@Rodge
Yes, the ratchet failed, because when I got back in the car the handbrake lever was fully released as if it had not been set.
A lady out walking her dog said that she heard a loud bang, so it must have released some time after I had parked the car and gone into my house.
Also, there is not a huge gradient on my drive so the handbrake must have released spontaneously for the car to gather enough momentum to knock over my neighbours wall - as opposed to gradually releasing and creeping down the hill.
@Gabbo
This also happened to my wife a week previously when she was with the kids. She had to yank the handbrake to stop the car rolling when my 11 y/o was getting out of the car. At that time she assumed that she must have set the handbrake incorrectly instead of the handbrake actually being faulty. So I would advise you to be careful when you park your car on a hill as you may have the same issue and who knows how it might manifest itself.
Thanks for the feedback!