Spun Candy

Investor
Presentation
Welcome to Spun Candy
Agenda

Introduction 3
Our Unfolding Journey 10
The Spun Candy Team 13
The Opportunity 16
Financials 19
Appendix 23

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 Introduction

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 Introduction
Executive Summary

Where our imagination

inspires yours
Spun Candy is a quality, British, artisan candymaker specialising
in hand-crafted candy. Since 2013 our premium confectionery,
live candy theatre and masterclasses are enjoyed within the
UK, the GCC and United States.
We are raising upwards of £500,000 to invest in our retail and
corporate sales through international franchising and JVs.
We have identified key markets for scaling Spun Candy including
Asia with further expansion into the GCC and United States. A
proven franchise business model developed over the last four
years, coupled with the correct investment into infrastructure
and marketing, will project us to over 50 store openings in the
next five years.
Spun Candy is strategically positioned to successfully compete
in the confectionery market with its unique, attractive products
and world-renowned masterclass experiences.

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6
 Introduction
Mission Statement

Spun Candy is a British artisan maker of high quality, hand-crafted candy. Since its 2013 launch
in central London, Spun Candy has spread far beyond its UK roots. Its unique candy creations,
premium confectionery, live candy theatre and exclusive candy masterclasses are being enjoyed
within the United Kingdom, United States, Abu Dhabi, Bahrain, Dubai and Egypt.

We make candy that captivates and gratifies the senses, while creating
experiences that stimulate the imagination.
We do this by:
• pushing candy to its creative limits
• applying innovative candy making and confectionery techniques
• sourcing the finest ingredients and natural flavours
• sharing the culinary and artistic experience of candy making with customers
• giving customers the unique opportunity to create their own candy
• combining candy with entertainment

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 Introduction
What Differentiates Us

A multi-sensory delight from first sight

to last bite

What makes Spun Candy so unique …

Live candy making Spun Candy offer Spun Candy Spun Candy has a All products are only
and masterclasses theatre led retail, is the only UK very experienced, ever handmade with
differentiates combined with a confectionery passionate and the highest quality,
Spun Candy diverse premium with the ability to diverse management natural ingredients
from all potential product range that incorporate any team that includes and are certified
competition. appeals to all ages. bespoke design some of the finest vegetarian.
into its handmade candy makers in the
products and world.
packaging.
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 Introduction
The Offer

• Spun Candy Limited (the “Company”) is raising £500,000 (with an upper limit of £1,000,000)
 
• Fully diluted pre-money valuation is £4,500,000 (“pre-money value”)
 
• Spun Candy had 315,790 ordinary shares outstanding and 15,000 warrants

Deployment of new capital as follows:

Use of Funds Budget Description Benefits

Sales & £50,000 Investment in additional UK sales Increase UK revenue and development of marketing strategy to roll out
Marketing staff and digital marketing. to international partners.
Pop-Up Store £150,000 Design, development and placement Increase brand visibility, test market in key locations (future development
Development of four pop-up stores in high footfall of permanent stores), and increase retail revenues.
locations.
Product £125,000 Diversify current product offerings, Further market penetration with ability to access a larger proportion of
Development develop efficient packaging solutions the confectionery market. Decrease cost of goods through innovative
and add manufacture machinery. and cost efficient packaging. Decrease cost of labour. Introduce new
revenue streams through single wrapped candies.

Franchising £175,000 Analyze regions to attract quality Additional store revenues through cluster openings and brand exposure
& JV Global partners for the brand. Invest in within key hubs including the GCC, Middle East, South East Asia and
Expansion support infrastructure. the US.

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 Introduction
£10.90
Confectionery Market Place
Godiva Chocolate

Hotel Chocolate £6.99

Spun Candy is a competitively priced option for quality
seeking consumers within the confectionery market.
Jelly Belly £5.60
The Confectionery market is fast growing, driven by
increased urbanization and rising disposable income.
Spun Candy £4.75
In 2015 sugar confectionery grew to $65 Billion with
an expected Compound Annual Growth Rate (CAGR) Joe & Seph’s Popcorn £4.60
of 3.7% year on year for the next five years.
Dylan’s Candy Bar £3.50

