Startup Giants Plc Interim Financial Statements to 30 June 2021
30 September 2021 - 9:52PM
UK Regulatory
TIDMSUG
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 (0.32) pence (0.59) pence
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 5 pence each at
85 pence per share, bringing the issued share capital to 1,247,891 shares. Of
the new shares issued, 223,178 were placed for cash, raising before deduction
of the issuance costs approximately £190,000 of working capital.
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 Six months ended
30 June 2021 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 Six months ended
30 June 2021 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 (38,095) 1,566
receivables
Movement in trade and other payables 119,342 12,209
Cash generated/(absorbed) by 79,942 15,300
operations
Investing activities:
Purchase of property, plant and (1,096) -
equipment
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 280,406 40,300
equivalents
Cash and cash equivalents at 675,958 641,989
beginning of period
Cash and cash equivalents at end of 956,364 682,289
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 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
END
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