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Startup Giants Plc - Interim Financial Statements to 30 June 2021

·5-min read

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 30 June 2021

Board Statement

Startup Giants plc is pleased to announce its unaudited interim results for the 6 months period from 1 January 2021 to 30 June 2021. 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 2021

30 June 2020

Operational loss

£(3,858)

£(5,975)

Loss per share

(0.32) pence

(0.59) pence

Cash and cash equivalents

£956,364

£682,289

Shareholders’ funds

£644,792

£628,571

Review of Business During the Period

In April 2021 the Company issued 237,891 new ordinary shares of 5 pence each at 85 pence per share, bringing the issued share capital to 1,247,891 shares. Of the new shares issued, 223,178 were placed for cash, raising before deduction of the issuance costs approximately £190,000 of working capital.

Startup Giants has continued to build on and strengthen its engagement model with its founders and delivery of its programmes, leveraging remote consulting and workshops in lieu of live events and meet-ups, that it introduced last year as a solution to work around the COVID situation.

The Company has introduced new technology further to improve the founder experience and is currently trialling a Startup Giants mobile application, made available on the Apple and Android app stores, for its founders to showcase their business concepts and to streamline the founders’ journey through the Startup Giants’ programmes and their early stages of growth.

Now with over 75 founders in the Startup Giants’ portfolio, the Company has continued to source a strong pipeline of new talented entrepreneurs with qualified innovative business concepts to bring to the domestic market.

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 2021 financial year.

Outlook

The Company is evaluating a number of initiatives to build on the services it offers to its portfolio of founders. As well as continuing to provide programme support to founders in their early periods of strategy and growth, the Company has seen a noticeable increase in demand from founders to partner with the management and delivery on larger scale projects in areas of marketing, software development, and growth attainment.

Conclusion

The Directors would like to thank shareholders for their 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

30th September 2021

Startup Giants plc

Statement of Comprehensive Income

Six months ended 30 June 2021

Six months ended 30 June 2021

Six months ended 30 June 2020

GBP

GBP

Turnover

215,427

44,082

Administrative expenses

(219,285)

(50,057)

Operating loss

(3,858)

(5,975)

Finance costs

(184)

-

Loss before taxation

(4,042)

(5,975)

Taxation

-

-

Loss for the period

(4,042)

(5,975)

Earnings per share:

Basic and Diluted (pence)

(0.32)p

(0.59)p

Startup Giants plc

Statement of Financial Position

As at 30 June 2021

30 June 2021

30 June 2020

GBP

GBP

Non-current assets:

Goodwill

19,584

24,584

Property, plant and equipment

1,042

-

Investments

-

40,000

20,626

64,584

Current assets:

Trade and other receivables

69,074

49,058

Cash and cash equivalents

956,364

682,289

1,025,438

731,347

Current liabilities:

Trade and other payables

376,689

142,180

Bank borrowings

5,000

25,000

381,689

167,180

Net current assets

643,749

564,167

Non-current liabilities

(19,583)

-

Net assets

644,792

628,751

Equity:

Called up share capital

152,405

140,510

Share premium account

960,102

769,790

Retained earnings

(467,715)

(281,549)

Total equity

644,792

628,751

Startup Giants plc

Statement of Cash Flows

Six months ended 30 June 2021

Six months ended 30 June 2021

Six months ended 30 June 2020

GBP

GBP

Loss for the year after tax

(4,042)

(975)

Adjustments for:

Amortisation of intangible assets

2,553

2,500

Interest expense

184

-

Movement in trade and other receivables

(38,095)

1,566

Movement in trade and other payables

119,342

12,209

Cash generated/(absorbed) by operations

79,942

15,300

Investing activities:

Purchase of property, plant and equipment

(1,096)

-

Financing activities:

Proceeds from issue of shares

202,207

-

Interest paid

(184)

-

Bank loan received

-

25,000

Bank loan repaid

(417)

-

Other loan repaid

(46)

-

Increase/(decrease) in cash and cash equivalents

280,406

40,300

Cash and cash equivalents at beginning of period

675,958

641,989

Cash and cash equivalents at end of period

956,364

682,289

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

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