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REGISTERED NUMBER: 10078272 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Dragon London Limited

Dragon London Limited (Registered number: 10078272)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dragon London Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mr Ozgur Yilmaz
Mr Ozgur Soydas
Mr Gokhan Koseoglu





REGISTERED OFFICE: 293 Green Lanes
Palmers Green
London
N13 4XS





REGISTERED NUMBER: 10078272 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

Dragon London Limited (Registered number: 10078272)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,017 4,525
Tangible assets 5 24,306 30,383
27,323 34,908

CURRENT ASSETS
Stocks 63,692 31,789
Debtors 6 157,303 151,593
Investments 7 4,667 4,667
Cash at bank and in hand 135,080 188,694
360,742 376,743
CREDITORS
Amounts falling due within one year 8 165,684 103,203
NET CURRENT ASSETS 195,058 273,540
TOTAL ASSETS LESS CURRENT
LIABILITIES

222,381

308,448

CREDITORS
Amounts falling due after more than one
year

9

(200,000

)

(191,139

)

PROVISIONS FOR LIABILITIES 12 (4,618 ) (5,773 )
NET ASSETS 17,763 111,536

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 16,763 110,536
17,763 111,536

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Dragon London Limited (Registered number: 10078272)

Balance Sheet - continued
31 December 2021


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

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:




Mr Ozgur Yilmaz - Director Mr Ozgur Soydas - Director




Mr Gokhan Koseoglu - Director


Dragon London Limited (Registered number: 10078272)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Dragon London Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.
The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are amortised equally over a deemed useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Government grants
Government grant received during the year has been accounted according to the policy per FRS 102.

The performance model required that:
(a) A grant that does not impose specified future performance-related conditions on the recipient is recognised in income when the grant proceeds are received or receivable.
(b) A grant that imposes specified future performance-related conditions on the recipient is recognised in income only when the performance-related conditions are met.

The accrual method requires that:
(a) An entity classifies a grant either as a grant relating to revenue or a grant relating to assets.
(b) Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate (Note: A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.)
(c) Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Dragon London Limited (Registered number: 10078272)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all 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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 16 ) .

Dragon London Limited (Registered number: 10078272)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2021
and 31 December 2021 7,542
AMORTISATION
At 1 January 2021 3,017
Amortisation for year 1,508
At 31 December 2021 4,525
NET BOOK VALUE
At 31 December 2021 3,017
At 31 December 2020 4,525

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021
and 31 December 2021 27,935 30,819 9,408 68,162
DEPRECIATION
At 1 January 2021 15,186 17,885 4,708 37,779
Charge for year 2,550 2,587 940 6,077
At 31 December 2021 17,736 20,472 5,648 43,856
NET BOOK VALUE
At 31 December 2021 10,199 10,347 3,760 24,306
At 31 December 2020 12,749 12,934 4,700 30,383

Dragon London Limited (Registered number: 10078272)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2021
and 31 December 2021 27,935
DEPRECIATION
At 1 January 2021 15,186
Charge for year 2,550
At 31 December 2021 17,736
NET BOOK VALUE
At 31 December 2021 10,199
At 31 December 2020 12,749

6. DEBTORS
31.12.21 31.12.20
£    £   
Amounts falling due within one year:
Trade debtors 48,385 32,464
Amounts owed by group undertakings 34,911 34,911
Other debtors 7,335 7,335
Car Lease Deposits 17,887 17,887
Tax 20,809 -
VAT 12,044 16,306
Prepayments and accrued income 5,432 32,190
146,803 141,093

Amounts falling due after more than one year:
Other debtors 10,500 10,500

Aggregate amounts 157,303 151,593

7. CURRENT ASSET INVESTMENTS
31.12.21 31.12.20
£    £   
Unlisted investments 4,667 4,667

Dragon London Limited (Registered number: 10078272)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts (see note 10) 50,000 60,291
Hire purchase contracts (see note 11) - 1,304
Trade creditors 65,590 12,042
Taxation and social security 3,094 29,566
Other creditors 47,000 -
165,684 103,203

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans (see note 10) 200,000 191,139

10. LOANS

An analysis of the maturity of loans is given below:

31.12.21 31.12.20
£    £   
Amounts falling due within one year or on demand:
Bank loans less than 1 yr 50,000 60,291

Amounts falling due between one and two years:
Bank loans - 1-2 years 50,000 65,882

Amounts falling due between two and five years:
Bank loans - 2-5 years 150,000 125,257

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.21 31.12.20
£    £   
Gross obligations repayable:
Within one year - 2,047

Finance charges repayable:
Within one year - 743

Net obligations repayable:
Within one year - 1,304

Dragon London Limited (Registered number: 10078272)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

11. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.21 31.12.20
£    £   
Within one year 136,693 133,654
Between one and five years 38,452 97,373
175,145 231,027

12. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax 4,618 5,773

Deferred
tax
£   
Balance at 1 January 2021 5,773
Credit to Profit & Loss Account during year (1,155 )
Balance at 31 December 2021 4,618

13. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENCIES

The company had outstanding commitments in respect of operating leases as 31 December 2021 of £112,684.