Acuity RM Group Plc - Final Results
September 28 2023 - 1:57AM
PR Newswire (US)
28 September
2023
Acuity RM Group
plc
('ARM' or the
'Company')
Investee Company Final
results
Acuity RM Group plc (AIM:ACRM) announces that its
wholly owned operating subsidiary, Acuity Risk Management Limited
(“Acuity”) which it acquired by way of a reverse takeover in
April 2023 has published its results
for its year ended 31 March 2023.
Acuity’s financial statements are set out below and will be
available on the Company’s
website https://acuityrmgroup.com/investors.
Acuity RM Group plc will publish its consolidated
interim results to 30 June 2023 on
28 September 2023, which will include
10 weeks post acquisition performance of
Acuity.
Angus Forrest, CEO of
ACRM commented:
“These results relate to a post-acquisition
period and have been announced to meet regulatory requirements. The
results themselves are in line with our expectation at the time of
Acuity’s
acquisition.”
|
For further information please
contact: |
|
|
Acuity RM Group
plc |
www.acuityrmgroup.com |
|
Angus Forrest |
+44 (0) 20 3582
0566 |
|
|
|
|
WH Ireland (NOMAD &
Broker) |
www.whirelandplc.com/capital-markets |
|
Mike Coe / Sarah
Mather |
020 7220 1666 |
|
Peterhouse Capital Limited Joint
broker |
|
|
Lucy Williams / Duncan
Vasey |
020 7469 0936 |
Clear Capital Markets Limited (Joint
Broker)
Andrew
Blaylock |
020 3869
6080 |
|
|
|
|
STATEMENT OF PROFIT OR
LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH
2023
|
|
2023
£
|
2022
£
|
|
Revenue |
1,753,787 |
1,557,698 |
|
Cost of sales |
(196,164) |
(121,717) |
|
Gross profit |
1,557,623 |
1,435,981 |
|
Other operating income |
- |
43,673 |
|
Administrative expenses |
(2,175,206) |
(2,004,920) |
|
Loss from operations |
(617,583) |
(525,266) |
|
Finance income |
661 |
251 |
|
Finance expense |
(22,494) |
(19,507) |
|
Loss before tax |
(639,416) |
(544,522) |
|
Tax credit/(expense) |
105,498 |
- |
|
Loss for the year |
(533,918) |
(544,522) |
|
Total comprehensive income |
(533,918) |
(544,522) |
STATEMENT OF FINANCIAL
POSITION AS AT 31 MARCH
2023
|
|
|
|
|
|
Assets |
2023
£
|
|
2022
£
|
|
Non-current assets |
|
|
|
|
Property, plant and equipment |
10,064 |
|
14,406 |
|
Intangible assets |
2,052,331 |
|
2,092,456 |
|
Trade and other receivables |
- |
|
17,496 |
|
Current assets |
2,062,395 |
|
2,124,358 |
|
Trade and other receivables |
429,151 |
|
523,549 |
|
Cash and cash equivalents |
303,776 |
|
566,637 |
|
|
732,927 |
|
1,090,186 |
|
Total assets |
2,795,322 |
|
3,214,544 |
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
Non-current liabilities |
|
|
|
Trade and other
liabilities |
181,080 |
167,978 |
|
Loans and borrowings |
199,980 |
258,312 |
|
Current liabilities |
381,060 |
426,290 |
|
Trade and other
liabilities |
1,571,078 |
1,469,202 |
|
Loans and borrowings |
67,800 |
50,850 |
|
|
1,638,878 |
1,520,052 |
|
Total liabilities |
2,019,938 |
1,946,342 |
|
Net assets |
775,384 |
1,268,202 |
|
Issued capital and
reserves |
|
|
|
Share capital |
96,000 |
96,000 |
|
Share premium reserve |
2,306,500 |
2,306,500 |
|
Other reserves |
41,100 |
- |
|
Retained earnings |
(1,668,216) |
(1,134,298) |
|
TOTAL EQUITY |
775,384 |
1,268,202 |
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH
2023
|
Cash flows from operating
activities |
2023
£
|
2022
£
|
|
Loss for the yearAdjustments
for |
(533,918) |
(544,522) |
|
Amortisation of intangible
assets |
173,309 |
198,684 |
|
Depreciation of tangible
assets |
8,027 |
7,981 |
|
Loss on disposal of
tangible assets |
(684) |
(448) |
|
Government grants |
- |
(43,673) |
|
Interest paid |
22,494 |
19,507 |
|
Interest received |
(661) |
(251) |
|
Movements in working
capital: |
(331,433) |
(362,722) |
|
Decrease in trade and
other receivables |
111,894 |
102,853 |
|
(Decrease)/increase in
trade and other payables |
(73,419) |
15,886 |
|
Increase in deferred
revenue |
164,304 |
155,269 |
|
Cash generated from
operations |
(128,654) |
(88,714) |
|
interest paid |
- |
(169) |
|
Net cash used in operating
activities |
(128,654) |
(88,883) |
|
Cash flows from investing
activities |
|
|
|
Purchases of intangible
fixed assets |
(133,184) |
(203,493) |
|
Purchase of tangible fixed
assets |
(4,569) |
(7,065) |
|
Sale of tangible fixed
assets |
1,568 |
1,490 |
|
Interest received |
661 |
251 |
|
Net cash used in investing
activities |
(135,524) |
(208,817) |
|
Cash flows from financing
activities |
|
|
|
Issue of ordinary
shares |
- |
125,000 |
|
New loans |
65,193 |
339,000 |
|
Repayment of loans |
(63,876) |
(17,050) |
|
Repayment of directors
loans |
- |
(10,400) |
|
Net cash from financing
activities |
1,317 |
436,550 |
|
Net (decrease)/increase in
cash and cash equivalents |
(262,861) |
138,850 |
|
Cash and cash equivalents at the beginning of
year |
566,637 |
427,787 |
|
Cash and cash equivalents at the end of the
year |
303,776 |
566,637 |
Note to
Editors
Acuity RM Group
plc
Acuity RM Group plc (AIM: ACRM), previously known as
Drumz plc, is an established provider of risk management services.
It's award-winning STREAM® software platform, which collects data
about organisations to improve business decisions and management.
It is used by around 70 organisations in markets including
government, utilities, defence, broadcasting, manufacturing and
healthcare.
The Company is focused on delivering long term,
sustainable growth in shareholder value. In the short to medium
term this is expected to come from organic growth and thereafter
may also come from complementary
acquisitions.
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