Company No: 09735057 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.12.2024		31.12.2023
		£		£
Fixed assets
Tangible assets	3	439,320		439,754
Investment property	4	910,070		735,443
Investments	5	1,399,627		805,255
		2,749,017		1,980,452
Current assets
Debtors
- due within one year	6	10,533,891		6,236,041
- due after more than one year	6	51,007		49,464
Cash at bank and in hand		11,381		77,072
		10,596,279		6,362,577
Creditors: amounts falling due within one year	7	( 11,377,617)		( 5,972,403)
Net current (liabilities)/assets		(781,338)		390,174
Total assets less current liabilities		1,967,679		2,370,626
Net assets		1,967,679		2,370,626
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		1,967,579		2,370,526
Total shareholder's funds		1,967,679		2,370,626

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Brechin Investments Limited (registered number: 09735057) were approved and authorised for issue by the Director on 08 October 2025. They were signed on its behalf by:

T R Hardick Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Brechin Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and principal place of business is 56 The Square, Chagford, TQ13 8AE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Turnover from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	31.12.2024		31.12.2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	5		3

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	451,229		299		25,125		15,881		492,534
Additions	0		9,999		0		5,586		15,585
Disposals	0		0		0		( 1,623)		( 1,623)
At 31 December 2024	451,229		10,298		25,125		19,844		506,496
Accumulated depreciation
At 01 January 2024	38,415		236		5,234		8,895		52,780
Charge for the financial year	6,898		1,286		4,973		2,368		15,525
Disposals	0		0		0		( 1,129)		( 1,129)
At 31 December 2024	45,313		1,522		10,207		10,134		67,176
Net book value
At 31 December 2024	405,916		8,776		14,918		9,710		439,320
At 31 December 2023	412,814		63		19,891		6,986		439,754

Land and buildings represents freehold land and buildings. The land element of Land and buildings is not depreciated.

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	735,443
Additions	174,627
As at 31 December 2024	910,070

The investment properties were valued on 31 December 2024 by the director who is internal to the company. The basis of this valuation was open market value.

There has been no valuation of investment property by an independent valuer.

There is no material change in value from original purchase price.

5. Fixed asset investments

Investments in subsidiaries

	31.12.2024
	£
Cost
At 01 January 2024	805,255
Additions	554,372
At 31 December 2024	1,359,627
Carrying value at 31 December 2024	1,359,627
Carrying value at 31 December 2023	805,255

Details of undertakings

The company holds the entire called up share capital of Irregular Cornwall Limited (company number: 09741377), Irregular Contracts Limited (company number: 10757208), 85% of the called up share capital of Ross Park Homes Limited (company number: 12985593), and 80% of the called up share capital of Roseneath Penryn Limited (company number: 10533829). During the year the company acquired an additional 50% shareholding in the called up share capital of Rosecliston Park Limited (company number: 12633052) taking its total ownership to 100% (2023: 50%) as well as acquiring the entire share capital of Brechin Investments No.1 Limited (company number: 12986065) (2023 0%). The relevant address is the company's registered office as disclosed in Note 1.

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	0		0
Additions	40,000		40,000
At 31 December 2024	40,000		40,000
Carrying value at 31 December 2024	40,000		40,000
Carrying value at 31 December 2023	0		0

6. Debtors

	31.12.2024		31.12.2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	0		20,199
Amounts owed by Group undertakings	9,061,273		5,842,736
Prepayments and accrued income	86,102		71,682
VAT recoverable	31,933		25,029
Corporation tax	0		4,798
Other debtors	1,354,583		271,597
	10,533,891		6,236,041
Debtors: amounts falling due after more than one year
Other debtors	51,007		49,464

7. Creditors: amounts falling due within one year

	31.12.2024		31.12.2023
	£		£
Bank loans and overdrafts	6,289,531		0
Trade creditors	10,762		36,809
Accruals	38,164		17,231
Taxation and social security	10,175		10,160
Other creditors	5,028,985		5,908,203
	11,377,617		5,972,403

8. Called-up share capital

	31.12.2024		31.12.2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Commitments

	31.12.2024		31.12.2023
	£		£
Total future minimum lease payments under non-cancellable operating lease	52,267		0

10. Related party transactions

Throughout the current year, a loan existed between the spouse of the director and Brechin Investments Limited. No interest was charged on the loan and the balance is repayable on demand. At the balance sheet date, the amount due to the director's spouse was £5,672,456 (2023: £5,429,737).

During the current year, a loan existed between Ross Park Homes Limited and Brechin Investments Limited. The balance is repayable on demand and interest of £157,111 (2023: £160,721) was paid to Brechin Investments Limited. At the balance sheet date, the amount due to Brechin Investments Limited was £3,847,201 (2023: £3,797,644).

During the current year, a loan existed between Roseneath Penryn Limited and Brechin Investments Limited. The balance is repayable on demand and no interest was charged during the year. At the balance sheet date, the amount due to Brechin Investments Limited was £168,650 (2023: £167,150).

During the current year, a loan existed between Irregular Contracts Limited and Brechin Investments Limited. The balance is repayable on demand and no interest was charged during the year. At the balance sheet date, the amount due to Brechin Investments Limited was £16,953 (2023: £16,953).

During the current year, a loan existed between Irregular Cornwall Limited and Brechin Investments Limited. The balance is repayable on demand and no interest was charged during the year. At the balance sheet date, the amount due by Brechin Investments Limited was £633,309 (2023: £461,374).

During the current year, a loan existed between Rosecliston Park Limited and Brechin Investments Limited. The balance is repayable on demand and interest of £101,286 (2023: £Nil) was paid to Brechin Investments Limited. At the balance sheet date, the amount due to Brechin Investments Limited was £2,885,636 (2023: £1,829,065).

During the current year, a loan existed between Ocean Cove Limited and Brechin Investments Limited, a company under control of the spouse of the director. The balance is repayable on demand and no interest was charged during the year. At the balance sheet date, the amount due to Brechin Investments Limited was £151,130 (2023: £11,023).

During the current year, a loan existed between Salcombe Park Limited and Brechin Investments Limited, a company under control of the spouse of the director. The balance is repayable on demand and no interest was charged during the year. At the balance sheet date, the amount due to Brechin Investments Limited was £886,751 (2023: £70,441).

During the current year, a loan existed between Brechin Investments No.1 Limited and Brechin Investments Limited. The balance is repayable on demand and no interest was charged during the year. At the balance sheet date, the amount due to Brechin Investments Limited was £2,100,910 (2023: £Nil).