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REGISTERED NUMBER: 06752778 (England and Wales)















Unaudited Financial Statements for the Year Ended 29th November 2023

for

Khan Medicine Ltd

Khan Medicine Ltd (Registered number: 06752778)






Contents of the Financial Statements
for the Year Ended 29th November 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Khan Medicine Ltd (Registered number: 06752778)

Balance Sheet
29th November 2023

29.11.23 29.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,373 2,604

CURRENT ASSETS
Debtors 5 2,192 1,188
Cash at bank 93,208 94,785
95,400 95,973
CREDITORS
Amounts falling due within one year 6 14,069 19,976
NET CURRENT ASSETS 81,331 75,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,704

78,601

CREDITORS
Amounts falling due after more than one year 7 (12,461 ) (19,848 )

PROVISIONS FOR LIABILITIES (470 ) (574 )
NET ASSETS 70,773 58,179

CAPITAL AND RESERVES
Called up share capital 9 140 140
Retained earnings 70,633 58,039
SHAREHOLDERS' FUNDS 70,773 58,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Khan Medicine Ltd (Registered number: 06752778)

Balance Sheet - continued
29th 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th August 2024 and were signed on its behalf by:





Dr M H Khan - Director


Khan Medicine Ltd (Registered number: 06752778)

Notes to the Financial Statements
for the Year Ended 29th November 2023

1. COMPANY INFORMATION

Khan Medicine Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06752778

Registered office: The Lexicon
Mount Street
Manchester
M2 5NT

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.

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

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and Fittings - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Khan Medicine Ltd (Registered number: 06752778)

Notes to the Financial Statements - continued
for the Year Ended 29th November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 30th November 2022 9,805
Additions 1,000
At 29th November 2023 10,805
DEPRECIATION
At 30th November 2022 7,201
Charge for year 1,231
At 29th November 2023 8,432
NET BOOK VALUE
At 29th November 2023 2,373
At 29th November 2022 2,604

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Trade debtors 2,192 1,188

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Bank loans and overdrafts (see note 8) 7,500 7,500
Corporation tax charge 4,911 7,611
Paye control - 182
Directors' current accounts 94 2,846
Accrued expenses 1,564 1,837
14,069 19,976

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.11.23 29.11.22
£    £   
Bank loans (see note 8) 12,461 19,848

8. LOANS

An analysis of the maturity of loans is given below:

29.11.23 29.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,500 7,500

Khan Medicine Ltd (Registered number: 06752778)

Notes to the Financial Statements - continued
for the Year Ended 29th November 2023

8. LOANS - continued
29.11.23 29.11.22
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 12,461 19,848

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.11.23 29.11.22
value: £    £   
100 Ordinary A £1 100 100
40 Ordinary B £1 40 40
140 140

The A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The B Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The A and B Shares rank pari passu in respect of dividend and capital distribution rights.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29th November 2023 and 29th November 2022:

29.11.23 29.11.22
£    £   
Dr M H Khan and Mrs E A Khan
Balance outstanding at start of year (2,846 ) 24,560
Amounts advanced 39,323 56,423
Amounts repaid (36,570 ) (83,829 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (93 ) (2,846 )

The loan is repayable on demand and no interest was charged during the year.

11. CONTROL

The ultimate controlling party is Dr Khan by virtue of holding 100% of the voting share capital.