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Company Registration No. 09398589 (England and Wales)
McQuade Ltd Unaudited accounts for the year ended 28 February 2022
McQuade Ltd Unaudited accounts Contents
Page
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McQuade Ltd Company Information for the year ended 28 February 2022
Directors
Jonathan Mcquade Lucy Mcquade
Company Number
09398589 (England and Wales)
Registered Office
The Retreat Pen-Y-Turnpike Road Dinas Powys CF64 4HG Wales
Accountants
Cadre Advisory Ltd Embassy Offices, Stangate House Stanwell Road Penarth CF64 2AA
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McQuade Ltd Statement of financial position as at 28 February 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
316 
Current assets
Inventories
3,579,487 
2,270,347 
Debtors
366,598 
323,567 
Cash at bank and in hand
15,419 
23,721 
3,961,504 
2,617,635 
Creditors: amounts falling due within one year
(4,470,567)
(2,562,171)
Net current (liabilities)/assets
(509,063)
55,464 
Total assets less current liabilities
(509,063)
55,780 
Creditors: amounts falling due after more than one year
(19,319)
(20,833)
Provisions for liabilities
Deferred tax
(1)
(60)
Net (liabilities)/assets
(528,383)
34,887 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(528,385)
34,885 
Shareholders' funds
(528,383)
34,887 
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by
Jonathan Mcquade Director Company Registration No. 09398589
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McQuade Ltd Notes to the Accounts for the year ended 28 February 2022
1
Statutory information
McQuade Ltd is a private company, limited by shares, registered in England and Wales, registration number 09398589. The registered office is The Retreat Pen-Y-Turnpike Road, Dinas Powys, CF64 4HG, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Going concern
At 28 February 2022 the company had net liabilities of £528,383. However the company received financial support from the directors and shareholder of the company, and continues to meet liabilities as they fall due. Therefore the going concern basis is considered appropriate.
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McQuade Ltd Notes to the Accounts for the year ended 28 February 2022
Charges
CPS Property Management Limited fixed and floating charge and a negative pledge dated 15 February 2023 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890022) CPS Property Management Limited fixed and floating charge and a negative pledge dated 28 November 2022 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890021) CPS Property Management Limited fixed and floating charge and a negative pledge dated 7 July 2022 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890020) CPS Property Management Limited fixed and floating charge and a negative pledge dated 24 May 2022 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890019) CPS Property Management Limited fixed and floating charge and a negative pledge dated 30 March 2022 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890018) CPS Property Management Limited fixed and floating charge and a negative pledge dated 4 February 2022 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890017) CPS Property Management Limited fixed and floating charge and a negative pledge dated 20 January 2022 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890016) CPS Property Management Limited fixed and floating charge and a negative pledge dated 20 October 2021 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890015) CPS Property Management Limited fixed and floating charge and a negative pledge dated 14 September 2021 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890014) CPS Property Management Limited fixed and floating charge and a negative pledge dated 14 July 2021 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890013) CPS Property Management Limited fixed and floating charge and a negative pledge dated 29 June 2021 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890012) CPS Property Management Limited fixed and floating charge and a negative pledge dated 22 June 2021 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890011) CPS Property Management Limited fixed and floating charge and a negative pledge dated 8 February 2021 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890009) CPS Property Management Limited fixed and floating charge and a negative pledge dated 21 October 2020 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890006)
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McQuade Ltd Notes to the Accounts for the year ended 28 February 2022
CPS Property Management Limited fixed and floating charge and a negative pledge dated 29 September 2020 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890005) CPS Property Management Limited fixed and floating charge and a negative pledge dated 21 August 2020 over McQuade Ltd on all monies, obligations and liabilities which may be due to CPS Property Management Limited now and in the future. (charge code 093985890004)
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 March 2021
918 
At 28 February 2022
918 
Depreciation
At 1 March 2021
602 
Charge for the year
316 
At 28 February 2022
918 
Net book value
At 28 February 2022
- 
At 28 February 2021
316 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Other debtors
366,598 
323,567 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
4,167 
4,167 
Taxes and social security
16,981 
35,579 
Other creditors
4,446,299 
2,519,617 
Accruals
3,120 
2,808 
4,470,567 
2,562,171 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
19,319 
20,833 
8
Average number of employees
During the year the average number of employees was 2 (2021: 2).
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