Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investment property | 4 |
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| 6,050,922 | 5,891,752 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 563,561 | 589,960 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 167,533 | 235,450 | ||
| Total assets less current liabilities | 6,218,455 | 6,127,202 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Provision for liabilities | 8 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Capital redemption reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of G.Dean & Company (Sandown) Limited (registered number:
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Mr R Phelps
Director |
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.
G.Dean & Company (Sandown) 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 Unit B1 Whitecross Business, Centre Whitecross Lane, Shanklin Isle Of Wight, PO37 7EJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified 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 financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Rental income is recognised over the period of occupation.
Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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.
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.
There is no adjustment applied for depreciation of freehold property as the property is maintained in good condition and the residual value is so high that any depreciation charge would be immaterial.
| Land and buildings | not depreciated |
| Plant and machinery |
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| Vehicles |
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| Computer equipment |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Non-financial assets
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
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.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings |
Plant and machinery | Vehicles | Computer equipment | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 January 2025 |
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| Additions |
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| At 31 December 2025 |
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| Accumulated depreciation | |||||||||
| At 01 January 2025 |
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| Charge for the financial year |
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| Disposals |
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| At 31 December 2025 |
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| Net book value | |||||||||
| At 31 December 2025 | 398,262 | 381,690 | 26,216 | 2,580 | 808,748 | ||||
| At 31 December 2024 | 398,892 | 227,680 | 34,955 | 3,225 | 664,752 |
| Investment property | |
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| Valuation | |
| As at 01 January 2025 |
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| Additions | 15,174 |
| As at 31 December 2025 |
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The fair value of the investment properties has been arrived at on the basis of a valuation by the directors on 31 December 2025, based on their knowledge of the properties and documented trends in the local property market.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Historic cost | 1,072,340 | 1,062,099 |
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans (secured) |
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| Trade creditors |
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| Corporation tax |
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| Other taxation and social security |
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| Other creditors |
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Bank loans of £6,620 (2024: £35,042) falling due within one year are secured over assets of the company.
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans (secured) |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans (repayable by instalments) |
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| £ | £ | ||
| Deferred tax |
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| Other provisions |
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Included within other provisions is a dilapidation provision of £30,000 (2024: £30,000) required in respect of properties owned by the entity.
Commitments
| 2025 | 2024 | ||
| £ | £ | ||
| Total future minimum lease payments under non-cancellable operating leases |
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Transactions with the entity's directors
Advances
During the year, a further Director maintained a Director's Loan Account with the company. Advances of £58,625 (2024: £16,511) and repayments of £67,188 (2024: £12,802) were made on this loan. Interest is charged on the loan, when overdrawn, at the HMRC effective rate of interest, if exceeding a balance of £10,000. The interest charged during the year was £89 (2024: £nil). At the balance sheet date, the company owed the Director £7,349 (2024: the company was owed £1,125). The loan is repayable on demand.