Acorah Software Products - Accounts Production 16.2.800 false true 30 November 2023 1 December 2022 false 13 March 2025 1 December 2023 30 November 2024 30 November 2024 02800699 Doctor Ingeborg Hochmair Mr Charles Dippenaar Ms Sharon Munt MED-EL ELEKTROMEDIZININSCHE GERATE GMBH 6020, Innsbruck, Austria, FURSTENWEG 77A true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02800699 2023-11-30 02800699 2024-11-30 02800699 2023-12-01 2024-11-30 02800699 frs-core:CurrentFinancialInstruments 2024-11-30 02800699 frs-core:BetweenOneFiveYears 2024-11-30 02800699 frs-core:FurnitureFittings 2024-11-30 02800699 frs-core:FurnitureFittings 2023-12-01 2024-11-30 02800699 frs-core:FurnitureFittings 2023-11-30 02800699 frs-core:MotorVehicles 2023-12-01 2024-11-30 02800699 frs-core:PlantMachinery 2024-11-30 02800699 frs-core:PlantMachinery 2023-12-01 2024-11-30 02800699 frs-core:PlantMachinery 2023-11-30 02800699 frs-core:WithinOneYear 2024-11-30 02800699 frs-core:ShareCapital 2024-11-30 02800699 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 02800699 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 02800699 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 02800699 frs-bus:SmallEntities 2023-12-01 2024-11-30 02800699 frs-bus:Audited 2023-12-01 2024-11-30 02800699 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 02800699 1 2023-12-01 2024-11-30 02800699 frs-bus:Director1 2023-12-01 2024-11-30 02800699 frs-bus:Director2 2023-12-01 2024-11-30 02800699 frs-bus:CompanySecretary1 2023-12-01 2024-11-30 02800699 frs-countries:EnglandWales 2023-12-01 2024-11-30 02800699 2022-11-30 02800699 2023-11-30 02800699 2022-12-01 2023-11-30 02800699 frs-core:CurrentFinancialInstruments 2023-11-30 02800699 frs-core:BetweenOneFiveYears 2023-11-30 02800699 frs-core:WithinOneYear 2023-11-30 02800699 frs-core:ShareCapital 2023-11-30 02800699 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 02800699
MED-EL UK Limited
Financial Statements
For The Year Ended 30 November 2024
Relative Accountancy Limited
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—5
Page 1
Statement of Financial Position
Registered number: 02800699
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 73,549 86,435
73,549 86,435
CURRENT ASSETS
Stocks 5 1,585,016 1,074,011
Debtors 6 2,447,546 1,046,037
Cash at bank and in hand 427,600 359,335
4,460,162 2,479,383
Creditors: Amounts Falling Due Within One Year 7 (4,459,365 ) (2,016,739 )
NET CURRENT ASSETS (LIABILITIES) 797 462,644
TOTAL ASSETS LESS CURRENT LIABILITIES 74,346 549,079
PROVISIONS FOR LIABILITIES
Deferred Taxation - (19,738 )
NET ASSETS 74,346 529,341
CAPITAL AND RESERVES
Called up share capital 8 32,000 32,000
Income Statement 42,346 497,341
SHAREHOLDERS' FUNDS 74,346 529,341
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 Income Statement.
On behalf of the board
Mr Charles Dippenaar
Director
13/03/2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
MED-EL UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02800699 . The registered office is 3 Park Square Thorncliffe Park Estate, Newton Chambers Road, Sheffield, South Yorkshire, S35 2PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The directors are satisfied that the company has sufficient cash flows to continue meeting its liabilities as they fall due for at least one year from the date of the approval of the financial statements, thus they continue to adopt the going concern basis of accounting preparing the annual financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
2.2. Turnover
Turnover is the amount derived from ordinary activities, and stated after trade discounts, VAT and any other sales taxes.  Income is recognised upon delivery 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 33% on cost
Motor Vehicles 12.5% on cost
Fixtures & Fittings 12.5% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. 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 of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition.  Cost is calculated using the first-in, first-out formula.  Provision is made for damaged, obsolete and slow moving stock where appropriate.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. 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.
2.8. Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, financial liabilites or equity instruments.  An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.9. Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.10. Warranty provision
The company has accounted for the companies legal obligation to cover the future cost of repair due to its product warranty. 
This is estimated based on historical costs projected over the level of sales.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 48 (2023: 46)
48 46
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2023 181,024 131,229 312,253
Additions 33,125 1,368 34,493
As at 30 November 2024 214,149 132,597 346,746
Depreciation
As at 1 December 2023 120,928 104,890 225,818
Provided during the period 34,020 13,359 47,379
As at 30 November 2024 154,948 118,249 273,197
...CONTINUED
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Page 4
Net Book Value
As at 30 November 2024 59,201 14,348 73,549
As at 1 December 2023 60,096 26,339 86,435
5. Stocks
2024 2023
£ £
Stock 1,577,871 1,061,942
Third party stock 7,145 12,069
1,585,016 1,074,011
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,310,988 1,001,983
Other debtors 136,558 44,054
2,447,546 1,046,037
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 50,502 60,810
Bank loans and overdrafts 94,982 -
Amounts owed to participating interests 2,813,498 1,292,345
Other creditors 1,078,115 321,953
Taxation and social security 422,268 341,631
4,459,365 2,016,739
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 32,000 32,000
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 201,523 168,408
Later than one year and not later than five years 339,822 428,453
541,345 596,861
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10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is MED-EL ELEKTROMEDIZININSCHE GERATE GMBH . MED-EL ELEKTROMEDIZININSCHE GERATE GMBH was incorporated in Austria. Copies of the group accounts may be obtained from the secretary, 6020, Innsbruck, Austria, FURSTENWEG 77A
The ultimate controlling party is Johanna Hochmair by virtue of her controlling shareholding of the parent company MED-EL ELEKTROMEDIZININSCHE GERATE GMBH
11. Audit Information
The auditor's report on the accounts of MED-EL UK Limited for the year ended 30 November 2024 was unqualified.
The auditor's report was signed by Thomas Bond ACA (Senior Statutory Auditor) for and on behalf of Thomas Coombs Limited , Statutory Auditor.
Thomas Coombs Limited
3365 The Pentagon, Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB
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