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COMPANY REGISTRATION NUMBER: 13074542

Northern Light Optical Limited

Filleted Unaudited Financial Statements

31 December 2024

Northern Light Optical Limited

Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £

Fixed assets

Intangible assets | 4 | 100 | 200
Tangible assets | 5 | 394 | 788
| ---- | ----
| 494 | 988

Current assets

Debtors | 6 | 2,748 | 1,787
Cash at bank and in hand | 13,715 | 33,620
| -------- | --------
| 16,463 | 35,407

Creditors: amounts falling due within one year | 7 | 8,383 | 18,957
| -------- | --------
Net current assets | 8,080 | 16,450
| ------- | --------
Total assets less current liabilities | 8,574 | 17,438
| ------- | --------
Net assets | 8,574 | 17,438
| ------- | --------

Capital and reserves

Called up share capital | 100 | 100
Profit and loss account | 8,474 | 17,338
| ------- | --------
Shareholders funds | 8,574 | 17,438
| ------- | --------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Northern Light Optical Limited

Statement of Financial Position (continued)

31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 15 July 2025 , and are signed on behalf of the board by:

Mr G J Murray |
Director |

Company registration number: 13074542

Northern Light Optical Limited

Notes to the Financial Statements

Year ended 31st December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Orbit, Netpark, Joseph Swan Road, Sedgfield, TS21 3FB, Co Durham.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable (see construction contracts below) and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Construction Contracts Where the outcome of contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised. Where the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is expensed rather than recognised as an adjustment to the amount of contract revenue. The entity uses the percentage of completion method to determine the amounts to be recognised in the period.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax that the company is expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Website | - | 25% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 25% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Intangible assets

| Website
| £
Cost |
At 1st January 2024 and 31st December 2024 | 400
| ----
Amortisation |
At 1st January 2024 | 200
Charge for the year | 100
| ----
At 31st December 2024 | 300
| ----
Carrying amount |
At 31st December 2024 | 100
| ----
At 31st December 2023 | 200
| ----

5. Tangible assets

| Fixtures and fittings
| £
Cost |
At 1st January 2024 and 31st December 2024 | 1,442
| -------
Depreciation |
At 1st January 2024 | 654
Charge for the year | 394
| -------
At 31st December 2024 | 1,048
| -------
Carrying amount |
At 31st December 2024 | 394
| -------
At 31st December 2023 | 788
| -------

6. Debtors

| 2024 | 2023
| £ | £
Other debtors | 2,748 | 1,787
| ------- | -------

7. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Trade creditors | 2,539 | 2,327
Accruals and deferred income | 930 | 930
Corporation tax | 4,914 | 15,700
| ------- | --------
| 8,383 | 18,957
| ------- | --------