Final Results

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		[phone]
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) Andrew Blaylock		020 3869 6080

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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