TIDMACSO
RNS Number : 0043J
Accesso Technology Group PLC
27 March 2018
27 March 2018
accesso(R) Technology Group plc
("accesso" or the "Group")
Preliminary Results Audit Update
accesso Technology Group plc (AIM: ACSO), the premier technology
solutions provider to leisure, entertainment hospitality,
attractions and cultural markets, announces that further to the
publication of its unaudited preliminary results on 21 March 2018,
the Group's audit process for 2017 has now completed.
As part of this process, the Group has reclassified a liability
of $1.3m originally included within "Trade and other payables" to
"Other reserves", which results in the Group's Net Assets as at 31
December 2017 increasing by $1.3m from the number reported in the
unaudited statements. The relevant revised information is included
for convenience herewith:
Consolidated statement of financial position
as at 31 December 2017
31 December 31 December
Registered Number: 03959429 2017 2016
$000 $000
------------------------------------ ------------ ------------
Assets
Non-current assets
Intangible assets 198,298 81,612
Property, plant and equipment 3,400 3,494
Deferred tax assets 8,937 6,008
------------ ------------
210,635 91,114
------------ ------------
Current assets
Inventories 506 491
Trade and other receivables 19,761 10,232
Income tax receivable - 681
Cash and cash equivalents 28,668 5,866
------------ ------------
48,935 17,270
------------ ------------
Liabilities
Current liabilities
Trade and other payables 49,874 11,242
Finance lease liabilities 9 54
Income tax payable 613 -
------------ ------------
50,496 11,296
------------ ------------
Net current (liabilities) / assets (1,561) 5,974
------------ ------------
Non-current liabilities
Deferred tax liabilities 14,629 9,990
Finance lease liabilities - 9
Other non-current liabilities 3,024 -
Borrowings 16,140 9,298
------------ ------------
33,793 19,297
------------ ------------
Total liabilities 84,289 30,593
------------ ------------
Net assets 175,281 77,791
============ ============
Shareholders' equity
Called up share capital 411 357
Share premium 105,207 28,150
Own shares held in trust (1,163) (1,163)
Other reserves 14,453 9,242
Retained earnings 39,820 29,919
Merger relief reserve 19,641 14,540
Translation reserve (3,088) (3,254)
------------ ------------
Total shareholders' equity 175,281 77,791
============ ============
Consolidated statement of changes in equity
for the financial year ended 31 December 2017
Own
shares Attributable
Merger held to
Share Share Retained relief Other in Translation equity Non-controlling
capital premium earnings reserve reserves trust reserve holders interest Total
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000
-------- -------- --------- -------- --------- -------- ------------ ------------- ---------------- --------
Balance
at 31
December
2016 357 28,150 29,919 14,540 9,242 (1,163) (3,254) 77,791 - 77,791
Comprehensive income
for the year
Profit
for
period - - 9,901 - - - - 9,901 - 9,901
Other
comprehensive
income - - - - - - 166 166 - 166
-------- -------- --------- -------- --------- -------- ------------ ------------- ---------------- --------
Total
comprehensive
income
for
the
year - - 9,901 - - - 166 10,067 - 10,067
-------- -------- --------- -------- --------- -------- ------------ ------------- ---------------- --------
Contributions by and distributions
to owners
Issue
of share
capital 54 77,057 - 5,101 - - - 82,212 - 82,212
Share-based
payments - - - - 1,089 - - 1,089 - 1,089
Equity-settled
deferred
consideration - - 1,314 - 1,314 - 1,314
Change
in tax
rates - - - - (2,213) - - (2,213) - (2,213)
Share
option
tax
credit - - - - 5,021 - - 5,021 - 5,021
Total
contributions
by and
distributions
by owners 54 77,057 - 5,101 5,211 - - 87,423 - 87,423
Balance
at 31
December
2017 411 105,207 39,820 19,641 14,453 (1,163) (3,088) 175,281 - 175,281
======== ======== ========= ======== ========= ======== ============ ============= ================ ========
Balance
at 31
December
2015 353 26,841 22,169 14,540 3,470 (2,136) (1,675) 63,562 2 63,564
Comprehensive income for
the year
Profit
for
period - - 7,526 - - - - 7,526 - 7,526
Other
comprehensive
income - - - - - - (1,579) (1,579) - (1,579)
-------- -------- --------- -------- --------- -------- ------------ ------------- ---------------- --------
Total
comprehensive
income
for
the
year - - 7,526 - - - (1,579) 5,947 - 5,947
-------- -------- --------- -------- --------- -------- ------------ ------------- ---------------- --------
Contributions by and distributions
to owners
Issue
of share
capital 4 1,309 - - - - - 1,313 - 1,313
Share-based
payments - - - - 987 - - 987 - 987
Reduction
of shares
held
in trust - - 222 - - 973 - 1,195 1,195
Removal
of NCI - - 2 - - - - 2 (2) -
Change
in tax
rates - - - - (11) - - (11) - (11)
Share
option
tax
credit - - - - 4,796 - - 4,796 - 4,796
Total
contributions
by and
distributions
by owners 4 1,309 224 - 5,772 973 - 8,282 (2) 8,280
Balance
at 31
December
2016 357 28,150 29,919 14,540 9,242 (1,163) (3,254) 77,791 - 77,791
======== ======== ========= ======== ========= ======== ============ ============= ================ ========
-S -
For further information, please contact:
accesso Technology Group plc +44 (0)118 934 7400
Tom Burnet, Executive Chairman
Steve Brown, Chief Executive Officer
John Alder, Chief Financial Officer
FTI Consulting, LLP +44 (0)20 3727 1000
Matt Dixon, Adam Davidson
Canaccord Genuity Limited
Simon Bridges, Martin Davison, Richard Andrews +44 (0)20 7523 8000
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis, Mark Lander
This information is provided by RNS
The company news service from the London Stock Exchange
END
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