Registration number: 03376763

The Crazy Scots Fun Palace Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

The Crazy Scots Fun Palace Limited

Company Information

Directors

P Mountain J Mountain

Registered office

Kingfisher Court Plaxton Bridge Road Woodmansey Beverley East Yorkshire HU17 0RT

The Crazy Scots Fun Palace Limited

(Registration number: 03376763)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Goodwill	4	1	1
Tangible assets	5	4,758	5,598
Investment property	6	348,173	348,173
		352,931	353,771
Current assets
Debtors	7	5,000	6,548
Cash at bank and in hand		51,428	39,357
		56,428	45,905
Creditors: Amounts falling due within one year	8	(442,300)	(433,444)
Net current liabilities		(385,872)	(387,539)
Net liabilities		(32,940)	(33,767)
Capital and reserves
Called up share capital		100	100
Retained earnings		(33,040)	(33,867)
Shareholders' deficit		(32,940)	(33,767)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 December 2025 and signed on its behalf by:
 

......................................... P Mountain Director

The Crazy Scots Fun Palace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 03376763.

The address of its registered office is:
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

The principal place of business is:
9 Rigby Road
Blackpool
FY1 5DE

These financial statements were authorised for issue by the Board on 9 December 2025.

2	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.

The financial statements are presented in sterling and are rounded to the nearest pound.

Going concern

The directors are aware that there is concern surrounding the going concern of the company due to its insolvent balance sheet position of £32,940. This is largely due to a director's loan balance of £387,849. The directors have confirmed that they will not seek repayment of this balance until the company is in a position to make the payment.

The directors have a reasonable expectation that the company's financial position will improve and the directors and shareholders have confirmed they will continue to support the company and as a result the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the rent receivable 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.

The Crazy Scots Fun Palace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred 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.

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.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% on cost - now fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

The Crazy Scots Fun Palace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2024 - 2).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	50,000	50,000
At 31 March 2025	50,000	50,000
Amortisation
At 1 April 2024	49,999	49,999
At 31 March 2025	49,999	49,999
Carrying amount
At 31 March 2025	1	1
At 31 March 2024	1	1

The Crazy Scots Fun Palace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Fixtures and fittings  £	Total £
Cost or valuation
At 1 April 2024	299,696	299,696
At 31 March 2025	299,696	299,696
Depreciation
At 1 April 2024	294,098	294,098
Charge for the year	840	840
At 31 March 2025	294,938	294,938
Carrying amount
At 31 March 2025	4,758	4,758
At 31 March 2024	5,598	5,598

6	Investment properties

	2025 £
At 1 April	348,173
At 31 March	348,173

There has been no valuation of investment property by an independent valuer.

The directors consider the investment property to be included in the financial statements at fair value.

7

Debtors

	2025 £	2024 £
Other debtors	5,000	6,203
Deferred tax assets	-	345
	5,000	6,548

The Crazy Scots Fun Palace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	423,317	414,616
Taxation and social security		18,013	17,908
Accruals and deferred income		970	920
		442,300	433,444