Registration number:
Pygmalion Properties Limited
for the Year Ended 31 January 2025
Pygmalion Properties Limited
Contents
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Director's Report |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Pygmalion Properties Limited
Director's Report for the Year Ended 31 January 2025
The Director presents his report and the financial statements for the year ended 31 January 2025.
Director of the Company
The Director who held office during the year was as follows:
Principal activity
The principal activity of the Company is property investors.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Pygmalion Properties Limited
(Registration number: SC148743)
Statement of Financial Position as at 31 January 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Pygmalion Properties Limited
(Registration number: SC148743)
Statement of Financial Position as at 31 January 2025
Approved and authorised by the
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Pygmalion Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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General information |
The Company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
The principal place of business is:
35 Byron Street
DUNDEE
DD3 6QT
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Pygmalion Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.
Pygmalion Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Depreciation
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Asset class |
Depreciation method and rate |
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Plant and Machinery |
15% |
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Fixtures and Fittings |
15% |
Investment property
Provisions
Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
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Staff numbers |
The average number of persons employed by the Company (including the Director) during the year, was
Pygmalion Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Investment properties |
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2025 |
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At 1 February |
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At 31 January |
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The last valuation of investment property was at 31 January 2025 by the directors and they are of the opinion that they are stated at fair value in these accounts.
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Debtors |
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Current |
2025 |
2024 |
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Prepayments |
- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Pygmalion Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |