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REGISTERED NUMBER: SC491239 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

MEDICAL APPLICATIONS LIMITED

MEDICAL APPLICATIONS LIMITED (REGISTERED NUMBER: SC491239)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEDICAL APPLICATIONS LIMITED

Company Information
for the Year Ended 30 November 2024







DIRECTOR: R J Macdonald





SECRETARY: Stronachs Secretaries Limited





REGISTERED OFFICE: 28 Albyn Place
Aberdeen
United Kingdom
AB10 1YL





REGISTERED NUMBER: SC491239 (Scotland)






MEDICAL APPLICATIONS LIMITED (REGISTERED NUMBER: SC491239)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,654 8,217

CURRENT ASSETS
Debtors 5 7,846 8,124
Cash at bank 104,348 108,534
112,194 116,658
CREDITORS
Amounts falling due within one year 6 33,983 24,508
NET CURRENT ASSETS 78,211 92,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,865

100,367

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 84,765 100,267
84,865 100,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 17 March 2025 and were signed by:





R J Macdonald - Director


MEDICAL APPLICATIONS LIMITED (REGISTERED NUMBER: SC491239)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. STATUTORY INFORMATION

Medical Applications Limited is a private company, limited by shares , registered in Scotland. 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.
Computer equipment - 20% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

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

MEDICAL APPLICATIONS LIMITED (REGISTERED NUMBER: SC491239)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2023 15,249
Additions 1,793
At 30 November 2024 17,042
DEPRECIATION
At 1 December 2023 7,032
Charge for year 3,356
At 30 November 2024 10,388
NET BOOK VALUE
At 30 November 2024 6,654
At 30 November 2023 8,217

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by participating interests 6,539 6,539
Other debtors 1,307 1,585
7,846 8,124

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 13,540 4,815
Other creditors 20,443 19,693
33,983 24,508

7. ULTIMATE CONTROLLING PARTY

The controlling party is Scottish Medicine Ltd.

The ultimate controlling party is R J Macdonald.