Globe Capital Limited Audited Annual Results for the year ended 31 Dec 2017
May 31 2018 - 9:51AM
UK Regulatory
TIDMGCAP
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 GBP88,741 (2016: GBP
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 GBP500,000 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 Year ended
31 December 31 December
2017 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 (88,741) (129,394)
to equity holders
Earnings / (Loss) per share (0.05p) (0.07p)
Basic & Diluted (pence)
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DECEMBER 2017
Audited Audited
Year ended Year ended
31 December 31 December
2017 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 - 11,532
Amounts due to directors 32,397 13,137
Amount due to a shareholder 13,585 35,000
45,982 59,669
Net Liabilities (142,053) (53,312)
Shareholders' Equity
Called Up Share Capital 638,428 638,428
Retained Earnings (691,740)
(780,481)
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 Year ended
31 December 31 December
2017 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 (163) (6,945)
receivables
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 5,576 10,266
the period
Cash and cash equivalents at end of period 57,531 5,576
END
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