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REGISTERED NUMBER: 01871440 (England and Wales)















Sioen UK Limited

Financial Statements

for the Year Ended 31 December 2024






Sioen UK Limited (Registered number: 01871440)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sioen UK Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: M Sioen
D Sioen
B Vervaecke





REGISTERED OFFICE: C/O James Dewhurst Ltd
Altham Lane
Altham
Accrington
Lancashire
BB5 5YA





REGISTERED NUMBER: 01871440 (England and Wales)





AUDITORS: McMillan & Co LLP
Chartered Accountants and
Statutory Auditor
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Sioen UK Limited (Registered number: 01871440)

Balance Sheet
31 December 2024

2024 2023
Notes £ £
CURRENT ASSETS
Debtors 6 1,524,139 1,680,261
Cash at bank 121,812 244,115
1,645,951 1,924,376
CREDITORS
Amounts falling due within one year 7 944,534 745,973
NET CURRENT ASSETS 701,417 1,178,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

701,417

1,178,403

CAPITAL AND RESERVES
Called up share capital 8 160,000 160,000
Retained earnings 9 541,417 1,018,403
SHAREHOLDERS' FUNDS 701,417 1,178,403

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 Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:





M Sioen - Director


Sioen UK Limited (Registered number: 01871440)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Sioen UK 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 Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The principle accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

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 as the net of value added tax, returns, rebates and discounts.

The company recognised 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 the company's activities.

Intangible assets
Intangible assets are initially measured at cost. after initial recognition, intangible assets are measured at cost less any accumulated a,amortisation and any accumulated impairment losses.

Patents and licences have been fully amortised.

Sioen UK Limited (Registered number: 01871440)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of these financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amount presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Financial liabilities, including creditors, initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods all services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Sioen UK Limited (Registered number: 01871440)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 January 2024
and 31 December 2024 134,191
AMORTISATION
At 1 January 2024
and 31 December 2024 134,191
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Sioen UK Limited (Registered number: 01871440)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,524,139 1,399,356
Amounts owed by group undertakings - 273,645
Other debtors - 5,294
Prepayments and accrued income - 1,966
1,524,139 1,680,261

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 68,951 50,383
Amounts owed to group undertakings 331,235 -
Corporation tax 73,889 102,020
Social security and other taxes 16,466 18,670
VAT 316,139 299,146
Other creditors 76,047 213,111
Accruals and deferred income 61,807 62,643
944,534 745,973

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
130,000 Ordinary £1 130,000 130,000
30,000 8% Preference £1 30,000 30,000
160,000 160,000

9. RESERVES
Retained
earnings
£

At 1 January 2024 1,018,403
Profit for the year 523,014
Dividends (1,000,000 )
At 31 December 2024 541,417

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

The Report of the Auditors was unqualified.

Neil McMillan FCA (Senior Statutory Auditor)
for and on behalf of McMillan & Co LLP

Sioen UK Limited (Registered number: 01871440)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. PARENT AND ULTIMATE PARENT UNDERTAKING

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

The ultimate parent is Sihold n.v., incorporated in Belgium.

The most senior parent entity producing publicly available financial statements is Sihold n.v.. These financial statements are available upon request from Fabriekstraat 23, B-8850, Ardooie, Belgium.