Brissco Limited 10514683 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Holding company Digita Accounts Production Advanced 6.30.9574.0 true false true 10514683 2024-01-01 2024-12-31 10514683 2024-12-31 10514683 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-12-31 10514683 bus:OrdinaryShareClass2 bus:CumulativeShares 2024-12-31 10514683 core:CurrentFinancialInstruments 2024-12-31 10514683 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10514683 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10514683 bus:SmallEntities 2024-01-01 2024-12-31 10514683 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10514683 bus:FilletedAccounts 2024-01-01 2024-12-31 10514683 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10514683 bus:RegisteredOffice 2024-01-01 2024-12-31 10514683 bus:Director1 2024-01-01 2024-12-31 10514683 bus:Director2 2024-01-01 2024-12-31 10514683 bus:Director3 2024-01-01 2024-12-31 10514683 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-01-01 2024-12-31 10514683 bus:OrdinaryShareClass2 bus:CumulativeShares 2024-01-01 2024-12-31 10514683 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10514683 countries:EnglandWales 2024-01-01 2024-12-31 10514683 core:CostValuation 2023-12-31 10514683 2023-01-01 2023-12-31 10514683 2023-12-31 10514683 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-12-31 10514683 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-12-31 10514683 core:CurrentFinancialInstruments 2023-12-31 10514683 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10514683 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10514683

Brissco Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Brissco Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Brissco Limited

Company Information

Directors

Mandy Freake

Kevin Mark Bartlett

Christopher Nicholas Holmes

Registered office

Brissco Limited
Block 9 25 Cater Road
Bishopsworth
Bristol
BS13 7TX

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Brissco Limited

(Registration number: 10514683)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

         

Fixed assets

   

Investments

4

 

690,791

690,791

Current assets

   

Debtors

5

17,370

 

11,171

Cash at bank and in hand

 

106,120

 

59,546

 

123,490

 

70,717

Creditors: Amounts falling due within one year

6

(668,787)

 

(531,910)

Net current liabilities

   

(545,297)

(461,193)

Total assets less current liabilities

   

145,494

229,598

Creditors: Amounts falling due after more than one year

6

 

(82,949)

(187,569)

Net assets

   

62,545

42,029

Capital and reserves

   

Called up share capital

7

550

 

550

Capital redemption reserve

450

 

450

Retained earnings

61,545

 

41,029

Shareholders' funds

   

62,545

42,029

 

Brissco Limited

(Registration number: 10514683)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 June 2025 and signed on its behalf by:
 

.........................................
Mandy Freake
Director

.........................................
Kevin Mark Bartlett
Director

.........................................
Christopher Nicholas Holmes
Director

     
 

Brissco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Brissco Limited
Block 9 25 Cater Road
Bishopsworth
Bristol
BS13 7TX

These financial statements were authorised for issue by the Board on 17 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have reviewed the going concern status of the business for the foreseeable future to the best of their abilities and have concluded that they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Brissco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost, less any subsequent accumulated impairment losses.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Brissco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investments

2024
£

2023
£

Investments in subsidiaries

690,791

690,791

Subsidiaries

£

Cost or valuation

At 1 January 2024

690,791

Provision

Carrying amount

At 31 December 2024

690,791

At 31 December 2023

690,791

The company owns 83% of the issued equity share capital of Brissco (Equipment) Limited, a company registered in England and Wales with registration number 00455916.

Brissco (Equipment) Limited's principal activity is that of the sale and manufacture of signs, labels and vehicle livery, sale of building plastics, plastic materials and the fabrication of sheet plastic.

The carrying value is comprised of the cost of the investment of £1,627,880 (which includes £55,791 of legal and professional fees) less dividends received from the subsidiary during the
year to 31 December 2018 of £937,089, which were paid out of pre-acquisition reserves and have accordingly been deducted from the cost of the investment.

At 31 December 2024, Brissco (Equipment) Limited had net assets of £1,784,137 (2023: £1,636,353) and in the year then ended earned a profit after tax of £246,784 (2023: £210,563).

5

Debtors

Current

2024
£

2023
£

Trade debtors

7,200

7,200

Prepayments

1,670

3,971

Other debtors

8,500

-

 

17,370

11,171

 

Brissco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

104,620

98,174

Taxation and social security

 

6,646

3,630

Accruals and deferred income

 

1,200

1,600

Other creditors

 

556,321

428,506

 

668,787

531,910

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

82,949

187,569

The bank loans totalling £187,569 (2023: £285,744) are secured by a fixed and floating charge over the company's assets, and through a mortgage over the freehold property owned by the subsidiary undertaking, Brissco (Equipment) Limited.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.10 each

4,500

450

4,500

450

A Ordinary of £0.10 each

1,000

100

1,000

100

5,500

550

5,500

550

 

Brissco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Related party transactions

During the year to 31 December 2024 the company received dividends from Brissco (Equipment) Limited, the company's subsidiary undertaking, totalling £99,000 (2023: £72,850).

The company also received increased loan funding from Brissco (Equipment) Limited during the year totalling £113,592 (2023: £113,556), and at 31 December 2024 the balance owed by the company to Brissco (Equipment) Limited was £527,918 (2023: £414,326). The loan is unsecured, does not carry any interest, and is repayable on demand.

During the year the company charged Brissco (Equipment) Limited for management services totalling £44,500 (2023: £36,000). At 31 December 2024 the company was owed a total of £7,200 (2023: £7,200) by Brissco (Equipment) Limited which is included in trade debtors. At 31 December 2024 the company charged £8,500 (2023: £3,000) for management services due which are included in other debtors.

At 31 December 2024, the company owed £14,542 (2023: £7,830) to Mrs M Freake and £13,861 (2023: £6,350) to Mr K M Bartlett.

The ultimate controlling party is Mrs M Freake by virtue of her controlling interest in the issued equity share capital.