Back to all announcements

DJ Startup Giants Plc Final Results

 
TIDMSUG 
 
STARTUP GIANTS PLC 
                      ("Startup Giants" or the "Company") 
 
              Results for the 11 Months Ended 31st December 2018 
 
Introduction 
 
Startup Giants is pleased to present its audited financial statements for the 
eleven months from 1st February 2018 to 31st December 2018, which have been 
prepared in accordance with the conventions of IFRS. The loss for the period 
was GBP(50,805) (2017-18, loss of GBP(71,753)), net assets were GBP720,277  (2017-18, 
GBP771,082)  and the Company's net cash position stood at GBP646,453 (2017-18, GBP 
686,202). 
 
Review 
 
During the period under review, as presaged in the last Chairman's Statement, 
the Company explored options to expand the pool of capital available for 
investment in start-ups within its B to C purview and examined a number of 
potential key partnerships. It also undertook consultancy work for early-stage 
entrepreneurs, which generated revenue of GBP58,539 (2017-18, GBP nil) and resulted 
in the reduced net loss stated above, translating into a loss per share of 
(5.03) pence (2017-18, loss of (7.17) pence per share). 
 
During the first quarter of 2018, the Company also applied for and was awarded 
the status of a Small UK Alternative Investment Fund Manager (AIFM) by the FCA 
with FRN number 799439. 
 
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 2019, 
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 explored the ability to support entrepreneurs from 
non-EU countries to bring their IP to the UK through the Innovator and Startup 
Route Visa programmes sponsored by the Home Office. Startup Giants has applied 
to the Home Office to become an endorsing body and is working towards getting 
the required support from the Department of Trade and Industry to complete the 
process. As an endorsing body, Startup Giants will thereafter be able to source 
new investment opportunities globally. 
 
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 encompasses a delivery crew to support young start-ups 
with their technology and digital marketing strategies. 
 
As it moves forwards with its next accelerator round, the Company will look to 
increase its portfolio of investee companies.  Few competitors specialise in 
sourcing promising consumer start-ups at the pre-seed stage and the Directors 
believe Startup Giants is on track to build its portfolio by sourcing new 
investments over the coming year from among many available opportunities. 
 
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 investments and providing the 
technology and marketing services to support these investee companies. 
 
Startup Giants is one of the pioneers in the UK of start-up acceleration for 
companies that have a focus on consumer business models and it is well 
positioned to leverage its expertise, contacts, and know-how to build long-term 
shareholder value. 
 
Annual General Meeting ("AGM") 
 
The Company's AGM will be held at 11.00 a. m. BST on Wednesday 26th June 2019. 
Notice of the AGM giving full details of the location and the resolutions to be 
laid before shareholders will be included with the Annual Report, which will be 
posted to shareholders by 3rd June 2019. 
 
Conclusion 
 
I wish to thank my Board colleagues and the shareholders for their support and 
I look forward to reporting on future developments as and when this is 
appropriate. 
 
 Jeb Buckler, Chairman and Chief Executive Officer 
 
London, 30th May 2019 
 
                                  STARTUP GIANTS PLC 
                           STATEMENT OF COMPREHENSIVE INCOME 
                         FOR THE PERIOD ENDED 31 DECEMBER 2018 
 
 
                                                               Period              Year 
 
                                                                ended             ended 
 
                                                          31 December        31 January 
 
                                                                 2018              2018 
 
                                      Notes                         GBP                 GBP 
 
Revenue                               2                        58,539                 - 
 
Gross profit                                                   58,539                 - 
 
Administrative expenses                                     (109,344)          (71,753) 
 
Operating loss                        3                      (50,805)          (71,753) 
 
Income tax expense                                                  -                 - 
 
Loss and total comprehensive income 
for the period                        15                     (50,805)          (71,753) 
 
 
 
 
 
Earnings per share                    7 
 
Basic                                                          (5.03)            (7.17) 
 
Diluted                                                        (5.03)            (7.17) 
 
Earnings per share from continuing 
operations 
 
Basic                                                          (5.03)            (7.17) 
 
Diluted                                                        (5.03)            (7.17) 
 
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 2018 
 
 
                                            31 December             31 January 
                                            2018                    2018 
                                            GBP                       GBP 
                                Notes 
 
Non-current assets 
Goodwill 
                                8                            32,084          36,667 
 
Investments                     9                            40,000          40,000 
 
                                                             72,084          76,667 
 
Current assets 
Trade and other receivables 
                                10          76,750                  54,440 
 
Cash and cash equivalents                                   646,453         686,202 
 
