Company No: 09120283 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	A Gay
	R J Gay

REGISTERED OFFICE	2nd Floor
	South One Castle Park
	Tower Hill
	Bristol
	BS2 0JA
	United Kingdom

COMPANY NUMBER

09120283 (England and Wales)

ACCOUNTANT	Gravita Western Limited
	2nd Floor, South
	One Castle Park
	Tower Hill
	Bristol
	BS2 0JA
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	41,448		58,513
		41,448		58,513
Current assets
Stocks		94,612		95,450
Debtors	4	47,576		28,124
Cash at bank and in hand		25,741		19,681
		167,929		143,255
Creditors: amounts falling due within one year	5	( 122,476)		( 48,628)
Net current assets		45,453		94,627
Total assets less current liabilities		86,901		153,140
Creditors: amounts falling due after more than one year	6	( 78,467)		( 86,467)
Provision for liabilities		( 7,875)		( 14,628)
Net assets		559		52,045
Capital and reserves
Called-up share capital		100		100
Profit and loss account		459		51,945
Total shareholders' funds		559		52,045

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 Profit and Loss Account has not been delivered.

The financial statements of Chi Homes Limited (registered number: 09120283) were approved and authorised for issue by the Board of Directors on 26 June 2026. They were signed on its behalf by:

A Gay 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

Chi 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 2nd Floor, South One Castle Park, Tower Hill, Bristol, BS2 0JA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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.

Turnover

Turnover represents the sales of developed properties and associated income, excluding value added tax.

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 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 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:

Plant and machinery	4 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	4 years straight line
Office 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Work in progress

Work in progress is valued at the lower of cost and net realisable value and consists of all direct costs and project management expenses associated with the projects held in work in progress at the year end.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 October 2024	21,657		82,607		4,215		7,976		116,455
Additions	0		0		0		96		96
At 30 September 2025	21,657		82,607		4,215		8,072		116,551
Accumulated depreciation
At 01 October 2024	14,032		32,574		4,183		7,153		57,942
Charge for the financial year	4,125		12,508		32		496		17,161
At 30 September 2025	18,157		45,082		4,215		7,649		75,103
Net book value
At 30 September 2025	3,500		37,525		0		423		41,448
At 30 September 2024	7,625		50,033		32		823		58,513

4. Debtors

	2025		2024
	£		£
Trade debtors	37,933		14,810
Amounts owed by directors	0		5,816
Prepayments	4,643		2,481
Other debtors	5,000		5,017
	47,576		28,124

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	3,798		3,924
Trade creditors	16,973		23,854
Amounts owed to directors	48,698		0
Other loans	2,677		4,060
Accruals	1,750		1,700
Taxation and social security	14,808		6,176
Obligations under finance leases and hire purchase contracts (secured)	6,002		5,827
Other creditors	27,770		3,087
	122,476		48,628

The bank loans are secured by a fixed and floating charge over the company's freehold property. The finance leases are secured on the assets concerned.

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

	2025		2024
	£		£
Bank loans (secured)	14,514		18,312
Obligations under finance leases and hire purchase contracts (secured)	30,875		36,877
Other creditors	33,078		31,278
	78,467		86,467

7. Related party transactions

During the year, the company charged £nil (2024: £nil) to the Robert Gay and Allison Gay Partnership in respect of project management services provided. The services were carried out on an arm’s length, commercial basis. At the year-end, £nil (2024: £8,002) was due to the company from the partnership

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A Gay

	2025		2024
	£		£
Balance outstanding at start of year	2,908		16,260
Amounts advanced	23,115		2,206
Amounts repaid	(36,874)		(15,558)
Amounts written off - - Amounts waived	0		0
	(10,851)		2,908

R J Gay

	2025		2024
	£		£
Balance outstanding at start of year	2,908		16,260
Amounts advanced	23,116		2,206
Amounts repaid	(36,874)		(15,558)
Amounts written off - - Amounts waived	0		0
	(10,850)		2,908