CIPHER SURGICAL LIMITED

FLOOR 3, 1 - 4 ATHOLL CRESCENT, EDINBURGH, EH3 8HA

Previous name: GAG312 LIMITED (changed on 27-May-2010)

Company Number: SC378738
Incorporation date: 18-May-2010
Status: Active
Entity type: Private Limited Company

SIC codes:
26701 Manufacture of optical precision instruments
32500 Manufacture of medical and dental instruments and supplies
86900 Other human health activities

SUMMARY

This company is 13.9 years old and is currently active. The company has negative equity (net assets) of GBP -176.5 thousand which has worsened since the previous year's figure of GBP 1.1 million. The company is both loss making and has negative equity, it is therefore likely to go bankrupt unless it can raise funding or business has improved since the last accounts were filed. Retained earnings is negative (GBP -15.8 million), which means the company has aggregate losses since it's inception or it has paid more dividends than it can afford; given the company's age, this is a sign of serious financial problems. The company has 5 active officers (directors or partners) who are or were officers of 16 other companies, 7 (43.8%) of which have since been dissolved or are proposed for strike off. The company has no public disputes filed on the Business Disputes Register. There is one court case involving the company that we are aware of.

FINANCIALS (BETA)

Next accounts due: 30-Apr-2025
Accounts Filed: TOTAL EXEMPTION FULL (31-Jul-2023)

P&L Financials:

Year end	Currency	Net Profit GBP
31-Jul-2022	GBP	-2,045,167
31-Jul-2021	GBP	-1,842,844
31-Jul-2020	GBP	-1,599,814
31-Jul-2019	GBP	-1,845,070
31-Jul-2018	GBP	-1,505,510
31-Jul-2017	GBP	-1,590,336
31-Jul-2016	GBP	-1,080,367

No P&L data available

Balance Sheet Financials:

Year end	Currency	Cash	Current Assets	Current Liabilities	Debt	Share Capital	Premium Reserve	Retained Earnings	Net Assets
31-Jul-2022	GBP	85,224	1,440,654	461,623	1,269,564	6,559	14,605,997	-15,836,853	-176,458
31-Jul-2021	GBP	810,342	1,387,953	156,848	200,057	4,938	14,206,010	-13,791,686	1,148,821
31-Jul-2020	GBP	17,110	381,404	257,692	200,057	4,175	11,601,936	-11,948,842	61,444
31-Jul-2019	GBP	698,646	1,208,832	249,449	302,452	3,671	10,668,616	-10,349,028	708,434
31-Jul-2018	GBP	1,364,879	1,713,308	378,444	302,452	3,393	9,235,088	-8,503,958	1,094,814
31-Jul-2017	GBP	495,600	748,172	116,927	302,452	2,858	7,052,195	-6,998,448	409,331
31-Jul-2016	GBP	575,648	111,002	117,409	302,452	2,781	5,889,261	-5,408,112	483,930
31-Jul-2015	GBP	369,748	621,159	136,569	302,452	2,291	4,542,952	-4,327,745	217,498
31-Jul-2014	GBP	256,502	448,095	70,448	44,952	2,243	3,820,150	-3,379,142	443,251
31-Jul-2013	GBP	530,364	858,108	144,658	44,952	1,802	3,205,972	-2,369,352	838,422

VALUATION EVENTS (BETA)

Year end	Currency	% Equity	Sum raised	Pre-Money Valuation*	Post-Money Valuation*	Enterprise Value**
31-Jul-2022	GBP	24.71%	401,608	1,223,405	1,625,013	1,711,237
31-Jul-2021	GBP	15.45%	2,604,837	14,253,204	16,858,041	15,341,953
31-Jul-2020	GBP	12.07%	933,824	6,801,722	7,735,546	7,162,011
31-Jul-2019	GBP	7.57%	1,433,806	17,499,654	18,933,460	17,487,246
31-Jul-2018	GBP	15.77%	2,183,428	11,663,995	13,847,423	12,127,921
31-Jul-2017	GBP	2.69%	1,163,011	42,004,332	43,167,343	42,352,666
31-Jul-2016	GBP	17.62%	1,346,799	6,296,972	7,643,771	6,800,126
31-Jul-2015	GBP	2.10%	722,850	33,778,178	34,501,028	34,000,180
31-Jul-2014	GBP	19.66%	614,619	2,511,436	3,126,055	2,470,265

