Company No: 09614321 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	28,542		35,307
Investment property	5	9,845,000		9,790,000
		9,873,542		9,825,307
Current assets
Debtors	6	1,588,238		1,595,537
Cash at bank and in hand		32,684		157,489
		1,620,922		1,753,026
Creditors: amounts falling due within one year	7	( 3,821,147)		( 3,740,261)
Net current liabilities		(2,200,225)		(1,987,235)
Total assets less current liabilities		7,673,317		7,838,072
Creditors: amounts falling due after more than one year	8	( 4,289,052)		( 4,275,469)
Provision for liabilities	9	( 748,128)		( 791,947)
Net assets		2,636,137		2,770,656
Capital and reserves
Called-up share capital	10	4		4
Profit and loss account	12	2,636,133		2,770,652
Total shareholders' funds		2,636,137		2,770,656

For the financial year ending 30 September 2025 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Brilliant Homes Limited (registered number: 09614321) were approved and authorised for issue by the Board of Directors on 21 April 2026. They were signed on its behalf by:

Steven Newton 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

Brilliant Homes 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 is Brownings Orchard, The Street, Upper Farringdon, GU34 3DT, 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £2,200,225, but net assets of £2,636,137. The Company is supported through loans from the director and external financing. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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.

Prior year adjustment

Where material adjustments are identified which impact the prior year figures, those figures are restated to aid comparability.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties 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:

Leasehold improvements	20 % reducing balance
Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Computer equipment	4 years straight line

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.

Leases

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior year adjustment

A loan has been reclassed from due in more than one year to being due within one year, to better reflect the nature of the agreement

		As previously reported		Adjustment		As restated
Year ended 30 September 2024		£		£		£
Creditors: amounts falling due within one year		(18,314)		(3,721,947)		(3,740,261)
Creditors: amounts falling due after more than one year		(7,997,416)		3,721,947		(4,275,469)

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 October 2024	108,341		1,004		21,087		3,622		134,054
Additions	0		0		0		669		669
At 30 September 2025	108,341		1,004		21,087		4,291		134,723
Accumulated depreciation
At 01 October 2024	77,672		902		17,547		2,626		98,747
Charge for the financial year	6,134		25		885		390		7,434
At 30 September 2025	83,806		927		18,432		3,016		106,181
Net book value
At 30 September 2025	24,535		77		2,655		1,275		28,542
At 30 September 2024	30,669		102		3,540		996		35,307

5. Investment property

	Investment property
	£
Valuation
As at 01 October 2024	9,790,000
Fair value movement	55,000
As at 30 September 2025	9,845,000

Valuation

At each reporting date, investment property is measured at fair value, with changes in fair value recognised in profit or loss. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

6. Debtors

	2025		2024
	£		£
Amounts owed by connected companies	1,588,238		1,593,893
Prepayments	0		1,644
	1,588,238		1,595,537

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	3,795,872		3,732,356
Accruals and deferred income	21,614		5,038
Other taxation and social security	3,661		2,867
	3,821,147		3,740,261

The bank loans are secured over the investment properties held by the company.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	4,289,052		4,275,469

The bank loans are secured over the investment properties held by the company.

9. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 791,947)		( 824,598)
Credited to the Statement of Income and Retained Earnings	43,819		32,651
At the end of financial year	( 748,128)		( 791,947)

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2
1 Ordinary A share of £ 1.00	1		1
1 Ordinary B share of £ 1.00	1		1
	4		4

11. Related party transactions

Other related party transactions

	2025		2024
	£		£
Amounts owed by connected companies	1,588,238		1,593,893

During the year, the company provided funding to a connected company. No interest is charged on this loan and there are no set repayment terms.

12. Profit and loss account

Within the profit and loss account are non-distributable reserves relating to fair value gains of the investment property, less associated deferred tax, of £2,985,008. There are no distributable reserves.