The Power of a 
Single Platform. 
Data. Analytics. 
Decisions. Actions.
Rosslyn Data Technologies plc
Annual report and accounts 2015
Rosslyn Data Technologies plc
Rosslyn Data Technologies plc Annual report and accounts 2015 About us
Solving the big 
data challenge
Rosslyn Data Technologies helps organisations create new value 
from previously inaccessible data. Rosslyn’s patented technology 
has been designed specifically for business users to easily access 
complex data and turn it into meaningful information via the 
RAPid Big Data Cloud Analytics Platform.
The Group services its global list of clients from its headquarters 
in London, with US offices in Chicago, Denver and New York City. Rosslyn Data Technologies plc Annual report and accounts 2015 01
Highlights
Overview
IFC About us
01 Highlights 
02 At a glance
04 Chairman’s statement
05 Chief Executive Officer’s statement
Strategic report
06 Our business model
08 Our strategy
09  Ke y risks
11 Key performance indicators
12 Financial review
Corporate governance
14 Board of Directors
16 Directors’ report
18  Statement of Directors’ responsibilities 
19 Corporate governance report
21 Remuneration report
Financial statements
24 Independent auditor’s report
25  Consolidat ed st at ement  
of comprehensive income
26  Consolidat ed st at ement 
of financial position
27  Consolidated statement of changes 
in equity
28  Consolidated statement of cash flows
29  Notes to the consolidated 
financial statements 
45  Independent auditor’s report
46  Company balance sheet
47  Company reconciliation of movements 
in shareholders’ funds
48  Notes to the Company’s 
financial statements
52  Notice of Annual General Meeting
53  Explanatory notes to the Annual 
General Meeting notice
56  Shar eholder inf ormation
Operational and strategic highlights
 — Strategic partnership with a Big Four Consultancy which 
has been revenue generating from the outset and the 
pipeline is growing
 — Strategic wins with Coca-Cola Hellenic, CEVA Logistics 
and a global defence manufacturer
 — Total client numbers up by over 50%
 — Key hires made in the UK and the US, delivering 
operational scalability
Financial highlights
 — Group revenues up 37% to £2,826,034 (2014: £2,066,041)
 — Adjusted EBITDA * loss of £3,468,439 (2014: £2,516,741)
 — Loss before tax of £3,478,221 (2014: £3,111,733)
 — Net cash at 30 April 2015 of £4,712,730 (2014: £8,819,458)
 — Subscription revenue remains strong
 — Tight financial and operational management delivered 
a lower cash burn and loss than management expected
* Adjustment for share-based payment as shown within the Financial review.
Visit our website to find out more about 
the products and services we offer at
www.rosslyndatatechnologies.com
Chairman’s statement
Page 04
Business model
Page 06
+36.8%
Group revenues up 37% to £2,826,034
+50.4%
Total client numbers up by over 50% Rosslyn Data Technologies plc Annual report and accounts 2015
Overview
02
At a glance
2. RAPid then transforms and enriches this data providing the user with tools to build charts,  
tables and apps in order to visualise the information.
The Group’s founding management team has spent 
over five years developing and commercialising the 
Group’s data discovery platform, RAPid.
BI Apps Visualize Integrate Discover Enrich Analyze Cleanse
About RAPid
Big data benefits
We enable organisations of all sizes 
to easily access and turn complex 
data into meaningful information 
to support smarter decisions.
3. This is all performed over a secure cloud internet connection, giving access  
to the data from wherever you are.
1. RAPid extracts, combines and synchronises data from hundreds of sources.
Accelerate time to value from 
months to days by automating 
manual data processes
Empower business users to improve 
the quality and relevancy of data 
in real time
Accelerate the development, 
testing and deployment of big 
data analytical applications
Generate a faster  
return-on-investment on your 
existing big data assets
Reduce IT infrastructure costs 
and improve agility by taking 
big data projects into the cloud
Quickly integrate semi-structured 
and unstructured data without the 
need to code
Embracing the intelligent concept of 
“Fail fast, succeed faster,” Rosslyn Analytics’ 
award-winning RAPid Cloud Data Platform 
empowers you to: Rosslyn Data Technologies plc Annual report and accounts 2015 03
As data analysis becomes more mainstream, 
the Directors believe that every business that wishes 
to pursue data-driven decisions, at scale, will need 
to develop cost-effective analytical capabilities 
and processes.
According to the MarketsandMarkets study in 2013 more 
than 13% of companies have cloud analytics and Business 
Intelligence (BI) solutions and this is expected to reach 
50% by 2018. The cloud BI market is growing rapidly as 
compared to traditional on-premise BI solutions driven 
by significant growth in the amount of internal 
and external data.
These solutions are more flexible than traditional IT 
systems, reducing deployment time, requiring less storage 
space and having a high processing capacity. Both small 
and large enterprises are major adopters of cloud analytics 
services and the Directors expect this trend to continue 
for the next few years.
The overall cloud analytics market stands with a total 
revenue of $7.5bn in 2015, and is expected to grow to 
$23.1bn at a compound annual growth rate (CAGR) 
of 25.1% from 2015 to 2020.
The growth in data is well documented with the majority 
of industry analysts pointing towards exponential growth 
in consumer, M2M, mobile and enterprise data while industry 
players are basing their business models on 5–10x growth 
in volume of data over the next five years.
The Directors believe that the enterprise user base is 
increasingly recognising the return on investment from 
analysing their data.
IDC estimates that around a third of data by 2020 will 
be ‘‘useful data if tagged and analysed’’ . This equates to 
approximately 13,000 exabytes compared with total big 
data today of approximately 5,000 exabytes.
13%
13% of companies who are utilising cloud analytics
This figure is expected to grow to 50% by 2018.
$7.5bn
Cloud analytics market revenue
This figure is expected to grow to $23.1bn at a compound annual 
growth rate of 25.1% from 2015 to 2020.
1/3
The amount of useful data by 2020
This equates to approximately 13,000 exabytes compared to today 
with approximately 5,000 exabytes.
Our markets
Our technology
RAPid is built to accommodate data in all shapes and sizes, to support any analytics project.
Relational Database
Rosslyn Analytics has developed an advanced, highly optimized relational database built 
on Microsoft SQL Server that provides unrivalled performance and scalability for the largest 
and most demanding analytic workloads.
Data Storage Technologies
RAPid features cutting-edge NoSQL technologies such as Redis, Hadoop, MongoDB 
and ElasticSearch to power the staging, enrichment and caching of high volumes of data.
Infrastructure-as-a-Service Cloud Solutions
RAPid provides organisations with an Infrastructure-as–a-Service running on Azure, enabling 
clients to host applications on the platform. Rosslyn Data Technologies plc Annual report and accounts 2015
Overview
04
Chairman’s statement
Rosslyn Analytics is a fine example of British 
innovation. From its inception, Rosslyn Analytics 
wasn’t just one of the early originators of  
cloud-based analytics delivered as a service.”
Results
The financial year to 30 April 2015 was the first full year 
as a public company for Rosslyn Data Technologies plc 
after the listing on AIM in April 2014. I am delighted with the 
progress we have made in the year. Our task this year has 
been to deploy a significant element of the IPO funds into 
the business to allow a transformation to profitability and 
organic cash generation to take place. This task is not yet 
complete and there is further work to do in 2015–16 to 
achieve our goals but we have made a strong start.
Group revenue increased by 37% to £2.8m (2014: £2.1m). 
The second half of the year saw a growth rate of 50% on 
a year-on-year basis. As we have deployed funds into an 
enlarged product development team and sales and marketing 
we have seen an increase in losses at the EBITDA level. In 2015 
the losses increased to £3.4m (2014: £2.8m before exceptional 
items). This was somewhat less than we anticipated at the 
start of the year. 
We ended the year with net cash balances of £4.7m 
(2014: £8.8m). The consumption of cash is largely accounted 
for by the losses in the period and paying the remaining 
outstanding fees associated with the IPO. The Board believes 
that we have adequate cash resources to take the Group 
through to break-even and cash generation.
Strategy
The Group’s strategy remains unchanged from the time 
of our listing. We are committed to growing revenues 
through a dual-track strategy of direct sales and working 
with partners. The Group’s relationship with Xerox goes 
back to 2013. Our relationship continues to grow and we 
have confidence that this relationship will continue to 
flourish. They remain our single largest customer.
During the year we established a new partnership relationship 
with PricewaterhouseCoopers. This relationship is developing 
in an encouraging manner and I look forward to reporting 
on further progress next year. As a result of this relationship 
PricewaterhouseCoopers LLP stood down as auditors during 
the year. They took up their appointment in 2013 and acted 
as reporting accountants during our listing process and as 
auditors for the financial years 2013 and 2014. I would like 
to thank them on behalf of all shareholders for their help, 
support and objectivity. Grant Thornton UK LLP has replaced 
PricewaterhouseCoopers LLP (PwC) as auditors and we 
look forward to working with them.
Our direct sales operation has also had a successful year. We 
have had a number of notable wins in all the regions in which 
we operate – the UK, Continental Europe and the US. We are 
particularly excited by the opportunities we are discovering in 
North America in the education field. In January we signed a 
five year agreement with the Florida State University Board of 
Trustees to provide data analytics services to twelve universities 
in Florida. We are hopeful that we can continue to expand our 
footprint in this sector in the months ahead.
Board changes
I am delighted to welcome Roger Bullen to the Rosslyn 
family as a Director of the Company. He takes up his post 
as Chief Financial Officer on 1 October 2015. He has served with 
distinction as International Finance and Operations Director at 
Navigant and his operational experience will be extremely 
valuable to us as the business grows and develops. He replaces 
Francis Reid, who announced his departure in May. We are sorry 
to lose him and wish him well in the future. He has worked with 
Roger to establish a smooth handover. The Board would like to 
express its thanks to Francis for all his contribution to the Group’ s 
development and particularly in steering the IPO process.
Our staff
Our business would be nothing without our imaginative and 
hard-working staff. From the development team to the client 
support staff, it is an end-to-end effort. Each role is critical 
to our continued success. On behalf of the Board I would like 
to thank all of them for their outstanding efforts in the last 
year and look forward to working with them in the current year.
Outlook
I look forward with confidence to the 2015–16 financial year. 
We are seeing accelerated traction within our Direct Sales, 
with our clients investing in the benefits our innovative 
products are bringing to an extremely competitive market.
I am exceptionally pleased with the progress we have made 
within our Partnership strategy. Recent announcements 
from our Partners demonstrate the high regard major players 
within the industry hold Rosslyn and the RAPid technology 
platform. Converting these partnerships into healthy revenue 
streams is key for our growth and our future, but I am 
optimistic that these partnerships will deliver the results 
the Company and our shareholders deserve.
John O’Hara
Chairman
16 September 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 05
I look forward with confidence to the 2015–16 
financial year. We are seeing the benefits from 
the investments that we have made and the 
product suite is becoming extremely 
competitive in the market.”
2014–15 was our first full year as an AIM listed company 
and we have been able to make the significant investments 
required in developing our product suite on the RAPid 
platform and increasing our sales and marketing capabilities. 
Recruitment of quality software engineers and sales people 
with the requisite knowledge and experience was a challenge 
but we added 13 highly skilled members to the team. 
Revenues increased by a healthy 37% to £2.8m in the year 
with the majority coming from our direct sales team. We are 
starting to see considerable traction through the partnership 
route we adopted last year and we have developed a number 
of new partnership agreements. Some are more advanced 
than others, and not all will develop into material revenue 
streams, but the Board believes that this diversification of 
the revenue stream is important to attaining our strategic 
targets and will enable us to reduce the cost of client 
acquisition whilst accelerating our route to market.
Our gross margin remains strong at a healthy 84.3%, up 
by 1.2% from last year, and this trend is likely to continue 
as our revenues increase. I am also confident that our 
cash position is strong enough to see us through to 
positive cash flow.
Since the year end we have signed a series of new 
contracts. Notable amongst this new business are the 
contracts with our partners, which have brought a highly 
diversified client base and provide us with excellent 
opportunities to demonstrate the value of the RAPid 
platform to our partners’ clients.
I look forward with confidence to the 2015–16 financial 
year. We are seeing the benefits from the investments 
that we have made and the product suite is becoming 
extremely competitive in the market. 
The long-term nature of our contracts means the full effect 
of our investments will be with us for years to come.
I would like to join John O’Hara in thanking our employees, 
without whom none of this would be possible.
Charlie Clark
Chief Executive Officer
16 September 2015
Chief Executive Officer’s statement Rosslyn Data Technologies plc Annual report and accounts 2015 06
We have a history of RAPid delivery and seek to provide 
a high return on investment for clients. Our business model 
offers a strong recurring revenue stream, customer attrition 
is low and we believe the demand is growing.
Our product offering
Data extraction
The RAPid platform enables clients to collect data from 
multiple data sources. In a situation where data is being 
pulled from multiple sources, the Group’s RAPid extraction 
technologies and services are able to simultaneously 
extract and integrate data regardless of its format.
Data cleansing
Key source data, such as names and addresses, is often 
inaccurate due to misspelling, poor data input, duplication 
and missing fields and therefore of minimal value for any 
analytics project. The data cleansing technology within 
the RAPid platform enables the user to drill into the source 
data through the process of data mining and to then retag 
such items to enable greater consistency.
Data enrichment
Data that is currently analysed in a traditional analytical 
environment lacks contextual information and therefore 
provides a shallow perspective on performance, risk and 
opportunity. This provides the Group’s customers with 
a deeper, more dynamic and valuable insight into the 
business opportunities through the creation of an 
information network.
Visualisation
Data visualisation products make data more 
understandable for the end user. This is particularly 
useful when vast data sets are being utilised.
Intellectual property
How we deliver it
Highly skilled talent base
We have some of the brightest engineering 
talent developing the RAPid platform.
Research and development is done in house, 
and ongoing development of our IP is a key 
part of our growth strategy.
Strategic report
Our business model Rosslyn Data Technologies plc Annual report and accounts 2015 07
How we deliver it
Partnerships
Direct sales Dedicated sales team, comprising 
inside sales reps and direct sales 
reps, selling RAPid and associated 
products directly, handling the 
sales cycle from beginning to end.
The RAPid platform is used as 
the foundation for partnership 
route to market, with partners 
building applications on RAPid 
and using as part of their 
consulting toolkit.
Customers
SUBSCRIBE
Subscriptions
RAPid cloud 
delivery 
platform
Recurring revenue streams 
drive high returns and provide 
funds to further our team 
capabilities and skills.
Customers are supported 
by our client management 
team to onboard and 
expand our footprint 
within organisations. Rosslyn Data Technologies plc Annual report and accounts 2015 08
The Directors believe the Group is well positioned to pursue 
its growth strategy through five key initiatives.
New customer acquisitions 
in existing markets
Building on its reputation with existing customers, 
the Group plans to follow a more aggressive sales 
and marketing strategy through an increased sales 
force and enhanced branding within the geographies 
and industries in which it currently operates.
Product development
The Directors intend to develop the Group’s existing 
technologies by focusing on self-service, integration, 
cleansing and data enrichment. 
Partnerships
The Directors believe that a broadly based set of 
partnerships provides a diversified route to market. 
These partnership arrangements allow revenue to 
grow more quickly than through direct sales alone.
Geographic expansion
The Group intends to expand into further 
geographies by adding further customers 
and partners in different territories.
Growth within the existing  
client base
Typical customer engagements for the Group start in 
one division of a client organisation, thereby enabling 
the Group to leverage this reference point into other 
departments and workstreams in large multinationals. 
The Group has a ‘‘land and expand’’ strategy to win 
initial projects and grow the number of contracts for 
each customer.
Strategic report 
Our strategy Rosslyn Data Technologies plc Annual report and accounts 2015 09
The Group’s future success depends on its senior 
management, senior sales and marketing executives and 
key technical staff. The Group has entered into contractual 
agreements with these staff members but their continued 
employment cannot be guaranteed. Failure to retain these 
staff members may adversely affect the performance and 
profitability of the Group. It is possible that key staff members 
may join competitors or establish competitor businesses 
in their own right.
The Group continues to invest in improving HR in order 
to ensure good recruitment and onboarding of new 
employees. Training is provided as needed within the 
Group to allow employees to develop the necessary skills 
for their changing roles. Share options are available to 
incentivise key staff.
The Group is involved in the provision of software services. 
The software industry is in the process of continuous change 
and development, reflecting technical developments and 
changing customer requirements. These changes may 
adversely impact the Group’s prospects. 
The Group continues to invest significant resources 
in research and development into the RAPid platform. 
The Board believes that constantly evolving the product 
offering best protects the Group against technological change.
The Group’s reliance on certain key systems and 
technologies for its continuing operations exposes the 
Group to significant risk as the systems are vulnerable to 
interruption and damage. The interruption and damage of 
the Group’s systems may be due to events beyond the control 
of the Group; these events include, but are not limited to, 
natural disasters, telecommunications failures, power losses, 
computer viruses and terrorist attacks. Downtime arising 
from such events may have a material detrimental effect 
upon the Group’s performance and profitability.
The Group maintains disaster recovery plans. These are 
designed to allow the business to function properly against 
many foreseeable events. However, certain events are 
beyond the management’s ability to build cost-effective 
solutions. Acts of terrorism and total loss of the internet fall 
into these categories. Management recognises the Group’s 
exposure to key systems and seeks to minimise its risk on 
a cost-realistic basis.
The Group invests in functions and processes to service 
customers in an appropriate manner, with a view to 
achieving high customer retention rates. The anticipated 
rapid expansion of the Group may place strains upon these 
functions and processes. There can be no guarantee that 
the Group will be able to achieve 100% retention rates.
The Board recognises that customer care is a very 
important attribute to business in the service sector. 
Clients are supported by the customer support team. 
The Board regards customer satisfaction and low churn 
as important signals. Nevertheless some client turnover 
can be expected for reasons which do not necessarily 
reflect poor service. Change of control of a customer, 
as an example, may give rise to different supplier choices.
Dependence on key 
executives and 
technical personnel
Technical change
Reliance on 
key systems
Customer risk
Description Mitigation Risk
Strategic report
Key risks Rosslyn Data Technologies plc Annual report and accounts 2015 10
Strategic report
Key risks continued
The sector in which the Group operates is competitive 
and there can be no certainty that the Group will be able 
to achieve the market penetration it seeks. There can be 
no guarantee that Group’ s current competitors or new entrants 
to the market will not bring superior technologies, products 
or services to the market. The possibility of similar products 
and services at a lower price may also be offered to the 
market. Any of these events may have an adverse effect 
on the Group.
The Group sees a competitive market environment as 
an opportunity as much as a threat. Investment in people, 
systems and products represents the best defence in 
a competitive marketplace and the Board continues 
to invest in all these areas.
The Group supplies sophisticated and complex computer 
software to its customers. These products when first 
introduced, or enhanced, may contain undetected defects 
that may fail to meet customers’ performance expectations 
or requirements. Such failures may damage the Group’s 
reputation and lead to an adverse effect on the Group’s 
business and financial performance.
Products and new releases are rolled out to the market, 
after extensive internal testing, in a progressive manner. 
The Group seeks to release fully functional products but 
the nature of software includes a risk of unidentified bugs 
existing in the system. The Group is capable of rolling back 
to previous versions of software if absolutely necessary.
The Group operates in the UK, Continental Europe and 
the US and is therefore exposed to foreign exchange risk. 
Foreign exchange risk arises on sales and purchases made 
in foreign currencies and on recognised assets and 
liabilities in foreign operations.
The Group incurs costs in US dollars which offset 
US dollar revenues. This minimises the revenue account 
impact. The Group generates euro revenues with minimal 
euro costs. Euro balances are converted to functional 
currencies, as required, on a regular basis to avoid 
adverse currency impacts.
The Group may be adversely impacted by developments 
in the political, economic and regulatory environment in 
which the Group operates. Such risks include, but are not 
limited to, expropriation, nationalisation, inflation, deflation, 
changes in interest rates, changes in tax rates and regimes 
and currency exchange controls.
A general deterioration in the economic climate in any 
of the markets in which the Group operates may impact 
the demand for the Group’s products and services. Such 
changes in demand may cause an adverse impact on 
the Group’s performance. It is not always possible to 
foresee the impact of legislative or regulatory change. 
These changes may also have an adverse impact on 
the  Group’s financial performance.
The Group operates in a diverse range of markets, 
which offers some regional diversification but many 
macroeconomic factors and legislative events are 
beyond the control of the Board.
Competition risk
Product risk
Currency 
and foreign 
exchange risk
Political, economic 
and legislative risks
Description Mitigation Risk Rosslyn Data Technologies plc Annual report and accounts 2015 11
1,296,276
Deferred revenue (£m)
£0.68m
Turnover (£m)
£2.8m
1,821,461
1,835,219
2,066,041
11
12
13
14
215,662
333,631
444,988
522,142
681,873
11
12
13
14
15
724,267
Year-end cash and cash equivalents (£m)
£4.7m
675,833
1,673,270
2,886,520
11
12*
13
14
111,034
1,068,387
77,221
9,019,458
4,712,730
11
12
13
14
15
* 2012 was a 13-month trading period; twelve-month 
annualised figures are shown for comparative purposes.
Our performance indicators are in line with our strategy 
to develop and grow the Company.
2,826,034 15 3,510,146 15
20
Average number of employees
54
23
32
41
11
12
13
14
54 15
Operating loss before exceptional expenses 
(£m)
£3.5m
Strategic report
Key performance indicators Rosslyn Data Technologies plc Annual report and accounts 2015 12
Summary
Revenue
Group revenues increased by 37% to £2,826,034 
(2014: £2,066,041). Proceeds from the IPO in April 2014 were 
deployed progressively during the year. First half revenue 
was £1,250,770 (2014: £1,019,411), a growth rate of 23%. 
Second half revenues were £1,575,264 (2014: £1,046,630), 
an increase of 50%. On a sequential basis, half-on-half 
revenues grew in H2 2015 by 26% on those of H1 2015. 
Management is encouraged by this progressive 
acceleration of revenue delivery.
The payback from investing funds into the business takes 
time and management expects this payback to continue 
into the current year, and beyond, as the investment into 
sales and marketing bears fruit. The investment into product 
development will yield market-ready services to drive further 
revenue growth; payback here will take longer but should 
drive incremental returns. The second half growth rate 
compares a period before the IPO funds were received with 
a period when the investments in sales and marketing had 
a chance to start to pay back. The growth rate of over 50% 
is an encouraging start.
On a regional basis the US revenues of £800,116 
(2014: £172,452) now represent some 28% of Group revenues. 
This has been achieved following a number of material 
client wins in the last twelve months, perhaps most notably 
a US$1m five year contract with the Florida State University 
Board of Trustees. The board represents twelve universities 
in Florida and Rosslyn Analytics, Inc. provides data analytics 
services to the group. In 2014 the recorded US revenues were 
£172,452. This represented sales in the final quarter of 2013–14 
by Rosslyn Analytics, Inc. Prior to this the final quarter 
sales to the US had been treated as exports from the UK. 
The underlying increase in US sales was over 50% in 2014–15.
The apparent increase in UK revenues was 7% £2,025,918 
(2014: £1,893,589). This understates the true performance 
due to the reclassification of UK exports to US domestic 
sales. The underlying increase was over 20%.
In the second half of the year we entered into a new 
relationship with the consulting arm of PwC. This partnership 
arrangement is proving beneficial to both parties and we 
look forward to the relationship growing in strength in the 
coming year. The Xerox partnership continues to develop 
and we look forward to an expanding relationship in the 
current year. Management believes that partnerships are 
an important route to the development of the Rosslyn Group 
and will continue to explore this route to market. Not all of 
the relationships will necessarily be successful but experience 
shows that partners can support the development of Rosslyn’s 
data analytics business.
Gross margin
The gross margin percentage increased from 83.1% in 2014 
to 84.3% in 2015. This upward trend reflects two factors. 
First, there is a factor of operational gearing as an element 
of storage costs is fixed and, second, in April 2015 the UK 
business switched storage supplier to Microsoft’s Azure 
platform, following the end of a three year arrangement 
in the UK. This switch is expected to progressively improve 
gross margins during 2015–16 as the full year effect kicks in. 
EBITDA
On a pre-exceptional basis (2014 included exceptional 
costs of £223,460) the EBITDA loss increased by 20% to 
£3,427,456 (2014: £2,845,741). This reflected the investment 
made into the business from the IPO proceeds to support 
both sales and marketing and product development. 
Both the increased investment and expanded EBITDA 
loss were anticipated events at the time of the IPO. 
Exceptional items
There were no exceptional items in the year (2014: £223,460). 
Last year the Group incurred settlement and legal costs in 
relation to an employee-related matter. As was stated at 
the time, the matter was resolved and no further costs 
are expected.
Strategic report 
Financial review Rosslyn Data Technologies plc Annual report and accounts 2015 13
Other income
The group received £128,948 (2014: £34,615) of other 
income from an R&D grant. This income is incremental 
to the tax credits receivable under corporation tax 
and represents a one-off grant won under a competitive 
process. The income in 2014 represents income from one 
quarter. There is likely to be a final quarter of revenue in 
2015–16. At this point the grant will be exhausted. At the 
present time the Group has not entered, or qualified, 
for a further grant but this is kept under constant review. 
The Board will submit grant applications where it sees 
an appropriate benefit. In virtually all cases these grants 
are competitive and no guarantee can be made as to the 
likely success of such applications.
Depreciation, amortisation and impairments
The accounting policy for website capitalisation was 
reviewed in the year. The policy in force at the start 
of the year was that website costs were capitalised and 
amortised over a two year period. The commercial need 
to constantly update the Group’s website means that a 
more appropriate policy is to expense costs as incurred. 
Messaging needs to be updated frequently; a message 
from as little as twelve months ago could easily be obsolete. 
The existing website was fully amortised in the year 
and incremental costs have been expensed.
Whilst the absolute amount is not large there was an increase 
in depreciation during the year. The current year charge 
was £60,045 (2014: £37,829). This reflects an investment 
into technology to support the development team and 
to reflect provision of IT equipment more generally over 
a larger workforce. Such a step change is not envisaged 
in the current year.
Loss before income tax
The loss before income tax for the year was £3,478,221 
(2014: £3,111,733). This represents an increased loss 
of 12%. Excluding the exceptional item in 2014, the 
increase was 20%, very much in line with the change 
in pre-exceptional EBITDA.
Cash flow and funds
The Group ended the year with cash balances of £4,712,730 
(2014: £9,019,458). Total cash utilisation in the period was 
£4,306,728. There were two main uses of cash in the year: 
the repayment of a £200,000 loan taken out prior to listing 
in April 2014 and the payment of outstanding fees relating 
to the listing on 29 April 2014. These fees in aggregate were 
approximately £1,332,712. The overwhelming proportion 
related to a payment to the reporting accountant. Whilst there 
were a number of other minor items, the balance is accounted 
for by changes in working capital. Trade creditors and other 
payables have declined. This reflects a return to normalised 
payment terms to suppliers who supported the business ahead 
of the listing and, the issue of new shares. Trade and other 
receivables have expanded, reflecting increased activity levels 
at the revenue level.
At the year end deferred revenue was £681,873 
(2014: £522,142). This represents an increase of 31%. 
The main changes in the year relate to a running down 
of the deferred revenue from Xerox and the signing of the 
contract with the Florida State University Board of Trustees. 
Xerox made an initial payment to Rosslyn in early 2013 on 
entering into the partnership arrangement. These funds 
had been materially exhausted by April 2015.
Investment into fixed assets in the year to 30 April 2015 was 
£151,776 (2014: £23,678). This step change reflected a level 
of catch-up investment across the Group and the provision 
of appropriate technology to the expanded development 
team to allow testing in a separate environment. 
By order of the Board
Charles Clark
Chief Executive Officer
16 September 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 14
Corporate governance
Board of Directors
John O’Hara
Chairman
John has more than 30 years of experience in the high-tech industry, 
having held senior positions with some of the world’s biggest companies 
including Lotus, IBM, Microsoft and, more recently, Pitney Bowes.
As president of Pitney Bowes Software and a corporate officer 
of Pitney Bowes, John has led global expansion initiatives and was 
responsible for a number of strategic acquisitions across the UK, 
Europe and Australia. He has previously worked for Microsoft UK as 
general manager, and Enterprise and Partner Group, where he was 
responsible for more than $1bn in revenue, and has held senior roles 
at IBM, Pivotal Corporation and Lotus Development Group.
John has a Bachelor of Science (Hons) degree in chemistry from 
the University of Wales Institute of Science and Technology and a 
Master of Science degree from the University of Manchester.
Charles Clark
Chief Executive Officer
Charlie is a highly experienced and well regarded senior executive. 
He co-founded Rosslyn Analytics Ltd and, prior to this, was an 
investment banker.
Charlie has extensive experience of working with fast-growing companies 
and the capital markets.
Consistently recognised as a pioneer and leader in cloud analytics, 
and for his leadership in establishing Rosslyn Analytics, Charlie is also 
a prolific writer and speaker on the subjects of data management and 
cloud analytics.
Charlie served with the British Army during Desert Storm and holds 
an MBA from City University Business School, London. He is a Fellow 
of the Securities Institute and is an Accredited Associate of the Institute 
for Independent Business.
Hugh Cox
Chief Data Officer
Hugh co-founded Rosslyn Analytics Ltd with Charlie Clark. Hugh is a 
recognised expert in helping public and private sector organisations 
tackle business issues through technologies including cloud computing, 
data management and analytics.
Hugh has authored and spoken extensively on the subject of data 
analysis, with particular focus on fraud prevention and detection, 
through the deployment of cloud-based analytics platforms.
Prior to establishing Rosslyn Analytics, Hugh held senior positions with 
COO Investments (EMEA) and Citigroup Private Bank. He also worked 
for Perot Systems, J.P . Morgan and Logica.
After leaving the British Army, Hugh gained a Bachelor of Science in 
computer science and an MBA from City University Business School, London.
Jeff Sweetman
Chief Operating Officer
Jeff has over 15 years’ experience in building and deploying enterprise 
solutions for global organisations, holding senior positions within FileNet, 
IBM, Oracle, PeopleSoft and J.D. Edwards, as well as helping to grow a 
start-up within the Microsoft Dynamics channel. 
Having lived and worked in Africa, Asia Pacific, Europe and the US,  
Jeff has a deep understanding of the complex multinational environments 
within which global organisations need to deploy solutions, as well as 
experience across ERP , e-procurement, business intelligence and the 
Software as a Service (SaaS) marketplace.
Jeff has a degree from Loughborough University and an MBA from London 
Business School. Rosslyn Data Technologies plc Annual report and accounts 2015 15
Francis Reid
Chief Financial Officer
Francis has more than 20 years of financial, executive leadership and 
operational management experience in emerging growth companies 
and financial institutions including investment banking and pension 
fund management.
Francis has previously held senior roles with UBS Investment Bank and 
Gartmore Investment Management and, more recently, maintained the 
position of chief financial officer at Seadragon Offshore, a privately owned 
offshore drilling and rig construction company.
A qualified Chartered Accountant, Francis holds a Bachelor of Arts 
degree in economics and public administration from London University. 
Francis stepped down as a Director of the Company on 31 July 2015.
Bernard Quinn
Non-Executive Director
Barney has over 30 years’ experience with application software IT 
companies and has successfully introduced two UK companies to 
North America. For 13 years, Barney was a main board director of 
Sherwood International plc, a provider of software and services to the 
insurance industry – a key achievement was establishing and running 
the Sherwood North American operation for three years.
Barney is currently a non-executive director of Workplace Systems, having 
previously been CEO, completing an MBO in 2011 with the help of LDC, 
taking the company private after many years on AIM. He is non-executive 
chairman of Clearstar Inc., an AIM listed company based in Atlanta. 
He has also worked with private equity companies and has investments 
in Voyage Design, a creative company, and Parago Ltd, an asset 
management software company.
Edward Stacey
Non-Executive Director
Ed has been active in technology venture capital for over 15 years. 
He was one of the first investors in Autonomy in 1996 and has 
been instrumental in a number of UK technology companies 
achieving success. 
His current venture fund, IQ Capital, has made three successful 
cash exits to date, to Google, Apple and Beckton Dickinson. IQ Capital 
is a shareholder of the company and has been a shareholder in 
Rosslyn Analytics Ltd and, subsequently, in Rosslyn Data Technologies plc 
since 2010.
Roger Bullen
Chief Finance and Operating Officer (from 1 October 2015)
Roger has more than 20 years of finance, executive and operational 
leadership experience in technology-based companies, including 
start-ups, large caps and consulting firms. Roger’s experience covers 
working with national, US and global companies.
Roger recently held senior roles with Navigant Consulting Inc. as head 
of the international division and Sapient Inc. as VP international finance. 
He has also worked with private equity companies and been successful 
in taking companies to market and trade sale. 
Roger has been a shareholder in Rosslyn Analytics Ltd and, 
subsequently, in Rosslyn Data Technologies plc since Charles 
and Hugh established Rosslyn. 
Roger has been a member of the Chartered Institute of Management 
Accountants since 1990. Rosslyn Data Technologies plc Annual report and accounts 2015 16
Corporate governance
Directors’ report
The Directors present their report and audited 
consolidated financial statements for the year ended 
30 April 2015.
Principal activity
The principal activity of the Group continued to be the 
development and provision of data analytics software.
Business review and future developments 
A review of the Group’s operations and future developments 
is covered in the Chief Executive Officer’s Statement together 
with the Financial Review on page 5 and pages 12 to 13. 
Financial results
Details of the Group’s financial results are set out in the 
consolidated statement of comprehensive income and other 
components of the financial statements on pages 25 to 51.
Dividends
The Directors do not recommend the payment of a 
dividend (2014: £nil).
Going concern
After making enquiries and considering the nature of the 
business, the Directors believe that the Group has sufficient 
resources to continue trading for the foreseeable future. 
Based on this assessment the Directors believe that 
continuing to adopt a going concern basis for the 
preparation of the report and consolidated financial 
statements is appropriate. This is described in more 
detail in note 2 to the financial statements.
Annual General Meeting
On page 52 is the notice of the Company’s Annual General 
Meeting to be held at The Viceroy Room, The Grosvenor Hotel, 
101 Buckingham Palace Road, London SW1W OSJ 
on 28 October 2015 at 11.00am.
Directors and Directors’ shareholdings
The Directors who served on the Board and on Board 
Committees during the year are set out on pages 14 to 15.
A directors’ and officers’ insurance policy has been put 
in place to indemnify the Directors against legal actions 
by third parties.
Details of the Directors’ remuneration and share option 
rights are given in the Remuneration Report on pages 21 
to 23.
Substantial shareholders
The Company is informed that, as at 30 April 2015, individual registered shareholdings of more than 3% of the Company’s 
issued share capital were as follows:
Shareholder Number of shares
Percentage of
 issued ordinary
 share capital of 
the Company and
 voting rights
IQ Capital Fund 1 LP 11,062,712 14.66%
Hugh Cox 9,544,910 12.65%
Charles Clark 9,506,072 12.60%
Standard Life Investments Limited 4,848,400 6.43%
Hargreave Hale Limited 4,545,400 6.02%
Miton Asset Management Limited 4,242,346 5.62%
Artemis Fund Managers Limited 2,575,000 3.41% Rosslyn Data Technologies plc Annual report and accounts 2015 17
Research and development
During the year the Group spent £284,952 (2014: £646,782) 
on tax relief qualifying research and development for 
the purpose of enhancing the Group’s product offerings. 
All amounts were expensed during the year. 
Employees
It is the Group’s policy to involve employees in its 
progress, development and performance. During the 
year a series of briefings took place to keep employees 
informed of developments, financial performance and 
technical changes. The Group is committed to ensuring 
that equal opportunities are accorded to all its employees 
irrespective of age, gender and nationality in respect of 
training, career development and advancement.
Political and charitable donations
During the year the Group made no political donations 
(2014: £nil) and made charitable donations of £nil (2014: £nil).
Supplier payment policy and practice
The Group does not operate a standard code in respect 
of payments to suppliers. The Group agrees terms of payment 
with individual suppliers and makes payments in accordance 
with contractual and other legal obligations.
The ratio, expressed in days, between the amount 
invoiced to the Group by its suppliers during the year 
ended 30 April 2015 and the amount owed to its trade 
creditors at 30 April 2015 was 74 days (2014: 82 days).
Disclosure of information to auditor
The Directors who held office at the date of approval of this 
Directors’ Report confirm that, so far as they are aware, there 
is no relevant audit information of which the Company’s 
auditor is unaware, and each Director has taken all the steps 
that he ought to have taken to make himself aware of any 
relevant audit information and to establish that the Company’s 
auditor is aware of that information.
Independent auditor
A resolution for the re-appointment of Grant Thornton UK LLP 
as auditor of the Company is to be proposed at the 
forthcoming Annual General Meeting.
By order of the Board
Charles Clark
Chief Executive Officer
16 September 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 18
Corporate governance
Statement of Directors’ responsibilities
in preparation of the financial statements
The Directors are responsible for preparing the annual 
report and the accounts in accordance with applicable law 
and regulations.
Company law requires the Directors to prepare financial 
statements for each financial year. Under that law the Directors 
have prepared the Group financial statements in accordance 
with International Financial Reporting Standards (IFRSs) as 
adopted by the European Union, and the parent company 
financial statements in accordance with United Kingdom 
Generally Accepted Accounting Practice (United Kingdom 
Accounting Standards and applicable law). Under company 
law the Directors must not approve the financial statements 
unless they are satisfied that they give a true and fair view 
of the state of affairs of the Group and the Company and 
of the profit or loss of the Group for that period. In preparing 
these financial statements, the Directors are required to:
 — select suitable accounting policies and then apply 
them consistently;
 — make judgements and accounting estimates that are 
reasonable and prudent;
 — state whether IFRSs as adopted by the European Union 
and applicable UK Accounting Standards have been 
followed, subject to any material departures disclosed 
and explained in the Group and parent company 
financial statements respectively; and
 — prepare the financial statements on the going concern 
basis unless it is inappropriate to presume that the 
Company will continue in business.
The Directors are responsible for keeping adequate 
accounting records that are sufficient to show and explain 
the Company’s transactions and disclose with reasonable 
accuracy at any time the financial position of the Company 
and enable them to ensure that the financial statements 
comply with the Companies Act 2006. They are also responsible 
for safeguarding the assets of the Company and the Group 
and hence for taking reasonable steps for the prevention 
and detection of fraud and other irregularities.
The Directors are responsible for the maintenance 
and integrity of the Company’s website. Legislation in 
the United Kingdom governing the preparation and 
dissemination of financial statements may differ 
from legislation in other jurisdictions. Rosslyn Data Technologies plc Annual report and accounts 2015 19
Corporate governance report
As an AIM listed company, Rosslyn Data Technologies plc is 
not required to comply with the full UK Corporate Governance 
Code, but the Board believes that compliance with the 
highest standards of corporate governance is very important. 
It has adopted many of the best practices set out in the 
Corporate Governance Guidelines issued by the Quoted 
Companies Alliance, an alternative governance code 
particularly aimed at smaller quoted entities.
Board of Directors and Board committees
At the end of the financial year the Board of Directors 
consisted of four Executive and three Non-Executive 
Directors. The Board believes this to be an appropriate 
mix of skills and roles to act in the best interests of 
shareholders and stakeholders. 
The roles of Chairman and Chief Executive Officer are 
separate. The Chairman leads Board meetings and Board 
discussions and has responsibility for the Board’s overall 
effectiveness. The Chief Executive Officer is responsible for 
the achievement of the Group’s strategic and commercial 
objectives, within the context of the Group’s resources 
and the risk tolerances laid down by the Board.
Barney Quinn is the senior independent Non-Executive 
Director and chairs each of the Board’s committees. 
The Chairman, John O’Hara, is a member of each of the 
Board committees. Edward Stacey, a Non-Executive Director, 
is employed by IQ Capital LP , a connected company 
of IQ Capital Fund 1 LP , the Group’s largest shareholder.
The Board is responsible to shareholders and provides 
leadership and direction to the Group. It is the role of the 
Board to set the strategic direction and goals of the Group 
within the risk tolerances and control mechanisms the Board 
believes are appropriate. The Board has a list of matters 
reserved for its consideration which include, but are not 
limited to, matters of strategy, risk management, consideration 
and approval of financial budgets, major capital expenditure 
decisions, acquisitions and disposals, approval of the interim 
and final results and the recommendation of any dividends. 
The Board has three committees, each with defined terms 
of reference. They are the Audit Committee, the Remuneration 
Committee and the Nomination Committee.
The Board meets on a regular basis. During the year from 
1 May 2014, the Board met twelve times. In addition the 
Board committees met a number of times. Table 1 shows 
the attendance of the relevant Directors at these meetings.
Formal agenda and briefings are prepared for Board 
meetings, allowing all Directors to participate fully in the 
meetings. The Directors all have access to independent 
advice, if required, in respect of their duties from a variety 
of professional advisers. The Company maintains an 
appropriate directors’ and officers’ insurance policy in 
respect of legal actions against the Directors or Officers.
The performance of the Board is assessed by the 
Chairman, in conjunction with the Nomination 
Committee. This assessment includes, but is not limited 
to, the appropriate level of skill of Board members, the 
conduct of Board meetings, the decision making process 
and the effectiveness of the various Board committees.
Table 1 – Board meetings, showing attendance
Year to 30 April 2015
Board Total
John O'Hara 12/12
Charles Clark 12/12
Hugh Cox 11/12
Jeffrey Sweetman 12/12
Francis Reid 12/12
Edward Stacey 12/12
Bernard Quinn 12/12
Audit Committee Total
Bernard Quinn 2/2
John O’Hara 2/2
Francis Reid 2/2
Remuneration Committee Total
Bernard Quinn 2/2
John O’Hara 2/2
Nomination Committee Total
Bernard Quinn 1/1
John O’Hara 1/1 Rosslyn Data Technologies plc Annual report and accounts 2015 20
Corporate governance
Board committees
The Board has established three Committees, with clearly 
defined terms of reference. The membership of these 
committees and their duties are set out below.
Audit Committee
The Audit Committee is chaired by Barney Quinn. 
John O’Hara is the other permanent member of the 
Committee, which co-opts other Directors and senior 
employees as necessary into its deliberations. The Committee 
is expected to meet at least twice a year. The main 
responsibilities of the Audit Committee are monitoring 
the integrity of the Company’s financial systems and 
statements; reviewing significant reporting issues; 
and reviewing the effectiveness of the Company’s 
internal control and risk management systems.
The Committee is also responsible for overseeing the 
relationship with the external auditor (including advising 
on its appointment, agreeing the scope of the audit and 
reviewing the audit findings). The Committee meets with 
the external auditor, without the Chief Financial Officer, 
at least once a year.
Remuneration Committee
The Remuneration Committee is chaired by Barney Quinn. 
John O’Hara is the second permanent member of this 
committee. Other Directors are co-opted on to the Committee 
on an adhoc basis. The Committee is expected to meet at 
least twice a year.
The responsibilities of the Committee include determining 
the remuneration of the Chairman, the Executive Directors 
and other Senior Executives. As part of this role the Committee 
is responsible for setting the framework for any bonus, 
incentive or share option schemes. The remuneration 
of the Non-Executive Directors is agreed between the 
Chairman and the Executive Directors.
Nomination Committee
The Nomination Committee is chaired by Barney Quinn. 
John O’Hara is the other permanent member of this committee, 
which co-opts other Directors as necessary for its deliberations. 
The Committee is responsible for considering the selection, 
and re-appointment, of the Directors. It is also responsible 
for identifying and nominating candidates for Board vacancies. 
The Committee, in conjunction with the Chairman, 
John O’Hara, reviews the size, structure and composition 
of the Board and makes recommendations to the Board for 
any changes. The Committee meets on an as necessary basis.
Investor relations 
The Chief Executive Officer and the Chief Financial Officer 
meet with analysts and institutional shareholders of the 
Company after the interim and annual results announcements 
and on an as needed basis at other times in the year to 
update shareholders on the progress of the Group.
The Directors encourage the participation of all shareholders, 
including private shareholders, at the Annual General 
Meeting. The annual report and accounts is published on 
the Company’s website, www.rosslyndatatechnologies.com, 
and can be accessed by shareholders and potential investors.
Internal control and risk management
The Board is responsible for the Group’s systems of 
internal controls and, together with the Audit Committee, 
reviewing those systems. The systems put in place are 
designed to manage, limit and control risk but cannot 
eliminate all risk completely.
The Executive Directors of the Company are actively involved 
in the daily management of the operations of the Group. 
Business risks are regularly identified and appropriate control 
systems are implemented to manage those risks.
The Group has quality assurance processes in place for the 
development and delivery of software. The main operating 
Company, Rosslyn Analytics Ltd, is ISO 9001:2008 certified, 
which covers quality management, and ISO 27001:2005, 
which covers information security management.
The Group’s internal financial control procedures and 
monitoring systems include:
 — an annual budgetary process to set appropriate 
measurable targets for monitoring Group progress;
 — financial policies and approval processes to ensure 
proper authorisation is obtained for spending;
 — segregation of duties within financial management;
 — maintenance of proper records for the production 
of accurate and timely financial information; and
 — detailed monthly reporting to the Board against the 
operating budget and analysis of cash management.
Barney Quinn
Chairman of the Audit Committee
16 September 2015
Corporate governance report continued Rosslyn Data Technologies plc Annual report and accounts 2015 21
Remuneration report
As an AIM listed company, Rosslyn Data Technologies plc 
is not required to comply with the Main Market UK Listing 
Rules or those aspects of the Companies Act applicable 
to listed companies regarding the disclosure of directors’ 
remuneration. However, the Board has chosen to adopt 
many of the best practices as proposed in the Remuneration 
Guide for Smaller Quoted Companies by the Quoted 
Companies Alliance. Unless stated, this report is unaudited.
Remuneration Committee
Membership and the responsibilities of this committee are 
set out below. The Committee is chaired by Barney Quinn. 
John O’Hara is the other permanent member of the 
Committee. Other Directors are invited to participate in 
committee deliberations as required, but are not involved 
in decisions affecting their own remuneration.
Meeting and attendance in FY 2014–15
The Committee met twice in the year, in July 2014 and 
March 2015. The meetings were attended by the two 
permanent members of the Committee.
Remuneration policy
The objective of the remuneration policy is to ensure 
that the overall remuneration of the Executive Directors, 
and key Senior Executives, is designed to attract, retain 
and motivate them to generate performance aligned to 
creating sustainable shareholder value, within acceptable 
risk tolerances. The remuneration of Senior Executives is 
managed to ensure an appropriate balance relative to 
other employees in the Group.
Executive Directors’ remuneration
In the year under review, Executive Directors’ total 
remuneration packages comprised:
 — fixed pay, including base salary and pension 
contributions; and
 — variable pay, comprising bonus opportunities and on 
an individual basis access to the EMI Share Option Scheme.
