When John notices a manhole cover with the words ACE DRAGON LTD. written across it, he can't help but investigate what lies beneath. And so begins an unusual friendship between a boy and a dragon named Ace, who wears two pairs of Wellington boots and loves skywriting with fire, flying stunts to the moon, and turning gold into straw. With so many talents, John wonders if, unlike his moniker, Ace really isn't so limited after all!