INSPIRE UPG UK LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +3.5%

  £16,164,736 → £16,728,948

• Cash

  -16.2%

  £1,300,922 → £1,089,882

• Net assets

  -62.3%

  £3,286,152 → £1,237,531

  first positive since 2022

• Employees

  +1.4%

  209 → 212

  highest in 6 filed years

• Operating profit

  +22.3%

  -£1,565,324 → -£1,215,783

• Profit before tax

  +13.4%

  -£1,956,617 → -£1,694,551

• Wages

  -20%

  £4,307,698 → £3,445,385

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Menzies LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“As at 31 December 2024, the Group had net current liabilities of £2,584,270 (2023: £1,328,152 net current assets), net assets of £1,237,531 (2023: £3,286,152) and made a loss for the year of £1,897,205 (2023: £1,809,374). The Group does not currently have any external borrowings as any finance required is provided by the parent company The Partner Companies LLC via an intercompany account. The Partner Companies LLC has confirmed it will continue to provide any financial support required for a period of at least twelve months from the signing of these financial statements. The financial statements have been prepared on a going concern basis which assumes the Group will continue in operational existence for the foreseeable future. In making their assessment the directors have reviewed the statement of financial position, the likely future cash flows of the business and have considered the facilities that are in place at the date of signing the report. At the time of approving the financial statements therefore, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis.”

Group structure

1. INSPIRE UPG UK LIMITED · parent
   1. SPM Plastics Limited 100% · United Kingdom
   2. United Plastic Group (Barbados) SRL* 100% · Barbados
   3. United Plastics Group (Suzhou) Co Ltd* 100% · China

Significant events

• “During the year, the Company operated a defined benefit pension scheme the assets and liabilities of which were transferred to Just Retirement Limited on 30 July 2024 and the scheme formally wound up on 16 December 2024.”
• “During the year ended 31 December 2024, it was identified that the investment held in Inspire UPG UK Limited had been incorrectly accounted for during the year-ended 31 December 2023. An adjustment has been made to correct the error of £1,845,670 and to correctly state the investment value. Additionally, it was identified that investments had been incorrectly translated historically resulting in investments being overstated by £980,169. An adjustment has been made to reduce investments by £980,169 with a corresponding impact to retained earnings of £980,169.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.