Last checked at 27 Mar 2018 07:00
27 March 2018
accesso® Technology Group plc
("accesso" or the "Group")
Preliminary Results Audit Update
accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider to leisure, entertainment hospitality, attractions and cultural markets, announces that further to the publication of its unaudited preliminary results on 21 March 2018, the Group's audit process for 2017 has now completed.
As part of this process, the Group has reclassified a liability of $1.3m originally included within "Trade and other payables" to "Other reserves", which results in the Group's Net Assets as at 31 December 2017 increasing by $1.3m from the number reported in the unaudited statements. The relevant revised information is included for convenience herewith:
Consolidated statement of financial position
as at 31 December 2017
Registered Number: 03959429 |
| 31 December 2017 |
| 31 December 2016 |
|
| $000 |
| $000 |
Assets |
|
|
|
|
Non-current assets |
|
|
|
|
Intangible assets |
| 198,298 |
| 81,612 |
Property, plant and equipment |
| 3,400 |
| 3,494 |
Deferred tax assets |
| 8,937 |
| 6,008 |
|
| 210,635 |
| 91,114 |
|
|
|
|
|
Current assets |
|
|
|
|
Inventories |
| 506 |
| 491 |
Trade and other receivables |
| 19,761 |
| 10,232 |
Income tax receivable |
| - |
| 681 |
Cash and cash equivalents |
| 28,668 |
| 5,866 |
|
| 48,935 |
| 17,270 |
|
|
|
|
|
Liabilities |
|
|
|
|
Current liabilities |
|
|
|
|
Trade and other payables |
| 49,874 |
| 11,242 |
Finance lease liabilities |
| 9 |
| 54 |
Income tax payable |
| 613 |
| - |
|
| 50,496 |
| 11,296 |
|
|
|
|
|
Net current (liabilities) / assets |
| (1,561) |
| 5,974 |
|
|
|
|
|
Non-current liabilities |
|
|
|
|
Deferred tax liabilities |
| 14,629 |
| 9,990 |
Finance lease liabilities |
| - |
| 9 |
Other non-current liabilities |
| 3,024 |
| - |
Borrowings |
| 16,140 |
| 9,298 |
|
| 33,793 |
| 19,297 |
|
|
|
|
|
Total liabilities |
| 84,289 |
| 30,593 |
|
|
|
|
|
Net assets |
| 175,281 |
| 77,791 |
|
|
|
|
|
Shareholders' equity |
|
|
|
|
Called up share capital |
| 411 |
| 357 |
Share premium |
| 105,207 |
| 28,150 |
Own shares held in trust |
| (1,163) |
| (1,163) |
Other reserves |
| 14,453 |
| 9,242 |
Retained earnings |
| 39,820 |
| 29,919 |
Merger relief reserve |
| 19,641 |
| 14,540 |
Translation reserve |
| (3,088) |
| (3,254) |
|
|
|
|
|
Total shareholders' equity |
| 175,281 |
| 77,791 |
Consolidated statement of changes in equity
for the financial year ended 31 December 2017
|
| Share capital | Share premium | Retained earnings | Merger relief reserve | Other reserves | Own shares held in trust | Translation reserve |
| Attributable to equity holders |
| Non-controlling interest |
| Total | ||||||
|
| $000 | $000 | $000 | $000 | $000 | $000 | $000 |
| $000 |
| $000 |
| $000 | ||||||
Balance at 31 December 2016 |
| 357 | 28,150 | 29,919 | 14,540 | 9,242 | (1,163) | (3,254) |
| 77,791 |
| - |
| 77,791 | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Comprehensive income for the year |
|
|
|
|
|
|
|
|
|
| ||||||||||
Profit for period |
| - | - | 9,901 | - | - | - | - |
| 9,901 |
| - |
| 9,901 | ||||||
Other comprehensive income |
| - | - | - | - | - | - | 166 |
| 166 |
| - |
| 166 | ||||||
Total comprehensive income for the year |
| - | - | 9,901 | - | - | - | 166 |
| 10,067 |
| - |
| 10,067 | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Contributions by and distributions to owners |
|
|
|
|
|
|
|
| ||||||||||||
Issue of share capital |
| 54 | 77,057 | - | 5,101 | - | - | - |
| 82,212 |
| - |
| 82,212 | ||||||
Share-based payments |
| - | - | - | - | 1,089 | - | - |
| 1,089 |
| - |
| 1,089 | ||||||
Equity-settled deferred consideration |
| - |
| - |
| 1,314 |
| - |
| 1,314 |
| - |
| 1,314 | ||||||
Change in tax rates |
| - | - | - | - | (2,213) | - | - |
| (2,213) |
| - |
| (2,213) | ||||||
Share option tax credit |
| - | - | - | - | 5,021 | - | - |
| 5,021 |
| - |
| 5,021 | ||||||
Total contributions by and distributions by owners |
| 54 | 77,057 | - | 5,101 | 5,211 | - | - |
| 87,423 |
| - |
| 87,423 | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Balance at 31 December 2017 |
| 411 | 105,207 | 39,820 | 19,641 | 14,453 | (1,163) | (3,088) |
| 175,281 |
| - |
| 175,281 | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Balance at 31 December 2015 |
| 353 | 26,841 | 22,169 | 14,540 | 3,470 | (2,136) | (1,675) |
| 63,562 |
| 2 |
| 63,564 | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Comprehensive income for the year |
|
|
|
|
|
|
|
|
| |||||||||||
Profit for period |
| - | - | 7,526 | - | - | - | - |
| 7,526 |
| - |
| 7,526 | ||||||
Other comprehensive income |
| - | - | - | - | - | - | (1,579) |
| (1,579) |
| - |
| (1,579) | ||||||
Total comprehensive income for the year |
| - | - | 7,526 | - | - | - | (1,579) |
| 5,947 |
| - |
| 5,947 | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Contributions by and distributions to owners |
|
|
|
|
|
|
|
|
| |||||||||||
Issue of share capital |
| 4 | 1,309 | - | - | - | - | - |
| 1,313 |
| - |
| 1,313 | ||||||
Share-based payments |
| - | - | - | - | 987 | - | - |
| 987 |
| - |
| 987 | ||||||
Reduction of shares held in trust |
| - | - | 222 | - | - | 973 | - |
| 1,195 |
|
|
|
1,195 | ||||||
Removal of NCI |
| - | - | 2 | - | - | - | - |
| 2 |
| (2) |
| - | ||||||
Change in tax rates |
| - | - | - | - | (11) | - | - |
| (11) |
| - |
| (11) | ||||||
Share option tax credit |
| - | - | - | - | 4,796 | - | - |
| 4,796 |
| - |
| 4,796 | ||||||
Total contributions by and distributions by owners |
| 4 | 1,309 | 224 | - | 5,772 | 973 | - |
| 8,282 |
| (2) |
| 8,280 | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Balance at 31 December 2016 |
| 357 | 28,150 | 29,919 | 14,540 | 9,242 | (1,163) | (3,254) |
| 77,791 |
| - |
| 77,791 | ||||||
- ENDS -
For further information, please contact:
accesso Technology Group plc | +44 (0)118 934 7400 |
Tom Burnet, Executive Chairman Steve Brown, Chief Executive Officer |
|
John Alder, Chief Financial Officer |
|
|
|
FTI Consulting, LLP | +44 (0)20 3727 1000 |
Matt Dixon, Adam Davidson |
|
|
|
Canaccord Genuity Limited Simon Bridges, Martin Davison, Richard Andrews | +44 (0)20 7523 8000 |
Numis Securities Limited |
+44 (0)20 7260 1000 |
Simon Willis, Mark Lander |
|