Company No: 12297637 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Investments	3	25,313		545,502
		25,313		545,502
Current assets
Debtors	4	695,800		43,488
Investments	5	60,000		60,000
Cash at bank and in hand		16,954		18,575
		772,754		122,063
Creditors: amounts falling due within one year	6	( 85,237)		( 54,661)
Net current assets		687,517		67,402
Total assets less current liabilities		712,830		612,904
Creditors: amounts falling due after more than one year	7	( 758,061)		( 434,558)
Net (liabilities)/assets		( 45,231)		178,346
Capital and reserves
Called-up share capital	8	20,000		20,000
Profit and loss account		( 65,231 )		158,346
Total shareholders' (deficit)/funds		( 45,231)		178,346

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Dragonrose Holdings Limited (registered number: 12297637) were approved and authorised for issue by the Board of Directors on 30 September 2025. They were signed on its behalf by:

Mr D J Gough Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dragonrose Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, England, United Kingdom.

The principal place of business is Unit 5 Kingsmill Industrial Estate, Saunders Way, Cullompton, EX15 1BS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Turnover is recognised in the period to which it relates.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable
income.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		3

3. Fixed asset investments

	Listed investments		Investments in associates		Total
	£		£		£
Cost or valuation before impairment
At 01 January 2024	22,232		300,000		322,232
Additions	0		100		100
Movement in fair value	2,981		0		2,981
At 31 December 2024	25,213		300,100		325,313
Provisions for impairment
At 01 January 2024	0		0		0
Impairment	0		300,000		300,000
At 31 December 2024	0		300,000		300,000
Carrying value at 31 December 2024	25,213		100		25,313
Carrying value at 31 December 2023	22,232		300,000		322,232

Other investments comprise listed investments at fair value and other investments at cost less impairment.

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the shares on acquisition was £20,000. Other investments are held at cost less impairment because their fair value cannot be measured reliably.

On 26 January 2024, the company purchased 50% holding in SW Food Group Ltd.

On 12 February 2024, the company disposed of subsidiary Southwest Sandwich Company Ltd to SW Food Group Ltd, a company under the control of a director.

4. Debtors

	2024		2023
	£		£
Trade debtors	18,152		29,174
Amounts owed by Group undertakings	0		4,064
Accrued income	3,388		250
Other debtors	674,260		10,000
	695,800		43,488

5. Current asset investments

	2024		2023
	£		£
Other investments – at cost less impairment	60,000		60,000

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	7,247		7,069
Trade creditors	269		0
Amounts owed to own subsidiaries	0		4,697
Amounts owed to directors	20,000		20,000
Other loans	18,000		0
Accruals	3,250		2,363
Taxation and social security	32,511		18,541
Other creditors	3,960		1,991
	85,237		54,661

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	4,311		11,558
Amounts owed to directors	483,750		408,000
Other loans	270,000		15,000
	758,061		434,558

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
20,000 Ordinary shares of £ 1.00 each	20,000		20,000

9. Related party transactions

Other related party transactions

	2024		2023
	£		£
Entity with two directors in common	27,007		35,900
Associate	35,154		20,000

During the year the company made sales to the two related parties as listed above.