Registered number
01261412
Brisco Williams & Sons Limited
Unaudited Filleted Accounts
30 September 2024
Brisco Williams & Sons Limited
Registered number: 01261412
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,776,437 1,749,085
Investments 5 3,010,500 3,010,500
4,786,937 4,759,585
Current assets
Debtors 6 1,150,007 957,700
Cash at bank and in hand 111,216 339,998
1,261,223 1,297,698
Creditors: amounts falling due within one year 7 (204,272) (207,880)
Net current assets 1,056,951 1,089,818
Total assets less current liabilities 5,843,888 5,849,403
Creditors: amounts falling due after more than one year 8 (83,466) (82,372)
Provisions for liabilities (458,316) (460,676)
Accruals and deferred income - -
Net assets 5,302,106 5,306,355
Capital and reserves
Called up share capital 50,000 50,000
Revaluation reserve 10 2,664,781 2,664,781
Profit and loss account 2,587,325 2,591,574
Shareholders' funds 5,302,106 5,306,355
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R M O'Kelly
Director
Approved by the board on 25 June 2025
Brisco Williams & Sons Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.

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:
Plant and machinery over 1 to 5 years
Fixtures, fittings, tools and equipment 25% on the reducing value of the asset
Investment property
Investment property is property held either to earn rental income or for capital appreciation or both, but not for sale in the ordinary course of business, use in the production or supply of goods or services or for administrative purposes. Investment property is initially measured at cost and subsequently at fair value with any change recognised in the profit and loss account. Deferred tax is provided on gains arising on revaluations at the rate expected to apply when the property is sold.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 8
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 1,635,000 270,190 194,594 2,099,784
Additions - 1,337 65,196 66,533
At 30 September 2024 1,635,000 271,527 259,790 2,166,317
Depreciation
At 1 October 2023 - 239,297 111,402 350,699
Charge for the year - 9,811 29,370 39,181
At 30 September 2024 - 249,108 140,772 389,880
Net book value
At 30 September 2024 1,635,000 22,419 119,018 1,776,437
At 30 September 2023 1,635,000 30,893 83,192 1,749,085
Freehold land and buildings: 2024 2023
£ £
Historical cost 587,819 587,819
Cumulative depreciation based on historical cost - -
587,819 587,819
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 500 3,010,000 3,010,500
At 30 September 2024 500 3,010,000 3,010,500
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 150,633 48,952
Amounts owed by group undertakings and undertakings in which the company has a participating interest 961,603 882,202
Other debtors 37,771 26,546
1,150,007 957,700
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans - secured 20,374 20,374
Obligations under finance lease and hire purchase contracts 45,625 28,122
Trade creditors 10,466 28,593
Taxation and social security costs 19,227 19,030
Other creditors 108,580 111,761
204,272 207,880
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - secured 15,273 35,648
Obligations under finance lease and hire purchase contracts 68,193 46,724
83,466 82,372
9 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 35,647 56,022
The bank facilities are secured by:-

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.
10 Fair value reserve 2024 2023
£ £
At 1 October 2023 2,664,781 1,853,008
Gain on revaluation of land and buildings - 1,072,181
Deferred taxation arising on the revaluation of land and buildings - (260,408)
At 30 September 2024 2,664,781 2,664,781
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
During the year ended 30 September 2024 the company sold £320,469 (2023 - £285,420) of goods and services to group undertakings.
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
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