OPED UK Limited 07560067 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is wholesale of orthopedic products Digita Accounts Production Advanced 6.30.9574.0 true true 07560067 2024-01-01 2024-12-31 07560067 2024-12-31 07560067 bus:OrdinaryShareClass1 2024-12-31 07560067 core:CurrentFinancialInstruments 2024-12-31 07560067 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 07560067 core:Non-currentFinancialInstruments 2024-12-31 07560067 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 07560067 core:FurnitureFittingsToolsEquipment 2024-12-31 07560067 core:MotorVehicles 2024-12-31 07560067 bus:SmallEntities 2024-01-01 2024-12-31 07560067 bus:Audited 2024-01-01 2024-12-31 07560067 bus:FilletedAccounts 2024-01-01 2024-12-31 07560067 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07560067 bus:RegisteredOffice 2024-01-01 2024-12-31 07560067 bus:Director1 2024-01-01 2024-12-31 07560067 bus:Director2 2024-01-01 2024-12-31 07560067 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 07560067 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07560067 core:ComputerEquipment 2024-01-01 2024-12-31 07560067 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 07560067 core:MotorVehicles 2024-01-01 2024-12-31 07560067 core:PlantMachinery 2024-01-01 2024-12-31 07560067 core:OtherRelatedParties 2024-01-01 2024-12-31 07560067 countries:AllCountries 2024-01-01 2024-12-31 07560067 2023-12-31 07560067 core:FurnitureFittingsToolsEquipment 2023-12-31 07560067 core:MotorVehicles 2023-12-31 07560067 2023-01-01 2023-12-31 07560067 2023-12-31 07560067 bus:OrdinaryShareClass1 2023-12-31 07560067 core:CurrentFinancialInstruments 2023-12-31 07560067 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07560067 core:Non-currentFinancialInstruments 2023-12-31 07560067 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 07560067 core:FurnitureFittingsToolsEquipment 2023-12-31 07560067 core:MotorVehicles 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07560067

OPED UK Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

OPED UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

OPED UK Limited

Company Information

Directors

Christian Thomas Puritscher

Mr Mark Brodie

Registered office

Unit 5
Avro Business Centre Avro Way
Bowerhill
Melksham
Wiltshire
SN12 6TP

Auditors

HMB Accountants Limited
18a Manor Way
Belasis Hall Technology Park
Billingham
TS23 4HN

 

OPED UK Limited

(Registration number: 07560067)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible Assets

4

791

1,513

Current assets

 

Stocks

5

641,680

650,015

Debtors

6

248,001

218,935

Cash at bank and in hand

 

481,911

503,846

 

1,371,592

1,372,796

Creditors: Amounts falling due within one year

7

(226,206)

(211,130)

Net current assets

 

1,145,386

1,161,666

Total assets less current liabilities

 

1,146,177

1,163,179

Creditors: Amounts falling due after more than one year

7

(248,760)

(912,555)

Net assets

 

897,417

250,624

Capital and reserves

 

Called up share capital

8

1,100,000

1,100,000

Retained earnings

(202,583)

(849,376)

Shareholders' funds

 

897,417

250,624

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Christian Thomas Puritscher
Director

 

OPED UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 5
Avro Business Centre Avro Way
Bowerhill
Melksham
Wiltshire
SN12 6TP
United Kingdom

These financial statements were authorised for issue by the Board on 13 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have been prepared on the basis that the company is able to carry on business as a going concern, which the directors consider appropriate. The company has the support of the parent company that has confirmed its intention to continue to provide sufficient financial support for the company for the foreseeable future.

 

OPED UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 18 March 2025 was Howard M Bedford, who signed for and on behalf of HMB Accountants Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25 % Straight line basis

Fixtures, fittings and equipment

25 % Straight line basis

Motor vehicles

25 % Straight line basis

Computer equipment

33 % Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

OPED UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

OPED UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including Directors) during the year, was 6 (2023 - 8).

 

OPED UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

67,780

7,534

75,314

Additions

1,520

-

1,520

At 31 December 2024

69,300

7,534

76,834

Depreciation

At 1 January 2024

66,267

7,534

73,801

Charge for the year

2,242

-

2,242

At 31 December 2024

68,509

7,534

76,043

Carrying amount

At 31 December 2024

791

-

791

At 31 December 2023

1,513

-

1,513

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

641,680

650,015

6

Debtors

Current

2024
£

2023
£

Trade Debtors

199,807

206,464

Prepayments

27,008

4,071

Other debtors

21,186

8,400

 

248,001

218,935

 

OPED UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

33,154

4,695

Taxation and social security

58,103

76,407

Accruals and deferred income

30,713

30,417

Other creditors

104,236

99,611

226,206

211,130


Included in other creditors is an amount of £54,252 ( 2023: £98,860 ) due to the parent company, Oped AG.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

248,760

912,555


Included within loans and borrowings falling due after more than one year is £248,760 ( 2023: £912,555 ) due to parent company, Oped AG, in respect of liabilities payable or payable otherwise than by instalments which fall due for repayment after more than five years from the reporting date.The loans bare interest of 6.81% and 5.31% per anum

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,100,000

1,100,000

1,100,000

1,100,000

       
 

OPED UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

248,760

912,555

10

Related party transactions

Summary of transactions with other related parties

OPED UK LIMITED (OPED UK) is a wholly-owned subsidiary of OPED AG, a company incorporated in Switzerland.

Oped AG Limited has made loans to the company to fund working capital. Interest charged on these loans in the year is £33,142.17 ( 2023 : £65,687.39 ). At the end of the year £248,760 (2023 £912,555 ) was outstanding at the end of the year.

During the year Oped AG charged Oped UK Limited £93,745.92 (2023 £131,694 ) in respect of licence fees during the year.

Oped GMBH is a wholly owned subsidiary of Oped AG. During the year Oped GMBH invoiced Oped UK £612,754.58 (2023 £669,210) of which £54,799.75 ( 2023 £5,028 ) was included in other creditors at the end of the year