Registered number
SC241554
Stephen Craig Limited
Unaudited Filleted Accounts
31 March 2025
Stephen Craig Limited
Registered number: SC241554
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Investments 4 119,128 107,007
Current assets
Debtors 5 57,707 28,286
Cash at bank and in hand 581,599 618,983
639,306 647,269
Creditors: amounts falling due within one year 6 (36,035) (51,439)
Net current assets 603,271 595,830
Total assets less current liabilities 722,399 702,837
Provisions for liabilities (8,532) (4,181)
Net assets 713,867 698,656
Capital and reserves
Called up share capital 2 2
Profit and loss account 713,865 698,654
Shareholder's funds 713,867 698,656
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Craig
Director
Approved by the board on 21 May 2025
Stephen Craig Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
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).
Turnover
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Investments
Investments are recognised initially at fair value which is normally the transaction price
excluding transaction costs. Subsequently, they are measured at fair value through profit or loss
if the shares are publicly traded or their fair value can otherwise be measured reliably.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 2,248
At 31 March 2025 2,248
Depreciation
At 1 April 2024 2,248
At 31 March 2025 2,248
Net book value
At 31 March 2025 -
4 Investments
Other
investments
£
Cost
At 1 April 2024 107,007
Additions 12,121
At 31 March 2025 119,128
5 Debtors 2025 2024
£ £
Trade debtors 48,834 27,545
Other debtors 8,873 741
57,707 28,286
6 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 22,935 28,426
Other creditors 13,100 23,013
36,035 51,439
7 Other information
Stephen Craig Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
The Orchard
23a Doune Road
Dunblane
FK15 9AR
Stephen Craig Limited SC241554 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts April 2025 Mr S Craig No description of principal activity SC241554 2023-04-01 2024-03-31 SC241554 core:WithinOneYear 2024-03-31 SC241554 core:ShareCapital 2024-03-31 SC241554 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC241554 2024-04-01 2025-03-31 SC241554 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC241554 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC241554 bus:Director40 2024-04-01 2025-03-31 SC241554 1 2024-04-01 2025-03-31 SC241554 2 2024-04-01 2025-03-31 SC241554 countries:England 2024-04-01 2025-03-31 SC241554 bus:FRS102 2024-04-01 2025-03-31 SC241554 bus:FilletedAccounts 2024-04-01 2025-03-31 SC241554 2025-03-31 SC241554 core:WithinOneYear 2025-03-31 SC241554 core:ShareCapital 2025-03-31 SC241554 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC241554 core:PlantMachinery 2025-03-31 SC241554 2024-03-31 SC241554 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure