An IKEA furniture store in the UK has been fined £75,000 ($118,000AUD) after a little boy had two fingers sliced off when he fell on a moving walkway.

The toddler, aged just two, was leaning forward on the escalator when he lost his balance and his fingers became wedged between the moving walkway and its skirting.

The boy screamed in pain as his middle and index fingers were severed.

One finger was retrieved while the other disappeared beneath the escalator and the boy was rushed to hospital, but it was too late to save either finger.

IKEA in Milton Keynes has accepted partial responsibility for the accident after it was found the gap between the moving parts and the skirting board was larger than the regulation 4mm.

IKEA argued they were not fully responsible for the accident because a maintenance firm had checked the escalator just two days before the accident.

In awarding £75,000 in damages to the boy's family, Judge Joanna Cutts said "IKEA had an indelible duty to ensure the safety of all customers and failed in its duty."

The multi-national furniture chain was also order to pay £90,000 ($142,000AUD) in prosecution costs.