REGISTERED NUMBER: NI651795 (Northern Ireland)

Financial Statements for the Year Ended 31 December 2024

for

UK Olight Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Xiao

REGISTERED OFFICE:

The Hatchery Ni, Unit 19

Antrim Enterprise Park

Antrim

Northern Ireland

BT41 1JZ

REGISTERED NUMBER:

NI651795 (Northern Ireland)

AUDITORS:

Shinewing Wilson Accountancy Limited

Chartered Certified Accountants

and Statutory Auditors

9 St Clare Street

London

EC3N 1LQ

CURRENT ASSETS

Stocks

480,591

465,366

Debtors

4

16,480

9,250

Cash at bank and in hand

1,295,105

399,008

1,792,176

873,624

CREDITORS

Amounts falling due within one year

5

2,295,588

1,275,880

NET CURRENT LIABILITIES

(503,412

)

(402,256

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(503,412

)

(402,256

)

PROVISIONS FOR LIABILITIES

6

10,176

16,947

NET LIABILITIES

(513,588

)

(419,203

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(513,589

)

(419,204

)

(513,588

)

(419,203

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2025 and were signed by:

M Xiao - Director

1.	STATUTORY INFORMATION

UK Olight Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The Company meets its day-to-day working capital requirements through its cash reserve. The net current liabilities of £514K at the balance sheet is mainly due to the amounts owed to the group companies, no short-term demand on the repayment of the funds is expected to be instructed. Based on these, the director considered that the company has adequate resources to continue its operational existence at least 12 months from the date of signing these financial statements, hence the company continues to adopt the going concern basis in preparing its financial statements.

Turnover

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

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

Sale of goods - internet based transactions

The company sells goods via its websites and other ecommerce platforms to the customer. Revenue is recognised when the risks and rewards of the inventory are passed to the customer. For deliveries to the customer this is the point of receiving the product by customers. Transactions are settled by credit or payment card.

Stocks

Stocks are valued on a weighted average cost basis and carried at the lower of cost and net realisable value. Cost includes all direct expenditure and other attributable costs incurred in bringing inventories to their present location and condition. All inventories are finished goods.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, and amounts owed to group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital

Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

16,480

9,250

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

15,172

14,211

Amounts owed to group undertakings

2,007,878

1,023,516

Taxation and social security

182,747

172,664

Other creditors

89,791

65,489

2,295,588

1,275,880

The amounts owed to group undertakings are unsecured, interest free and repayable on demand.

6.	PROVISIONS FOR LIABILITIES

The balance represents the provision for service fees related to the 30-day return policy and 5-year warranty.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nijendra Dhungana FCCA (Senior Statutory Auditor)

for and on behalf of Shinewing Wilson Accountancy Limited

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Olight Ecommerce Technology Co.,Limited, a company registered in Hong Kong, P.R. China. The smallest undertaking for which the company is a member and for which group financial statements are prepared by the ultimate parent company Olight Group CO.,Limited, incorporated and registered in China. Copies of the consolidated financial statements can be obtained from the address at Building A2, 5th Floor, Fuhai Information Port, Xinhe Community, Fuhai Street, Bao'an District, Shenzhen, Guangdong Province, China.

There is no ultimate controlling party.