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

COMPANY REGISTRATION NUMBER: 03091591

Dragon Laser Limited

Filleted Unaudited Financial Statements

For the year ended

28 February 2025

Dragon Laser Limited

Financial Statements

Year ended 28 February 2025

Contents	Page

Accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Dragon Laser Limited

Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Dragon Laser Limited

Year ended 28 February 2025

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 28 February 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

CLAY SHAW THOMAS LTD Accountants

2 Oldfield Road Bocam Park Bridgend CF35 5LJ

28 November 2025

Dragon Laser Limited

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		496,989	663,302

Current assets

Stocks		390,208	400,666
Debtors	6	194,080	218,905
Cash at bank and in hand		29,392	30,956
		---------	---------
		613,680	650,527

Creditors: amounts falling due within one year	7	410,224		364,357
		---------		---------
Net current assets			203,456	286,170
			---------	---------
Total assets less current liabilities			700,445	949,472

Creditors: amounts falling due after more than one year	8		178,275	380,579

Provisions

Taxation including deferred tax	117,475	157,516
	---------	---------
Net assets	404,695	411,377
	---------	---------

Capital and reserves

Called up share capital	14,510	14,510
Capital redemption reserve	65,490	65,490
Profit and loss account	324,695	331,377
	---------	---------
Shareholders funds	404,695	411,377
	---------	---------

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 28 February 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 Laser Limited

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 28 November 2025 , and are signed on behalf of the board by:

Mr M Prime
Director

Company registration number: 03091591

Dragon Laser Limited

Notes to the Financial Statements

Year ended 28 February 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 2 Oldfield Road, Bocam Park, Bridgend, CF35 5LJ.

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 financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit and loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. (a) Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: (i) Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profit of debtors and historical experience.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced for the cutting of sheet metal during the year, exclusive of Value Added Tax.

Taxation

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	12% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	20% straight line
Equipment	-	20 % straight line

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 17 (2024: 19 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 March 2024	1,715,257	82,877	59,582	54,069	1,911,785
Additions	757	239	–	–	996
Disposals	( 25,501)	–	–	–	( 25,501)
	------------	--------	--------	--------	------------
At 28 February 2025	1,690,513	83,116	59,582	54,069	1,887,280
	------------	--------	--------	--------	------------
Depreciation
At 1 March 2024	1,100,059	67,543	39,170	41,711	1,248,483
Charge for the year	137,974	5,368	4,999	4,689	153,030
Disposals	( 11,222)	–	–	–	( 11,222)
	------------	--------	--------	--------	------------
At 28 February 2025	1,226,811	72,911	44,169	46,400	1,390,291
	------------	--------	--------	--------	------------
Carrying amount
At 28 February 2025	463,702	10,205	15,413	7,669	496,989
	------------	--------	--------	--------	------------
At 29 February 2024	615,198	15,334	20,412	12,358	663,302
	------------	--------	--------	--------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	186,505	206,721
Other debtors	7,575	12,184
	---------	---------
	194,080	218,905
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	72,496	72,496
Trade creditors	112,490	72,109
Social security and other taxes	60,683	66,628
Wages creditor	3,380	4,408
Pension creditor	1,698	1,379
Other creditors	159,477	147,337
	---------	---------
	410,224	364,357
	---------	---------

Hire purchase is secured on the asset it relates to.

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

	2025	2024
	£	£
Bank loans and overdrafts	19,796	92,296
Other creditors	158,479	288,283
	---------	---------
	178,275	380,579
	---------	---------

9. Directors' advances, credit and guarantees

During the year transactions with the director were as follows;

		2025
		£
	Opening balance owed from the director as at 1 March 2024	2,995
	Withdrawals	3,021
	Injections	(20,000)
		--------
	Closing balance owed to the director as at 28 Febuary 2025	(13,984)
		--------

There are no fixed terms of repayment and interest is being charged at 2.5%.

10. Related party transactions

Mr J Prime, a shareholder of the company also has interests in Prime Partnership and Floatridge Limited and is the father of Mr M Prime , a director and shareholder of the Company. During the year, Dragon Laser Limited made purchases amounting to £43,200 (2024: £35,500) from Prime Partnership. At the year end, Dragon Laser Limited owed £3,600 (2024: £7,200) to Prime Partnership.