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REGISTERED NUMBER: 06488530 (England and Wales)



















Financial Statements

for the Year Ended 31 December 2024

for

ORTEC UK Limited

ORTEC UK Limited (Registered number: 06488530)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ORTEC UK Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R Skipworth
ORTEC Optimization Technology B.V.





SECRETARY: R Krins





REGISTERED OFFICE: Donington Mill House
Station Road
Castle Donington
Derby
Derbyshire
DE74 2NJ





REGISTERED NUMBER: 06488530 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

ORTEC UK Limited (Registered number: 06488530)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 628 5,442

CURRENT ASSETS
Debtors 5 2,663,190 2,173,574
Cash at bank 223,806 439,046
2,886,996 2,612,620
CREDITORS
Amounts falling due within one year 6 869,044 789,852
NET CURRENT ASSETS 2,017,952 1,822,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,018,580

1,828,210

CAPITAL AND RESERVES
Called up share capital 8 360,000 360,000
Retained earnings 1,658,580 1,468,210
SHAREHOLDERS' FUNDS 2,018,580 1,828,210

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





R Skipworth - Director


ORTEC UK Limited (Registered number: 06488530)

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

1. STATUTORY INFORMATION

ORTEC UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

ORTEC UK Limited (Registered number: 06488530)

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

2. ACCOUNTING POLICIES - continued

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.

Depreciation is provided on the following basis:

Equipment- 20% on cost

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 the profit and loss account.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Any impairment loss is recognised as an expense in the profit and loss account immediately.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, loans from banks, other third parties and loans to related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
The tax charge for the year comprises of current tax.

Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

ORTEC UK Limited (Registered number: 06488530)

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

2. ACCOUNTING POLICIES - continued

Foreign currency translation
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 the profit and loss account.

Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 January 2024
and 31 December 2024 88,018
DEPRECIATION
At 1 January 2024 82,576
Charge for year 4,814
At 31 December 2024 87,390
NET BOOK VALUE
At 31 December 2024 628
At 31 December 2023 5,442

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,627,385 2,019,576
Amounts owed by group undertakings 963,922 34,562
Other debtors 71,883 119,436
2,663,190 2,173,574

ORTEC UK Limited (Registered number: 06488530)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 18,906 10,247
Tax 36,460 22,725
Social security and other taxes 338,330 296,077
Other creditors 475,348 460,803
869,044 789,852

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 30,000 30,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
360,000 Ordinary £1 360,000 360,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sean Douglass FCA (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd

10. RELATED PARTY TRANSACTIONS

As the company is a wholly owned subsidiary of ORTEC International B.V., the company has taken advantage of the exemption contained within FRS 102 33.1A and has therefore not disclosed transactions or balances with the wholly owned entities which form part of the group.

There are no other related party transactions requiring disclosure.

11. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The ultimate parent undertaking is Battery Ventures LP, which owns 60% of the immediate parent company, ORTEC Optimization Technology B.V.

The parent undertaking, of the largest group for which consolidated accounts are prepared is ORTEC International B.V. and the smallest group is ORTEC Optimization Technology B.V. The consolidated financial statements of these groups are available to the public and may be obtained from Houtsingel 5, 2719 EA, Zoetermeer, The Netherlands.

It is considered that no single one party or person has ultimate control of the company.