for the Period Ended 31 May 2024
| Directors report | |
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 May 2024
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
1 June 2023
to
31 May 2024
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
| 2024 | 2023 | |
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£ |
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| Turnover: |
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| Cost of sales: |
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| Gross profit(or loss): |
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| Administrative expenses: |
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| Operating profit(or loss): |
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| Profit(or loss) before tax: |
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| Profit(or loss) for the financial year: |
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As at
| Notes | 2024 | 2023 | |
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| Fixed assets | |||
| Tangible assets: | 3 |
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| Debtors: | 4 |
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| Cash at bank and in hand: |
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| Total current assets: |
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| Creditors: amounts falling due within one year: | 5 |
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(
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| Net current assets (liabilities): |
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| Total assets less current liabilities: |
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| Total net assets (liabilities): |
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| Capital and reserves | |||
| Called up share capital: |
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| Profit and loss account: |
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| Total Shareholders' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 May 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
for the Period Ended 31 May 2024
| 2024 | 2023 | |
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| Average number of employees during the period |
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for the Period Ended 31 May 2024
| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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| Cost | £ | £ | £ | £ | £ | £ |
| At 1 June 2023 |
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| At 31 May 2024 |
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| At 31 May 2024 |
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| At 31 May 2023 |
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for the Period Ended 31 May 2024
| 2024 | 2023 | |
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| £ | £ | |
| Trade debtors |
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| Total |
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for the Period Ended 31 May 2024
| 2024 | 2023 | |
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| £ | £ | |
| Taxation and social security |
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| Other creditors |
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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.
No consultation with stakeholders
No remuneration was received
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