| Registered number |
| Registered number: | |||||||
| Balance Sheet | |||||||
| as at |
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| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Fixed assets | |||||||
| Tangible assets | 4 | ||||||
| Investments | 5 | ||||||
| Current assets | |||||||
| Debtors | 6 | ||||||
| Cash at bank and in hand | |||||||
| Creditors: amounts falling due within one year | 7 | ( |
( |
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| Net current assets | |||||||
| Total assets less current liabilities | |||||||
| Creditors: amounts falling due after more than one year | 8 | ( |
( |
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| Provisions for liabilities | ( |
( |
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| Accruals and deferred income | - | - | |||||
| Net assets | |||||||
| Capital and reserves | |||||||
| Called up share capital | |||||||
| Revaluation reserve | 10 | ||||||
| Profit and loss account | |||||||
| Shareholders' funds | |||||||
| R M O'Kelly | |||||||
| Director | |||||||
| Approved by the board on |
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| Notes to the Accounts | ||||||||
| for the year ended |
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| 1 | Accounting policies | |||||||
| Basis of preparation | ||||||||
| Consolidation | ||||||||
| The company and its subsidiaries comprise a small sized group. The company has taken advantage of the exemption provided in Sections 398 and 399 of the Companies Act 2006 not to prepare group financial statements and accordingly these financial statements present information about the company as a single entity. | ||||||||
| Turnover | ||||||||
| Tangible fixed assets | ||||||||
Depreciation is not charged on freehold land and freehold buildings are not depreciated as they are maintained to such a standard that their estimated residual value is not less than their cost. As a result depreciation is not material. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
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| Plant and machinery | over 1 to 5 years | |||||||
| Fixtures, fittings, tools and equipment | 25% on the reducing value of the asset | |||||||
| Investment property | ||||||||
| Stocks | ||||||||
| Debtors | ||||||||
| Creditors | ||||||||
| Taxation | ||||||||
| Leased assets | ||||||||
| Pensions | ||||||||
| 2 | Determination of fair value | |||||||
| The company's investment and own use properties have been valued by the directors who have considerable experience in the acquisition and management of properties. In arriving at the valuations the directors have obtained guidance from local firms of valuers with experience in valuing commercial properties and farmland. The fair values are based on market values, being the estimated amount for which a property could be exchanged on the date of the valuation between a willing buyer and a willing seller in an arm's length transaction after proper marketing wherein the parties had each acted knowledgeably. In the absence of current prices in an active market, the valuations are prepared by considering the estimated rental value of the property. A market yield is applied to the estimated rental value to arrive at the gross property valuation. When actual rents differ materially from the estimated rental value, adjustments are made to reflect actual returns. Valuations reflect, when appropriate, the type of the tenants actually in occupation or responsible for meeting lease commitments or likely to be in occupation after letting vacant accommodation, the allocation of maintenance and insurance obligations between the company and the lessee, and the remaining economic life of the property. When rent reviews or lease renewals are pending with anticipated reversionary increases, it is assumed that all notices, and when appropriate, counter-notices, have been served validly and within the appropriate time. |
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| 3 | Employees | 2024 | 2023 | |||||
| Number | Number | |||||||
| Average number of persons employed by the company | ||||||||
| 4 | Tangible fixed assets | |||||||
| Land and buildings | Plant and machinery etc | Motor vehicles | Total | |||||
| £ | £ | £ | £ | |||||
| Cost | ||||||||
| At 1 October 2023 | ||||||||
| Additions | - | |||||||
| At 30 September 2024 | ||||||||
| Depreciation | ||||||||
| At 1 October 2023 | - | |||||||
| Charge for the year | - | |||||||
