Goulds (Dorchester) Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Consolidated Profit and Loss Account	7
Consolidated Statement of Comprehensive Income	8
Consolidated Balance Sheet	9—10
Company Balance Sheet	11—12
Consolidated Statement of Changes in Equity	13
Company Statement of Changes in Equity	14
Consolidated Statement of Cash Flows	15
Notes to the Consolidated Statement of Cash Flows	16
Company Statement of Cash Flows	17
Notes to the Company Statement of Cash Flows	18
Notes to the Financial Statements	19—33

The directors present their strategic report for the year ended 31 January 2026.

Review of the Business

The Directors are extremely pleased to report an increased trading profit for the period, after facing huge cost increases, most significantly Employment costs and Business rates.

The Directors continued to closely monitor cashflow and budgeting systems. The Directors are focussed on cost control and on ways to increase both sales volumes and margins.

Regular dialogue has been maintained with NatWest Bank and they have continued to be extremely supportive.

2026 will continue to be challenging but the Directors continue to monitor the finances very closely and have put in place a robust budget for the next 12 months. Consequently the Directors remain cautiously optimistic about the future for the business.

The Retail environment continues to be challenging.

The ongoing challenge is to make sufficient profits to provide a return to all stakeholders and also reinvest in the business.

Principal Risks and Uncertainties

The Company borrowed additional funds to trade through the issues caused by Covid. The repayment of these loans is a continued drain on cashflow.

The retail sector continues to face significant uncertainties and challenges.

The continued increases in the Statutory wage rates and the changes to Employers National Insurance in 2025, created significant pressures on labour costs. The Directors are having to manage these increased costs carefully, whilst trying to maintain the highest possible levels of customer service.

However with the support of all stakeholders, the Directors are continuing to proceed with cautious optimism.

On behalf of the board

Mr Anthony Gould

Director

7 May 2026

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Goulds (Dorchester) Limited

Company No. 00405869

Directors' Report For The Year Ended 31 January 2026

Directors' Report

The directors present their report and the financial statements for the year ended 31 January 2026.

Principal Activity

The principal activity of the company in the period under review was that of the operation of department stores in Dorchester and Sidmouth and a garden centre in Weymouth.

Dividends

The value of dividends paid during the period amounted to £16,144 .

The directors recommend paying a final dividend of £24,291 .

Directors

The directors who held office during the year were as follows:

Mr Anthony Gould

Mr Christopher Gould

Mr Alan Rodgers

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

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Goulds (Dorchester) Limited

Directors' Report (continued)

For The Year Ended 31 January 2026

Independent Auditors

The auditors, Scott Vevers Ltd, 65 East Street, Bridport, Dorset DT6 3LB, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Christopher Gould

Director

7 May 2026

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Independent Auditor's Report

to the Members of

Goulds (Dorchester) Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Goulds (Dorchester) Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 January 2026 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 January 2026 and of the group's profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Goulds (Dorchester) Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirements to prepare a strategic report

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing the company's correspondence with relevant regulators including the Health and Safety Executive, and the company's legal advisors.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

Goulds (Dorchester) Limited

Marcus Cridland BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Scott Vevers Ltd, 65 East Street, Bridport, Dorset DT6 3LB , Statutory Auditor

7 May 2026

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Goulds (Dorchester) Limited

Consolidated Profit and Loss Account

For The Year Ended 31 January 2026

Consolidated Profit and Loss Account

		2026	2025
	Notes	£	£
TURNOVER	4	11,521,975	11,068,034
Cost of sales		(6,737,403 )	(6,444,287 )

GROSS PROFIT		4,784,572	4,623,747

Administrative expenses		(4,347,375 )	(4,336,084 )
Other operating income		79,918	82,887

OPERATING PROFIT	6	517,115	370,550
Profit on disposal of fixed assets		5,500	2,379
Other interest receivable and similar income	11	4,797	-
Interest payable and similar charges	12	(327,401 )	(279,167 )

PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		200,011	93,762

The notes on pages 16 to 33 form part of these financial statements.