Activities during the year
During the year the Committee undertook the following 
activities at its meetings:
 — review of Executive remuneration strategy and policy;
 — approval of bonuses to the Executive Directors; and
 — review of proposed grants of share options under the 
EMI Share Option Scheme and the approval thereof.  Rosslyn Data Technologies plc Annual report and accounts 2015 22
Corporate governance
Remuneration report continued
2014–15 annual bonus
The table below sets out the aggregate remuneration of the Directors.
Salary
£’000
Bonus
£’000
Benefits
£’000
Fees
£’000
Pension
£’000
Share-
based 
payments
£’000
30 April
2015 
Total
£’000
30 April
2014
 Total
£’000
Executive Directors
Charles Clark 150 70 1 — 12 — 233 135
Hugh Cox 120 70 6 — 12 — 208 131
Jeffrey Sweetman
(i)
125 70 — — 12 — 207 133
Francis Reid 120 70 — — 12 — 202 171
Non-Executive Directors
John O'Hara 50 — — — — — 50 113
Barney Quinn 30 — — — — — 30 —
Edward Stacey
(ii)
35 — — — — — 35 —
IQ Capital Directors Nominees Ltd — — — — — — — 34
Notes
(i)  Jeffrey Sweetman was paid US$200,000, an amount equal to the salaries of Hugh Cox and Francis Reid, at the budget rate, when the 
employment contracts were signed.
(ii)  Edward Stacey is an employee of IQ Capital Partnership LLP and surrendered his salary to that company. In 2014 he represented 
IQ Capital Directors Nominees Ltd on the Board.
Directors’ interests
The interests of the Directors over the ordinary shares of the Company are as follows:
Director
Number of shares
 held at 
30 April 2015
Percentage of
 issued ordinary
 share capital
Charles Clark 9,506,072 12.60%
Hugh Cox 9,544,910 12.65%
Jeffrey Sweetman
(i)
1,352,760 1.79%
Francis Reid 75,757 0.10%
John O'Hara
(ii)
920,552 1.22%
Barney Quinn 30,303 0.04%
Edward Stacey
(iii)
11,062,712 14.66%
Notes
(i) Of which 888,960 ordinary shares are held by the trustees of the Jeffrey Sweetman Discretionary Trust.
(ii) Includes 151,680 ordinary shares held by Sippchoice Trustees Limited as trustee of John O’Hara’s self-invested personal pension.
(iii) All the 11,062,712 ordinary shares are held by IQ Capital Fund 1 LP , a connected person of Edward Stacey. Rosslyn Data Technologies plc Annual report and accounts 2015 23
Share options
The following Directors held share options at 30 April 2015:
Director Share options Exercise price
John O’Hara 240,000 0.5p
Francis Reid 623,000 16.49p
The following Directors held share options at 30 April 2014:
Director Share options Exercise price
John O’Hara 240,000 0.5p
Francis Reid 320,000 0.8575p
Approved by the Board and signed on its behalf by:
Barney Quinn
Chairman of the Remuneration Committee
16 September 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 24
Financial statements
Independent auditor’s report
to the members of Rosslyn Data Technologies plc
We have audited the group financial statements of Rosslyn Data 
Technologies plc for the year ended 30 April 2015 which comprise 
the consolidated statement of financial position, the consolidated 
statement of comprehensive income, the consolidated statement of 
cash flows, the consolidated statement of changes in equity, and the 
related notes. The financial reporting framework that has been applied 
in their preparation is applicable law and International Financial 
Reporting Standards (IFRSs) as adopted by the European Union.
This report is made solely to the company’s members, as a body, 
in accordance with Chapter 3 of Part 16 of the Companies Act 2006. 
Our audit work has been undertaken so that we might state to the 
company’s members those matters we are required to state to them 
in an auditor’s report and for no other purpose. To the fullest extent 
permitted by law, we do not accept or assume responsibility to anyone 
other than the company and the company’s members as a body, for 
our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditor
As explained more fully in the Directors’ Responsibilities Statement, 
the directors are responsible for the preparation of the group financial 
statements and for being satisfied that they give a true and fair view. 
Our responsibility is to audit and express an opinion on the group financial 
statements in accordance with applicable law and International Standards 
on Auditing (UK and Ireland). Those standards require us to comply 
with the Auditing Practices Board’s Ethical Standards for Auditors.
Scope of the audit of the financial statements
A description of the scope of an audit of financial statements 
is provided on the Financial Reporting Council’s website at  
www.frc.org.uk/auditscopeukprivate.
Opinion on financial statements
In our opinion the group financial statements:
 — give a true and fair view of the state of the group’s affairs 
as at 30 April 2015 and of its loss for the year then ended;
 — have been properly prepared in accordance with IFRSs 
as adopted by the European Union; and
 — the financial statements have been prepared in accordance 
with the requirements of the Companies Act 2006.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion the information given in the Strategic Report and 
Directors’ Report for the financial year for which the group financial 
statements are prepared is consistent with the group financial statements.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the 
Companies Act 2006 requires us to report to you if, in our opinion:
 — certain disclosures of directors’ remuneration specified by law 
are not made; or
 — we have not received all the information and explanations 
we require for our audit.
Other matter
We have reported separately on the parent company financial statements 
of Rosslyn Data Technologies plc for the year ended 30 April 2015.
Nicholas Page
Senior Statutory Auditor
for and on behalf of Grant Thornton UK LLP
Statutory Auditor, Chartered Accountants
Gatwick
16 September 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 25
Consolidated statement of comprehensive income
for the year ended 30 April 2015
Note
 Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Revenue 3 2,826,034 2,066,041
Cost of sales (442,309) (349,072)
Gross profit 2,383,725 1,716,969
Other operating income 128,948 34,615
Administrative expenses – excluding exceptional items (6,019,581) (4,638,104)
Administrative expenses – exceptional items 6
— (223,460)
Administrative expenses (6,019,581) (4,861,564)
Operating loss (3,506,908) (3,109,980)
Finance income 5 28,687 —
Finance costs 5 — (1,753)
Loss before income tax 7 (3,478,221) (3,111,733)
Income tax 8 222,216 148,510
Loss for the year (3,256,005) (2,963,223)
Other comprehensive income (18,503) —
Total comprehensive income (3,274,508) (2,963,223)
Loss per share Pence Pence
Basic and diluted loss per share: ordinary shareholders 9 4.34 7.43
The notes on pages 29 to 44 form part of these financial statements. 26
Financial statements
Rosslyn Data Technologies plc Annual report and accounts 2015
Consolidated statement of financial position
as at 30 April 2015
Note
30 April
2015
£
30 April
2014
£
Assets
Non-current assets
Intangible assets 10 — 17,019
Property, plant and equipment 11 104,005 29,016
104,005 46,035
Current assets
Trade and other receivables 12 1,203,747 714,091
Corporation tax receivable 218,082 147,643
Cash and cash equivalents 13 4,712,730 9,019,458
6,134,559 9,881,192
Total assets 6,238,564 9,927,227
Liabilities
Non-current liabilities
Deferred tax 15 — (4,134)
Current liabilities
Trade and other payables 14 (1,704,224) (1,914,588)
Financial liabilities – borrowings 17 — (200,000)
(1,704,224) (2,114,588)
Total liabilities (1,704,224) (2,118,722)
Net assets 4,534,340 7,808,505
Equity
Called up share capital 18 377,229 377,029
Share premium 8,515,916 8,515,773
Share-based payment reserve 288,017 329,000
Accumulated loss (9,761,381) (6,546,359)
Translation reserve (18,503) —
Merger reserve 5,133,062 5,133,062
Total equity 4,534,340 7,808,505
The notes on pages 29 to 44 form part of these financial statements.
The financial statements were approved by the Board of Directors on 16 September 2015 and were signed on its behalf by:
Charles Clark
Chief Executive Officer
16 September 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 27
Consolidated statement of changes in equity
for the year ended 30 April 2015
Note
Called up
share capital
£
Accumulated
loss
£
Translation
reserve
£
Share-based
 payment
 reserve
£
Share
premium
£
Merger
reserve
£
Total
equity
£
Balance at 1 May 2014 377,029 (6,546,359) — 329,000 8,515,773 5,133,062 7,808,505
Issue of share capital (8 December) 18 200 — — — 143 — 343
Release — 40,983 — (40,983) — — —
Loss for the year 18 — (3,256,005) — — — — (3,256,005)
Other comprehensive income — — (18,503) — — — (18,503)
Balance at 30 April 2015 377,229 (9,761,381) (18,503) 288,017 8,515,916 5,133,062 4,534,340
The merger reserve arises from the Group reorganisation that occurred on 23 April 2014. Rosslyn Data Technologies plc acquired Rosslyn Analytics Ltd 
in a share for share transaction. There was no change in rights or proportions of control in the Group as a result of this transaction. As common 
control exists IFRS 3 was deemed to not apply and this has been accounted for as a capital reorganisation. The difference between the share 
capital and share premium of the Company and the share capital and share premium of Rosslyn Analytics Ltd at 23 April 2014 is recognised 
in the merger reserve.
Following the issue of 8,500,000 new shares on 29 April 2014, by special resolution supported by a solvency statement of the Directors in accordance 
with Section 642 of the Companies Act 2006, the Company cancelled its share premium account, and the amount of the share premium account 
so cancelled was credited to a distributable reserve. The cancellation of the share premium account took effect on 9 May 2015.
The notes on pages 29 to 44 form part of these financial statements.
Note
Called up
share capital
£
Accumulated
loss
£
Translation
 reserve
£
Share-based
 payment 
reserve 
£
Share
premium
£
Merger
reserve
£
Total
equity
£
Balance at 30 April 2013 457 (3,583,136) — — 2,650,001 — (932,678)
Issue of share capital  
(28 November and 30 January) 18 97 — — — 2,837,311 — 2,837,408
Issue of share capital (23 April) 10 — — — — — 10
Offset of share issue costs — — — — (129,297) — (129,297)
Share-based payment transactions — — — 329,000 — — 329,000
Reorganisation of Group (564) — — — (5,358,015) — (5,358,579)
Issue of share capital (23 April) 18 225,514 — — — — — 225,514
Issue of share capital (29 April) 18 151,515 — — — 9,848,485 — 10,000,000
Offset of share issue costs — — — — (1,332,712) — (1,332,712)
Reorganisation of Group — — — — — 5,133,062 5,133,062
Total comprehensive income 18 — (2,963,223) — — — — (2,963,223)
Balance at 30 April 2014 377,029 (6,546,359) — 329,000 8,515,773 5,133,062 7,808,505
In 2014 specific professional advisory costs of £1,332,712 relating to the Initial Public Offering have been allocated against the share premium 
reserve and recognised directly in equity.
The merger reserve arises from the group reorganisation that occurred on 23 April 2014. Rosslyn Data Technologies plc acquired Rosslyn Analytics Ltd 
in a share for share transaction. There was no change in rights or proportions of control in the Group as a result of this transaction. As common control 
exists IFRS 3 was deemed to not apply and this has been accounted for as a capital reorganisation. The difference between the share capital and share 
premium of the Company and the share capital and share premium of Rosslyn Analytics Ltd at 23 April 2014 is recognised in the merger reserve.
The notes on pages 29 to 44 form part of these financial statements.
Consolidated statement of changes in equity
for the year ended 30 April 2014 Rosslyn Data Technologies plc Annual report and accounts 2015 28
Financial statements
Consolidated statement of cash flows
for the year ended 30 April 2015
Note
Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Cash flows used in operating activities
Cash used in operations See below (4,082,046) (2,694,552)
Finance costs paid 5 — (1,753)
Corporation tax received 150,880 131,235
Other comprehensive income (18,503) —
Net cash used in operating activities (3,949,669) (2,565,070)
Cash flows used in investing activities
Purchase of intangible fixed assets 10 (5,626) (19,450)
Purchase of property, plant and equipment 11 (151,776) (23,678)
Net cash used in investing activities (157,402) (43,128)
Cash flows (used in)/generated from financing activities
New loans in year 16 — 200,000
Repayment of borrowings (200,000) —
Proceeds from share issuance 18 343 12,812,444
Costs of share issuance — (1,462,009)
Net cash (used in)/generated from financing activities (199,657) 11,550,435
(Decrease)/increase in cash and cash equivalents (4,306,728) 8,942,237
Cash and cash equivalents at beginning of year 13 9,019,458 77,221
Cash and cash equivalents at end of year 13 4,712,730 9,019,458
Reconciliation of loss before income tax to cash used in operations
Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Loss before income tax (3,478,221) (3,111,733)
Depreciation charges 60,045 37,829
Loss on disposal of fixed assets 13,504 —
Amortisation charges 22,645 2,950
Share-based payment transactions — 329,000
Finance costs — 1,753
(3,382,027) (2,740,201)
Increase in trade and other receivables (489,655) (299,410)
(Decrease)/increase in trade and other payables (210,364) 345,059
Cash used in operations (4,082,046) (2,694,552)
The notes on pages 29 to 44 form part of these financial statements. Rosslyn Data Technologies plc Annual report and accounts 2015 29
Notes to the consolidated financial statements
for the year ended 30 April 2015
1. General information
Rosslyn Data Technologies Ltd was incorporated on 7 February 2014 and on 24 April 2014 converted from a private limited company 
to Rosslyn Data Technologies plc.
Rosslyn Data Technologies plc (the “Company”) is a company domiciled in the UK. The address of the registered office is 25 Eccleston Place, 
London SW1W 9NF. The Company is the ultimate parent company of Rosslyn Analytics Ltd, a company incorporated in the UK, and the ultimate 
parent company of Rosslyn Analytics, Inc., a company incorporated in the United States of America (collectively, the “Group”). The Group’s 
principal activity is the provision of data analytics using a proprietary form.
The principal accounting policies adopted in the preparation of the consolidated financial information are set out below. The policies have been 
consistently applied to all the years presented.
2. Accounting policies 
Basis of preparation
The Group’s consolidated financial statements have been prepared and approved by the Directors in accordance with International Financial 
Reporting Standards (as adopted by the EU) and IFRIC interpretations and with those parts of the Companies Act 2006 applicable to companies 
reporting under IFRS. The financial statements have been prepared under the historical cost convention.
Going concern
Notwithstanding that the Group has made losses in the current year, these financial statements have been prepared on the going concern basis, 
which assumes that the Group will continue to be able to meet its liabilities as they fall due for the foreseeable future. The Directors believe that 
the Group has sufficient working capital to meet its present requirements for at least the next twelve months from the date of this consolidated 
financial information.
Basis of consolidation
On 23 April 2014 the Company acquired the Group’s previous parent company, Rosslyn Analytics Ltd, via a share-for-share exchange whereby every 
ordinary share and A preference share in Rosslyn Analytics Ltd was exchanged for eight ordinary shares and eight A preference shares respectively 
in Rosslyn Data Technologies Ltd (prior to the conversion to a plc on 24 April 2014). On 24 April 2014 the A preference shares were converted into 
ordinary shares on a one-for-one basis.
On 29 April 2014, Rosslyn Data Technologies plc’s shares were admitted to trading on AIM. 
Accordingly these financial statements are presented in the name of the new legal parent, Rosslyn Data Technologies plc, but are a continuation 
of the financial statements of Rosslyn Analytics Ltd.
Subsidiaries
Subsidiaries are entities controlled by the Company. Control exists when the Company has the power, directly or indirectly, to govern the financial 
and operating policies of an entity so as to obtain benefits from its activities. In assessing control, potential voting rights that presently are exercisable 
or convertible are taken into account. Control is generally accompanied by a shareholding of more than one-half of the voting rights. The financial 
information of subsidiaries is included in the consolidated financial information from the date that control commences until the date that control ceases.
Transactions eliminated on consolidation
Intragroup balances, and any gains and losses or income and expenses arising from intragroup transactions, are eliminated in preparing the 
consolidated financial information. 
Judgements and estimates
The preparation of the financial statements requires management to exercise judgement in applying the Group’s accounting policies. It also 
requires the use of estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Actual results may 
differ from these estimates.
On an ongoing basis the following areas involve a higher degree of judgement or complexity:
 — valuation of share-based payments; and
 — recognition of deferred tax assets. Rosslyn Data Technologies plc Annual report and accounts 2015 30
Financial statements
Notes to the consolidated financial statements continued
for the year ended 30 April 2015
2. Accounting policies continued
Revenue recognition
Revenue is measured at the fair value of consideration received or receivable and represents amounts for services provided to third parties in the 
normal course of business during the year, net of value added tax and results from the principal activities of the Group.
Each element of revenue (described below) is recognised only when:
 — provision of the services has occurred;
 — the consideration receivable is fixed or determinable; and
 — collection of the amount due from the customer is reasonably assured.
(i)  Implementation and set-up fees in connection with the deployment and customisation of the Group’s proprietary solutions are recognised 
rateably over the term of the related customer contract.
(ii) Subscription revenue from data analytics services is recognised rateably over the term of the related customer contract.
(iii) Any revenue arising from consultancy work is recognised in the statement of comprehensive income as such services are delivered.
Services that have been delivered at the end of a financial period but which have not been invoiced at that time are recognised as revenue in the 
statement of comprehensive income and shown within accrued revenue in the statement of financial position.
Advance payments from customers are included within deferred income in the statement of financial position. Such amounts are recognised 
in the statement of comprehensive income as the services are provided to the customer in accordance with points (i) to (iii) as set out above.
Cost of sales
Cost of sales includes utilised data storage costs proportionate to the amount utilised to service customers. Cost of sales does not include salaries 
and wages.
Intangible assets
Website development costs
Prior to January 2015 costs involved in the development of the Group’s website were capitalised and amortised over two years. The Directors 
believe the speed of change in website content and design is such that their costs should be expensed as incurred.
Property, plant and equipment
Items of property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. Cost includes the original purchase 
price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. When parts of an item of property, plant 
and equipment have different useful lives, those components are accounted for as separate items of property, plant and equipment.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that 
future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statements.
Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 
Computer equipment – 18 to 36 months straight line. 
Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted 
or substantively enacted by the statement of financial position date.
Deferred tax is provided using the statement of financial position liability method, providing for temporary differences between the carrying 
amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.
Temporary differences are not provided for the initial recognition of other assets or liabilities that affect neither accounting nor taxable profit. 
The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, 
using tax rates enacted or substantively enacted at the statement of financial position date. Rosslyn Data Technologies plc Annual report and accounts 2015 31
2. Accounting policies continued
Taxation continued
A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset 
can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realised.
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities 
and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or 
different taxable entities where there is an intention to settle the balances on a net basis.
Deferred income tax is provided on temporary differences arising on investments in subsidiaries, except for deferred income tax liability where the 
timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the 
foreseeable future.
Research and development
Expenditure on research activities is recognised as an expense in the period in which it is incurred. Any internally generated development costs 
are recognised as an asset only if all of the following are met:
 — an asset is created that can be identified;
 — it is probable that the asset created will generate future economic benefits; and
 — the development cost of the asset can be measured reliably.
Where no internally generated intangible asset can be recognised, development expenditure is recognised as an expense in the period in which 
it is incurred. 
Grants receivable
Grant income is recognised when there is: 1) entitlement to the grant; 2) virtual certainty that it will be received; and 3) sufficient measurability 
of the amount.
Foreign currencies
The functional currency of the Company is pounds sterling because that is the currency of the primary economic environment in which 
the Company operates. The Company’s presentation currency is pounds sterling.
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. 
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are 
taken into account in arriving at the operating result.
Group companies
The results and financial position of all the Group entities (none of which has the currency of a hyperinflation economy) that have a functional 
currency different from the presentation currency are translated into the presentation currency as follows:
 — assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of that statement 
of financial position;
 — income and expenses for each income statement presented are translated at average exchange rates (unless this average is not a reasonable 
approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated 
at the rate on the dates of the transactions); and
 — all resulting exchange differences are recognised in other comprehensive income.
The following exchange rates were applied for £1 at each year end:
2015 2014
US dollars 1.53 1.68
Euros 1.37 1.21
Retirement benefits
The Group operates a defined contribution scheme. Contributions payable to the Group’s pension scheme are charged to the income statement 
in the period to which they relate.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, 
financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Group after 
deducting all of its liabilities. Rosslyn Data Technologies plc Annual report and accounts 2015 32
Financial statements
Notes to the consolidated financial statements continued
for the year ended 30 April 2015
2. Accounting policies continued
Cash and cash equivalents
Cash and cash equivalents are defined as cash in hand, demand deposits and short-term, highly liquid investments readily convertible to known 
amounts of cash and subject to insignificant risk of changes in value.
Trade and other receivables
Trade receivables are stated at their original invoiced value, as the interest that would be recognised from discounting future cash receipts over the 
expected credit period is not considered to be material. Trade receivables are reduced by appropriate allowances for estimated irrecoverable amounts.
Trade and other payables
Trade payables are stated at their original invoiced value, as the interest that would be recognised from discounting future cash payments over 
the expected payment period is not considered to be material.
Financial assets
Classification
The Group classifies its financial assets as loans and receivables. Management determines the classification of its financial assets at initial recognition.
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that arise principally through the provision of services 
to customers. They are initially recognised at fair value and are subsequently stated at amortised cost using the effective interest method. They are 
included in current assets, except for maturities greater than twelve months after the end of the reporting period. Loans and receivables comprise 
mainly cash and cash equivalents and trade and other receivables.
Impairment of financial assets
Impairment provisions are recognised when there is objective evidence (such as significant financial difficulties on the part of the counterparty 
or default or significant delay in payment) that the Group will be unable to collect all of the amounts due under the terms receivable, the amount 
of such a provision being the difference between the net carrying amount and the present value of the future expected cash flows associated 
with the impaired receivable.
For trade receivables, which are reported net, such provisions are recorded in a separate provision account with the loss being recognised within 
other operating costs in the income statement. On confirmation that the trade receivable will not be collectable, the gross carrying value of the 
asset is written off against the associated provision.
Share capital and share premium
Ordinary shares and A preference shares are classified as equity. A preference shares have been deemed equity as they are non-redeemable 
and do not pay a fixed dividend.
Share premium is the amount subscribed for share capital in excess of nominal value less any costs directly attributable to the issue of new shares.
Incremental costs directly attributable to the issue of new shares are shown in share premium as a deduction from the proceeds.
Share-based payments
The Group operates an equity-settled, share-based compensation plan, the Enterprise Management Incentive (EMI) Scheme. The fair value of the 
employee services received in exchange for the grant of the options is recognised as an expense. The total amount to be expensed over the vesting 
period is determined by reference to the fair value of the options granted calculated using an appropriate option pricing model. Non-market vesting 
conditions are included in assumptions about the number of options that are expected to vest. At each statement of financial position date, the 
entity revises its estimates of the number of options that are expected to vest. Options issued under the scheme to Non-Executive Directors and 
other individuals who are not employees of the UK Company follow the EMI rules but are considered non-qualifying EMI options for tax purposes.
Borrowings
Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost; 
any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the income statement over the period 
of the borrowings using the effective interest method.
Provisions
A provision is recognised in the statement of financial position when the Group has a present legal or constructive obligation as a result of a past 
event, and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material, provisions are discounted 
at a rate that reflects current market assessments of the time value of money and, when appropriate, the risks specific to the liability. The increase 
in the provision due to passage of time is recognised in finance costs.
Net finance costs
Finance costs
Finance costs comprise interest payable on borrowings and direct issue costs. Rosslyn Data Technologies plc Annual report and accounts 2015 33
2. Accounting policies continued
Net finance costs continued
Finance income
Finance income comprises interest receivable on funds invested. Interest income is recognised in the income statement as it accrues using 
the effective interest method.
Convertible loan stock
The convertible loan stock, a compound financial instrument, can be converted to share capital at the option of the holder, and the number 
of shares to be issued does not vary with changes in their fair value.
The liability component of a compound financial instrument is recognised initially at the fair value of a similar liability that does not have an equity 
conversion option. The equity component is recognised initially at the difference between the fair value of the compound financial instrument as 
a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components 
in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of a compound financial instrument is 
measured at amortised cost using the effective interest method. The equity component of a compound financial instrument is not re-measured 
subsequent to initial recognition except on conversion or expiry. The Directors have not split out the equity component as it is not material.
Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least twelve months 
after the end of the reporting period.
New standards, amendments and interpretations
In the current year, the Group has adopted the following new standards and interpretations:
 — IFRS 10 Consolidated Financial Statements: This standard provides a single model to be applied in the control analysis for all investees, 
including entities that currently are special purpose entities in the scope of SIC-12.
 — IFRS 11 Joint Arrangements: This standard carves out from IAS 31 those cases in which there is a separate vehicle but that separation is 
overcome by form, contract or other facts and circumstances and removes the choice of equity or proportionate accounting for jointly 
controlled entities (as was under IAS 31).
 — IFRS 12 Disclosure of Interests in Other Entities: This standard contains the disclosure requirements for entities that have interests 
in subsidiaries, joint arrangements (i.e. joint operations or joint ventures), associates and/or unconsolidated structured entities.
 — IAS 27 Separate Financial Statements (2011): IAS 27 (2011) carries forward the existing accounting and disclosure requirements from 
IAS 27 (2008) for separate financial statements, with some minor clarifications.
 — Amendments to IAS 32 and IFRS 7: Offsetting Financial Assets and Financial Liabilities: These amendments clarify offsetting criteria 
and specific disclosures.
The adoption of the new standards and amendments above has had no significant impact on the financial statements of the Company.
At the date of authorisation of the financial statements the following standards and interpretations, which have not been applied in these financial 
statements, were in issue but not yet effective.
 — IFRS 15 Revenue from Contracts with Customers: This standard introduces a five-step framework that is applied to all contracts with customers.
 — IFRIC Interpretation 21 Levies: This interpretation provides guidance on when to recognise a liability for a levy imposed by government.
 — Amendments to IAS 36: Recoverable Amount Disclosures for Non-Financial Assets: This amends the disclosure requirements in IAS 36 
Impairment of Assets with regard to the measurement of the recoverable amount of impaired assets.
The Directors do not expect these standards, amendments and interpretations to have any significant impact on the Group’s financial statements.
Segment reporting
Operating segments are reported in a manner consistent with the internal management reporting of the business to the Executive Directors, 
who have been identified as the Chief Operating Decision Maker.  Rosslyn Data Technologies plc Annual report and accounts 2015 34
Financial statements
Notes to the consolidated financial statements continued
for the year ended 30 April 2015
3. Segmental reporting
Management has determined the operating segments based on the operating reports reviewed by the Executive Directors that are used to assess both 
performance and strategic decisions. Management has identified that the Executive Directors are the Chief Operating Decision Maker in accordance 
with the requirements of IFRS 8 Operating Segments.
All segment revenue, loss before taxation, assets and liabilities are attributable to the principal activity of the Group, being the provision of data 
analytics using a proprietary form.
Year ended 30 April 2015
UK
£
US
£
Total
£
Income
Total revenue 2,025,918 800,116 2,826,034
Total revenue from external customers 2,025,918 800,116 2,826,034
EBITDA (3,269,400) (154,818) (3,424,218)
Depreciation (60,045) — (60,045)
Amortisation (22,645) — (22,645)
Exceptional items — — —
Operating loss (3,352,090) (154,818) (3,506,908)
Finance income 28,687 — 28,687
Finance cost — — —
Loss before income tax (3,323,403) (154,818) (3,478,221)
Total assets 5,618,671 619,893 6,238,564
Total liabilities (1,372,982) (331,242) (1,704,224)
Capital expenditure during the year
Intangible assets 5,626 — 5,626
Property, plant and equipment 151,776 — 151,776
Year ended 30 April 2014
UK
£
US
£
Total
£
Income
Total revenue 1,893,589 172,452 2,066,041
Total revenue from external customers 1,893,589 172,452 2,066,041
EBITDA (2,492,360) (353,381) (2,845,741)
Depreciation (37,829) — (37,829)
Amortisation (2,950) — (2,950)
Exceptional items (223,460) — (223,460)
Operating loss (2,756,599) (353,381) (3,109,980)
Finance cost (1,753) — (1,753)
Loss before income tax (2,758,352) (353,381) (3,111,733)
Total assets 9,733,072 194,155 9,927,227 
Total liabilities (1,883,442) (235,280) (2,118,722) 
Capital expenditure during the year
Intangible assets 19,450 — 19,450
Property, plant and equipment 23,678 — 23,678 Rosslyn Data Technologies plc Annual report and accounts 2015 35
4. Employees and Directors
Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Wages and salaries 3,250,434 2,226,553
Social security costs 321,316 193,300
Other pension costs 53,150 34,012
Share-based payment expense – Directors — 196,500
Share-based payment expense – staff — 132,500
3,624,900 2,782,865
The average monthly number of employees during the years was as follows:
 Year ended
30 April 
2015
Year ended
30 April 
2014
Management 6 4
Research and development 20 14
Sales and marketing 28 23
54 41
Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Directors’ emoluments 917,643 694,756
Directors’ pension contributions to money purchase schemes 48,000 22,000
The number of Directors to whom retirement benefits were accruing was as follows:
Money purchase schemes 4 1
During the year no (2014: no) Director exercised share options. 
Information regarding the highest paid Director is as follows:
Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Aggregate emoluments 233,303 170,969
There were pension contributions in respect of the highest paid Director of £12,000 (2014: £nil).
The highest paid Director exercised nil (2014: nil) share options during the year (see note 23). 
5. Net finance costs
 Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Finance income
Interest receivable 28,687 —
Finance costs
Loan interest paid — 1,753
Net finance costs 28,687 1,753 Rosslyn Data Technologies plc Annual report and accounts 2015 36
Financial statements
Notes to the consolidated financial statements continued
for the year ended 30 April 2015
6. Exceptional items
During the year settlement and legal costs of £nil (2014: £223,460) were incurred in respect of an employee-related matter. This matter was resolved 
in full and no further costs are expected.
7. Loss before income tax
The loss before income tax is stated after charging/(crediting):
 Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Share-based payments — 329,000
Grants receivable (128,948) (34,615)
Depreciation – owned assets 60,045 37,829
Loss on disposal of fixed assets 16,742 —
Website development amortisation 22,645 2,950
Auditor’s remuneration 35,000 55,000
Auditor’s remuneration for non-audit services – tax advisory 6,750 30,000
Foreign exchange (gains)/losses (38,052) 8,375
Operating lease rentals 80,341 60,000
8. Income tax
Analysis of income tax
Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Current tax
Corporation tax on losses of the year (218,082) (147,643)
Deferred tax
Origination and reversal of timing differences (see note 15) (4,134) (867)
Total tax (222,216) (148,510)
Factors affecting the tax credit
The differences between the total current tax shown above and the amount calculated applying the standard rate of UK corporation tax to the loss 
before tax are explained below:
Year ended
30 April 
2015
£
Year ended
30 April 
2014
£
Loss on ordinary activities before tax (3,478,221) (3,111,733)
Loss on ordinary activities multiplied by the standard rate of corporation tax in the UK of 20.92% 
(2014: 22.83%) (727,644) (710,407)
Effects of:
Disallowable expenses 15,755 4,436
Unrecognised deferred tax asset on losses 711,889 705,971
Research and development tax credit (218,082) (147,643)
Deferred tax (see note 15) (4,134) (867)
Total tax (222,216) (148,510) Rosslyn Data Technologies plc Annual report and accounts 2015 37
8. Income tax continued
Factors affecting the tax credit continued
The standard rate of corporation tax in the UK changed from 24% to 23% with effect from 1 April 2013. Accordingly, the Group’s profits for the 
accounting period to 30 April 2013 were taxed at an effective rate of 23.917%. The standard rate of corporation tax in the UK changed from 23% to 
21% with effect from 1 April 2014. Accordingly, the Group’s profits for the accounting period to 30 April 2014 are taxed at an effective rate of 22.83%.
In addition to the changes in rates of corporation tax disclosed above, further changes to the UK corporation tax system were announced in the 
March 2013 UK Budget Statement and substantively enacted as part of the Finance Bill 2013 on 2 July 2013. These included reductions to the main 
rate of corporation tax by a further 1% to 20% by 1 April 2015. This further rate reduction had been substantively enacted at the balance sheet date 
and, therefore, the relevant deferred tax balances have been re-measured.
9. Loss per share
Basic earnings per share is calculated by dividing the net profit for the year attributable to ordinary shareholders by the weighted average number 
of ordinary shares outstanding during the year.
Diluted earnings per share is calculated by dividing the net profit for the year attributable to ordinary shareholders by the weighted average 
number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on the 
conversion of all dilutive potential ordinary shares into ordinary shares.
Year ended
30 April 
2015
Year ended
30 April 
2014
Loss for the year attributable to the owners of the parent £3,274,508 £2,963,223
Weighted average number of ordinary shares 75,421,595 39,885,226
Pence Pence
Basic and diluted loss per share: ordinary shareholders 4.34 7.43
Earnings per share has been calculated on the basis of the capital restructuring immediately prior to the IPO in accordance with IAS 33.
10. Intangible assets
Website
development
£
Cost
At 1 May 2013 3,500
Additions 19,450
At 30 April 2014 22,950
At 1 May 2014 22,950
Additions 5,626
Impairment (28,576)
At 30 April 2015 —
Accumulated amortisation
At 1 May 2013 2,981
Amortisation for year 2,950
At 30 April 2014 5,931
At 1 May 2014 5,931
Amortisation for year 22,645
Impairment (28,576)
At 30 April 2015 —
Net book value
At 30 April 2014 17,019
At 30 April 2015 — Rosslyn Data Technologies plc Annual report and accounts 2015 38
Financial statements
Notes to the consolidated financial statements continued
for the year ended 30 April 2015
11. Property, plant and equipment
Computer
equipment
£
Cost
At 1 May 2013 90,673
Additions 23,678
At 30 April 2014 114,351
At 1 May 2014 114,351
Additions 151,776
Disposals (83,696)
At 30 April 2015 182,431
Accumulated amortisation
At 1 May 2013 47,506
Charge of the year 37,829
At 30 April 2014 85,335
At 1 May 2014 85,335
Charge for the year 60,045
Impairment (66,954)
At 30 April 2015 78,426
Net book value
At 30 April 2014 29,016
At 30 April 2015 104,005
12. Trade and other receivables
2015
£
2014
£
Amounts falling due within one year
Trade receivables due but not past due 419,619 272,770
Trade receivables past due 146,842 226,120
Impairment provision — (48,000)
Trade receivables – net 566,461 450,890
Other receivables 31,424 18,000
Prepayments and accrued revenue 569,369 176,548
VAT 36,493 68,653
1,203,747 714,091 Rosslyn Data Technologies plc Annual report and accounts 2015 39
12. Trade and other receivables continued
Included within the trade receivables past due above are amounts which are not impaired and aged as follows:
2015
£
2014
£
Overdue by:
Up to 30 days 67,787 85,228
30–60 days 7,688 68,517
60–90 days 26,400 14,655
Over 90 days 44,967 9,720
146,842 178,120
Trade and other receivables are all current and any fair value difference is not material. Trade receivables are considered past due once they have 
passed their contracted due date. Trade receivables are reviewed for impairment if they are past due beyond 90 days.
The below movement on the provision for impairment of trade receivables is as follows:
2015
£
2014
£
At start of year 48,000 12,000
Provision for receivables impairment — 36,000
Provision release (48,000) —
At end of year — 48,000
The provision for impaired receivables has been included in administrative expenses.
The below represents trade receivables held in foreign currencies at the statement of financial position date:
2015
£
2014
£
US dollars — 180,491
— 180,491 
13. Cash and cash equivalents
2015
£
2014
£
Cash at bank 4,712,730 9,019,458
The following amounts were held in foreign currencies at the statement of financial position date:
2015
£
2014
£
US dollars 286,510 14,497
Euros 1,087 1,057
287,597 15,554 Rosslyn Data Technologies plc Annual report and accounts 2015 40
Financial statements
Notes to the consolidated financial statements continued
for the year ended 30 April 2015
14. Trade and other payables
2015
£
2014
£
Current
Trade payables 257,204 892,310
Social security and other taxes 87,269 48,219
Other payables — 9,000
Accruals and deferred revenue 1,359,751 965,059
1,704,224 1,914,588
Included with accruals and deferred revenue is an amount of £681,873 (2014: £522,142) in relation to deferred revenue.
15. Deferred tax
Deferred tax relates to the following:
2015
£
2014
£
Accelerated capital allowances (14,709) (4,134)
Deferred tax asset relating to losses 14,709 —
Deferred tax liability — (4,134)
The movement in deferred tax is shown below:
2015
£
2014
£
Deferred tax liability at start of year (4,134) (5,001)
Deferred tax asset on losses 14,709 —
Accelerated capital allowances (10,575) 867
Deferred tax liability at end of year — (4,134)
At the balance sheet date the Group had unused tax losses of £1,828,228 (2014: £1,101,630) available for offset against future profits. A deferred tax 
asset has been recognised in respect of £14,709 (2014: nil) of such losses as these losses would offset any taxable profits arising as a result of the 
unwinding of the deferred tax liability. No deferred tax asset has been recognised in respect of the remaining £1,813,519 (2013: £1,101,630) due 
to the unpredictability of future profit streams. Substantially all of the losses may be carried forward indefinitely.
16. Net funds/(debt)
Analysis of net funds/(debt)
Net funds/(debt) is the total of cash and cash equivalents less interest-bearing loans and borrowings and finance lease liabilities. Cash and cash 
equivalents comprise cash balances, call deposits and other short-term liquid investments such as money market funds which are subject to an 
insignificant risk of a change in value.
2015
£
2014
£
Cash and cash equivalents 4,712,730 9,019,458
Interest-bearing loans and borrowings (see note 17) — (200,000)
Net debt 4,712,730 8,819,458 Rosslyn Data Technologies plc Annual report and accounts 2015 41
17. Financial liabilities – borrowings
2015
£
2014
£
Current
Other loans — 200,000
— 200,000
During the prior year, the Group received an interest-bearing loan of £200,000 from a Non-Executive Director. Interest was charged on a daily basis 
at a rate of 20% per annum. The loan was repaid on 2 May 2014 and the financial statements include interest accrued of £1,753.
18. Called up share capital
Allotted, issued and fully paid 
Number Class Nominal value
2015 
£
2014
£
75,445,814 (2014: 75,405,814) Ordinary shares £0.005 (2014: £0.005) 377,229 377,029
377,229 377,029
The following fully paid ordinary shares of £0.005 each were allotted during the year ended 30 April 2015 at a premium as shown below:
On 23 April 2014, the Company entered into a share for share exchange agreement with all of the shareholders of Rosslyn Analytics Ltd as at that date, 
pursuant to which the Company acquired the entire issued share capital in Rosslyn Analytics Ltd in consideration for the allotment of, in aggregate, 
28,756,752 ordinary shares and 16,346,032 A preference shares. The Rosslyn Analytics Ltd shareholders were allotted eight ordinary shares of £0.005 
each for each ordinary share of £0.0001 held by them in Rosslyn Analytics Ltd, and eight A preference shares of £0.005 each for each A preference 
share of £0.0001 held by them in Rosslyn Analytics Ltd, with the exception of one shareholder who was allotted two fewer ordinary shares of £0.005 
each to take account of his holding the two issued shares in the Company on the date thereof. The ordinary shares in the Company had the same 
rights and were subject to the same obligations as the ordinary shares in Rosslyn Analytics Ltd immediately prior to the share for share exchange, 
and the A preference shares had the same rights and were subject to the same obligations as the A preference shares in Rosslyn Analytics Ltd 
immediately prior to the share for share exchange.
By special resolution dated 24 April 2014, with effect immediately prior to listing on 29 April 2014, each of the 16,346,032 A preference shares 
of £0.005 each in issue were re-designated as ordinary shares of £0.005 each.
Upon the placing on AIM, 30,303,030 ordinary shares of £0.005 each were allotted at a price including premium of £0.33 per share.
Allotted during December 2014
40,000 ordinary shares of £0.005 each at £0.008575 per share.
19. Leasing agreements 
The minimum lease payments for the rental of office premises and equipment under non-cancellable operating leases fall as follows:
2015
£
2014
£
Within one year 108,848 60,000
Between one and five years 136,060 135,000
244,908 195,000
20. Related party disclosures
During the year, the Group paid IQ Capital Directors Nominees Ltd, a Group Director during the year, £nil (2014: £33,727) for monthly management 
services provided. The agreement was undertaken at arm’s length.
During the prior year, the Group received an interest-bearing loan from Chairman J E O’Hara as described further in note 17.
The Group entered into a nominated adviser and broker agreement and a placing agreement with Cenkos. On 6 November 2013, Cenkos was paid 
a commission of £80,002 in aggregate in connection with services provided to the Group relating to the private placing of shares, of which the amount 
was used by Cenkos to subscribe for 26,173 A preference shares. On 11 December 2013, Cenkos became entitled to payment of commission in the 
amount of £36,000 in aggregate in connection with services provided to the Group relating to the private placing of shares. A payment was made 
to Cenkos on 29 April 2014 of £772,815 in respect of services associated with the IPO. Rosslyn Data Technologies plc Annual report and accounts 2015 42
Financial statements
Notes to the consolidated financial statements continued
for the year ended 30 April 2015
20. Related party disclosures continued
F H M Reid provided a short-term loan in the amount of £nil (2014: £50,000) to the Group, which has been repaid in full without interest.
T Cocks, the father of a shareholder of the Company, provided a short-term loan in the amount of £nil (2014: £75,000) to the Group, which has 
been repaid in full without interest.
In 2014 the Group granted a warrant to subscribe for 200,000 ordinary shares to T Cocks at an exercise price per share of 38.208425p. This warrant 
expires three years after the initial listing date, 29 April 2014.
21. Ultimate controlling party
There was no ultimate controlling party as at 30 April 2015 or 30 April 2014.
22. Financial instruments
Categories of financial instrument
2015
£’000
2014
£’000
Current
Trade and other receivables - loans and receivables 1,422 862
Trade and other receivables – non-financial assets — —
1,422 862
Cash and cash equivalents- loans and receivables 4,712 9,019
Total loans and receivables 6,134 9,881
Trade and other payables – other financial liabilities at amortised cost 1,704 2,118
Trade and other payables – non financial liabilities — —
1,704 2,118
Financial risk management
The Group’s activities expose it to a variety of financial risks: market risk (primarily foreign exchange risk and interest rate risk), credit risk and liquidity 
risk. The Group’s overall risk management programme focuses on the unpredictability of markets and seeks to minimise potential adverse effects 
on the Group’s financial performance. Risk management is carried out by the Board and their policies are outlined below.
a) Market risk
Foreign exchange risk
The Group is exposed to translation and transaction foreign exchange risk as it operates within the USA and other countries around the world 
and therefore transactions are denominated in Sterling, Euro, US Dollars and other currencies. The Group policy is to try and match the timing 
of the settlement of sales and purchase invoices so as to eliminate, as far as possible, currency exposure.
The Group does not hedge any transactions and foreign exchange differences on retranslation of foreign currency monetary assets and liabilities 
are taken to the income statement. 
The carrying value of the Group’s foreign currency denominated assets and liabilities are set out below:
2015 2014
Assets
£’000
Liabilities 
£’000
Assets
£’000
Liabilities
£’000
US Dollars 367 233 17 207
Euros 3 3 — —
370 236 17 207
The majority of the group’s financial assets are held in Sterling but movements in the exchange rate of the US Dollar and the Euro against Sterling 
have an impact on both the result for the year and equity. The Group considers its most significant exposure is to movements in the US Dollar.
Sensitivity to reasonably possible movements in the US Dollar exchange rate can be measured on the basis that all other variables remain 
constant. The effect on profit and equity of strengthening or weakening of the US Dollar in relation to sterling by 10% would result in a 
movement of ±£32,000 (2014: ±£24,000). 
Interest rate risk
As the Group carries no borrowings the directors consider that there is no significant interest rate risk. Rosslyn Data Technologies plc Annual report and accounts 2015 43
22. Financial instruments continued
b) Credit risk
Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Group. In order to minimise 
this risk the Group endeavours only to deal with companies which are demonstrably creditworthy and this, together with the aggregate financial 
exposure, is continuously monitored. The maximum exposure to credit risk is the value of the outstanding amount of £1,203,747 (2014: £714,091).
Provision of services by members of the Group results in trade receivables which the management consider to be of low risk, other receivables are 
likewise considered to be low risk. The management do not consider that there is any concentration of risk within either trade or other receivables. 
No trade or other receivables have been impaired.
Credit risk on cash and cash equivalents is considered to be small as the counterparties are all substantial banks with high credit ratings. The maximum 
exposure is the amount of the deposit.
c) Liquidity risk
The Group currently holds cash balances in Sterling, US Dollars and Euros to provide funding for normal trading activity. The Group also has access 
to additional equity funding and, for short term flexibility, overdraft facilities would be arranged with the Group’s bankers. Trade and other payables 
are monitored as part of normal management routine. Liabilities are disclosed as follows:
2015
Within 
1 year
£’000
One to 
two years
£’000
Two to 
five years
£’000
Over 
five years 
£’000
Trade payables 257 — — —
Accruals 1,360 — — —
Other 87 — — —
2014
Within 
1 year
£’000
One to 
two years
£’000
Two to 
five years
£’000
Over 
five years 
£’000
Trade payables 892 — — —
Accruals 965 — — —
Other 57 — — —
Capital risk management
The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in a volatile and tight credit economy.
The Group will also seek to minimise the cost of capital and attempt to optimise the capital structure, which currently means maintaining equity 
funding and keeping debt levels to insignificant amounts of lease funding. Share capital and premium together amount to £8,892 (see page 27).
Whilst the group does not currently pay dividends it is part of the capital strategy to provide returns for shareholders and benefits for other 
members in the future. However, the Group is planning growth and it will continue to be important to maintain the Groups credit rating and ability 
to borrow should acquisition targets become available. 
Capital for further development of the Group’s activities will, where possible, be achieved by share issues and not by carrying significant debt.  Rosslyn Data Technologies plc Annual report and accounts 2015 44
Financial statements
Notes to the consolidated financial statements continued
for the year ended 30 April 2015
23. Share-based payment transactions
The Directors approved the allocation of share-based payments to various staff members ahead of listing to help align employee interests 
with shareholder returns. Details of the share-based payment arrangement are described below:
Type of arrangement Enterprise Management Incentive Scheme
Date granted 31 October 2014
Number granted 679,516 
Contractual life 10 years
Number of employees in scheme 27
Vesting conditions Vest on grant
Enterprise Management Incentive Scheme – number of stock options
2015 2014
Weighted 
average
exercise price
Outstanding at start of year 1,156,000 — 0.0443p
Granted 679,516 1,156,000 0.33p
Forfeited/cancelled (104,000) — 0.01p
Exercised (40,000) — 0.01p
Outstanding at end of year 1,691,516 1,156,000 0.1372p
During the year, the Group recognised an expense of £nil (2014: £329,000) in relation to the scheme.
Based on the Black Scholes options pricing model, the charge on vesting is immaterial for those options issued during the year. Rosslyn Data Technologies plc Annual report and accounts 2015 45
We have audited the parent company financial statements of 
Rosslyn Data Technologies plc for the year ended 30 April 2015 which 
comprise the company balance sheet, the reconciliation of movements 
in shareholders’ funds and the related notes. The financial reporting 
framework that has been applied in their preparation is applicable 
law and United Kingdom Accounting Standards (United Kingdom 
Generally Accepted Accounting Practice).
This report is made solely to the company’s members, as a body, 
in accordance with Chapter 3 of Part 16 of the Companies Act 2006. 
Our audit work has been undertaken so that we might state to the 
company’s members those matters we are required to state to them 
in an auditor’s report and for no other purpose. To the fullest extent 
permitted by law, we do not accept or assume responsibility to anyone 
other than the company and the company’s members as a body, for 
our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditor
As explained more fully in the Directors’ Responsibilities Statement, 
the directors are responsible for the preparation of the parent company 
financial statements and for being satisfied that they give a true and fair 
view. Our responsibility is to audit and express an opinion on the parent 
company financial statements in accordance with applicable law and 
International Standards on Auditing (UK and Ireland). Those standards 
require us to comply with the Auditing Practices Board’s Ethical Standards 
for Auditors.
Scope of the audit of the financial statements
A description of the scope of an audit of financial statements 
is provided on the Financial Reporting Council’s website at  
www.frc.org.uk/auditscopeukprivate.
Opinion on financial statements
In our opinion the parent company financial statements:
 — give a true and fair view of the state of the company’s affairs 
as at 30 April 2015;
 — have been properly prepared in accordance with United Kingdom 
Generally Accepted Accounting Practice; and
 — have been prepared in accordance with the requirements 
of the Companies Act 2006.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion the information given in the Strategic Report 
and Directors’ Report for the financial year for which the financial 
statements are prepared is consistent with the parent company 
financial statements. 
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the 
Companies Act 2006 requires us to report to you if, in our opinion:
 — adequate accounting records have not been kept by the parent 
company, or returns adequate for our audit have not been received 
from branches not visited by us; or
 — the parent company financial statements are not in agreement 
with the accounting records and returns; or
 — certain disclosures of directors’ remuneration specified by law 
are not made; or
 — we have not received all the information and explanations we 
require for our audit.
Other matter
We have reported separately on the group financial statements 
of Rosslyn Data Technologies plc for the year ended 30 April 2015. 
Nicholas Page
Senior Statutory Auditor
for and on behalf of Grant Thornton UK LLP
Statutory Auditor, Chartered Accountants
Gatwick
16 September 2015
Independent auditor’s report
to the members of Rosslyn Data Technologies plc Rosslyn Data Technologies plc Annual report and accounts 2015 46
Financial statements
Registered number: 08882249
Note
As at
30 April
2015
£
As at
30 April
2014
£
Assets
Fixed assets
Investments E 8,725,514 8,725,514
8,725,514 8,725,514
Current assets
Debtors F 126,488 176,498
Cash at bank and in hand G 106,426 8,948,605
232,914 9,125,103
Total assets 8,958,428 17,850,617
Liabilities
Current liabilities
Creditors: amounts falling due within one year H (45,156) (8,957,815)
Total liabilities (45,156) (8,957,815)
Net assets 8,913,272 8,892,802
Capital and reserves
Called up share capital I 377,229 377,029
Share premium account 8,515,916 8,515,773
Profit and loss account 20,127 —
Total shareholders’ funds 8,913,272 8,892,802
The notes on pages 48 to 51 form part of these financial statements.
The financial statements were approved by the Board of Directors on 16 September 2015 and were signed on its behalf by:
Charles Clark
Chief Executive Officer
16 September 2015
Company balance sheet
as at 30 April 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 47
Note
Called up
share capital
£
Share
premium
account
£
Profit and
loss account
£
Total
equity
£
Balance at 1 May 2014 377,029 8,515,773 — 8,892,802
Issue of share capital I 200 143 — 343
Profit for the year — — 20,127 20,127
Balance at 30 April 2015 377,229 8,515,916 20,127 8,913,272
Company reconciliation of movements 
in shareholders’ funds
for the year ended 30 April 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 48
Financial statements
A. General information
Rosslyn Data Technologies Ltd was incorporated on 7 February 2014 and on 24 April 2014 converted from a private limited company 
to Rosslyn Data Technologies plc (the “Company”).
Rosslyn Data Technologies plc is a company incorporated and domiciled in the UK. The address of the registered office is 25 Eccleston Place, 
London SW1W 9NF. The Group’s principal activity is the provision of management services. 
The principal accounting policies adopted in the preparation of the Company’s financial information are set out below. The policies have been 
consistently applied to all the periods presented.
B. Accounting policies 
Basis of preparation
The financial statements have been prepared and approved by the Directors in accordance with United Kingdom Generally Accepted Accounting 
Practice (UK GAAP) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The preparation of the financial statements in conformity with UK GAAP requires the use of certain critical accounting estimates and requires 
management to exercise its judgement in the process of applying the Group’s accounting policies. It also requires the use of assumptions that 
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements 
and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management’s best 
knowledge of current events and actions, actual results may ultimately differ from those estimates.
Going concern
The Company financial statements have been prepared on a going concern basis in accordance with the basis of preparing the Group financial 
statements on a going concern basis.
Taxation
Taxation comprises current and deferred tax. Current tax is the expected tax payable (or recoverable) for the current period, using tax rates enacted 
or substantively enacted at the statement of financial position date.
Except as otherwise required by accounting standards, full provision without discounting is made for all deferred taxation timing differences 
which have arisen but not reversed at the statement of financial position date. Timing differences arise when items of income and expenditure 
are included in tax computations in periods which are different from their inclusion in the financial statements. A deferred tax asset is recognised 
only to the extent that it is probable that future taxable profits will be available against which the asset can be used.
Deferred tax assets and liabilities are measured at the tax rate that is expected to apply to the period when the asset is realised or the liability 
is settled, based on the rates that have been enacted or substantively enacted at the statement of financial position date.
Cash at bank and in hand
Cash and cash equivalents are defined as cash in hand, demand deposits and short-term, highly liquid investments readily convertible to known 
amounts of cash and subject to insignificant risk of changes in value.
Financial assets
Impairment of financial assets
Impairment provisions are recognised when there is objective evidence (such as significant financial difficulties on the part of the counterparty or default 
or significant delay in payment) that the Company will be unable to collect all of the amounts due under the terms receivable, the amount of such a provision 
being the difference between the net carrying amount and the present value of the future expected cash flows associated with the impaired receivable.
For debtors, which are reported net, such provisions are recorded in a separate provision account with the loss being recognised within other 
operating costs in the profit and loss account. On confirmation that the trade receivable will not be collectable, the gross carrying value 
of the asset is written off against the associated provision.
Investments
Investments are stated at cost less provision for diminution in value. The carrying amounts of the Company’s investments are reviewed for impairment 
when events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. If such an indication exists, 
the investment’s recoverable amount is estimated. An impairment loss is recognised in the statement of comprehensive income whenever the 
carrying amount of an investment exceeds its recoverable amount.
Notes to the Company’s financial statements 
for the year ended 30 April 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 49
B. Accounting policies continued 
Share capital and share premium
Ordinary shares are classified as equity. 
Share premium is the amount subscribed for share capital in excess of nominal value less any costs directly attributable to the issue of new shares.
Incremental costs directly attributable to the issue of new shares are shown in share premium as a deduction from the proceeds.
Provisions
A provision is recognised in the statement of financial position when the Company has a present legal or constructive obligation as a result of a 
past event, and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material, provisions are 
discounted at a rate that reflects current market assessments of the time value of money and, when appropriate, the risks specific to the liability. 
The increase in the provision due to passage of time is recognised in finance costs.
C. Result of parent company
As permitted by Section 408 of the Companies Act 2006, the income statement of the Company is not presented as part of these financial 
statements. The Company’s result for the financial period is £20,127 (2014: £nil).
D. Employees and Directors
The Executive Directors commenced employment with the Company on 29 April 2014. Remuneration costs have been recharged to Rosslyn Analytics Ltd.
E. Investments
Shares in subsidiary
£
Cost
At 1 May 2014 8,725,514
At 30 April 2015 8,725,514
Net book value
At 30 April 2015 8,725,514
At 30 April 2014 8,725,514
Principal subsidiary undertakings of the Company
The Company owns directly the whole of the issued and fully paid ordinary share capital of its subsidiary undertaking. The principal undertakings 
of the Company at 30 April 2015 are presented below:
Subsidiary Nature of business
Country of
incorporation Cost
Proportion of
ordinary shares 
held by Company
Rosslyn Analytics Ltd Provision of data analytics using a proprietary technology UK £8,725,514 100%
Rosslyn Analytics, Inc. Provision of data analytics using a proprietary technology US — —
Rosslyn Analytics, Inc. is a wholly owned subsidiary of Rosslyn Analytics Ltd. 
F. Trade and other receivables
2015
£
2014
£
VAT 29,931 64,907
Amounts owed by Group undertakings 96,557 111,591
126,488 176,498
Amounts owed by Group undertakings are interest free and repayable upon demand. Rosslyn Data Technologies plc Annual report and accounts 2015 50
Financial statements
G. Cash at bank and in hand
2015
£
2014
£
Cash at bank 106,426 8,948,605
H. Creditors: amounts falling due within one year
2015
£
2014
£
Trade creditors 3,216 399,400
Amounts owed to Group undertakings — 8,500,000
Accruals and deferred income 25,000 49,415
Other creditors — 9,000
Social security and other taxes 16,940 —
45,156 8,957,815
I. Called up share capital
Allotted, issued and fully paid
Number Class Nominal value
2015
£
2014
£
75,445,814 (2014: 75,405,814) Ordinary shares £0.005 (2014: £0.005) 377,229 377,029
On 23 April 2014, the Company entered into a share for share exchange agreement with all of the shareholders of Rosslyn Analytics Ltd as at that date, 
pursuant to which the Company acquired the entire issued share capital in Rosslyn Analytics Ltd in consideration for the allotment of, in aggregate, 
28,756,752 ordinary shares and 16,346,032 A preference shares. The Rosslyn Analytics Ltd shareholders were allotted eight ordinary shares of £0.005 
each for each ordinary share of £0.0001 held by them in Rosslyn Analytics Ltd, and eight A preference shares of £0.005 each for each A preference 
share of £0.0001 held by them in Rosslyn Analytics Ltd, with the exception of one shareholder who was allotted two fewer ordinary shares of £0.005 
each to take account of his holding the two issued shares in the Company on the date thereof. The ordinary shares in the Company had the same 
rights and were subject to the same obligations as the ordinary shares in Rosslyn Analytics Ltd immediately prior to the share for share exchange, 
and the A preference shares had the same rights and were subject to the same obligations as the A preference shares in Rosslyn Analytics Ltd 
immediately prior to the share for share exchange.
By special resolution dated 24 April 2014, with effect immediately prior to listing on 29 April 2014, each of the 16,346,032 A preference shares 
of £0.005 each in issue were re-designated as ordinary shares of £0.005 each.
Upon the placing on AIM, 30,303,030 ordinary shares of £0.005 each were allotted at a price including premium of £0.33 per share.
Allotted during December 2014
40,000 ordinary shares of £0.005 each at £0.008575 per share.
J. Related party disclosures
In 2014 the Company granted a warrant to subscribe for 200,000 ordinary shares to T Cocks, the father of a Director of the Company, at an exercise 
price of 38.208425p per share.
Included within debtors is an amount of £96,557 (2014: £111,591) due from Rosslyn Analytics Ltd, a subsidiary company. This amount is made 
up of recharged costs.
Included within creditors is an amount of £nil (2014: £9,000) due to Cenkos Securities plc in relation to an overpayment to the Company. 
This amount was repaid on 2 May 2014.
Included within creditors is an amount of £nil (2014: £8,500,000) due to Rosslyn Analytics Ltd as described in note H.
K. Ultimate controlling party
There was no ultimate controlling party as at 30 April 2015.
Notes to the Company’s financial statements continued
for the year ended 30 April 2015 Rosslyn Data Technologies plc Annual report and accounts 2015 51
L. Financial risk management
The Company’s activities expose it to a variety of financial risks: credit risk, liquidity risk and capital risk.
Risk management is carried out by the Board of Directors. The Company uses financial instruments to provide flexibility regarding its working 
capital requirements and to enable it to manage specific financial risks to which it is exposed. Transactions are only undertaken if they relate 
to actual underlying exposures and hence cannot be viewed as speculative.
a. Foreign exchange risk
The Company is not exposed to foreign exchange risk.
b. Interest rate risk
The Company is not exposed to interest rate risk.
c. Credit risk
The Company trades almost exclusively with its subsidiaries. The credit risk for the Company reflects the risks for the Group. These risks are set out 
in the Group financial statements.
d. Liquidity risk
Cash flow forecasting is performed by management, which monitors rolling forecasts of the Company’s liquidity requirements to ensure it has 
sufficient cash to meet operational needs.
e. Capital risk
The aim of the Company is to maintain sufficient funds to ensure it has adequate working capital to conduct its business operations. It achieves 
this by either borrowing or raising equity capital from shareholders. Rosslyn Data Technologies plc Annual report and accounts 2015 52
Financial statements
Notice is hereby given to the shareholders of Rosslyn Data T echnologies plc 
(the “Company”) that the Annual General Meeting of the Company will 
be held at The Viceroy Room, The Grosvenor Hotel, 101 Buckingham 
Palace Road, London SW1W 0SJ on 28 October 2015 at 11.00am. 
Shareholders will be asked to consider and, if thought fit, to pass the 
following resolutions (the “Resolutions”), of which Resolutions 1 to 7 
will be proposed as ordinary resolutions and Resolution 8 will be 
proposed as a special resolution.
Please note that additional information concerning the proposed 
Resolutions is included in the explanatory notes which accompany 
and form part of this Notice of Annual General Meeting.
Ordinary resolutions
1.  To receive and consider the Company’s annual financial statements, 
together with the Report of the Directors and of the auditor of the 
Company, for the year to 30 April 2015.
2.  To re-appoint Grant Thornton UK LLP as auditor of the Company to 
hold office from the conclusion of this meeting until the conclusion 
of the next Annual General Meeting of the Company.
3.  To authorise the Directors of the Company to determine the 
auditor’s remuneration.
4.  To elect Roger Bullen, who retires as a Director having been appointed 
since the last Annual General Meeting as a Director of the Company.
5.  To re-elect Charles Clark, who retires as a Director by rotation, 
as a Director of the Company.
6.  To re-elect Edward Stacey, who retires as a Director by rotation, 
as a Director of the Company.
7.  That in accordance with the Section 551 of the Companies Act 2006 
(the “2006 Act”) the Directors of the Company be and are generally 
and unconditionally authorised to exercise all the powers of the 
Company to allot ordinary shares of £0.005 each in the Company, or 
to grant rights to subscribe for or to convert any security into shares 
in the Company provided that the power hereby granted shall be 
limited to ordinary shares:
  7.1  up to a maximum nominal amount of £9,460 (in pursuance 
of the exercise of outstanding options and warrants granted 
by the Company prior to the date hereof but for no other 
purpose);
  7.2  up to an aggregate nominal amount of £19,000 (in addition 
to the authority conferred in sub paragraph 7.1 above) for 
the grant or award of further share options or warrants but 
for no other purpose; and
  7.3  up to an aggregate nominal value of £37,723 (in addition to 
the authorities conferred in sub paragraphs 7.1 and 7.2 above) 
representing approximately 10% of the Company’s issued share 
capital, provided that these authorities, unless duly renewed, 
varied or revoked by the Company, will expire on the date which 
is 15 months from the date of the passing of this resolution or, if 
earlier, the conclusion of the next Annual General Meeting of the 
Company to be held after the passing of this resolution, save that 
the Company may, before such expiry, make offers or agreements 
which would or might require shares in the Company to be allotted 
after such expiry and the Directors may allot shares in the Company 
in pursuance of such an offer or agreement notwithstanding 
that the authority conferred by this resolution has expired.
