Startup Giants Plc - Interim Financial Statements to 30 June 2021
Announcement provided by
Startup Giants Plc · SUG30/09/2021 12:52
THE DIRECTORS OF STARTUP GIANTS PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 594/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. BY PUBLICATION OF THIS ANNOUNCEMENT, THE INFORMATION SET OUT WITHIN IT IS DEEMED NOW TO BE IN THE PUBLIC DOMAIN.
Startup Giants plc
(“Startup Giants” or the “Company”)
Interim Results for the six months period to 30 June 2021
Board Statement
Startup Giants plc is pleased to announce its unaudited interim results for the 6 months period from 1 January 2021 to 30 June 2021. The financial statements below have not been reviewed by the Company’s auditors.
Financial Results
Financial highlights for the period, extracted from the financial statements below, are:
| 30 June 2021 | 30 June 2020 | |
| Operational loss | £(3,858) | £(5,975) |
| Loss per share | ||
| Cash and cash equivalents | £956,364 | £682,289 |
| Shareholders’ funds | £644,792 | £628,571 |
Review of Business During the Period
In April 2021 the Company issued 237,891 new ordinary shares of
Startup Giants has continued to build on and strengthen its engagement model with its founders and delivery of its programmes, leveraging remote consulting and workshops in lieu of live events and meet-ups, that it introduced last year as a solution to work around the COVID situation.
The Company has introduced new technology further to improve the founder experience and is currently trialling a Startup Giants mobile application, made available on the Apple and Android app stores, for its founders to showcase their business concepts and to streamline the founders’ journey through the Startup Giants’ programmes and their early stages of growth.
Now with over 75 founders in the Startup Giants’ portfolio, the Company has continued to source a strong pipeline of new talented entrepreneurs with qualified innovative business concepts to bring to the domestic market.
Current Trading and Post Balance Sheet Developments
Current trading remains in line with the Directors’ expectations at the beginning of the second part of the 2021 financial year.
Outlook
The Company is evaluating a number of initiatives to build on the services it offers to its portfolio of founders. As well as continuing to provide programme support to founders in their early periods of strategy and growth, the Company has seen a noticeable increase in demand from founders to partner with the management and delivery on larger scale projects in areas of marketing, software development, and growth attainment.
Conclusion
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 year and beyond.
Jeb Buckler,
Chief Executive Officer,
Startup Giants plc
30th September 2021
Startup Giants plc
Statement of Comprehensive Income
Six months ended 30 June 2021
| Six months ended 30 June 2021 | Six months ended 30 June 2020 | |
| GBP | GBP | |
| Turnover | 215,427 | 44,082 |
| Administrative expenses | (219,285) | (50,057) |
| Operating loss | (3,858) | (5,975) |
| Finance costs | (184) | - |
| Loss before taxation | (4,042) | (5,975) |
| Taxation | - | - |
| Loss for the period | (4,042) | (5,975) |
| Earnings per share: | ||
| Basic and Diluted (pence) | (0.32)p | (0.59)p |
Startup Giants plc
Statement of Financial Position
As at 30 June 2021
| 30 June 2021 | 30 June 2020 | |
| GBP | GBP | |
| Non-current assets: | ||
| Goodwill | 19,584 | 24,584 |
| Property, plant and equipment | 1,042 | - |
| Investments | - | 40,000 |
| 20,626 | 64,584 | |
| Current assets: | ||
| Trade and other receivables | 69,074 | 49,058 |
| Cash and cash equivalents | 956,364 | 682,289 |
| 1,025,438 | 731,347 | |
| Current liabilities: | ||
| Trade and other payables | 376,689 | 142,180 |
| Bank borrowings | 5,000 | 25,000 |
| 381,689 | 167,180 | |
| Net current assets | 643,749 | 564,167 |
| Non-current liabilities | (19,583) | - |
| Net assets | 644,792 | 628,751 |
| Equity: | ||
| Called up share capital | 152,405 | 140,510 |
| Share premium account | 960,102 | 769,790 |
| Retained earnings | (467,715) | (281,549) |
| Total equity | 644,792 | 628,751 |
Startup Giants plc
Statement of Cash Flows
Six months ended 30 June 2021
| Six months ended 30 June 2021 | Six months ended 30 June 2020 | |
| GBP | GBP | |
| Loss for the year after tax | (4,042) | (975) |
| Adjustments for: | ||
| Amortisation of intangible assets | 2,553 | 2,500 |
| Interest expense | 184 | - |
| Movement in trade and other receivables | (38,095) | 1,566 |
| Movement in trade and other payables | 119,342 | 12,209 |
| Cash generated/(absorbed) by operations | 79,942 | 15,300 |
| Investing activities: | ||
| Purchase of property, plant and equipment | (1,096) | - |
| Financing activities: | ||
| Proceeds from issue of shares | 202,207 | - |
| Interest paid | (184) | - |
| Bank loan received | - | 25,000 |
| Bank loan repaid | (417) | - |
| Other loan repaid | (46) | - |
| Increase/(decrease) in cash and cash equivalents | 280,406 | 40,300 |
| Cash and cash equivalents at beginning of period | 675,958 | 641,989 |
| Cash and cash equivalents at end of period | 956,364 | 682,289 |
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 European Union.
This announcement has been made after due and careful inquiry and the Directors of Startup Giants plc accept responsibility for its content.
REGULATORY ANNOUNCEMENT ENDS
Enquiries:
Startup Giants plc
Cherry Martin; cherry@startupgiants.com +44 20 7 157 9764
Keith, Bayley, Rogers & Co Limited
Graham Atthill-Beck +44 7506 43 41 07
blackpearladvisers@gmail.com; Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 7776 30 22 28: Brinsley.Holman@kbrl.co.uk
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