Pigments manufacturer Silberline Limited recorded closure costs of £278,086 in its final year of trading, on top of £3,372,148 in the previous year, according to accounts filed at Companies House. The Scottish-registered company, whose registered office is in Edinburgh, closed its Leven plant when it ceased trading at the end of 2025.
The company, which made high quality special effect and performance pigments for coatings, paints, inks, plastics and textiles, ceased trading on 31 December 2025 following the decision to close its Leven plant. Its strategic report says the company is expected to be formally wound up during 2026.
The accounts for the year to 31 December 2025 say the exceptional costs in the year comprised redundancy and settlement payments, lease and service contract termination charges, legal and professional fees, environmental and decommissioning costs, and consultancy fees incurred as part of the planned cessation of the company’s operations. The company also recorded a closure costs reversal of £492,597 within other operating income.
Sales for the year were £13,564,121, compared with £13,654,303 in 2024. The company made a gross loss of £2,367,398 and a pre-tax loss of £2,077,372, against a pre-tax loss of £10,287,658 the year before.
The average number of people employed by the company, including directors, was 81 in 2025, 70 of them in production. The figure for 2024 was 100.
A restructuring provision of £1,661,063 remained at the year end, down from £3,315,896 at the start of 2025. The accounts say it relates to redundancy costs and the termination of equipment lease rentals arising from the planned wind-down and dissolution of the company, which management expects to complete by the end of 2026.
After the year end, on 20 February 2026, the company agreed to dispose of its manufacturing site and certain associated assets for £1,110,000, plus VAT where applicable, net of agreed transaction costs. The accounts describe the disposal as consistent with management’s intention to realise the company’s remaining assets and complete the winding-up of the company.
Because the directors intend to cease trading and apply for voluntary strike-off, the financial statements have been prepared on a basis other than going concern. The auditor drew attention to this as an emphasis of matter, without modifying its opinion.
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Silberline Limited’s immediate parent is Silberline Manufacturing Company Inc, incorporated in the United States of America. Its ultimate controlling party is ALTANA Chemie Beteiligungs GmbH.
