craig, as himself, always introduces the skit by saying 'as you know prince charles it the prince fo england, but what you may not know is that he is also the king of late night in england where he has a show called 'the rather late programme', lets take a look!'
then we see craig all dressed up where he does a very lame brief monologue as prince charles, which usually includes some sort of reference to camilla looking like a horse...
'lets ascend to the throne, shall we?' prince charles asks, and has a seat on his throne, with a royal guard standing next to him. he makes a couple jokes, always trying to get the guy playing the guard to laugh. usually it works. he then asks 'do we have time for a royal parchment?', reads it, and we hear the 'sheep of time', so its time to go!
its quite formulaic, but still very funny because most the time pieces of the costume are falling off, or craig improvs in order to get the guard to laugh and laughs himself in the process!