| At 30 September 2024 | - | |||||||
| Net book value | ||||||||
| At 30 September 2024 | ||||||||
| At 30 September 2023 | ||||||||
| Freehold land and buildings: | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Historical cost | 587,819 | 587,819 | ||||||
| Cumulative depreciation based on historical cost | - | - | ||||||
| Plant and machinery with a carrying value of £2,166 (2023 - £6,499) and motor vehicles with a carrying value of £119,014 (2023 - £82,609) are held under hire purchase agreements. | ||||||||
| 5 | Investments | |||||||
| Investments in | ||||||||
| subsidiary | Other | |||||||
| undertakings | investments | Total | ||||||
| £ | £ | £ | ||||||
| Cost | ||||||||
| At 1 October 2023 | ||||||||
| At 30 September 2024 | ||||||||
| Historical cost | ||||||||
| At 1 October 2023 | 500 | 947,216 | ||||||
| At 30 September 2024 | 500 | 947,216 | ||||||
| Investment properties comprise a number of commercial properties that are leased to third parties and group undertakings. Each of the leases to third parties contain an initial non-cancellable period with periodic rent reviews. Subsequent renewals are negotiated with the lessee. Group undertakings occupy the properties on tenancies at will. | ||||||||
| The company holds 100% of the share capital of the following companies: | ||||||||
| Capital and | Profit (loss) | |||||||
| Company | Shares held | reserves | for the year | |||||
| Class | £ | £ | ||||||
| Swansea Commercial Body Builders Limited | Ordinary | (37,263) | (18,364) | |||||
| Brisco Truck Rental Limited | Ordinary | (977,950) | - | |||||
| Brisco Waste Disposal Limited | Ordinary | (13,029) | (54,795) | |||||
| Brisco Hire Services Limited | Ordinary | 2,713 | - | |||||
| Brisco Williams (Gas) Limited | Ordinary | 57,710 | 21,952 | |||||
| 6 | Debtors | 2024 | 2023 | |||||
| £ | £ | |||||||
| Trade debtors | ||||||||
| Amounts owed by group undertakings and undertakings in which the company has a participating interest | ||||||||
| Other debtors | ||||||||
| 7 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
| £ | £ | |||||||
| Bank loans - secured | ||||||||
| Obligations under finance lease and hire purchase contracts | ||||||||
| Trade creditors | ||||||||
| Taxation and social security costs | ||||||||
| Other creditors | ||||||||
| 8 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
| £ | £ | |||||||
| Bank loans - secured | ||||||||
| Obligations under finance lease and hire purchase contracts | ||||||||
| 9 | Loans | 2024 | 2023 | |||||
| £ | £ | |||||||
| Creditors include: | ||||||||
| Secured bank loans | 35,647 | 56,022 | ||||||
A first charge over all book and other debts and a first floating charge over all the assets, goodwill, undertaking and uncalled capital both present and future. An unlimited multilateral guarantee given by the holding company Brisco Williams & Sons Limited and all the group subsidiaries securing all liabilities of each other. A composite joint and several guarantee. |
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| 10 | Fair value reserve | 2024 | 2023 | |||||
| £ | £ | |||||||
| At 1 October 2023 | ||||||||
| Gain on revaluation of land and buildings | - | |||||||
| Deferred taxation arising on the revaluation of land and buildings | - | ( |
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| At 30 September 2024 | ||||||||
| 11 | Pension commitments | |||||||
| The company operates a defined contribution pension scheme on behalf of certain employees. The assets of the scheme are held separately from those of the company in an independently administered fund. | ||||||||
| 12 | Related party transactions | |||||||
| The company provided management services to group underakings amounting to £125,700 (2023 - £126,950). | ||||||||
| The company rented property to group undertakings at annual rents amounting to £49,860 (2023 - £49,860). | ||||||||
| During the year ended 30 September 2024 the company purchased £2,879 (2023 - £2,755) of goods and services from group undertakings. | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| At the year end the amount due to group undertakings was | - | (786) | ||||||
| At the year end the amount due from group undertakings was | 1,114,287 | 918,991 | ||||||
| 13 | Other information | |||||||
| Brisco Williams & Sons Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | ||||||||
| Gorseinon Road | ||||||||
| Gorseinon | ||||||||
| Swansea | ||||||||
| SA4 9GG | ||||||||