![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Startup Giants Plc | AQSE:SUG | Aquis Stock Exchange | Ordinary Share | GB00BYP94G30 | Ordinary shares |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSUG THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014 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 (THE "MARKET ABUSE REGULATION"). UPON PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. STARTUP GIANTS PLC ("Startup Giants" or the "Company"; AQSE: SUG) FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2022 The directors of Startup Giants (the "Directors") present below the Company's audited financial results for the year ended 31 December 2022. Startup Giants is a UK-based start-up accelerator that invests in and mentors internet technology start-up businesses in the UK and internationally. The financial information below is extracted from, but does not on its own constitute, the Company's statutory financial statements. These are contained in the Annual Report and Financial Statements for the Year Ended 31 December 2022, which are expected to be posted to shareholders imminently, and which will then be immediately available on the Company's website (startupgiants.com). Financial Results for the Year Ended 31 December 2022 Startup Giants undertook consultancy work for and provided support services to early-stage entrepreneurs, generating revenue of £320,957 (2021: £623,839). The reduced revenue in comparison with 2021 reflects tightening economic conditions and in specific terms is mainly attributable to a lesser number of new fee -paying visa applicants joining the Company's portfolio on its standard business support programme. There was also a reduction in administrative expenses, which were largely composed of costs associated with the support provided to endorsee entrepreneurs, to £456,368 (2021: £579,368). The Company recorded an operating loss of £135,411 (2021: profit of £44,471) and a total comprehensive loss of £136,514 (2021: profit of £43,814) translating into a loss per share of 10.94 pence (2021: profit of 3.88 pence per share). At the end of the year, net assets stood at £556,134 (2021: £692,648); cash and cash-equivalents in hand stood at £712,389 (2021: £1,098,838). Significant Features of Financial 2022 The focus of Startup Giants for the majority of 2022 remained on supporting founders already in the Company's portfolio to target their early stage investment rounds with private investors and funds within the Company's network, as well as the selection and support of global opportunities and talent from visa applicants seeking to bring their innovation to the United Kingdom, in order to further expand the Company's portfolio of founders. During the second half of the year, the Company also ran trials of a partnership program with several startup mentoring organisations providing access to over 200 nurtured startups, and 20 independent venture capital syndicates, qualifying partner investment opportunities at pre-seed and seed stage, and facilitating demo day introductions to the venture capital syndicates for companies located in the UK, India, the USA, Canada, and the Middle East. The Company used feedback from these trials to build on and strengthen its engagement model with its founders with the launch of a pre-funding bootcamp, being made available to founders that are ready-to-raise to improve their level of preparedness before entering a roadshow with investors. In that latter half of the year, the Company also initiated the development of an online platform to support their network of independent venture capital syndicates and will look to expand the number of partners going forwards on a region by region basis. Current Trading and Post-Balance Sheet Events Trading during the current financial year hitherto has been in line with the Directors' expectations at the beginning of the period. The Company has during the current year to date continued its core focus to expand its portfolio of founders with innovative concepts, where the Company receives either straight equity or a warrant on shares for longer-term asset appreciation, as well as building on initiatives previously put in place for diversifying regionally. Outlook Looking ahead, the momentum for technology companies requiring investment at the seed stage should continue, with demand for the Company's support model, which encompasses a delivery crew to support young start-ups with their technology and digital marketing strategies, showing signs of continuing to increase. Jeb Buckler Chairman & CEO STARTUP GIANTS PLC STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes £ £ Revenue 2 320,957 623,839 Gross profit 320,957 623,839 Administrative (456,368) (579,368) expenses Operating 3 (135,411) 44,471 (loss)/profit Investment 6 242 - revenues Finance costs 7 (1,345) (657) (Loss)/profit (136,514) 43,814 before taxation Income tax 8 - - expense (Loss)/profit (136,514) 43,814 and total comprehensive income for the year Earnings per 9 share (in pence) Basic (10.94) 3.88 Diluted (10.94) 3.88 Earnings per share from continuing operations (in pence) Basic (10.94) 3.88 Diluted (10.94) 3.88 The income statement has been prepared on the basis that all operations are continuing operations. STARTUP GIANTS PLC STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes £ £ Non-current assets Goodwill 10 12,084 17,084 Property, plant 11 1,445 2,147 and equipment 13,529 19,231 Current assets Trade and other 12 31,859 97,122 receivables Current tax 3,939 14,916 recoverable Cash and cash 712,389 1,098,838 equivalents 748,187 1,210,876 Current liabilities Trade and other 15 182,219 498,969 payables Current tax 6,280 16,407 liabilities Borrowings 14 5,000 5,000 193,499 520,376 Net current 554,688 690,500 assets Non-current liabilities Borrowings 14 12,083 17,083 Net assets 556,134 692,648 Equity Called up share 16 152,405 152,405 capital Share premium 17 960,102 960,102 account Retained (556,373) (419,859) earnings Total equity 556,134 692,648 The financial statements were approved by the board of directors and authorised for issue on 28 June 2023 and are signed on its behalf by: J Buckler Director Company registration number 09690364 STARTUP GIANTS PLC STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2022 Share Share Retained Total capital premium earnings account Notes £ £ £ £ Balance at 1 January 140,510 769,790 (463,673) 446,627 2021 Year ended 31 December 2021: Profit and total - - 43,814 43,814 comprehensive income for the year Transactions with owners in their capacity as owners: Issue of share 16 11,895 190,312 - 202,207 capital Balance at 31 152,405 960,102 (419,859) 692,648 December 2021 Year ended 31 December 2022: Loss and total - - (136,514) (136,514) comprehensive income for the year Balance at 31 152,405 960,102 (556,373) 556,134 December 2022 STARTUP GIANTS PLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes £ £ Cash flows from operating activities Cash (absorbed 21 (380,755) 238,528 by)/generated from operations Interest paid (1,345) (657) Income taxes refunded 850 408 Net cash (outflow)/inflow from operating activities (381,250) 238,279 Investing activities Purchase of property, (199) (2,573) plant and equipment Repayment of loans (242) (12,116) Interest received 242 - Net cash used in (199) (14,689) investing activities Financing activities Proceeds from issue - 202,207 of shares Repayment of bank (5,000) (2,917) loans Net cash (used (5,000) 199,290 in)/generated from financing activities Net (386,449) 422,880 (decrease)/increase in cash and cash equivalents Cash and cash 1,098,838 675,958 equivalents at beginning of year Cash and cash 712,389 1,098,838 equivalents at end of year The Directors of the Company accept responsibility for the contents of this announcement. Enquiries: Startup Giants plc Jeb Buckler, Chairman & CEO jeb@startupgiants.com +44 (0)7477 949933 Keith Bayley Rogers & Co. Limited Brinsley Holman brinsley.holman@kbrl.co.uk +44 (0)7776 302228 This information was brought to you by Cision http://news.cision.com https://news.cision.com/startup-giants-plc/r/annual-financial-report,c3798083 END
(END) Dow Jones Newswires
June 30, 2023 07:38 ET (11:38 GMT)
1 Year Startup Giants Chart |
1 Month Startup Giants Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions