ACCOUNTS - Final Accounts preparation

Registered number: 16229435

LUMEN CARDS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2026

LUMEN CARDS LIMITED

REGISTERED NUMBER: 16229435

STATEMENT OF FINANCIAL POSITION

AS AT 28 FEBRUARY 2026

		28 February 2026
Note		£

Fixed assets
Tangible assets	4		9,230
Current assets
Debtors	5	395,322
Cash at bank and in hand		819,607
		1,214,929
Creditors: amounts falling due within one year	6	(123,589)
Net current assets			1,091,340
Total assets less current liabilities			1,100,570
Creditors: amounts falling due after more than one year	7		(2,607,512)
Net liabilities			(1,506,942)

Capital and reserves
Called up share capital	8	1
Profit and loss account		(1,506,943)
		(1,506,942)

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LUMEN CARDS LIMITED

REGISTERED NUMBER: 16229435

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 28 FEBRUARY 2026

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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

S Hall

Director

Date: 22 October 2026

The notes on pages 3 to 7 form part of these financial statements.

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LUMEN CARDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2026

1.	General information

Lumen Cards Limited is a private company, limited by shares, incorporated and registered in England and Wales. The Company's registered number is 16229435 and registered office address is 3rd Floor, 86-90 Paul Street, London, United Kingdom, EC2A 4NE.

The Company was incorporated on 4 February 2025.

The principal activity of the Company is the provision of consumer credit and related financial services.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The directors have considered the working capital and funding required for the Company to continue as a going concern. The Company has the full support of, and funding available from its parent company and is in the process of arranging external financing to provide the liquidity required to grow the business sustainably. Therefore, the directors consider it to be appropriate for these financial statements to be prepared on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 Statement of Comprehensive Income within administrative expenses. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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LUMEN CARDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2026

2.Accounting policies (continued)

2.4

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

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.

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

3 years

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.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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LUMEN CARDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2026

2.Accounting policies (continued)

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its basic financial instruments.

Employees

The average monthly number of employees, including directors, during the period was 5.

4.	Tangible fixed assets

		Computer equipment
		£
	Cost
	Additions	10,931
	At 28 February 2026	10,931
	Depreciation
	Charge for the period	1,701
	At 28 February 2026	1,701
	Net book value
	At 28 February 2026	9,230

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LUMEN CARDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2026

Debtors

					2026
					£

	Other debtors	252,662
	Prepayments	142,660
		395,322

6.	Creditors: amounts falling due within one year
		2026
		£

	Trade creditors	19,662
	Other taxation and social security	70,808
	Accruals	33,119
		123,589

7.	Creditors: amounts falling due after more than one year
		2026
		£

	Loans from group undertakings	2,607,512

On 6 March 2025, the Company entered into a loan agreement with its parent undertaking, Neptune Holdings Investments Inc., under which the lender agreed to make available a loan facility of up to £500,000.

On 22 July 2025, the facility was increased to £3,000,000 and amended to permit the conversion of all or part of the outstanding balance into equity shares of the Company at the lender's option.

On 7 January 2026, the facility was further increased to £7,500,000. The agreement remains in force until terminated by mutual agreement or by the lender when no balance is outstanding.

The loan is unsecured and interest-free. Repayment is at the discretion of the lender, who is required to provide sufficient time for repayment to enable the Company to continue as a going concern and conduct its business in the ordinary course.

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LUMEN CARDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2026

8.	Share capital
		2026
		£

		Allotted, called up and fully paid

		1 Ordinary share of £1.00	1

The Company was incorporated on 4 February 2025. Upon incorporation, 1 ordinary share of £1.00 was issued and fully paid. The ordinary share carries full rights to vote, participate in dividends and participate in capital distributions.

9.	Commitments under operating leases
	At 28 February 2026 the Company had future minimum lease payments due under non-cancellable operating leases for the following period:
		2026
		£

Not later than 1 year

23,355

10.	Post balance sheet events

In July 2026, the Company made its consumer credit services available to public customers for the first time.

11.	Controlling party

The Company's immediate parent undertaking is Neptune Holdings Investments Inc., a company incorporated in the British Virgin Islands. The registered office address of Neptune Holdings Investments Inc. is Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, British Virgin Islands, VG1110.

The Company's ultimate controlling party is Mr B Turakhia.

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