HORUS MIDCO LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-06-03 (in 1mo)
Last made up 2025-05-20
Watchouts
Cash
£13M
+21.2% vs 2023
Net assets
£185M
-3.8% vs 2023
Employees
1,256
+30.7% vs 2023
Profit before tax
-£6M
+55.7% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
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Material uncertainty over going concern
On 30 May 2025, it was announced that Essilor Luxottica had entered into an agreement to acquire the group. Due to the potential change in ownership, the directors are unable to control all scenarios for the group's and company's future and do not have knowledge as to the intent and ability of the purchaser to operate and finance the group and the company. These conditions, along with the other matters explained in Note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the group's and the company's ability to continue as a going concern.
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £132,942,000 | £184,488,000 | |
| Operating profit | £3,993,000 | £19,737,000 | |
| Profit before tax | -£13,778,000 | -£6,097,000 | |
| Net profit | -£15,834,000 | -£9,566,000 | |
| Cash | £10,677,000 | £12,943,000 | |
| Total assets less current liabilities | £416,830,000 | £456,213,000 | |
| Net assets | £192,223,000 | £184,949,000 | |
| Equity | £192,223,000 | £184,949,000 | |
| Average employees | 961 | 1,256 | |
| Wages | £26,262,000 | £40,421,000 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 3.0% | 10.7% | |
| Net margin | -11.9% | -5.2% | |
| Return on capital employed | 1.0% | 4.3% | |
| Gearing (liabilities / total assets) | 57.6% | 63.1% | |
| Current ratio | 1.06x | 0.89x | |
| Interest cover | 0.22x | 0.76x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“On 30 May 2025, it was announced that Essilor Luxottica had entered into an agreement to acquire the group. Due to the potential change in ownership, the directors are unable to control all scenarios for the group's and company's future and do not have knowledge as to the intent and ability of the purchaser to operate and finance the group and the company. These conditions, along with the other matters explained in Note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the group's and the company's ability to continue as a going concern.”
Group structure
- HORUS MIDCO LIMITED · parent
- Horus Bidco Limited 100%
- Opticus Topco Limited 100%
- Opticus Midco Limited 100%
- Opticus Bidco Limited 100%
- Optegra International Limited 100%
- Optegra UK Limited 100%
- Custom Vision Clinics Limited 100%
- Arnott Eye Associates Limited 100%
- Lexum A.S. 100%
- Ocná ambulancia Nové Mesto nad Váhom, s.r.o. 100%
- OFTUM Bohemia s.r.o. 85%
- Cornea Lexum s.r.o 100%
- OFTA COM s.r.o. 100%
- SOMICH s.r.o. 100%
- SOMICH Lens s.r.o. 100%
- Oftalmologie Stříbro s.r.o. 100%
- LEXUM Slovakia s.r.o 100%
- 3F s.r.o. 100%
- OFTAL ER s.r.o. 100%
- OFTUM GTJ s.r.o. 86%
- UVEA KLINIKA s.r.o. 100%
- UVEA OPTIKA s.r.o. 100%
- LENS DK s.r.o. 100%
- Iris Topco B.V. 51%
- Iris Holding B.V. 51%
- Iris Centra B.V. 51%
- Iris Eye Clinics B.V. 44%
- Optegra Polska SP Zoo 100%
Significant events
- “On 22 February 2023, Horus Midopa V Management Limited and its subsidiaries the "Optegra Group" was acquired by Mideuropa V Management Limited by way of a share purchase agreement.”
- “In 2024, the Group has entered into a new market, the Netherlands via the acquisition of Iris Topco B.V.”
- “In 2025, the Group continues its expansion plan by acquiring new subsidiaries in Slovakia and Poland.”
- “On 29 January 2024, Lexum Slovakia s.r.o. acquired 100% of the issued share capital of 3 F s.r.o. with 100% voting equity interests.”
- “On 30 August 2024, Optegra UK Limited acquired 100% of the issued share capital of Custom Vision Clinics Limited, with 100% voting equity interests.”
- “On 20 December 2024, Optegra International Limited acquired 51% of the issued share capital of Iris TopCo B.V. and its subsidaries with 51% voting equity interests.”
- “On 22 April 2024, Lexum Slovakia s.r.o. acquired Oftum Bohemia s.r.o., with 85% voting equity interests with the remaining 15% purchased in July 2025.”
- “On 24 January 2024, Cornea Lexum s.r.o. acquired 100% of the issued share capital of SOMICH s.r.o. with 100% voting equity interests.”
- “On 3 May 2024, Lexum Slovakia s.r.o. acquired 100% of the issued share capital of UVEA OPTIKA s.r.o. with 100% voting equity interests.”
- “The Group has also taken steps to expand its footprint across Slovakia and Poland and has completed four acquisitions in these markets with the purchase price, including earn-outs, totaling to approximately £17,500,000.”
- “Since 31 December 2024, the directors along with the shareholders have entered into a conditional agreement for the sale of the business to Essilor Luxottica.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BENCIVENNI, Niccolò, Mr. | Director | 2025-10-01 | Jul 1981 | Italian |
| MUTINELLI, Massimiliano, Mr. | Director | 2025-10-01 | Aug 1968 | Italian |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MIDEUROPA FUND MANAGEMENT LIMITED | Corporate Secretary | 2023-01-16 | 2025-10-01 |
| VISTRA COSEC LIMITED | Corporate Secretary | 2022-11-30 | 2023-01-16 |
| MALICKI, Pawel | Director | 2022-11-30 | 2025-10-01 |
| MITTAL, Manish | Director | 2022-11-30 | 2025-10-01 |
| PRODAN, Eugeniu | Director | 2022-11-30 | 2025-10-01 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 20 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-08 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-10-08 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-10-08 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-08 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-08 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-06 | AA | accounts | Accounts with accounts type group | |
| 2025-10-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-05-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-11 | AA | accounts | Accounts with accounts type group | |
| 2024-05-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-01-29 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-10-30 | AA01 | accounts | Change account reference date company current extended | |
| 2023-02-17 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-02-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-31 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2023-01-30 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-01-27 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-11-30 | NEWINC | incorporation | Incorporation company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 4
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+38.8%
£132,942,000 £184,488,000
-
Cash
+21.2%
£10,677,000 £12,943,000
-
Net assets
-3.8%
£192,223,000 £184,949,000
-
Employees
+30.7%
961 1,256
-
Operating profit
+394.3%
£3,993,000 £19,737,000
-
Profit before tax
+55.7%
-£13,778,000 -£6,097,000
-
Wages
+53.9%
£26,262,000 £40,421,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers