Year Ended
Registration number:
Origio Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Origio Limited
Company Information
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Directors |
B G Andrews N A Penfold J Thomas |
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Registered office |
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Auditors |
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Origio Limited
Strategic Report for the Year Ended 31 October 2025
The directors present their strategic report for the year ended 31 October 2025.
Principal activity
The principal activity of the company is the distribution of solutions for use in invitro culture of gametes, embryos and mammalian cells. In addition to other equipment for use in assisted reproduction technology (ART).
Origio Limited is an affiliated company of CooperSurgical, the global leader in IVF and reproductive genetics, providing innovative products and services for every step in the ART journey. The company’s vision is a world with healthy women, babies and families.
Business Review
The results for the year and the financial position of the company are as shown in the financial statements. The financial highlights for the year were as follows:
The operating profit for the year was £610k (2024: £487k).
In the year, the company had a profit before tax of £655k (2024: £493k).
At the end of the year, the company had net assets of £3,195k (2024: £2,696k).
Key Performance Indicators
The Directors consider the key performance indicators to be:
Revenue
Increase of 23% (2024: 6%) in the year.
Revenue growth continues to outperform the market. The increase in revenue is driven by our continued engagement with clinics to deliver customised solutions tailored to optimise fertility success.
Non-financial KPIs
The Directors also review other KPI’s, such as UK market share, to evaluate the year. Origio has continued to grow its market share in the UK and Ireland.
The KPIs are in line with expectations and the Directors are comfortable that they will allow the company to fulfill its objectives.
Principal risks and uncertainties
As part of the CooperSurgical group, the risks and uncertainties that the Company faces are closely linked to the risks and uncertainties faced by the ultimate parent company, The Cooper Companies Inc.
Approved by the
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Origio Limited
Directors' Report for the Year Ended 31 October 2025
The directors present their report and the financial statements for the year ended 31 October 2025.
Directors of the company
The directors who held office during the year were as follows:
The following director was appointed after the year end:
Information included in the Strategic Report
Details of the Company's principal activity, its principal risks and uncertainties, and its key performance indicators can be found in the Business Review within the Strategic Report.
Financial instruments
Price risk, credit risk, liquidity risk and cash flow risk
Raw material price risk - The Company manages the risk of price rises through maintaining strong relationships with key suppliers.
Credit risk - The Company manages its credit risk through the establishment of credit limits on its customer ledger and request payments on account when deemed necessary.
Liquidity risk and Cash flow risk - The Company utilises a combination of short term and long term debt finance to ensure that it retains sufficient cash to fund operations.
Emissions and energy consumption
The Company qualifies as a low energy user, having consumed no more than 40,000 kWh of energy in the UK during the year (2024: no more than 40,000 kWh). Accordingly, under the Streamlined Energy and Carbon Reporting Regulations, it is not required to report its energy and carbon information.
Origio Limited
Directors' Report for the Year Ended 31 October 2025
Going concern
The financial statements have been prepared on a going concern basis which the directors consider to be appropriate.
In forming this view, the directors have considered the future cashflow position of the company and assessed the company’s ability to continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements (the “going concern assessment period”).
The company is a subsidiary of The Cooper Companies, which operates the Cooper Surgical Worldwide business which has been innovating in the fertility and women’s health field for over 30 years. As leaders in the industry, they have pioneered new technologies that are changing the landscape of how women, babies, and families are cared for. The UK business is an integral part of the global operations of CooperSurgical. The directors have no indication that there will be any change to the way the business operates in the UK for the foreseeable future.
Whilst the directors have no indication that additional funding is required, the company has the continued financial support from its ultimate parent company, The Cooper Companies Inc.
The Cooper Companies has indicated its intention to make available funding to cover intercompany and other external liabilities for the companies, this includes agreeing that intercompany creditor balances will not be called in within 12 months from the date of the approval of the financial statements, unless the company is in a position to be able to repay this balance. This financial support will continue in place for at least a period covering 12 months from the date of the approval of these financial statements.
