Startup Giants Plc Interim Results to 30th June 2022

 
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; [e-mail]  [phone] 
 
Keith, Bayley, Rogers & Co Limited 
 
Graham Atthill-Beck [phone] 
 
[e-mail]; [e-mail] 
 
Brinsley Holman: [phone]: [e-mail] 
 
 
 
END 
 
 

(END) Dow Jones Newswires

September 30, 2022 06:20 ET (10:20 GMT)