Cheers for pointing that out Tesla. I'll make sure when I actually put this all together those issues are fixed.
Looks like I did overlook something else also. It seems when using a linear voltage regulator (or at least this 7805 one), the input voltage has to be 2-2.5v higher than the output. So if the input is 6v, this won't give me a 5v output.
One question I have on this though is would it simply just not work or will it output 4V (which is not what I want but I'm just curious). I would try some of this out myself with a multimeter, but the part haven't arrived in the mail yet 