Company Registration No. 05619824 (England and Wales)
Richard Craig Electrical Ltd
Unaudited accounts
for the year ended 31 December 2017
Richard Craig Electrical Ltd
Unaudited accounts
Contents
Richard Craig Electrical Ltd
Company Information
for the year ended 31 December 2017
Directors
R I Craig
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
Richard Craig Electrical Ltd
Statement of financial position
as at 31 December 2017
Tangible assets
47,635
50,733
Cash at bank and in hand
129,585
78,365
Creditors: amounts falling due within one year
(139,278)
(101,139)
Net current assets
198,761
95,180
Total assets less current liabilities
246,396
145,913
Creditors: amounts falling due after more than one year
-
(3,333)
Net assets
246,396
142,580
Called up share capital
1
1
Profit and loss account
246,395
142,579
Shareholders' funds
246,396
142,580
For the year ending 31 December 2017 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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.
Approved by the Board on 11 July 2018.
R I Craig
Director
Company Registration No. 05619824
Richard Craig Electrical Ltd
Notes to the Accounts
for the year ended 31 December 2017
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.
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.
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.
The accounts are presented in £ sterling.
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.
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
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.
There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.
Richard Craig Electrical Ltd
Notes to the Accounts
for the year ended 31 December 2017
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.
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Tangible fixed assets
Total
At 31 December 2017
151,054
Charge for the year
14,040
At 31 December 2017
103,419
At 31 December 2017
47,635
At 31 December 2016
50,733
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
6
Operating lease commitments
2017
2016
At 31 December 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
4,858
4,038
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Advance
41,496
1,270
-
42,766
£42,766 was repaid in full on 19 June 2018.
Richard Craig Electrical Ltd
Notes to the Accounts
for the year ended 31 December 2017
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Average number of employees
During the year the average number of employees was 0 (2016: 0).
