TIDMKING
Igraine Plc
AQSE: KING
("Igraine" or "the Company")
Audited Financial Statements for the Year Ended 31 December 2021
Board Changes
The Company is pleased to announce, further to the release of the unaudited
preliminiary results, announced on 30 June 2022, that the audited financial
results are now available at https://igraineplc.com/. A summary of the
financial information is set out below.
The Company also like to announce that Professor Sir Christopher Evans OBE,
Martin Walton, Burns Singh Tennent-Bhohi and Richard Walker have resigned with
immediate effect.
The Directors of the Company, who have issued this RIS announcement after due
and careful enquiry, accept responsibility for the contents of this
announcement.
Enquiries:
Company:
Simon Grant-Rennick (Non-Executive Director)
info@igraineplc.com
AQSE Growth Market Corporate Adviser
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
Tel: +44 (0) 207 469 0930
Statement of Profit or Loss
for the year ended 31 December 2021
2021 2020
£ £
CONTINUING OPERATIONS
Other operating
income
19,824 61,556
Loss on revaluation of
investments
(12,798) (147,043)
Administrative
expenses
(407,615) (294,073)
OPERATING
LOSS
(400,589) (379,560)
Impairment of loans and trade
receivables (93,405)
(41,229)
Interest
Income
- (23,657)
Interest payable at 7.1% on preference
Shares
- (163,450)
Conversion of Preference shares to Ordinary
shares
- 4,548,821
Amortisation of preference
shares
- (697,067)
(LOSS)/PROFIT BEFORE INCOME TAX
(493,994) 3,291,172
Income
tax
- -
(LOSS)/PROFIT FOR THE YEAR
(493,994) 3,291,172
Earnings per share expressed
in pence per share:
Basic
-0.01 0.11
Diluted
-0.01 0.11
Statement of Profit or Loss and Other Comprehensive Income
for the year ended 31 December 2021
2021 2020
£ £
(LOSS)/PROFIT FOR THE
YEAR
(493,994) 3,291,172
Other comprehensive
income
- -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
(493,994)
3,291,172
Statement of Financial Position
31 December 2021
2021 2020
£ £
ASSETS
NON-CURRENT ASSETS
Property, plant and
equipment
- 1,048
Investments
615,113 15,113
615,113 16,161
CURRENT ASSETS
Trade and other
receivables
154,067 115,784
Investments
7,205 48,201
Cash and cash equivalents
904,129 7,811
1,065,401 171,796
TOTAL
ASSETS
1,680,514 187,957
EQUITY
SHAREHOLDERS' EQUITY
Called up share
capital
588,786 554,616
Share
premium
1,946,995 26,818
Other
reserves
46,116 -
Retained
earnings
(1,172,705) (678,711)
TOTAL
EQUITY
1,409,192 (97,277)
LIABILITIES
NON-CURRENT LIABILITIES
Financial liabilities - borrowings
Interest bearing loans and
borrowings
38,464 50,000
URRENT LIABILITIES
Interest bearing loans and
borrowings
10,649 -
Trade and other
payables
222,209 235,234
TOTAL
LIABILITIES
271,322 285,234
TOTAL EQUITY AND
LIABILITIES
1,680,514 187,957
Statement of Changes in Equity
for the year ended 31 December 2021
Called up
share Share Other
Retained Total
capital premium reserves
earnings equity
£ £ £
£ £
Balance at 1 January 2020
71,008 - -
(3,969,883) (3,898,875)
Changes in equity
Profit for the
year
- - -
3,291,172 3,291,172
Total comprehensive income
- - -
3,291,172 3,291,172
Issue of share capital
483,608 26,818
- - 510,426
Balance at 31 December 2020
554,616 26,818 -
(678,711) (97,277)
Changes in equity
Deficit for the
year
- - -
(493,994) (493,994)
Warrant and Option
charge
- 46,116 -
46,116
Total comprehensive income
- - 46,116
(493,994) (447,878)
Transaction
cost
- (178,153)
- - (178,153)
Issue of share capital
34,170 2,098,330
- - 2,132,500
Balance at 31 December 2021 588,786
1,946,995 46,116 (1,154,705)
1,409,192
Statement of Cash Flows
for the year ended 31 December 2021
2021 2020
£ £
Cash flows from operating activities
Cash generated from
operations
(498,688) (140,467)
Net cash from operating
activities
(498,688) (140,467)
Cash flows from investing activities
Purchase of tangible fixed
assets
- (591)
Purchase of fixed asset
investments
(600,000) -
Sale of fixed asset
investments
13,431 -
Increase in loan
payable
- 50,000
Decrease in loan
receivables
- 48,813
Net cash from investing
activities
(586,569) 98,222
Cash flows from financing activities
Loan repayments in
year
(887) -
Share issue (net of share issue costs)
1,982,462 50,000
Net cash from financing activities
1,981,575 50,000
Increase in cash and cash equivalents
896,318 7,755
Cash and cash equivalents at beginning of year
7,811
56
Cash and cash equivalents at end of year
904,129 7,811
END
(END) Dow Jones Newswires
July 18, 2022 02:46 ET (06:46 GMT)
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