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REGISTERED NUMBER: 13233106 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

McMillan Chang Limited

McMillan Chang Limited (Registered number: 13233106)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 6

McMillan Chang Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: Mr M Chang
Mrs F Chang





REGISTERED OFFICE: Herne Business Park
Unit 5
The Links
Herne Bay
Kent
CT6 7FE





REGISTERED NUMBER: 13233106 (England and Wales)





ACCOUNTANTS: MPH Accountancy and Business Advisors Ltd
99 Canterbury Road
Whitstable
Kent
CT5 4HG

McMillan Chang Limited (Registered number: 13233106)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 215,000 215,000

CURRENT ASSETS
Debtors 5 7,797 7,797
Cash at bank 1,328 1,283
9,125 9,080
CREDITORS
Amounts falling due within one year 6 99,345 97,987
NET CURRENT LIABILITIES (90,220 ) (88,907 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

124,780

126,093

CREDITORS
Amounts falling due after more than one
year

7

113,588

126,001
NET ASSETS 11,192 92

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 11,190 90
SHAREHOLDERS' FUNDS 11,192 92

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

McMillan Chang Limited (Registered number: 13233106)

Balance Sheet - continued
29 February 2024


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 Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:





Mr M Chang - Director


McMillan Chang Limited (Registered number: 13233106)

Notes to the Financial Statements
for the year ended 29 February 2024


1. STATUTORY INFORMATION

McMillan Chang Limited 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.
Land and buildings - not provided

Taxation
Taxation for the year comprises current and deferred 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 March 2023
and 29 February 2024 215,000
NET BOOK VALUE
At 29 February 2024 215,000
At 28 February 2023 215,000

McMillan Chang Limited (Registered number: 13233106)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 5,839 5,839
Tax 1,958 1,958
7,797 7,797

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,600 5,600
Amounts owed to group undertakings 89,817 89,817
Tax 2,606 1,968
VAT 1,322 602
99,345 97,987

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,600 5,600
Bank loans - 2-5 years 16,800 16,800
Bank loans more 5 yr by instal 91,188 103,601
113,588 126,001

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 91,188 103,601

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr M Chang
Balance outstanding at start of year 5,839 -
Amounts advanced - 5,839
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,839 5,839

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
McMillan Chang Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of McMillan Chang Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of McMillan Chang Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of McMillan Chang Limited and state those matters that we have agreed to state to the Board of Directors of McMillan Chang Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that McMillan Chang Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of McMillan Chang Limited. You consider that McMillan Chang Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of McMillan Chang Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






MPH Accountancy and Business Advisors Ltd
99 Canterbury Road
Whitstable
Kent
CT5 4HG


21 November 2024