Accesso Technology Group PlcLSE: ACSO

Preliminary Results Audit Update

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Accesso Technology Group PLC
27 March 2018
 

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

This information is provided by RNS
The company news service from the London Stock Exchange
 
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