Globe Capital Limited
("Globe Capital" or the
"Company")
Audited Annual
Results for the year ended 31 December
2017
Globe Capital Limited (NEX: GCAP) is pleased to announce its
audited annual results for year ended 31
December 2017.
Chairman’s Statement
I am pleased to report the final audited results for the year
ended 31 December 2017 of Globe
Capital Limited (“the Company”).
Financial performance
The turnover for the year was nil (2016: nil) and the loss was
£88,741 (2016: £124,394). The loss per share was 0.05 pence (2016: 0.07
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 intends 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’s shares are traded on NEX EXCHANGE Growth
Market.
Board changes
During the year under review, Gary Willinge left the Company. I
would like to thank him all for his past service to the
Company.
I am pleased to announce Darren
Edmonston joined the board and hope his experience and
knowledge continues to prove to be of great value to the
business.
Future prospects
At the start of the 2018, the Company raised £500,000 in new
equity and has opened an office in the United Arab Emirates, with the company setting
up a marketing consultancy business under the name Vogel Marketing
Consultants FZE and to further encourage the growth within Sterling
Craig Limited.
The Directors are see opportunities to promote UK and EU
companies within the gulf region.
I hope to be able to give further news of these developments in
the near future.
David Barnett
Chairman
31 May 2018
The directors of Globe Capital Limited accept responsibility for
this announcement.
For further information:
Globe Capital Limited
Christopher Neo, Company Secretary
+44 (0)20 3286 6388
http://www.globecapitalltd.com/
NEX EXCHANGE CORPORATE ADVISER:
Alexander David Securities Limited
David Scott – Corporate Finance
James Dewhurst – Institutional
Sales
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
49 Queen Victoria Street,
London EC4N 4SA
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF PROFIT AND
LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 DECEMBER
2017
|
Audited |
|
Audited |
|
Year
ended
31 December
2017 |
|
Year
ended
31 December
2016 |
|
GBP |
|
GBP |
Revenue |
- |
|
- |
|
|
|
|
Other Income |
1 |
|
- |
|
|
|
|
Administrative
Expenses |
(88,742) |
|
(124,394) |
|
|
|
|
Profit / (Loss) Before
Income Tax |
(88,741) |
|
(124,394) |
|
|
|
|
Income Tax |
- |
|
- |
|
|
|
|
Profit / (Loss) for
the period attributable to equity holders |
(88,741) |
|
(129,394) |
|
|
|
|
Earnings / (Loss) per
share
Basic & Diluted (pence) |
(0.05p) |
|
(0.07p) |
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL
POSITION
As at 31 DECEMBER 2017
|
Audited |
|
Audited |
Year
ended
31 December
2017 |
|
Year
ended
31 December
2016 |
|
GBP |
|
GBP |
|
|
|
|
Non-current
Assets |
|
|
|
Property, plant and
equipment |
- |
|
- |
Investment in a
subsidiary |
1,150 |
|
1,150 |
Investment in an
associate |
12,500 |
|
12,500 |
Total Non-current
Assets |
13,650 |
|
13,650 |
|
|
|
|
Current assets |
|
|
|
Trade and other
receivables |
7,159 |
|
6,996 |
Cash and cash
equivalents |
57,531 |
|
5,576 |
Total Current
Assets |
64,690 |
|
12,572 |
|
|
|
|
Current
Liabilities |
|
|
|
Trade and other
payables |
174,411 |
|
19,771 |
Amount due to a
shareholder |
- |
|
94 |
|
174,411 |
|
19,865 |
|
|
|
|
Net Current
Liabilities |
(109,721) |
|
(7,293) |
Net Assets |
(96,071) |
|
6,357 |
|
|
|
|
Non-current
liabilities |
|
|
|
Accruals
Amounts due to directors
Amount due to a shareholder |
-
32,397
13,585 |
|
11,532
13,137
35,000 |
|
45,982 |
|
59,669 |
|
|
|
|
Net Liabilities |
(142,053) |
|
(53,312) |
|
|
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
Called Up Share
Capital |
638,428 |
|
638,428 |
Retained Earnings |
(780,481) |
|
(691,740) |
Total Equity |
(142,053) |
|
(53,312) |
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF CASH
FLOW
For the year ended 31 DECEMBER
2017
|
|
Audited |
|
Audited |
|
|
Year
ended
31 December
2017 |
|
Year
ended
31 December
2016 |
|
|
GBP |
|
GBP |
|
|
|
|
|
Profit/(Loss) before
tax |
|
(88,741) |
|
(124,394) |
Adjustment: |
|
|
|
|
Other income |
|
1 |
|
- |
Depreciation |
|
- |
|
5,631 |
Operating
profit/(loss) |
|
(88,742) |
|
(118,763) |
|
|
|
|
|
Cash flows from
operating activities |
|
|
|
|
(Increase)/decrease in
trade and other receivables |
|
(163) |
|
(6,945) |
Increase/(decrease) in
trade and other payables |
|
(143,108) |
|
(33,908) |
Amounts due to
directors |
|
19,260 |
|
13,137 |
Cash utilised in
operations |
|
(73,463) |
|
(146,479) |
|
|
|
|
|
Cash flows from
investing activities |
|
|
|
|
Acquisition of a
subsidiary |
|
- |
|
(1,150) |
Acquisition of an
associate |
|
- |
|
(12,500) |
Bank interest
received |
|
1 |
|
- |
|
|
|
|
|
Net cash (used in)
from investing activities |
|
1 |
|
(13,650) |
|
|
|
|
|
Cash flows from
financing activities |
|
|
|
|
Proceeds from issuance
of shares |
|
- |
|
120,345 |
Amount due to a
shareholder |
|
(21,509) |
|
35,094 |
|
|
|
|
|
Net cash from
financing activities |
|
(21,509) |
|
155,439 |
|
|
|
|
|
Net decrease in cash
and cash equivalents |
|
51,955 |
|
(4,690) |
Cash and cash
equivalents at the beginning of the period |
|
5,576 |
|
10,266 |
|
|
|
|
|
Cash and cash
equivalents at end of period |
|
57,531 |
|
5,576 |