* Average valuation during the period
** Estimated based on average Cash and Debt levels during period

DISPUTES

No disputes filed on www.disputesregister.org

COMPANY SECRETARY

Status	Name	Appointed on	Resigned on	Occupation	Nationality	All apointments (active/resigned)
Active	URY COMPANY SERVICES LIMITED	18 May 2010	16 Apr 2024			1 - 0

DIRECTORS

Status	Name	Appointed on	Resigned on	Occupation	Nationality	All appointments (active/resigned)	Dissolved companies (rate)
Resigned	Michael Clive HERBERT	20 May 2021	23 Nov 2021	Director	British	9 - 12	0 (0.0%)
Active	Yuanyuan WU	25 Jan 2018		Director And Vice President	Chinese	1 - 0	0 (0.0%)
Active	Gerard Sibbald WALLACE	25 Mar 2015		None	New Zealander	1 - 0	0 (0.0%)
Resigned	Justin Wavel Rosenfelder BUCH	26 Feb 2014	02 Oct 2023	Operations Director	British	0 - 1	0 (0.0%)
Active	Nicholas Simon Macpherson, Mr. JOHNSTON	20 Feb 2013		Banker	British	1 - 1	0 (0.0%)
Resigned	Paul MARKGRAF	28 Jan 2011	20 Feb 2013	Company Director	British	0 - 4	0 (0.0%)
Resigned	Anthony Graham KING	06 Dec 2010	03 Dec 2018	Director	British	0 - 2	1 (50.0%)
Active	Michael John MCMAHON	17 Aug 2010		Director	British	1 - 5	1 (16.7%)
Resigned	Fraser HARVIE	15 Jun 2010	04 Jan 2013	Scientist	British	0 - 3	1 (33.3%)
Active	Andrew NEWELL	15 Jun 2010		Company Director	British	2 - 11	7 (53.8%)
Resigned	Neil Roderick WALMSLEY	18 May 2010	15 Jun 2010	Solicitor	British	5 - 323	139 (42.4%)
Resigned	Simon Timothy James RATCLIFFE	18 May 2010	15 Jun 2010	Solicitor	British	3 - 145	67 (45.3%)

Number of active directors: 5
Average tenure of active directors: 10.8 years
Average tenure of resigned directors: 3.3 years
Average active director Dissolution Rate: 14.1%

DIRECTOR APPOINTMENTS IN OTHER COMPANIES

Name	Yuanyuan WU	Gerard Sibbald WALLACE	Nicholas Simon Macpherson, Mr. JOHNSTON	Michael John MCMAHON	Andrew NEWELL
SURGICAL INNOVATIONS GROUP PLC (02298163) - Active				✔
SURGICAL INNOVATIONS LIMITED (02682144) - Active				✔
ASGBI CHARITY (03476019) - Active				✔
EXOMEDICA LIMITED (05044775) - Active					✔
BLUEROSE PRINT LIMITED (05174900) - Dissolved					✔
VIO HEALTHTECH LIMITED (05546719) - Active					✔
A-FIX ORTHOPAEDICS LIMITED (05580820) - Active					✔
ABACUS DEVICES LTD (05580823) - Dissolved					✔
PULSE DIAGNOSTICS LIMITED (05663312) - Active					✔
HEARTVALVE LIMITED (05720857) - Dissolved					✔
ZILICO LIMITED (05724284) - Active					✔
OPT REALISATIONS LIMITED (05800187) - Dissolved					✔
EXOMEDICA MANAGEMENT SERVICES LIMITED (05857072) - Dissolved					✔
SUTUROX LIMITED (06113264) - Dissolved					✔
ACUITY DIAGNOSTICS LIMITED (06648613) - Dissolved					✔
AS STATED LIMITED (07132792) - Dissolved				✔
CIPHER SURGICAL LIMITED (SC378738) - Active	✔	✔	✔	✔	✔