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Goulds (Dorchester) Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 January 2026

Consolidated Statement of Comprehensive Income

	2026	2025
	£	£
PROFIT FOR THE FINANCIAL YEAR	200,011	93,762
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT	200,011	93,762

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Goulds (Dorchester) Limited

Consolidated Balance Sheet

As At 31 January 2026

Consolidated Balance Sheet

Registered number: 00405869

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	14		657,707		657,707
Tangible Assets	15		11,372,718		11,420,159
Investments	16		1,000		1,000

			12,031,425		12,078,866
CURRENT ASSETS
Stocks	17	1,742,293		1,509,541
Debtors	18	128,872		155,240
Cash at bank and in hand		596,903		654,922

		2,468,068		2,319,703
Creditors: Amounts Falling Due Within One Year	19	(1,532,099 )		(1,635,878 )

NET CURRENT ASSETS (LIABILITIES)			935,969		683,825

TOTAL ASSETS LESS CURRENT LIABILITIES			12,967,394		12,762,691

Creditors: Amounts Falling Due After More Than One Year	20		(4,688,615 )		(4,667,779 )

PROVISIONS FOR LIABILITIES
Provisions For Charges	24		(47,755 )		(47,755 )
Deferred Taxation	23		(355,957 )		(355,957 )

NET ASSETS			7,875,067		7,691,200

CAPITAL AND RESERVES
Called up share capital	25		134,950		134,950
Share premium account			58,997		58,997
Revaluation reserve	28		4,880,611		4,880,611
Capital redemption reserve			80,246		80,246
Profit and Loss Account			2,720,263		2,536,396

SHAREHOLDERS' FUNDS			7,875,067		7,691,200

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Goulds (Dorchester) Limited

Consolidated Balance Sheet (continued)

As At 31 January 2026

On behalf of the board

Mr Anthony Gould

Director

7 May 2026

The notes on pages 16 to 33 form part of these financial statements.

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Goulds (Dorchester) Limited

Company Balance Sheet

As At 31 January 2026

Company Balance Sheet

Registered number: 00405869

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	15		9,470,784		9,518,225
Investments	16		2,250,493		2,250,493

			11,721,277		11,768,718
CURRENT ASSETS
Stocks	17	1,742,293		1,509,541
Debtors	18	128,872		155,240
Cash at bank and in hand		596,893		654,912

		2,468,058		2,319,693
Creditors: Amounts Falling Due Within One Year	19	(1,504,810 )		(1,608,589 )

NET CURRENT ASSETS (LIABILITIES)			963,248		711,104

TOTAL ASSETS LESS CURRENT LIABILITIES			12,684,525		12,479,822

Creditors: Amounts Falling Due After More Than One Year	20		(6,132,473 )		(6,111,637 )

PROVISIONS FOR LIABILITIES
Provisions For Charges	24		(47,755 )		(47,755 )
Deferred Taxation	23		(355,957 )		(355,957 )

NET ASSETS			6,148,340		5,964,473

CAPITAL AND RESERVES
Called up share capital	25		134,950		134,950
Share premium account			58,997		58,997
Revaluation reserve	28		4,870,735		4,870,735
Capital redemption reserve			80,246		80,246
Profit and Loss Account			1,003,412		819,545

SHAREHOLDERS' FUNDS			6,148,340		5,964,473

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Goulds (Dorchester) Limited

Company Balance Sheet (continued)

As At 31 January 2026

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 200,011 (2025: £ 93,762 profit).

On behalf of the board

Mr Anthony Gould

Director

7 May 2026

The notes on pages 16 to 33 form part of these financial statements.

