REGISTERED NUMBER: 04172042 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Sierra Wireless (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J T Gutierrez

REGISTERED OFFICE:

Boston House

Henley-on-Thames

RG9 1DY

REGISTERED NUMBER:

04172042 (England and Wales)

SENIOR STATUTORY AUDITOR:

Nicholas M Smith BFP, ACA, CTA

AUDITORS:

Villars Hayward LLP

Chartered Accountants,

Chartered Tax Advisers and Statutory Auditors

Boston House

Henley-on-Thames

RG9 1DY

CURRENT ASSETS

Debtors

4

6,367,835

5,771,367

Cash at bank

1,314,084

1,731,339

7,681,919

7,502,706

CREDITORS

Amounts falling due within one year

5

191,587

353,475

NET CURRENT ASSETS

7,490,332

7,149,231

TOTAL ASSETS LESS CURRENT LIABILITIES

7,490,332

7,149,231

CAPITAL AND RESERVES

Called up share capital

4,153,454

4,153,454

Share premium

2,856,368

2,856,368

Retained earnings

480,510

139,409

SHAREHOLDERS' FUNDS

7,490,332

7,149,231

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 2 December 2025 and were signed by:

J T Gutierrez - Director

1.	STATUTORY INFORMATION

Sierra Wireless (UK) Limited is a private company, limited by shares incorporated in England and Wales and has its registered office at Boston House, Boston Road, Henley-on-Thames, RG9 1DY. The company is a wholly owned subsidiary undertaking of Semtech Limited, a company incorporated in England and Wales and has its registered office at. C/O Wright Johnston & Mackenzie LLP Capital Building, 12-13 St Andrew Square, Edinburgh, Scotland, EH2 2AF

The company's principal activity for the year under review is the provision of business development, marketing and technical support services relating to embedded modules and software for original equipment manufacturers, or OEM's, intelligent wireless gateway solutions for industrial, commercial and public safety applications and an innovative platform for delivering device management and end-to-end application services.

The functional currency of the company is US Dollars ($). These financial statements are presented in 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.

Preparation of consolidated financial statements

The financial statements contain information about Sierra Wireless (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Semtech Corporation, whose registered office is at 200 Flynn Road, Camarillo, California 93012.

Turnover

Turnover is measured at the fair value of consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Taxation

Tax on profit represents the sum of the tax currently payable.

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Foreign currencies

Monetary Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the Balance sheet date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of transaction. 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. The assets of the scheme are held separately from those of the company in an independent administered fund.

Financial assets and liabilities

Trade and other debtors are initially recognised at transaction price and are subsequently remeasured to 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.

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Related party disclosures and preparation of a cash flow statement

The company claims exemption from both the disclosure of related party transactions and the preparation of a cashflow statement in accordance with FRS 102 Section 1A.

Going concern

The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern which the directors consider appropriate having regard to the circumstances outlined in the notes to the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 11 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by group undertakings

6,366,524

5,765,964

Other debtors

1,311

5,403

6,367,835

5,771,367

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

-

5,541

Amounts owed to group undertakings

148,282

15,503

Taxation and social security

8,836

-

Other creditors

34,469

332,431

191,587

353,475

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

The Report of the Auditors was unqualified.

Nicholas M Smith BFP, ACA, CTA (Senior Statutory Auditor)

for and on behalf of Villars Hayward LLP

7.	ULTIMATE CONTROLLING PARTY

At the balance sheet date, the immediate and ultimate parent undertaking and controlling party is Semtech Corporation, a company incorporated in the United States of America.

The results of the company are consolidated by Semtech Corporation and copies of its financial statements can be obtained from the registered office, 200 Flynn Road, Camarillo, USA.