis using the effective interest method.

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 rates prevailing on the initial transaction dates.

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

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 corporation 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 on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Imerys UK Finance Limited

Notes to the Financial Statements

Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Financial instruments

Classification
The company holds the following financial instruments:

• Short term other debtors and creditors; and
• Intercompany loans.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for intercompany loans, instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Intercompany loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Debtors

	Note	2024  US$ 000	2023  US$ 000
Amounts due from group undertakings	7	44,041	41,415
Other debtors		1,441	534
		45,482	41,949
		45,482	41,949

Details of non-current trade and other debtors

US$Nil (2023: US$Nil) of loans to related parties are classified as non current.

Imerys UK Finance Limited

Notes to the Financial Statements

Year Ended 31 December 2024 (continued)

5

Creditors

	Note	2024 US$ 000	2023 US$ 000
Due within one year
Amounts due to group undertakings	7	1,900	904

6	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No. 000	US$ 000	No. 000	US$ 000
Ordinary shares of US$1 each	-	-	-	-

Ordinary shares of $1 (2023 - $1).

7	Related party transactions

The Company has taken advantage of the exemption provided by FRS 102 paragraph 33.1A to not disclose transactions entered in to between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

8	Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Martin Hobbs, who signed for and on behalf of PKF Francis Clark on 17 September 2025.

Imerys UK Finance Limited

Notes to the Financial Statements

Year Ended 31 December 2024 (continued)

9	Parent and ultimate parent undertaking

The company's immediate parent is Imerys UK Limited, incorporated in the United Kingdom.

 The ultimate parent is Imerys SA, incorporated in France.

 The most senior parent entity producing publicly available financial statements is Imerys SA. These financial statements are available upon request from

The Company Secretary
Imerys SA
43 Quai de Grenelle
75015 Paris
France

 The ultimate controlling party is Parjointco SA.