Company registration number 09188754 (England and Wales)
CARD SAVER LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
CARD SAVER LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 11
CARD SAVER LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
5
112,743
129,629
Tangible assets
6
400,430
604,865
513,173
734,494
Current assets
Debtors
7
737,062
604,116
Cash at bank and in hand
236,161
602,621
973,223
1,206,737
Creditors: amounts falling due within one year
8
(725,533)
(1,135,555)
Net current assets
247,690
71,182
Net assets
760,863
805,676
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
760,763
805,576
Total equity
760,863
805,676

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 6 July 2026
J R Pilley
Director
Company registration number 09188754 (England and Wales)
CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
1
Accounting policies
Company information

Card Saver Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Fleetwood Town Football Club, Park Avenue, Fleetwood, FY7 6TX.

1.1
Reporting period

The comparative accounting period was shortened to a 11 month period, from 3 1 October 202 4 to 3 0 September 202 4, in order to align with fellow group companies. Consequently, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future, based on financial support provided by both group and related companies. true

As at 30 September 2025, the company owed fellow group companies £495,427 (2024: £935,452). These balances are included within creditors: amounts falling due with one year, on the basis that there are no formal loan agreements and therefore by default are deemed to be repayable upon demand. This is despite the practical assurance received that these group and related company balances will not be sought for repayment until cash flow permits.

The directors have considered the future profitability of certain profitable, trading group companies and their ability to financially support the company and are satisfied that adequate resources are available, enabling this company to continue as a going concern. Based on financial forecasts and budgets set for 2025/26, the directors are satisfied that, for the foreseeable future, the company can meet its projected working capital requirements. Implicit within these projections is the assumption that there will be continued support from group companies. Consequently, the financial statements have been prepared on a going concern basis.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover generated from the use of card terminals is recognised when the turnover can be measured reliably, it is probable that the economic benefits, associated with the card transactions processed, will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover relates to the use of card terminals based upon usage and recognised in the period the card transactions are processed.

CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
10% p.a straight line basis
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% p.a. straight line basis
Fixtures and fittings
25% p.a. reducing balance basis
Computers
33.3% p.a. straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 6 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation of tangible fixed assets

The useful economic life of tangible fixed assets has to be estimated by the directors of the company to ensure an appropriate depreciation charge is recognised in the year. The value of the assets ultimately depends on the condition of the assets and whether economic income can be derived from the asset. The directors undertake a periodic review of the assets to ensure the value of the assets is fairly stated within the financial statements.

During the year, depreciation of £325,922 (2024: £423,211) has been charged.

Refer to note 6 for the carrying value of tangible fixed assets impacted by this key estimate.

Provision for bad and doubtful debts

Trade debtors are stated net of a provision for bad or doubtful debts.

Provisions for bad or doubtful debts are recognised when recovery is uncertain, considering the age of the debt and recoverability trends based on actual payments received at the assessment date.

At the balance sheet date, the directors have included a bad debt provision of £659,783 (202 4: £2,135,048).

Refer to note 7, for the trade debtor balance impacted by this key accounting estimate.

CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
3
Prior period adjustment
Reconciliation of changes in equity
1 November
30 September
2023
2024
Notes
£
£
Adjustments to prior year
Deferred income recognition
1
-
(85,916)
Bad debt provision recognition
2
-
(261,880)
Total adjustments
-
(347,796)
Equity as previously reported
2,590,613
1,153,472
Equity as adjusted
2,590,613
805,676
Reconciliation of changes in loss for the previous financial period
2024
Notes
£
Adjustments to prior year
Deferred income recognition
1
(85,916)
Bad debt provision recognition
2
-
Loss as previously reported
(437,141)
Loss as adjusted
(523,057)
Notes to reconciliation
Deferred income recognition

A prior period adjustment has been processed to correctly recognise commission income over the lengths of the contracts entered into.

Turnover has been decreased by £85,916 to reflect the income that should have been deferred as at 30 September 2024, accordingly other creditors due within one year have increased by £85,916.

