Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01Imaging5753false 08025022 2022-06-01 2023-05-31 08025022 2021-06-01 2022-05-31 08025022 2023-05-31 08025022 2022-05-31 08025022 2021-06-01 08025022 c:Director1 2022-06-01 2023-05-31 08025022 d:PlantMachinery 2022-06-01 2023-05-31 08025022 d:PlantMachinery 2023-05-31 08025022 d:PlantMachinery 2022-05-31 08025022 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08025022 d:ComputerEquipment 2022-06-01 2023-05-31 08025022 d:ComputerEquipment 2023-05-31 08025022 d:ComputerEquipment 2022-05-31 08025022 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08025022 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 08025022 d:Goodwill 2023-05-31 08025022 d:Goodwill 2022-05-31 08025022 d:ComputerSoftware 2023-05-31 08025022 d:ComputerSoftware 2022-05-31 08025022 d:CurrentFinancialInstruments 2023-05-31 08025022 d:CurrentFinancialInstruments 2022-05-31 08025022 d:Non-currentFinancialInstruments 2023-05-31 08025022 d:Non-currentFinancialInstruments 2022-05-31 08025022 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08025022 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 08025022 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 08025022 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 08025022 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 08025022 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 08025022 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 08025022 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 08025022 d:ShareCapital 2023-05-31 08025022 d:ShareCapital 2022-05-31 08025022 d:ShareCapital 2021-06-01 08025022 d:SharePremium 2023-05-31 08025022 d:SharePremium 2022-05-31 08025022 d:SharePremium 2021-06-01 08025022 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 08025022 d:RetainedEarningsAccumulatedLosses 2023-05-31 08025022 d:RetainedEarningsAccumulatedLosses 2021-06-01 2022-05-31 08025022 d:RetainedEarningsAccumulatedLosses 2022-05-31 08025022 d:RetainedEarningsAccumulatedLosses 2021-06-01 08025022 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 08025022 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 08025022 c:FRS102 2022-06-01 2023-05-31 08025022 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 08025022 c:FullAccounts 2022-06-01 2023-05-31 08025022 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08025022 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 08025022 d:HirePurchaseContracts d:WithinOneYear 2022-05-31 08025022 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 08025022 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-05-31 08025022 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-06-01 2023-05-31 08025022 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-06-01 2023-05-31 08025022 2 2022-06-01 2023-05-31 08025022 6 2022-06-01 2023-05-31 08025022 d:ExternallyAcquiredIntangibleAssets 2022-06-01 2023-05-31 08025022 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-31 08025022 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-05-31 08025022 d:Goodwill d:OwnedIntangibleAssets 2022-06-01 2023-05-31 08025022 d:ComputerSoftware d:OwnedIntangibleAssets 2022-06-01 2023-05-31 08025022 e:PoundSterling 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 08025022










ORYON IMAGING AND HEALTHCARE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
ORYON IMAGING AND HEALTHCARE LTD
REGISTERED NUMBER: 08025022

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
29,079
21,444

Tangible assets
 5 
126,958
94,929

Investments
 6 
5,551
5,551

  
161,588
121,924

Current assets
  

Stocks
  
5,000
5,000

Debtors: amounts falling due after more than one year
 7 
94,879
94,879

Debtors: amounts falling due within one year
 7 
806,958
853,902

Cash at bank and in hand
 8 
1,076,230
1,239,321

  
1,983,067
2,193,102

Creditors: amounts falling due within one year
 9 
(1,065,662)
(1,129,214)

Net current assets
  
 
 
917,405
 
 
1,063,888

Total assets less current liabilities
  
1,078,993
1,185,812

Creditors: amounts falling due after more than one year
 10 
(290,743)
(469,066)

Provisions for liabilities
  

Deferred tax
 13 
(20,223)
(23,726)

  
 
 
(20,223)
 
 
(23,726)

Net assets
  
768,027
693,020


Capital and reserves
  

Called up share capital 
  
114
114

Share premium account
  
287,373
287,373

Profit and loss account
  
480,540
405,533

  
768,027
693,020


Page 1

 
ORYON IMAGING AND HEALTHCARE LTD
REGISTERED NUMBER: 08025022
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 February 2024.




