Sioen UK Limited 1871440 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is the sale of thermal flotation suits Digita Accounts Production Advanced 6.30.9574.0 true true 1871440 2021-01-01 2021-12-31 1871440 2021-12-31 1871440 bus:OrdinaryShareClass1 2021-12-31 1871440 bus:PreferenceShareClass1 2021-12-31 1871440 core:RetainedEarningsAccumulatedLosses 2021-12-31 1871440 core:ShareCapital 2021-12-31 1871440 core:CurrentFinancialInstruments 2021-12-31 1871440 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 1871440 bus:SmallEntities 2021-01-01 2021-12-31 1871440 bus:Audited 2021-01-01 2021-12-31 1871440 bus:FullAccounts 2021-01-01 2021-12-31 1871440 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 1871440 bus:RegisteredOffice 2021-01-01 2021-12-31 1871440 bus:Director5 2021-01-01 2021-12-31 1871440 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 1871440 bus:PreferenceShareClass1 2021-01-01 2021-12-31 1871440 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 1871440 1 2021-01-01 2021-12-31 1871440 countries:Belgium 2021-01-01 2021-12-31 1871440 countries:England 2021-01-01 2021-12-31 1871440 2020-01-01 2020-12-31 1871440 2020-12-31 1871440 bus:OrdinaryShareClass1 2020-12-31 1871440 bus:PreferenceShareClass1 2020-12-31 1871440 core:RetainedEarningsAccumulatedLosses 2020-12-31 1871440 core:ShareCapital 2020-12-31 1871440 core:CurrentFinancialInstruments 2020-12-31 1871440 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 1871440

Sioen UK Limited

Formerly known as Mullion Survival Technology Limited

Filleted Financial Statements

for the Year Ended 31 December 2021

 

Sioen UK Limited

(Registration number: 1871440)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Debtors

4

1,893,227

1,723,932

Cash at bank and in hand

 

338,892

338,947

 

2,232,119

2,062,879

Creditors: Amounts falling due within one year

5

(776,824)

(1,063,461)

Net assets

 

1,455,295

999,418

Capital and reserves

 

Called up share capital

6

160,000

160,000

Retained earnings

1,295,295

839,418

Shareholders' funds

 

1,455,295

999,418

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 15 August 2022 and signed on its behalf by:
 


Mrs M D A Sioen
Director

   
 

Sioen UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1

General information

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

The address of its registered office is:
c/o James Dewhurst Ltd
Altham Lane
Altham
Accrington
Lancashire
BB5 5YA

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 United Kingdom 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 accounts are shown in GBP and are rounded to the nearest pound.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 15 August 2022 was John Heeney BA FCA, who signed for and on behalf of RNS Chartered Accountants.

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 sales/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.

Government grants

Government grants are recognised in the profit and loss account so that the income is matched with the costs to which they relate.

 

Sioen UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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 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 temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. 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.

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.

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 at the transaction price. 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.

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 at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Sioen UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

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 8 (2020 - 8).

4

Debtors

2021
£

2020
£

Trade debtors

1,459,994

1,562,033

Amounts owed by group undertakings

433,233

161,899

 

1,893,227

1,723,932

5

Creditors

2021
£

2020
£

Due within one year

Trade creditors

115,130

16,248

Taxation and social security

604,788

988,751

Other creditors

56,906

58,462

776,824

1,063,461

 

Sioen UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

6

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

130,000

130,000

130,000

130,000

8% non-cumulative preference shares of £1 each

30,000

30,000

30,000

30,000

 

160,000

160,000

160,000

160,000

7

Parent and ultimate parent undertaking

The company's immediate parent is Sioen Industries n.v., incorporated in Belgium.

 The ultimate controlling party is Sioen Industries n.v.
 

The parent of the largest group in which these financial statements are consolidated is Sioen Industries n.v, incorporated in Belgium.

The address of Sioen Industries n.v is:
Fabriekstraat 23
B-8850
Ardooie
Belgium