TIDMACRM
28 September 2023
Acuity RM Group plc
('ARM' or the 'Company')
Investee Company Final results
Acuity RM Group plc (AIM:ACRM) announces that its wholly owned operating
subsidiary, Acuity Risk Management Limited ("Acuity") which it acquired by way
of a reverse takeover in April 2023 has published its results for its year ended
31 March 2023. Acuity's financial statements are set out below and will be
available on the Company's website https://acuityrmgroup.com/investors.
Acuity RM Group plc will publish its consolidated interim results to 30 June
2023 on 28 September 2023, which will include 10 weeks post acquisition
performance of Acuity.
Angus Forrest, CEO of ACRM commented: "These results relate to a post
-acquisition period and have been announced to meet regulatory requirements. The
results themselves are in line with our expectation at the time of Acuity's
acquisition."
For further
information please
contact:
Acuity RM Group plc www.acuityrmgroup.com
Angus Forrest +44 (0) 20 3582 0566
WH Ireland (NOMAD & www.whirelandplc.com/capital-markets
Broker)
Mike Coe / Sarah 020 7220 1666
Mather
Peterhouse Capital
Limited Joint
broker
Lucy Williams / 020 7469 0936
Duncan Vasey
Clear Capital 020 3869 6080
Markets Limited
(Joint Broker)
Andrew Blaylock
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31
MARCH 2023
2023 2022
£ £
Revenue 1,753,787 1,557,698
Cost of sales (196,164) (121,717)
Gross profit 1,557,623 1,435,981
Other operating income - 43,673
Administrative expenses (2,175,206) (2,004,920)
Loss from operations (617,583) (525,266)
Finance income 661 251
Finance expense (22,494) (19,507)
Loss before tax (639,416) (544,522)
Tax credit/(expense) 105,498 -
Loss for the year (533,918) (544,522)
Total comprehensive income (533,918) (544,522)
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2023
Assets 2023 2022
£ £
Non-current assets
Property, plant and equipment 10,064 14,406
Intangible assets 2,052,331 2,092,456
Trade and other receivables - 17,496
Current assets 2,062,395 2,124,358
Trade and other receivables 429,151 523,549
Cash and cash equivalents 303,776 566,637
732,927 1,090,186
Total assets 2,795,322 3,214,544
Liabilities
Non-current liabilities
Trade and other liabilities 181,080 167,978
Loans and borrowings 199,980 258,312
Current liabilities 381,060 426,290
Trade and other liabilities 1,571,078 1,469,202
Loans and borrowings 67,800 50,850
1,638,878 1,520,052
Total liabilities 2,019,938 1,946,342
Net assets 775,384 1,268,202
Issued capital and reserves
Share capital 96,000 96,000
Share premium reserve 2,306,500 2,306,500
Other reserves 41,100 -
Retained earnings (1,668,216) (1,134,298)
TOTAL EQUITY 775,384 1,268,202
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023
Cash flows from operating activities 2023 2022
£ £
Loss for the yearAdjustments for (533,918) (544,522)
Amortisation of intangible assets 173,309 198,684
Depreciation of tangible assets 8,027 7,981
Loss on disposal of tangible assets (684) (448)
Government grants - (43,673)
Interest paid 22,494 19,507
Interest received (661) (251)
Movements in working capital: (331,433) (362,722)
Decrease in trade and other receivables 111,894 102,853
(Decrease)/increase in trade and other payables (73,419) 15,886
Increase in deferred revenue 164,304 155,269
Cash generated from operations (128,654) (88,714)
interest paid - (169)
Net cash used in operating activities (128,654) (88,883)
Cash flows from investing activities
Purchases of intangible fixed assets (133,184) (203,493)
Purchase of tangible fixed assets (4,569) (7,065)
Sale of tangible fixed assets 1,568 1,490
Interest received 661 251
Net cash used in investing activities (135,524) (208,817)
Cash flows from financing activities
Issue of ordinary shares - 125,000
New loans 65,193 339,000
Repayment of loans (63,876) (17,050)
Repayment of directors loans - (10,400)
Net cash from financing activities 1,317 436,550
Net (decrease)/increase in cash and cash equivalents (262,861) 138,850
Cash and cash equivalents at the beginning of year 566,637 427,787
Cash and cash equivalents at the end of the year 303,776 566,637
Note to Editors
Acuity RM Group plc
Acuity RM Group plc (AIM: ACRM), previously known as Drumz plc, is an
established provider of risk management services. It's award-winning STREAM®
software platform, which collects data about organisations to improve business
decisions and management. It is used by around 70 organisations in markets
including government, utilities, defence, broadcasting, manufacturing and
healthcare.
The Company is focused on delivering long term, sustainable growth in
shareholder value. In the short to medium term this is expected to come from
organic growth and thereafter may also come from complementary acquisitions.
This information was brought to you by Cision http://news.cision.com
END
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