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Goulds (Dorchester) Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 January 2026

Consolidated Statement of Changes in Equity

	Share Capital	Share Premium	Revaluation reserve	Capital Redemption
	£	£	£	£
As at 28 January 2024	134,950	58,997	4,880,611	80,246
Profit for the year and total comprehensive income	-	-	-	-

Dividends paid	-	-	-	-

As at 25 January 2025 and 26 January 2025	134,950	58,997	4,880,611	80,246


Profit for the year and total comprehensive income	-	-	-	-

Dividends paid	-	-	-	-

As at 31 January 2026	134,950	58,997	4,880,611	80,246

	Profit and Loss Account	Total
	£	£
As at 28 January 2024	2,457,479	7,612,283
Profit for the year and total comprehensive income	93,762	93,762

Dividends paid	(14,845)	(14,845)

As at 25 January 2025 and 26 January 2025	2,536,396	7,691,200


Profit for the year and total comprehensive income	200,011	200,011

Dividends paid	(16,144)	(16,144)

As at 31 January 2026	2,720,263	7,875,067

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Goulds (Dorchester) Limited

Company Statement of Changes in Equity

For The Year Ended 31 January 2026

Company Statement of Changes in Equity

	Share Capital	Share Premium	Revaluation reserve	Capital Redemption
	£	£	£	£
As at 28 January 2024	134,950	58,997	4,870,735	80,246
Profit for the year and total comprehensive income	-	-	-	-

Dividends paid	-	-	-	-

As at 25 January 2025 and 26 January 2025	134,950	58,997	4,870,735	80,246


Profit for the year and total comprehensive income	-	-	-	-

Dividends paid	-	-	-	-

As at 31 January 2026	134,950	58,997	4,870,735	80,246

	Profit and Loss Account	Total
	£	£
As at 28 January 2024	740,628	5,885,556
Profit for the year and total comprehensive income	93,762	93,762

Dividends paid	(14,845)	(14,845)

As at 25 January 2025 and 26 January 2025	819,545	5,964,473


Profit for the year and total comprehensive income	200,011	200,011

Dividends paid	(16,144)	(16,144)

As at 31 January 2026	1,003,412	6,148,340

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Goulds (Dorchester) Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 January 2026

Consolidated Statement of Cash Flows

		2026	2025
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	383,395	591,840
Interest paid		(327,401 )	(279,167 )

Net cash generated from operating activities		55,994	312,673

Cash flows from investing activities
Purchase of tangible assets		(148,945 )	(180,347 )
Proceeds from disposal of tangible assets		5,500	2,379
Interest received		4,797	-

Net cash used in investing activities		(138,648 )	(177,968 )

Cash flows from financing activities
Equity dividends paid		(16,144 )	(14,845 )
Repayment of bank borrowings		(13,236 )	(178,402 )
Repayment of finance leases		54,015	17,556

Net cash generated from/(used in) financing activities		24,635	(175,691 )



Decrease in cash and cash equivalents		(58,019 )	(40,986 )
Cash and cash equivalents at beginning of year	2	654,922	695,908

Cash and cash equivalents at end of year	2	596,903	654,922

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Goulds (Dorchester) Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 January 2026

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2026	2025
	£	£
Profit for the financial year	200,011	93,762
Adjustments for:
Interest expense	327,401	279,167
Interest income	(4,797 )	-
Depreciation of tangible assets	196,386	187,951
Profit on disposal of tangible assets	(5,500)	(2,379)
Movements in working capital:
(Increase)/decrease in stocks	(232,752 )	111,260
Decrease in trade and other debtors	26,368	45,042
Decrease in trade and other creditors	(123,722 )	(122,963 )

Net cash generated from operations	383,395	591,840

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2026	2025
	£	£
Cash at bank and in hand	596,903	654,922

3. Analysis of changes in net debt

	As at 26 January 2025	Cash flows	As at 31 January 2026
	£	£	£
Cash at bank and in hand	654,922	(58,019)	596,903
Finance leases	(67,760)	(54,015)	(121,775)
Debts falling due within one year	(11,516 )	11,516	-
Debts falling due after more than one year	(4,630,324)	1,720	(4,628,604)

	(4,054,678)	(98,798)	(4,153,476)

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Goulds (Dorchester) Limited

Company Statement of Cash Flows

For The Year Ended 31 January 2026

Company Statement of Cash Flows

		2026	2025
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	383,395	591,840
Interest paid		(327,401 )	(279,167 )

Net cash generated from operating activities		55,994	312,673

Cash flows from investing activities
Purchase of tangible assets		(148,945 )	(180,347 )
Proceeds from disposal of tangible assets		5,500	2,379
Interest received		4,797	-

