(“Startup Giants” or the “Company”)
Results for the 11 Months Ended 31st
Introduction
Startup Giants is pleased to present its audited financial statements for the eleven months from 1st
Review
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
Outlook
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
Conclusion
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
V Filmer-Sankey
Director
Company Registration No. 09690364
STARTUP GIANTS PLC
STATEMENT OF CHANGES IN EQUITYFOR THE PERIOD ENDED 31 DECEMBER 2018
Total
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
Enquiries:
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.
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