Startup Giants Plc - Full-year Audited Financial Statements
Announcement provided by
Startup Giants Plc · SUG04/06/2020 08:00
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY STARTUP GIANTS TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
(“Startup Giants” or the “Company”)
Results for the Year Ended
Board Statement
The Directors are pleased to present the audited financial statements for Startup Giants for the year ended 31st
Highlights
During the last financial year the Company explored options to expand the number of start-ups looking for potential investment using key partnerships and has secured several key partnerships that participate with the introduction and validation of potential investment opportunities as well as providing additional support services in areas of marketing and technology. It also undertook consultancy work for early-stage entrepreneurs, which generated revenue of £45,256 (2018, £58,539) and resulted in a net loss of £85,551 (2018, £50,805), translating into a loss per share of
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
Startup Giants has also been approved by the Home Office as an Endorsing Body for the Innovator Route and Start-up Route visa categories, with its profile now published on the Government website. This enables the Company to source investment opportunities globally; and directly to support foreign entrepreneurs from non-EU countries to bring their innovations 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 encompass a delivery crew to support young start-ups with their technology and digital marketing strategies.
The Company has a provisional allocation of 25 endorsements from the
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 of foreign innovators and supporting these investee companies with necessary technology and marketing services.
Startup Giants is one of the pioneers in the
Chairman,
3rd
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED
2019 2018
Notes £ £
Revenue 2 45,256 58,539
---------- ----------
Gross profit 45,256 58,539
Administrative expenses (130,807) (109,344)
---------- ----------
Operating loss 3 (85,551) (50,805)
Income tax expense - -
---------- ----------
Loss and total comprehensive income for the year (85,551) (50,805)
======== ========
Earnings per share (in pence) 6
Basic (8.47) (5.03)
Diluted (8.47) (5.03)
Earnings per share from continuing operations (in
pence)
Basic (8.47) (5.03)
Diluted (8.47) (5.03)
The income statement has been prepared on the basis that all operations are
continuing operations.
STATEMENT OF FINANCIAL POSITION
AS AT
2019 2018
Notes £ £
Non-current assets
Goodwill 7 27,084 32,084
Investments 8 40,000 40,000
---------- ----------
67,084 72,084
---------- ----------
Current assets
Trade and other receivables 9 50,624 76,750
Cash and cash equivalents 641,989 646,453
---------- ----------
692,613 723,203
---------- ----------
Total assets 759,697 795,287
---------- ----------
Current liabilities
Trade and other payables 11 124,971 75,010
---------- ----------
Net current assets 567,642 648,193
---------- ----------
Total liabilities 124,971 75,010
---------- ----------
Net assets 634,726 720,277
======== ========
Equity
Called up share capital 13 140,510 140,510
Share premium account 12 769,790 769,790
Retained earnings (275,574) (190,023)
---------- ----------
Total equity 634,726 720,277
======== ========
The financial statements were approved by the board of
directors and authorised for issue on 29 May 2020 and are
signed on its behalf by:
V Filmer-Sankey
Director
Company Registration No. 09690364
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
Share capital Share Retained Total
premium earnings
account
£ £ £ £
Balance at 1 February 2018 140,510 769,790 (139,218) 771,082
Period ended 31 December 2018 :
Loss and total comprehensive - - (50,805) (50,805)
income for the period
---------- ---------- ---------- ----------
Balance at 31 December 2018 140,510 769,790 (190,023) 720,277
---------- ---------- ---------- ----------
Year ended 31 December 2019 :
Loss and total comprehensive - - (85,551) (85,551)
income for the year
---------- ---------- ---------- ----------
Balance at 31 December 2019 140,510 769,790 (275,574) 634,726
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED
2019 2018
Notes £ £ £ £
Cash flows from operating activities
Cash absorbed by operations 17 (4,464) (39,749)
---------- ----------
Net cash outflow from operating activities (4,464) (39,749)
---------- ----------
Net decrease in cash and cash equivalents (4,464) (39,749)
Cash and cash equivalents at beginning of year 646,453 686,202
---------- ----------
Cash and cash equivalents at end of year 641,989 646,453
REGULATORY ANNOUNCEMENT ENDS
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