16
August 2024
Sorted Group Holdings
Plc
("Sorted", the "Company" or the "Group")
Trading subsidiary audited
results for the fifteen months ended 31 December
2023
Sorted (AIM: SORT) announces that the audited
results for Sorted Group Limited ("SGL") for the 15 months ended 31
December 2023 (the "Period") have been filed at Companies
House and will be available on the Group's website. SGL is a 100
per cent. subsidiary of Sorted Holdings Limited ("SHL"), which in-turn is a wholly owned
subsidiary of Sorted.
Highlights
- Revenue
for the Period of £6.72 million (12 months ended 30 September 2022
("FY 22"): £5.26 million).
- Loss
before tax for the Period of £11.72 million (FY 22: £18.62
million).
- Cash as
at 31 December 2023 of £0.32 million (FY 22: £6.82
million).
- Post Period, on 19 February 2024
Sorted completed its acquisition of SHL with the enlarged group
successfully admitting to trading on AIM on the same
day.
- Creditors due within one
year consists primarily of the intercompany balance between Sorted
Group Limited and Sorted Holdings Limited. This is a historical
balance arising through distributing external funding from Sorted
Holdings Limited. This was because the external funding was
obtained by Sorted Holdings Limited, but the utilisation of the
funding occurred in Sorted Group Limited, as the trading entity. In
the accounts of Sorted Holdings Limited, there is an equal gross
asset. The liability in Sorted Group Limited and the asset in
Sorted Holdings limited is eliminated in the consolidated accounts
of Sorted Holdings Limited. Consequently, this liability does not
exist in the consolidated accounts of Sorted Holdings Limited or
Sorted Group Holdings plc. The sale of Sorted Holdings
Limited to Sorted Group Holdings plc for £66.67 on February 16th,
2024 does not impact this balance. Consequently, the balance
remains a liability in the accounts of Sorted Group Limited and an
asset in the accounts of Sorted Holdings Limited. This will remain
the case until settled or formally written off, bringing the
balance to zero on both sides. Sorted Holdings Limited will not
seek to recover this amount. As stated above, the elimination of
this intergroup balance results in no related liability (or asset)
existing in the consolidated accounts of Sorted Holdings Limited
and Sorted Group Holdings plc.
For further information please
contact:
Sorted Group Holdings plc
Tel: +44 (0)3300 555 284
Simon Wilkinson, Chairman
Allenby Capital Limited (Nominated
Adviser)
Tel: +44 (0)20 3328 5656
David Hart
Vivek Bhardwaj
Turner Pope Investments (TPI) Ltd
(Broker)
Tel: +44 (0)20 3657 0050
James Pope
Andy Thacker
About Sorted
Sorted's Delivery Experience
supports retailers in providing exceptional delivery experiences
and analysing post-purchase performance. It enables customers to
track deliveries and returns or exchange of parcels with
ease.
Founded more than a decade ago,
Sorted is trusted by leading retailers - such as Asda, ASOS and
M&S - to make customer purchase experiences a
differentiator.
www.sorted.com
@SortedOfficial
Media contact - Shaun Weston - shaun.weston@sorted.com