Urbanise com : FY23 Financial Report

For personal use only

Annual Financial Report

For the year ended 30 June 2023

Urbanise.com Limited

ABN 70 095 768 086

1 URBANISE.COM LIMITED ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2023

For personal use only

CORPORATE INFORMATION

Company Directors

Sam Cuccurullo

Almero Strauss

Simon Lee

Tod McGrouther

Darc Rasmussen

Company Secretary

Kim Clark

Boardroom Pty Limited

Suite 2227, Level 22, 127 Creek Street

Brisbane QLD 4000

Principal Registered Office and Postal address Ground Floor

201 Miller Street

North Sydney NSW 2060

ASX Code

UBN

www.urbanise.com

Share Registry

Boardroom Smart Business Solutions

Level 8, 210 George St

Sydney NSW 2000

Bankers

HSBC Australia Bank Limited

Ground Level, 271 Collins Street

Melbourne VIC 3000

Auditors

A D Danieli Audit Pty Ltd

Level 1, 261 George St

Sydney NSW 2000

2 URBANISE.COM LIMITED ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2023

For personal use only

Contents

Table of Contents
Appendix 4E	4
Chairman's Report	6
CEO's Report	7
Directors' Report	9
Directors' Report - Audited Remuneration Report	18
Auditor's Independence Declaration	25
Corporate Governance Statement	26
Consolidated Statement of Comprehensive Income	27
Consolidated Statement of Financial Position	28
Consolidated Statement of Changes in Equity	29
Consolidated Statement of Cash Flows	30
Notes to the Financial Statements	31
Directors' Declaration	70
Independent Auditor's Report	71
Additional Shareholder Information	77

3 URBANISE.COM LIMITED ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2023

For personal use only

APPENDIX 4E

Reporting period

Report for the financial year ended 30 June 2023.

Previous corresponding period is the financial year ended 30 June 2022.

Results for announcement to the market
	2023	2022
	$A'000	$A'000	Up/ Down	% Movement
Revenue from ordinary activities	12,850	12,665	Up	1.5%
Loss from ordinary activities after tax attributable	(5,665)	(5,896)	Down	3.9%
to members
Net loss for the period attributable to members	(5,665)	(5,896)	Down	3.9%

	30 June 2023	30 June 2022
Net tangible assets per ordinary security	(0.08) cents per share	1.08 cents per share

Dividends

There have been no dividends declared for the financial year ended 30 June 2023 (2022: nil). No interim dividends have been declared for the financial year ended 30 June 2023. There are no dividend or distribution reinvestment plans in operation.

Consolidated Statement of Comprehensive Income

Refer to the attached statement and relevant notes.

Consolidated Statement of Financial Position

Refer to the attached statement and relevant notes.

Consolidated Statement of Cash Flows

Refer to the attached statement and relevant notes.

4 URBANISE.COM LIMITED ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2023

For personal use only

APPENDIX 4E

Statement of accumulated losses
	Consolidated Entity
	2023	2022
	$A'000	$A'000
Balance at beginning of financial year	(98,621)	(93,246)
Net loss attributable to members of the parent entity	(5,665)	(5,896)
22	521
Adjustment of prior year share-based payments
Total available for appropriation	(104,264)	(98,621)
-	-
Dividends paid
Balance at end of financial year	(104,264)	(98,621)

Gain or loss of control of entities

There has been no loss of control of any entity by the Urbanise Group during the financial year ended 30 June 2023 (FY2023) while Urbanise.com Software Trading LLC was established and became part of the group during FY2023.

Details of associates and joint venture entities

There are no associates or joint ventures within the Urbanise Group.

Significant information relating to the entity's financial performance and financial position

On 17 May 2023, Urbanise successfully completed a placement of $3,500,000 from new and existing institutional investors and sophisticated investors for the issue of 7,000,000 fully paid ordinary shares. The shares were allotted in two tranches and were completed on 24 May 2023 and 16 June 2023 respectively.

Commentary on the results for the period

During FY2023, Urbanise delivered sales revenue growth of 1.5% while the net loss reduced by 3.9%

Sales revenue

Total sales revenue growth was up by 1.5% to $12.85 million (FY2022: $12.67 million). Licence revenue increased to $11.16

million (FY2022: $10.99 million) while professional fees increased to $1.69 million (FY2022: $1.67 million).

Loss before tax

The reported loss before tax decreased from $5.90 million to $5.66 million (3.9% improvement).

Audit of the financial report

This Annual Financial Report has been audited.

The Audit has been completed

The Annual Financial Report contains an Independent Audit Report which is Unmodified.

Signed

Sam Cuccurullo

Chairman

22nd August 2023

5 URBANISE.COM LIMITED ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2023