L C Clark
Director

The notes on pages 4 to 15 form part of these financial statements.

Page 2

 
ORYON IMAGING AND HEALTHCARE LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 June 2021
114
287,373
170,372
457,859



Profit for the year
-
-
584,643
584,643

Dividends: Equity capital
-
-
(349,482)
(349,482)



At 1 June 2022
114
287,373
405,533
693,020



Profit for the year
-
-
471,729
471,729

Dividends: Equity capital
-
-
(396,722)
(396,722)


At 31 May 2023
114
287,373
480,540
768,027


The notes on pages 4 to 15 form part of these financial statements.

Page 3

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Oryon Imaging and Healthcare Limited is a private limited company incorporated in the UK  and registered in England and Wales, registration number 08025022. The registered office is 14th Floor, 33 Cavendish Square, London, United Kingdom, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors believe that the company has the ability to fulfil its financial obligations for a period of at least twelve months from the date of these financial statements and therefore consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.13
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20% and 25% reducing balance
Computer equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.19

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 8

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.19
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 57 (2022 - 53).

Page 9

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 June 2022
95,324
232,408
327,732


Additions
29,760
-
29,760



At 31 May 2023

125,084
232,408
357,492



Amortisation


At 1 June 2022
73,880
232,408
306,288


Charge for the year on owned assets
22,125
-
22,125



At 31 May 2023

96,005
232,408
328,413



Net book value



At 31 May 2023
29,079
-
29,079



At 31 May 2022
21,444
-
21,444



Page 10

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 June 2022
290,658
159,829
450,487


Additions
55,847
20,567
76,414


Disposals
(26,653)
-
(26,653)



At 31 May 2023

319,852
180,396
500,248



Depreciation


At 1 June 2022
208,408
147,150
355,558


Charge for the year on owned assets
19,611
19,465
39,076


Disposals
(21,344)
-
(21,344)



At 31 May 2023

206,675
166,615
373,290



Net book value



At 31 May 2023
113,177
13,781
126,958



At 31 May 2022
82,250
12,679
94,929

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
25,620
32,025

Page 11

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 June 2022
51
5,500
5,551



At 31 May 2023
51
5,500
5,551





7.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
94,879
94,879

94,879
94,879


2023
2022
£
£

Due within one year

Trade debtors
180,585
155,350

Other debtors
578,295
655,689

Prepayments and accrued income
48,078
42,863

806,958
853,902



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,076,230
1,239,321


Page 12

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
70,000
70,000

Other loans
333,452
404,385

Trade creditors
318,789
327,502

Corporation tax
128,673
165,447

Other taxation and social security
36,663
46,581

Obligations under finance lease and hire purchase contracts
9,794
9,794

Other creditors
12,408
12,323

Accruals and deferred income
155,883
93,182

1,065,662
1,129,214



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
134,167
204,166

Other loans
146,390
244,920

Net obligations under finance leases and hire purchase contracts
10,186
19,980

290,743
469,066


Page 13

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
70,000
70,000

Other loans
333,452
404,385


403,452
474,385

Amounts falling due 1-2 years

Bank loans
70,000
70,000

Other loans
103,636
98,529

Amounts falling due 2-5 years

Bank loans
64,167
134,166

Other loans
42,755
146,391


684,010
923,471


A director has provided a partial guarantee against one of the bank loans.


12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
9,794
9,794

Between 1-5 years
10,186
19,980

19,980
29,774

Page 14

 
ORYON IMAGING AND HEALTHCARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

13.


Deferred taxation




2023


£






At beginning of year
(23,726)


Charged to profit or loss
3,503



At end of year
(20,223)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(20,223)
(23,726)


14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £45,780 (2022: £50,438). Contributions totalling £5,770 (2022: £6,972) were payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

Included within other debtors is an amount owed by a director, totalling £368,413 (2022: £368,413) which is repayable on demand.
Included within other debtors are amounts owed by related companies, totalling £89,980 (2022: £122,028).

 
Page 15