TORNIER_UK_LIMITED - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Tornier UK Limited is a private company, limited by shares, incorporated in England and Wales. The company’s registered number and registered office address can be found on the Company Information page.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Following the acquisition of the group by Stryker Corporation on 11 November 2020, the Company will be integrated into Stryker Corporation UK business in the subsequent year. As a result of this the company has prepared these financial statements on a non-going concern basis.

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

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Creditors are not interest bearing and are included at their nominal value.

The tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons (including directors) employed by the company during the period was 0 (2019 - 0).

Following the acquisition of the group by Stryker Corporation on 11 November 2020, amounts owed by group undertakings will be restructured as part of the Company's integration into Stryker Corporation UK business (as described in Note 1.2).

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter

We draw attention to Note 1.2 in the financial statements which explains that the directors intend integrate the company into Stryker Corporation UK business in the subsequent year. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 1.2. Our opinion is not modified in this respect of this matter.

The company’s immediate parent undertaking is Wright Medical Netherlands B.V. (formerly known as Felding Finance B.V.), a company incorporated in The Netherlands. The immediate parent undertaking’s registered office address is Valeriusstraat 5, 3122 AM Schiedam, The Netherlands.

On 11 November 2020, Stryker Corporation and its subsidiary, Stryker B.V., acquired all of the issued and outstanding ordinary shares of the company’s ultimate parent undertaking, Wright Medical Group N.V. As of this date, the controlling party has changed to Stryker Corporation, which is incorporated in the USA. The ultimate parent undertaking and the smallest and largest group to consolidate the results of the company from 11 November 2020 is Stryker Corporation, a company incorporated in the USA. Copies of its financial statements are available from 2825 Airview Boulevard, Kalamazoo, Michigan, 49002, USA.

On 1 June 2021, Wright Medical Netherlands B.V. sold its shareholding in Tornier UK Limited to Stryker UK Limited and it became the new immediate parent company from this date.

On 1 June 2021, Wright Medical Netherlands B.V. sold its shareholding in Tornier UK Limited to Stryker UK Limited and on this date the sub-distribution agreement was terminated.