Globe Capital Limited Interim Results to 30 June 2022
September 30 2022 - 11:36AM
UK Regulatory
TIDMGCAP
30th September 2022
Globe Capital Limited
("Globe Capital" or the "Company")
Interim Results for the six months period to 30 June 2022
Globe Capital Limited is pleased to announce its unaudited interim results for
the 6 months period to 30 June 2022. Operational costs for the period amounted
to £35k compared to £31k for the 6 months to June 2021.
The Company's investment strategy continues to be that 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.
The Company continues to receive support from its shareholders and loan note
holders to meet its ongoing costs.
Executive Director, Burns Singh Tennent-Bhohi commented,
"We are living through quite extraordinary times in global financial markets.
The world is gripped by a myriad of complex economic & geo-political problems
that shine light on our dependency on globalisation and how challenging
deglobalisation and realistic closed economic models are.
This palpable shift is being felt by the consumer and general public, resulting
in an acute disconnect between monetary and fiscal policy after more than
10-years of monetary policy dominating financial market capital inflows.
Whilst the Company still progresses final elements of our corporate
restructure, we do so knowing that the Company is well positioned to perform as
a publicly quoted investment issuer. The Board remain in active commercial
discussions for which the majority is inbound and should anything materialise
the Company will update the market accordingly."
Globe Capital Limited
Consolidated Profit and Loss and Other Comprehensive Income
Six months ended 30 June 2022
6 months ended 30 6 months ended 30 Year ended
June 2022 June 2021 31 December
2021
GBP '000 GBP '000 GBP '000
Revenue - - -
Cost of services - - -
Gross Profit - - -
Other Income - - -
Administrative Expenses (35) (31) (7)
Finance Costs (3) (6)
(3)
Loss Before Taxation (38) (34) (13)
Taxation - -
-
Other Comprehensive Loss - -
-
Loss for the period (38) (34) (13)
Earning / (Loss) per share
Basic & Diluted (pence) (0.01)p (0.01) (0.005)p
p
Globe Capital Limited
Consolidated Statement of financial position as at 30 June 2022
30 June 30 June 31 December
2022 2021 2021
GBP '000 GBP '000 GBP '000
Non-current assets
Property, plant and equipment - - -
Goodwill - - -
Financial assets at fair value through profit or 1 10 8
loss
Current assets
Other receivables and prepayments 12 8 9
Cash and cash equivalents 4 23 27
Other debtors and receivables - -
Total Assets 17 41 36
Current Liabilities
Other payables 45 145 72
Creditors: falling due after more than one year
Amounts due to directors 71 34 54
Amounts due to a related company 50 - 33
Other payables 127 121 124
Total Liabilities 293 300 211
Net Assets (276) (259) (238)
Shareholders' Equity
Share Capital 645 645 645
Reserves (921) (904) (883)
Total Equity (276) (259) (238)
Globe Capital Limited
Consolidated Statement of Cash Flows
Period ended 30 June 2022
6 months 6 months Year ended
ended ended 31 December
30 June 2022 30 June 2021 2021
GBP '000 GBP '000 GBP '000
Loss before income tax (34) (34) (13)
Adjustment:
Decrease/(Increase) in value of financial assets 1 - (7)
Interest expenses 3 3 6
Gain on financial assets - (9) -
Non cash transactions written off - - (30)
Operating loss before working capital changes (30) (40) (44)
Changes in working capital:
Other receivables and prepayments (3) (1) (1)
Other payables (24) 37 (28)
Amounts due to directors - 10 -
Amounts due to shareholders - - -
Net cash used in operating activities - 6 -
Cash flows from investing activities
Other loan repayments - - (18)
Increase in loans receivable - - 20
Increase in loans from related parties 17 - 32
Increase in directors' loan 17 - 48
Interest received - - -
Net cash from investing activities 34 - 83
Increase in cash and cash equivalents (23) 6 10
Cash and cash equivalents at the beginning of the 27 17
period 17
Cash and cash equivalents at end of period 4 23 27
Cash at Bank C/F 4 23 27
The financial information set out above has not been reviewed or audited by the
company's auditors.
Basic and diluted profit per share is calculated by dividing the loss for the
period of £38,000 (2021: loss £34,000) by the weighted average number of
ordinary shares of 255,919,752 (2021: 255,919,752).
The directors of Globe Capital Limited accept responsibility for this
announcement.
For further information
Globe Capital Limited
Darren Edmonston
Tel: +44 (0) 1279 635511
CORPORATE ADVISER AND CONTACT DETAILS:
Peterhouse Capital Limited
Guy Miller / Anwyl
Tel: +44 (0) 207 469 0930
END
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