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REGISTERED NUMBER: SC520684 (Scotland)















Financial Statements for the Year Ended 30 November 2024

for

Python Property Management Ltd

Python Property Management Ltd (Registered number: SC520684)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Python Property Management Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: C M Foster





REGISTERED OFFICE: Unit 3
Prestonhall Trading Estate
Cupar
Fife
KY15 4RD





REGISTERED NUMBER: SC520684 (Scotland)





ACCOUNTANTS: Highland Accountancy Practice
Chartered Accountants
Suite 1A, Willow House
Stoneyfield Business Park
Inverness
Highland
IV2 7PA

Python Property Management Ltd (Registered number: SC520684)

Abridged Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 950,000 875,000

CURRENT ASSETS
Debtors 11,298 10,967
Cash at bank and in hand 153,312 123,936
164,610 134,903
CREDITORS
Amounts falling due within one year 278,854 273,751
NET CURRENT LIABILITIES (114,244 ) (138,848 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

835,756

736,152

CREDITORS
Amounts falling due after more than one
year

425,158

458,833
NET ASSETS 410,598 277,319

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 5 (13,947 ) (88,947 )
Retained earnings 424,445 366,166
SHAREHOLDERS' FUNDS 410,598 277,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Property Management Ltd (Registered number: SC520684)

Abridged Balance Sheet - continued
30 November 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 4 April 2025 and were signed by:





C M Foster - Director


Python Property Management Ltd (Registered number: SC520684)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Python Property Management Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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.

A valuation is undertaken annually around the year end date by an independent firm of surveyors to ascertain the fair value of the investment property.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Python Property Management Ltd (Registered number: SC520684)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 875,000
Fair Value Adjustments 75,000
At 30 November 2024 950,000
NET BOOK VALUE
At 30 November 2024 950,000
At 30 November 2023 875,000

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2017 (188,947 )
Valuation in 2018 25,000
Valuation in 2019 50,000
Valuation in 2020 50,000
Valuation in 2021 25,000
Valuation in 2023 (50,000 )
Valuation in 2024 75,000
Cost 963,947
950,000

5. RESERVES
Fair
value
reserve
£   
At 1 December 2023 (88,947 )
Non Distributable Reserves 75,000

At 30 November 2024 (13,947 )

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
C M Foster
Balance outstanding at start of year (11,000 ) (9,000 )
Amounts repaid (1,000 ) (2,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,000 ) (11,000 )

Python Property Management Ltd (Registered number: SC520684)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

7. RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed Cobra Building Supplies Ltd., a company under common control,
£200,837 (2023 - £200,837). There are no fixed terms of repayment on the loan and no interest is charged on the outstanding balance .

8. ULTIMATE CONTROLLING PARTY

The controlling party is C M Foster.