As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the
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Origio Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Origio Limited
Independent Auditor's Report to the Members of Origio Limited
Opinion
We have audited the financial statements of Origio Limited (the 'company') for the year ended 31 October 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 October 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Origio Limited
Independent Auditor's Report to the Members of Origio Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Origio Limited
Independent Auditor's Report to the Members of Origio Limited
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of our audit planning, we obtained an understanding of the legal and regulatory framework that is applicable to the entity and the industry in which it operates to identify the key laws and regulations affecting the entity.
The key laws and regulations we identified were licencing laws, employment law, health and safety, data protection and company legislation.
We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, primarily Companies Act 2006, compliance with FRS 102 and corporation tax laws.
We discussed with management how the compliance with these laws and regulations is monitored and discussed policies and procedures in place and we enquired with the internal legal department to understand how any issues with compliance with laws and regulations are reported. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the entity's ability to continue trading and the risk of material misstatement to the accounts.
Based on this understanding, we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:
• Enquiries of management regarding their knowledge of any non compliance with laws and regulations that could affect the financial statements.
• Considering the filings made at Companies House, and any omissions thereon.
• Discussing with management compliance with licencing legislation and health and safety legislation.
• Reviewed legal and professional costs to identify any possible non-compliance or legal costs in respect of non-compliance.
As part of our enquiries, we discussed with management whether there have been any known instances, allegations or suspicions of fraud.
We also evaluated the risk of fraud through management override including that arising from management's incentives. The key risks we identified were group targets and we determined that the principal risks were related to overstatement of profit, either through overstating revenue or management bias in accounting estimates.
In response to the identified risk, as part of our audit work we:
• Tested the existence of revenue by sample testing transactions through to cash received and challenging the recoverability of any outstanding trade debtors at year end.
• Used data analytics to test journal entries throughout the year, for appropriateness.
• Reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
Origio Limited
Independent Auditor's Report to the Members of Origio Limited
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of our audit planning, we obtained an understanding of the legal and regulatory framework that is applicable to the entity and the industry in which it operates to identify the key laws and regulations affecting the entity.
The key laws and regulations we identified were licencing laws, employment law, health and safety, data protection and company legislation.
We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, primarily Companies Act 2006, compliance with FRS 102 and corporation tax laws.
We discussed with management how the compliance with these laws and regulations is monitored and discussed policies and procedures in place and we enquired with the internal legal department to understand how any issues with compliance with laws and regulations are reported. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the entity's ability to continue trading and the risk of material misstatement to the accounts.
Based on this understanding, we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:
• Enquiries of management regarding their knowledge of any non compliance with laws and regulations that could affect the financial statements.
• Considering the filings made at Companies House, and any omissions thereon.
• Discussing with management compliance with licencing legislation and health and safety legislation.
• Reviewed legal and professional costs to identify any possible non-compliance or legal costs in respect of non-compliance.
As part of our enquiries, we discussed with management whether there have been any known instances, allegations or suspicions of fraud.
We also evaluated the risk of fraud through management override including that arising from management's incentives. The key risks we identified were group targets and we determined that the principal risks were related to overstatement of profit, either through overstating revenue or management bias in accounting estimates.
In response to the identified risk, as part of our audit work we:
• Tested the existence of revenue by sample testing transactions through to cash received and challenging the recoverability of any outstanding trade debtors at year end.
• Used data analytics to test journal entries throughout the year, for appropriateness.
• Reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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Melville Building East
Unit 18, 23 Royal William Yard
Devon
PL1 3GW
Origio Limited
Profit and Loss Account
Year Ended 31 October 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
609,790 |
487,348 |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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45,620 |
5,908 |
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Profit before tax |
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Tax on profit |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Origio Limited
Balance Sheet
31 October 2025
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Note |
2025 |
2024 |
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Fixed assets |
|||
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Intangible assets |
- |
- |
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Tangible assets |
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Other financial assets |
816 |
816 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
3 |
3 |
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Share premium reserve |
870,886 |
870,886 |
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Other reserves |
424,998 |
424,998 |
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Profit and loss account |
1,899,494 |
1,400,016 |
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Shareholders' funds |
3,195,381 |
2,695,903 |
Approved and authorised by the
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Company Registration Number: 03221787
Origio Limited
Statement of Changes in Equity
Year Ended 31 October 2025
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Share capital |
Share premium |
Other reserves |
Profit and loss account |
Total |
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At 1 November 2024 |
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Profit for the year |
- |
- |
- |
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At 31 October 2025 |
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Share capital |
Share premium |
Other reserves |
Profit and loss account |
Total |
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At 1 November 2023 |
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Profit for the year |
- |
- |
- |
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At 31 October 2024 |
3 |
870,886 |
424,998 |
1,400,016 |
2,695,903 |
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
United Kingdom
The principal place of business is:
Translation & Innovation Hub
84 Wood Lane
London
W12 0BZ
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
The financial statements are prepared in sterling which is the functional currency of the company. All values are rounded to the nearest whole pound (£), except where otherwise indicated.
