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01/01/2023
31/12/2023
2023-12-31
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No description of principal activities is disclosed
2023-01-01
Sage Accounts Production 24.0 - FRS102_2024
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2023-12-31
11530585
2023-12-31
11530585
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11530585
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11530585
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11530585
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11530585
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11530585
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11530585
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11530585
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11530585
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11530585
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11530585
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11530585
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11530585
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2023-12-31
Company registration number:
11530585
United Orthopedic Corporation (UK), Ltd.
Filleted financial statements
31 December 2023
United Orthopedic Corporation (UK), Ltd.
Contents
Directors and other information
Director's responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
United Orthopedic Corporation (UK), Ltd.
Directors and other information
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Director |
Mr Francois Eric Bopp |
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Company number |
11530585 |
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Registered office |
2 Grange Farm Business Park |
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Grange Road |
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Hugglescote |
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Coalville |
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LE67 2BT |
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Business address |
2 Grange Farm Business Park |
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Grange Road |
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Hugglescote |
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Coalville |
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LE67 2BT |
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Auditor |
Emery & Co Accountants Limited |
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The Hayloft, Lodge Farm |
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Lodge Lane |
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Cheslyn Hay |
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Cannock |
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WS11 0LT |
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United Orthopedic Corporation (UK), Ltd.
Director's responsibilities statement
Year ended 31 December 2023
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
United Orthopedic Corporation (UK), Ltd.
Statement of financial position
31 December 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
- |
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7,482 |
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_______ |
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_______ |
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- |
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7,482 |
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Current assets |
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Stocks |
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- |
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681,487 |
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Debtors |
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6 |
1 |
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355,776 |
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_______ |
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_______ |
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1 |
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1,037,263 |
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Creditors: amounts falling due |
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within one year |
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7 |
- |
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(
1,177,508) |
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_______ |
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_______ |
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Net current assets/(liabilities) |
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1 |
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(
140,245) |
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_______ |
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_______ |
Total assets less current liabilities |
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1 |
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(
132,763) |
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_______ |
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_______ |
Net assets/(liabilities) |
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1 |
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(
132,763) |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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1 |
Profit and loss account |
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- |
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(
132,764) |
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_______ |
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_______ |
Shareholders funds/(deficit) |
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1 |
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(
132,763) |
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_______ |
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_______ |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
08 April 2025
, and are signed on behalf of the board by:
Mr Francois Eric Bopp
Director
Company registration number:
11530585
United Orthopedic Corporation (UK), Ltd.
Statement of changes in equity
Year ended 31 December 2023
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 1 January 2022 |
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1 |
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(
548,539) |
(
548,538) |
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Profit for the year |
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415,775 |
415,775 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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415,775 |
415,775 |
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_______ |
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_______ |
_______ |
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At 31 December 2022 and 1 January 2023 |
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1 |
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(
132,764) |
(
132,763) |
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Profit for the year |
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132,764 |
132,764 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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132,764 |
132,764 |
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_______ |
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_______ |
_______ |
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At 31 December 2023 |
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1 |
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- |
1 |
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_______ |
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_______ |
_______ |
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United Orthopedic Corporation (UK), Ltd.
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 2 Grange Farm Business Park, Grange Road, Hugglescote, Coalville, LE67 2BT.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.With the exception of going concern, the following accounting policies relate to the comparative figures only.
Going concern
These financial statements have been prepared on the basis that the company has ceased to trade on 1 January 2023.A decision has yet to be made about the future of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in the profit or loss.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
- |
25% reducing balance |
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Fittings fixtures and equipment |
- |
25% reducing balance |
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Office equipment |
- |
25% reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
4
).
5.
