REGISTERED NUMBER: 02757568 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Oakmed Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V Smears

D Kropf

REGISTERED OFFICE:

Unit B The IO Centre

Barn Way

Lodge Farm Industrial Estate

Northampton

Northamptonshire

NN5 7UW

REGISTERED NUMBER:

02757568 (England and Wales)

AUDITORS:

CED Accountancy Services Limited

Registered Auditors

Chartered Accountants

1 Lucas Bridge Business Park

Old Greens Norton Road

Towcester

Northamptonshire

NN12 8AX

FIXED ASSETS

Intangible assets

4

3,762,570

602

Tangible assets

5

429,804

368,554

4,192,374

369,156

CURRENT ASSETS

Stocks

3,269,129

2,897,945

Debtors

4,408,285

3,870,655

Cash at bank and in hand

2,229,427

2,352,189

9,906,841

9,120,789

CREDITORS

Amounts falling due within one year

1,042,440

1,129,536

NET CURRENT ASSETS

8,864,401

7,991,253

TOTAL ASSETS LESS CURRENT LIABILITIES

13,056,775

8,360,409

CREDITORS

Amounts falling due after more than one year

4,286,440

-

NET ASSETS

8,770,335

8,360,409

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,770,235

8,360,309

SHAREHOLDERS' FUNDS

8,770,335

8,360,409

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2025 and were signed on its behalf by:

V Smears - Director

D Kropf - Director

1.	STATUTORY INFORMATION

Oakmed Ltd 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.

Significant judgements and estimates

Key sources of estimation uncertainty :

Preparation of the financial statements requires management to make significant, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following are areas of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year:

The company acquired the assets of a business in the year . As stated (see Business combination note and the goodwill note) the assets acquired are measured at their fair value. The valuation of the intangible assets acquired includes estimation uncertainty because key assumptions are applied in estimating the expected performance of the acquired business assets, and the expected performance is discounted using an estimated interest rate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill represents the difference between the cost of a business combination and the fair value of the identifiable assets and liabilities of the acquiree at the acquisition date. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation. Goodwill is being amortised on a straight-line basis over its useful economic life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost and 10% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FRS102 requires that non-monetary assets are translated using the exchange rate at the date of the transaction. The company applies FRS102 by re-translating it's Euro denominated year end stock balances at a single rate which reflects the historical exchange rates that applied when the stock was acquired.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Business combinations

Acquisitions of subsidiaries and businesses are accounted for using the purchase method. Any excess of the cost of the business combination over the net fair value of the identifiable assets and liabilities is recognised as goodwill.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

602

Additions

3,793,582

At 31 December 2024

3,794,184

AMORTISATION

Amortisation for year

31,614

At 31 December 2024

31,614

NET BOOK VALUE

At 31 December 2024

3,762,570

At 31 December 2023

602

On 3rd December 2024, Oakmed Limited acquired the assets and trade of another business. The goodwill on acquisition was valued at £2,524,274.

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

1,035,272

Additions

206,075

Disposals

(73,642

)

At 31 December 2024

1,167,705

DEPRECIATION

At 1 January 2024

666,718

Charge for year

144,825

Eliminated on disposal

(73,642

)

At 31 December 2024

737,901

NET BOOK VALUE

At 31 December 2024

429,804

At 31 December 2023

368,554

The net amount of assets held under hire purchase contracts was £7,775 (December 2023 - £20,163).

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

7,775

18,142

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

36,111

27,500

Between one and five years

213,900

18,341

In more than five years

35,894

-

285,905

45,841

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

7,775

18,142

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

The Report of the Auditors was unqualified.

Duncan J E Mitchell FCA (Senior Statutory Auditor)

for and on behalf of CED Accountancy Services Limited

9.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Duke Street LLP (a Limited Liability partnership registered and incorporated in the United Kingdom).