Registration number: NI721409

Oratec Limited

(Registration number: NI721409)
Balance Sheet as at 30 September 2025

	Note	2025 £
Fixed assets
Tangible assets	4	3,957
Current assets
Debtors	5	10,147
Cash at bank and in hand		19,446
		29,593
Creditors: Amounts falling due within one year	6	(17,716)
Net current assets		11,877
Total assets less current liabilities		15,834
Provisions for liabilities		(989)
Net assets		14,845
Capital and reserves
Called up share capital	7	1
Retained earnings		14,844
Shareholders' funds		14,845

For the financial period ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 June 2026
 

......................................... Mr Terence McGrath Director

Oratec Limited

Notes to the Unaudited Financial Statements for the Period from 19 September 2024 to 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 29 Breda Gardens, Belfast, BT8 6BZ.

These financial statements were authorised for issue by the director on 16 June 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Oratec Limited

Notes to the Unaudited Financial Statements for the Period from 19 September 2024 to 30 September 2025

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, Fittings and Equipment	20% reducing balance
Plant	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Oratec Limited

Notes to the Unaudited Financial Statements for the Period from 19 September 2024 to 30 September 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

Oratec Limited

Notes to the Unaudited Financial Statements for the Period from 19 September 2024 to 30 September 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Plant £	Total £
Cost or valuation
Additions	3,540	999	4,539
At 30 September 2025	3,540	999	4,539
Depreciation
Charge for the period	499	83	582
At 30 September 2025	499	83	582
Carrying amount
At 30 September 2025	3,041	916	3,957

5

Debtors

Current	2025 £
Trade debtors	9,058
Prepayments	1,089
	10,147

6

Creditors

Creditors: amounts falling due within one year

	2025 £
Due within one year
Taxation and social security	15,168
Accruals and deferred income	2,445
Other creditors	103
	17,716

Oratec Limited

Notes to the Unaudited Financial Statements for the Period from 19 September 2024 to 30 September 2025

7	Share capital

Allotted, called up and fully paid shares

	2025
	No.	£
Ordinary Shares of £1 each	1	1

8	Related party transactions

	2025  £
Directors current account	(103)