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REGISTERED NUMBER: 03518831 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 6

Report of the Independent Auditors 8

Consolidated Income Statement 12

Consolidated Other Comprehensive Income 13

Consolidated Balance Sheet 14

Company Balance Sheet 15

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Cash Flow Statement 18

Notes to the Consolidated Cash Flow Statement 19

Notes to the Consolidated Financial Statements 20


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: Mr J T Schollmeyer
Ms N M Misch
Mrs L R Taylor
Mr E W Chalut
Mr A J Ponting
Mr M G Jacobs
Mrs B T Warming





SECRETARY: Mr C Forrest





REGISTERED OFFICE: 10th Floor
The Metro Building
1 Butterwick
London
W6 8DL





REGISTERED NUMBER: 03518831 (England and Wales)





AUDITORS: Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


The directors present their strategic report of the company and the group for the year ended 30th September 2024.

REVIEW OF BUSINESS
The principal activity of the group in the year under review was that of wholesalers of barbecues and related products.

The sub-group is part of the worldwide Weber Group which was established in 1952. The Weber Group is one of the world's leading providers of barbecues with the most comprehensive range of barbecue products and services in the industry. The Weber brand is internationally synonymous with barbecuing innovation, perfect barbecue products and the utility barbecuing experience.

The directors consider the results achieved by the group to be satisfactory, considering the current global economy. The group's market share in the world continues to grow and it is envisaged will improve further in the coming years following the continued investment in staffing and resources. The product ranges continue to be regularly updated with new innovative technology which is expected to improve income and profitability.

The group's key performance indicators during the year were as follows:

2023/24 2022/23

Turnover £272m £262m
Gross % 38.91% 20.73%
EBITDA £26.20m (£20.30m)

The directors consider the year to be satisfactory. The business has seen a growth in turnover this year with much improved gross profit margins now that the Poland manufacturing facility is fully operational. The costs and overheads have been under pressure this year from global inflation following the recent global conflicts impacting on energy costs.

The group balance sheet has improved due to the profits in the period.

Over the last two years the group has invested heavily in a new manufacturing plant in Poland. This is now having a significant benefit to the group now it is fully operational. it is improving the gross profit margins and profitability of the european region.

The UK group does not have any external funding requirements or reliance on any external creditors. All cash flow funding is monitored and arranged within the Weber Group. The ultimate parent company in the United States has confirmed their commitment to continuing this support to the group.

The directors are confident in the future outlook of the group and are budgeting the group being back in to profits from 2024/25.


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The principal commercial risks and uncertainties faced by the group include the general economic climate, seasonal weather factors and rising costs. The directors monitor these risks in order to respond and react to changes in the market place.

Competitive
The group is reliant on certain major customers for sales of products which are subject to ongoing review. The group is exposed to threats from competition, including imported products, as well as fluctuations in the size of the overall market. The group aims to mitigate competitive risks by continuing to maintain its position as a global barbecue brand through a focus on innovation and delivering high quality products and positive customer and consumer experience.

Legislative framework
The group may be exposed to changes in the legislation framework. In addition, compliance imposes costs and failure to comply with such legislation could result in increased costs and/or reduced sales for the group. The directors regularly monitor compliance and ensure that they are made aware of legislative changes.

Raw materials
The group both manufactures itself and buys finished products from the US parent company. The price of products used in the manufacture of the barbecues can be volatile, and the group is therefore exposed to movements in the price of the commodity products. During the period the group has seen significant rises in its raw material costs

Exchange rates
The group has considered the impact of foreign exchange risk, both from potential gains and losses arising from transactions in foreign currencies and also from the conversion of subsidiaries financial statements to the reporting currency.

Technical
The group relies heavily on its computer systems and associated infrastructure. Failure of such systems would constitute a risk to the group. The group has a series of risk management procedures in place.