Changes to FRS102 in future periods
The Financial Reporting Council has published changes to FRS 102 which will take effect in financial statements for periods ending 31 October 2027. The main rule changes are to revenue and leases.
There is no requirement to restate figures from previous years, so we do not expect any changes to the figures we report here for the year to October 2025 or any earlier periods.
Currently, we do not expect there to be any impact to how revenue and leases are accounted for under the existing rules.
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Exemptions for qualifying entities under FRS102
FRS102 allows a qualifying entity certain disclosure exemptions, which are subject to certain conditions being adhered to. As the company is a wholly owned subsidiary, and is included in the consolidated accounts of the ultimate parent company, which are available at the address specified in note 23, the company has therefore taken advantage of the following exemptions:
• From preparing a statement of cash flows, on the basis that it is a qualifying entity and the consolidated financial statements of The Cooper Companies Inc include the cash flows of this company;
• From the financial instrument disclosures, required under FRS102 paragraphs 11.39 to 11.48A and paragraphs 12.26 to 12.29 as the information is provided in the consolidated financial statement disclosures;
• From disclosing transactions with other wholly owned members of the group, under FRS102 paragraph 33.1A;
• From disclosing the company key management personnel compensation, as required by FRS102 paragraph 33.7.
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Going concern
The financial statements have been prepared on a going concern basis which the directors consider to be appropriate.
In forming this view, the directors have considered the future cashflow position of the company and assessed the company’s ability to continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements (the “going concern assessment period”).
The company is a subsidiary of The Cooper Companies, which operates the Cooper Surgical Worldwide business which has been innovating in the fertility and women’s health field for over 30 years. As leaders in the industry, they have pioneered new technologies that are changing the landscape of how women, babies, and families are cared for. The UK business is an integral part of the global operations of CooperSurgical. The directors have no indication that there will be any change to the way the business operates in the UK for the foreseeable future.
Whilst the directors have no indication that additional funding is required, the company has the continued financial support from its ultimate parent company, The Cooper Companies Inc.
The Cooper Companies has indicated its intention to make available funding to cover intercompany and other external liabilities for the companies, this includes agreeing that intercompany creditor balances will not be called in within 12 months from the date of the approval of the financial statements, unless the company is in a position to be able to repay this balance. This financial support will continue in place for at least a period covering 12 months from the date of the approval of these financial statements.
As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
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 value added tax, returns, rebates and discounts and after eliminating sales within the company.
Turnover is recognised on delivery of goods to the end customer. Goods in transit are held as stock with the associated income deferred until delivery is complete.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
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.
The current corporation 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 on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Intangible assets
Intangibles assets are initially recognised at cost. After recognition, under the cost model, intangibles assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
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Customer lists |
Straight line over 5 years |
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:
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Asset class |
Depreciation method and rate |
|
Plant and machinery |
Straight line over 3 years |
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Furniture, fittings and equipment |
Straight line over 3-7 years |
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
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.
Critical accounting judgements and estimation uncertainty
In the application of the company’s accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key estimates that have a significant effect on the amounts recognised in the financial statements are described below:
Bad debt provision (Note 14)
Management concluded that a provision of £244,940 (2024: £446,657) was required against trade debtors in the company. The carrying amount is £4,532,351 (2024: £4,424,453).
Functional and presentational currency
Management have exercised judgement on the primary economic environment in which the Company operates and concluded that pound sterling (£) is both the functional and presentational currency for the Company. These financial statements are rounded to the nearest pound.
