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| 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% | 80.00 | 75.00 | 85.00 | 80.00 | 80.00 | 80.00 | 0.00 | 06:50:54 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY STARTUP GIANTS
TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE
REGULATION (EU) NO. 596/2014, AS AMED ("MAR"). ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
STARTUP GIANTS PLC
("Startup Giants" or the "Company")
Results for the Year Ended 31st December 2018
Board Statement
The Directors are pleased to present the audited financial statements for
Startup Giants for the year ended 31st December 2019. The financial statements
below do not constitute the Company's full statutory accounts but are extracted
from them. On or around 4th June 2020 the Company anticipates that the 2019
Report and Accounts, along with notice of the Annual General Meeting to be held
on 30th June 2020, will be posted to shareholders. A PDF copy of the Annual
Report will be downloadable from www.startupgiants.com.
Highlights
During the last financial year the Company explored options to expand the
number of start-ups looking for potential investment using key partnerships and
has secured several key partnerships that participate with the introduction and
validation of potential investment opportunities as well as providing
additional support services in areas of marketing and technology. It also
undertook consultancy work for early-stage entrepreneurs, which generated
revenue of GBP45,256 (2018, GBP58,539) and resulted in a net loss of GBP85,551 (2018,
GBP50,805), translating into a loss per share of 8.47 pence (2018, loss of 5.03
pence per share). At the end of the year, the Company had net cash balances of
GBP641,989 (2018, GBP646,453) and shareholders' funds stood at GBP634,726 (2018, GBP
720,277).
Current Trading and Post-Balance Sheet Developments
Trading during the current financial year to date has been in line with the
Directors' expectations at the beginning of the period. Since 1st January 2020,
Startup Giants has continued to source new investment opportunities with the
opening of a new spring accelerator round, with follow-on selection, interviews
and short-listing, and to leverage potential key partnerships within both
private and governmental sectors.
Startup Giants has also been approved by the Home Office as an Endorsing Body
for the Innovator Route and Start-up Route visa categories, with its profile
now published on the Government website. This enables the Company to source
investment opportunities globally; and directly to support foreign
entrepreneurs from non-EU countries to bring their innovations to the U.K.,
providing support over several years to target growth, including assisting
capital raising. Successful applicants need to produce to the Company evidence
of innovation, viability and scalability in order to qualify for endorsement.
Many sectors and sub-sectors are considered, with a focus on Tech, SaaS,
FinTech, AdTech, PropTech, Manufacturing and Supply Chain.
Outlook
Looking ahead, the momentum for technology companies requiring investment at
the seed stage should continue, with demand apparent for the Company's
accelerator model, which encompass a delivery crew to support young start-ups
with their technology and digital marketing strategies.
The Company has a provisional allocation of 25 endorsements from the Home
Office for endorsing foreign innovators over the coming year, which also
require support for acceleration and growth over a period of up to three years,
and has already issued endorsements to several foreign innovators with viable
and scalable business propositions.
Having identified an innovative methodology for acquiring minority interests in
highly prospective founders' businesses, Startup Giants will focus on its next
stage of growth by increasing its portfolio of foreign innovators and
supporting these investee companies with necessary technology and marketing
services.
Startup Giants is one of the pioneers in the UK of start-up acceleration for
companies that have a focus on technology and supply chain; the Directors
believe it is well positioned to leverage its expertise, contacts, and know-how
to build long-term shareholder value.
Jeb Buckler,
Chairman,
3rd June 2020
STARTUP GIANTS PLC
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEARED 31 DECEMBER 2019
2019 2018
Notes GBP GBP
Revenue 2 45,256 58,539
---------- ----------
Gross profit 45,256 58,539
Administrative expenses (130,807) (109,344)
---------- ----------
Operating loss 3 (85,551) (50,805)
Income tax expense - -
---------- ----------
Loss and total comprehensive income for the (85,551) (50,805)
year
======== ========
Earnings per share (in pence) 6
Basic (8.47) (5.03)
Diluted (8.47) (5.03)
Earnings per share from continuing
operations (in pence)
Basic (8.47) (5.03)
Diluted (8.47) (5.03)
The income statement has been prepared on the basis that all operations are
continuing operations.
STARTUP GIANTS PLC
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2019
2019 2018
Notes GBP GBP
Non-current assets
Goodwill 7 27,084 32,084
Investments 8 40,000 40,000
---------- ----------
67,084 72,084
---------- ----------
Current assets
Trade and other receivables 9 50,624 76,750
Cash and cash equivalents 641,989 646,453
---------- ----------
692,613 723,203
---------- ----------
Total assets 759,697 795,287
---------- ----------
Current liabilities
Trade and other payables 11 124,971 75,010
---------- ----------
Net current assets 567,642 648,193
---------- ----------
Total liabilities 124,971 75,010
---------- ----------
Net assets 634,726 720,277
======== ========
Equity
Called up share capital 13 140,510 140,510
Share premium account 12 769,790 769,790
Retained earnings (275,574) (190,023)
---------- ----------
Total equity 634,726 720,277
======== ========
The financial statements were approved by the board of directors and
authorised for issue on 29 May 2020 and are signed on its behalf by:
V Filmer-Sankey
Director
Company Registration No. 09690364
STARTUP GIANTS PLC
STATEMENT OF CHANGES IN EQUITY
FOR THE YEARED 31 DECEMBER 2019
Share Share Retained Total
capital premium earnings
account
GBP GBP GBP GBP
Balance at 1 February 2018 140,510 769,790 (139,218) 771,082
Period ended 31 December 2018:
Loss and total comprehensive income - - (50,805) (50,805)
for the period
---------- ---------- ---------- ----------
Balance at 31 December 2018 140,510 769,790 (190,023) 720,277
---------- ---------- ---------- ----------
Year ended 31 December 2019:
Loss and total comprehensive income - - (85,551) (85,551)
for the year
---------- ---------- ---------- ----------
Balance at 31 December 2019 140,510 769,790 (275,574) 634,726
STARTUP GIANTS PLC
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2019
2019 2018
Notes GBP GBP GBP GBP
Cash flows from operating activities
Cash absorbed by operations 17 (4,464) (39,749)
---------- ----------
Net cash outflow from operating (4,464) (39,749)
activities
---------- ----------
Net decrease in cash and cash (4,464) (39,749)
equivalents
Cash and cash equivalents at 646,453 686,202
beginning of year
---------- ----------
Cash and cash equivalents at end of 641,989 646,453
year
REGULATORY ANNOUNCEMENT ENDS
Enquiries:
Startup Giants PLC
Jeb Buckler; jeb@startupgiants.com; +44 747 794 9933
Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck; +44 20 7464 4090; +44 (0)7506 43 41 07;
blackpearladvisers@gmail.com; Graham.Atthill-Beck@kbrl.co.uk
END
(END) Dow Jones Newswires
June 04, 2020 02:00 ET (06:00 GMT)
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