Wembley Optical LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC421129

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		22,075		29,433
Tangible Assets	5		3,497		3,815

			25,572		33,248
CURRENT ASSETS
Stocks	6	19,500		19,500
Debtors	7	31,855		64,934
Cash at bank and in hand		500		2,186

		51,855		86,620
Creditors: Amounts Falling Due Within One Year	8	(49,096 )		(94,229 )

NET CURRENT ASSETS (LIABILITIES)			2,759		(7,609 )

TOTAL ASSETS LESS CURRENT LIABILITIES			28,331		25,639

NET ASSETS ATTRIBUTABLE TO MEMBERS			28,331		25,639

REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability		160,858		178,435
Other amounts		216,317		110,219

			377,175		288,654

Equity
Members' other interests
Members' capital		(334,516)		(248,687)
Other reserves		(14,328)		(14,328)

			(348,844)		(263,015)

			28,331		25,639

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			377,175		288,654
Members' other interests			(348,844)		(263,015)

			28,331		25,639

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Wembley Optical LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Abdulqadir Karimjee Partner	Mrs Insiyah Idris Karimjee Partner	Mr Idris Karimjee Partner
19th December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Wembley Optical LLP is a limited liability partnership, incorporated in England & Wales, registered number OC421129 . The Registered Office is Solutions House, 36, Chase Way, Southgate, London, N14 5DE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 6 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% p.a on a reducing balance basis

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 2 (2024: 2)

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Wembley Optical LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	176,585

As at 31 March 2025	176,585

Amortisation
As at 1 April 2024	147,152
Provided during the period	7,358

As at 31 March 2025	154,510

Net Book Value
As at 31 March 2025	22,075

As at 1 April 2024	29,433

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	16,296

As at 31 March 2025	16,296

Depreciation
As at 1 April 2024	12,481
Provided during the period	318

As at 31 March 2025	12,799

Net Book Value
As at 31 March 2025	3,497

As at 1 April 2024	3,815

6. Stocks

	2025	2024
	£	£
Shop window display stock	19,500	19,500

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	31,855	64,934

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Wembley Optical LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	29,674	71,818
Bank loans and overdrafts	2,566	-
Barclaycard	5,067	10,567
Other creditors	-	1,561
Taxation and social security	11,789	10,283

	49,096	94,229

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