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Elos Medtech UK Limited
























Financial statements



For the year ended 31 December 2024



Registered number: 14842993

 
Elos Medtech UK Limited - Registered number:14842993


Statement of financial position
As at 31 December 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Current assets
  

Debtors
 4 
59,837
16,312

Cash at bank and in hand
  
27,651
7,734

  
87,488
24,046

Creditors: amounts falling due within one year
 5 
(78,102)
(43,547)

Net current assets/(liabilities)
  
 
 
9,386
 
 
(19,501)

Total assets less current liabilities
  
9,386
(19,501)

  

Net assets/(liabilities)
  
9,386
(19,501)


Capital and reserves
  

Share capital
  
1
1

Profit and loss account
  
9,385
(19,502)

  
9,386
(19,501)


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 statement of income and retained earnings 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 signed on its behalf by:




................................................
E Linsater
Director

Date: 21 May 2025

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
Elos Medtech UK Limited
 
 

Notes to the financial statements
For the year ended 31 December 2024

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales. The registered office of the company is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL. The company registration number is 14842993.

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 Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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 Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
Elos Medtech UK Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.3

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:

Rendering of services

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.

 
2.4

Pensions

Defined contribution pension plan

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.


 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 3

 
Elos Medtech UK Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
59,837
15,880

Prepayments
-
432

59,837
16,312



5.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
1,479
3,930

Corporation tax
3,515
-

Other taxation and social security
29,199
18,376

Other creditors
2,821
-

Accruals
41,088
21,241

78,102
43,547



6.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from
those of the company in independently administered funds. The pension cost charge represents contributions
payable by the company to the fund and amounted to £15,925 (2023: £2,190). Contributions totalling £2,821
(2023: £nil) were payable to the fund at the reporting date and are included in creditors.

Page 4

 
Elos Medtech UK Limited
 
 

Notes to the financial statements
For the year ended 31 December 2024

7.


Controlling party

The immediate parent of the company during the period ended 31 December 2024 is Elos Medtech AB and the ultimate controlling party is TA Associates Management LLP.
The smallest and largest group for which consolidated financial statements are prepared, which include the company, is Elos Medtech AB. Its registered office address is Torsgatan 5B, Goteborg, SE-411 04, Sweden.


8.


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 22 May 2025 by Philip Vipond (Senior statutory auditor) on behalf of EVMS Partners LLP.

Page 5