2023-04-012024-03-312024-03-31false03546961CRAIG SPECIALIST SERVICES LTD2024-08-2225990iso4217:GBPxbrli:pure035469612023-04-01035469612024-03-31035469612023-04-012024-03-31035469612022-04-01035469612023-03-31035469612022-04-012023-03-3103546961bus:SmallEntities2023-04-012024-03-3103546961bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3103546961bus:FullAccounts2023-04-012024-03-3103546961bus:PrivateLimitedCompanyLtd2023-04-012024-03-3103546961core:WithinOneYear2024-03-3103546961core:AfterOneYear2024-03-3103546961core:WithinOneYear2023-03-3103546961core:AfterOneYear2023-03-3103546961core:ShareCapital2024-03-3103546961core:SharePremium2024-03-3103546961core:RevaluationReserve2024-03-3103546961core:OtherReservesSubtotal2024-03-3103546961core:RetainedEarningsAccumulatedLosses2024-03-3103546961core:ShareCapital2023-03-3103546961core:SharePremium2023-03-3103546961core:RevaluationReserve2023-03-3103546961core:OtherReservesSubtotal2023-03-3103546961core:RetainedEarningsAccumulatedLosses2023-03-3103546961core:LandBuildings2024-03-3103546961core:PlantMachinery2024-03-3103546961core:Vehicles2024-03-3103546961core:FurnitureFittings2024-03-3103546961core:OfficeEquipment2024-03-3103546961core:NetGoodwill2024-03-3103546961core:IntangibleAssetsOtherThanGoodwill2024-03-3103546961core:ListedExchangeTraded2024-03-3103546961core:UnlistedNon-exchangeTraded2024-03-3103546961core:LandBuildings2023-03-3103546961core:PlantMachinery2023-03-3103546961core:Vehicles2023-03-3103546961core:FurnitureFittings2023-03-3103546961core:OfficeEquipment2023-03-3103546961core:NetGoodwill2023-03-3103546961core:IntangibleAssetsOtherThanGoodwill2023-03-3103546961core:ListedExchangeTraded2023-03-3103546961core:UnlistedNon-exchangeTraded2023-03-3103546961core:LandBuildings2023-04-012024-03-3103546961core:PlantMachinery2023-04-012024-03-3103546961core:Vehicles2023-04-012024-03-3103546961core:FurnitureFittings2023-04-012024-03-3103546961core:OfficeEquipment2023-04-012024-03-3103546961core:NetGoodwill2023-04-012024-03-3103546961core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103546961core:ListedExchangeTraded2023-04-012024-03-3103546961core:UnlistedNon-exchangeTraded2023-04-012024-03-3103546961core:MoreThanFiveYears2023-04-012024-03-3103546961core:Non-currentFinancialInstruments2024-03-3103546961core:Non-currentFinancialInstruments2023-03-3103546961dpl:CostSales2023-04-012024-03-3103546961dpl:DistributionCosts2023-04-012024-03-3103546961core:LandBuildings2023-04-012024-03-3103546961core:PlantMachinery2023-04-012024-03-3103546961core:Vehicles2023-04-012024-03-3103546961core:FurnitureFittings2023-04-012024-03-3103546961core:OfficeEquipment2023-04-012024-03-3103546961dpl:AdministrativeExpenses2023-04-012024-03-3103546961core:NetGoodwill2023-04-012024-03-3103546961core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103546961dpl:GroupUndertakings2023-04-012024-03-3103546961dpl:ParticipatingInterests2023-04-012024-03-3103546961dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3103546961core:ListedExchangeTraded2023-04-012024-03-3103546961dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3103546961core:UnlistedNon-exchangeTraded2023-04-012024-03-3103546961dpl:CostSales2022-04-012023-03-3103546961dpl:DistributionCosts2022-04-012023-03-3103546961core:LandBuildings2022-04-012023-03-3103546961core:PlantMachinery2022-04-012023-03-3103546961core:Vehicles2022-04-012023-03-3103546961core:FurnitureFittings2022-04-012023-03-3103546961core:OfficeEquipment2022-04-012023-03-3103546961dpl:AdministrativeExpenses2022-04-012023-03-3103546961core:NetGoodwill2022-04-012023-03-3103546961core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103546961dpl:GroupUndertakings2022-04-012023-03-3103546961dpl:ParticipatingInterests2022-04-012023-03-3103546961dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3103546961core:ListedExchangeTraded2022-04-012023-03-3103546961dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3103546961core:UnlistedNon-exchangeTraded2022-04-012023-03-3103546961core:NetGoodwill2024-03-3103546961core:IntangibleAssetsOtherThanGoodwill2024-03-3103546961core:LandBuildings2024-03-3103546961core:PlantMachinery2024-03-3103546961core:Vehicles2024-03-3103546961core:FurnitureFittings2024-03-3103546961core:OfficeEquipment2024-03-3103546961core:AfterOneYear2024-03-3103546961core:WithinOneYear2024-03-3103546961core:ListedExchangeTraded2024-03-3103546961core:UnlistedNon-exchangeTraded2024-03-3103546961core:ShareCapital2024-03-3103546961core:SharePremium2024-03-3103546961core:RevaluationReserve2024-03-3103546961core:OtherReservesSubtotal2024-03-3103546961core:RetainedEarningsAccumulatedLosses2024-03-3103546961core:NetGoodwill2023-03-3103546961core:IntangibleAssetsOtherThanGoodwill2023-03-3103546961core:LandBuildings2023-03-3103546961core:PlantMachinery2023-03-3103546961core:Vehicles2023-03-3103546961core:FurnitureFittings2023-03-3103546961core:OfficeEquipment2023-03-3103546961core:AfterOneYear2023-03-3103546961core:WithinOneYear2023-03-3103546961core:ListedExc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CRAIG SPECIALIST SERVICES LTD

