Dragon Direct Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11064356

Dragon Direct Limited

Filleted Unaudited Financial Statements

31 March 2025

Dragon Direct Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Current assets

Stocks		63,198	80,849
Debtors	5	20,287	21,428
Cash at bank and in hand		7,514	649
		--------	---------
		90,999	102,926

Creditors: amounts falling due within one year	6	26,659	69,638
		--------	---------
Net current assets		64,340	33,288
		--------	--------
Total assets less current liabilities		64,340	33,288

Creditors: amounts falling due after more than one year	7	30,000	–
		--------	--------
Net assets		34,340	33,288
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	34,240	33,188
	--------	--------
Shareholders funds	34,340	33,288
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Dragon Direct Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 4 November 2025 , and are signed on behalf of the board by:

C D Nash
Director

Company registration number: 11064356

Dragon Direct Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Oak Tree Close, New Inn, Pontypool, United Kingdom, NP4 0DG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The principal activity of the company during the year was distribution of safety products. The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling which is the functional currency of the entity. The figures in the financial statements are rounded to the nearest pound.

Going concern

The Directors consider that the company remains a going concern having regard to the financial support given by themselves and future predicted cash flow and profitability.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% p.a. Straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	5,000
	-------
Amortisation
At 1 April 2024 and 31 March 2025	5,000
	-------
Carrying amount
At 31 March 2025	–
	-------
At 31 March 2024	–
	-------

5. Debtors

	2025	2024
	£	£
Trade debtors	10,549	–
Other debtors	9,738	21,428
	--------	--------
	20,287	21,428
	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	15,000	–
Trade creditors	8,968	64,245
Corporation tax	247	4,573
Other creditors	2,444	820
	--------	--------
	26,659	69,638
	--------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	30,000	–
	--------	----

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
C D Nash	–	–	–
G Howgate	–	–	–
	----	----	----
	–	–	–
	----	----	----

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
C D Nash	( 13,025)	13,025	–
G Howgate	( 13,025)	13,025	–
	--------	--------	----
	( 26,050)	26,050	–
	--------	--------	----

9. Related party transactions

The company was under the control of the Directors throughout the period. Mr C D Nash and Mr G S Howgate. The Director Mr C D Nash is also the managing director of Zeffa Online Limited. As at 31 March 2025 the company was owed £10,549 by Zeffa Online Limited (2024: £40,804 owed to Zeffa Online Limited). The amount is subject to interest of 10.9% per annum and included within creditors repayable within one year. During the year the company incurred a management charge from Zeffa Online Limited of £33,353 (2024: £39,644) in respect of wages, professional fees, office running costs, loan interest, stock and carriage.