BRIGHTWAKE LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Sumer Auditco Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“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 group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. BRIGHTWAKE LIMITED · parent
   1. Advancis Medical Germany Gmbh 100% · Germany · Sale of medical products
   2. Advancis Medical Nederland B.V. 100% · Holland · Sale of medical products
   3. Brightwake Fabrications Limited 100% · UK · Design and manufacture of precision engineering
   4. Advancis Medical Adria d.o.o 100% · Croatia · Sale of medical products

Significant events

• “A difficult year that due to several factors has limited progress in both our medium and long-term plans, to be one of the best inventors, developers and producers of state-of-the-art medical dressings and devices primarily, under our brands of Advancis Medical, Advancis Surgical and Advancis Veterinary as well as for third parties as a sub-contract manufacturer.”
• “The year was impacted by continued global and political uncertainty exacerbated by speculation that curtailed all our long-term investment plans.”
• “Turnover in the year fell from £20.4m to £18.9m a reduction of £1.5m (7.5%) the significant reductions were the loss in OEM Sales (£1.9m) due to the significantly reduced demand from a single customer for a single product where their sales were significantly less than expected.”
• “Our German Subsidiary also saw sales diminish by £0.4m due to the reimbursement status of our honey products being left in limbo after the collapse in the Bundestag in the final quarter of 2024. Reimbursement status was restored after the year end.”
• “The year highlighted our dependency on single product OEM contracts along with the risk of rapid change in National Product Registrations.”
• “Our year was further impacted by patent litigation which combined with supporting new businesses and the diminished sales took the group to a substantial loss for the year. The litigation was brought against us at a group and subsidiary level on a single product and whilst we had grounds to fight based on us having pre-dated patents, the fact it was only one product with key sales only in Germany and the US lead to us settling the dispute. The total cost to the group of the settlement, fees and removing the product from sale was circa £600k.”
• “In the year we had losses from Croatia of (£0.1m) due to the continued irregular practices within the territory as we have transitioned to a subsidiary entity.”
• “Support of the fabrications business cost the group (£0.4m) exacerbated by a significant bad debt of (£0.10m)”
• “Germany following the lost sales in the last three months of the year lost (£0.2m)”
• “The UK losses as a result of the lost OEM business and the legal costs of litigation lost (£1.3m).”
• “The result for the year shows EBITDA at (£1.349m) from £798k in 2024”
• “The Board has always insisted on retaining cash reserves to weather bad times, 2024/25 was a bad time and saw Group cash drop to £1m in March 25, however by December 25 this had recovered to in excess of £2.2m.”
• “The ongoing change in the UK and EU regulatory framework continues to be of concern going forward especially with the lack of Registered Body Capacity slowing product development.”
• “Growth in our Surgical Brand continues to be stifled by past delays in elective surgeries.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -7.6%

  £20,441,819 → £18,890,784

• Cash

  -43.1%

  £1,849,139 → £1,051,831

• Net assets

  -19.7%

  £8,445,450 → £6,778,113

• Employees

  -0.4%

  231 → 230

• Operating profit

  -1,082%

  £180,433 → -£1,771,928

• Profit before tax

  -1,040.3%

  £189,361 → -£1,780,480

• Wages

  +1.1%

  £6,547,657 → £6,618,485

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers