(“Startup Giants” or the “Company”)
Results for the 11 Months Ended 31st
Startup Giants is pleased to present its audited financial statements for the eleven months from 1st
During the period under review, as presaged in the last Chairman’s Statement, the Company explored options to expand the pool of capital available for investment in start-ups within its B to C purview and examined a number of potential key partnerships. It also undertook consultancy work for early-stage entrepreneurs, which generated revenue of £58,539 (2017-18, £ nil) and resulted in the reduced net loss stated above, translating into a loss per share of
During the first quarter of 2018, the Company also applied for and was awarded the status of a
Current Trading and Post-Balance Sheet Developments
Trading during the current financial year to date has been in line with the Directors’ expectations at the beginning of the period. Since 1st
Startup Giants has also explored the ability to support entrepreneurs from non-EU countries to bring their IP to the
Looking ahead, the momentum for technology companies requiring investment at the seed stage should continue, with demand apparent for the Company’s accelerator model, which encompasses a delivery crew to support young start-ups with their technology and digital marketing strategies.
As it moves forwards with its next accelerator round, the Company will look to increase its portfolio of investee companies. Few competitors specialise in sourcing promising consumer start-ups at the pre-seed stage and the Directors believe Startup Giants is on track to build its portfolio by sourcing new investments over the coming year from among many available opportunities.
Having identified an innovative methodology for acquiring minority interests in highly prospective founders’ businesses, Startup Giants will focus on its next stage of growth by increasing its portfolio investments and providing the technology and marketing services to support these investee companies.
Startup Giants is one of the pioneers in the
Annual General Meeting (“AGM”)
The Company’s AGM will be held at 11.00 a. m. BST on Wednesday 26th
I wish to thank my Board colleagues and the shareholders for their support and I look forward to reporting on future developments as and when this is appropriate.
Jeb Buckler, Chairman and Chief Executive Officer
STARTUP GIANTS PLC STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 DECEMBER 2018 Period Year ended ended 31 December 31 January 2018 2018 Notes £ £ Revenue 2 58,539 - Gross profit 58,539 - Administrative expenses (109,344) (71,753) Operating loss 3 (50,805) (71,753) Income tax expense - - Loss and total comprehensive income for the period 15 (50,805) (71,753) Earnings per share 7 Basic (5.03) (7.17) Diluted (5.03) (7.17) Earnings per share from continuing operations Basic (5.03) (7.17) Diluted (5.03) (7.17)
The income statement has been prepared on the basis that all operations are continuing operations.
STARTUP GIANTS PLC STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2018 31 December 31 January 2018 2018 £ £ Notes Non-current assets Goodwill 8 32,084 36,667 Investments 9 40,000 40,000 72,084 76,667 Current assets Trade and other receivables 10 76,750 54,440 Cash and cash equivalents 646,453 686,202 723,203 740,642 Total assets 795,287 817,309 Current liabilities Trade and other payables 12 75,010 46,227 Net current assets 648,193 694,415 Total liabilities 75,010 46,227 Net assets 720,277 771,082 Equity Called up share capital 13 140,510 140,510 Share premium account 14 769,790 769,790 Retained earnings 15 (190,023) (139,218) Total equity 720,277 771,082
The financial statements were approved by the board of directors and authorised for issue on
Company Registration No. 09690364
STARTUP GIANTS PLC STATEMENT OF CHANGES IN EQUITYFOR THE PERIOD ENDED
31 DECEMBER 2018Total Share capital Share premium Retained earnings account Notes £ £ £ £ Balance at 1 100,000 - (67,465) 32,535 February 2017 Year ended 31 January 2018: Loss and total - - (71,753) (71,753) comprehensive income for the year Issue of share 13 40,510 769,790 - 810,300 capital Balance at 31 140,510 769,790 (139,218) 771,082 January 2018 Period ended 31 December 2018: Loss and total - - (50,805) (50,805) comprehensive income for the period Balance at 31 140,510 769,790 (190,023) 720,277 December 2018
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED
Notes Period ended 31 Year ended 31 January December 2018 2018 £ £ £ Cash flows from 19 (39,749) (93,051) operating activities Cash absorbed by operations Net cash outflow from (39,749) (93,051) operating activities Investing activities - Purchase of investments (40,000) Net cash used in - (40,000) investing activities Financing activities Proceeds from issue of - 810,300 shares Net cash (used in)/generated from - 810,300 financing activities Net (decrease)/increase (39,749) 677,249 in cash and cash equivalents Cash and cash 686,202 8,953 equivalents at beginning of year Cash and cash 646,453 686,202 equivalents at end of year
This announcement has been made after due and careful enquiry and the Directors of
REGULATORY ANNOUNCEMENT ENDS
Notes for Editors:
The Company at a Glance
The Company’s revenue model is principally to realise investment gains through portfolio divestments by using the skill and experience of its executive management, supported by the non-executive Directors and investment advisory panel, to identify and mentor technology start-ups with the potential for significant growth. The Company may also provide a range of services to its portfolio companies relating to mentoring and delivery of technology and digital marketing.
The Company made a net loss for the year of £50,805. At the year end, the Company had net assets of £720,227.