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REGISTERED NUMBER: SC395052 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GRAEME CRAIG CONSULTING
ENGINEERS LTD.

GRAEME CRAIG CONSULTING
ENGINEERS LTD. (REGISTERED NUMBER: SC395052)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 8

GRAEME CRAIG CONSULTING
ENGINEERS LTD.

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: G K Craig
Mrs F Craig





REGISTERED OFFICE: Kempstone Hill
Stonehaven
Aberdeenshire
AB39 3QE





REGISTERED NUMBER: SC395052 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

GRAEME CRAIG CONSULTING
ENGINEERS LTD. (REGISTERED NUMBER: SC395052)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,424 2,099
18,424 2,099

CURRENT ASSETS
Stocks 6 5,060 4,299
Debtors 7 12,170 8,687
Cash at bank 19,541 28,283
36,771 41,269
CREDITORS
Amounts falling due within one year 8 39,320 30,233
NET CURRENT (LIABILITIES)/ASSETS (2,549 ) 11,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,875

13,135

CREDITORS
Amounts falling due after more than one year 9 (11,067 ) -

PROVISIONS FOR LIABILITIES (4,596 ) (525 )
NET ASSETS 212 12,610

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 112 12,510
SHAREHOLDERS' FUNDS 212 12,610

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:



G K Craig - Director


GRAEME CRAIG CONSULTING
ENGINEERS LTD. (REGISTERED NUMBER: SC395052)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Graeme Craig Consulting Engineers Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible fixed assets
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer software - 20% Straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets
Basic financial assets, which include trade debtors and bank balances, are measured at transaction price including transaction costs.
Financial assets are derecognsied when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, which include trade and other creditors, are recognised at transaction price.
Financial liabilities are derecognised when the company's contractual obligations are discharged.

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 statement of financial position date.


GRAEME CRAIG CONSULTING
ENGINEERS LTD. (REGISTERED NUMBER: SC395052)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account 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 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 63,200 3,264 66,464
AMORTISATION
At 1 April 2023
and 31 March 2024 63,200 3,264 66,464
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

GRAEME CRAIG CONSULTING
ENGINEERS LTD. (REGISTERED NUMBER: SC395052)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 700 1,779 - 11,321 13,800
Additions - 1,066 19,214 466 20,746
At 31 March 2024 700 2,845 19,214 11,787 34,546
DEPRECIATION
At 1 April 2023 700 970 - 10,031 11,701
Charge for year - 431 2,882 1,108 4,421
At 31 March 2024 700 1,401 2,882 11,139 16,122
NET BOOK VALUE
At 31 March 2024 - 1,444 16,332 648 18,424
At 31 March 2023 - 809 - 1,290 2,099

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 19,214
At 31 March 2024 19,214
DEPRECIATION
Charge for year 2,882
At 31 March 2024 2,882
NET BOOK VALUE
At 31 March 2024 16,332

6. STOCKS
2024 2023
£    £   
Stock and work in progress 5,060 4,299

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,597 5,216
Other debtors 3,573 3,471
12,170 8,687

GRAEME CRAIG CONSULTING
ENGINEERS LTD. (REGISTERED NUMBER: SC395052)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 2,600 -
Trade creditors 108 199
Taxation and social security 19,441 24,246
Other creditors 17,171 5,788
39,320 30,233

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 11,067 -

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,600 -
Between one and five years 11,067 -
13,667 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 792 792
Between one and five years 792 1,188
1,584 1,980

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
G K Craig
Balance outstanding at start of year (5,151 ) (4,191 )
Amounts advanced - 1,295
Amounts repaid (6,012 ) (2,255 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,163 ) (5,151 )

GRAEME CRAIG CONSULTING
ENGINEERS LTD. (REGISTERED NUMBER: SC395052)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs F Craig
Balance outstanding at start of year (638 ) (1,147 )
Amounts advanced - 1,295
Amounts repaid (5,369 ) (786 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,007 ) (638 )

The loans are interest free, unsecured and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are deemed to be the company directors Mr Graeme Craig and Mrs Fiona Craig.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GRAEME CRAIG CONSULTING
ENGINEERS LTD.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graeme Craig Consulting Engineers Ltd. for the year ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Graeme Craig Consulting Engineers Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Graeme Craig Consulting Engineers Ltd. and state those matters that we have agreed to state to the Board of Directors of Graeme Craig Consulting Engineers Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Graeme Craig Consulting Engineers Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Graeme Craig Consulting Engineers Ltd.. You consider that Graeme Craig Consulting Engineers Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Graeme Craig Consulting Engineers Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


28 November 2024