REGISTERED NUMBER: 08134062 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

SIA Appliances Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Debtors

4

755,647

744,905

Cash at bank

254

19,763

755,901

764,668

CREDITORS

Amounts falling due within one year

5

895,487

792,942

NET CURRENT LIABILITIES

(139,586

)

(28,274

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(139,586

)

(28,274

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Capital redemption reserve

5

5

Retained earnings

(139,691

)

(28,379

)

SHAREHOLDERS' FUNDS

(139,586

)

(28,274

)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mr S Johnson - Director

1.	STATUTORY INFORMATION

SIA Appliances Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08134062

Registered office:

Unit 8

Centenary Park

Coronet Way

Salford

Greater Manchester

M50 1RE

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the group will continue its operations for the foreseeable future. This assessment is based on detailed forecasts prepared by management and reviewed by the group's principal lender. These forecasts demonstrate that the group is expected to maintain sufficient working capital and cash flow to meet its obligations as they fall due over the 12 months from the date of approval of these financial statements, including servicing debt, funding operations, and meeting commitments to employees and suppliers.

The group's ability to continue as a going concern is dependent on maintaining adequate headroom within its invoice financing facility and the continued support of suppliers. The directors are continuing to address the position, working closely with the group's stakeholders to ensure that this position continues to be maintained.

Turnover

Turnover represents net invoiced sales of goods and marketing services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

70,037

Amounts owed by group undertakings

740,219

661,386

Other debtors

15,428

13,482

755,647

744,905

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

64,379

Amounts owed to group undertakings

870,161

694,612

Taxation and social security

-

5,234

Other creditors

25,326

28,717

895,487

792,942

6.	SECURED DEBTS

A fixed and floating charge over all company assets and undertakings is held by Lloyds Bank Commercial Finance Ltd, this charge contains a negative pledge.

The group has entered into a multilateral guarantee with the Lloyds Bank Commercial Finance Ltd as follows:

Debentures consisting of fixed and floating charged over all the assets and undertaking of the reporting entity, OEM Appliances, Coolmed Limited, Xingbang UK Limited, Ship It Appliances Limited, For Everyone Group Ltd, Evec Ltd, CWW Holdings Limited and Coolmed Calibration Ltd.

In addition a further debenture has been entered into with Close Brothers Limited which includes a fixed and floating charges of the assets of the company and its parent company For Everyone Group Limited.

As at 31 December 2024, the group had an invoice finance facility of £3,337,066 (2023 - £3,865,346), a cashflow loan of £958,338 (2023 - £1,208,334) and a stock facility of £309,606 (2023 - £Nil)

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

35

"A" Ordinary

£1

35

35

5

"B" Ordinary

£1

5

5

25

"C" Ordinary

£1

25

25

35

"D" Ordinary

£1

35

35

100

100

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

The Report of the Auditors was unqualified.

Richard Thompson BA FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge in respect of contributions to the fund amounts to £5,000 (2023 £12,000).

10.	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.

11.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party is For Everyone Group Limited. The registered office of For Everyone Group Limited is Unit 8 Centenary Park, Coronet Way, Salford, Greater Manchester, England, M50 1RE.