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

SECTION 172(1) STATEMENT
Statement by the directors in performance of their statutory duties in accordance with Section 172(1) of the Companies Act 2006

We the board of directors, of Weber-Stephen Products (U.K.) Limited consider, both individually and together, that we have acted in the way we consider, in good faith, would most likely promote the success of the group for the benefit of our members as a whole in the decisions taken during the year. The following details how we have had regard to the matters set out in s.172(1) (a) to (f) as highlighted in bold below:

The likely consequences of any decision in the long term
The long term success of the Group is always considered in making decisions and this is aligned with the strategy and the risk management procedures within our group. An important factor to achieving this is with the US parent company being at the forefront of the strategic decision making.

The interests of the group's employees
The board recognises that its employees are fundamental to the success of our business. The health, safety and wellbeing of our employees continues to be a priority, and we have implemented measures to ensure all employees feel safe whilst at work, whether that be in the office or at home.

We aim to maintain a working environment that respects the diversity of staff and enables them to achieve their full potential, to contribute fully, and to derive maximum benefit and enjoyment from their involvement in the Group.

The need to foster the company's business relationship with suppliers, customers and others
Stakeholder relationships have been, and continue to be, a key source of value to our business and essential to delivering our strategy.

We seek to promote our values throughout all our stakeholder engagements and consider shared values to be an important factor when engaging with new and existing stakeholders. We conduct regular reviews of current suppliers to ensure that standards are adhered to.

Partnerships are an important cornerstone in our success, and over the years we have formed excellent relationships with key stakeholders.

The impact of the company's operations on the community and environment
We believe we have a responsibility to protect and care for the environment, and we take our responsibilities seriously.

The desirability of the company maintaining a reputation of high standards of business conduct
If there is one area where the Weber Group stand head and shoulders above the competition it is our commitment to quality. When you purchase a Weber barbecue, you are not just getting a high quality product, but a premium warranty too. We are so confident in the quality of our barbecues, we guarantee the individual components of our gas, charcoal and electric barbecues for up to 10 years.

The need to act fairly between members of the company
After considering all the relevant factors, we consider which course of action best enables delivery of our strategy, taking into consideration the financial reward to our shareholders and the impact on stakeholders and our employees. In doing so, the application of ethical and sustainable policies is highly promoted.

FINANCIAL RISK MANAGEMENT
The group's operations expose it to a variety of financial risks that include the effects of credit, currency, interest rate and liquidity risk. The directors actively manage these risks by monitoring levels of risk and the related costs of mitigating these.

The group finances their operations through a combination of retained profits and inter-group loans. They are not exposed to any external funding.

Hedge accounting is not used by the group.


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

EMPLOYEE INVOLVEMENT
The directors continue to develop employees using both external and in house resources. Programmes are developed around both business needs and personal development. The group continues to appraise all systems and staff wellbeing to actively promote a positive group culture.

It is the group's policy to consult and discuss with employees on matters likely to affect their interests.

In the recruitment of staff and their future career development, individuals are considered having regard to their aptitudes and abilities, irrespective of race, sex, sexual orientation, marital status or disability.

DISABLED PERSONS
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitude of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

ON BEHALF OF THE BOARD:





Mr A J Ponting - Director


11th July 2025

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


The directors present their report with the financial statements of the company and the group for the year ended 30th September 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of wholesalers of barbecues and related products.

DIVIDENDS
No dividends will be distributed for the year ended 30th September 2024.

RESEARCH AND DEVELOPMENT
The group continues to develop improved barbecue equipment and techniques.

FUTURE DEVELOPMENTS
No significant changes to the group's business are anticipated.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st October 2023 to the date of this report.

Mr J T Schollmeyer
Ms N M Misch
Mrs L R Taylor
Mr E W Chalut

Other changes in directors holding office are as follows:

Mr F J Lepeltier - resigned 16th August 2024

Mr A J Ponting , Mr M G Jacobs and Mrs B T Warming were appointed as directors after 30th September 2024 but prior to the date of this report.

STREAMLINED ENERGY AND CARBON REPORTING
As the group has not consumed more than 40,000 kWh of energy in the UK in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr A J Ponting - Director


11th July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WEBER-STEPHEN PRODUCTS (U.K.) LIMITED


Opinion
We have audited the financial statements of Weber-Stephen Products (U.K.) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30th September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WEBER-STEPHEN PRODUCTS (U.K.) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on pages six and seven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WEBER-STEPHEN PRODUCTS (U.K.) LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and parent company and the nature of the sector in which it operates, we have identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006 and tax legislation.