Tangible assets
|
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Plant and machinery |
Fixtures, fittings and equipment |
Office equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
223,087 |
5,710 |
9,937 |
238,734 |
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Disposals |
(
223,087) |
(
5,710) |
(
9,937) |
(
238,734) |
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_______ |
_______ |
_______ |
_______ |
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At 31 December 2023 |
- |
- |
- |
- |
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_______ |
_______ |
_______ |
_______ |
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Depreciation |
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At 1 January 2023 |
223,087 |
2,750 |
5,415 |
231,252 |
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Disposals |
(
223,087) |
(
2,750) |
(
5,415) |
(
231,252) |
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|
_______ |
_______ |
_______ |
_______ |
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At 31 December 2023 |
- |
- |
- |
- |
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_______ |
_______ |
_______ |
_______ |
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Carrying amount |
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At 31 December 2023 |
- |
- |
- |
- |
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_______ |
_______ |
_______ |
_______ |
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At 31 December 2022 |
- |
2,960 |
4,522 |
7,482 |
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_______ |
_______ |
_______ |
_______ |
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6.
Debtors
|
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|
2023 |
2022 |
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£ |
£ |
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Trade debtors |
|
- |
312,411 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
1 |
- |
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Other debtors |
|
- |
43,365 |
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|
_______ |
_______ |
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|
1 |
355,776 |
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|
_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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|
2023 |
2022 |
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£ |
£ |
|
Trade creditors |
|
- |
75,921 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
1,043,972 |
|
Social security and other taxes |
|
- |
14,238 |
|
Other creditors |
|
- |
43,377 |
|
|
|
_______ |
_______ |
|
|
|
- |
1,177,508 |
|
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|
_______ |
_______ |
|
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|
8.
Limitation of auditors liability
There is a limited liability agreement in place with the auditors Emery & Co Accountants Limited, this was approved with a written resolution dated 27 January 2025.
9.
Summary audit opinion
The auditor's report dated
08 April 2025
was unqualified, however, the auditor drew attention to the following by way of emphasis.
We draw attention to note 3 in the financial statements which explains that the financial statements have been prepared on the basis that the company has ceased to trade on 1 January 2023 when all of its trade and net assets were transferred to another group company.Our opinion is not modified in respect of this matter.
The senior statutory auditor was
Miss Lisa Joanne Emery FCCA
for and on behalf of
Emery & Co Accountants Limited
10.
Related party transactions
During the year, United Orthopedics Limited forgave a debt of £132,764 (2022: £Nil) due from
United Orthopedic Corporation (UK), Ltd.
. During the year, UOC Europe Holdings SA forgave a debt of £Nil (2022: £357,065) due from
United Orthopedic Corporation (UK), Ltd.
. Included within other debtors is an amount of £1 (2022: £474,296 other creditors) due from United Orthopedics Limited, an entity under common control.During the year, United Orthopedics Limited received cash totalling £Nil (2022: £2,318,365) and made payments totalling £Nil (2022: £2,367,777) on behalf of
United Orthopedic Corporation (UK), Ltd.
.
11.
Transfer of trade and assets
On 1 January 2023,
United Orthopedic Corporation (UK), Ltd.
transferred all its trade and assets to United Orthopedics Limited as part of a restructuring process. Following the transfer, United Orthopedic Corporation (UK), Ltd. ceased trading and has no significant remaining operations. The transfer of trade and assets was carried out at book value, and no profit or loss was recognised on the transfer. All assets, liabilities, and associated operations previously held by United Orthopedic Corporation (UK), Ltd.
are now owned by United Orthopedics Limited. The financial statements have been prepared on a basis consistent with the continuation of the trade by United Orthopedics Limited. Accordingly, no adjustments have been made to the carrying amounts of the transferred assets and liabilities in these financial statements.
12.
Parent company
The immediate parent undertaking is UOC Europe Holding S.A. The director regards United Orthopedic Corporation, which is incorporated in Taiwan, as the company's ultimate parent company. The largest group in which the results of the company are consolidated is that headed by United Orthopedic Corporation. The consolidated financial statements of this company are available to the public and may be obtained from United Orthopedic Corporation, No. 57, Yuanqu 2nd Road., East Dist., Hsinchu City 300, Taiwan (R.O.C.). No other group financial statements include the results of the company.