                                                            723,203         740,642 
 
Total assets                                                795,287         817,309 
 
 
 
Current liabilities 
Trade and other payables        12                           75,010          46,227 
 
Net current assets                                          648,193         694,415 
 
Total liabilities                                            75,010          46,227 
 
Net assets                                                  720,277         771,082 
 
 
Equity 
Called up share capital         13                          140,510         140,510 
 
Share premium account           14                          769,790         769,790 
 
Retained earnings               15                        (190,023)       (139,218) 
 
Total equity                                                720,277         771,082 
 
The financial statements were approved by the board of directors and authorised 
for issue on 30 May 2019 and are signed on its behalf by: 
 
V Filmer-Sankey 
Director 
 
Company Registration No. 09690364 
 
 
                                    STARTUP GIANTS PLC 
           STATEMENT OF CHANGES IN EQUITYFOR THE PERIOD ENDED 31 DECEMBER 2018 
 
                                                                                   Total 
                                             Share    Share premium   Retained 
                                            capital      account      earnings 
 
                                     Notes          GBP              GBP           GBP         GBP 
 
Balance at 1 February 2017                    100,000              -    (67,465)    32,535 
 
Year ended 31 January 2018: 
 
Loss and total comprehensive income                 -              -    (71,753)  (71,753) 
for the year 
 
Issue of share capital                13       40,510        769,790           -   810,300 
 
Balance at 31 January 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 
 
                              STARTUP GIANTS PLC 
                            STATEMENT OF CASH FLOWS 
                     FOR THE PERIOD ENDED 31 DECEMBER 2018 
 
                                                 Notes   Period ended              Year 
                                                          31 December          ended 31 
                                                       2018                     January 
                                                                                   2018 
 
                                                                    GBP        GBP        GBP 
 
Cash flows from operating activities                19       (39,749)          (93,051) 
Cash absorbed by operations 
 
Net cash outflow from operating activities                   (39,749)          (93,051) 
 
Investing activities 
Purchase of investments                                             - 
                                                                      (40,000) 
 

(MORE TO FOLLOW) Dow Jones Newswires

May 31, 2019 06:17 ET (10:17 GMT)

DJ Startup Giants Plc Final Results -2-

Net cash used in investing activities                               -          (40,000) 
 
Financing activities 
 
Proceeds from issue of shares                                       -  810,300 
 
Net cash (used in)/generated from financing 
activities                                           -                          810,300 
 
Net (decrease)/increase in cash and cash                     (39,749)           677,249 
equivalents 
 
Cash and cash equivalents at beginning of                     686,202             8,953 
year 
 
Cash and cash equivalents at end of year                      646,453           686,202 
 
This announcement has been made after due and careful enquiry and the Directors 
of Startup Giants PLC accept responsibility for its content. A copy of the 
Annual Report from which the financial statements reproduced here are extracted 
will be uploaded onto the NEX Exchange website www.nexexchange.com immediately 
following the posting to shareholders. 
 
REGULATORY ANNOUNCEMENT ENDS 
 
Enquiries: 
 
Startup Giants PLC 
Jeb Buckler; jeb@startupgiants.com; +44 747 794 9933 
Cherry Martin; cherry@startupgiants.com; +44 20 7 157 9764 
 
Keith, Bayley, Rogers & Co. Limited 
Graham Atthill-Beck; +44 20 7464 4090; +971 50 856 9408; 
blackpearladvisers@gmail.com; Graham.Atthill-Beck@kbrl.co.uk 
 
Notes for Editors: 
 
The Company at a Glance 
 
Startup Giants plc is a UK-based Investment Vehicle, which invests in 
technology start-ups at the concept stage and then participates on subsequent 
seed and expansion rounds. The Company intends to evaluate and invest in a 
range of businesses located in the UK and mainland Europe. The Directors and 
the Investment Advisory Panel have experience in technology companies and 
start-ups and will use their expertise and their industry contacts actively to 
manage the early stage development of the businesses in which it chooses to 
invest. 
 
The Company's revenue model is principally to realise investment gains through 
portfolio divestments by using the skill and experience of its executive 
management, supported by the non-executive Directors and investment advisory 
panel, to identify and mentor technology start-ups with the potential for 
significant growth. The Company may also provide a range of services to its 
portfolio companies relating to mentoring and delivery of technology and 
digital marketing. 
 
The Company made a net loss for the year of GBP50,805. At the year end, the 
Company had net assets of GBP720,227. 
 
 
 
END 
 

(END) Dow Jones Newswires

May 31, 2019 06:17 ET (10:17 GMT)