Completion of Audit & Notice of AGM

Ananda Developments PLC
31 July 2023
 

31 July 2023

 

ANANDA DEVELOPMENTS PLC

("Ananda" or the "Company")

 

Completion of Audit, Publication of Annual Report and Accounts and Notice of Annual General Meeting

 

Further to the announcement of its 2022/23 unaudited preliminary results on 13 July 2023, Ananda announces that the audit for the year ended 31 January 2023 has now been completed. Adjustments have been made to the previously notified Consolidated Statement of Cashflows and Balance Sheet, which are reflective of adjustments made a part of a review of the acquisition of DJT Group Limited, revised tables are set out below.

 

The Company's Annual Report and Accounts for the year ended 31 January 2023, together with a Notice of Annual General Meeting, has been published on the Company's website.  The notice of Annual General Meeting have also today been posted to, or emailed to, shareholders as appropriate in accordance with the provision in the Company's articles of association on electronic communications.

 

The Annual General Meeting is due to be held at the offices of Shakespeare Martineau Llp, 6th Floor, 60 Gracechurch Street, London, EC3V 0HR at 2.00pm on 24th August 2023.

 

 

Statement of Financial Position

 



GROUP



 

31 Jan 2023

 

31 Jan 2022


Note

£

£

Non-Current assets



 

Tangible Assets

10

1,762,468

-

Intangible Assets

12

4,470,376

-

Investments in subsidiaries


-

2,252,192

Total non-current assets


6,232,844

2,252,192



 

 

Current assets




Cash and cash equivalents


18,837

-

Assets under construction


47,080

-

Trade and other receivables

14

210,144

110,938

Total current assets


276,061

110,938

 




Current liabilities




Trade and other payables

15

1,586,484

1,487,254

Convertible loan notes

16

2,924,812

-

Total current liabilities


4,511,296

2,075,114

 




Non-current liabilities




Convertible loan notes

16

-

587,860

 




Deferred Tax Liability


793,000

-





Total assets less liabilities


1,204,609

288,016





Capital and reserves




Share capital

18

2,341,110

1,597,031

Share premium


3,468,944

876,347

Share options reserve


32,499

18,788

Retained earnings


(4,637,944)

(2,204,150)




Total equity and liabilities


1,204,609

288,016

 

 

 

Statement of Cash Flows

 

GROUP


 

 

31 Jan 2023


Note

 

£

Cash flows from operating activities




Loss for the year



(1,139,640)

Adjustments for:




Depreciation



172,284

Share based payment expense



13,711

Net finance expense



247,983

Write-off of assets under construction



39,878

Write-off of stocks



7,393

Increase in trade and other receivables



(143,568)

Increase in trade and other payables



344,604





Net cash outflow from operating activities

19

 

(457,354)

 




Investing activities




Cash from acquisition



29,563

Additional investments prior to DJT acquisition



(1,476,598)

 


 

 

Net cash outflow from investing activities



(1,446,944)





Financing activities




Proceeds from loans and borrowings



1,888,845

Repayment of loans and borrowings



(40,000)

Proceeds from issue of ordinary shares



74,290





Net cash inflow from financing activities


 

1,923,135





Net decrease in cash and cash equivalents



18,837

Cash and cash equivalents at beginning of period



-

Cash and cash equivalents at end of year


 

18,837

 

 

-Ends-

 

The Directors of the Company accept responsibility for the contents of this announcement.

 

ANANDA DEVELOPMENTS PLC

+44 (0)7463 686 497


ir@anandadevelopments.com

Chief Executive Officer


Melissa Sturgess




Finance Director


Jeremy Sturgess-Smith




SP ANGEL CORPORATE FINANCE LLP

+44 (0)20 3470 0470



Corporate Finance


Richard Morrison


Harry Davies-Ball


 


Corporate Broking


Abigail Wayne


Rob Rees


 

 

About Ananda Developments

 

Ananda is an AQSE-listed company whose ambition is to be a leading provider of cannabinoid-based medicines for the treatment of complex, chronic inflammatory pain conditions.

 

For more information, please visit: https://anandadevelopments.com/

 

Market Abuse Regulation (MAR) Disclosure

 

The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

 

 

 

 

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