(“Startup Giants” or the “Company”)
Interim Results for the six-months’ period to
Startup Giants is pleased to announce its unaudited interim results for the six-months’ period from
The key financial data for the period, extracted from the financial statements below, are: operational loss – £(45,893); loss per share –
Review of Business During the Period
When the Company reported its results for the last financial year it said that, as it moved forward with its next accelerator round, it would focus on forging key partnerships.
During the period under review, the Startup Giants has solidified a relationship with Exponential Events. This partnership spans event management and the provision of a platform for sourcing new capital both for the Company and for direct, third-party investment into Startup Giants’ investee companies. The Directors believe that outsourcing the investor event management will allow the Company to concentrate on scaling-up the number of early-stage companies coming through its accelerator round, thus providing a greater range of prospective candidates to a third-party investor audience for direct investment. Following the publication of these interim results, Startup Giants will itself embark upon a capital raising via the Exponential Events’ platform.
Current trading remains in line with the Directors’ expectations at the beginning of the second part of financial 2018.
Post- Balance Sheet Event
The Company announced on 8th
Startup Giants expects in the near future to make additions to its
The Directors would like to thank shareholders for their support during the period under review and look forward to informing them of developments at Startup Giants during the remainder of the current financial period and into the future.
Chief Executive Officer
Statement of Comprehensive Income
Six months ended
(Financial data for the comparative period to
Six months ended 31 July Year ended 31 January 2018 2018 GBP GBP Administrative expenses (45,893) (71,753) Operating loss (45,893) (71,753) Taxation - - Loss for the period (45,893) (71,753) Earnings per share: Basic and Diluted (pence) (4.5)p (7.1)p
Statement of Financial Position
31 July 2018 31 January 2018 GBP GBP Non-current assets: Goodwill 34,167 36,667 Investments 40,000 40,000 74,167 76,667 Current assets: Trade and other receivables 68,636 54,440 Cash and cash equivalents 665,033 686,202 733,669 740,642 Total assets 807,836 817,309 Current liabilities: Trade and other payables 82,647 46,227 Net current assets 651,022 694,415 Total liabilities 82,647 46,227 Net assets 725,189 771,082 Equity: Called up share capital 140,510 140,510 Share premium account 769,790 769,790 Retained earnings (185,111) (139,218) Total equity 725,189 771,082
Statement of Cash Flows
Six months ended
Six months ended 31 July Year ended 31 January 2018 2018 GBP GBP Loss for the year after tax (45,893) (71,753) Adjustments for: Amortisation of intangible 2,500 5,000 assets Movement in trade and other (14,196) (54,440) receivables Movement in trade and other 36,420 28,142 payables Cash absorbed by operations (21,169) (93,051) Investing activities: Purchase of investments - (40,000) Financing activities: Proceeds from issue of - 810,300 shares (Decrease)/increase in cash (21,169) 677,249 and cash equivalents Cash and cash equivalents at 686,202 8,953 beginning of period Cash and cash equivalents at 665,033 686,202 end of period
The financial information set out above has not been reviewed or audited by the Company’s auditors.
The financial information set out above has been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the
This announcement has been made after due and careful enquiry and the Directors of