IntelliAM AI PLC Annual Financial Report
25 September 2024 - 4:00PM
RNS Regulatory News
RNS Number : 5214F
IntelliAM AI PLC
25 September 2024
25 September 2024
IntelliAM AI plc
("IntelliAM" or the "Company")
Audited results FY24
IntelliAM AI plc (AQSE: INT), the software company
leveraging the power of AI and machine learning in the
manufacturing industry announces its audited results for the year
ended 31 March 2024 (FY24), which are set out below. The reporting
period covers the period from incorporation on 10 July 2023 until
31st March 2024 and prior to its listing on the Aquis
exchange on 3 July 2024 and its acquisition of 53 Degrees North
Engineering Ltd (53DN) on 4 July 2024.
Future reporting periods will include the financial
performance of 53DN. As per the admission document, dated 26 June
2024 a copy of which is available at https://intelliam.ai/reports-presentations/,
the unaudited revenue of 53DN, which is now the Group's Consulting
division, for the year to 31st March 24 was £2,776,253
and a post- tax profit of £649,317.
Since listing on the Aquis Exchange in July 2024 and
raising gross proceeds of £5.1m, the Company is pleased to have
reported ongoing momentum in both divisions, with the following
highlights:
· DIF Lighthouse
Funding Award of around £263,000 for a research project to
be
completed in the Company's current financial
year;
·
A significant extension to an existing agreement
with a global leader in beverage alcohol across more than 35
maltings sites in the UK worth a minimum of at least
£100,000 per annum over the next two years;
and
·
Contracts for 3 large Hovis sites for the
Company's consultancy reliability services and project services for
all Hovis manufacturing sites worth in excess of £100,000 over a
12-month period.
The Company intends to announce interim results for
the 6 months to 30 September 2024 in mid-November.
Enquiries:
|
|
IntelliAM AI plc
Tom Clayton, Chief Executive Officer
Daud Khan, Chief Financial Officer
|
+44 114 299 5007
|
Oberon Capital - AQSE Corporate Adviser and Broker
Adam Pollock Mike Seabrook Jessica
Cave
|
+44 203 179 5300
|
Square1 Consulting - Financial PR
David Bick
|
+44 207 929 5599
+44 7831 381201
|
Below is an excerpt of the accounts,
the full report and accounts are available at the following
link https://intelliam.ai/reports-presentations/
INTELLIAM AI PLC
(FORMERLY KNOWN AS INTELLIAM AI LIMITED) PROFIT AND LOSS
ACCOUNT
FOR THE PERIOD ENDED 31 MARCH
2024
Period
from 10
July
2023 to
31 March
2024
Notes
£
Turnover
3
105,510
Administrative expenses
(335,552)
Loss before taxation
(230,042)
Tax on loss
6
31,580
Loss for the financial period
(198,462)
The profit and loss account has been
prepared on the basis that all operations are continuing
operations.
INTELLIAM AI PLC
(FORMERLY KNOWN AS INTELLIAM AI LIMITED) BALANCE
SHEET
AS AT 31 MARCH 2024
|
|
Fixed assets
|
Notes
|
£
|
2024
£
|
Intangible assets
|
8
|
|
270,000
|
Tangible assets
|
9
|
|
4,687
|
Current assets
|
|
|
274,687
|
Debtors
|
10
|
76,347
|
|
Cash at bank and in hand
|
|
90,677
|
|
|
|
167,024
|
|
Creditors: amounts falling due within one year
|
11
|
(176,764)
|
|
Net
current liabilities
|
|
|
(9,740)
|
Total assets less current liabilities
|
|
|
264,947
|
Provisions for deferred tax
|
7
|
|
31,580
|
Net
assets
|
|
|
296,527
|
Capital and reserves
Called up share capital
|
12
|
|
313,723
|
Share premium account
|
13
|
|
181,266
|
Profit and loss reserves
|
13
|
|
(198,462)
|
Total equity
|
|
|
296,527
|
INTELLIAM AI PLC
(FORMERLY KNOWN AS INTELLIAM AI LIMITED)
STATEMENT
OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH
2024
|
| Share
capital
|
|
Share
Premium
account
|
|
Profit and
loss
reserves
|
Total |
|
Notes
|
£
|
|
£
|
|
£
|
£
|
Balance at 10 July 2023
|
|
-
|
|
-
|
|
-
|
-
|
Period ended 31 March 2024:
Loss and total comprehensive
income
|
|
-
|
|
-
|
|
(198,462)
|
(198,462)
|
Issue of share capital
|
12
|
313,723
|
|
181,266
|
|
-
|
494,989
|
Balance at 31 March 2024
|
|
313,723
|
|
181,266
|
|
(198,462)
|
296,527
|
INTELLIAM AI PLC
(FORMERLY KNOWN AS INTELLIAM AI LIMITED) STATEMENT OF CASH
FLOWS
FOR THE PERIOD ENDED 31 MARCH
2024
|
|
|
Notes
|
£
|
2024
£
|
Cash flows from operating activities
Cash absorbed by operations
|
18
|
|
(87,057)
|
Investing activities
Purchase of tangible fixed
assets
|
9
|
(4,766)
|
|
Net
cash used in investing activities
|
|
|
(4,766)
|
Financing activities
Proceeds from issue of shares
|
12
|
182,500
|
|
Net
cash generated from/(used in) financing activities
|
|
|
182,500
|
Net
increase in cash and cash equivalents
|
|
|
90,677
|
Cash and cash equivalents at
beginning of period
|
|
|
-
|
Cash and cash equivalents at end of period
|
|
|
90,677
|
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NEXEAFNLASALEAA
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