REGISTERED NUMBER: 08773965 (England and Wales)

Financial Statements

for the Year Ended 30 November 2024

for

Million Medical Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

Fixed assets

Tangible assets

3

349,912

335,997

Current assets

Stocks

122,880

81,832

Debtors

4

2,184,132

1,287,633

Cash at bank

1,914

69,452

2,308,926

1,438,917

Creditors

Amounts falling due within one year

5

(975,898

)

(1,018,416

)

Net current assets

1,333,028

420,501

Total assets less current liabilities

1,682,940

756,498

Creditors

Amounts falling due after more than one year

6

(928,865

)

-

Net assets

754,075

756,498

Capital and reserves

Called up share capital

99

99

Retained earnings

8

753,976

756,399

754,075

756,498

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 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.

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 26 September 2025 and were signed by:

Ms M P E Mok - Director

1.	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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 7 ) .

3.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

Totals

£

£

£

£

COST

At 1 December 2023

343,336

15,600

59,013

417,949

Additions

-

23,983

-

23,983

At 30 November 2024

343,336

39,583

59,013

441,932

DEPRECIATION

At 1 December 2023

50,477

2,340

29,135

81,952

Charge for year

-

5,586

4,482

10,068

At 30 November 2024

50,477

7,926

33,617

92,020

NET BOOK VALUE

At 30 November 2024

292,859

31,657

25,396

349,912

At 30 November 2023

292,859

13,260

29,878

335,997

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

474,291

522,447

Inter company loan

1,659,353

653,359

Other debtors VAT refundable

50,488

111,827

2,184,132

1,287,633

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 7)

68,357

-

Other loans (see note 7)

284,655

391,775

Trade creditors

433,734

402,760

Pension

1,170

1,040

Corporation tax

33,719

49,575

Social security and other tax

11,351

4,367

Other creditors

31,022

31,022

Directors' current accounts

111,890

137,877

975,898

1,018,416

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 7)

928,865

-

7.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

28,343

-

Bank loans

40,014

-

Other loans

284,655

391,775

353,012

391,775

Amounts falling due between two and five years:

Bank loans - 2-5 years

296,621

-

Bank loan more than 5 year

632,244

-

928,865

-

8.

RESERVES

Retained

earnings

£

At 1 December 2023

756,399

Profit for the year

27,577

Dividends

(30,000

)

At 30 November 2024

753,976