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Registered number: 06232009









TW DEAN GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
TW DEAN GROUP LIMITED
REGISTERED NUMBER: 06232009

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,000
3,000

Tangible assets
 5 
23,468
19,907

Investments
 6 
362,389
2,031,795

Investment property
 7 
1,178,810
1,178,810

  
1,567,667
3,233,512

Current assets
  

Stock and work in progress
 8 
125,650
373,602

Debtors: amounts falling due within one year
 9 
205,884
1,126,563

Cash at bank and in hand
 10 
2,799,601
59,374

  
3,131,135
1,559,539

Creditors: amounts falling due within one year
 11 
(1,910,973)
(2,020,841)

Net current assets/(liabilities)
  
 
 
1,220,162
 
 
(461,302)

Total assets less current liabilities
  
2,787,829
2,772,210

Provisions for liabilities
  

Warranty provisions
  
(7,800)
(7,800)

  
 
 
(7,800)
 
 
(7,800)

Net assets
  
2,780,029
2,764,410


Capital and reserves
  

Called up share capital 
 13 
200
200

Profit and loss account
  
2,779,829
2,764,210

  
2,780,029
2,764,410


Page 1

 
TW DEAN GROUP LIMITED
REGISTERED NUMBER: 06232009
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T W Dean Esq
Director

Date: 18 February 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

TW Dean Group Limited is a private company limited by shares, incorporated in England and Wales. The registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA.
The company's principal activity includes that of a holding company, property development and the sale of equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company 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 company has transferred the significant risks and rewards of ownership to the buyer;
the company 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 company 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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

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.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company 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 Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Taxation

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 balance sheet date in the countries where the company operates and generates income.


Page 4

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the revaluation model, intangible assets are carried at a revalued amount, being fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent impairment losses - provided that the fair value can be determined by reference to an active market.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the balance sheet date.

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.

 
2.9

Tangible fixed assets

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:


Plant and machinery
-
25%
Straight line method
Motor vehicles
-
25%
Straight line method
Office equipment
-
25%
Straight line method

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.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.12

Stocks and work in progress

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 balance sheet 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.

 
2.13

Debtors

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.

 
2.14

Cash and cash equivalents

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.

 
2.15

Creditors

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.

 
2.16

Provisions for liabilities

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.

Page 6

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.17

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Intangible assets




Development expenditure

£



Cost


At 1 September 2023
3,000



At 31 August 2024

3,000






Net book value



At 31 August 2024
3,000



At 31 August 2023
3,000



Page 7

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2023
484
45,070
2,082
47,636


Additions
9,675
11,440
4,557
25,672


Disposals
-
(11,440)
-
(11,440)



At 31 August 2024

10,159
45,070
6,639
61,868



Depreciation


At 1 September 2023
191
26,715
823
27,729


Charge for the year on owned assets
823
9,886
915
11,624


Disposals
-
(953)
-
(953)



At 31 August 2024

1,014
35,648
1,738
38,400



Net book value



At 31 August 2024
9,145
9,422
4,901
23,468



At 31 August 2023
293
18,355
1,259
19,907

Page 8

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Fixed asset investments





Participating interests

£



Cost or valuation


At 1 September 2023
2,031,795


Disposals
(1,669,406)



At 31 August 2024
362,389





Participating interests


The investment in participating interests represents the company's capital contribution to T W Dean Enterprises LLP. 


7.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
1,178,810



At 31 August 2024
1,178,810

The 2024 valuations were made by the director, on an open market value for existing use basis.




8.


Stocks

2024
2023
£
£

Raw materials, consumables, and finished goods
125,650
135,683

Work in progress
-
237,919

125,650
373,602


Page 9

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Debtors

2024
2023
£
£


Trade debtors
72,847
189,851

Amounts owed by participating interest
102,653
916,443

Other debtors
14,943
2,313

Prepayments and accrued income
15,441
17,956

205,884
1,126,563



10.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,799,601
59,374

2,799,601
59,374



11.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
75,466
50,843

Amounts owed to group undertakings
1,000
1,000

Corporation tax
6,705
52,039

Other taxation and social security
-
5,446

Other creditors
1,770,152
1,895,377

Accruals and deferred income
57,650
16,136

1,910,973
2,020,841


Page 10

 
TW DEAN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


Provisions





Other provision

£





At 1 September 2023
7,800



At 31 August 2024
7,800


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.0 each
200
200



14.


Related party transactions

Included within other creditors due within one year are loans totalling £1,756,971 (2023: £1,889,049) owed to the director. Interest has been charged on these loans at a rate of 1.75% (2023: Nil). These loans are repayable upon demand.

 
Page 11