Registration number: SC263359

Openarena Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6
Accountants' Report	7

Openarena Limited

Company Information

Director

Mr Steven James Gormley

Registered office

Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Openarena Limited

(Registration number: SC263359)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	2,237	786
Current assets
Debtors	5	15,094	19,624
Cash at bank and in hand		70,571	65,924
		85,665	85,548
Creditors: Amounts falling due within one year	7	(33,435)	(30,557)
Net current assets		52,230	54,991
Total assets less current liabilities		54,467	55,777
Provisions for liabilities		(559)	(197)
Net assets		53,908	55,580
Capital and reserves
Called up share capital		1	1
Retained earnings		53,907	55,579
Shareholders' funds		53,908	55,580

For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 October 2026
 

......................................... Mr Steven James Gormley Director

Openarena Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

2	Accounting policies

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 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

Openarena Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

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 & Fittings	25% on reducing balance
Office equipment	33% on cost

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 1).

Openarena Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 March 2025	2,607	5,395	8,002
Additions	1,564	775	2,339
At 28 February 2026	4,171	6,170	10,341
Depreciation
At 1 March 2025	2,440	4,776	7,216
Charge for the year	551	337	888
At 28 February 2026	2,991	5,113	8,104
Carrying amount
At 28 February 2026	1,180	1,057	2,237
At 28 February 2025	167	619	786

5

Debtors

Current	2026 £	2025 £
Trade debtors	10,276	6,722
Other debtors	4,818	12,902
	15,094	19,624

6	Related party transactions

Transactions with directors Debtors include the following amounts which are owed from individuals who were directors of the company during the year:

2026	At 1 March 2025 £	Repayments by director £	At 28 February 2026 £
Mr Steven James Gormley
Loan	6,868	(6,868)	-

Openarena Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

2025	At 1 March 2024 £	Repayments by director £	At 28 February 2025 £
Mr Steven James Gormley
Loan	46,576	(39,708)	6,868

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

	2026  £
Mr Steven James Gormley	50
	50

The maximum balance outstanding during the year amounted to £50.

The directors current accounts are repayable on demand.

Included within other debtors is an amount owed from John Amabile Design Ltd of £2,500 (2025: £3,500), which is wholly owned by a close family member of the director.

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Taxation and social security	32,773	28,198
Other creditors	662	2,359
	33,435	30,557

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Openarena Limited
for the Year Ended 28 February 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Openarena Limited for the year ended 28 February 2026 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Openarena Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Openarena Limited and state those matters that we have agreed to state to the Board of Directors of Openarena Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Openarena Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Openarena Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Openarena Limited. You consider that Openarena 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 accounts of Openarena 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 accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

7 October 2026