CINER GLASS LTD
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Cash
£209k
EUR 243,952
Latest balance sheet
Net assets
-£16m
EUR -18,640,176
lowest in 4 filed years
Employees
12
highest in 4 filed years
Profit before tax
-£10m
EUR -11,679,673
Period ending 2023-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
4-year trend · vs Industrials median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | — | — | — | £7,766 | — | |
| Operating profit | -£288,208 | -£1,273,466 | -£2,041,904 | -£9,174,166 | — | |
| Profit before tax | -£288,208 | -£1,287,185 | -£2,219,588 | -£10,003,146 | — | |
| Net profit | -£288,208 | -£1,287,185 | -£2,219,588 | -£10,003,146 | — | |
| Cash | £48,754 | £593,230 | £209,280 | £208,935 | — | |
| Total assets less current liabilities | -£360,019 | £4,521,075 | £2,171,238 | -£7,311,347 | — | |
| Net assets | -£360,019 | £4,107,621 | £1,888,033 | -£15,964,522 | — | |
| Equity | -£360,019 | £4,107,621 | £1,888,033 | -£15,964,522 | — | |
| Average employees | 3 | 5 | 8 | 12 | — | |
| Wages | £200,000 | £542,189 | £1,065,458 | £1,941,566 | — | |
| Directors' remuneration | — | — | — | £284,352 | — |
Figures converted to GBP from EUR at 0.856 per EUR (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. Year-on-year comparison hidden: this filing covers about 12 months versus 12 months prior. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Return on capital employed | — | -28.2% | -94.0% | — | |
| Gearing (liabilities / total assets) | — | — | — | 189.4% | |
| Current ratio | — | — | — | 0.04x | |
| Interest cover | — | -92.82x | -11.49x | -11.05x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have assessed the financial strength of the Group and have therefore determined that the Company has access to sufficient resources and liquidity to continue in operational existence and to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements have been prepared on the going concern basis.”
Group structure
- CINER GLASS LTD · parent
- Park Cam Sanayi ve Ticaret A. Ş. 79.92%
- Ciner Glass Belgium NV 100%
- Ciner Glass Property Limited 100%
- Ciner Glass Productions Limited 100%
Significant events
- “No change in the activities of the Group and the Company is planned for the foreseeable future.”
- “After 31 December 2025, the Company contributed an aggregate amount of €50 million to Ciner Glass Belgium NV in the form of subordinated loan. This contribution was funded by a loan from a related party.”
- “On 22 May 2026, the Company secured a €90 million loan facility. The loan will be repaid in a single balloon payment at the end of 2 years after withdrawn.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SMALL, Jeremy Peter | Secretary | 2023-09-18 | — | — |
| BASARAN, Cuneyt | Director | 2023-06-16 | Apr 1974 | British |
| CINER, Ikbal Didem | Director | 2019-05-01 | Feb 1980 | Turkish |
| ERDOGAN, Mehmet Ali | Director | 2019-05-01 | Oct 1970 | British |
| GULTEKIN, Nezahat | Director | 2025-06-23 | Mar 1975 | British |
| HALL, Nicholas Rodney | Director | 2023-09-18 | Aug 1974 | British |
| SEN, Gokhan | Director | 2026-03-09 | Feb 1983 | Turkish |
| TOHMA, Ahmet | Director | 2023-09-18 | Oct 1980 | Turkish |
| USTA, Gursel | Director | 2026-03-23 | Jan 1961 | Turkish |
| WARREN, Alasdair John | Director | 2023-09-18 | Jul 1966 | British |
| WESTMACOTT, Peter John, Sir | Director | 2022-01-01 | Dec 1950 | British |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| SEN, Gokhan | Director | 2023-09-18 | 2025-10-02 |
| USTA, Gursel | Director | 2023-11-13 | 2025-10-02 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tc Memo Holdings Ltd | Corporate entity | Shares 75–100%, Voting 75–100% | 2022-03-23 | Ceased 2022-09-12 |
| Mining, Minerals And Chemicals Ltd | Corporate entity | Shares 75–100%, Voting 75–100% | 2019-05-01 | Ceased 2020-08-25 |
| Mr Turgay Ciner | Individual | Shares 75–100%, Voting 75–100% | 2019-05-01 | Active |
Filing timeline
Last 20 of 53 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-11 | AA | accounts | Accounts with accounts type group | |
| 2026-03-25 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-09 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-03 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-11 | AAMD | accounts | Accounts amended with accounts type group | |
| 2025-08-22 | AA | accounts | Accounts with accounts type group | |
| 2025-08-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-08-12 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-08-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-25 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-14 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-04-14 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-04-14 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-02-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-17 | AA | accounts | Accounts with accounts type small |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 14
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.