Blue Star Capital

BLU · AIM · Financial Services · mcap £2.0m · 4.0p

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Financials · LTM to 31 Mar 26

Source: results 30 Jun 26 ↗

Revenue: –
Operating profit: −£1.1m
Net income: −£1.1m
Free cash flow: −£246k
Net cash: £80k
Market cap: £2.0m
EV / EBIT: –
FCF yield: −12.0%
Price / book: 0.9×

Latest half-year · H1 Mar 26 vs H1 Mar 25 results 30 Jun 26 ↗

Revenue: £0k
Operating profit: −£577k
Net income: −£576k
Cash from operations: −£115k

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest interim Latest annual

Half-year Results, published 30 Jun 26 · read the announcement ↗

Statement of Comprehensive Income · for the six months ended 31 March 2026 · Unaudited Audited · Six months ended 31 March Year ended 30 September

	2026 £	2025 £	2024 £
Revenue	-	-	-
Fair valuation movements in financial instruments designated at fair value through profit or loss	2,402	(1,014)	(346,928)
	2,402	(1,014)	(346,928)
Loss on settlement of loan receivable	(440,058)	-	-
Share based payment	(40,248)	(42,064)	(126,700)
Administrative expenses	(98,672)	(64,739)	(193,257)
Operating loss	(576,576)	(107,817)	(666,885)
Finance income	298	187	1,279
Loss before and after taxation and total comprehensive income for the period	(576,278)	(107,630)	(665,606)
Loss per ordinary share
Basic and diluted loss per share	(1.21p)	(0.37p)	(1.93p)

Statement of Financial Position · as at 31 March 2026 · Unaudited Audited · Six months ended 31 March Year ended 30 September

	2026 £	2025 £	2025 £
Non-current assets
Financial assets at fair value through profit or loss	2,250,100	1,032,384	1,553,643
	2,250,100	1,032,384	1,553,643
Current assets
Loan receivable	-	-	1,015,246
Trade and other receivables	19,576	15,622	11,252
Cash and cash equivalents	79,698	30,209	313,236
	99,274	45,831	1,339,734
Total assets	2,349,374	1,078,215	2,893,377
Current liabilities
Trade and other payables	19,509	34,400	27,482
Total liabilities	19,509	34,400	27,482
Net assets	2,329,865	1,043,815	2,865,895
Shareholders' equity
Share capital	47,554	33,814	47,554
Share premium account	11,920,403	9,738,722	11,920,403
Deferred shares	5,067,309	4,967,310	5,067,309
Other reserves	166,948	285,312	126,700
Retained earnings	(14,872,349)	(13,981,343)	(14,296,071)
	2,329,865	1,043,815	2,865,895

Statement of cash flows · for the six months ended 31 March 2026 · Unaudited Audited · Six months ended 31 March Year ended 30 September

	2026 £	2025 £	2025 £
Operating activities
Loss for the period	(576,278)	(107,630)	(665,606)
Adjustments for
Finance income	(298)	(187)	(1,279)
Fair value gains/(losses)	(2,402)	1,014	346,928
Loss on settlement of loan receivable	440,058	-	-
Share based payment	40,248	42,064	126,700
Working capital adjustments
Increase in trade and other receivables	(8,324)	(12,314)	(7,943)
Decrease in trade and other payables	(7,973)	(7,749)	(14,667)
Net cash used in operating activities	(114,969)	(84,802)	(215,867)
Investing activities
Purchase of safe note 1	(218,996)	(63,004)	(63,004)
Loan given to SatoshiPay	-	-	(1,000,000)
Loan repayment received from SatoshiPay	100,129	-	-
Interest received	298	187	1,279
Net cash used in investing activities	(118,569)	(62,817)	(1,061,725)
Financing activities
Proceeds from issue of equity	-	172,000	1,585,000
Net cash generated from financing activities	-	172,000	1,585,000
Net increase/(decrease) in cash and cash equivalents	(233,538)	24,381	307,408
Cash and cash equivalents at beginning of the period	313,236	5,828	5,828
Cash and cash equivalents at end of the period	79,698	30,209	313,236

Final Results, published 27 Feb 26 · read the announcement ↗

Statement of Comprehensive Income · For the year ended 30 September 2025

	2025 £	2024 £
Revenue	-	-
Loss on disposal of investments	-	(17,536)
Fair valuation movements in financial instruments designated at fair value through profit or loss	(346,928)	(4,312,519)
	(346,928)	(4,330,055)
Share based payments	(126,700)	-
Administrative expenses	(193,257)	(162,309)
Operating loss	(666,885)	(4,492,364)
Finance income	1,279	398
Loss before and after taxation and total comprehensive loss for the year	(665,606)	(4,491,966)
Loss per ordinary share
Basic loss per share on loss for the year	(1.93p)	(0.09p)
Diluted loss per share on loss for the year	(1.93p)	(0.09p)

Statement of Financial Position · For the year ended 30 September 2025

	2025 £	2024 £
Non-current assets
Financial assets at fair value through profit or loss	1,553,643	970,394
Total non-current assets	1,553,643	970,394
Current assets
Loan receivable	1,015,246	-
Trade and other receivables	11,252	3,308
Cash and cash equivalents	313,236	5,828
Total current assets	1,339,734	9,136
Total assets	2,893,377	979,530
Current liabilities
Trade and other payables	27,482	42,149
Total liabilities	27,482	42,149
Net assets	2,865,895	937,381
Shareholders' equity
Share capital	47,554	4,992,774
Share premium account	11,920,403	9,575,072
Deferred shares	5,067,309	-
Other reserves	369,948	243,248
Retained earnings	(14,539,319)	(13,873,713)
Total shareholders' equity	2,865,895	937,381

Cash Flow Statement · For the year ended 30 September 2025

	2025 £	2024 £
Operating activities
Profit/(loss) for the year	(665,606)	(4,491,966)
Adjustments
Finance income	(1,279)	(398)
Fair value losses	346,928	4,312,519
Loss on disposal of investments	-	17,536
Share based payment	126,700	-
Working capital adjustments
(Increase)/decrease in trade and other receivables	(7,943)	3,151
(Decrease)/increase in trade and other payables	(14,667)	10,073
Net cash used in operating activities	(215,867)	(149,085)
Investing activities
Proceeds from sale of investments	-	51,660
Purchase of convertible loan note	-	(60,303)
Purchase of safe note	(63,004)	-
Loan given to SatoshiPay	(1,000,000)	-
Interest received	1,279	398
Net cash used in investing activities	(1,061,725)	(8,245)
Financing activities
Proceeds from issue of shares (net)	1,585,000	100,000
Net cash generated from financing activities	1,585,000	100,000
Net decrease in cash and cash equivalents	307,408	(57,330)
Cash and cash equivalents at start of the year	5,828	63,158
Cash and cash equivalents at end of the year	313,236	5,828

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 Mar 26 (six months to 31 Mar 26), published 30 Jun 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Mar 26	FY Sep 25	FY Sep 24
Revenue to operating profit
Operating profit	(1.1)	(0.7)	(4.5)
Share-based payments	(0.1)	(0.1)	–
Operating profit to net income
Fair value gains / losses	(0.3)	(0.3)	(4.3)
Profit before tax	(1.1)	(0.7)	(4.5)
Net income (owners)	(1.1)	(0.7)	(4.5)
Per share
EPS basic	(2.8p)	(1.9p)	(0.1p)
EPS diluted	(2.8p)	(1.9p)	(0.1p)

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Revenue to operating profit
Revenue	0.0	n/m	–	0.0
Exceptional / adjusting items	(0.4)	n/m	–	0.0
Operating profit	(0.6)	n/m	(0.6)	(0.1)
Share-based payments	(0.0)	n/m	(0.1)	(0.0)
Operating profit to net income
Fair value gains / losses	0.0	n/m	(0.3)	(0.0)
Profit before tax	(0.6)	n/m	(0.6)	(0.1)
Net income (owners)	(0.6)	n/m	(0.6)	(0.1)
Per share
EPS basic	(1.2p)	–	(1.6p)	(0.4p)
EPS diluted	(1.2p)	–	(1.6p)	(0.4p)

	LTM Mar 26	FY Sep 25	FY Sep 24
Operating activities
Cash from operations	(0.2)	(0.2)	(0.1)
Financing activities
Shares issued	1.4	1.6	0.1

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Operating activities
Cash from operations	(0.1)	n/m	(0.1)	(0.1)
Financing activities
Shares issued	0.0	n/m	1.4	0.2

	Latest Mar 26	FY Sep 25	FY Sep 24
Non-current assets
Other investments	2.3	1.6	–
Non-current assets	2.3	1.6	1.0
Current assets
Trade receivables	0.0	0.0	0.0
Cash	0.1	0.3	0.0
Current assets	0.1	1.3	0.0
Total assets	2.3	2.9	1.0
Current liabilities
Trade payables	0.0	0.0	0.0
Current liabilities	0.0	0.0	–
Non-current liabilities
Non-current liabilities	0.0	0.0	–
Total liabilities	0.0	0.0	0.0
Equity
Total equity	2.3	2.9	0.9
Net cash and other figures
Net asset value	–	2.9	0.9

	H1 Mar 26	H2 Sep 25	H1 Mar 25	H2 Sep 24
Non-current assets
Other investments	2.3	1.6	1.0	–
Non-current assets	2.3	1.6	1.0	1.0
Current assets
Trade receivables	0.0	0.0	0.0	0.0
Cash	0.1	0.3	0.0	0.0
Current assets	0.1	1.3	0.0	0.0
Total assets	2.3	2.9	1.1	1.0
Current liabilities
Trade payables	0.0	0.0	0.0	0.0
Current liabilities	0.0	0.0	0.0	–
Non-current liabilities
Non-current liabilities	0.0	0.0	0.0	–
Total liabilities	0.0	0.0	0.0	0.0
Equity
Total equity	2.3	2.9	1.0	0.9
Net cash and other figures
Net asset value	–	2.9	–	0.9

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.