Registered number
08660315
Dragon Inn (Crickhowell) Limited
Unaudited Filleted Accounts
31 December 2024
Dragon Inn (Crickhowell) Limited
Registered number: 08660315
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Leasehold improvements 3 70,298 77,107
Tangible assets 4 22,265 24,645
92,563 101,752
Current assets
Stocks 11,830 11,830
Debtors 5 10,270 23,046
Cash at bank and in hand 66,104 98,773
88,204 133,649
Creditors: amounts falling due within one year 6 (129,154) (236,270)
Net current liabilities (40,950) (102,621)
Total assets less current liabilities 51,613 (869)
Creditors: amounts falling due after more than one year 7 (101,441) (15,011)
Provisions for liabilities (3,607) (2,327)
Net liabilities (53,435) (18,207)
Capital and reserves
Called up share capital 100 100
Profit and loss account (53,535) (18,307)
Shareholders' funds (53,435) (18,207)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Nigel Rowe
Director
Approved by the board on 18 September 2025
Dragon Inn (Crickhowell) Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
The accounts show net liabilities. The directors still consider it appropriate that the financial statements are prepared on a going concern basis as the directors continue to support the business financially.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings 5% straight line
Plant and machinery 20% straight line
Computer 33.33% straight line
Equipment, fixtures and fittings 15% straight line
Motor vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 55 41
3 Leasehold improvements £
Cost
At 1 January 2024 136,168
At 31 December 2024 136,168
Amortisation
At 1 January 2024 59,061
Provided during the year 6,809
At 31 December 2024 65,870
Net book value
At 31 December 2024 70,298
At 31 December 2023 77,107
4 Tangible fixed assets
Equipment, fixtures and fittings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 62,480 68,682 131,162
Additions 1,505 7,497 9,002
Disposals (14,379) (11,726) (26,105)
At 31 December 2024 49,606 64,453 114,059
Depreciation
At 1 January 2024 54,576 51,941 106,517
Charge for the year 3,459 6,783 10,242
On disposals (14,067) (10,898) (24,965)
At 31 December 2024 43,968 47,826 91,794
Net book value
At 31 December 2024 5,638 16,627 22,265
At 31 December 2023 7,904 16,741 24,645
5 Debtors 2024 2023
£ £
Other debtors 10,270 23,046
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 27,756 44,678
Taxation and social security costs 51,635 43,719
Income in Advance 13,169 14,032
Other creditors 26,594 123,841
129,154 236,270
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,167 14,167
Other creditors 97,274 844
101,441 15,011
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 176,707 232,687
Amount due not later than 1 year 51,820 55,980
Amount due later than 1 year but not later than 5 years 124,887 176,707
176,707 232,687
Included in the above figure is the lease for 47 High Street Crickhowell which began on 1st
October 2023 and has a break clause after 5 years.
9 Related party transactions
Tower Pension Trustees Limited
Tower Pension Trustees Limited manages the pension fund for which the members are Nigel Rowe and Gareth Rowe.
Tower Pension Trustees Limited acquired the freehold of the Dragon Inn in August 2021.
During the period ending 31st December 2024 the Dragon Inn (Crickhowell) Limited were charged rental costs totalling £46,500 (2023: £50,700) along with insurance costs of £4,658.23 (2023: £5,193.02)
The rent payable in the accounts of £41,504 (2023: £37,391) includes rent charged by Tower Pension Trustees Limited and is after accounting adjustments for prepayment of rent invoiced monthly in advance and the reduced rate period of the lease.
As at 31st December 2024 Tower Pension Trustees Limited were owed an amount of £NIL by the Dragon Inn (Crickhowell) Limited. (2023: £Nil)
Rhiannon Rowe
Rhiannon Rowe is the daughter of the Company Director Gareth Rowe.
During the period wages and pension costs of £13,887.34 were incurred in relation to Rhiannon Rowe as an employee.
Owain Rowe
Owain Rowe is the son of the Company Director Gareth Rowe.
During the period wages and pension costs of £18,131.84 were incurred in relation to Owain Rowe as an employee.
Huw Rowe
Huw Rowe is son of the Company Director Gareth Rowe.
During the period wages and pension costs of £2,004.33 were incurred in relation to Huw Rowe as an employee.
Leigh Rowe
Leigh Rowe is the spouse of the Company Director Gareth Rowe.
During the period wages and pension costs of £76,894.60 were incurred in relation to Leigh Rowe as an employee (2023: £60,741.18).
10 Controlling party
Mr Nigel Rowe holds 70% of the share capital of the company and Mr Gareth Rowe holds 30% of the share capital of the company. Therefore Mr Nigel Rowe is the company's ultimate controlling party.
11 Transactions with directors
During the year Nigel Rowe used a current account with the company to record amounts due to him and amounts drawn by him. As at 31st December 2024 the account showed an amount owing back to Nigel Rowe as a director of £97,273.56 (2023: £843.56). The amount is not repayable within the next 12 months and does not carry interest.

During the year company director Gareth Rowe used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owing back to Gareth Rowe as a director as at 31st December 2024 of £2,648.19 (2023: £214.89). The amount is repayable on demand and does not carry interest.
11 Other information
Dragon Inn (Crickhowell) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Bank
Beaufort Street
Crickhowell
Powys
NP8 1AD
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