Half-yearly Financial Report

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"; AQSE: SUG)

HALF-YEARLY FINANCIAL REPORT

The directors of Startup Giants (the "Directors") present below the Company's half-yearly financial report for the six month period from 1 January 2023 to 30 June 2023. 

Startup Giants is a UK-based start-up accelerator that invests in and mentors internet technology start-up businesses in the UK and internationally.  

Financial Results

Financial highlights for the period, extracted from the financial statements below (which have not been reviewed by the Company's auditors), are:

	30 June 2023	30 June 2022
Operational profit/(loss)	£70,770	£5,135
Profit/(loss) per share	5.7 pence	0.41 pence
Cash and cash equivalents	£665,281	£877,328
Shareholders' funds	£629,905	£697,782

The focus of Startup Giants in 2023 to date has been to support its portfolio of founders to target further investment rounds and showcase their investment opportunities to a growing number of venture syndicate partners, and the Company has seen a number of founders successfully complete investment rounds in the current period.

Startup Giants has also continued to build on its engagement model and delivery programmes with early stage start-up founders both in the United Kingdom and Europe to source new talent and innovation.

Current Trading and Post Balance Sheet Developments

Current trading remains in line with the Directors' expectations at the beginning of the second half of the 2023 financial year.

Outlook

Looking ahead, 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.

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

Startup Giants plc

Statement of Comprehensive Income

Six months ended 30 June 2023

	Six months ended 30 June 2023	Six months ended 30 June 2022
	GBP	GBP
Turnover	100,396	243,399
Administrative expenses	(106,176)	(237,689)
Gain on investments held at fair value	76,750	-
Operating profit/(loss)	70,969	5,710
Finance costs	(199)	(575)
Profit/(loss) before taxation	70,770	5,135
Taxation	-	-
Profit/(loss) for the period	70,770	5,135
Earnings per share:
Basic and Diluted (pence)	5.7p	0.41p

Startup Giants plc

Statement of Financial Position

As at 30 June 2023

	30 June 2023	30 June 2022
	GBP	GBP
Non-current assets:
Goodwill	9,584	14,584
Property, plant and equipment	1,005	1,906
Investments	77,100	-
	87,689	16,490
Current assets:
Trade and other receivables	20,672	82,667
Cash and cash equivalents	665,281	877,328
	685,953	959,995
Current liabilities:
Trade and other payables	(132,153)	(259,120)
Bank borrowings	(5,000)	(5,000)
	(137,153)	(264,120)
Net current assets	548,799	695,875
Non-current liabilities	(9,583)	(14,583)
Net assets	626,905	697,782
Equity:
Called up share capital	152,405	152,405
Share premium account	960,102	960,102
Retained earnings	(485,602)	(414,725)
Total equity	629,905	697,782

Startup Giants plc

Statement of Cash Flows

Six months ended 30 June 2023

	Six months ended 30 June 2023	Six months ended 30 June 2022
	GBP	GBP
Profit/(loss) for the period after tax	70,770	5,135
Adjustments for:
Depreciation and amortisation	2,940	2,813
Interest expense	199	575
Gain on investments held at fair value	(76,750)	-
Movement in trade and other receivables	11,187	14,455
Movement in trade and other payables	(49,905)	(238,714)
Cash absorbed by operations	(41,559)	(215,736)
Investing activities:
Purchase of property, plant and equipment	-	(199)
Purchase of investments	(350)	-
Financing activities:
Interest paid	(199)	(575)
Bank loan repaid	(5,000)	(5,000)
(Decrease)/increase in cash and cash equivalents	(47,108)	(221,510)
Cash and cash equivalents at beginning of period	712,389	1,098,838
Cash and cash equivalents at end of period	665,281	877,328

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.

The Directors of Startup Giants plc accept responsibility for this announcement.

Enquiries:

Startup Giants plc

Cherry Martin

[e-mail]

[phone]

Keith Bayley Rogers & Co. Limited

Brinsley Holman

[e-mail]

[phone]

Stephen Clayson

[e-mail]

[phone]

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