1 January 2024 false No description of principal activity Taxfiler 2024.6 true 05619824business:PrivateLimitedCompanyLtd2024-01-012024-12-31 056198242023-12-31 056198242024-01-012024-12-31 05619824business:AuditExemptWithAccountantsReport2024-01-012024-12-31 05619824business:FilletedAccounts2024-01-012024-12-31 056198242024-12-31 05619824business:Director12024-01-012024-12-31 05619824business:Director22024-01-012024-12-31 05619824business:Director32024-01-012024-12-31 05619824business:CompanySecretary12024-01-012024-12-31 05619824business:RegisteredOffice2024-01-012024-12-31 056198242023-12-31 05619824core:WithinOneYear2024-12-31 05619824core:WithinOneYear2023-12-31 05619824core:AfterOneYear2024-12-31 05619824core:AfterOneYear2023-12-31 05619824core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 05619824core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 05619824core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 05619824core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 05619824core:PreviouslyStatedAmount2024-12-31 05619824core:PreviouslyStatedAmount2023-12-31 05619824business:SmallEntities2024-01-012024-12-31 05619824countries:EnglandWales2024-01-012024-12-31 05619824core:PlantMachinery2024-01-012024-12-31 05619824core:MotorVehicles2024-01-012024-12-31 05619824core:LandBuildings2023-12-31 05619824core:PlantMachinery2023-12-31 05619824core:MotorVehicles2023-12-31 05619824core:LandBuildings2024-01-012024-12-31 05619824core:LandBuildings2024-12-31 05619824core:PlantMachinery2024-12-31 05619824core:MotorVehicles2024-12-31 05619824core:AdditionsToInvestments2024-12-31 05619824business:OrdinaryShareClass12024-01-012024-12-31 05619824business:OrdinaryShareClass12023-01-012023-12-31 05619824business:Director112024-01-012024-12-31 05619824business:Director112023-12-31 05619824business:Director112024-12-31 056198242023-01-012023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 05619824 (England and Wales)
Richard Craig Electrical Ltd Unaudited accounts for the year ended 31 December 2024
Richard Craig Electrical Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Richard Craig Electrical Ltd Company Information for the year ended 31 December 2024
Directors
R I Craig Mrs K M Craig L W Craig
Secretary
Mrs K M Craig
Company Number
05619824 (England and Wales)
Registered Office
Townsend Bungalow Llanwarne Hereford HR2 8JE
Accountants
Diana Duggan & Co 27 East Street Hereford HR1 2LU
- 3 -
Richard Craig Electrical Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
349,786 
324,364 
Investments
5
22,154 
11,154 
371,940 
335,518 
Current assets
Inventories
24,651 
38,904 
Debtors
6
247,237 
175,245 
Cash at bank and in hand
496,617 
778,454 
768,505 
992,603 
Creditors: amounts falling due within one year
7
(192,658)
(180,512)
Net current assets
575,847 
812,091 
Total assets less current liabilities
947,787 
1,147,609 
Creditors: amounts falling due after more than one year
8
(13,757)
(31,123)
Net assets
934,030 
1,116,486 
Capital and reserves
Called up share capital
9
10 
10 
Profit and loss account
934,020 
1,116,476 
Shareholders' funds
934,030 
1,116,486 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2025 and were signed on its behalf by
R I Craig Director Company Registration No. 05619824
- 4 -
Richard Craig Electrical Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Richard Craig Electrical Ltd is a private company, limited by shares, registered in England and Wales, registration number 05619824. The registered office is Townsend Bungalow, Llanwarne, Hereford, HR2 8JE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
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 & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Deferred 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.
Going concern
There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
Richard Craig Electrical Ltd Notes to the Accounts for the year ended 31 December 2024
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Rendering of services: Turnover from services is recognised on completion of services.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
16,007 
116,473 
425,476 
557,956 
Additions
- 
50,615 
62,100 
112,715 
At 31 December 2024
16,007 
167,088 
487,576 
670,671 
Depreciation
At 1 January 2024
- 
55,126 
178,466 
233,592 
Charge for the year
- 
16,794 
68,342 
85,136 
On disposals
- 
- 
2,157 
2,157 
At 31 December 2024
- 
71,920 
248,965 
320,885 
Net book value
At 31 December 2024
16,007 
95,168 
238,611 
349,786 
At 31 December 2023
16,007 
61,347 
247,010 
324,364 
5
Investments
Other investments 
£ 
Valuation at 1 January 2024
11,154 
Additions
11,000 
Valuation at 31 December 2024
22,154 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
243,214 
155,253 
Accrued income and prepayments
665 
- 
Other debtors
3,358 
19,992 
247,237 
175,245 
- 6 -
Richard Craig Electrical Ltd Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
6,793 
- 
Trade creditors
158,482 
65,798 
Taxes and social security
27,279 
87,279 
Loans from directors
104 
(49,839)
Accruals
- 
77,274 
192,658 
180,512 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
13,757 
31,123 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
R I Craig
Director's Advance
49,839 
- 
49,943 
(104)
49,839 
- 
49,943 
(104)
The director made repayments to his loan account of £49943 and the balance at 31 December 2024 was £104 (2023 £49839 o/d) and is included in other creditors. . The company is controlled by the director R I Craig.
11
Average number of employees
During the year the average number of employees was 6 (2023: 8).
- 7 -