SHAREHOLDERS (BETA)

No shareholder data available

SHAREHOLDINGS (BETA)

no shareholding data

CONTROLLED COMPANIES / CONTROLLING ENTITIES

no controlling companies

CIPHER SURGICAL LIMITED

no controlled companies

LATE PAYMENTS REPORT

This company has not filed any late payment reports possibly because it is not considered \'Large\'.

COURT CASES

Date	Title	Reference	Subject
2015-08-03	Cipher Surgical Ltd v Dan Thurston (Summary Decision _No Action)	[2015] DRS 16078	Summary Decision No Action

PATENTS

Title	Date filed	Status	Publication number
Scope assembly	2016-07-21	Awaiting Re-examination	GB2556616

COMPETITORS

(Based on Sic code: 26701 Manufacture of optical precision instruments)

Company	Registered Address	Company Number	YE Date	Revenue GBP	Net Profit GBP	Other SIC codes
OPTOS PUBLIC LIMITED COMPANY	QUEENSFERRY HOUSE, CARNEGIE CAMPUS, DUNFERMLINE, FIFE, KY11 8GR	SC139953	2018-03-31	113,900,000	30,200,000	28990-Manufacture of other special-purpose machinery not elsewhere classified
SPI LASERS UK LIMITED	3 WELLINGTON PARK, TOLLBAR WAY HEDGE END, SOUTHAMPTON, SO30 2QU	03290610	2018-06-30	78,683,000	7,575,000
ANDOR TECHNOLOGY LIMITED	7 MILLENNIUM WAY, SPRINGVALE BUSINESS PARK, BELFAST, BT12 7AL	NI022466	2018-03-31	63,587,000	7,016,000
NEWPORT SPECTRA-PHYSICS LIMITED	UNITS 3-4 COWLEY WAY, WESTON ROAD, CREWE, CHESHIRE, ENGLAND, CW1 6AG	02096856	2017-12-31	9,094,138	0
OPHTHALMOS LIMITED	33 CHILWORTH MEWS, LONDON, W2 3RG	04299001	2018-12-31	46,767	0
CASENCIA LIMITED	22 WESTGATE, NEWMINSTER PARK, MORPETH, NORTHUMBERLAND, NE61 2BH	05438425	2018-04-30	0	0	41100-Development of building projects 72190-Other research and experimental development on natural sciences and engineering
OXFORD OPTICS LIMITED	29 HARBORD ROAD, OXFORD, OXFORDSHIRE, OX2 8LH	05565200	2018-09-30	0	0	33130-Repair of electronic and optical equipment 71122-Engineering related scientific and technical consulting activities 72190-Other research and experimental development on natural sciences and engineering

LIQUIDATION RISK (BETA)

This company is Active. Statistically, Active companies have a low probability of being liquidated within a year.
Here are our probability predictions:

Basis	Liquidation within 3 months	Liquidation within 6 months	Liquidation within 12 months	Prediction confidence
CIPHER SURGICAL LIMITED	0.7%	4.4%	7.5%	Medium
Other companies Active in the same sector	Too few competitors


Age	0.4%	1.7%	3.3%	Medium
Company Type	0.7%	3.7%	7.4%	Medium
Accounts category	0.5%	2.1%	4.2%	Medium
Accounting Month	0.6%	7.2%	9.6%	Medium
Sic code count	0.8%	4.4%	8.7%	Medium