TIDMANA
RNS Number : 8031H
Ananda Developments PLC
31 July 2023
31 July 2023
ANANDA DEVELOPMENTS PLC
("Ananda" or the "Company")
Completion of Audit, Publication of Annual Report and Accounts
and Notice of Annual General Meeting
Further to the announcement of its 2022/23 unaudited preliminary
results on 13 July 2023, Ananda announces that the audit for the
year ended 31 January 2023 has now been completed. Adjustments have
been made to the previously notified Consolidated Statement of
Cashflows and Balance Sheet, which are reflective of adjustments
made a part of a review of the acquisition of DJT Group Limited,
revised tables are set out below.
The Company's Annual Report and Accounts for the year ended 31
January 2023, together with a Notice of Annual General Meeting, has
been published on the Company's website. The notice of Annual
General Meeting have also today been posted to, or emailed to,
shareholders as appropriate in accordance with the provision in the
Company's articles of association on electronic communications.
The Annual General Meeting is due to be held at the offices of
Shakespeare Martineau Llp, 6(th) Floor, 60 Gracechurch Street,
London, EC3V 0HR at 2.00pm on 24(th) August 2023.
Statement of Financial Position
GROUP
31 Jan 31 Jan
2023 2022
Note GBP GBP
Non-Current assets
Tangible Assets 10 1,762,468 -
Intangible Assets 12 4,470,376 -
Investments in subsidiaries - 2,252,192
------------ ------------
Total non-current assets 6,232,844 2,252,192
Current assets
Cash and cash equivalents 18,837 -
Assets under construction 47,080 -
Trade and other receivables 14 210,144 110,938
Total current assets 276,061 110,938
------------ ------------
Current liabilities
Trade and other payables 15 1,586,484 1,487,254
Convertible loan notes 16 2,924,812 -
Total current liabilities 4,511,296 2,075,114
------------ ------------
Non-current liabilities
Convertible loan notes 16 - 587,860
Deferred Tax Liability 793,000 -
Total assets less liabilities 1,204,609 288,016
============ ============
Capital and reserves
Share capital 18 2,341,110 1,597,031
Share premium 3,468,944 876,347
Share options reserve 32,499 18,788
Retained earnings (4,637,944) (2,204,150)
Total equity and liabilities 1,204,609 288,016
============ ============
Statement of Cash Flows
GROUP
31 Jan 2023
Note GBP
Cash flows from operating activities
Loss for the year (1,139,640)
Adjustments for:
Depreciation 172,284
Share based payment expense 13,711
Net finance expense 247,983
Write-off of assets under construction 39,878
Write-off of stocks 7,393
Increase in trade and other receivables (143,568)
Increase in trade and other payables 344,604
Net cash outflow from operating activities 19 (457,354)
--------------
Investing activities
Cash from acquisition 29,563
Additional investments prior to DJT
acquisition (1,476,598)
--------------
Net cash outflow from investing activities (1,446,944)
--------------
Financing activities
Proceeds from loans and borrowings 1,888,845
Repayment of loans and borrowings (40,000)
Proceeds from issue of ordinary shares 74,290
Net cash inflow from financing activities 1,923,135
--------------
Net decrease in cash and cash equivalents 18,837
Cash and cash equivalents at beginning -
of period
Cash and cash equivalents at end of
year 18,837
==============
-Ends-
The Directors of the Company accept responsibility for the
contents of this announcement.
ANANDA DEVELOPMENTS PLC +44 (0)7463 686 497
ir@anandadevelopments.com
Chief Executive Officer
Melissa Sturgess
Finance Director
Jeremy Sturgess-Smith
SP ANGEL CORPORATE FINANCE
LLP +44 (0)20 3470 0470
Corporate Finance
Richard Morrison
Harry Davies-Ball
Corporate Broking
Abigail Wayne
Rob Rees
About Ananda Developments
Ananda is an AQSE-listed company whose ambition is to be a
leading provider of cannabinoid-based medicines for the treatment
of complex, chronic inflammatory pain conditions.
For more information, please visit:
https://anandadevelopments.com/
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public do
main.
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END
NEXFLFVRDAILVIV
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