We have evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to inappropriate journal entries, improper application of revenue cut-off procedures, omission of provisions and management bias within accounting estimates and judgements. Our audit procedures designed to address these risks included, but were not limited to:

- Obtaining an understanding of internal controls relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
internal controls;
- Enquiries with management, regarding any known or suspected instances of non-compliance with laws and
regulations and fraud;
- Challenging assumptions and judgements made by management in their significant accounting estimates, in
particular, those relating to provisions and future performance;
- Auditing the risk of management override of controls, including through the testing of journal entries and other
adjustments for appropriateness;
- Revenue year end cut-off procedures;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of
material misstatement due to fraud; and
- Agreement of the financial statements disclosures to the underlying supporting documentation.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment by misrepresentations or through collusion. There are inherent limitations in the audit procedures performed, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WEBER-STEPHEN PRODUCTS (U.K.) LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Sunter (Senior Statutory Auditor)
for and on behalf of Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

11th July 2025

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   

TURNOVER 3 272,424,182 262,296,729

Cost of sales 166,426,587 207,925,136
GROSS PROFIT 105,997,595 54,371,593

Distribution costs 388,431 341,028
Administrative expenses 81,049,847 74,950,590
81,438,278 75,291,618
OPERATING PROFIT/(LOSS) 5 24,559,317 (20,920,025 )

Interest receivable and similar income 1,317,144 335,426
25,876,461 (20,584,599 )

Interest payable and similar expenses 6 4,345,724 2,988,894
PROFIT/(LOSS) BEFORE TAXATION 21,530,737 (23,573,493 )

Tax on profit/(loss) 7 1,030,008 1,087,941
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

20,500,729

(24,661,434

)
Profit/(loss) attributable to:
Owners of the parent 20,500,729 (24,661,434 )

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 20,500,729 (24,661,434 )


OTHER COMPREHENSIVE INCOME
Equity difference on foreign currency 1,643,693 898,688
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

1,643,693

898,688
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

22,144,422

(23,762,746

)

Total comprehensive income attributable to:
Owners of the parent 22,144,422 (23,762,746 )

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

CONSOLIDATED BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 36,832,204 30,029,068
Investments 10 - -
36,832,204 30,029,068

CURRENT ASSETS
Stocks 11 49,063,867 70,870,315
Debtors 12 138,796,195 120,280,982
Cash at bank 8,526,700 11,038,494
196,386,762 202,189,791
CREDITORS
Amounts falling due within one year 13 218,936,946 240,081,261
NET CURRENT LIABILITIES (22,550,184 ) (37,891,470 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,282,020

(7,862,402

)

CAPITAL AND RESERVES
Called up share capital 15 100 100
Share premium 16 4,335,163 4,335,163
Equity difference on foreign
currency translations 16 1,739,881 96,188
Retained earnings 16 8,206,876 (12,293,853 )
SHAREHOLDERS' FUNDS 14,282,020 (7,862,402 )

The financial statements were approved by the Board of Directors and authorised for issue on 11th July 2025 and were signed on its behalf by:





Mr A J Ponting - Director


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

COMPANY BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 22,147 55,754
Investments 10 19,995,465 19,995,465
20,017,612 20,051,219

CURRENT ASSETS
Stocks 11 6,182,765 7,978,796
Debtors 12 3,897,070 2,867,601
Cash at bank 17,741 638,208
10,097,576 11,484,605
CREDITORS
Amounts falling due within one year 13 16,482,020 17,560,584
NET CURRENT LIABILITIES (6,384,444 ) (6,075,979 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,633,168

13,975,240

CAPITAL AND RESERVES
Called up share capital 15 100 100
Share premium 16 4,335,163 4,335,163
Retained earnings 16 9,297,905 9,639,977
SHAREHOLDERS' FUNDS 13,633,168 13,975,240

Company's loss for the financial year (342,072 ) (1,695,483 )

The financial statements were approved by the Board of Directors and authorised for issue on 11th July 2025 and were signed on its behalf by:





