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AUTOGRAPH HOMES LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Comprehensive income for the year
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Redemption of preference shares
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Comprehensive income for the year
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The notes on pages 8 to 22 form part of these financial statements.
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Page 7
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Autograph Homes Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. It's registered office is located at Unit 3 The Stables, Says Court Farm Badminton Road, Frampton Cotterell, Bristol, England, BS36 2NY.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The directors have reviewed the business plans, cash flow forecasts and profit and loss forecasts of Autograph Homes Limited and its subsidiaries for a period of not less than twelve months from the date of approval of these financial statements.
At 30 November 2025, the Group had net assets of £1,301,267. The Company had net liabilities of £862,850, principally reflecting amounts owed to group undertakings and loan note financing.
The directors have considered the Group’s and Company’s expected future trading performance, the timing of realisation of development stock, forecast cash flows, committed and available funding facilities, and the continued support of shareholders, directors, lenders and group undertakings where applicable. The directors acknowledge that the Company’s net liability position gives rise to a reliance on the successful delivery of forecast trading, the realisation of development assets, and the continued availability of financial support.
Based on these forecasts and the support available, the directors have a reasonable expectation that the Group and the Company will have adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Page 8
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Group has transferred the significant risks and rewards of ownership to the buyer;
∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Group will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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OPERATING LEASES: THE GROUP AS LESSEE
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Page 9
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
DEFINED CONTRIBUTION PENSION PLAN
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.
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CURRENT AND DEFERRED TAXATION
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Page 10
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
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TANGIBLE FIXED ASSETS (CONTINUED)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight-line and reducing balance method. .
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Work in progress is stated at the lower of cost and net realisable value. Land held for development and the costs of development are initially recognised at transactions cost. The company allocates site-wide development costs between units on a site by site basis. These costs are carried at transactional cost until turnover in respect of the unit is recognised.
At each reporting date, work in progress is assessed for impairment. If it is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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CASH AND CASH EQUIVALENTS
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 11
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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PROVISIONS FOR LIABILITIES
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
Page 12
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY
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Carrying value of work in progress
Work in progress is carried at the lower of cost and net realisable value. A full review of net realisable value of work in progress was undertaken at year end. Reasonable foreseeable changes in the assumptions used would not have a significant impact on the net realisable value.
Recognition of deferred tax asset
The recognition of the deferred tax asset requires judgement by the directors in assessing the availability of future taxable profits. In making this assessment, the directors have considered future forecasts, including expected profits from plot sales, and concluded that it is probable that the deferred tax asset will be recovered.
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The average monthly number of employees, including directors, during the year was 7 (2024: 7).
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Charge for the year on owned assets
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All of the Group's intangible fixed assets are held in the Parent company.
Page 13
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Charge for the year on owned assets
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Page 14
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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Autograph Homes (Hambrook) Limited
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Autograph Homes (Rode) Limited
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Autograph Homes (Meare) Limited
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Autograph Homes (Totterdown) Limited
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Goolden Street (Totterdown) Limited
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Totterdown (Bathwell) Development Limited
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Autograph Homes (Midland Road) Limited
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Autograph Homes (Dudbridge) Limited
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Autograph Homes (Stanton) Limited
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Autograph (Midland Road) Limited
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Autograph Homes (Bridge Farm) Limited
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Autograph Homes (Scots Lawn) Limited
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Autograph Homes (Rangeworthy) Limited*
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Autograph Homes (Tickenham) Limited
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* Dormant
The Directors of Autograph Homes (Dudbridge), Goolden Street (Totterdown) Limited and Totterdown (Bathwell) Development Limited approved the strike off the subsidiary companies on the 26 March 2026. Autograph Homes (Dudbridge) was dissolved on the 26 May 2026, Goolden Street (Totterdown) Limited and Totterdown (Bathwell) Development Limited were dissolved on the 7 July 2026.
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Page 15
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Work in progress (goods to be sold)
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No impairment loss was recognised in the cost of sales against work in progress during the year.
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
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CASH AND CASH EQUIVALENTS
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Page 16
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
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Page 17
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
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Loan notes
Loan notes of £2,000,000 were issued on 4 November 2025 and are repayable by 30 June 2027. The loan notes accrue interest at a rate of 10% per annum.
Loan notes of £500,000 are due to a third party. The loan notes accrue interest at a rate of 10% per annum.
Bank loans
An amount of £2,776,666 of the bank loans included within other loans is secured by a first legal mortgage and debenture over the company’s development property at Scots Lawn, Brent Road, East Brent, Highbridge, TA9 4DB. The facility bears interest at 8% per annum and is repayable on the earlier of the contractual maturity date, the sale of the property, or the sale of the final unit. The facility is also supported by a corporate guarantee from Autograph Homes Limited.
A further £930,984 of bank loans relates to a secured development loan facility. The loan is secured by charges over the development property, the company’s assets and shares, together with a parent company guarantee. Interest is charged at 8.5% per annum, and the facility is repayable in accordance with the terms of the loan agreement.
The remaining balance relates to bounce back loans obtained on 1 October 2020 to mitigate the impact of Covid-19 on the business. The loans are repayable over a 10-year period. No repayments were due during the first 12 months, with repayments commencing in the 13th month. Interest is charged at 2.5% per annum on the outstanding capital balance.
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Page 18
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Analysis of the maturity of loans is given below:
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AMOUNTS FALLING DUE WITHIN ONE YEAR
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AMOUNTS FALLING DUE 1-2 YEARS
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AMOUNTS FALLING DUE 2-5 YEARS
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Charged to profit or loss
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Page 19
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
14.DEFERRED TAXATION (CONTINUED)
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Charged to profit or loss
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Tax losses carried forward
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The deferred tax asset has been recognised on the basis that the directors consider it probable that future taxable profits, arising principally from expected plot sales, will be available to utilise the asset.
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Page 20
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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SHARES CLASSIFIED AS EQUITY
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ALLOTTED, CALLED UP AND FULLY PAID
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12,700 (2024: 12,700) Ordinary A shares of £0.01 each
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800 (2024: 800) Ordinary B shares of £0.10 each
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1 (2024: 1) Ordinary share of £1.00
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Ordinary A shares entitle shareholders to one vote at a general meeting per share. These shares are entitled to 80% of the total voting rights.
Ordinary B shares entitle shareholders to one vote at a general meeting per share. These shares are entitled to 20% of the total voting rights.
On 31 July 2024, 1,000,000 preference shares of £1.00 each were redeemed.
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Other reserves
Includes the difference between the nominal value and fair value of loans received on off market terms as part of a shareholder transaction, this is transferred to the profit and loss account once repaid.
Profit and loss account
Includes all recognised residual profits and losses less any dividend paid or declared before the year end.
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £86,416 (2024: £31,063). Contributions totaling £7,672 (2024: £4,340) were payable to the fund at the reporting date.
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POST BALANCE SHEET EVENTS
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The Directors of Autograph Homes (Dudbridge), Goolden Street (Totterdown) Limited and Totterdown (Bathwell) Development Limited approved the strike off of the subsidiary companies on the 26 March 2026. Autograph Homes (Dudbridge) was dissolved on the 26 May 2026, Goolden Street (Totterdown) Limited and Totterdown (Bathwell) Development Limited were dissolved on the 7 July 2026.
Page 21
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AUTOGRAPH HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
The Company has no controlling shareholders.
Page 22
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