Open Bionics Ltd

Open Bionics Ltd, based in Bristol, UK, is a small, active company founded eleven years ago in 2014. With 32 employees and £2,657,439 in assets, it’s a growing enterprise operating from a real address. The company has six directors, although there are no owners listed – likely one of the directors holds the shares. Open Bionics regularly imports and exports optical and medical tools and devices, with 17 months of import activity and 40 months of export activity recorded, the latest in November 2024.

The company’s website reveals a fascinating mission: to turn disabilities into superpowers. Open Bionics specializes in advanced prosthetic limbs, particularly the Hero Arm, a lightweight, myoelectric arm controlled by muscle signals. The site showcases various models, activity attachments (like bike and row attachments), and clinical support services. It’s clear the company is focused on innovation and direct-to-consumer sales, with a strong emphasis on user testimonials and a vibrant online community. The website also features a “Bionic Beginnings” section detailing the company’s story and its commitment to accessibility.

Financially, Open Bionics Ltd presents a mixed picture. While current assets decreased by 20% to £2,700,000, bank borrowings increased significantly by 140%, reaching £1,500,000. Cash reserves plummeted 97%, leaving just £48,000 – a substantial drop. Creditors also decreased by 18%, suggesting better management of short-term liabilities. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the sharp decline in cash raises questions about its ability to fund ongoing operations. There’s no auditor mentioned, likely due to its small size, so the figures rely on unaudited director reports.

The increase in bank borrowings and decrease in cash reserves could indicate the company is investing heavily in research and development or scaling up production to meet demand. It's possible that the company is burning through money like a startup, but the strong focus on innovation and the positive user testimonials suggest a promising future.

Registered in England/Wales under the registration number 09001817, with a registered address at BS1 2NB, England, Bristol, Programme, Tower Lane.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.