Silverfin false 30/09/2021 30/09/2021 01/10/2020 Iain Forsyth Campbell 11/09/2014 David Gibb 11/09/2014 10 August 2022 The principal activity of the Company during the financial year continued to be that of the provision of dental services. SC486527 2021-09-30 SC486527 bus:Director1 2021-09-30 SC486527 bus:Director2 2021-09-30 SC486527 2020-09-30 SC486527 core:CurrentFinancialInstruments 2021-09-30 SC486527 core:CurrentFinancialInstruments 2020-09-30 SC486527 core:ShareCapital 2021-09-30 SC486527 core:ShareCapital 2020-09-30 SC486527 core:RetainedEarningsAccumulatedLosses 2021-09-30 SC486527 core:RetainedEarningsAccumulatedLosses 2020-09-30 SC486527 core:Goodwill 2020-09-30 SC486527 core:Goodwill 2021-09-30 SC486527 core:OtherPropertyPlantEquipment 2020-09-30 SC486527 core:OtherPropertyPlantEquipment 2021-09-30 SC486527 2019-09-30 SC486527 bus:OrdinaryShareClass1 2021-09-30 SC486527 bus:OrdinaryShareClass2 2021-09-30 SC486527 2020-10-01 2021-09-30 SC486527 bus:FullAccounts 2020-10-01 2021-09-30 SC486527 bus:SmallEntities 2020-10-01 2021-09-30 SC486527 bus:AuditExemptWithAccountantsReport 2020-10-01 2021-09-30 SC486527 bus:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 SC486527 bus:Director1 2020-10-01 2021-09-30 SC486527 bus:Director2 2020-10-01 2021-09-30 SC486527 core:Goodwill core:TopRangeValue 2020-10-01 2021-09-30 SC486527 core:Goodwill 2020-10-01 2021-09-30 SC486527 core:OtherPropertyPlantEquipment 2020-10-01 2021-09-30 SC486527 2019-10-01 2020-09-30 SC486527 bus:OrdinaryShareClass1 2020-10-01 2021-09-30 SC486527 bus:OrdinaryShareClass1 2019-10-01 2020-09-30 SC486527 bus:OrdinaryShareClass2 2020-10-01 2021-09-30 SC486527 bus:OrdinaryShareClass2 2019-10-01 2020-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC486527 (Scotland)

CAMPBELL AND GIBB LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH THE REGISTRAR

CAMPBELL AND GIBB LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021

Contents

CAMPBELL AND GIBB LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2021
CAMPBELL AND GIBB LIMITED

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2021
Note 2021 2020
£ £
Fixed assets
Intangible assets 3 237,000 316,000
Tangible assets 4 81,363 67,135
Investment property 5 55,964 55,964
374,327 439,099
Current assets
Stocks 2,997 3,407
Debtors 6 101,848 90,845
Cash at bank and in hand 7 114,477 109,467
219,322 203,719
Creditors
Amounts falling due within one year 8 ( 135,178) ( 338,230)
Net current assets/(liabilities) 84,144 (134,511)
Total assets less current liabilities 458,471 304,588
Provision for liabilities 9, 10 ( 11,437) ( 4,693)
Net assets 447,034 299,895
Capital and reserves
Called-up share capital 11 100 100
Profit and loss account 446,934 299,795
Total shareholders' funds 447,034 299,895

For the financial year ending 30 September 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Campbell and Gibb Limited (registered number: SC486527) were approved and authorised for issue by the Director on 10 August 2022. They were signed on its behalf by:

Iain Forsyth Campbell
Director
David Gibb
Director
CAMPBELL AND GIBB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
CAMPBELL AND GIBB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Campbell and Gibb Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 15 Academy Street, Forfar, DD8 2HA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for dental services net of trade discounts

Turnover is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 19 16

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2020 790,000 790,000
At 30 September 2021 790,000 790,000
Accumulated amortisation
At 01 October 2020 474,000 474,000
Charge for the financial year 79,000 79,000
At 30 September 2021 553,000 553,000
Net book value
At 30 September 2021 237,000 237,000
At 30 September 2020 316,000 316,000

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2020 152,317 152,317
Additions 26,065 26,065
At 30 September 2021 178,382 178,382
Accumulated depreciation
At 01 October 2020 85,182 85,182
Charge for the financial year 11,837 11,837
At 30 September 2021 97,019 97,019
Net book value
At 30 September 2021 81,363 81,363
At 30 September 2020 67,135 67,135

5. Investment property

Investment property
£
Valuation
As at 01 October 2020 55,964
As at 30 September 2021 55,964

Investment property comprises a flat in Brechin. The fair value of the investment property has been arrived at on the basis of a valuation by the directors. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

6. Debtors

2021 2020
£ £
Trade debtors 86,366 90,845
Other debtors 15,482 0
101,848 90,845

7. Cash and cash equivalents

2021 2020
£ £
Cash at bank and in hand 114,477 109,467

8. Creditors: amounts falling due within one year

2021 2020
£ £
Other creditors 67,439 311,035
Corporation tax 64,388 25,764
Other taxation and social security 3,351 1,431
135,178 338,230

9. Provision for liabilities

2021 2020
£ £
Deferred tax 11,437 4,693

10. Deferred tax

2021 2020
£ £
At the beginning of financial year ( 4,693) ( 2,584)
Charged to the Statement of Income and Retained Earnings ( 6,744) ( 2,109)
At the end of financial year ( 11,437) ( 4,693)

11. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100