Company No: 01400789 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	G Dedman
	H Hewitt-Dedman

Secretary

R Dedman

Registered office	Old House Manor Estate Cowfold Road
	Coolham
	Horsham
	RH13 8QL
	United Kingdom

Company number

01400789 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	RH12 2RG

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dedman Properties Limited for the financial year ended 30 November 2025 which comprise the Balance Sheet and the related notes 1 to 13 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Dedman Properties Limited, as a body, in accordance with the terms of our engagement letter dated 17 August 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Dedman Properties Limited and state those matters that we have agreed to state to the Board of Directors of Dedman Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dedman Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dedman Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dedman Properties Limited. You consider that Dedman Properties Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Dedman Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kreston Reeves LLP

Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG

17 August 2026

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	33,670		38,781
Investment property	4	13,997,914		13,861,614
		14,031,584		13,900,395
Current assets
Debtors	5	6,713,052		6,388,207
Cash at bank and in hand		345,756		335,576
		7,058,808		6,723,783
Creditors: amounts falling due within one year	6	( 1,749,041)		( 603,262)
Net current assets		5,309,767		6,120,521
Total assets less current liabilities		19,341,351		20,020,916
Creditors: amounts falling due after more than one year	7, 13	0		( 1,235,067)
Provision for liabilities	8	( 679,169)		( 660,819)
Net assets		18,662,182		18,125,030
Capital and reserves
Called-up share capital	9	100		100
Revaluation reserve		4,232,198		4,115,182
Profit and loss account		14,429,884		14,009,748
Total shareholders' funds		18,662,182		18,125,030

For the financial year ending 30 November 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 Comprehensive Income has not been delivered.

The financial statements of Dedman Properties Limited (registered number: 01400789) were approved and authorised for issue by the Board of Directors on 14 August 2026. They were signed on its behalf by:

H Hewitt-Dedman 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

Dedman Properties 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 Old House Manor Estate, Cowfold Road, Coolham, Horsham, RH13 8QL, 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 principal activity of the company in the year under review was that of property investment and letting.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents net rental income from properties due in the year, excluding value added tax.

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 Comprehensive Income 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 Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income 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 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	10 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	3 - 5 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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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.

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.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		7

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 December 2024	84,662		28,854		11,680		125,196
At 30 November 2025	84,662		28,854		11,680		125,196
Accumulated depreciation
At 01 December 2024	51,993		23,210		11,212		86,415
Charge for the financial year	3,267		1,411		433		5,111
At 30 November 2025	55,260		24,621		11,645		91,526
Net book value
At 30 November 2025	29,402		4,233		35		33,670
At 30 November 2024	32,669		5,644		468		38,781

4. Investment property

	Investment property
	£
Valuation
As at 01 December 2024	13,861,614
Fair value movement	136,300
As at 30 November 2025	13,997,914

Split between Freehold and Leasehold property

The net book value of land and buildings may be further analysed as follows:

	2025		2024
	£		£
Freehold	11,249,877		11,140,785
Long leasehold	2,748,037		2,720,829
	13,997,914		13,861,614

The 2025 valuations were made by the Directors, on an open market value for existing use basis.

5. Debtors

	2025		2024
	£		£
Amounts owed by connected companies	5,412,236		5,763,476
Prepayments and accrued income	134,916		136,317
Other debtors	1,165,900		488,414
	6,713,052		6,388,207

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	1,347,600		279,733
Trade creditors	44,918		7,566
Accruals	30,371		37,698
Corporation tax	313,323		205,219
Other taxation and social security	8,249		54,585
Other creditors	4,580		18,461
	1,749,041		603,262

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

	2025		2024
	£		£
Bank loans (secured)	0		1,235,067

Secured loans

The bank loan is secured by way of a first legal fixed charge over various investment properties owned by the Company.

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 660,819)		( 653,062)
Charged to the Profit and Loss Account	( 18,350)		( 7,757)
At the end of financial year	( 679,169)		( 660,819)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 7,439)		( 8,655)
Revaluation of investment property	( 673,973)		( 654,689)
Other timing differences	2,243		2,525
	( 679,169)		( 660,819)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2,000 Ordinary shares of £ 0.05 each	100		100

10. Related party transactions

At the year end, a balance of £580,430 (2024: £307,420) was owed by the Director to the Company.

At the year end, a balance of £291,081 (2024: £57,750) was owed by the Director's wife to the Company.

At the year end, a balance of £nil (2024: £9,652) was owed to the 1997 Dedman Settlement Trust, of which the Director and his wife are both Trustees.

Also at the year end, a balance of £nil (2024: £826) was owed to the 2017 Dedman Settlement Trust by the Company.

The balance due from Dedman Lettings Ltd, a company in which a Director of Dedman Properties Limited is also a Director, at the year end was £5,412,236 (2024: £5,763,476), within "Amounts owed by related companies"

Property management fees net of VAT totalling £111,772 (2024 : £108,524) were payable by Dedman Properties Limited to Dedman Lettings Ltd in respect of the year ending 30 November 2025.

11. Pension commitments

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 £1,649 (2024: £1,246). Contributions totalling £138 (2024: £149) were payable to the fund at the balance sheet date.

12. Reserves

Investment property revaluation reserve

The Company uses the revaluation model for the measurement of its investment properties. This reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.

Profit & loss account

The profit and loss account comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholder. This is a distributable reserve.

13. Loans

Bank loans

	2025		2024
	£		£
Amounts falling due within one year	1,347,600		279,733
Amounts falling due 1-2 year	0		1,235,067
	1,347,600		1,514,800