Net cash used in investing activities		(138,648 )	(177,968 )

Cash flows from financing activities
Equity dividends paid		(16,144 )	(14,845 )
Repayment of bank borrowings		(13,236 )	(178,402 )
Proceeds from new other loans		-	45,667
Repayment of finance leases		54,015	(28,111 )

Net cash generated from/(used in) financing activities		24,635	(175,691 )



Decrease in cash and cash equivalents		(58,019 )	(40,986 )
Cash and cash equivalents at beginning of year	2	654,912	695,898

Cash and cash equivalents at end of year	2	596,893	654,912

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Goulds (Dorchester) Limited

Notes to the Company Statement of Cash Flows

For The Year Ended 31 January 2026

Notes to the Company Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2026	2025
	£	£
Profit for the financial year	200,011	93,762
Adjustments for:
Interest expense	327,401	279,167
Interest income	(4,797 )	-
Depreciation of tangible assets	196,386	187,951
Profit on disposal of tangible assets	(5,500)	(2,379)
Movements in working capital:
(Increase)/decrease in stocks	(232,752 )	111,260
Decrease in trade and other debtors	26,368	45,042
Decrease in trade and other creditors	(123,722 )	(122,963 )

Net cash generated from operations	383,395	591,840

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2026	2025
	£	£
Cash at bank and in hand	596,893	654,912

3. Analysis of changes in net debt

	As at 26 January 2025	Cash flows	As at 31 January 2026
	£	£	£
Cash at bank and in hand	654,912	(58,019)	596,893
Finance leases	(67,760)	(54,015)	(121,775)
Debts falling due within one year	(11,516 )	11,516	-
Debts falling due after more than one year	(4,630,324)	1,720	(4,628,604)

	(4,054,688)	(98,798)	(4,153,486)

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Goulds (Dorchester) Limited

Notes to the Financial Statements

For The Year Ended 31 January 2026

Notes to the Financial Statements

1. General Information

Goulds (Dorchester) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00405869 . The registered office is 22-23 South Street, Dorchester, Dorset, DT1 1DA.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 January 2026.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

3.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

Page 19

Page 20

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

3.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

3.5. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. The value of goodwill is reviewed by the Directors annually.

3.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	In accordance with the property
Leasehold	In accordance with the property
Plant & Machinery	At varying rates on cost
Motor Vehicles	25% reducing balance
Fixtures & Fittings	At varying rates on cost

Freehold Property

Freehold property is initially recognised at cost, including all directly attributable costs of acquisition. After initial recognition, freehold property is carried at a revalued amount, being its fair value at the date of the revaluation, less any subsequent accumulated depreciation and impairment losses.

Revaluation

Revaluations are carried out regularly, such that the carrying amount does not differ materially from the fair value at the reporting date. Independent qualified valuers are typically engaged to perform the valuations.

Revaluation Surplus

Increases in the carrying amount arising from revaluation are recognized in other comprehensive income and accumulated in equity under the revaluation surplus, except to the extent that they reverse a revaluation decrease for the same asset previously recognised in profit or loss, in which case the increase is recognised in profit or loss.

Depreciation

No depreciation has been charged on revalued freehold property.

3.7. Investments

Investments are recognised at cost less any provision for impairment.

3.8. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

Page 20

Page 21

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

3.9. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

3.10. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3.11. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to set a 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss , are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

Basic financial liabilities

...CONTINUED

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Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

3.11. Financial Instruments - continued

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 originally at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

3.12. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3.13. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

Page 22

Page 23

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

3.14. Provisions and Contingencies

Provisions

Provisions are recognised when the group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the group’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

3.15. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the group is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.16. Pensions

The group operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

4. Turnover

Analysis of turnover by class of business is as follows:

	2026	2025
	£	£
Sale of goods	11,521,975	11,068,034

Analysis of turnover by geographical market is as follows:

	2026	2025
	£	£
United Kingdom	11,521,975	11,068,034

	11,521,975	11,068,034

Page 23

Page 24

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

5. Other Operating Income

	2026	2025
	£	£
Rental income	74,660	75,471
Other operating income	5,258	7,416

	79,918	82,887

6. Operating Profit

The operating profit is stated after charging:

	2026	2025
	£	£
Depreciation of tangible fixed assets	196,386	187,951

7. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2026	2025
	£	£
Audit Services
Audit of the company's financial statements	18,340	17,840

8. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Wages and salaries	3,013,372	2,954,435	3,013,372	2,954,435
Social security costs	25,040	20,488	25,040	20,488
Other pension costs	85,048	88,480	85,048	88,480

	3,123,460	3,063,403	3,123,460	3,063,403

9. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	Group		Company
	2026	2025	2026	2025
Office and administration	8	8	8	8
Sales, marketing and distribution	142	149	142	149
Other	6	7	6	7

	156	164	156	164

Page 24

Page 25

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

10. Directors' remuneration

	2026	2025
	£	£
Emoluments	180,225	166,245
Company contributions to money purchase pension schemes	26,850	26,322
Amounts paid to third parties in respect of directors' services	19,100	18,000

	226,175	210,567

The number of directors to whom retirement benefits were accruing was as follows:

	2026		2025
Money purchase pension schemes	2		2

11. Interest Receivable and Similar Income

	2026	2025
	£	£
Deposit accout interest	4,797	-

12. Interest Payable and Similar Charges

	2026	2025
	£	£
Bank loans and overdrafts	312,121	264,267
Finance charges payable under finance leases and hire purchase contracts	15,280	14,900

	327,401	279,167

13. Tax on Profit

The tax (credit)/charge on the profit for the year was as follows:

	Tax Rate		2026	2025
	2026	2025	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	-	-

The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2026	2025
	£	£
Profit before tax	200,011	93,762

Tax on profit at 25% (UK standard rate)	50,003	23,441
Tax losses utilised	(57,783 )	(21,545 )
Capital allowances	7,780	(1,896 )

Total tax charge for the period	-	-

Page 25

Page 26

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

14. Intangible Assets

Group

	Goodwill
	£
Cost
As at 26 January 2025	1,008,149

As at 31 January 2026	1,008,149

Amortisation
As at 26 January 2025	350,442

As at 31 January 2026	350,442

Net Book Value
As at 31 January 2026	657,707

As at 26 January 2025	657,707

The carrying value of the Group Goodwill is reviewed annually by the Directors.

Conseqequently no amortisation has been charged for the period.

Company

The company had no intangible fixed assets as at 31 January 2026 or 25 January 2025.

15. Tangible Assets

Group

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost or Valuation
As at 26 January 2025	10,360,000	501,934	2,732,273	7,695
Additions	-	-	130,063	-

As at 31 January 2026	10,360,000	501,934	2,862,336	7,695

Depreciation
As at 26 January 2025	-	-	2,251,748	7,695
Provided during the period	-	-	173,244	-

As at 31 January 2026	-	-	2,424,992	7,695

Net Book Value
As at 31 January 2026	10,360,000	501,934	437,344	-

As at 26 January 2025	10,360,000	501,934	480,525	-

Page 26

Page 27

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026


	Fixtures & Fittings	Total
	£	£
Cost or Valuation
As at 26 January 2025	772,758	14,374,660
Additions	18,882	148,945

As at 31 January 2026	791,640	14,523,605

Depreciation
As at 26 January 2025	695,058	2,954,501
Provided during the period	23,142	196,386

As at 31 January 2026	718,200	3,150,887

Net Book Value
As at 31 January 2026	73,440	11,372,718

As at 26 January 2025	77,700	11,420,159

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Plant & Machinery	111,221	48,211
Fixtures & Fittings	27,007	39,971

	138,228	88,182

Cost or valuation as at 31 January 2026 represented by:

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles
	£	£	£	£
At cost	6,607,827	501,934	2,862,336	7,695
At valuation	3,752,173	-	-	-

	10,360,000	501,934	2,862,336	7,695


	Fixtures & Fittings	Total
	£	£
At cost	791,640	10,771,432
At valuation	-	3,752,173

	791,640	14,523,605

Freehold land and buildings were valued in 2022 on an open market basis by Savills UK Limited (RICS).

