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DJ Startup Giants Plc Interim Results to 31st July 2018

 
TIDMSUG 
 
STARTUP GIANTS PLC 
                      ("Startup Giants" or the "Company") 
          Interim Results for the six-months' period to 31 July 2018 
 
                                Board Statement 
 
Startup Giants is pleased to announce its unaudited interim results for the 
six-months' period from 1st February 2018 to 31st July 2018. 
 
The key financial data for the period, extracted from the financial statements 
below, are: operational loss - GBP(45,893); loss per share - (4.5) pence; cash 
and cash equivalents - GBP665,033; shareholders' funds - GBP725,189. Financial data 
for the comparable period to 31 July 2017 are not included in this announcement 
as this period pre-dates the Company's admission to NEX Exchange Growth Market 
and interim accounts were not produced. 
 
 
Review of Business During the Period 
 
When the Company reported its results for the last financial year it said that, 
as it moved forward with its next accelerator round, it would focus on forging 
key partnerships. 
 
During the period under review, the Startup Giants has solidified a 
relationship with Exponential Events. This partnership spans event management 
and the provision of a platform for sourcing new capital both for the Company 
and for direct, third-party investment into Startup Giants' investee companies. 
The Directors believe that outsourcing the investor event management will allow 
the Company to concentrate on scaling-up the number of early-stage companies 
coming through its accelerator round, thus providing a greater range of 
prospective candidates to a third-party investor audience for direct 
investment. Following the publication of these interim results, Startup Giants 
will itself embark upon a capital raising via the Exponential Events' platform. 
 
Current Trading 
 
Current trading remains in line with the Directors' expectations at the 
beginning of the second part of financial 2018. 
 
Post- Balance Sheet Event 
 
The Company announced on 8th August 2018 that it had changed the financial year 
end from 31st January to 31st December so that future financial reporting 
periods will coincide with calendar years. The next set of audited financial 
statements to be published will therefore cover the 11 months to 31 December 
2018. 
 
Outlook 
 
Startup Giants expects in the near future to make additions to its Investment 
Advisory Panel, which the Directors believe should significantly strengthen 
this key element of the Company's investment processes and give it access to 
valuable additional networks. If, as and when appropriate, further announcement 
(s) will follow. 
 
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 period and into 
the future. 
 
30th October 2018 
 
Jeb Buckler, 
Chief Executive Officer 
 
                              Startup Giants PLC 
                       Statement of Comprehensive Income 
                         Six months ended 31 July 2018 
 
(Financial data for the comparative period to 31 July 2017 not prepared as this 
              pre-dates admission to NEX Exchange Growth Market) 
 
                             Six months ended 31 July     Year ended 31 January 
                                                 2018                      2018 
 
                                                  GBP                       GBP 
 
Administrative expenses                      (45,893)                  (71,753) 
 
Operating loss                               (45,893)                  (71,753) 
 
Taxation                                            -                         - 
 
Loss for the period                          (45,893)                  (71,753) 
 
Earnings per share: 
 
Basic and Diluted                              (4.5)p                    (7.1)p 
(pence) 
 
                              Startup Giants PLC 
                        Statement of Financial Position 
                              as at 31 July 2018 
 
                            31 July 2018 31 January 2018 
 
                                     GBP             GBP 
 
Non-current assets: 
 
Goodwill                          34,167          36,667 
 
Investments                       40,000          40,000 
 
                                  74,167          76,667 
 
Current assets: 
 
Trade and other receivables       68,636          54,440 
 
Cash and cash equivalents        665,033         686,202 
 
                                 733,669         740,642 
 
Total assets                     807,836         817,309 
 
Current liabilities: 
 
Trade and other payables          82,647          46,227 
 
Net current assets               651,022         694,415 
 
Total liabilities                 82,647          46,227 
 
Net assets                       725,189         771,082 
 
Equity: 
 
Called up share capital          140,510         140,510 
 
Share premium account            769,790         769,790 
 
Retained earnings              (185,111)       (139,218) 
 
Total equity                     725,189         771,082 
 
                              Startup Giants PLC 
                            Statement of Cash Flows 
                         Six months ended 31 July 2018 
 
                                      Six months ended 31      Year ended 31 
                                           July 2018           January 2018 
 
                                              GBP                   GBP 
 
Loss for the year after tax                 (45,893)             (71,753) 
 
Adjustments for: 
 
Amortisation of intangible assets            2,500                 5,000 
 
Movement in trade and other                 (14,196)             (54,440) 
receivables 
 
Movement in trade and other payables         36,420               28,142 
 
Cash absorbed by operations                 (21,169)             (93,051) 
 
Investing activities: 
 
Purchase of investments                        -                 (40,000) 
 
Financing activities: 
 
Proceeds from issue of shares                  -                  810,300 
 
(Decrease)/increase in cash and cash        (21,169)              677,249 
equivalents 
 
Cash and cash equivalents at                686,202                8,953 
beginning of period 
 
Cash and cash equivalents at end of         665,033               686,202 
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 enquiry and the Directors 
of Startup Giants PLC accept responsibility for its content. 
 
Enquiries: 
 
Startup Giants PLC 
Cherry Martin; cherry@startupgiants.com +44 20 7 157 9764 
 
Keith, Bayley, Rogers & Co. Limited 
Graham Atthill-Beck; +44 20 7464 4091; +971 50 856 9408; +44 750 643 4107; 
blackpearladvisers@gmail.com; Graham.Atthill-Beck@kbrl.co.uk 
Brinsley Holman; +44 20 7464 4098; Brinsley.Holman@kbrl.co.uk 
 
 
 
END 
 

(END) Dow Jones Newswires

October 31, 2018 03:00 ET (07:00 GMT)