IntelliAM AI Plc

Earnings Release • Sep 25, 2024

National Storage Mechanism | Additional information

RNS Number : 5214F

IntelliAM AI PLC

25 September 2024

25 September 2024

IntelliAM AI plc

("IntelliAM" or the "Company")

Audited results FY24

IntelliAM AI plc (AQSE: INT), the software company leveraging the power of AI and machine learning in the manufacturing industry announces its audited results for the year ended 31 March 2024 (FY24), which are set out below. The reporting period covers the period from incorporation on 10 July 2023 until 31st March 2024 and prior to its listing on the Aquis exchange on 3 July 2024 and its acquisition of 53 Degrees North Engineering Ltd (53DN) on 4 July 2024.

Future reporting periods will include the financial performance of 53DN. As per the admission document, dated 26 June 2024 a copy of which is available at https://intelliam.ai/reports-presentations/, the unaudited revenue of 53DN, which is now the Group's Consulting division, for the year to 31st March 24 was £2,776,253 and a post- tax profit of £649,317.

Since listing on the Aquis Exchange in July 2024 and raising gross proceeds of £5.1m, the Company is pleased to have reported ongoing momentum in both divisions, with the following highlights:

·    DIF Lighthouse Funding Award of around £263,000 for a research project to be

completed in the Company's current financial year;

·    A significant extension to an existing agreement with a global leader in beverage alcohol across more than 35 maltings sites in the UK worth a minimum of at least

£100,000 per annum over the next two years; and

·    Contracts for 3 large Hovis sites for the Company's consultancy reliability services and project services for all Hovis manufacturing sites worth in excess of £100,000 over a 12-month period.

The Company intends to announce interim results for the 6 months to 30 September 2024 in mid-November.

Enquiries:
IntelliAM AI plc Tom Clayton, Chief Executive Officer Daud Khan, Chief Financial Officer	+44 114 299 5007
Oberon Capital - AQSE Corporate Adviser and Broker Adam Pollock Mike Seabrook Jessica Cave	+44 203 179 5300

Square1 Consulting - Financial PR David Bick	+44 207 929 5599 +44 7831 381201

Below is an excerpt of the accounts, the full report and accounts are available at the following link https://intelliam.ai/reports-presentations/

INTELLIAM AI PLC

(FORMERLY KNOWN AS INTELLIAM AI LIMITED) PROFIT AND LOSS ACCOUNT

FOR THE PERIOD ENDED 31 MARCH 2024

Period from 10 July

2023 to

31 March

2024

Notes                                              £

Turnover                                                                                                                                                 3                                     105,510

Administrative expenses                                                                                                                                                          (335,552)

Loss before taxation                                                                                                                                                                (230,042)

Tax on loss                                                                                                                                              6                                       31,580

Loss for the financial period                                                                                                                                                 (198,462)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

INTELLIAM AI PLC (FORMERLY KNOWN AS INTELLIAM AI LIMITED) BALANCE SHEET AS AT 31 MARCH 2024
Fixed assets	Notes	£	2024 £
Intangible assets	8		270,000
Tangible assets	9		4,687
Current assets			274,687
Debtors	10	76,347
Cash at bank and in hand		90,677
		167,024
Creditors: amounts falling due within one year	11	(176,764)
Net current liabilities			(9,740)
Total assets less current liabilities			264,947
Provisions for deferred tax	7		31,580
Net assets			296,527
Capital and reserves Called up share capital	12		313,723
Share premium account	13		181,266
Profit and loss reserves	13		(198,462)
Total equity			296,527

INTELLIAM AI PLC

(FORMERLY KNOWN AS INTELLIAM AI LIMITED)

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 MARCH 2024

		Share capital		Share   Premium   account		Profit and loss  reserves	Total
	Notes	£		£		£	£
Balance at 10 July 2023		-		-		-	-
Period ended 31 March 2024: Loss and total comprehensive income		-		-		(198,462)	(198,462)
Issue of share capital	12	313,723		181,266		-	494,989
Balance at 31 March 2024		313,723		181,266		(198,462)	296,527

INTELLIAM AI PLC (FORMERLY KNOWN AS INTELLIAM AI LIMITED) STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2024
	Notes	£	2024 £
Cash flows from operating activities Cash absorbed by operations	18		(87,057)
Investing activities Purchase of tangible fixed assets	9	(4,766)
Net cash used in investing activities			(4,766)
Financing activities Proceeds from issue of shares	12	182,500
Net cash generated from/(used in) financing activities			182,500
Net increase in cash and cash equivalents			90,677
Cash and cash equivalents at beginning of period			-
Cash and cash equivalents at end of period			90,677

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