Thorntons £2.74

Sugar Sin £2.34

Proper Corn £2.10

Green & Black’s £2.00

Lindt £1.87

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*Average price per 100g in UK
 Introduction
Customer Demographics
Retail Customers Corporate Clients Masterclass Customers
• 70% females aged • 7
 0% females aged • 5
 0/50 male and female aged 7 to
20 to 45 years young 20 to 45 years young 80 years young
• High disposable income • F
 ashion, PR firms, creative • 5
 0% of bookings are children’s
agencies, automobile, cosmetics, activities and birthday parties
• ABC1*
brand consultancies, architecture,
• H
 igh disposable income
financial and real estate
• Innovative brands using unique
marketing campaigns

*A consumer from one of the three higher social and economic groups

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6
 Our
Unfolding
Journey

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Our Unfolding Journey

Spun Candy opened its first retail store in Covent Garden in September 2013.
Subsequent locations in London include Hamleys and Spitalfields.
Today Spun Candy is represented in the Middle East and the U.S., with 20 retail locations in 6 countries.

Spun Candy has been a popular choice for media and production companies.

Spun Candy Spitalfield’s has been featured in, amoung others, the BBC series “The Apprentice”, Channel
4’s series “Made in Chelsea”, the Discovery Channel’s “How Do They Do It”, the Financial Times
“Homemade by You” and ITV’s “This Morning”.

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 Our Unfolding Journey
The Spun Candy Timeline

OUR September
JOURNEY March WOW!
2014
2014 July Rugby World March
Launch 2014 Cup range
2015
Lulu Guinness launches
October Candy range Pop-up candy store 20 Retail
Covent Garden
2013 and product launch October Store is upsized Q1 2018 Locations
in Selfridges, Oxford
2014 to a new flagship Since 2013
Inside Soap Street Spitalfields Bahrain store
awards Hamleys Regent Masterclass opening
Street store opens London store

September
2013 July
December 2014 Q2 2018
October December
Spun opens 2013
Covent Garden Candy Crush 2014 2014 New stores TBA
store Pop-up range launches (not yet public)
Christmas Dubai store Abu Dhabi
Candy Kitchen opens in store opens in March
Candylicious Candylicious
in Virgin Atlantic
Dubai Mall Yas Mall’ 2017
Clubhouse
at London Egypt and Miami
Heathrow stores open

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 The
Spun Candy
Team

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 Our Team
Executive Team
James Ellender
Founder Member of the Board of Directors
In 2013, James developed and launched Spun Candy.
James’ vision for Spun enabled him to define the
brand, position it within the confectionery market,
create innovative revenue opportunities, develop strong
collaborations with other premium brands and secure
long-term relationships with partners to grow the business
internationally.
James is highly experienced in business, as a founder, creator,
operator and training consultant, and has an extensive global
network in licensing, franchising, food and beverage, premium
retailers, marketing agencies and premium lifestyle brands.
With an eye for profitability, revenue generation, opportunity and
scalability of a business idea, James will continue to drive Spun
Candy’s business growth through international partnerships and
business development opportunities.
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Philip Haretos
Chairman of the Board of Directors
Philip has wide-ranging experience as a director, and has
held executive and non-executive board appointments
for more than 20 years. His primary focus has been on
real estate and equity portfolio management, which he
has performed for a number of companies across the
globe. He joined the Spun Candy team in October 2015.
Philip also has extensive experience in executive oversight of
corporate operations and legal procedures involving civil, tax and
administrative law with cross-border jurisdictional structures. He
has conducted speaking engagements on leadership, ethics,
human behavior and organizational management for over 15
years. Philip’s breadth of experience enables him to bring a
wealth of knowledge and expertise to secure Spun Candy’s
continued growth and success.
 Our Team
Management Team
Conor Stein
Head of Operations
Conor has been Spun Candy’s general
manager in London since 2014. A natural
leader and formerly a chef for a central
London hotel, Conor now manages a
team of 15 and is in charge of recruiting
and training new UK operational staff,
running masterclasses, and managing all
production schedules of confectionery
and logistics.
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Ikky Gill
Head of Business Development &
Marketing
Ikky joined Spun Candy in May 2015 and
has been vital in the businesses growth
and sales strategy. Ikky’s experience in
many areas including corporate sales,
e-commerce and account management
was critical in ensuring Spun continue
to grow exponentially. Ikky continues
to provide a crucial role in generating,
converting and sustaining Spun Candy’s
corporate clients.
Asrar Ahmed
Head of Accounting
Asrar is member of the Institute of
Financial Accountants and joined Spun
Candy in 2017 to oversee and develop
the finance function. Asrar has over 25
years’ experience in accounting and
financial services working in a variety of
roles including recruitment, software,
management, retail and accountancy
practise industries. He is also a qualified
management accountant from the Institute
of Cost & Management Accountants of
Pakistan (ICMAP) and holder of Advanced
Diploma in Management Accounting from
the Chartered Institute of Management
Accountants (CIMA, UK).
 The
Opportunity

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 The Opportunity
Actual and Projected Growth
25 £4.0

£3.5

20
£3.0
Number of stores

£2.5

Revenue, £Millions
15

£2.0

10
£1.5

£1.0
5

£0.5

0 £0.0
2013 2014 2015 2016 2017 2018 2019
(projected) (projected) (projected)

Left Axis: UK Stores International Stores Combined Stores

Right Axis: UK (Gross income) International Stores (Gross income)

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 The Opportunity
Exit Strategy

Spun Candy is focused on international expansion with a target to grow from 8 to 50

corporate JV and franchise stores in the next four years.

Through the increased store network, it is projected that Spun Candy will have a strong
EBITDA, allowing for dividend distribution to shareholders and become extremely
attractive for a potential Private Equity buyout.

Spun Candy may also elect to offer a share buyback program to willing shareholders
in years 5 to 7.

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 Financials

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 Financials
Historic and Forecast P&L
As At: May-15 May-16 May-17 May-18 May-19
£s £s £s £s £s
Sales
Retail & Corporate Sales 238,382 381,905 355,182 590,000 681,450
Franchise Fees 383,964 488,338 233,557 750,000 1,050,000
Total Sales 622,346 870,243 588,739 1,340,000 1,731,450

Cost of Sales
Retail & Production Costs (64,614) (83,765) (76,505) (99,457) (114,873)
Franchise Costs (241,136) (221,155) (27,399) (255,000) (318,750)
Total Cost of Sales (305,750) (304,920) (103,904) (354,457) (433,623)

Gross Profit 316,596 565,323 484,835 985,543

1,297,827
Gross Profit % 51% 65% 82% 74% 75%

Overhead Costs
Salaries (305,919) (371,323) (381,745) (447,000) (447,000)
Other Costs (258,360) (113,682) (126,944) (160,145) (160,145)
Controllable Costs (564,279) (485,005) (508,689) (607,145) (607,145)

UK Fixed Costs - (124,531) (102,345) (106,879) (106,879)

Total UK Fixed Costs - (124,531) (102,345) (106,879) (106,879)
Total Overhead Costs (564,279) (609,536) (611,034) (714,024) (714,024)
EBITDA (247,683) (44,213) (126,199) 271,519 583,803

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 Financials
Historic and Forecast Balance Sheet
Period Ending: May-15 May-16 May-17 May-18 May-19
£s £s £s £s £s
Total Fixed Assets 394,190 261,085 203,728 144,728 252,728
Stock 59,105 74,386 100,961 103,990 214,389
Trade Debtors 44,298 24,282 54,030 83,541 208,603
Other Debtors 168,430 103,542 26,224 25,000 25,000
Prepayments 5,353 3,149 2,146 2,200 2,200
Cash at Bank and In Hand 19,625 115,654 8,278 400,000 546,906
Total Current Assets 296,811 321,013 191,639 614,731 997,098

Trade Creditors (29,084) (92,870) (86,525) (33,667) (33,667)

Other Creditors (1,758) (40,913) (40,875) (17,671) (16,235)
PAYE (11,274) (2,040) (2,524) (4,711) (4,711)
Accruals (143,841) (112,461) (59,457) (18,900)
(18,900)
Reverse Rental Premia - - -
VAT - 7,238 (16,095) (8,500) (8,500)
Total Current Liabilities (185,957) (241,046) (205,476) (83,449) (82,013)
Net Current Assets/(Liabilities) 110,854 79,967 (13,837) 531,282 915,085

Loan 1 (124,000) (161,400) (176,400) 0 0

Total Credit Instruments (124,000) (161,400) (176,400) 0 0
Net Assets 381,044 179,652 13,491 676,010 1,167,813

