Globe Capital
Limited
("Globe Capital" or the "Company")
Audited Annual
Results for the year ended 31 December
2018
Globe Capital Limited (NEX: GCAP) is pleased to announce its
audited annual results for year ended 31
December 2018.
Chairman’s Statement
I am pleased to report the final audited results for the year
ended 31 December 2018 of Globe
Capital Limited (“the Company”).
Financial performance
The turnover for the year was nil (2017: nil) and the loss was
£213,462 (2017: £88,741). The loss per share was 0.09 pence (2017: 0.05
pence). In the past year, the Directors have kept
operational costs at a minimum.
Review of operations
The Company’s investment strategy is to seek medium-to-long term
investments in businesses that exhibit growth potential. The
Company continues to be an active investor in situations where the
Company can make a clear contribution to the growth and development
of the investment.
During the year the company raised an additional £500,000 in
equity before costs, which has enabled the commencement of setting
up a office in the Business Bay, Dubai and the incorporation of a new
subsidiary Vogel Marketing Services FSZ in Ajman, United Arab Emirates which promotes
companies form the UK and EU within the Gulf Region.
During the year the company has seen a slowing down of
opportunities within Dubai due to
the changes in the countries banking regulations, which has been
further impacted by the delay of BREXIT, affecting both the UK and
the EU.
The company is still well placed to take advantage of any
opportunities as they are arise through 2019 onwards.
The Company’s shares are traded on NEX EXCHANGE Growth
Market.
David
Barnett
Chairman
31 May 2019
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER
COMPREHENSIVE INCOME
For the year ended 31 DECEMBER
2018
|
Audited |
|
Audited |
|
Year
ended
31 December
2018 |
|
Year
ended
31 December
2017 |
|
GBP |
|
GBP |
| Revenue |
- |
|
- |
|
|
|
|
| Other Income |
6,367 |
|
1 |
|
|
|
|
| Administrative
Expenses |
(219,829) |
|
(88,742) |
|
|
|
|
| Profit / (Loss) Before
Income Tax |
(213,462) |
|
(88,741) |
|
|
|
|
| Income Tax |
- |
|
- |
|
|
|
|
| Profit / (Loss) for
the period attributable to equity holders |
(213,462) |
|
(88,741) |
|
|
|
|
Earnings / (Loss) per
share
Basic & Diluted (pence) |
(0.09p) |
|
(0.05p) |
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DECEMBER 2018
|
Audited |
|
Audited |
Year
ended
31 December
2018 |
|
Year
ended
31 December
2017 |
|
GBP |
|
GBP |
|
|
|
|
| Non-current
Assets |
|
|
|
| Property, plant and
equipment |
16,090 |
|
- |
| Goodwill |
1,150 |
|
1,150 |
| Investment in an
associate |
12,500 |
|
12,500 |
| Loans receivable |
25,000 |
|
- |
| Total Non-current
Assets |
54,740 |
|
13,650 |
|
|
|
|
| Current assets |
|
|
|
| Prepayments |
47,620 |
|
7,159 |
| Loans Receivable |
110,415 |
|
- |
| Cash and cash
equivalents |
56,902 |
|
57,531 |
| Total Current
Assets |
214,937 |
|
64,690 |
|
|
|
|
| Current
Liabilities |
|
|
|
| Trade and other
payables |
161,565 |
|
174,411 |
|
161,565 |
|
174,411 |
|
|
|
|
| Net Current
Assets/(Liabilities) |
53,372 |
|
(109,721) |
| Total Assets
Above/(less) Current Liabilities |
108,112 |
|
(96,071) |
|
|
|
|
| Non-current
liabilities |
|
|
|
Amounts
due to directors
Amount due to a shareholder |
14,227
- |
|
32,397
13,585 |
|
14,227 |
|
45,982 |
|
|
|
|
| Net
Assets/(Liabilities) |
93,885 |
|
(142,053) |
|
|
|
|
|
|
|
|
| Shareholders'
Equity |
|
|
|
| Called Up Share
Capital |
664,994 |
|
638,428 |
| Retained Earnings |
(551,109) |
|
(780,481) |
| Total Equity |
93,885 |
|
(142,053) |
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF CASH FLOW
For the year ended 31 DECEMBER
2018
|
|
Audited |
|
Audited |
|
|
Year
ended
31 December
2018 |
|
Year
ended
31 December
2017 |
|
|
GBP |
|
GBP |
|
|
|
|
|
| Profit/(Loss) before
tax |
|
(213,462) |
|
(88,741) |
| Adjustment: |
|
|
|
|
| Other income |
|
4,910 |
|
- |
| Depreciation |
|
(6,367) |
|
(1) |
| Operating
profit/(loss) |
|
(214,919) |
|
(88,742) |
|
|
|
|
|
| Cash flows from
operating activities |
|
|
|
|
| (Increase)/decrease in
trade and other receivables |
|
(40,461) |
|
(163) |
| Increase/(decrease) in
trade and other payables |
|
(12,846) |
|
143,108 |
| Amounts due to
directors |
|
(18,170) |
|
19,260 |
| Cash utilised in
operations |
|
(286,396) |
|
73,463 |
|
|
|
|
|
| Cash flows from
investing activities |
|
|
|
|
| Purchase of property,
plant and equipment |
|
(21,000) |
|
- |
| Loans receivable |
|
(135,415) |
|
- |
| Bank interest
received |
|
6,367 |
|
1 |
| Net cash (used in)
from investing activities |
|
(150,048) |
|
1 |
|
|
|
|
|
| Cash flows from
financing activities |
|
|
|
|
| Proceeds from issuance
of shares |
|
449,400 |
|
- |
| Amount due to a
shareholder |
|
(13,585) |
|
(21,509) |
| Net cash from
financing activities |
|
435,815 |
|
(21,509) |
|
|
|
|
|
| Net decrease in cash
and cash equivalents |
|
(629) |
|
51,955 |
| Cash and cash
equivalents at the beginning of the period |
|
57,531 |
|
5,576 |
|
|
|
|
|
| Cash and cash
equivalents at end of period |
|
56,902 |
|
57,531 |
The directors of Globe Capital Limited
accept responsibility for this announcement.
For further information
Globe Capital Limited
David Barnett
Chairman
+1-855-280-6793
CORPORATE ADVISER AND CONTACT DETAILS:
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First Sentinel Corporate Finance
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