FIRST LIGHT FUSION LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 1.2 in the financial statements, which indicates that the company needs to secure additional funding within 12 months from the date of approval of the financial statements. At the time of approval of the financial statements no such funding is contracted or committed. As stated in Note 1.2, these events or conditions, along with other matters as set forth in Note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.

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

• Turnover

  +1,517%

  £3,443 → £55,675

• Cash

  +486.8%

  £1,682,337 → £9,871,694

• Net assets

  -70.8%

  £17,622,202 → £5,137,151

• Employees

  -1%

  101 → 100

• Operating profit

  +4%

  -£16,313,384 → -£15,667,780

• Profit before tax

  -0.6%

  -£15,445,282 → -£15,538,597

• Wages

  +0.5%

  £7,760,150 → £7,799,908

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

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. FIRST LIGHT FUSION LIMITED 2014-05-09 → present
2. OXYNTIX LIMITED 2011-03-29 → 2014-05-09
3. JC TECHCO 144 LIMITED 2011-03-08 → 2011-03-29

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Gravita Audit Oxford LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 1.2 in the financial statements, which indicates that the company needs to secure additional funding within 12 months from the date of approval of the financial statements. At the time of approval of the financial statements no such funding is contracted or committed. As stated in Note 1.2, these events or conditions, along with other matters as set forth in Note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.”

Significant events

• “The company strategy is to a focus in on its core strengths - the Target and its unique capabilities...”
• “the company is now seeking £20M in equity funding to demonstrate four main objectives: The sale of Targets into adjacent industries; Partnerships with IFE Driver organisations; Publication of papers in scientific journals; Filing patents for Target systems using alternative driver technologies.”
• “Funding remains uncertain at the time of signing these accounts (see Going Concern), though £20m in equity is expected to be raised before January 2026.”
• “The Company undertook an organisation re-design to enable it to execute the new commercial strategy, which resulted in a reduction in headcount. The Company appointed a new CEO - Mark Thomas - to lead this commercial strategy.”
• “Since demonstrating fusion using the Targets, the company has now demonstrated the technology several times at a key partner's facility (Sandia National Laboratories) and broke its own record, doubling the measured pressure in quartz record on the Z-Machine to 3.67 TPa.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.