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REGISTERED NUMBER: SC371981 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

McDade Promotional & Workwear Limited

McDade Promotional & Workwear Limited (Registered number: SC371981)






Contents of the Financial Statements
for the Year Ended 31 January 2024




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 2024







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 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,375 12,500
Tangible assets 5 62,827 46,332
72,202 58,832

CURRENT ASSETS
Debtors 6 11,963 9,123
Cash at bank and in hand 59,496 56,454
71,459 65,577
CREDITORS
Amounts falling due within one year 7 68,134 70,387
NET CURRENT ASSETS/(LIABILITIES) 3,325 (4,810 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,527

54,022

CREDITORS
Amounts falling due after more than one
year

8

17,795

25,802
NET ASSETS 57,732 28,220

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 57,731 28,219
SHAREHOLDERS' FUNDS 57,732 28,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

McDade Promotional & Workwear Limited (Registered number: SC371981)

Balance Sheet - continued
31 January 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 director and authorised for issue on 17 October 2024 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 2024

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 2024

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2023
and 31 January 2024 22,065
AMORTISATION
At 1 February 2023 9,565
Amortisation for year 3,125
At 31 January 2024 12,690
NET BOOK VALUE
At 31 January 2024 9,375
At 31 January 2023 12,500

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 14,632 62,360 10,443 11,450 98,885
Additions - 6,000 - 21,992 27,992
At 31 January 2024 14,632 68,360 10,443 33,442 126,877
DEPRECIATION
At 1 February 2023 - 41,941 3,674 6,938 52,553
Charge for year 1,463 2,396 1,015 6,623 11,497
At 31 January 2024 1,463 44,337 4,689 13,561 64,050
NET BOOK VALUE
At 31 January 2024 13,169 24,023 5,754 19,881 62,827
At 31 January 2023 14,632 20,419 6,769 4,512 46,332

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 11,963 9,123

McDade Promotional & Workwear Limited (Registered number: SC371981)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 11,984 14,865
Tax 1,928 -
Social security and other taxes 143 2,082
VAT 6,810 7,593
Directors' current accounts 45,547 44,847
Accrued expenses 1,722 1,000
68,134 70,387

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other loans (see note 9) 17,795 25,802

9. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due between one and two years:
Other loans - 1-2 years 17,795 25,802

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 1 1

11. RESERVES
Retained
earnings
£   

At 1 February 2023 28,219
Profit for the year 33,512
Dividends (4,000 )
At 31 January 2024 57,731