McDade Promotional & Workwear Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC371981 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

McDade Promotional & Workwear Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Intangible assets

4

12,469

9,375

Tangible assets

5

51,926

62,827

64,395

72,202

CURRENT ASSETS

Debtors

6

19,320

11,963

Cash at bank and in hand

49,396

59,496

68,716

71,459

CREDITORS

Amounts falling due within one year

7

60,160

68,134

NET CURRENT ASSETS

8,556

3,325

TOTAL ASSETS LESS CURRENT
LIABILITIES

72,951

75,527

CREDITORS

Amounts falling due after more than one
year

8

9,935

17,795

NET ASSETS

63,016

57,732

CAPITAL AND RESERVES

Called up share capital

10

1

Retained earnings

11

63,015

57,731

SHAREHOLDERS' FUNDS

63,016

57,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 22 October 2025 and were signed by:

D McDade - Director

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

COST

At 1 February 2024

-

22,065

Additions

4,500

-

4,500

At 31 January 2025

4,500

22,065

26,565

AMORTISATION

At 1 February 2024

-

12,690

Amortisation for year

-

1,406

At 31 January 2025

-

14,096

NET BOOK VALUE

At 31 January 2025

4,500

7,969

12,469

At 31 January 2024

-

9,375

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

COST

At 1 February 2024

and 31 January 2025

14,632

68,360

10,443

33,442

126,877

DEPRECIATION

At 1 February 2024

1,463

44,337

4,689

13,561

64,050

Charge for year

1,464

3,604

863

4,970

10,901

At 31 January 2025

2,927

47,941

5,552

18,531

74,951

NET BOOK VALUE

At 31 January 2025

11,705

20,419

4,891

14,911

51,926

At 31 January 2024

13,169

24,023

5,754

19,881

62,827

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Trade debtors

19,320

11,963

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Trade creditors

2,487

11,984

Tax

4,143

1,928

Social security and other taxes

250

143

VAT

10,454

6,810

Directors' current accounts

41,069

45,547

Accrued expenses

1,757

1,722

60,160

68,134

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.1.25

31.1.24

£

Other loans (see note 9)

9,935

17,795

9.

LOANS

An analysis of the maturity of loans is given below:

31.1.25

31.1.24

£

Amounts falling due between one and two years:

Other loans - 1-2 years

9,935

17,795

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

100

Ordinary

£1

1

11.

RESERVES

Retained

earnings

£

At 1 February 2024

57,731

Profit for the year

5,284

At 31 January 2025

63,015