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REGISTERED NUMBER: 04761212 (England and Wales)















PYTHON CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017





PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2017

2017 2016
Notes £    £    £    £   
Fixed assets
Tangible assets 4 8,371 574
Investment property 5 3,204,904 3,204,904
3,213,275 3,205,478

Current assets
Debtors 6 22,066 22,106
Cash at bank 29,139 24,697
51,205 46,803
Creditors
Amounts falling due within one year 7 1,984,773 1,995,845
Net current liabilities (1,933,568 ) (1,949,042 )
Total assets less current liabilities 1,279,707 1,256,436

Creditors
Amounts falling due after more than one
year
8
(131,000
)
(131,000
)

Provisions for liabilities (59,771 ) (58,295 )
Net assets 1,088,936 1,067,141

Capital and reserves
Called up share capital 100 100
Fair value reserve 9 248,029 248,029
Retained earnings 840,807 819,012
Shareholders' funds 1,088,936 1,067,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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.

The notes form part of these financial statements

Page 1 continued...
PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 23 July 2018 and were signed on its
behalf by:





Mr. Asjed Rafiq - Director


The notes form part of these financial statements

Page 2
PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017


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

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 October 2017 are the first that are prepared in
accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance
with UK GAAP, the date of transition to FRS 102 Section 1A is 1 November 2015.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

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 - 25% 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.

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.


Page 3 continued...
PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2017


2. Accounting policies - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 4 .

4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 November 2016 3,430 - 3,430
Additions 3,627 6,400 10,027
At 31 October 2017 7,057 6,400 13,457
Depreciation
At 1 November 2016 2,856 - 2,856
Charge for year 630 1,600 2,230
At 31 October 2017 3,486 1,600 5,086
Net book value
At 31 October 2017 3,571 4,800 8,371
At 31 October 2016 574 - 574

Page 4 continued...
PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2017


5. Investment property
Total
£   
Cost or valuation
At 1 November 2016
and 31 October 2017 3,204,904
Net book value
At 31 October 2017 3,204,904
At 31 October 2016 3,204,904

Cost or valuation at 31 October 2017 is represented by:

£   
Valuation in 2006 306,209
Cost 2,898,695
3,204,904

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

2017 2016
£    £   
Cost 2,898,695 2,898,695

The investment properties were valued on an open market basis on 31 October 2017 by the directors .

6. Debtors: amounts falling due within one year
2017 2016
£    £   
Trade debtors 7,685 7,325
Other debtors 14,381 14,781
22,066 22,106

7. Creditors: amounts falling due within one year
2017 2016
£    £   
Trade creditors 13,293 13,287
Taxation and social security 5,442 45,550
Other creditors 1,966,038 1,937,008
1,984,773 1,995,845

8. Creditors: amounts falling due after more than one year
2017 2016
£    £   
Other creditors 131,000 131,000

Page 5 continued...
PYTHON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04761212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2017


9. Reserves
Fair
value
reserve
£   
At 1 November 2016
and 31 October 2017 248,029

10. Related party disclosures

At 31 October 2017 company owed £1,488,427 to a director (2016: £1,395,924). 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 2017 company owed £120,000 to Rixil Import Export Limited
(2016: £120,000). The loan is unsecured, interest free and repayable on demand.

Page 6