Startup Giants Plc - Interim Results to 31st July 2018

STARTUP GIANTS PLC
(“Startup Giants” or the “Company”)
Interim Results for the six-months’ period to 31 July 2018

Board Statement

Startup Giants is pleased to announce its unaudited interim results for the six-months’ period from 1st February 2018 to 31st July 2018.  

The key financial data for the period, extracted from the financial statements below, are: operational loss – £(45,893); loss per share – (4.5) pence; cash and cash equivalents - £665,033; shareholders’ funds - £725,189. Financial data for the comparable period to 31 July 2017 are not included in this announcement as this period pre-dates the Company’s admission to NEX Exchange Growth Market and interim accounts were not produced.

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

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 8^th August 2018 that it had changed the financial year end from 31^st January to 31^st December so that future financial reporting periods will coincide with calendar years. The next set of audited financial statements to be published will therefore cover the 11 months to 31 December 2018.

Outlook

Startup Giants expects in the near future to make additions to its Investment Advisory Panel, which the Directors believe should significantly strengthen this key element of the Company’s investment processes and give it access to valuable additional networks. If, as and when appropriate, further announcement(s) will follow.

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 period and into the future.

30^th October 2018

Jeb Buckler,
Chief Executive Officer

Startup Giants PLC
Statement of Comprehensive Income
Six months ended 31 July 2018

(Financial data for the comparative period to 31 July 2017 not prepared as this pre-dates admission to NEX Exchange Growth Market)

                          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

Startup Giants PLC
Statement of Financial Position
as at 31 July 2018

                            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

Startup Giants PLC
Statement of Cash Flows
Six months ended 31 July 2018

                             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 European Union.

This announcement has been made after due and careful enquiry and the Directors of Startup Giants PLC accept responsibility for its content.

Enquiries:

Startup Giants PLC
Cherry Martin; cherry@startupgiants.com +44 20 7 157 9764

Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck; +44 20 7464 4091; +971 50 856 9408; +44 750 643 4107;
blackpearladvisers@gmail.com; Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman; +44 20 7464 4098; Brinsley.Holman@kbrl.co.uk