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Registered number: 06229631 THE ACTIVE NETWORK (EU) LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE ACTIVE NETWORK (EU) LTD CONTENTS
| Page
Company information | 1
Balance sheet | 2
Statement of changes in equity | 3
Notes to the financial statements | 4 - 12
THE ACTIVE NETWORK (EU) LTD COMPANY INFORMATION
Director | D L Green
Company secretary | D L Green
Registered number | 06229631
Registered office | 5 New Street Square
| London
| EC4A 3TW
Independent auditor | Blick Rothenberg Audit LLP
| Chartered Accountants & Statutory Auditor
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:06229631
THE ACTIVE NETWORK (EU) LTD BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Tangible assets | 4 |  | - |  | -
|  |  | - |  | -
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 582,994 |  | 952,532 |
Cash at bank and in hand | 6 | 1,974,016 |  | 1,450,594 |
|  | 2,557,010 |  | 2,403,126 |
Creditors: amounts falling due within one year | 7 | (136,463) |  | (106,287) |
Net current assets |  |  | 2,420,547 |  | 2,296,839
Total assets less current liabilities |  |  | 2,420,547 |  | 2,296,839
Net assets |  |  | 2,420,547 |  | 2,296,839
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 2 |  | 2
Profit and loss account |  |  | 2,420,545 |  | 2,296,837
Total equity |  |  | 2,420,547 |  | 2,296,839
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the sole director:
D L Green
Director
Date: 1 October 2025
The notes on pages 4 to 12 form part of these financial statements. Page 2
THE ACTIVE NETWORK (EU) LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2023 | 2 | 2,117,089 | 2,117,091
Comprehensive income for the year |  |  |
Profit for the year | - | 103,940 | 103,940
Total comprehensive income for the year | - | 103,940 | 103,940
Contributions by and distributions to owners |  |  |
Share based payment expense | - | 75,808 | 75,808
Total transactions with owners | - | 75,808 | 75,808
At 31 December 2023 and 1 January 2024 | 2 | 2,296,837 | 2,296,839
Comprehensive income for the year |  |  |
Profit for the year | - | 17,808 | 17,808
Total comprehensive income for the year | - | 17,808 | 17,808
Contributions by and distributions to owners |  |  |
Share based payment expense | - | 105,900 | 105,900
Total transactions with owners | - | 105,900 | 105,900
At 31 December 2024 | 2 | 2,420,545 | 2,420,547
| The notes on pages 4 to 12 form part of these financial statements.
Page 3
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
The Active Network (EU) Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 5 New Street Square, London, EC4A 3TW. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company is reliant on the support of a group undertaking that is also its sole customer. It has received a letter confirming their continued support for at least the next twelve months. After making enquiries, the director has a reasonable expectation that the group has adequate resources to continue in operational existence and meet its liabilities, including providing support to The Active Network (EU) Ltd, as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.
| 2.3 | Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 4
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 33% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 5
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors and loans from fellow group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been Page 6
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued) recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| 2.6 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Certain portions of cash and cash equivalents are unrestricted but not available for general purposes. The amount of cash considered to be available for general purposes does not include the following balances held on behalf of fellow group companies for: (i) settlement-related cash balances, (ii) funds held as collateral for merchant losses (“Merchant Reserves”) and (iii) funds held for customers.
| 2.7 | Share capital
Ordinary shares are classified as equity. Page 7
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is Sterling (£). Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administrative expenses'.
| 2.9 | Share based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the profit and loss account over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the profit and loss account over the vesting period with a corresponding credit to equity within the share based payment reserve. On exercise of the share options, an amount is transferred from the share based payment reserve to the profit and loss account reserve. Where the company cancels or settles an equity-settled share-based payment transaction during the vesting period, this is treated as an acceleration of vesting, and the company recognises immediately the amount that would otherwise have been recognised for services received over the remainder of the vesting period. Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit and loss account over the remaining vesting period. Where equity instruments are granted to persons other than employees, the profit and loss account is charged with fair value of goods and services received. Page 8
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.10 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.11 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2023 - 5).
Page 9
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Computer equipment
|  | £
| Cost |
| At 1 January 2024 | 8,349
| Disposals | (8,349)
| At 31 December 2024 | -
| At 1 January 2024 | 8,349
| Disposals | (8,349)
| At 31 December 2024 | -
| Net book value |
| At 31 December 2024 | -
| At 31 December 2023 | -
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 489,444 | 819,246
| Other debtors | 10,198 | 25,555
| Tax recoverable | 18,317 | 18,317
| Deferred taxation | 65,035 | 89,414
|  | 582,994 | 952,532
| Amounts owed by group companies are interest free, unsecured and repayable on demand.
Page 10
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,974,016 | 1,450,594
| Certain portions of cash and cash equivalents are unrestricted but not available for general purposes: £1,954,189 (2023: £1,373,641). The amount of cash considered to be available for general purposes does not include the following balances held on behalf of fellow group companies for: (i) settlement-related cash balances, (ii) funds held as collateral for merchant losses (“Merchant Reserves”) and (iii) funds held for customers.
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 537 | 14,824
| Other creditors | 40,820 | 8,115
| Accruals | 95,106 | 83,348
|  | 136,463 | 106,287
8. | Deferred taxation
|  | 2024 | 2023
|  | £ | £
| At beginning of year | 89,414 | 76,424
| Movement in year | (24,379) | 12,990
| At end of year | 65,035 | 89,414
| The deferred tax asset is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | 42,038 | 47,143
| Share based payments | 22,997 | 42,271
|  | 65,035 | 89,414
Page 11
THE ACTIVE NETWORK (EU) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2023 - 2) Ordinary shares of £1 each | 2 | 2
10. | Parent undertaking
The smallest group for which consolidated financial statements are drawn up is headed by Global Payments Inc. whose registered office is 3550 Lenox Road, Atlanta, Georgia, 30326. The consolidated financial statements are publicly available and can be found at: https://investors.globalpayments .com/financial -information.
11. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 7 October 2025 by Nicholas Anderson (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.
Page 12