Page 94 - Beeks Financial Cloud Group Annual Report 2021

92 Beeks Financial Cloud Group PLC For the year ended 30 June 2021
Beeks Financial Cloud Group PLC
Notes to the Consolidated Financial Statements
Notes to the Consolidated Financial Statements

2021 2020
£000 £000

Profit before tax for the year 1,255 575
Acquisition costs 140 205
Share Based payments 546 312
Amortisation on acquired intangibles 806 236
Exceptional non-recurring costs 165 61

Impairment of Intangibles assets / goodwill 994 -
Grant income (309) (59)
Gain on revaluation of contingent consideration (1,989) -
Tax effect 34 (45)
Underlying profit for the year 1,642 1,285

Weighted average number of shares in issue - basic 52,276,498 50,942,258

Weighted average number of shares in issue - diluted 54,915,279 52,409,256

Underlying earnings per share - basic 3.14 2.52
Underlying earnings per share - diluted 2.99 2.45

Included in the weighted average number of shares for the calculation of underlying diluted EPS are share options
outstanding but not exercisable. It is management’s intention that the Company will meet the challenging growth
targets therefore, based on management expectations, the share options are included in the calculation of
underlying diluted EPS.

FINANCE
25. SUBSIDIARIES
The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries
held by the company In accordance with the accounting policy described in note 1.

The subsidiary undertakings are all 100% owned, with 100% voting rights.

Principal place
Country of of business/
Company name incorporation Registered office Activity

Beeks Financial Cloud Co Ltd Japan FARO 1F, 2-15-5, Non-trading
Minamiaoyama, Minato-Ku,
Tokyo, Japan.
Beeks FX VPS USA Inc. Delaware, USA 874 Walker Road, Suite C, Non-trading
Dover, Kent, Delaware, 19904,
USA.
Beeks Financial Cloud Limited Scotland Lumina Building, 40 Ainslie Cloud Computing
Road, Ground Floor, Hillington Services
Park, Glasgow, UK, G52 4RU
Velocimetrics Limited England Birchin Court, 230 Park Avenue Software Services
20 Birchin Lane, Suite 300 West,
London, England, EC3V 9DU
Velocimetrics Inc New York, USA 230 Park Avenue, 10th Floor, Software Services
New York 10169, USA.