Goods & Services Technology Limited

(Registration number: 14856871)

Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	10,167	14,374
Current assets
Debtors	6	13,533	29,263
Cash at bank and in hand		16,415	27,210
		29,948	56,473
Creditors: Amounts falling due within one year	7	(201,882)	(252,105)
Net current liabilities		(171,934)	(195,632)
Net liabilities		(161,767)	(181,258)
Capital and reserves
Called up share capital		10	10
Retained earnings		(161,777)	(181,268)
Shareholders' deficit		(161,767)	(181,258)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2026 and signed on its behalf by:
 

......................................... Mr R A Brown Director

Goods & Services Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The company was formerly known as Blueriver Technology Limited.

The address of its registered office is:
27 Old Gloucester Street
London
WC1N 3AX
United Kingdom

These financial statements were authorised for issue by the Board on 22 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from that standard.

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 represents the value of consideration for goods and services provided stated net of 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 charge or credit 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.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Goods & Services Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Employee benefits

Short-term employee benefits, including holiday pay, are charged to profit or loss in the period in which they are incurred.

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.

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
Office equipment	25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods and services provided 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Goods & Services Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to profit or loss over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Goods & Services Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments
 

Classification
The following assets and liabilities are classified as basic financial instruments; cash, trade debtors, other debtors (excluding prepayments), accrued income, trade creditors, accruals, bank and other borrowings.

 Recognition and measurement
The recognition and measurement of these financial instruments is as described under the relevant section within this note on accounting policies. Except as disclosed elsewhere within this note basic financial instruments are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment.

 Impairment
Financial assets that are measured at 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 profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, under a written or implied contract of service, was 14 (2023 - 9).

4

Taxation

Deferred tax

There are £160,157 of unused tax losses (2023 - £179,648) for which no deferred tax asset is recognised in the Balance Sheet.

A deferred tax asset has not been recognised because its recoverability cannot be assessed with sufficient certainty

Goods & Services Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	16,828	16,828
At 31 December 2024	16,828	16,828
Depreciation
At 1 January 2024	2,454	2,454
Charge for the year	4,207	4,207
At 31 December 2024	6,661	6,661
Carrying amount
At 31 December 2024	10,167	10,167
At 31 December 2023	14,374	14,374

6

Debtors

	2024 £	2023 £
Other debtors	3,352	28,915
Prepayments	10,181	348
	13,533	29,263

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	11,910	79,619
Taxation and social security	47,299	105,384
Accruals and deferred income	14,652	22,950
Other creditors	128,021	44,152
	201,882	252,105

8	Non adjusting events after the financial period

On 28 January 2025 the entire issued share capital in the company was acquired by BRHC, Inc., a company incorporated in the United States.

Goods & Services Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Related party transactions

During the year the company made sales to BRHC, Inc. of £2,318,411 (2023 - £929,641). All sales were made on an arm's length basis.

The amount of £128,021 (2023 - £42,664) owed to BRHC, Inc. at 31 December 2024 has not been disclosed within these financial statements as owed to a related party but included within other creditors. The loan is non-interest bearing and repayable upon demand.