The prior period adjustment has therefore reduced profit and net assets as at 30 September 2024 by £85,916.

Bad debt provision recognition

A prior period adjustment has been processed to correctly recognise a bad debt provision of £261,880. in respect of a historical trade debtor balance, which was known to be under dispute and was unlikely to be paid. The bad debt provision should have been recognised historically prior to 1 November 2023, being the opening comparative date.

This prior year adjustment has reduced trade debtors at 30 September 2024 by £261,880, with a corresponding increase in retained losses brought forward at 1 November 2023.

The prior period adjustment has increased net liabilities at both 1 November 2023 and 30 September 2024 by £261,880.

CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
22
13
5
Intangible fixed assets
Other
£
Cost
At 1 October 2024 and 30 September 2025
168,861
Amortisation and impairment
At 1 October 2024
39,232
Amortisation charged for the year
16,886
At 30 September 2025
56,118
Carrying amount
At 30 September 2025
112,743
At 30 September 2024
129,629
CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 9 -
6
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 October 2024
2,042,240
62,376
-
0
2,104,616
Additions
117,823
-
0
3,664
121,487
At 30 September 2025
2,160,063
62,376
3,664
2,226,103
Depreciation and impairment
At 1 October 2024
1,446,879
52,872
-
0
1,499,751
Depreciation charged in the year
323,139
2,376
407
325,922
At 30 September 2025
1,770,018
55,248
407
1,825,673
Carrying amount
At 30 September 2025
390,045
7,128
3,257
400,430
At 30 September 2024
595,361
9,504
-
0
604,865
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
222,754
(18,921)
Amounts owed by group undertakings
428,361
428,645
Other debtors
85,947
194,392
737,062
604,116
8
Creditors: amounts falling due within one year
As restated
2025
2024
£
£
Trade creditors
21,977
89,689
Amounts owed to group undertakings
495,427
935,452
Taxation and social security
17,626
12,994
Other creditors
190,503
97,420
725,533
1,135,555
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Caroline Snape
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
6 July 2026
11
Financial commitments, guarantees and contingent liabilities

As at 30 September 2024 (prior year balance sheet date), trade creditors included £621,361 in respect of goods acquired from a supplier. Payment of the liability was in dispute due to faulty goods supplied. Based on legal advice received, the liability was not to be paid and as such the Director historically recognised a contingent asset of £593,064, in recognition of a pending supplier credit note. This supplier credit note was not received or processed.

At 30 September 2025, £593,064 of the liability is time-statue barred and is no longer legally payable, and as such the trade creditor balance and the associated contingent asset have been released. At 30 September 2025, trade creditors includes £28,297 with a corresponding contingent asset recognised in lieu of a pending supplier credit note.

12
Related party transactions

The company has taken advantage of the exemption available in accordance with FRS 102 section 33.1A 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

During the year, the company recognised interest receivable of £Nil (202 4: £6,520) from CX International (Pty) Ltd, a former related company under common control, now a group company. The historic loan attracts interest at a rate of 5% p.a. Prior to the year-end, the Director agreed this balance was not recoverable and therefore a full impairment of £145,363 was processed. This impairment is included within exceptional items (note 4). At the balance sheet date, no balance (2024: £138,843 - other debtors) is owed from CX International (Pty) Ltd.

During the year, the company incurred administrative expenses of £672 (202 4: £1 2,000), from Fleetwood Wanderers Limited, a company under common control. At the balance sheet date there is no balance owed (2024: £Nil).

CARD SAVER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
13
Parent company

The immediate parent company is East Pine s Energy Investments L imi t e d and the ultimate parent company is East Pines Holdings Ltd. Both companies are registered in England and Wales.

Card Saver Ltd is consolidated within East Pines Holdings Ltd's group financial statements and copies can be obtained upon request from the group's registered office, Parkside Stand, Fleetwood Town Football Club, Park Avenue, Fleetwood, Lancashire, FY7 6TX.

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