Registered Number
03546961
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

CRAIG SPECIALIST SERVICES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

HARRIS, Craig Paul
HEATH, Mark Stephen

Company Secretary

HARRIS, Jack William Ronald

Registered Address

Unit D Altham Industrial Estate
Metcalf Drive
Accrington
BB5 5TU

Registered Number

03546961 (England and Wales)
CRAIG SPECIALIST SERVICES LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3236,681146,098
236,681146,098
Current assets
Stocks465,000120,000
Debtors5603,265283,972
Cash at bank and on hand165,966153,527
834,231557,499
Creditors amounts falling due within one year6(330,105)(271,102)
Net current assets (liabilities)504,126286,397
Total assets less current liabilities740,807432,495
Creditors amounts falling due after one year7(93,929)(55,876)
Provisions for liabilities10(58,571)(26,392)
Net assets588,307350,227
Capital and reserves
Called up share capital100100
Profit and loss account588,207350,127
Shareholders' funds588,307350,227
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
HARRIS, Craig Paul
Director
Registered Company No. 03546961
CRAIG SPECIALIST SERVICES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-4
Plant and machinery25-
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year1210
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 2318,065342,041114,724109,6427,826592,298
Additions-124,000--5,264129,264
Disposals(8,470)----(8,470)
At 31 March 249,595466,041114,724109,64213,090713,092
Depreciation and impairment
At 01 April 2313,263266,79361,98598,9985,161446,200
Charge for year2,40318,81213,1852,6611,62038,681
On disposals(8,470)----(8,470)
At 31 March 247,196285,60575,170101,6596,781476,411
Net book value
At 31 March 242,399180,43639,5547,9836,309236,681
At 31 March 234,80275,24852,73910,6442,665146,098
Included within the above fixed assets are assets which are held under hire purchase contracts.
4.Stocks

2024

2023

££
Work in progress30,00080,000
Other stocks35,00040,000
Total65,000120,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables515,104270,796
Amounts owed by associates and joint ventures / participating interests74,409-
Other debtors7,8334,978
Prepayments and accrued income5,9198,198
Total603,265283,972
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables93,01334,356
Bank borrowings and overdrafts13,00812,000
Amounts owed to related parties-70,233
Taxation and social security164,290116,169
Finance lease and HP contracts54,10731,678
Other creditors2,3133,292
Accrued liabilities and deferred income3,3743,374
Total330,105271,102
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts11,30026,318
Other creditors82,62929,558
Total93,92955,876
Other creditors consists of Finance Lease and HP contracts only.
8.Secured creditors
Bank Loans are secured by the way of a fixed and floating charge over the assets of the business. Finance Lease and HP contracts are secured against the relevant assets.
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts82,63029,558
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)58,57126,392
Total58,57126,392
11.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
HARRIS, Craig Paul(70,233)156,292086,059
(70,233)156,292086,059
The above loan is provided interest free and repayable on demand.