Mr A J Ponting - Director


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Equity
difference
on
Called up foreign
share Retained Share currency Total
capital earnings premium translations equity
£    £    £    £    £   
Balance at 1st October 2022 100 12,367,581 4,335,163 (802,500 ) 15,900,344

Changes in equity
Total comprehensive income - (24,661,434 ) - 898,688 (23,762,746 )
Balance at 30th September 2023 100 (12,293,853 ) 4,335,163 96,188 (7,862,402 )

Changes in equity
Total comprehensive income - 20,500,729 - 1,643,693 22,144,422
Balance at 30th September 2024 100 8,206,876 4,335,163 1,739,881 14,282,020

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1st October 2022 100 11,335,460 4,335,163 15,670,723

Changes in equity
Total comprehensive income - (1,695,483 ) - (1,695,483 )
Balance at 30th September 2023 100 9,639,977 4,335,163 13,975,240

Changes in equity
Total comprehensive income - (342,072 ) - (342,072 )
Balance at 30th September 2024 100 9,297,905 4,335,163 13,633,168

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 11,431,093 (1,978,907 )
Interest paid (4,345,724 ) (2,988,894 )
Equity difference on foreign exchange 1,643,693 898,688
Tax paid (1,723,374 ) (908,642 )
Net cash from operating activities 7,005,688 (4,977,755 )

Cash flows from investing activities
Purchase of tangible fixed assets (11,040,255 ) (2,869,056 )
Sale of tangible fixed assets 205,629 2,050,965
Interest received 1,317,144 335,426
Net cash from investing activities (9,517,482 ) (482,665 )

Decrease in cash and cash equivalents (2,511,794 ) (5,460,420 )
Cash and cash equivalents at beginning of
year

2

11,038,494

16,498,914

Cash and cash equivalents at end of year 2 8,526,700 11,038,494

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

30.9.24 30.9.23
£    £   
Profit/(loss) before taxation 21,530,737 (23,573,493 )
Depreciation charges 3,843,284 3,699,283
Loss on disposal of fixed assets 188,206 -
Finance costs 4,345,724 2,988,894
Finance income (1,317,144 ) (335,426 )
28,590,807 (17,220,742 )
Decrease in stocks 21,806,448 24,393,064
Increase in trade and other debtors (18,515,213 ) (8,415,289 )
Decrease in trade and other creditors (20,450,949 ) (735,940 )
Cash generated from operations 11,431,093 (1,978,907 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30th September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 8,526,700 11,038,494
Year ended 30th September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 11,038,494 16,498,914


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank 11,038,494 (2,511,794 ) 8,526,700
11,038,494 (2,511,794 ) 8,526,700
Total 11,038,494 (2,511,794 ) 8,526,700

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

Weber-Stephen Products (U.K.) 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 General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on a going concern basis which assumes that the group will be able to meet its liabilities as they fall due. The parent company, Weber-Stephen Products LLC, have confirmed their commitment to financial support of the group, including continued support of the groups in its cash flow requirements.

Basis of consolidation
The consolidated financial statements include the company and its subsidiary undertakings.

Related party exemption
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 this sub-group.

Transactions between members of this sub-group which have been eliminated on consolidation are not disclosed within the financial statements.

All balances with other members of the Weber worldwide group, which are not part of this sub-group, are disclosed in the financial statements.

Significant judgements and estimates
In application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The judgements and estimates which have a significant risk of causing material adjustment to the carrying amount of assets and liabilities are as follows:

Sales rebate provisions - the directors have made estimations in respect of the level of sales rebate provisions payable to customers. The sales rebate provisions are based on a number of factors which are not all fully apparent at the year end.

Stock provisions - the directors have reviewed and estimated the value of stock which is either slow moving or obsolete.

Bad debt provisions - the directors have reviewed and estimated the value of debtors which they do not believe are fully recoverable.

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on dispatch of the goods) the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost and 20% on cost

Tangible assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

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.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through the Consolidated Income Statement, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction the financial asset or liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as financial instruments:
Investments in subsidiaries, trade debtors, trade creditors and inter group balances.

