ORION MEDTECH LTD C.I.C.

Company Registration Number:
11589078 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

ORION MEDTECH LTD C.I.C.

Contents of the Financial Statements

for the Period Ended 31 May 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

ORION MEDTECH LTD C.I.C.

Directors' report period ended 31 May 2024

The directors present their report with the financial statements of the company for the period ended 31 May 2024

Principal activities of the company

The principal activity of the company during the period was that of providing information technology services.



Directors

The directors shown below have held office during the whole of the period from
1 June 2023 to 31 May 2024

Dr. A Joannides
Dr.P.H. Jarritt
Pr. J.D.P Pickard


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
3 March 2025

And signed on behalf of the board by:
Name: Dr. A Joannides
Status: Director

ORION MEDTECH LTD C.I.C.

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 247,603 281,032
Cost of sales: ( 236,085 ) ( 266,997 )
Gross profit(or loss): 11,518 14,035
Administrative expenses: ( 18,885 ) ( 20,969 )
Operating profit(or loss): (7,367) (6,934)
Profit(or loss) before tax: (7,367) (6,934)
Profit(or loss) for the financial year: (7,367) (6,934)

ORION MEDTECH LTD C.I.C.

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 721 901
Total fixed assets: 721 901
Current assets
Debtors: 4 55,400 38,600
Cash at bank and in hand: 13,817 38,649
Total current assets: 69,217 77,249
Creditors: amounts falling due within one year: 5 ( 15,175 ) ( 16,020 )
Net current assets (liabilities): 54,042 61,229
Total assets less current liabilities: 54,763 62,130
Total net assets (liabilities): 54,763 62,130
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 53,763 61,130
Total Shareholders' funds: 54,763 62,130

The notes form part of these financial statements

ORION MEDTECH LTD C.I.C.

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 3 March 2025
and signed on behalf of the board by:

Name: Dr. A Joannides
Status: Director

The notes form part of these financial statements

ORION MEDTECH LTD C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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.

    Tangible fixed assets depreciation policy

    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: Fixtures and fittings - 20% reducing balance

ORION MEDTECH LTD C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 2

ORION MEDTECH LTD C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2023 1,126 1,126
Additions
Disposals
Revaluations
Transfers
At 31 May 2024 1,126 1,126
Depreciation
At 1 June 2023 225 225
Charge for year 180 180
On disposals
Other adjustments
At 31 May 2024 405 405
Net book value
At 31 May 2024 721 721
At 31 May 2023 901 901

ORION MEDTECH LTD C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Debtors

2024 2023
£ £
Trade debtors 55,400 38,600
Total 55,400 38,600

ORION MEDTECH LTD C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 1,908 1,908
Other creditors 13,267 14,112
Total 15,175 16,020

COMMUNITY INTEREST ANNUAL REPORT

ORION MEDTECH LTD C.I.C.

Company Number: 11589078 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

Throughout the financial year to May 2024 (FY 2023/24), Orion MedTech Ltd CIC (Orion) has met its objectives to promote high quality healthcare in the UK through the following activities: The Orion Software-as-a-Service (SaaS) platform continues to be developed as a core output providing a tool for NHS service provision and healthcare research, and is used in more than 60 healthcare and academic institutions across the UK. The platform offers specialist disease registries and patient pathway tracking tools for NHS institutions, mostly in the specialist areas of neuroscience and Brain cancer. Orion is well positioned within the neurosciences registry sector. Orion's relatively low overhead costs and status as a Commercial Interest Company (CIC) put it in a favourable position to offer digital-first registries to areas of low incidence and niche interest, within which the larger, more commercial software platforms are reluctant to operate. Due to the scalability of the software, Orion has been able to pump-prime registry projects without any up-front payments. The latest of these addresses a growing need in the NHS to better monitor high-complexity, low-volume neurovascular pathologies. Working with a number of NHS Trusts and specialist clinicians, Orion was able to develop a new national registry which is offered for free at the point of use to NHS providers. During the FY 2023/24, Orion has improved and more widely implemented a patient portal that gives patients access to their medical implant information. In addition, it offers an opportunity to easily register their interest in research via a collaboration with the National Institute for Health and Care Research (NIHR) HealthTech Research Centre for Brain Injury (Brain Injury HRC). Patient and carer involvement continues to be an area of growing importance for Orion. A 5-year contract with the Brain Injury HRC was established towards the close of the FY 2023/24, and through it Orion provides advice and services to Innovators, Start-ups and SMEs who are seeking to develop solutions to help the NHS meet healthcare needs, often on a pro-bono basis. To better help deliver this support, in April 2024 Orion appointed a full-time medtech regulatory expert. The additional post has already made an impact on Orion, improving regulatory compliance of its own products, and offering expert advice to a number of innovative medtech SMEs. Building on the previous year, the data science department of Orion continues to publish benchmark reports to NHS providers. During the FY 2023/24 138 surgical procedure registry reports were issued to NHS specialist centres, covering a range of neurosurgery procedures not reported on by any other organisation. These reports help identify trends in surgical procedures and outcomes for seriously ill patients receiving treatment in NHS specialist centres. In addition, Orion MedTech has continued to support academic research in the field of medicine, contributing to a number of academic conferences and poster presentations. Finally, throughout the FY 2023/24 Orion continued to provide SaaS solutions and ongoing support to 41 NHS Trusts, much of which is made available without charge, or at cost.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
3 March 2025

And signed on behalf of the board by:
Name: Dr. A Joannides
Status: Director