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REGISTERED NUMBER: SC371981 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

McDade Promotional & Workwear Limited

McDade Promotional & Workwear Limited (Registered number: SC371981)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McDade Promotional & Workwear Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: D McDade





REGISTERED OFFICE: 8 Rogart Street
Bridgeton
Glasgow
G40 2AA





REGISTERED NUMBER: SC371981 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

McDade Promotional & Workwear Limited (Registered number: SC371981)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,500 16,666
Tangible assets 5 46,332 50,280
58,832 66,946

CURRENT ASSETS
Debtors 6 9,123 1,721
Cash at bank and in hand 56,454 33,441
65,577 35,162
CREDITORS
Amounts falling due within one year 7 70,387 57,062
NET CURRENT LIABILITIES (4,810 ) (21,900 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,022

45,046

CREDITORS
Amounts falling due after more than one
year

8

25,802

34,321
NET ASSETS 28,220 10,725

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 28,219 10,724
SHAREHOLDERS' FUNDS 28,220 10,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

McDade Promotional & Workwear Limited (Registered number: SC371981)

Balance Sheet - continued
31 January 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 28 August 2023 and were signed by:





D McDade - Director


McDade Promotional & Workwear Limited (Registered number: SC371981)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

McDade Promotional & Workwear 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

McDade Promotional & Workwear Limited (Registered number: SC371981)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2022
and 31 January 2023 22,065
AMORTISATION
At 1 February 2022 5,399
Amortisation for year 4,166
At 31 January 2023 9,565
NET BOOK VALUE
At 31 January 2023 12,500
At 31 January 2022 16,666

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2022 14,632 59,833 10,443
Additions - 2,033 -
Disposals - 494 -
At 31 January 2023 14,632 62,360 10,443
DEPRECIATION
At 1 February 2022 - 35,299 2,479
Charge for year - 6,642 1,195
At 31 January 2023 - 41,941 3,674
NET BOOK VALUE
At 31 January 2023 14,632 20,419 6,769
At 31 January 2022 14,632 24,534 7,964

McDade Promotional & Workwear Limited (Registered number: SC371981)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 - 8,584 93,492
Additions - 2,866 4,899
Disposals - - 494
At 31 January 2023 - 11,450 98,885
DEPRECIATION
At 1 February 2022 1,050 4,384 43,212
Charge for year (1,050 ) 2,554 9,341
At 31 January 2023 - 6,938 52,553
NET BOOK VALUE
At 31 January 2023 - 4,512 46,332
At 31 January 2022 (1,050 ) 4,200 50,280

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 9,123 1,721

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 14,865 5,422
Social security and other taxes 2,082 1,785
VAT 7,593 4,008
Directors' current accounts 44,847 44,847
Accrued expenses 1,000 1,000
70,387 57,062

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Other loans (see note 9) 25,802 34,321

McDade Promotional & Workwear Limited (Registered number: SC371981)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. LOANS

An analysis of the maturity of loans is given below:

31.1.23 31.1.22
£    £   
Amounts falling due between one and two years:
Other loans - 1-2 years 25,802 34,321

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary £1 1 1

11. RESERVES
Retained
earnings
£   

At 1 February 2022 10,724
Profit for the year 21,495
Dividends (4,000 )
At 31 January 2023 28,219