REGISTERED NUMBER: 03074527 (England and Wales)

DRAGONSWAY WALES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr E R Parks

Mr M J Ritchie

SECRETARY:

REGISTERED OFFICE:

Bryngolman Fam

Llangolman

Clynderwen

Pembrokeshire

SA66 7QL

REGISTERED NUMBER:

03074527 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

FIXED ASSETS

Tangible assets

4

21,805

47,934

Investments

5

2

2

21,807

47,936

CURRENT ASSETS

Stocks

988,924

489,018

Debtors

6

20,873

9,637

Cash at bank

15,019

17,768

1,024,816

516,423

CREDITORS

Amounts falling due within one year

7

649,290

318,167

NET CURRENT ASSETS

375,526

198,256

TOTAL ASSETS LESS CURRENT LIABILITIES

397,333

246,192

CREDITORS

Amounts falling due after more than one year

8

607,540

442,264

NET LIABILITIES

(210,207

)

(196,072

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(210,209

)

(196,074

)

(210,207

)

(196,072

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr M J Ritchie - Director

1.	STATUTORY INFORMATION

Dragonsway Wales Ltd 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2024

52,110

2,585

54,695

Additions

-

645

645

Disposals

(20,600

)

-

(20,600

)

At 31 December 2024

31,510

3,230

34,740

DEPRECIATION

At 1 January 2024

5,544

1,217

6,761

Charge for year

6,302

559

6,861

Eliminated on disposal

(687

)

-

(687

)

At 31 December 2024

11,159

1,776

12,935

NET BOOK VALUE

At 31 December 2024

20,351

1,454

21,805

At 31 December 2023

46,566

1,368

47,934

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

2

NET BOOK VALUE

At 31 December 2024

2

At 31 December 2023

2

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

15,329

501

Other debtors

5,544

9,136

20,873

9,637

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,858

33,745

Taxation and social security

3,750

779

Other creditors

643,682

283,643

649,290

318,167

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

607,540

442,264