Registered number: 07084280 | ||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||
Prepared By: | ||||||||
Staffer Mayled & Co Ltd | ||||||||
46-48 Station Road | ||||||||
Cardiff | ||||||||
CF14 5LU |
OSSEO REGENERATIVE TECHNOLOGIES (UK) LTD | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 07084280 | ||||||||
ACCOUNTANTS | ||||||||
Staffer Mayled & Co Ltd | ||||||||
46-48 Station Road | ||||||||
Cardiff | ||||||||
CF14 5LU |
OSSEO REGENERATIVE TECHNOLOGIES (UK) LTD | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/10/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
OSSEO REGENERATIVE TECHNOLOGIES (UK) LTD | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Intangible assets | 2 | |||||||||
Tangible assets | 3 | |||||||||
Investment Assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
511,673 | 308,220 | |||||||||
CREDITORS: Amounts falling due within one year | 7 | |||||||||
NET CURRENT LIABILITIES | ( | (394,131) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | 1,246,123 | 847,770 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 10 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 11 | |||||||||
Profit and loss account | 439,586 | 324,332 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
OSSEO REGENERATIVE TECHNOLOGIES (UK) LTD | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Depreciation | ||||||||
Land And Buildings | straight line 2% | |||||||
Plant and Machinery | reducing balance 25% | |||||||
Fixtures and Fittings | reducing balance 25% |
1b. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1c. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1d. Goodwill | ||||||||
1e. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are made for permanent fluctuations in value. |
OSSEO REGENERATIVE TECHNOLOGIES (UK) LTD | ||||||||
2. INTANGIBLE FIXED ASSETS | |||||||||
Purchased | |||||||||
Goodwill | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/11/2022 | 95,871 | 95,871 | |||||||
Additions | 1,054,238 | 1,054,238 | |||||||
Disposals | (95,871) | (95,871) | |||||||
At 31/10/2023 | 1,054,238 | 1,054,238 | |||||||
Depreciation | |||||||||
At 01/11/2022 | 71,903 | 71,903 | |||||||
Disposals | (71,903) | (71,903) | |||||||
For the year | 175,199 | 175,199 | |||||||
At 31/10/2023 | 175,199 | 175,199 | |||||||
Net Book Amounts | |||||||||
At 31/10/2023 | |||||||||
At 31/10/2022 | |||||||||
£492,153 of goodwill additions in period are related to hive up of GRBI Limited. | |||||||||
£562,085 of goodwill additions in period are related to new purchase. | |||||||||
£95,871 of goodwill disposals are related to sale of a part of the business. | |||||||||
3. TANGIBLE FIXED ASSETS | ||||||||||
Land And | Plant and | Fixtures | ||||||||
Buildings | Machinery | and Fittings | Total | |||||||
£ | £ | £ | £ | |||||||
Cost | ||||||||||
At 01/11/2022 | 1,013,085 | 33,025 | 491,936 | 1,538,046 | ||||||
Additions | - | 6,429 | 5,099 | 11,528 | ||||||
Disposals | - | (7,802) | (118,811) | (126,613) | ||||||
At 31/10/2023 | 1,013,085 | 31,652 | 378,224 | 1,422,961 | ||||||
Depreciation | ||||||||||
At 01/11/2022 | 57,050 | 25,917 | 381,984 | 464,951 | ||||||
Disposals | - | (5,557) | (103,621) | (109,178) | ||||||
For the year | 20,265 | 2,828 | 24,974 | 48,067 | ||||||
At 31/10/2023 | 77,315 | 23,188 | 303,337 | 403,840 | ||||||
Net Book Amounts | ||||||||||
At 31/10/2023 | 1,019,121 | |||||||||
At 31/10/2022 | 1,073,095 | |||||||||
The following Tangible Fixed Asset disposals are associated with the sale of a part of the business: • £2,759 of the Plant and Machinery disposals and accumulated depreciation of £691 • £36,462 of the Fixtures and Fittings disposals and accumulated depreciation of £27,903 | ||||||||||
The following Tangible Fixed Asset disposals arise from the scrappage of obsolete equipment: • £5,043 of the Plant and Machinery disposals and accumulated depreciation of £4,866 • £82,349 of the Fixtures and Fittings disposals and accumulated depreciation of £75,718 | ||||||||||
OSSEO REGENERATIVE TECHNOLOGIES (UK) LTD | ||||||||
4. FINANCIAL ASSETS | |||||||||
Shares in group companies | |||||||||
and participating interests | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/11/2022 | 492,154 | 492,154 | |||||||
Disposals | (492,153) | (492,153) | |||||||
At 31/10/2023 | 1 | 1 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31/10/2023 | 1 | 1 | |||||||
At 31/10/2022 | 492,154 | 492,154 | |||||||
In 2020 the company purchased 100% of the share capital of GRBI Ltd (company number 09021386). Investment in its subsidiary company represents the cost of acquisition of the whole of the ordinary share capital. At the 31 October 2022, the aggregate of the share capital and reserves of GRBI Ltd amounted to £5 and the profit for the year to that date was £nil. | |||||||||
Investment in GRBI Ltd share capital was hived up into the goodwill of Osseo Regenerative Technologies (UK) Ltd in the period and it is included in additions. | |||||||||
5. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
6. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Other debtors | 201,541 | - | ||||||
Amounts due from group companies | 54,441 | 37,590 | ||||||
Prepayments | 11,000 | 11,000 | ||||||
266,982 | 48,590 | |||||||
OSSEO REGENERATIVE TECHNOLOGIES (UK) LTD | ||||||||
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 95,963 | 55,242 | ||||||
PAYE control | 4,976 | 2,994 | ||||||
Directors current account | 334,818 | 471,723 | ||||||
Bank Loan | 126,995 | 75,481 | ||||||
Hire purchase | 2,347 | 2,347 | ||||||
Trade creditors | 120,711 | 85,511 | ||||||
Patient charges | 118 | 1,019 | ||||||
Deferred income | 21,379 | 8,034 | ||||||
Amounts due to group companies | 5 | - | ||||||
707,312 | 702,351 | |||||||
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Loans >1yr | 1,242,823 | 842,500 | ||||||
Hire purchase >1yr | 3,300 | 5,270 | ||||||
1,246,123 | 847,770 | |||||||
On the 7/05/2020 the company received a Covid bounce back loan of £50,000. Repayments started on 07/06/2021, consisting of 60 payments of £833.33. Interest rate of 2.500% applies. On the 26/10/2020 the company entered into a loan agreement for £910,000 with 240 payments of £4,760.09. Interest rate of 2.360% applies. On the 30/05/2023 the company entered into a loan agreement for £557,000 with monthly repayment of £4,922.86. Interest rate of 6.530% applies. Client entered into a hire purchase agreement on 08/07/2021. £11,738.60 is payable over 60 monthly instalments of £195.56. This agreement relates to purchase of new assets. | ||||||||
9. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 8 | |||||
OSSEO REGENERATIVE TECHNOLOGIES (UK) LTD | ||||||||
10. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Pensions | 877 | 642 | ||||||
Deferred taxation | 15,836 | 22,242 | ||||||
16,713 | 22,884 | |||||||
11. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
12. CONTROLLING PARTY | ||||||||
Are the directors and shareholders of the company. | ||||||||