REG-Acuity RM Group Plc: Final Results

Acuity RMAnnouncement

28/09/2023 08:00

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 & Broker)                                       www.whirelandplc.com/capital-markets  
 Mike Coe / Sarah Mather                                           020 7220 1666                         
 Peterhouse Capital Limited Joint broker                                                                 
 Lucy Williams / Duncan Vasey                                      020 7469 0936                         
 Clear Capital Markets Limited (Joint Broker)                      020 3869 6080                         
 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.



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