IRIS Accounts Production v24.1.0.578 04761212 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047612122022-10-31047612122023-10-31047612122022-11-012023-10-31047612122021-10-31047612122021-11-012022-10-31047612122022-10-3104761212ns15:EnglandWales2022-11-012023-10-3104761212ns14:PoundSterling2022-11-012023-10-3104761212ns10:Director12022-11-012023-10-3104761212ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3104761212ns10:SmallEntities2022-11-012023-10-3104761212ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3104761212ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3104761212ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3104761212ns10:FullAccounts2022-11-012023-10-3104761212ns5:CurrentFinancialInstruments2023-10-3104761212ns5:CurrentFinancialInstruments2022-10-3104761212ns5:Non-currentFinancialInstruments2023-10-3104761212ns5:Non-currentFinancialInstruments2022-10-3104761212ns5:ShareCapital2023-10-3104761212ns5:ShareCapital2022-10-3104761212ns5:FurtherSpecificReserve3ComponentTotalEquity2023-10-3104761212ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-3104761212ns5:RetainedEarningsAccumulatedLosses2023-10-3104761212ns5:RetainedEarningsAccumulatedLosses2022-10-3104761212ns10:RegisteredOffice2022-11-012023-10-3104761212ns5:FurnitureFittings2022-11-012023-10-3104761212ns5:MotorVehicles2022-11-012023-10-3104761212ns5:FurnitureFittings2022-10-3104761212ns5:MotorVehicles2022-10-3104761212ns5:FurnitureFittings2023-10-3104761212ns5:MotorVehicles2023-10-3104761212ns5:FurnitureFittings2022-10-3104761212ns5:MotorVehicles2022-10-3104761212ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3104761212ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3104761212ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-31
REGISTERED NUMBER: 04761212 (England and Wales)















PYTHON CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 4 2,874 3,382
Investment property 5 4,671,517 4,523,168
4,674,391 4,526,550

Current assets
Debtors 6 27,218 18,597
Cash at bank 76,737 33,556
103,955 52,153
Creditors
Amounts falling due within one year 7 (2,923,054 ) (2,870,304 )
Net current liabilities (2,819,099 ) (2,818,151 )
Total assets less current liabilities 1,855,292 1,708,399

Creditors
Amounts falling due after more than one
year

8

(131,000

)

(131,000

)

Provisions for liabilities (45,486 ) (44,956 )
Net assets 1,678,806 1,532,443

Capital and reserves
Called up share capital 100 100
Non-distributable reserves 9 248,029 248,029
Retained earnings 1,430,677 1,284,314
Shareholders' funds 1,678,806 1,532,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Asjed Rafiq - Director


PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. Statutory information

Python Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04761212

Registered office: Maitland Mill
Maitland Street
Preston
PR1 5XR

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Grants are credited to deferred revenue. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Impairment
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.

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 are 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.

PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. Employees and directors

The average number of employees during the year was 5 (2022 - 3 ) .

4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 November 2022
and 31 October 2023 8,199 6,400 14,599
Depreciation
At 1 November 2022 6,108 5,109 11,217
Charge for year 314 194 508
At 31 October 2023 6,422 5,303 11,725
Net book value
At 31 October 2023 1,777 1,097 2,874
At 31 October 2022 2,091 1,291 3,382

5. Investment property
Total
£   
Cost or valuation
At 1 November 2022 4,523,168
Additions 148,349
At 31 October 2023 4,671,517
Net book value
At 31 October 2023 4,671,517
At 31 October 2022 4,523,168

Cost or valuation at 31 October 2023 is represented by:
£   
Valuation in 2006 306,209
Cost 4,365,308
4,671,517

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 4,365,308 4,216,958

The investment properties were valued on an open market basis on 31 October 2023 by the directors .

PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 27,218 18,597

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 10,750 10,750
Taxation and social security 44,260 26,776
Other creditors 2,868,044 2,832,778
2,923,054 2,870,304

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other creditors 131,000 131,000

9. Reserves
Non-distrib
reserves
£   
At 1 November 2022
and 31 October 2023 248,029

10. Related party disclosures

At 31 October 2023 company owed £2,455,703 to the directors (2022: £2,421,743). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.

Mr Asjed Rafiq is also a director and shareholder, and Mr Mohammad Rafiq is a shareholder in Rixil Import Export Limited. At 31 October 2023 company owed £37,420 to Rixil Import Export Limited (2022: £40,420). The loan is unsecured, interest free and repayable on demand.