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REGISTERED NUMBER: SC047194 (Scotland)















CAMPBELL PLANT HIRE LIMITED

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021






CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 7

Statement of Financial Position 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


CAMPBELL PLANT HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: B Hancock
M Campbell
D J Maclachlan





REGISTERED OFFICE: 17b Henderson Drive
Longman Industrial Estate
Inverness
IV1 1TR





REGISTERED NUMBER: SC047194 (Scotland)





AUDITORS: DTE Business Advisers Limited
Chartered Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021


The directors present their report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the hire, sale and repair of plant and machinery.

REVIEW OF BUSINESS
During the year, the business has recovered from the impacts of the COVID-19 pandemic with turnover surpassing those of 2019. Discussions are being held with customers and suppliers, maintaining excellent relationships and managing expectations on payment terms to ensure that these relationships remain strong with the business. All other costs are being controlled and where possible reduced.

The profit before tax for 2019 was £571k and in 2021 it was £1,132k. The key reason for the increase in the profits for the business was due to the sale of fixed assets.

Given this, the directors consider the underlying results to be a good result for the year.

DIRECTORS
B Hancock has held office during the whole of the period from 1 January 2021 to the date of this report.

Other changes in directors holding office are as follows:

A Campbell - resigned 24 August 2021
J S Lloyd - resigned 30 June 2021
M Campbell - appointed 19 May 2021
D J Maclachlan - appointed 19 May 2021

FUTURE DEVELOPMENTS
The start of 2022 has been strong and the directors expect the general level of activity to result in a satisfactory trading result in the forthcoming year.

GOING CONCERN
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis in preparing the annual financial statements.

The directors have considered the impact of the COVID-19 pandemic and while they recognise that they cannot be expected to predict what will happen in the future with COVID-19, the directors have taken all possible steps to mitigate any risks created as a result of this. The directors will continue to take similar steps to those taken when the business was initially impacted by the pandemic.

Further details with regards to the adoption of the going concern status can be found in note 2 of the financial
statements.


CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
DTE Business Advisers Limited has indicated its willingness to be reappointed for another term and appropriate arrangements are being made for it to be deemed reappointed as auditor in the absence of an Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M Campbell - Director


19 May 2022

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CAMPBELL PLANT HIRE LIMITED


Opinion
We have audited the financial statements of Campbell Plant Hire Limited (the 'company') for the year ended 31 December 2021 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CAMPBELL PLANT HIRE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our planning process:

- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The company did not inform us of any known, suspected or alleged fraud.
- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006, Health & Safety at Work 1974, Employment Act 2008, and General Data Protection Regulations (GDPR).
- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
- Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CAMPBELL PLANT HIRE LIMITED


The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.
- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in particular, the estimation of the useful economic life of fixed assets, and the level of provision required for impairment of inventory and the level of provision required for bad and doubtful debts.
- Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entity's ability to continue in operation.
- Testing key revenue lines, in particular cut-off and walk-through, for evidence of management bias.
- Reviewing and testing control procedures, in particular any claims made under Coronavirus Job Retention Scheme.
- Performing a physical verification of key assets.
- Obtaining third-party confirmation of material bank and loan balances.
- Documenting and verifying all significant intercompany balances and transactions.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Taylor (Senior Statutory Auditor)
for and on behalf of DTE Business Advisers Limited
Chartered Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

19 May 2022

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2021

2021 2020
£    £   

TURNOVER 6,216,981 5,217,886

Cost of sales (3,697,815 ) (3,764,653 )
GROSS PROFIT 2,519,166 1,453,233

Administrative expenses (1,059,124 ) (1,044,997 )
1,460,042 408,236

Other operating income - 76,932
OPERATING PROFIT 1,460,042 485,168

Interest receivable and similar income 5 -
1,460,047 485,168

Interest payable and similar expenses (328,507 ) (350,999 )
PROFIT BEFORE TAXATION 1,131,540 134,169

Tax on profit (320,285 ) (34,700 )
PROFIT FOR THE FINANCIAL YEAR 811,255 99,469

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 13,222,641 11,007,243

CURRENT ASSETS
Inventories 76,849 58,922
Debtors 5 1,588,993 10,953,972
Cash at bank 94,526 218,962
1,760,368 11,231,856
CREDITORS
Amounts falling due within one year 6 (9,957,384 ) (7,891,655 )
NET CURRENT (LIABILITIES)/ASSETS (8,197,016 ) 3,340,201
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,025,625

14,347,444

CREDITORS
Amounts falling due after more than one
year

7

(342,404

)

(378,306

)

PROVISIONS FOR LIABILITIES (369,041 ) (212,346 )
NET ASSETS 4,314,180 13,756,792

CAPITAL AND RESERVES
Called up share capital 19,000 19,000
Share premium 2,000 2,000
Retained earnings 4,293,180 13,735,792
4,314,180 13,756,792

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2022 and were signed on its behalf by:





M Campbell - Director


CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 January 2020 19,000 13,636,323 2,000 13,657,323

Changes in equity
Total comprehensive income - 99,469 - 99,469
Balance at 31 December 2020 19,000 13,735,792 2,000 13,756,792

Changes in equity
Dividends - (10,253,867 ) - (10,253,867 )
Total comprehensive income - 811,255 - 811,255
Balance at 31 December 2021 19,000 4,293,180 2,000 4,314,180

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Campbell Plant Hire Limited is a private company incorporated in Scotland under the Companies Act and is limited by shares. The registered number is SC047194 and the registered office address is 17b Henderson Drive, Longman Industrial Estate, Inverness, IV1 1TR.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared using the going concern basis of accounting.

The directors have considered the current working capital requirements of the business and believe that it is well placed to manage the risks at these challenging times to ensure the Company is in a strong financial position.

Critical accounting estimates and judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported.

These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and value added tax. Turnover from the sale and hire of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of turnover can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably

Property, plant and equipment
Property, plant and equipment are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property- 2% reducing balance
Improvements to property- 25% reducing balance
Plant and machinery- 20% - 25% reducing balance
Fixtures and fittings- 25% reducing balance
Motor vehicles- 25% reducing balance
Computer equipment- 25% reducing balance

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Pension costs and other post-retirement benefits
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 19 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 197,126 15,837,989 16,035,115
Additions 25,213 13,939,612 13,964,825
Disposals - (12,112,103 ) (12,112,103 )
At 31 December 2021 222,339 17,665,498 17,887,837
DEPRECIATION
At 1 January 2021 60,326 4,967,546 5,027,872
Charge for year 2,838 3,240,728 3,243,566
Eliminated on disposal - (3,606,242 ) (3,606,242 )
At 31 December 2021 63,164 4,602,032 4,665,196
NET BOOK VALUE
At 31 December 2021 159,175 13,063,466 13,222,641
At 31 December 2020 136,800 10,870,443 11,007,243

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2021 660,914
Additions 674,668
Disposals (452,214 )
At 31 December 2021 883,368
DEPRECIATION
At 1 January 2021 133,045
Charge for year 237,214
Eliminated on disposal (152,431 )
At 31 December 2021 217,828
NET BOOK VALUE
At 31 December 2021 665,540
At 31 December 2020 527,869

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 1,193,333 1,122,148
Amounts owed by group undertakings 320,000 9,780,221
Other debtors 75,660 51,603
1,588,993 10,953,972

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 8,172,909 6,141,990
Hire purchase contracts (see note 8) 251,981 211,692
Trade creditors 660,809 750,132
Amounts owed to group undertakings 313,358 306,141
Taxation and social security 454,299 413,068
Other creditors 104,028 68,632
9,957,384 7,891,655

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 35,000 45,000
Hire purchase contracts (see note 8) 307,404 333,306
342,404 378,306

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Net obligations repayable:
Within one year 251,981 211,692
Between one and five years 307,404 333,306
559,385 544,998

Non-cancellable operating leases
2021 2020
£    £   
Within one year 21,300 21,300
Between one and five years 85,200 85,200
In more than five years 1,382,725 1,404,025
1,489,225 1,510,525

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank overdrafts 8,162,909 6,136,990
Hire purchase contracts 559,385 544,998
8,722,294 6,681,988

ABN AMRO holds a standard security over the buildings, fixtures and fixed plant and machinery, along with a floating charge over the other assets of the company.

Hire purchase agreements are secured over the assets to which they relate.

CAMPBELL PLANT HIRE LIMITED (REGISTERED NUMBER: SC047194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


10. RELATED PARTY DISCLOSURES

The company has taken advantage of the disclosure exemptions available in FRS 102 Section 33 in relation to balances and transactions between other wholly owned entities within the group headed by CorpAcq Limited.

During the year the company made sales totalling £7,290 (2020: £16,571 to fellow subsidiaries and purchases from them totalling £1,345,570 (2020: £321,137).

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is Campbell Plant Hire (Holdings) Limited. The ultimate parent company is Orange UK Holdings Limited (Registered office of both immediate and ultimate parent: CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW). Both are companies registered in England and Wales.

The largest and smallest group in which the results of the company are consolidated is that headed by CorpAcq Limited. The consolidated financial statements of the group are available to the public and may be obtained from CorpAcq Limited at CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW, United Kingdom.

The directors consider that, by virtue of his shareholding in the ultimate parent company, the ultimate controlling party is Mr S Orange.