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REGISTERED NUMBER: 03366312 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED

G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 03366312)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: G M Craig
Mrs L E Craig
N G Craig





SECRETARY: Mrs L E Craig





REGISTERED OFFICE: Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP





REGISTERED NUMBER: 03366312 (England and Wales)





ACCOUNTANTS: J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED

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 Balance Sheet. 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 G.M. Craig (Building Contractors) Limited for the year ended 31 January 2025 which comprise the Profit and Loss Account, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of G.M. Craig (Building Contractors) Limited, 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 G.M. Craig (Building Contractors) Limited and state those matters that we have agreed to state to the Board of Directors of G.M. Craig (Building Contractors) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G.M. Craig (Building Contractors) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G.M. Craig (Building Contractors) Limited 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 G.M. Craig (Building Contractors) Limited. You consider that G.M. Craig (Building Contractors) Limited 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 G.M. Craig (Building Contractors) Limited. 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.






J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP


30 April 2025

G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 03366312)

BALANCE SHEET
31 JANUARY 2025

31/1/25 31/1/24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 235,977 231,885

CURRENT ASSETS
Stocks 1,371,681 2,085,659
Debtors 5 245,449 108,558
Cash at bank 129 3,393
1,617,259 2,197,610
CREDITORS
Amounts falling due within one year 6 232,422 899,252
NET CURRENT ASSETS 1,384,837 1,298,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,620,814

1,530,243

CREDITORS
Amounts falling due after more than one
year

7

(36,939

)

(29,786

)

PROVISIONS FOR LIABILITIES (58,994 ) (39,821 )
NET ASSETS 1,524,881 1,460,636

CAPITAL AND RESERVES
Called up share capital 88,643 88,643
Share premium 14,570 14,570
Retained earnings 1,421,668 1,357,423
SHAREHOLDERS' FUNDS 1,524,881 1,460,636

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 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.

G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 03366312)

BALANCE SHEET - continued
31 JANUARY 2025


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





G M Craig - Director


G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 03366312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

G.M. Craig (Building Contractors) Limited is a private company, limited by shares , registered in England and Wales. 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.

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 - 15% on reducing balance
Fixtures and fittings - 25% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 03366312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2024 214,386 30,433 231,195 476,014
Additions 60,850 - - 60,850
Disposals (28,080 ) - - (28,080 )
At 31 January 2025 247,156 30,433 231,195 508,784
DEPRECIATION
At 1 February 2024 125,940 23,538 94,651 244,129
Charge for year 13,267 1,035 34,135 48,437
Eliminated on disposal (19,759 ) - - (19,759 )
At 31 January 2025 119,448 24,573 128,786 272,807
NET BOOK VALUE
At 31 January 2025 127,708 5,860 102,409 235,977
At 31 January 2024 88,446 6,895 136,544 231,885

G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 03366312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2024 55,300 59,667 114,967
Additions 60,850 - 60,850
Transfer to ownership (55,300 ) - (55,300 )
At 31 January 2025 60,850 59,667 120,517
DEPRECIATION
At 1 February 2024 19,369 14,917 34,286
Charge for year - 11,187 11,187
Transfer to ownership (19,369 ) - (19,369 )
At 31 January 2025 - 26,104 26,104
NET BOOK VALUE
At 31 January 2025 60,850 33,563 94,413
At 31 January 2024 35,931 44,750 80,681

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/25 31/1/24
£    £   
Trade debtors 115,125 47,955
Other debtors 130,324 60,603
245,449 108,558

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/25 31/1/24
£    £   
Bank loans and overdrafts 2,871 -
Hire purchase contracts 27,697 8,158
Trade creditors 135,519 869,878
Taxation and social security 58,074 13,130
Other creditors 8,261 8,086
232,422 899,252

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/25 31/1/24
£    £   
Hire purchase contracts 36,939 29,786

G.M. CRAIG (BUILDING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 03366312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

31/1/25 31/1/24
£    £   
N G Craig
Balance outstanding at start of year 3,623 -
Amounts advanced 9,086 3,623
Amounts repaid (3,623 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,086 3,623