FIFE FLYERS LIMITED


Directors	Felix Leoridovitch Kozak
	Thomas Muir


Registered Address	Fife Ice Arena
	Rosslyn Street
	Kirkclady
	KY1 3HS


Registered Number	SC167157 (Scotland)

Balance Sheet as at
30 April 2025

	Notes	30 Apr 2025		31 Jul 2024
		£	£	£	£
Current assets
Debtors	3	1,500		36,000
Cash at bank and on hand		1,700		43,544
		3,200		79,544
Creditors amounts falling due within one year	4	(892,863)		(977,102)
Net current assets (liabilities)			(889,663)		(897,558)
Total assets less current liabilities			(889,663)		(897,558)
Creditors amounts falling due after one year	5		(10,834)		(18,334)
Net assets			(900,497)		(915,892)
Capital and reserves
Called up share capital			20,000		20,000
Profit and loss account			(920,497)		(935,892)
Shareholders' funds			(900,497)		(915,892)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 7 July 2026, and are signed on its behalf by:

Thomas Muir
Director
Registered Company No. SC167157

FIFE FLYERS LIMITED

Notes to the Financial Statements
for the period ended 30 April 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	The financial statements have been prepared on the going concern basis. The directors find it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the directors who have confirmed they will not withdraw their directors loan account to the detriment of other creditors and will continue to support the company as required.

Going concern

The financial statements have been prepared on the going concern basis. The directors find it appropriate for the
financial statements to be prepared on this basis despite the net liability position of the company. The company is
reliant upon the continued support of the directors who have confirmed they will not withdraw their directors
loan account to the detriment of other creditors and will continue to support the company as required.

	Turnover policy
	Turnover represents net invoiced ticket sales and sponsorship monies, excluding value added tax.

	Employee benefits
	The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.

	Current 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.

Current 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 between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 

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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 

Current and deferred tax assets and liabilities are not discounted.

	Finance leases and hire purchase contracts
	Operating lease rentals are charged to the profit and loss account in periods to which they relate. Operating lease commitments are on a season to season basis with no longer term obligations.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	28		28

3.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,500	36,000
Total	1,500	36,000

4.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	75,206	913
Bank borrowings and overdrafts	10,000	10,001
Taxation and social security	87,685	36,165
Other creditors	717,322	689,024
Accrued liabilities and deferred income	2,650	240,999
Total	892,863	977,102

5.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	834	8,334
Other creditors	10,000	10,000
Total	10,834	18,334