Gross | Accumulated | Accumulated | Intangible | ||
Carrying | Amortization | Impairment | Assets, | Life | |
Amount | Net | ||||
Intangible assets | US$'000 | US$'000 | USS\u2019000 | US$'000 | |
Amortizing intangible assets: | |||||
Crypto License | 30 | (30) | - | 3 years | |
Software & Licenses | 108 | (108) | - | 3 years | |
Indefinite-lived intangible assets: | |||||
Goodwill | 1,815 | (838) | 977 | indefinite | |
Software & Licenses | 1,382 | (170) | 1,212 | indefinite | |
Neobanking platform | 1,016 | 1,016 | indefinite | ||
Digital Assets | 1,624 | (765) | 859 | indefinite | |
Trademarks | 6 | 6 | indefinite | ||
Total | 5,981 | (138) | (1,773) | 4,070 |
Gross | Accumulated | Accumulated | Intangible | ||
Carrying | Amortization | Impairment | Assets, | Life | |
Amount | Net | ||||
Intangible assets | US$'000 | US$'000 | USS\u2019000 | US$'000 | |
Amortizing intangible assets: | |||||
Crypto License | 30 | (30) | - | 3 years | |
Software & Licenses | 108 | (108) | - | 3 years | |
Indefinite-lived intangible assets: | |||||
Goodwill | 1,815 | (838) | 977 | indefinite | |
Software & Licenses | 1,382 | (170) | 1,212 | indefinite | |
Neobanking platform | 1,016 | 1,016 | indefinite | ||
Digital Assets | 1,624 | (765) | 859 | indefinite | |
Trademarks | 6 | 6 | indefinite | ||
Total | 5,981 | (138) | (1,773) | 4,070 |
2026 | 2025 | |
Revenue by geographical region | US$'000 | US$'000 |
(Restated) | ||
United Kingdom | - | 503 |
Europe | 569 | 638 |
United States of America | 30 | 286 |
Asia-Pacific | 834 | 1,034 |
Rest of the world | 22 | 356 |
Total Revenue | 1,455 | 2,817 |
2026 | 2025 | |
US$'000 | US$'000 | |
(Restated) | ||
Inventories | 5 | 13 |
16. Property, plant and equipment | |||||
Right-Of-Use | Furniture | ||||
Assets | Renovation | & Office | Software | Total | |
US$\u2019000 | US$\u2019000 | Equipment | US$\u2019000 | US$\u2019000 | |
Cost | US$\u2019000 | ||||
As at 01 April 2024 | 202 | 14 | 171 | - | 387 |
Additions / Transfer in | - | 3 | - | - | 3 |
Additions on acquisition of subsidiary | - | - | - | - | - |
Disposal / Write-off | (51) | - | (72) | - | (123) |
Reclassification | - | - | - | - | - |
As at 31 March 2025 | 151 | 17 | 99 | - | 267 |
Additions / Transfer in | - | - | 6 | - | 6 |
Disposal / Write-off | (151) | (17) | (13) | - | (181) |
As at 31 March 2026 | - | - | 92 | - | 92 |
30 November 2025 During the year, the lease agreement relating to the office premises of GS Fintech Pte. Ltd., a wholly owned subsidiary of GSTechnologies Limited, reached the end of its contractual term on | . | Upon expiry of the lease, the associated right-of-use asset and lease liability 17. Lease liabilities Derecognition of Lease Liability | |
were fully derecognised in accordance with IFRS 16 Leases, as there was no remaining right to | |||
use the underlying asset or obligation to make future lease payments. No material gain or loss | |||
arose on derecognition. | |||
Lease liabilities recognized in the balance sheet | |||
The balance sheet shows the following amounts relating to lease liabilities: | 2026 | 2025 | |
US$'000 | US$'000 | ||
(Restated) | |||
Current | - | 37 | |
Non-current | - | 65 | |
- | 102 |
2026 | 2025 | |
US$'000 | US$'000 | |
(Restated) | ||
Depreciation on ROU | - | 41 |
Interest expense on lease | - 3 | 6 |
- | 47 |
Place of | Proportion of | Proportion | |
Name of Subsidiary | Incorporation | Ownership | of Voting |
Interest (%) | Power (%) | ||
Golden Saint Technologies | Australia | 100 | 100 |
(Australia) Pty Ltd | |||
GS Fintech Ltd | UK | 100 | 100 |
GS Fintech Pte Ltd | Singapore | 100 | 100 |
GS Fintech UAB | Lithuania | 100 | 100 |
Angra Limited | UK | 100 | 100 |
Angra Global Limited | Canada | 100 | 100 |
Semnet Pte Ltd | Singapore | 66.66 | 66.66 |
Bake Fintech Pte Ltd | Singapore | 100 | 100 |
Angra Sp\u00f3\u0142ka z ograniczon\u0105 | Poland | 100 | 100 |
odpowiedzialno\u015bci\u0105 |
2026 | 2025 | |
US$'000 | US$'000 | |
(Restated) | ||
Current tax expense | - | 25 |
Adjustment in respect of prior years | (51) | (40) |
Total current tax credit | 51 | 15 |
Movement in provision for taxation: | ||
Opening provision at 1 March 2025 | 270 | 365 |
Current year tax expenses | - | 25 |
Forex exchange loss | - | 6 |
Tax paid during the year | - | (87) |
Prior year tax refund | (51) | (40) |
Revaluation of provision for taxation | (219) | 1 |
Provision for taxation | - | 270 |
2026 | 2025 | |
US$'000 | US$'000 | |
(Restated) | ||
(Loss) profit before taxation | (5,356) | (2,219) |
Tax credit at UK corporation tax rate of 25% | (1,339) | (555) |
Effect of different tax rate in foreign jurisdictions | - | 37 |
(Australia, Singapore, UK, Canada, Poland) | ||
Unutilised tax losses carried forward | 1,339 | 555 |
Temporary differences not recognised | - | 15 |
Other tax adjustments and prior year true-ups | (51) | (14) |
Taxation credit recognised in the financial statements | (51) | 38 |
2026 | 2025 | |
US$'000 | US$'000 | |
(Restated) | ||
Audit of the financial statements including local audits | 145 | 164 |
Audit-related assurance services* | 15 | 17 |
Tax compliance services* | 3 | 9 |
163 | 190 |
Entities | Quantity of | Percentage of |
Ordinary Shares | Ordinary Shares | |
Hargreaves Lansdown (Nominees) Limited | 484,608,192 | 20.84% |
Interactive Investor Services Nominees Limited | 353,138,098 | 15.19% |
Securities Services Nominees Limited | 308,036,376 | 13.25% |
HSDL Nominees Limited | 241,789,134 | 10.40% |
2026 | 2025 | |
US$'000 | US$'000 | |
(Restated) | ||
Rendering of services to parent company | - | 260 |
Rendering of services to related parties | - | 22 |
Loan to Director | - | 47 |
Professional fees paid to Director of a subsidiaries | 16 | - |
Administrative charges paid to a related company owned | 102 | - |
by an Executive Director | ||
Consultancy fees paid to a Non-Executive Director | 38 | - |
Cryptocurrency transaction processed through the Group's platform by an Executive Director | 9 | - |
166 | 329 | |
Professional fees represent services provided by Directors of certain subsidiaries in respect of operational, management and administrative support rendered to the Group. | ||
During the year, the Group also incurred administrative charges from a related company owned by an Executive Director. These charges related to administrative and corporate support services provided | ||
to the Group and were incurred on normal commercial terms. | ||
During the year, consultancy services were provided to the Group by Malcolm Groat, a Non-Executive | ||
Director of the Company, for which consultancy fees were charged on arm's length terms. | ||
During the year, Jack Bai, an Executive Director of the Company, processed a cryptocurrency | ||
transaction of USDT 8,500 through the Group's Bake platform in the ordinary course of business. The transaction was undertaken on the same commercial terms and conditions available to other customers, with no preferential pricing or terms. | ||
Loan to Director | ||
The Group had an outstanding loan receivable from a Non-Executive Director as at 31 March 2025. | ||
During the current financial year, the balance was fully settled by offset against Director's fees | ||
payable. No balance remained outstanding at 31 March 2026 (2025: US$47). Outstanding balances arising from related party transactions are unsecured, interest-free unless otherwise agreed, and are settled in cash or by agreed offset arrangements. No expected credit loss provision has been recognised in respect of amounts due from related parties (2025: nil), as Group considers the balances to be fully recoverable. |
Financial | Fair Value Hierarchy | Valuation Technique |
Instrument | Level | |
Bitcoin | Level 1 | Fair value based on quoted market prices from active |
exchanges (e.g., Coinbase, Binance) | ||
Treasury | Level 1 / Level 2 | Quoted market prices or observable market data for fixed |
Investments | income securities |
On | Less than | Three to | One to five | Total | |
Demand | three | twelve | years | ||
months | months | ||||
Trade and other payables | US$\u2019000 | US$\u2019000 | US$\u2019000 | US$\u2019000 | US$\u2019000 |
As of 31 March 2025 | 38,558 | 38,558 | |||
As of 31 March 2026 | 993 | 993 |