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Registered number: 10519449 BLUE MATTER CONSULTING LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
BLUE MATTER CONSULTING LIMITED REGISTERED NUMBER: 10519449 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 463,494 |  | 20,808
Current assets |  |  |  |  |
Debtors | 5 | 3,083,190 |  | 1,905,991 |
Cash at bank and in hand |  | 2,285,234 |  | 258,541 |
|  | 5,368,424 |  | 2,164,532 |
Creditors: amounts falling due within one year | 6 | (4,069,625) |  | (1,098,995) |
Net current assets |  |  | 1,298,799 |  | 1,065,537
Creditors: amounts falling due after more than one year | 7 |  | (49,248) |  | -
Provisions for liabilities |  |  |  |  |
Deferred tax | 8 |  | (54,476) |  | -
Net assets |  |  | 1,658,569 |  | 1,086,345
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 10 |  | 10
Profit and loss account |  |  | 1,658,559 |  | 1,086,335
|  |  | 1,658,569 |  | 1,086,345
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 income and retained earnings 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:
G Schmidt
Director
Date: 22 April 2026
The notes on pages 2 to 8 form part of these financial statements. Page 1
BLUE MATTER CONSULTING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Blue Matter Consulting Limited is a private company limited by shares, incorporated in England and Wales. The registered office is Third Floor, St Andrews House, 18-20 St Andrew Street, London, EC4A 3AG. The financial statements are presented in sterling which is the functional currency of the company. 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 financial statements have been prepared on the going concern basis which assumes the normal continuity of business for the foreseeable future. The directors have considered the results of the company, their expectation that the company will continue providing consultancy advice and services to the parent company and the expected trading outlook of the parent company for the foreseeable future. Based upon this review, and assurances they have obtained from the parent company as to the continued operational and financial support, they consider the company will remain a going concern for the foreseeable future, being a period of at least twelve months from the date of approval of the financial statements. Accordingly, the directors consider it remains appopriate to prepare the financial statements on the going concern basis.
| 2.3 | Revenue
Revenue represents amounts receivable from the ultimate parent undertaking during the period, for the provision of sales, marketing and consultancy support functions, exclusive of Value Added Tax. Revenue in respect of services provided to the ultimate parent company is calculated as attributable costs plus a mark up in accordance with a transfer pricing agreement between Blue Matter Consulting Limited and Blue Matter LLC, the parent company.
| 2.4 | 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.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 2
BLUE MATTER CONSULTING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | 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.
| 2.8 | 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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
BLUE MATTER CONSULTING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | 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 corporation 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.10 | 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:
|  |  |  | Short-term leasehold property | - | 5 year straight line
|  |  |  | Fixtures and fittings | - | 3 years straight line
|  |  |  | Office equipment | - | 3 years 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.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 4
BLUE MATTER CONSULTING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price.
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 32 (2024 - 27).
Page 5
BLUE MATTER CONSULTING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Short-term leasehold property | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 January 2025 | 114,680 | 83,490 | 69,376 | 267,546
| Additions | 390,486 | 62,744 | 28,762 | 481,992
| Disposals | (114,680) | - | - | (114,680)
| At 31 December 2025 | 390,486 | 146,234 | 98,138 | 634,858
| Depreciation |  |  |  |
| At 1 January 2025 | 112,302 | 76,234 | 58,202 | 246,738
| Charge for the year on owned assets | 18,169 | 7,883 | 11,838 | 37,890
| Disposals | (113,264) | - | - | (113,264)
| At 31 December 2025 | 17,207 | 84,117 | 70,040 | 171,364
| Net book value |  |  |  |
| At 31 December 2025 | 373,279 | 62,117 | 28,098 | 463,494
| At 31 December 2024 | 2,378 | 7,256 | 11,174 | 20,808
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 276,025 | -
| Due within one year |  |
| Amounts owed by group undertakings | 2,357,393 | 1,665,713
| Other debtors | 267,181 | 146,445
| Prepayments and accrued income | 182,591 | 80,605
| Deferred taxation | - | 13,228
|  | 3,083,190 | 1,905,991
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BLUE MATTER CONSULTING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 28,210 | 23,689
| Other taxation and social security | 2,298,669 | 180,374
| Other creditors | 19,270 | 15,716
| Accruals and deferred income | 1,723,476 | 879,216
|  | 4,069,625 | 1,098,995
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accruals and deferred income | 49,248 | -
8. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 13,228
| Charged to profit or loss | (67,704)
| At end of year | (54,476)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (54,476) | 13,228
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 - 100) Ordinary shares of £0.10 each | 10 | 10
Page 7
BLUE MATTER CONSULTING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Share-based payments
| In the year, the Blue Matter Consulting LLC, the parent undertaking, issued Class W common units to Blue Matter Incentive, LLC in which some employees have an interest. These units shall vest only upon a sale of the Blue Matter Consulting LLC. No share based payment charge is recognised since it is not considered more likely than not, at the Balance Sheet date, that the vesting criteria will be met. At 31 December 2025, 296,129 (2024 - 258,464) units had been issued for which employees of the company had an interest.
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £296,695 (2024 - £232,865). Contributions of £NIL (2024 - £10,309) were payable to the fund at the balance sheet date.
12. | Related party transactions
| The company has taken advantage of the exemption from disclosing group transactions under FRS102 - Section 1A.
13. | Parent company
The immediate parent undertaking is Blue Matter Consulting LLC, a corporation registered in the United States of America and with its registered office at 400 Oyster Point Blvd, Suite 309, South San Fransisco, CA 94080. The ultimate parent undertaking is Blue Matter Holdings, LLC, a corporation registered in the United States of America, in Delaware.
14. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 22 April 2026 by Andrew Booth (Senior Statutory Auditor) on behalf of Price Bailey LLP.
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