Trade debtors, trade creditors, and inter group balances (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Consolidated Income Statement.


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Some overseas subsidiaries record their transactions in foreign currencies. These subsidiaries results are translated into sterling for the purposes of these consolidated financial statements. The income statements are translated using the average rate for the year whilst the assets and liabilities are translated at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

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

Operating leases
Rentals paid under operating leases are charged to the Consolidated Income Statement on a straight line basis over the period of the lease.

Investments
Investments are included at cost less amounts written off. Profits or losses arising from disposals of fixed asset investments are treated as part of the results from ordinary activities unless the profit or losses are exceptional.

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

30.9.24 30.9.23
£    £   
United Kingdom 26,912,635 28,469,969
Western Europe 119,837,560 121,941,202
Eastern Europe 76,089,053 64,157,270
Canada 39,684,799 36,632,714
South America 2,971,713 2,584,270
Asia 6,928,422 8,511,304
272,424,182 262,296,729

4. EMPLOYEES AND DIRECTORS
30.9.24 30.9.23
£    £   
Wages and salaries 24,009,038 20,624,044
Social security costs 3,014,908 2,780,521
Other pension costs 196,883 169,748
27,220,829 23,574,313

The average number of employees during the year was as follows:
30.9.24 30.9.23

Directors 4 5
Administration, sales and distribution 473 462
477 467

30.9.24 30.9.23
£    £   
Directors' remuneration 645,849 268,369
Directors' pension contributions to money purchase schemes 22,308 18,397

Information regarding the highest paid director is as follows:
30.9.24 30.9.23
£    £   
Emoluments etc 645,849 268,369
Pension contributions to money purchase schemes 22,308 18,397

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

30.9.24 30.9.23
£    £   
Depreciation - owned assets 3,843,284 3,699,283
Loss on disposal of fixed assets 188,206 -
Auditors' remuneration 43,650 42,125
Other non- audit services 2,100 1,525
Component auditors remuneration 302,783 300,153

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.24 30.9.23
£    £   
Group interest payable 4,345,724 2,988,894

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
Withholding tax 175,810 -
Overseas tax 854,198 1,087,941

Tax on profit/(loss) 1,030,008 1,087,941

Tax effects relating to effects of other comprehensive income

30.9.24
Gross Tax Net
£    £    £   
Equity difference on foreign currency 1,643,693 - 1,643,693

30.9.23
Gross Tax Net
£    £    £   
Equity difference on foreign currency 898,688 - 898,688

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


9. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st October 2023 936,876 29,066,153 13,732,475
Additions 52,165 9,847,534 1,133,380
Disposals (183,223 ) - (788,673 )
At 30th September 2024 805,818 38,913,687 14,077,182
DEPRECIATION
At 1st October 2023 442,371 3,842,985 9,507,901
Charge for year 170,088 2,482,493 1,165,398
Eliminated on disposal (132,717 ) - (474,878 )
At 30th September 2024 479,742 6,325,478 10,198,421
NET BOOK VALUE
At 30th September 2024 326,076 32,588,209 3,878,761
At 30th September 2023 494,505 25,223,168 4,224,574

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st October 2023 35,000 3,695,934 47,466,438
Additions - 7,176 11,040,255
Disposals - (3,240,975 ) (4,212,871 )
At 30th September 2024 35,000 462,135 54,293,822
DEPRECIATION
At 1st October 2023 22,435 3,621,678 17,437,370
Charge for year 7,509 17,796 3,843,284
Eliminated on disposal - (3,211,441 ) (3,819,036 )
At 30th September 2024 29,944 428,033 17,461,618
NET BOOK VALUE
At 30th September 2024 5,056 34,102 36,832,204
At 30th September 2023 12,565 74,256 30,029,068

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


9. TANGIBLE FIXED ASSETS - continued

Company
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st October 2023 111,881 46,079 35,000 46,206 239,166
Additions - - - 3,667 3,667
At 30th September 2024 111,881 46,079 35,000 49,873 242,833
DEPRECIATION
At 1st October 2023 68,692 46,079 22,435 46,206 183,412
Charge for year 29,459 - 7,509 306 37,274
At 30th September 2024 98,151 46,079 29,944 46,512 220,686
NET BOOK VALUE
At 30th September 2024 13,730 - 5,056 3,361 22,147
At 30th September 2023 43,189 - 12,565 - 55,754

