ACCESSO TECHNOLOGY GROUP PLC

Audit Report / Information • Mar 27, 2018

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RNS Number : 0043J

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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