REGISTERED NUMBER: 07503137 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 31 December 2024

for

Arena Property Investment Limited

Page

Company Information

1

Report of the Director

2

Chartered Accountants' Report

3

Income Statement

4

Other Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

8

Notes to the Financial Statements

9

DIRECTOR:

L G Wallman

REGISTERED OFFICE:

Fifth Floor

5 New Street Square

London

EC4A 3BF

REGISTERED NUMBER:

07503137 (England and Wales)

ACCOUNTANTS:

Krogh & Partners Limited

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of letting and buying and selling of real estate.

REVIEW OF BUSINESS

The results for the year and the financial position at the year end, were considered satisfactory by the directors.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTOR

L G Wallman held office during the whole of the period from 1 January 2024 to the date of this report.

RESULTS

The Company's profit for the year amounted to £ 16,778.

AUDITORS

The director has with reference to the exemptions in the Companies Act elected not to appoint auditors.

POST BALANCE SHEET EVENTS

No post balance sheet events have occured since 31 December 2024 which requires reporting or disclosing in the accounts.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE BOARD:

L G Wallman - Director

11 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arena Property Investment Limited for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Arena Property Investment Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Arena Property Investment Limited and state those matters that we have agreed to state to the director of Arena Property Investment Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arena Property Investment Limited and its director for our work or for this report.

It is your duty to ensure that Arena Property Investment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arena Property Investment Limited. You consider that Arena Property Investment Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Arena Property Investment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Krogh & Partners Limited

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

11 December 2025

TURNOVER

35,430

38,820

Direct costs

57,846

42,976

GROSS LOSS

(22,416

)

(4,156

)

Administrative expenses

(36,297

)

33,921

OPERATING PROFIT/(LOSS)

4

13,881

(38,077

)

Interest receivable and similar income

53,844

41,834

67,725

3,757

Interest payable and similar expenses

50,947

52,007

PROFIT/(LOSS) BEFORE TAXATION

16,778

(48,250

)

Tax on profit/(loss)

5

-

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

16,778

(48,250

)

PROFIT/(LOSS) FOR THE YEAR

16,778

(48,250

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

16,778

(48,250

)

FIXED ASSETS

Tangible assets

6

19,759

22,581

Investment property

7

1,273,490

1,574,990

1,293,249

1,597,571

CURRENT ASSETS

Debtors

8

3,400

3,963

Cash at bank

629

299

4,029

4,262

CREDITORS

Amounts falling due within one year

9

456,177

632,584

NET CURRENT LIABILITIES

(452,148

)

(628,322

)

TOTAL ASSETS LESS CURRENT LIABILITIES

841,101

969,249

CREDITORS

Amounts falling due after more than one year

10

653,827

798,753

NET ASSETS

187,274

170,496

CAPITAL AND RESERVES

Called up share capital

11

10,000

10,000

Retained earnings

12

177,274

160,496

SHAREHOLDERS' FUNDS

187,274

170,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

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

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

The financial statements were approved by the director and authorised for issue on 11 December 2025 and were signed by:

L G Wallman - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

10,000

208,746

218,746

Changes in equity

Total comprehensive income

-

(48,250

)

(48,250

)

Balance at 31 December 2023

10,000

160,496

170,496

Changes in equity

Total comprehensive income

-

16,778

16,778

Balance at 31 December 2024

10,000

177,274

187,274

1.	STATUTORY INFORMATION

Arena Property Investment Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover

Turnover represents rental income for the period.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on a straight-line basis over the expected useful life of the assets. The expected useful life is:

Plant & Machinery - 10 years

Investment property

Investment properties are included in the balance sheet at their fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset.

Debtors

Debtors are valued individually and there are made provision according to this valuation.

Current assets investments

Current assets investments are stated at market value as per the balance sheet date.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows.

3.	EMPLOYEES AND DIRECTORS

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

4.	OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024

2023

£

£

Depreciation - owned assets

2,822

2,823

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

28,227

DEPRECIATION

At 1 January 2024

5,646

Charge for year

2,822

At 31 December 2024

8,468

NET BOOK VALUE

At 31 December 2024

19,759

At 31 December 2023

22,581

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

1,574,990

Additions

4,978

Disposals

(306,478

)

At 31 December 2024

1,273,490

NET BOOK VALUE

At 31 December 2024

1,273,490

At 31 December 2023

1,574,990

The company's directors have made an assessment of the fair value of the investment property and believe that the carrying amount of the investment property at 31 December 2024 does not differ materially from the fair value at the end of the reporting period.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

-

563

Tenancy deposits

3,400

3,400

3,400

3,963

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

12,320

30,811

Current account Bergen Eiendom Invest AS

427,104

591,773

Current account director

153

-

Tenancy deposits

3,400

3,400

Other creditors

6,600

-

Accruals

6,600

6,600

456,177

632,584

The bank loans and overdrafts are secured by a fixed and floating charge over the undertaking and all property and assets present and future including all investments property.

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

653,827

798,753

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,000

Ordinary

1

10,000

10,000

10,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

12.

RESERVES

Retained

earnings

£

At 1 January 2024

160,496

Profit for the year

16,778

At 31 December 2024

177,274

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14.	PARENT UNDERTAKINGS AND RELATED PARTIES

The ultimate parent undertaking is Bergen Eiendom Invest AS

Bergen Eiendom Invest AS prepares group financial statements and copies can be obtained from:

Bergen Eiendom Invest AS

Sandbrekkevegen 100

5225 Nesttun

Norway