At the end of the period, the Directors' valued them at fair value and consider the values to be unchanged.

The historic cost value of the Freehold Property was £6,607,827 (2025 £6,607,827).

Page 27

Page 28

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

Company

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost or Valuation
As at 26 January 2025	8,960,000	2,732,273	7,695	772,758	12,472,726
Additions	-	130,063	-	18,882	148,945

As at 31 January 2026	8,960,000	2,862,336	7,695	791,640	12,621,671

Depreciation
As at 26 January 2025	-	2,251,748	7,695	695,058	2,954,501
Provided during the period	-	173,244	-	23,142	196,386

As at 31 January 2026	-	2,424,992	7,695	718,200	3,150,887

Net Book Value
As at 31 January 2026	8,960,000	437,344	-	73,440	9,470,784

As at 26 January 2025	8,960,000	480,525	-	77,700	9,518,225

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Plant & Machinery	111,221	48,211
Fixtures & Fittings	27,007	39,971

	138,228	88,182

Cost or valuation as at 31 January 2026 represented by:

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
At cost	5,207,827	2,862,336	7,695	791,640	8,869,498
At valuation	3,752,173	-	-	-	3,752,173

	8,960,000	2,862,336	7,695	791,640	12,621,671

Freehold land and buildings were valued in 2022 on an open market basis by Savills UK Limited (RICS).

At the end of the period, the Directors' valued them at fair value and consider the values to be unchanged.

The historic cost value of the Freehold Property was £5,207,827 (2025 £5,207,827).

Page 28

Page 29

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

16. Investments

Group

	Unlisted
	£
Cost or Valuation
As at 26 January 2025	1,000

As at 31 January 2026	1,000

Provision
As at 26 January 2025	-

As at 31 January 2026	-

Net Book Value
As at 31 January 2026	1,000

As at 26 January 2025	1,000

Company

	Subsidiaries	Unlisted	Total
	£	£	£
Cost or Valuation
As at 26 January 2025	2,537,493	1,000	2,538,493

As at 31 January 2026	2,537,493	1,000	2,538,493

Provision
As at 26 January 2025	288,000	-	288,000

As at 31 January 2026	288,000	-	288,000

Net Book Value
As at 31 January 2026	2,249,493	1,000	2,250,493

As at 26 January 2025	2,249,493	1,000	2,250,493

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

In 2015 the Company acquired 100% of the share capital in Fields of Sidmouth (Holdings) Limited.

No further provision is being made to amortise the Goodwill element of this acquisition.

Subsidiaries

Details of the group's subsidiaries as at 31 January 2026 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Fields of Sidmouth Limited	The Market Place, Sidmouth, Devon EX10 8AR	Ordinary	-	100.00%
Fields of Sidmouth Holdings Limited	The Market Place, Sidmouth, Devon EX10 8AR	Ordinary	100.00%	-
Fields Property (Sidmouth) Limited	The Market Place, Sidmouth, Devon EX10 8AR	Ordinary	-	100.00%

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

Page 29

Page 30

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

	Capital and Reserves	Profit/(loss)
	£	£
Fields of Sidmouth Limited	1,943,101	-
Fields of Sidmouth Holdings Limited	10,074	-
Fields Property (Sidmouth) Limited	1,365,338	-

17. Stocks

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Stock	1,742,293	1,509,541	1,742,293	1,509,541

18. Debtors

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Due within one year
Trade debtors	(2,367 )	1,367	(2,367 )	1,367
Prepayments and accrued income	80,963	93,025	80,963	93,025
Other debtors	50,276	60,848	50,276	60,848

	128,872	155,240	128,872	155,240

19. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	61,764	30,305	61,764	30,305
Trade creditors	880,098	862,102	880,098	862,102
Bank loans and overdrafts	-	11,516	-	11,516
Social security and other tax	48,768	38,689	48,768	38,689
VAT	282,824	290,315	282,824	290,315
Other creditors	94,272	298,758	66,983	271,469
Pensions	13,842	13,561	13,842	13,561
Accrued expenses	150,531	90,632	150,531	90,632

