REGISTERED NUMBER: 06560022 (England and Wales)

DILLINGER SAARSTAHL UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr R Clarke

REGISTERED OFFICE:

Suite 5a

Normandy Gateway

Lysaghts Way

SCUNTHORPE

DN15 9YG

REGISTERED NUMBER:

06560022 (England and Wales)

AUDITORS:

McCabe Ford Williams

Statutory Auditors and Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

FIXED ASSETS

Tangible assets

5

1,743

4,040

Investments

6

-

1,000

1,743

5,040

CURRENT ASSETS

Debtors

7

61,531

145,030

Cash at bank

277,262

120,776

338,793

265,806

CREDITORS

Amounts falling due within one year

8

54,994

157,714

NET CURRENT ASSETS

283,799

108,092

TOTAL ASSETS LESS CURRENT LIABILITIES

285,542

113,132

PROVISIONS FOR LIABILITIES

200

-

NET ASSETS

285,342

113,132

CAPITAL AND RESERVES

Called up share capital

10

2,000

2,000

Retained earnings

283,342

111,132

SHAREHOLDERS' FUNDS

285,342

113,132

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 23 September 2025 and were signed by:

Mr R Clarke - Director

1.	STATUTORY INFORMATION

Dillinger Saarstahl 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 (£).

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.

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 its parent companies, being a wholly owned subsidiary within the overall group.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered 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 to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

Turnover

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

The company receives a mark-up of 7.5% on eligible costs incurred on behalf of the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

straight line over 10 years

Computer equipment

-

straight line over 4 years

Government grants

Government Grants are recognised in the period they relate once the conditions of the grant are met and it is probable the grant will be recieved and can be measured reliably. Government grants are shown within other operating income.

Investments in subsidiaries

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

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost 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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

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 4 (2023 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

7,826

8,397

16,223

Disposals

-

(4,166

)

(4,166

)

At 31 December 2024

7,826

4,231

12,057

DEPRECIATION

At 1 January 2024

5,594

6,589

12,183

Charge for year

774

245

1,019

Eliminated on disposal

-

(2,888

)

(2,888

)

At 31 December 2024

6,368

3,946

10,314

NET BOOK VALUE

At 31 December 2024

1,458

285

1,743

At 31 December 2023

2,232

1,808

4,040

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

1,000

Impairments

(1,000

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

1,000

The company acquired the entire share capital of Saarstahl UK Limited on 31 December 2023. Saarstahl UK Limited applied for dissolution on 15 October 2024 and this was granted on 7 January 2025.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed from group undertaking

48,936

84,706

Other debtors

1,000

1,000

Corporation tax refund

-

3,690

VAT

1,142

3,452

Deferred tax asset

-

2,523

Prepayments and accrued income

10,453

49,659

61,531

145,030

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

8,323

44

Amounts owed to group undertaking

827

-

Other taxes and PAYE taxes

11,013

-

Other creditors

1,184

-

Accruals and deferred income

33,647

157,670

54,994

157,714

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

14,981

36,736

Between one and five years

12,956

53,618

In more than five years

21,233

-

49,170

90,354

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

2,000

Ordinary Shares

1

2,000

2,000

During the previous year, the company allotted and issued an additional 1,000 shares.

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

The Report of the Auditors was unqualified.

Clair Rayner FCA DChA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

12.	RELATED PARTY DISCLOSURES

The company is a 50% subsidiary of Aktien-Gesellschaft der Dillinger Hüttenwerke, a company incorporated in Germany whose registered office is Werkstrasse 1, 66763 Dillingen/Saar, Germany. The company is also a 50% subsidiary of Saarstahl AG, a company incorporated in Germany whose registered office is Bismarkstrasse 57-59, 66333 Volklingen, Germany.

Prior to 31 December 2023 the company was a 100% subsidiary of Aktien-Gesellschaft der Dillinger Hüttenwerke.

13.	POST BALANCE SHEET EVENTS

On 14 March 2025, an interim dividend was voted for £200,000 in respect of the year ending 31 December 2025.