Share Capital 852,256 852,256 886,037 1,336,037 1,336,037

Retained Earnings (471,212) (672,604) (872,546) (660,027) (168,224)
Total Shareholder Funds 381,044 179,652 13,491 676,010 1,167,813

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 Financials
Cash Flow Statement Forecast
Period Ending: May-18 May-19
£s £s
Cash Flows from Operating Activities
Profit Before Tax 212,519 491,803
Adjustments for:
Depreciation 59,000 92,000
Rent Adjustment (1,436) (1,436)
Interest Expense - -
Cash from Operations before Working Capital Changes 270,083 582,367
Increase in Trade and other Receivables (28,341) (125,062)
Increase in Inventories (3,029) (110,399)
Decrease in Payables (120,591) -
Net Cash from Operating Activities 118,122 346,906

Cash flows from Investing Activities

Fixed Assets Aquired (200,000)
Net Cash from Investing Activities (200,000)

Cash Flows from Financing Activities

Proceeds from Issue of Share Capital 450,000 -
Payment of Long-term Borrowings (176,400) -
Net Cash from Financing Activities 273,600 -

Net Increase in Cash and Cash Equivalents 391,722 146,906

Cash and Cash Equivalents at Beginning of Period 8,278 400,000
Cash and Cash Equivalents at End of Period 400,000 546,906

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 Appendix

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 Appendix
Stores
Spitalfields Hamleys Dubai Yas Mall City Miami Bahrain Third Online
London, London, Mall Abu Stars, Avenue, Party
UK UK Dubai, Dhabi, Cairo, Miami, Retailers
UAE UAE Egypt US

Product Sales 3 3 3 3 3 3 3 3 3
Experience
candy making 3 3 3 3 3 3 3 3
demos

Masterclasses 3 3 3

Parties 3 3 3 3 3 3
Corporate
Events 3 3 3

Bespoke Candy 3 3 3 3 3 3 3

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 Appendix
Revenue Streams

Retail Corporate Bespoke Wholesale

Retail - permanent stores, Corporate Bespoke - Wholesale - third party
kiosks and pop-up confectionery celebration candy, retailers, e.g. Selfridges
concessions e.g. wedding candy

E-Commerce Experiential Licensed International Partners

E-Commerce website Experiential - Licensed candy, International partners-
masterclasses, parties e.g. Candy Crush and franchising and joint
and corporate events Rugby World Cup ventures

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 Appendix
Product

Product Confectionery Product

Ranges Collections
• Hard rock candy • Love mix
• Lollipops and candy roses • Birthday mix
• Confectionery e.g. fudge, • Fruit mix
popcorn, honeycomb, • Sour mix
nut brittle and jellies
• Seasonal mixes such
as Christmas and Halloween
• Regional mixes such
as London mix and Dubai mix
Qualities
• Natural fruit flavours
• Vegetarian, vegan and gluten free
• Giftable
• Portable and can be dispatched
globally

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 Appendix
Corporate Clients
Spun Candy is the number one choice for a vast range of businesses. Our clients include Chanel, Bloomberg,
American Express, ASOS, MAC, L’Oreal, Lulu Guinness, Yves St Laurent, Radley’s, Vera Wang, Ted Baker, Charlotte
Tilbury, Virgin Atlantic, Puma, Harley Davidson, Skoda, VISA, Candy Crush, Rugby World Cup, John Lewis, Selfridges
and Hamley’s.

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 Appendix
Stockists

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 “
Thank you so much for the candy,
the guests loved it. They were a great
addition to the tables and lovely for
everyone to have a memento to take
away
”

d y Gi ves
un C a n
Sp

“ The event was a huge success and raised

£250,000 which we are delighted with.
Thank you for helping us make this event

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extra special
Kate Ormston, ”
Great Ormond Street Hospital
 Contact Us
London Spitalfields
The home of our famous Masterclasses
have welcomed hundreds of happy candy
makers since its launch in early 2015.

London Spitalfields,
58 Wentworth Street,
London, E1 7AL
T. 020 7377 2419
E. enquiries@spun-candy.com

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 Disclaimer
The contents of this confidential document and the information contained within it have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. An investment in
the securities referred to involves a high degree of risk and you must be able to withstand the total loss of your investment.

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 Help shape Spun’s
future; the sweetest
investment you could
ever make!

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