OXFORD IMMUNOTEC LIMITED

Company number

04516079

Status

Active

Incorporation

2002-08-21

Last accounts made up

2024-12-29

Account category

FULL

Primary SIC

21200

Hubs

UK Healthcare

Values shown as filed in iXBRL accounts. — indicates the figure was not present in the extracted filing (either not filed under that concept or absent from the period). About these numbers

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“We note there is a net loss of £6.3 million and net liability of £35.5 million for the period ended 29 December 2024. The Directors have received a letter of financial support from the Company's ultimate parent and controlling party Revvity, Inc., extending for at least 12 months from the date of signing the financial statements. As at the date of approval of these financial statements, the Revvity group has approximately $992 million in cash and cash equivalents. Having reviewed cash flow forecasts for the Company for the future, being at least 12 months from the date of signing the financial statements, and with parental financial support in place, the Directors have a reasonable expectation that OI Ltd. and Revvity, Inc. have adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis in preparing these financial statements.”

Subsidiaries

• Oxford Immunotec USA Inc. · 1% held · United States · Medical Diagnostics
• Immunetics, Inc. · 1% held · United States · Medical Diagnostics
• Oxford Immunotec K.K. · 1% held · Japan · Medical Diagnostics
• Boulder Diagnostic Europe GmbH · 1% held · Germany · Medical Diagnostics
• Oxford Immunotec Asia Limited · 1% held · People's Republic of China · Medical Diagnostics
• Oxford Immunotec (Shanghai) Medical Device Co. Ltd. · 1% held · People's Republic of China · Medical Diagnostics
• Oxford Immunotec (Ireland) Limited · 1% held · Republic of Ireland · Medical Diagnostics
• Oxford Diagnostic Laboratories (UK) Limited · 1% held · Medical Diagnostics

Significant events

• “On October 28, 2024 Oxford Immunotec Limited effected a legal entity integration whereby Immunetics, Inc., Oxford Immunotec K.K., Boulder Diagnostic Europe GmbH, Oxford Immunotec Asia Limited, Oxford Immunotec (Shanghai), Oxford Immunotec (Ireland), Oxford Diagnostic Laboratories business activities have been transferred to the corresponding Revvity entity in that jurisdiction and net assets were sold for cash to the receiving Revvity entity at net asset value.”
• “The reorganization initiated in the prior period by management was still underway as of December 29, 2024, triggering an additional impairment review to reflect the updated net asset values based on facts known at that date. This review resulted in a £2 million impairment of Oxford Immunotec Limited's investments in Oxford Immunotec Shanghai Medical Device Co. and Oxford Immunotec USA Inc.”
• “On October 28, 2024 the business also completed an SAP ERP implementation from their legacy system IFS. As of December 31, 2023 the net book value of the IFS legacy system was £1.3 million on the subsidiary Oxford Immunotec Limited's books. The depreciation of the asset has been accelerated in 2024 to zero as of October 28, 2024.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers