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REGISTERED NUMBER: 01056494 (England and Wales)
















COPPARD PLANT HIRE LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


COPPARD PLANT HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: D B Coppard
B E Coppard
A L Coppard
J T Coppard
K F Coppard
L T Etherington
Q Coppard





REGISTERED OFFICE: Wraysbury
Crowborough Hill
Crowborough
East Sussex
TN6 2JE





REGISTERED NUMBER: 01056494 (England and Wales)





AUDITORS: Lakeview Southern Audit Limited
Chartered Accountants and
Statutory Auditors
2 Lakeview Stables
Lower St. Clere
Kemsing
Sevenoaks
Kent
TN15 6NL

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2023


The directors present their strategic report of the company and the group for the year ended 30 June 2023.

REVIEW OF BUSINESS
Coppard Plant Hire Ltd continues to develop as a sustainable, high achieving plant hire company.

The Company has had another successful year with continued investment increasing its large portfolio of plant hire equipment. The reinvestment has helped achieve very high balance sheet growth whilst the good performance has also helped not only maintain but improve the company's strong cash position. The Company is well placed to continue its growth and profitability by strengthening its brand and market reputation within the South-East with both its corporate and private customers.

Our KPIs and objectives were achieved or exceeded and were as follows:

- Continued to ensure that our client portfolio is diverse, this has helped achieve our revenue growth.
- We aim to hold an increase in working capital increasing by £1.3m from £4m to £5.3m to enable us to invest in new equipment in the market as it becomes available and help us to meet client demand.
- Increase balance sheet value by over £2m from £24.1m to £26.4m.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors monitor risks and uncertainties likely to affect the company on an ongoing basis.

Financial Instruments and Risk Management

The companies cash position continues to strengthen which helps allow an increased reinvestment in new equipment for hire. The directors do not believe there is any substantial risk in relation to price or credit risk. The company's cash position remains strong with over £3.4million held and this coupled with the healthy balance sheet value minimises the risk of liquidity and cash flow challenges.

Economic Uncertainties

We recognise the main uncertainties and risks relate to the uncertainties surrounding the rise of inflation, the effect of costs rising will have particular impact on our European income stream. This may result in future lost sales, although the entire industry is affected.

Other Risks

At the present time, the directors consider the principal risk to the company to be in relation to cyber-attacks and are aware that there is an inherent risk in this area which is difficult to mitigate fully. However, the company continues to invest in protective technology and maintains a strong ethos of monitoring and awareness within departments which could be susceptible to such attacks.


COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2023

FUTURE DEVELOPMENTS
The company intends to maintain it's policy of investment in assets for hire in order to maintain and enhance it's position within the market, although as noted above it has proven difficult to purchase the desired level of machinery throughout the year. This will assist in the companies objective of continued year on year growth and in addition the investment in replacement vehicles will be necessary as the economic policy in the UK continues to extend areas where only low emission vehicles can visit. In addition, the company will continue to acquire further freehold land and buildings as the opportunities arise following the successful development which was sold during the year.

Subsequent to the year end, the trade and some of the assets of the company that supports the main software used within the business was purchased to safeguard the availability and future development of the software. The directors consider this to be a strategic acquisition to protect the current IT systems and avoid significant internal disruption should support cease to be continued.

ON BEHALF OF THE BOARD:





D B Coppard - Director


8 January 2024

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2023


The directors present their report with the financial statements of the company and the group for the year ended 30 June 2023.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of the sale and hire of plant and machinery.

DIVIDENDS
Interim dividends of £9.80 per B Ordinary share were paid during the year. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30th June 2023 will be £480,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

D B Coppard
B E Coppard
A L Coppard
J T Coppard
K F Coppard
L T Etherington
Q Coppard

DONATIONS AND EXPENDITURE
Donations of £11,970 were made to various charities.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2023


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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Lakeview Southern Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D B Coppard - Director


8 January 2024

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


Opinion
We have audited the financial statements of Coppard Plant Hire Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 June 2023 and of the group's 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 group 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 group's and the parent 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 Group Strategic Report and 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.

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


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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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


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:

We considered the central laws and regulations to the entity and identified those being of significance. We undertook an enquiry of management and those charged with governance to evaluate those of significance and any instances of non-compliance.

Through discussion and, where appropriate, written representation we obtained an understanding of the entity's policies and procedures in relation to fraud risks, including knowledge of any actual, suspected or alleged fraud.
The Senior Statutory Auditor has assessed that the engagement team collectively have the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations within the areas that they are responsible for testing.

Where necessary, documentation scrutiny was used to determine the significance of any instances with non-compliance of central laws and regulations and reviewed disclosures made in the financial statements to ensure these were appropriately made. We also reviewed the journals processed by the finance team and reviewed all transactions outside the normal course of the entity's business.

We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Irregularities that result from fraud are inherently more difficult to detect from irregularities that result from error.

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.

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


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.




Adrian Hull (Senior Statutory Auditor)
for and on behalf of Lakeview Southern Audit Limited
Chartered Accountants and
Statutory Auditors
2 Lakeview Stables
Lower St. Clere
Kemsing
Sevenoaks
Kent
TN15 6NL

8 January 2024

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023

30.6.23 30.6.22
Notes £    £   

TURNOVER 3 27,901,219 23,076,828

Cost of sales 21,666,540 16,817,910
GROSS PROFIT 6,234,679 6,258,918

Administrative expenses 3,751,298 2,705,489
2,483,381 3,553,429

Other operating income 133,543 153,565
OPERATING PROFIT 5 2,616,924 3,706,994

Interest receivable and similar income 19,554 1,116
2,636,478 3,708,110

Interest payable and similar expenses 7 118,077 5,959
PROFIT BEFORE TAXATION 2,518,401 3,702,151

Tax on profit 8 338,139 917,325
PROFIT FOR THE FINANCIAL YEAR 2,180,262 2,784,826
Profit attributable to:
Owners of the parent 2,180,262 2,784,826

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2023

30.6.23 30.6.22
Notes £    £   

PROFIT FOR THE YEAR 2,180,262 2,784,826


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,180,262

2,784,826

Total comprehensive income attributable to:
Owners of the parent 2,180,262 2,784,826

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

CONSOLIDATED BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 2,053,498 2,355,606
Tangible assets 12 20,407,479 20,763,041
Investments 13 - -
Investment property 14 289,000 289,000
22,749,977 23,407,647

CURRENT ASSETS
Stocks 15 2,066,064 2,129,530
Debtors 16 3,979,856 3,041,738
Cash at bank and in hand 3,478,056 2,274,331
9,523,976 7,445,599
CREDITORS
Amounts falling due within one year 17 3,842,457 3,406,737
NET CURRENT ASSETS 5,681,519 4,038,862
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,431,496

27,446,509

CREDITORS
Amounts falling due after more than one year 18 (1,729,903 ) (2,304,596 )

PROVISIONS FOR LIABILITIES 22 (993,154 ) (1,133,736 )
NET ASSETS 25,708,439 24,008,177

CAPITAL AND RESERVES
Called up share capital 23 100,000 100,000
Retained earnings 24 25,608,439 23,908,177
SHAREHOLDERS' FUNDS 25,708,439 24,008,177

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2024 and were signed on its behalf by:





D B Coppard - Director


COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

COMPANY BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 62,500 23,333
Tangible assets 12 22,289,383 19,644,945
Investments 13 602 3,793,242
Investment property 14 289,000 289,000
22,641,485 23,750,520

CURRENT ASSETS
Stocks 15 2,066,064 2,129,530
Debtors 16 3,979,856 2,963,107
Cash at bank and in hand 3,478,056 2,160,319
9,523,976 7,252,956
CREDITORS
Amounts falling due within one year 17 3,842,557 3,522,123
NET CURRENT ASSETS 5,681,419 3,730,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,322,904

27,481,353

CREDITORS
Amounts falling due after more than one year 18 (1,729,903 ) (2,304,596 )

PROVISIONS FOR LIABILITIES 22 (993,154 ) (1,100,420 )
NET ASSETS 25,599,847 24,076,337

CAPITAL AND RESERVES
Called up share capital 23 100,000 100,000
Retained earnings 24 25,499,847 23,976,337
SHAREHOLDERS' FUNDS 25,599,847 24,076,337

Company's profit for the financial year 2,003,510 2,852,986

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2024 and were signed on its behalf by:



D B Coppard - Director


COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 July 2021 100,000 21,363,351 21,463,351

Changes in equity
Dividends - (240,000 ) (240,000 )
Total comprehensive income - 2,784,826 2,784,826
Balance at 30 June 2022 100,000 23,908,177 24,008,177

Changes in equity
Dividends - (480,000 ) (480,000 )
Total comprehensive income - 2,180,262 2,180,262
Balance at 30 June 2023 100,000 25,608,439 25,708,439

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 July 2021 100,000 21,363,351 21,463,351

Changes in equity
Dividends - (240,000 ) (240,000 )
Total comprehensive income - 2,852,986 2,852,986
Balance at 30 June 2022 100,000 23,976,337 24,076,337

Changes in equity
Dividends - (480,000 ) (480,000 )
Total comprehensive income - 2,003,510 2,003,510
Balance at 30 June 2023 100,000 25,499,847 25,599,847

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023

30.6.23 30.6.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 6,008,308 4,805,997
Interest paid (118,077 ) (5,959 )
Tax paid (453,061 ) (342,832 )
Net cash from operating activities 5,437,170 4,457,206

Cash flows from investing activities
Purchase of intangible fixed assets (206,474 ) (3,509,646 )
Purchase of tangible fixed assets (4,259,818 ) (7,620,341 )
Sale of tangible fixed assets 1,005,595 982,319
Interest received 19,554 1,116
Net cash from investing activities (3,441,143 ) (10,146,552 )

Cash flows from financing activities
New loans in year - 3,000,000
Loan repayments in year (552,302 ) (47,416 )
Equity dividends paid (240,000 ) (240,000 )
Net cash from financing activities (792,302 ) 2,712,584

Increase/(decrease) in cash and cash equivalents 1,203,725 (2,976,762 )
Cash and cash equivalents at beginning of
year

2

2,274,331

5,251,093

Cash and cash equivalents at end of year 2 3,478,056 2,274,331

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
30.6.23 30.6.22
£    £   
Profit before taxation 2,518,401 3,702,151
Depreciation charges 4,555,019 3,022,992
Profit on disposal of fixed assets (436,652 ) (665,993 )
Finance costs 118,077 5,959
Finance income (19,554 ) (1,116 )
6,735,291 6,063,993
Decrease/(increase) in stocks 63,466 (1,594,350 )
(Increase)/decrease in trade and other debtors (938,118 ) 121,450
Increase in trade and other creditors 147,669 214,904
Cash generated from operations 6,008,308 4,805,997

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 3,478,056 2,274,331
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 2,274,331 5,251,093


COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023


3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank and in hand 2,274,331 1,203,725 3,478,056
2,274,331 1,203,725 3,478,056
Debt
Debts falling due within 1 year (647,988 ) (22,391 ) (670,379 )
Debts falling due after 1 year (2,304,596 ) 574,693 (1,729,903 )
(2,952,584 ) 552,302 (2,400,282 )
Total (678,253 ) 1,756,027 1,077,774

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Coppard Plant Hire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Plant hire income is recorded in the period in which the plant is physically hired out and plant sales are recorded on the date the item of plant is sold.

Rental income is recorded in the period in which the rent is due.

In respect of property developments, turnover is recognised once legal completion has been achieved.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2020 and 2023, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 2% on cost
Long leasehold - 33% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance and 25% on cost
Office equipment - 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Land is not depreciated.

Investment property
Investment Property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of comprehensive income.

Investment property is property held to earn rentals and capital appreciation which is not occupied by the company. Any aggregate surplus or deficit arising from changes in market value is transferred to the profit and loss reserve.

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value. Net realisable value is based on the estimated selling price less any estimated completion or selling costs, after making due allowance for obsolete and slow moving items.

Work in progress which relates to property development is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the statement of comprehensive income in the period to which they relate.

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classified as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains and losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

30.6.23 30.6.22
£    £   
Plant hire and sales etc. 27,361,219 23,076,828
Property developments 540,000 -
27,901,219 23,076,828

An analysis of turnover by geographical market is given below:

30.6.23 30.6.22
£    £   
United Kingdom 27,760,064 22,789,592
Europe 141,155 287,236
27,901,219 23,076,828

4. EMPLOYEES AND DIRECTORS
30.6.23 30.6.22
£    £   
Wages and salaries 4,161,378 3,375,992
Social security costs 437,629 358,107
Other pension costs 293,981 301,698
4,892,988 4,035,797

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.6.23 30.6.22

Direct staff 73 58
Administrative staff 32 28
Management staff 6 6
111 92

30.6.23 30.6.22
£    £   
Directors' remuneration 94,432 51,946

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 4

Directors pension costs totalled £204,666 (2022: £228,523).

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.6.23 30.6.22
£    £   
Hire of plant and machinery 163,060 113,200
Depreciation - owned assets 4,046,437 5,684,247
Profit on disposal of fixed assets (436,652 ) (665,993 )
Goodwill amortisation 508,582 10,000

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. AUDITORS' REMUNERATION
30.6.23 30.6.22
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

9,500

9,500
Total audit fees 9,500 9,500

Taxation compliance services 1,000 1,000
Other non- audit services 22,560 5,270
Total non-audit fees 23,560 6,270
Total fees payable 33,060 15,770

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.23 30.6.22
£    £   
Bank loan interest 118,077 5,959

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.23 30.6.22
£    £   
Current tax:
UK corporation tax 478,721 458,402

Deferred tax (140,582 ) 458,923
Tax on profit 338,139 917,325

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.23 30.6.22
£    £   
Profit before tax 2,518,401 3,702,151
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2022 - 19 %)

629,600

703,409

Effects of:
Utilisation of tax losses (596 ) -
Capital allowances in excess of depreciation and net of deferred tax movement
(185,664

)

213,916
Effect of marginal rate of corporation tax (105,201 ) -
Total tax charge 338,139 917,325

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
30.6.23 30.6.22
£    £   
B Ordinary shares of £1 each
Interim 480,000 240,000

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 July 2022 2,479,361
Additions 206,474
At 30 June 2023 2,685,835
AMORTISATION
At 1 July 2022 123,755
Amortisation for year 508,582
At 30 June 2023 632,337
NET BOOK VALUE
At 30 June 2023 2,053,498
At 30 June 2022 2,355,606

Company
Goodwill
£   
COST
At 1 July 2022 147,088
Additions 50,000
At 30 June 2023 197,088
AMORTISATION
At 1 July 2022 123,755
Amortisation for year 10,833
At 30 June 2023 134,588
NET BOOK VALUE
At 30 June 2023 62,500
At 30 June 2022 23,333

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


12. TANGIBLE FIXED ASSETS

Group
Freehold Short Long
property leasehold leasehold
£    £    £   
COST
At 1 July 2022 4,555,984 125,937 4,350
Additions - 105,422 -
Disposals - - -
At 30 June 2023 4,555,984 231,359 4,350
DEPRECIATION
At 1 July 2022 177,359 9,777 4,350
Charge for year 11,184 2,675 -
Eliminated on disposal - - -
At 30 June 2023 188,543 12,452 4,350
NET BOOK VALUE
At 30 June 2023 4,367,441 218,907 -
At 30 June 2022 4,378,625 116,160 -

Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 39,083,934 1,033,890 239,257 45,043,352
Additions 4,103,626 15,500 35,270 4,259,818
Disposals (1,573,105 ) (1,031 ) - (1,574,136 )
At 30 June 2023 41,614,455 1,048,359 274,527 47,729,034
DEPRECIATION
At 1 July 2022 23,157,634 765,367 165,824 24,280,311
Charge for year 3,951,217 63,227 18,134 4,046,437
Eliminated on disposal (1,004,255 ) (938 ) - (1,005,193 )
At 30 June 2023 26,104,596 827,656 183,958 27,321,555
NET BOOK VALUE
At 30 June 2023 15,509,859 220,703 90,569 20,407,479
At 30 June 2022 15,926,300 268,523 73,433 20,763,041

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


12. TANGIBLE FIXED ASSETS - continued

Company
Freehold Short Long
property leasehold leasehold
£    £    £   
COST
At 1 July 2022 4,555,984 125,937 4,350
Additions - 105,422 -
Disposals - - -
At 30 June 2023 4,555,984 231,359 4,350
DEPRECIATION
At 1 July 2022 177,359 9,777 4,350
Charge for year 11,184 2,675 -
Eliminated on disposal - - -
At 30 June 2023 188,543 12,452 4,350
NET BOOK VALUE
At 30 June 2023 4,367,441 218,907 -
At 30 June 2022 4,378,625 116,160 -

Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 35,555,655 793,352 187,937 41,223,215
Additions 7,103,626 15,500 35,270 7,259,818
Disposals (1,573,105 ) (1,031 ) - (1,574,136 )
At 30 June 2023 41,086,176 807,821 223,207 46,908,897
DEPRECIATION
At 1 July 2022 20,719,013 553,267 114,504 21,578,270
Charge for year 3,951,217 63,227 18,134 4,046,437
Eliminated on disposal (1,004,255 ) (938 ) - (1,005,193 )
At 30 June 2023 23,665,975 615,556 132,638 24,619,514
NET BOOK VALUE
At 30 June 2023 17,420,201 192,265 90,569 22,289,383
At 30 June 2022 14,836,642 240,085 73,433 19,644,945

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2022 3,793,242
Additions 156,474
Impairments (3,949,114 )
At 30 June 2023 602
NET BOOK VALUE
At 30 June 2023 602
At 30 June 2022 3,793,242


The valuation of the shares held was impaired by £3,949,114 as a result of the retained reserves of the subsidiary being distributed during the year.

14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 289,000
NET BOOK VALUE
At 30 June 2023 289,000
At 30 June 2022 289,000

Company
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 289,000
NET BOOK VALUE
At 30 June 2023 289,000
At 30 June 2022 289,000

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


14. INVESTMENT PROPERTY - continued

Company

The investment property was revalued in February 2017 by D B Coppard, a director, on the basis of open market value for existing use (cost £197,135).

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2015 18,115
Valuation in 2016 27,865
Valuation in 2017 45,885
Cost 197,135
289,000

15. STOCKS

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Stocks 2,044,787 1,693,562 2,044,787 1,693,562
Work-in-progress 21,277 435,968 21,277 435,968
2,066,064 2,129,530 2,066,064 2,129,530

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Trade debtors 3,065,371 2,764,576 3,065,371 2,697,112
Other debtors 30,366 43,577 30,366 32,410
Prepayments 884,119 233,585 884,119 233,585
3,979,856 3,041,738 3,979,856 2,963,107

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Bank loans and overdrafts (see note 19) 670,379 647,988 670,379 647,988
Trade creditors 2,020,378 2,081,589 2,020,378 2,080,319
Amounts owed to group undertakings - - 100 160,000
Tax 244,742 219,082 244,742 219,082
Social security and other taxes 531,831 375,224 531,831 339,537
Other creditors 20,684 21,852 20,684 21,586
Directors' current accounts 240,375 375 240,375 375
Accruals and deferred income 114,068 60,627 114,068 53,236
3,842,457 3,406,737 3,842,557 3,522,123

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Bank loans (see note 19) 1,729,903 2,304,596 1,729,903 2,304,596

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 670,379 647,988 670,379 647,988
Amounts falling due between one and two years:
Bank loans - 1-2 years 670,379 647,988 670,379 647,988
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,059,524 1,656,608 1,059,524 1,656,608

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


20. SECURED DEBTS

The following secured debts are included within creditors:

Group
30.6.23 30.6.22
£    £   
Bank loans 2,400,282 2,952,584

The bank loan is secured by fixed charge over the following properties owned by the company as well as a fixed and floating charge on all assets:
Yellow Hammers, Bletchingly Road, Godstone, RH9 8NB
Ivy Mill Lane, Godstone, Surrey, RH9 8NE

21. FINANCIAL INSTRUMENTS

The company has basic financial debt instruments which are all measured at cost. These include trade debtors, other debtors, cash and bank in hand and trade creditors.

22. PROVISIONS FOR LIABILITIES

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Deferred tax
Accelerated capital allowances 970,188 1,077,454 970,188 1,077,454
Deferred tax on revaluation of investment
property

22,966

56,282

22,966

22,966
993,154 1,133,736 993,154 1,100,420

Group
Deferred
tax
£   
Balance at 1 July 2022 1,133,736
Credit to Income Statement during year (140,582 )
Balance at 30 June 2023 993,154

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


22. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 1 July 2022 1,100,420
Credit to Statement of Comprehensive Income during year (107,266 )
Balance at 30 June 2023 993,154

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
51,004 A Ordinary £1 51,004 51,004
48,996 B Ordinary £1 48,996 48,996
100,000 100,000

24. RESERVES

Group
Retained
earnings
£   

At 1 July 2022 23,908,177
Profit for the year 2,180,262
Dividends (480,000 )
At 30 June 2023 25,608,439

Company
Retained
earnings
£   

At 1 July 2022 23,976,337
Profit for the year 2,003,510
Dividends (480,000 )
At 30 June 2023 25,499,847

The retained earnings are the cumulative profit and loss net of distributions to owners, plus £91,865 (2022: £91,865) of non-distributable revaluation gains.

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


25. PENSION COMMITMENTS

The company makes contributions to a defined contribution pension scheme. During the year contributions of £293,981 (2022: £301,698) were paid. The costs of these contributions are charged to the statement of comprehensive income on an accruals basis as the become payable under the scheme.

26. ULTIMATE PARENT COMPANY

Coppard Plant Hire Limited is regarded by the directors as being the company's ultimate parent company.

The registered office where the financial statements may be obtained is Wraysbury, Crowborough Hill, Crowborough, East Sussex, TN6 2JE.

Coppard Plant Hire Ltd holds 100% of the voting shares in Thomas Holdings (Winnersh) Limited, Winnersh Plant Hire Limited and George Sands And Company Limited.

All of the subsidiaries registered office where the financial statements may be obtained is Wraysbury, Crowborough Hill, Crowborough, East Sussex, TN6 2JE.

The principal place of business of the parent and all subsidiaries is Wraysbury, Crowborough Hill, Crowborough, East Sussex, TN6 2JE.

27. RELATED PARTY DISCLOSURES

INDIVIDUALS THAT HAVE SIGNIFICANT CONTROL:
During the year, the company paid rent amounting to £105,960 (2022: £105,960) to the directors and their spouses in respect of sites used in the company's business.

At the year end, the company owed £40,000 to B E Coppard, A L Coppard, J T Coppard, K F Coppard, L T Etherington and Q Coppard, directors.

OTHER RELATED PARTIES:
The company sold goods amounting to £71,738 (2022: £54,997) on normal commercial terms to Proform Concrete Ltd, an entity in which A L Coppard, a director, has a significant interest.

At the year end, the company was owed £20,000 (2022: £20,000) from Proform Concrete Ltd, an entity in which A L Coppard, a director, has a significant interest.

The company paid £54,003 (2022: £56,662) for services on normal commercial terms to Alpine Designs And Adventures Ltd, an entity in which L T Etherington, a director, has a significant interest.

The company's key management personnel are considered to be the directors.

The controlling party is D B Coppard, a director.

COPPARD PLANT HIRE LIMITED (REGISTERED NUMBER: 01056494)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


28. GENERAL INFORMATION

Coppard Plant Hire Ltd is a company limited by shares, incorporated and domiciled in England and Wales and has it's registered office and principal place of business at Wraysbury, Crowborough Hill, Crowborough, East Sussex, TN6 2JE.

The principal activities of the company are the sale and hire of plant and machinery.