REGISTERED NUMBER: |
Financial Statements |
for the Period 17 April 2023 to 31 January 2024 |
for |
Semtech UK Holdings Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Other reserves |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
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 |
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 |
Impairments | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
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: |
Registered office: 13811 Wireless Way, Richmond, British Columbia, V6V 3A4 |
Nature of business: |
% |
Class of shares: | holding |
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 |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |