Company registration number 03686147 (England and Wales)
Sielaff UK Limited
financial statements
For the year ended 31 December 2024
Sielaff UK Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
Sielaff UK Limited
Statement of financial position
As at 31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
33,662
57,833
Current assets
Stocks
33,325
63,608
Debtors
5
49,644
123,413
Cash at bank and in hand
59,773
63,514
142,742
250,535
Creditors: amounts falling due within one year
6
(532,668)
(641,462)
Net current liabilities
(389,926)
(390,927)
Net liabilities
(356,264)
(333,094)
Capital and reserves
Called up share capital
7
86,055
86,055
Profit and loss reserves
(442,319)
(419,149)
Total equity
(356,264)
(333,094)

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 September 2025 and are signed on its behalf by:
Mr T Haegele
Mr B Enser
Director
Director
Company registration number 03686147 (England and Wales)
Sielaff UK Limited
Statement of changes in equity
For the year ended 31 December 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
86,055
(621,412)
(535,357)
Year ended 31 December 2023:
Profit and total comprehensive income
-
202,263
202,263
Balance at 31 December 2023
86,055
(419,149)
(333,094)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(23,170)
(23,170)
Balance at 31 December 2024
86,055
(442,319)
(356,264)
Sielaff UK Limited
Notes to the financial statements
For the year ended 31 December 2024
- 3 -
1
Accounting policies
Company information

Sielaff UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4 Rossway Business Park, Wharf Approach, Walsall, West Midlands, United Kingdom, WS9 8BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the year end the company is in a net liabilities position and is dependent on the support of its parent undertaking. The parent company has agreed not to demand repayment of the intercompany loan balance due to it and excluding these amounts owed to the parent company, the company would be in a net assets position.true

On the basis of the continuing support of it's parent undertaking the directors consider it appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue 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.

1.4
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on cost
Computers
20% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Sielaff UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.8
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 its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts 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.

Sielaff UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are 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 paymen ts 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 or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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.

1.9
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12

Loans & Borrowings

Loans and borrowing costs are initially recognised at cost including associated transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Sielaff UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’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 directors believe that there are no critical judgements that have significant effect on amounts recognised in the financial statements. Key accounting estimates are noted below.

Key sources of estimation uncertainty

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

Stock provisions

The directors have estimated the provision required for stocks that have not been sold or have only had limited sales over the past several years. The directors have also provided for stocks held that are considered to be obsolete. Uncertainties in this provision relate to the actual net realisable value of these stock items.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
8
Sielaff UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 7 -
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
11,123
2,037
90,600
103,760
Additions
-
0
1,214
-
0
1,214
At 31 December 2024
11,123
3,251
90,600
104,974
Depreciation and impairment
At 1 January 2024
5,135
473
40,319
45,927
Depreciation charged in the year
2,289
437
22,659
25,385
At 31 December 2024
7,424
910
62,978
71,312
Carrying amount
At 31 December 2024
3,699
2,341
27,622
33,662
At 31 December 2023
5,988
1,564
50,281
57,833
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39,285
113,094
Other debtors
10,359
10,319
49,644
123,413
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,201
438
Amounts owed to group undertakings
504,388
610,999
Taxation and social security
1,847
11,208
Other creditors
25,232
18,817
532,668
641,462
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
of £1 each
86,055
86,055
Sielaff UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 8 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Stacey Parr FCCA
Statutory Auditor:
DJH Audit Limited
Date of audit report:
15 September 2025
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
5,919
35,600
10
Parent company

Sielaff UK limited is under the control of its parent Sielaff GmbH & Co KG Automatenbau, a company registered in Germany, whom owns 100% of the issued share capital.

The registered office of Sielaff GmbH & Co KG Automatenbau is Münchener Str. 20, 91567, Herrieden, Germany.

The ultimate controlling party of the group is Baumgartner Verwaltungs-GmbH, a company registered in Germany.
The registered office is Münchener Str. 20, 91567, Herrieden, Germany.

The smallest and largest group for which financial statements are prepared is Baumgartner Verwaltungs-GmbH. Copies of the financial statements can be obtained by contacting the company secretary at Baumgartner Verwaltungs-GmbH, Münchener Str. 20, 91567, Herrieden, Germany.

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