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st October 2023
and 30th September 2024 19,995,465
NET BOOK VALUE
At 30th September 2024 19,995,465
At 30th September 2023 19,995,465

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Weber-Stephen Deutschland GmbH
Registered office: Germany
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


10. FIXED ASSET INVESTMENTS - continued

Weber-Stephen (Schweiz) GmbH
Registered office: Switzerland
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen CZ & SK spol. s.r.o.
Registered office: Czech Republic
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Vostok LLC
Registered office: Russia
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Polska Spol. Z.o.o
Registered office: Poland
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Products (EMEA) GmbH
Registered office: Germany
Nature of business: Administration etc.for EMEA
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Holdings (UK) Limited
Registered office: United Kingdom
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen (Canada) Company
Registered office: Canada
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


10. FIXED ASSET INVESTMENTS - continued

Weber-Stephen Chile SpA
Registered office: Chile
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber (Shanghai) Trading Company Limited
Registered office: China
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Products (Hong Kong) Limited
Registered office: Hong Kong
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Products Japan GK
Registered office: Japan
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Products (Malaysia) SDN. BHD.
Registered office: Malaysia
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Products Sp. Zoo. W Organizacji
Registered office: Poland
Nature of business: Manufacturer of barbecues
%
Class of shares: holding
Ordinary 100.00

Weber-Stephen Colombia SAS
Registered office: Colombia
Nature of business: Wholesale of barbecues
%
Class of shares: holding
Ordinary 100.00


WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


11. STOCKS

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Finished goods 49,063,867 70,870,315 6,182,765 7,978,796

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Trade debtors 23,433,443 25,594,852 2,242,505 1,396,461
Amount owed by group companies 85,958,529 71,676,626 1,398,319 78,915
VAT - - 116,004 1,155,084
Prepayments and accrued income 29,404,223 23,009,504 140,242 237,141
138,796,195 120,280,982 3,897,070 2,867,601

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Trade creditors 15,784,661 9,347,609 704,463 320,715
Tax 12,636 881,812 - -
VAT 11,659,870 5,959,876 - -
Other creditors 31,361,472 32,936,257 3,753,741 2,750,626
Amount owed to group companies 160,118,307 190,955,707 12,023,816 14,489,243
218,936,946 240,081,261 16,482,020 17,560,584

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 1,219,192 3,575,033
Between one and five years 5,924,762 7,744,078
7,143,954 11,319,111

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


14. LEASING AGREEMENTS - continued

Company
Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 427,382 384,224
Between one and five years 103,401 364,628
530,783 748,852

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

16. RESERVES

Group
Equity
difference
on
foreign
Retained Share currency
earnings premium translations Totals
£    £    £    £   

At 1st October 2023 (12,293,853 ) 4,335,163 96,188 (7,862,502 )
Profit for the year 20,500,729 20,500,729
Movement in the year - - 1,643,693 1,643,693
At 30th September 2024 8,206,876 4,335,163 1,739,881 14,281,920

Company
Retained Share
earnings premium Totals
£    £    £   

At 1st October 2023 9,639,977 4,335,163 13,975,140
Deficit for the year (342,072 ) (342,072 )
At 30th September 2024 9,297,905 4,335,163 13,633,068


17. PENSION COMMITMENTS

The company operates a defined contribution scheme for the benefit of certain employees. The assets of the scheme are administered by trustees in a fund independent from the group.

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED (REGISTERED NUMBER: 03518831)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


18. ULTIMATE PARENT COMPANY

In the directors' opinion the company's ultimate parent company is Weber-Stephen Products LLC which is incorporated in the United States of America. The company's address is 1415 S. Roselle Road, Palatine, Illinois, 60067, USA.

19. ULTIMATE CONTROLLING PARTY

In the directors' opinion the company's ultimate controlling party is BDT Capital Partners LLC which is incorporated in the United States of America.