ACCOUNTS - Final Accounts

Company registration number: 09046815

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	SILONY MEDICAL LIMITED


SILONY MEDICAL LIMITED

CONTENTS

	Page
Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 - 7


SILONY MEDICAL LIMITED

COMPANY INFORMATION

Directors	Constantin Schoen
	Stephen Smith


Company secretary	Matthias Graf


Registered number	09046815


Registered office	5 The Beacons
	Hatfield
	Hertfordshire
	AL10 8RS


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP

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SILONY MEDICAL LIMITED REGISTERED NUMBER:09046815

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		320,287		322,799
			320,287		322,799
Current assets
Stocks		2,603,614		2,630,448
Debtors: amounts falling due after more than one year	5	32,100		32,100
Debtors: amounts falling due within one year	5	309,418		302,466
Cash at bank and in hand		91,213		44,359
		3,036,345		3,009,373
Creditors: amounts falling due within one year	6	(1,471,397)		(1,214,803)
Net current assets			1,564,948		1,794,570
Total assets less current liabilities			1,885,235		2,117,369

Net assets			1,885,235		2,117,369

Capital and reserves
Called up share capital	7	6,000,001	6,000,001
Profit and loss account		(4,114,766)	(3,882,632)
		1,885,235	2,117,369

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 income statement 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 by:

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

Constantin Schoen

Director

Date: 2 April 2025

The notes on pages 3 to 7 form part of these financial statements.

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SILONY MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Silony Medical Limited is a private company limited by shares and incorporated and domiciled in England and Wales. The address of its registered office is disclosed on the company information page, which is also its principal place of business.

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.

2.2

Going concern

The financial statements have been prepared on a going concern basis, which assumes the company will continue to trade in operational existence for the foreseeable future.
While the balance sheet position shows a net asset position as at 31 December 2024, the parent company, Silony Medical International AG, has confirmed that, as the major creditor of the UK company, it will not demand repayment of the amounts outstanding until such time that the company is able to make repayments without have a detrimental impact on the company.

2.3

Turnover

The turnover shown in the Income Statement represents amounts receivable for products provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes.
Turnover is generated from the sale of medical instruments used in surgery for spinal patients.
Turnover in respect of goods held on consignment at hospital premises is recognised at the point the company is notified by the hospital that the goods have been utilised.

2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Instruments	-	3	years straight line for newly acquired or re-introduced instruments
Office equipment	-	10	years straight line
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.

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SILONY MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

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 weighted average basis.

At each reporting 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.

2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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

Operating leases

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.

Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 12).

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SILONY MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

	Instruments	Office equipment	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	1,479,920	78,928	44,439	1,603,287
Additions	203,470	357	7,337	211,164
Disposals	(166,648)	-	-	(166,648)
Transfers between classes	-	2,244	(2,244)	-
At 31 December 2024	1,516,742	81,529	49,532	1,647,803
Depreciation
At 1 January 2024	1,198,597	46,730	35,161	1,280,488
Charge for the year on owned assets	171,229	8,240	4,786	184,255
Disposals	(137,227)	-	-	(137,227)
Transfers between classes	-	2,244	(2,244)	-
At 31 December 2024	1,232,599	57,214	37,703	1,327,516
Net book value
At 31 December 2024	284,143	24,315	11,829	320,287
At 31 December 2023	281,323	32,198	9,278	322,799

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SILONY MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Debtors
		2024	2023
		£	£

Due after more than one year
Other debtors	32,100	32,100
	32,100	32,100

					2024	2023
					£	£

Due within one year
Trade debtors	217,565	222,419
Prepayments and accrued income	91,853	80,047
	309,418	302,466

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	62,659	66,290
Amounts owed to group undertakings	921,056	761,540
Other taxation and social security	100,472	105,661
Other creditors	10,767	15,698
Accruals and deferred income	376,443	265,614
	1,471,397	1,214,803

7.	Share capital
		2024	2023
		£	£

Authorised, allotted, called up and fully paid

6,000,001 (2023 - 6,000,001) Ordinary shares of £1.00 each	6,000,001	6,000,001

8.	Parent company

The immediate parent company is Silony Medical International AG, a company incorporated in Switzerland and the parent of the smallest group who prepares consolidated accounts. The address of its registered office is Bahnhofplatz 76a, 8500 Frauenfeld, Switzerland.

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SILONY MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 2 April 2025 by Sophie Said FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

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