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
|
Revenue |
The analysis of the company's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
The analysis of the company's Turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Foreign exchange losses |
|
|
|
Operating lease expense - property |
|
|
|
Operating lease expense - plant and machinery |
|
- |
|
Movement in bad debt provision and bad debt expense |
(185,590) |
(607,339) |
Within operating lease expense - property includes a rent expense of £73,325 (2024 - £22,315). This was the recharge of a leased property from another group company, Research Instruments Limited.
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
|
|
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
174,197 |
181,817 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
|
Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
- |
|
Other finance income |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
|
|
158,111 |
91,797 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Decrease in UK and foreign current tax from unrecognised temporary difference from a prior period |
( |
( |
|
Total tax charge |
|
|
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
Deferred tax
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Timing differences |
|
- |
|
Accelerated capital allowances |
- |
|
|
|
|
|
2024 |
Asset |
Liability |
|
Timing differences |
|
- |
|
Accelerated capital allowances |
- |
|
|
|
|
Pillar Two legislation
The company is a member of The Cooper Companies Group which is expected to be a multinational enterprise within the scope of Pillar Two from the 1 November 2024.
The Cooper Companies Group has carried out a high level assessment of the impact of Pillar Two and it is expected that there will not be a material impact on the group in the short term.
|
Intangible assets |
|
Customer lists |
Total |
|
|
Cost or valuation |
||
|
At 1 November 2024 |
|
|
|
At 31 October 2025 |
|
|
|
Amortisation |
||
|
At 1 November 2024 |
|
|
|
At 31 October 2025 |
|
|
|
Carrying amount |
||
|
At 31 October 2025 |
- |
- |
|
At 31 October 2024 |
- |
- |
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
|
Tangible assets |
|
Furniture, fittings and equipment |
Other tangible assets |
Assets under construction |
Total |
|
|
Cost or valuation |
||||
|
At 1 November 2024 |
|
|
- |
|
|
Additions |
|
- |
|
|
|
At 31 October 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 November 2024 |
|
|
- |
|
|
Charge for the year |
|
- |
- |
|
|
At 31 October 2025 |
|
|
- |
|
|
Carrying amount |
||||
|
At 31 October 2025 |
|
- |
|
|
|
At 31 October 2024 |
|
- |
- |
|
|
Stocks |
|
2025 |
2024 |
|
|
Other inventories |
49,321 |
34,292 |
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
|
|
As at the year end, provisions against trade debtors were £244,940 (2024: £446,657).
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
|
Other investments |
|
Financial assets at cost less impairment |
Total |
|
|
Non-current financial assets |
||
|
Cost or valuation |
||
|
At 1 November 2024 |
816 |
816 |
|
At 31 October 2025 |
816 |
816 |
|
Carrying amount |
||
|
At 31 October 2025 |
|
816 |
|
At 31 October 2024 |
|
816 |
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Amounts due to group undertakings |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other creditors |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax - amounts due in respect of group tax relief |
166,684 |
6,283 |
|
|
|
|
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
- |
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 November 2024 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 October 2025 |
|
|
|
|
||
|
Reserves |
Called up share capital
Called up share capital represents the nominal value of shares that have been issued.
Share premium reserve
The share premium reserve represents the consideration received in excess of the nominal value of shares issued.
Other reserve
Relates to a capital contribution arising from the capitalisation of financial liabilities previously owed to a group undertaking.
Profit and loss reserve
The profit and loss account reflects the company's accumulated earnings less dividends paid and payable.
Origio Limited
Notes to the Financial Statements
Year Ended 31 October 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
3 |
|
3 |
Rights, preferences and restrictions
|
Ordinary shares have the following rights, preferences and restrictions: |
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
6101 Bollinger Canyon Road
Suite 500
San Ramon
CA 94583
USA
The ultimate controlling party is
Relationship between entity and parents
The parent of the smallest group in which these financial statements are consolidated is The Cooper Companies, Inc., incorporated in The United States of America.
The address of The Cooper Companies, Inc. is:
The Cooper Companies Inc.
6101 Bollinger Canyon Road
Suite 500
San Ramon
CA 94583
USA