   The authority granted pursuant to this resolution is subject 
to such exclusions or other arrangements as the Directors 
may deem necessary or expedient in relation to fractional 
entitlements, record dates, legal or practical problems in or 
under the laws of any territory or the requirements of any 
applicable regulatory body or stock exchange.
   This resolution revokes and replaces all unexercised powers 
previously granted to the Directors to allot relevant securities 
but without prejudice to any allotment of shares or grant of 
rights already made, offered or agreed to be made, pursuant 
to such authorities.
Special resolution
8.  That subject to and conditional on the passing of Resolution 7, the 
Directors of the Company be and are hereby authorised pursuant 
to Section 570 of the 2006 Act to allot equity securities (within the 
meaning of Section 560 of the 2006 Act) for cash as if Section 561(1) 
of the 2006 Act did not apply to any such allotment provided that 
this authority shall be limited to the allotment of shares pursuant to 
the authorities contained in Resolution 7. This authority, unless duly 
renewed, varied, or revoked by the Company, will expire on the date 
which is 15 months from the date of the passing of this resolution 
or, if earlier, the conclusion of the next Annual General Meeting of 
the Company to be held after the passing of this resolution, save 
that the Company may before such expiry make any offer or enter 
into any agreement which would or might require equity securities 
to be allotted, or treasury shares sold, after such expiry and the 
Directors may allot equity securities in pursuance of any such offer 
or agreement as if the authority conferred by this resolution had 
not expired.
By order of the Board
F&L CoSec Limited
Company Secretary
Rosslyn Data Technologies plc
25 Eccleston Place
London SW1W 9NF
16 September 2015
Notice of Annual General Meeting Rosslyn Data Technologies plc Annual report and accounts 2015 53
The following notes have been prepared to provide members with information to assess the merits of the resolutions contained within the 
notice of Annual General Meeting (the “Notice of Annual General Meeting”) convening the Annual General Meeting of the Company to be held at 
The Viceroy Room, The Grosvenor Hotel, 101 Buckingham Palace Road, London SW1W 0SJ on 28 October 2015 at 11.00am. Capitalised terms 
used in these notes shall bear the meanings given to them in the Notice of Annual General Meeting.
Resolution 1 – To receive the annual financial statements (ordinary resolution)
The Directors will present their report, the Auditor’s Report and the audited financial statements for the financial year ended 30 April 2015 to the 
meeting. This gives shareholders an opportunity to ask questions on the contents and on the performance of the Company generally. 
Resolutions 2 and 3 – Re-appointment of the auditor and setting the auditor’s remuneration (ordinary resolutions)
The Company is required to appoint an auditor at each general meeting at which accounts of the Company are laid before the members of 
the Company. Grant Thornton UK LLP has indicated its willingness to be re-appointed as auditor of the Company and accordingly Resolution 2 
proposes that Grant Thornton UK LLP be re-appointed as auditor of the Company. Resolution 3 gives the Directors the authority, in accordance 
with standard practice, to negotiate and agree the remuneration of the auditor. In practice the Audit Committee will consider and approve the 
audit fees on behalf of the Board.
Resolutions 4 to 6 – Election of Directors (ordinary resolutions)
The Company’s Articles of Association require that any Director appointed by the other Directors of the Company shall retire at the next 
Annual General Meeting of the Company and also provide that each Director so retiring shall be eligible for re-appointment. Accordingly, 
Roger Bullen is retiring, and, being eligible, offers himself for election. The Company’s Articles of Association also require one third of Directors 
to retire by rotation. Accordingly Charles Clark and Edward Stacey are retiring and, being eligible, offer themselves for re-election. Biographical 
details of each Director can be found within the annual report for the year ending 30 April 2015. The Directors believe that the Board continues 
to maintain an appropriate balance of knowledge and skills and that the Non-Executive Directors are independent in character and judgement. 
Accordingly all the Directors recommend that all other Directors be re-elected; however, no Director makes any recommendation in respect of himself.
Resolution 7 – Authorisation to allot relevant securities (ordinary resolution)
Under Section 551 of the 2006 Act, the Directors of the Company require the authority of the shareholders of the Company to be able to issue 
shares in the capital of the Company. This resolution gives authority to the Directors of the Company to allot ordinary shares of £0.005 each in the 
capital of the Company. Resolution 7.1 allows the Directors to allot ordinary shares in respect of share options and warrants already in existence. 
Resolution 7.2 permits the Directors to further allot shares up to an aggregate nominal value of £18,850, approximately 5% of the Company’s issued 
share capital. Resolution 7.3 permits Directors to allot shares up to an aggregate nominal value of £37,700, representing approximately 10% of the 
Company’s issued share capital. Any further issues of share capital over and above these amounts would require the Directors to seek a fresh approval 
from shareholders.
Unless revoked, varied or extended, the Directors’ authorities granted pursuant to this resolution will expire on the earlier of the date which 
is 15 months after the resolution is passed and the conclusion of the next Annual General Meeting of the Company.
Resolution 8 – Disapplication of statutory pre-emption rights (special resolution)
This resolution gives the Directors of the Company the authority to allot equity securities on a non pre-emptive basis solely for the purposes 
of an allotment of shares in the Company pursuant to an authority given by Resolution 7. It will disapply the statutory pre-emption rights for such 
allotments until the earlier of the date which is 15 months after the resolution is passed and the conclusion of the next Annual General Meeting 
of the Company.
Explanatory notes to the Annual General Meeting notice Rosslyn Data Technologies plc Annual report and accounts 2015 54
Financial statements
Further notes
Annual financial statements
The Company’s annual financial statements, together with the Report of the Directors and of the auditor, are available to download from the Investors 
page of the Company’s website (www.rosslynanalytics.com). Shareholders for whom a current address is held will also receive a copy by post.
Right to ask questions at the Annual General Meeting (AGM)
Any member attending the meeting has the right to ask questions. The Company must cause to be answered any such question being related 
to the business being dealt with at the meeting but no such answer need be given if:
1) to do so would interfere unduly with the meeting or cause confidential information to be disclosed;
2) the answer has already been given on a website in the form of an answer to a question; or
3) it is not in the interests of the Company or the good order of the meeting to be answered.
Shareholders entitled to vote
Pursuant to Regulation 41 of the Uncertificated Securities Regulations 2001, the Company specifies that only holders of ordinary shares of £0.005 
registered in the Company’s register of members at 6.00pm on 26 October 2015 (or, if the Annual General Meeting is adjourned, 6.00pm two days 
prior to the time fixed for the adjourned Annual General Meeting) shall be entitled to attend and vote at the Annual General Meeting in respect 
of the number of shares registered in their names at that time. Any changes to the Company’s register of members after such time shall be 
disregarded in determining the rights of any person to attend or vote at the Annual General Meeting.
Appointment of proxies 
1.  You are entitled to appoint one or more proxies of your own choice to exercise all or any of your rights to attend, speak and vote at the meeting. 
A proxy need not be a member of the Company but must attend the meeting in order to represent you. If you appoint more than one proxy, 
each proxy must be appointed to exercise the rights attached to a different share or shares held by you. You can only appoint proxies using the 
procedures set out in these notes.
2.  If you wish to appoint a proxy other than the Chairman of the meeting, please insert their full name in the space provided and delete the words 
“the Chairman of the meeting or” . Please initial any such alteration. If you hold more than one share you may appoint more than one proxy provided 
each proxy holder is appointed to exercise rights attached to different shares. A separate form of proxy must be deposited for each proxy appointed. 
If the proxy is being appointed in relation to less than your full voting entitlement, please enter in the box next to the name of the proxy the 
number of shares in relation to which they are authorised to act as your proxy; if you sign and return the form and leave this box blank your 
proxy will be deemed to be authorised in respect of your full voting entitlement.
3.  To appoint more than one proxy, you may photocopy the form. Please state clearly on each proxy form the number of shares in relation to 
which the proxy is appointed. Please therefore indicate in the box next to the name of the proxy the number of shares in relation to which they 
are authorised to act as your proxy. Please also indicate by ticking the box provided if the proxy instruction is one of multiple instructions being 
given. All forms must be signed and should be returned together in the same envelope. A failure to specify the number of shares each proxy 
appointment relates to or specifying a number in excess of those held by the member may result in the proxy appointment being invalid. 
4.  Completion and return of the form of proxy will not preclude you from attending and voting at the meeting in person if you wish. If you do 
attend the meeting in person, your proxy appointments will automatically be terminated.
5.  If you want your proxy to vote in a certain way on the resolutions specified please indicate with an “X” in the appropriate boxes. If you fail to 
select any of the given options your proxy can vote as he or she chooses or can decide not to vote at all. Your proxy can also do this on any 
other business which may come before the meeting, including amendments to resolutions and any procedural business.
6.  The “withheld” option on this form of proxy is provided to enable you to instruct your proxy not to vote on any particular resolution. However, 
a vote withheld is not a vote in law and will not be counted in the calculation of the votes “for” or “against” a resolution.
7.  In the case of a corporation, this form of proxy must be executed under its common seal or signed on its behalf by its duly authorised officer, 
attorney or other person authorised to sign.
8.  In the case of joint holders, the signature of any one holder will be sufficient but the names of all the joint holders should be stated. The vote of the 
senior joint holder who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of other joint holders, and, for 
this purpose, seniority shall be determined by the order in which the names stand in the register of members in respect of the joint holding.
9.  To be valid the form of proxy must be completed and signed and received, together with any power of attorney or other authority under which 
it is signed, by post or (during normal business hours only) by hand to Capita Asset Services, PXS, 34 Beckenham Road, Beckenham BR3 4TU no 
later than 11.00am on 26 October 2015 (or, in the event that the meeting is adjourned, no later than 11.00am two days prior to the time of any 
adjourned meeting).
Explanatory notes to the Annual General Meeting notice 
continued Rosslyn Data Technologies plc Annual report and accounts 2015 55
Further Notes continued
Appointment of proxies continued
10.  If you wish to change your proxy instruction you should submit a new form of proxy. If you submit more than one valid form of proxy in respect 
of the same shares held by you, the form of proxy received last will take precedence, provided that any changes to proxy instructions received 
after the time and date specified in note 9 shall be disregarded.
11.  If you wish to revoke your proxy appointment you must send a notice to that effect to the Company’s registrars at the address set out in note 9 
by the time and date set out in note 9. Any revocation notice received after that time and date will be disregarded.
12.  You may not use any electronic address provided in your proxy form to communicate with the Company for any purposes other than those 
expressly stated.
13.  Total voting rights as at 16 September 2015 in the issued share capital of the Company consist of 75,445,814 ordinary shares of £0.005 each, 
carrying one vote each. Therefore, the total number of voting rights of the Company as at 16 September 2015 is 75,445,814.
14.  CREST members who wish to appoint a proxy or proxies through the CREST electronic proxy appointment service may do so for the Annual General 
Meeting of the Company to be held on 28 October 2015 and any adjournment(s) thereof by using the procedures described in the CREST Manual. 
CREST personal members or other CREST sponsored members, and those CREST members who have appointed a voting service provider, should 
refer to their CREST sponsors or voting service provider(s), who will be able to take the appropriate action on their behalf. 
  In order for a proxy appointment or instruction made by means of CREST to be valid, the appropriate CREST message (a “CREST Proxy 
Instruction”) must be properly authenticated in accordance with Euroclear UK & Ireland Limited’s specifications and must contain the 
information required for such instructions, as described in the CREST Manual. The message must be transmitted so as to be received by 
the Company’s agent, Capita Asset Services (CREST participant ID: RA10), no later than 48 hours before the time appointed for the meeting. 
For this purpose, the time of receipt will be taken to be the time (as determined by the time stamp applied to the message by the CREST 
Application Host) from which the Company’s agent is able to retrieve the message by enquiry to CREST in the manner prescribed by CREST . 
  CREST members and, where applicable, their CREST sponsor or voting service provider should note that Euroclear UK & Ireland Limited does 
not make available special procedures in CREST for any particular messages. Normal system timings and limitations will therefore apply in 
relation to the input of CREST Proxy Instructions. It is the responsibility of the CREST member concerned to take (or, if the CREST member is a 
CREST personal member or sponsored member or has appointed a voting service provider, to procure that his CREST sponsor or voting service 
provider takes) such action as shall be necessary to ensure that a message is transmitted by means of the CREST system by any particular time. 
In this connection, CREST members and, where applicable, their CREST sponsor or voting service provider are referred in particular to those 
sections of the CREST Manual concerning practical limitations of the CREST system and timings.
  The Company may treat as invalid a CREST Proxy Instruction in the circumstances set out in Regulation 35(5)(a) of the Uncertificated Securities 
Regulations 2001.
Corporate bodies
A corporate body may appoint an individual as its representative to exercise any of the powers the body may exercise at meetings of the 
Company’s shareholders. The representative should bring to the meeting evidence of his or her appointment, unless it has previously been 
given to the Company.
Action to be taken
Shareholders will find enclosed with these notes and the Notice of Annual General Meeting a form of proxy for the Annual General Meeting. 
Whether or not you intend to attend the Annual General Meeting, you are requested to complete, sign and return the form of proxy in accordance with the 
instructions printed on it. The completed form of proxy should be returned by post or by hand to Capita Asset Services, PXS, 34 Beckenham Road, 
Beckenham BR3 4TU so as to arrive no later than 11.00am on 26 October 2015. The completion and return of a form of proxy will not preclude you 
from attending the meeting and voting in person should you wish to do so.
Recommendation
The Directors consider that each of the proposed Resolutions set out in the Notice of Annual General Meeting is in the best interests of the Company 
and its shareholders as a whole. Accordingly, the Directors unanimously recommend that you vote in favour of the Resolutions, as they and those 
connected with them intend to do in respect of their own beneficial shareholdings. Rosslyn Data Technologies plc Annual report and accounts 2015 56
Financial statements
Share listing
The Company’s shares are listed on AIM.
Registrars
Capita Asset Services
34 Beckenham Road 
Beckenham BR3 4TU
Dividends
No dividends have been or will be recommended or declared 
for the year ended 30 April 2015.
AGM
The second AGM of the Company will be held on 
28 October 2015 at 11.00am at The Viceroy Room, 
The Grosvenor, 101 Buckingham Palace Road,  
London SW1W 0SJ. 
Registered in
England and Wales
Company number
08882249
EPIC/TIDM
RDT
ISIN
GB00BKKX5CP01
Registered office
25 Eccleston Place 
London SW1W 9NF
Company Secretary
F&L CoSec Limited
External auditor
Grant Thornton UK LLP
The Explorer Building 
Fleming Way 
Manor Royal 
Crawley RH10 9GT
Corporate brokers
Cenkos Securities plc
6.7.8 Tokenhouse Yard 
London EC2R 7AS
Solicitors
Rosenblatt Solicitors
9–13 St Andrew Street 
London EC4A 3AF
Shareholder information  
Design Portolio is committed to planting 
trees or every corporate communications 
project, in association with Trees or Cities. Rosslyn Data Technologies plc
25 Eccleston Place 
London SW1W 9NF
T: +44 (0) 203 285 8008 
E: investors@rosslyndatatechnologies.com