Startup Giants Plc Interim Results to 30th June 2022
September 30 2022 - 5:20AM
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 30th June 2022
Board Statement
Startup Giants plc is pleased to announce its unaudited interim results for the
six months' period from 1 January 2022 to 30 June 2022. 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 30 June
2022 2021
Operational profit £5,135 £(3,858)
/(loss)
Profit/(loss) per 0.41 pence (0.32)
share pence
Cash and cash £877,328 £956,364
equivalents
Shareholders' £697,782 £644,792
funds
Startup Giants' focus since the beginning of 2022 has been to expand on the
selection and support of global opportunities and talent represented by visa
applicants seeking to bring their innovation to the United Kingdom. This has
resulted in the piloting a partnership programme and a fundraising platform
('RAISE') with other start-up mentoring organisations and independent venture
capital syndicates in other regions in the world.
Working with several start-up mentoring organisations providing access to over
200 nurtured start-ups, and 20 independent venture capital syndicates, the
Company has been running a pilot of the programme for several months,
qualifying partner investment opportunities at pre-seed and seed capital
stages, and facilitating 'demo day' introductions to the venture capital
syndicates for companies located in the UK, India, the USA, Canada, and the
Middle East. After assimilating feedback from the parties involved, the
Company is now rolling out an online platform to support this model and will
look to expand the number of partners going forwards on a region-by-region
basis.
In parallel, the Company has initiated the rollout of a suite of in-house
utility applications for start-up founders, all of which will be made available
to start-up founders for a single monthly subscription. After making the suite
of apps available for a period under private beta access, the Company plans to
expand the number of applications in the suite on a regular basis, based on
customer demand for new features.
Startup Giants has continued to build on and strengthen its engagement model
with its founders and delivery of its programmes, and has also launched a
series of 'bootcamps' available to founders; the first being a pre-funding
'bootcamp' for entrepreneurs who are ready to raise new capital, the second
being a 'bootcamp' on building an MVP using no-code or low-code frameworks and
getting evidence of a market demand, and the third based around branding and
company profile.
With these new initiatives, Startup Giants continues to support founders at the
early stage, and provides them with a clear pathway to reach the RAISE platform
and showcase their investment opportunity to a growing number of our venture
syndicate partners as part of a demo day with follow up discussions.
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 2022 financial year.
Outlook
Looking forwards, the Company will continue to explore expanding its services
into regions outside the United Kingdom and to scaling its RAISE platform for
private venture capital syndicates.
The Directors are cognisant of the inflationary, supply chain and other
economic pressures which now confront the UK and the rest of the world, arising
from the conflict in the Ukraine that began in February of this year. They are
aware, too, of the heightened levels of geopolitical uncertainty affecting
regions as diverse as the UK, mainland Europe and the South China Sea. By
expanding the Company's theatre of operations to include different regions
around the world, the Directors hope, in the medium- to long-term, to help
mitigate the risks of over-dependence on revenue sources and business expansion
opportunities concentrated on a narrow geographical base.
Conclusion
The Directors would like to thank shareholders for their continuing 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,
29th September 2022
Startup Giants plc
Statement of Comprehensive Income
Six months ended 30 June 2022
Six months Six months
ended 30 June ended 30 June
2022 2021
GBP GBP
Turnover 243,399 215,427
Administrative expenses (237,689) (219,285)
Operating profit/(loss) 5,710 (3,858)
Finance costs (575) (184)
Profit/(loss) before 5,135 (4,042)
taxation
Taxation - -
Profit/(loss) for the 5,135 (4,042)
period
Earnings per share:
Basic and Diluted (pence) 0.41p (0.32)p
Startup Giants plc
Statement of Financial Position
As at 30 June 2022
30 June 2022 30 June
2021
GBP GBP
Non-current assets:
Goodwill 14,584 19,584
Property, plant and 1,906 1,042
equipment
16,490 20,626
Current assets:
Trade and other receivables 82,667 69,074
Cash and cash equivalents 877,328 956,364
959,995 1,025,438
Current liabilities:
Trade and other payables (259,120) (376,689)
Bank borrowings (5,000) (5,000)
(264,120) (381,689)
Net current assets 695,875 643,749
Non-current liabilities (14,583) (19,583)
Net assets 697,782 644,792
Equity:
Called up share capital 152,405 152,405
Share premium account 960,102 960,102
Retained earnings (414,725) (467,715)
Total equity 697,782 644,792
Startup Giants plc
Statement of Cash Flows
Six months ended 30 June 2022
Six months Six months
ended 30 ended 30 June
June 2022 2021
GBP GBP
Profit/ 5,135 (4,042)
(loss) for
the period
after tax
Adjustments
for:
Depreciation 2,813 2,553
and
amortisation
Interest 575 184
expense
Movement in 14,455 (38,095)
trade and
other
receivables
Movement in (238,714) 119,342
trade and
other
payables
Cash (215,736) 79,942
(absorbed)/
generated by
operations
Investing
activities:
Purchase of (199) (1,096)
property,
plant and
equipment
Financing
activities:
Proceeds - 202,207
from issue
of shares
Interest (575) (184)
paid
Bank loan (5,000) (417)
repaid
Other loan - (46)
repaid
(Decrease)/ (221,510) 280,406
increase in
cash and
cash
equivalents
Cash and 1,098,838 675,958
cash
equivalents
at beginning
of period
Cash and 877,328 956,364
cash
equivalents
at 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 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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