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REGISTERED NUMBER: 14809207 (England and Wales)













Financial Statements

for the Period 17 April 2023 to 31 January 2024

for

Semtech UK Holdings Limited

Semtech UK Holdings Limited (Registered number: 14809207)






Contents of the Financial Statements
for the Period 17 April 2023 to 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Semtech UK Holdings Limited

Company Information
for the Period 17 April 2023 to 31 January 2024







DIRECTOR: J T Gutierrez





SECRETARY: J T Gutierrez





REGISTERED OFFICE: 12 New Fetter Lane
London
EC4A 1JP





REGISTERED NUMBER: 14809207 (England and Wales)





AUDITORS: Villars Hayward LLP
Chartered Accountants,
Chartered Tax Advisers and Statutory Auditors
Boston House
Henley-on-Thames
RG9 1DY

Semtech UK Holdings Limited (Registered number: 14809207)

Statement of Financial Position
31 January 2024

Notes $    $   
FIXED ASSETS
Investments 4 137,497,000

CURRENT ASSETS
Cash at bank 12,704

CREDITORS
Amounts falling due within one year 5 12,577
NET CURRENT ASSETS 127
TOTAL ASSETS LESS CURRENT LIABILITIES 137,497,127

CAPITAL AND RESERVES
Called up share capital 1,399
Share premium 73,503
Other reserves 137,422,225
SHAREHOLDERS' FUNDS 137,497,127

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 January 2025 and were signed by:





J T Gutierrez - Director


Semtech UK Holdings Limited (Registered number: 14809207)

Notes to the Financial Statements
for the Period 17 April 2023 to 31 January 2024

1. STATUTORY INFORMATION

Semtech UK Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the US Dollar ($).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention.

Financial assets and liabilities
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price when there is a legal or constructive obligation committing the company to that expenditure. Creditors are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost..

Loans payable are measured initially at fair value, net of transaction costs, and non-current loans payable are subsequently remeasured to amortised cost using the effective interest method, less any impairment.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

At the end of each reporting period investments in subsidiaries are assessed for impairment. If an investment is deemed to be impaired, the investment in the subsidiary is reduced to its fair value and an impairment charge is recognised in the income statement. Where a reversal of a previous impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.

Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern which the directors consider appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. FIXED ASSET INVESTMENTS
Other
investments
$   
COST
Additions 334,888,680
Impairments (197,391,680 )
At 31 January 2024 137,497,000
NET BOOK VALUE
At 31 January 2024 137,497,000

Semtech UK Holdings Limited (Registered number: 14809207)

Notes to the Financial Statements - continued
for the Period 17 April 2023 to 31 January 2024

4. FIXED ASSET INVESTMENTS - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Sierra Wireless ULC
Registered office: 13811 Wireless Way, Richmond, British Columbia, V6V 3A4
Nature of business:
%
Class of shares: holding
Ordinary 100.00

On 1 July 2024 PriceWaterhouseCoopers completed a valuation of certain Legal Entities of Sierra Wireless Inc as at 30 October 2023.

As a result of this detailed analysis the value of Sierra Wireless Inc. was deemed to be $137,497,000. An impairment has therefore been recognised in these financial statements totalling $197,391,680.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
$   
Amounts owed to group undertakings 12,577

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John A D Preston (Senior Statutory Auditor)
for and on behalf of Villars Hayward LLP

7. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Semtech Corporation registered in the USA. Copies of the financial statements may be obtained from 200 Flynn Road, Camarillo, California, United States, 93012.