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Registered number: 07451344
SGM Magnetics UK Limited
Financial Statements
For The Year Ended 31 December 2025
SGM Magnetics UK Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1
Notes to the Financial Statements | 2—5

Page 1
SGM Magnetics UK Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: 07451344

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | - |  | 341
|  |  | - |  | 341
CURRENT ASSETS
Stocks | 5 | 87,123 |  | 97,687 |
Debtors | 6 | 288,901 |  | 315,473 |
Cash at bank and in hand |  | 68,146 |  | 42,687 |
|  | 444,170 |  | 455,847 |
Creditors: Amounts Falling Due Within One Year | 7 | (1,470,119 ) |  | (1,062,937 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (1,025,949 ) |  | (607,090 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | (1,025,949 ) |  | (606,749 )
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (150,594 ) |  | (150,594 )
NET LIABILITIES |  |  | (1,176,543 ) |  | (757,343 )
CAPITAL AND RESERVES
Called up share capital | 9 |  | 10,000 |  | 10,000
Profit and Loss Account |  |  | (1,186,543 ) |  | (767,343 )
SHAREHOLDERS' FUNDS |  |  | (1,176,543) |  | (757,343)

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr R P Marshall Director
27th February 2026

The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
SGM Magnetics UK Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
SGM Magnetics 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. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements have been prepared on the going concern basis on the grounds that continued financial support of the parent company has been confirmed.
2.2. 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 is recognised when the customer takes possession of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 10% on cost
Computer Equipment | 33% on cost

2.4. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs in bringing the product to its current location and condition and is maintained on a first in, first out basis.
As stocks are sold, the carrying amount of those stocks is recognised as an expense in the year in which the related revenue is recognised.
At each reporting date, stocks are assessed for impairment and due allowances are made for obsolete and slow-moving items to reduce the carrying amount of these goods to their estimated selling price less costs to complete and sell. The amount of any write-down is recognised as an expense in the year that the write-down occurs. The reversal of any previous write-down is recognised as a reduction in the amount of stock expensed, in the year that the reversal occurs.
2.5. 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.
Page 2
Page 3
SGM Magnetics UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
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. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets

| Plant & Machinery | Computer Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2025 | 940 | 2,750 | 3,690
As at 31 December 2025 | 940 | 2,750 | 3,690
Depreciation
As at 1 January 2025 | 940 | 2,409 | 3,349
Provided during the period | - | 341 | 341
As at 31 December 2025 | 940 | 2,750 | 3,690
Net Book Value
As at 31 December 2025 | - | - | -
As at 1 January 2025 | - | 341 | 341

5. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Stock | 87,123 |  | 97,687

Page 3
Page 4
SGM Magnetics UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
6. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 118,122 |  | 106,044
Prepayments and accrued income | 10,966 |  | 9,616
Other debtors | 22,813 |  | 62,813
Deferred tax current asset | 137,000 |  | 137,000
| 288,901 |  | 315,473

7. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 2,246 |  | 2,953
Other taxes and social security | 8,799 |  | 6,152
VAT | 22,042 |  | 2,064
Other creditors | 897 |  | -
Accruals and deferred income | 18,590 |  | 7,865
Amounts owed to group undertakings | 1,408,845 |  | 1,035,203
Payments on account | 8,700 |  | 8,700
| 1,470,119 |  | 1,062,937

8. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Amounts owed to group undertakings | 150,594 |  | 150,594

9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up but not fully paid | £ |  | £
10,000 Ordinary Shares of £ 1.00 each | 10,000 |  | 10,000

10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 32,230 |  | 32,230
Later than one year and not later than five years | 37,385 |  | 69,615
| 69,615 |  | 101,845

11. Pension Commitments
The company operates a defined contribution scheme for employees. Contributions to the scheme during the financial year amounting to £9,872 (2024 £7,995) have been charged to the profit and loss account. At 31st December 2025, £897 was payable to the pension scheme (2024 £Nil).
12. Related Party Transactions
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.
Page 4
Page 5
SGM Magnetics UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
13. Ultimate Controlling Party
SGM Magnetics UK Limited is a subsidiary of SGM Magnetics SA, a company incorporated in Belgium. SGM Magnetics SA is 70.7% owned by DPM Holdings SA, a company which is a 100% subsidiary of Rewest Holding SA, both of which are incorporated in Belgium. D.C.M. Haegelsteen is the 100% owner of Rewest Holding SA. D.C.M. Haegelsteen is a director of the above companies.
Copies of the group accounts may be obtained from D.C.M. Haegelsteen, c/o Rewest Holding SA, Chaussee de Nivelles 167, 7181 Seneffe.
14. Audit Information
The auditor's report on the accounts of SGM Magnetics UK Limited for the year ended 31 December 2025 was unqualified.
The auditor's report was signed by Adam Bexon MChem FCA (Senior Statutory Auditor) for and on behalf of Burrows Scarborough Limited , Statutory Auditor.

Burrows Scarborough Limited Sovereign House 12 Warwick Street Coventry CV5 6ET

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