	1,532,099	1,635,878	1,504,810	1,608,589

20. Creditors: Amounts Falling Due After More Than One Year

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	60,011	37,455	60,011	37,455
Bank loans	4,628,604	4,630,324	4,628,604	4,630,324

	4,688,615	4,667,779	6,132,473	6,111,637

Page 30

Page 31

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

21. Loans

An analysis of the maturity of loans is given below:

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Amounts falling due within one year or on demand:
Bank loans	-	11,516	-	11,516

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Amounts falling due between one and five years:
Bank loans	4,628,604	4,630,324	4,628,604	4,630,324

22. Obligations Under Finance Leases and Hire Purchase

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
The future minimum finance lease payments are as follows:
Not later than one year	61,764	30,305	61,764	30,305
Later than one year and not later than five years	60,011	37,455	60,011	37,455

	121,775	67,760	121,775	67,760

	121,775	67,760	121,775	67,760

23. Deferred Taxation

The provision for deferred tax is made up as follows:

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Other timing differences	355,957	355,957	355,957	355,957

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 31

Page 32

Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

24. Provisions for Liabilities

Group
	Deferred Tax	Other Provisions	Total
	£	£	£
As at 26 January 2025	355,957	47,755	403,712

Balance at 31 January 2026	355,957	47,755	403,712

Company
	Deferred Tax	Other Provisions	Total
	£	£	£
As at 26 January 2025	355,957	47,755	403,712

Balance at 31 January 2026	355,957	47,755	403,712

25. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	134,950	134,950

26. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £85,048 (2025: £88,480).

At the balance sheet date contributions of £13,842 (2025: £13,561) were due to the fund and are included in creditors.

27. Dividends

	2026	2025
	£	£
On equity shares:
Interim dividend paid	16,144	14,845

28. Reserves

Group

	Revaluation Reserve
	£
As at 26 January 2025	4,880,611

As at 31 January 2026	4,880,611

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Goulds (Dorchester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

Company

	Revaluation Reserve
	£
As at 26 January 2025	4,870,735

As at 31 January 2026	4,870,735

29. Related Party Disclosures

Entities over which the entity has control, joint control or significant influence

Goulds (Dorchester) Limited has 100% indirect control of Fields Of Sidmouth Limited.

Fields Of Sidmouth Limited was dormant during the period.

At the end of the financial year the balance due to Fields Of Sidmouth Limited was £1,443,858 (2025 £1,443,858).

Mr A Gould

Mr A Gould is a Director of Goulds (Dorchester) Limited and Choice Marketing Limited

Goulds purchased goods and services from Choice Marketing Limited amounting to £22,347 (2025 : £24,427). The balance owed to Choice Marketing Limited at the end of the period was £1,080 (2025 : £1,080)

Mr A Rodgers

Mr A Rodgers is a Director of Goulds (Dorchester) Limited and Advoco Management Limited

Goulds purchased services from Advoco Management Limited amounting to £19,100 (2025 : £18,000). The balance owed to Advoco Management Limited at the end of the period was £1,600 (2025 : £1,500).

30. Secured Liabilities

The total secured liabilities as at 31 January 2026 was £4,628,604 (2025 - £4,641,840)

The Company has a bank loan with National Westminster Bank PLC. The balance on this loan at 31 January 2026 was £3,413,775, (2025 £3,395,898.) Interest is charged at 4.63.%. The final instalment was due March 2025.

Subsequently a 18 month extension was put in place, with interest being charged at 2.46% above base rate. The final instalment is due September 2026.

The Company has a further loan from National Westminster Bank PLC. The balance on this loan at 31 January 2026 was £1,214,829 (2025 £1,245,942.) Interest is fixed at a rate of 3.25% above the Bank of England base rate. The final instalment is due October 2043.

National Westminster Bank PLC have security in the form of a fixed charge and a floating charge on the Company.

Amounts due under Hire Purchase facilities at 31 January 2026 was £121,775. (2025 - £67,760)

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