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REGISTERED NUMBER: 08773965 (England and Wales)










Financial Statements

for the Year Ended 30 November 2023

for

Million Medical Ltd

Million Medical Ltd (Registered number: 08773965)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Million Medical Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Ms M P E Mok





REGISTERED OFFICE: 187 Hylton Road
Sunderland
SR4 7YE





REGISTERED NUMBER: 08773965 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
52-56 Coatsworth Road
Gateshead
NE8 1QN

Million Medical Ltd (Registered number: 08773965)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 335,997 328,010

CURRENT ASSETS
Stocks 81,832 82,339
Debtors 5 1,287,633 779,298
Cash at bank 69,452 1,914
1,438,917 863,551
CREDITORS
Amounts falling due within one year 6 (1,018,416 ) (447,006 )
NET CURRENT ASSETS 420,501 416,545
TOTAL ASSETS LESS CURRENT
LIABILITIES

756,498

744,555

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 8 756,399 744,456
756,498 744,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Million Medical Ltd (Registered number: 08773965)

Balance Sheet - continued
30 November 2023


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 23 August 2024 and were signed by:





Ms M P E Mok - Director


Million Medical Ltd (Registered number: 08773965)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Million Medical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current 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 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 10 ) .

Million Medical Ltd (Registered number: 08773965)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1 December 2022 343,336 - 59,013 402,349
Additions - 15,600 - 15,600
At 30 November 2023 343,336 15,600 59,013 417,949
DEPRECIATION
At 1 December 2022 50,477 - 23,862 74,339
Charge for year - 2,340 5,273 7,613
At 30 November 2023 50,477 2,340 29,135 81,952
NET BOOK VALUE
At 30 November 2023 292,859 13,260 29,878 335,997
At 30 November 2022 292,859 - 35,151 328,010

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 522,447 635,996
Inter company loan 653,359 21,000
Other debtors VAT refundable 111,827 122,302
1,287,633 779,298

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 7) - 135,592
Other loans (see note 7) 391,775 -
Trade creditors 402,760 236,407
Pension 1,040 -
Corporation tax 49,575 40,917
Social security and other tax 4,367 -
Other creditors 31,022 34,090
Directors' current accounts 137,877 -
1,018,416 447,006

Million Medical Ltd (Registered number: 08773965)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 135,592
Other loans 391,775 -
391,775 135,592

8. RESERVES
Retained
earnings
£   

At 1 December 2022 744,456
Profit for the year 71,943
Dividends (60,000 )
At 30 November 2023 756,399