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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Globe Capital Limited | AQSE:GCAP | Aquis Stock Exchange | Ordinary Share | KYG394391158 | Ordinary shares |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.275 | 0.10 | 0.30 | 0.275 | 0.20 | 0.275 | 0.00 | 15:29:02 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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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 GBP213,462 (2017:
GBP88,741). 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 GBP500,000 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 Year ended
31 December 31 December
2018 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 (213,462) (88,741)
to equity holders
Earnings / (Loss) per share (0.09p) (0.05p)
Basic & Diluted (pence)
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DECEMBER 2018
Audited Audited
Year ended Year ended
31 December 31 December
2018 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 14,227 32,397
Amount due to a shareholder - 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 Year ended
31 December 31 December
2018 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 (40,461) (163)
receivables
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 57,531 5,576
the period
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:
Brian Stockbridge
First Sentinel Corporate Finance
Suite 12A
55 Park Lane
Mayfair, London
W1K 1NA
Tel +44 (0) 207 183 7405
E-mail: Brian@first-sentinel.com
END
(END) Dow Jones Newswires
May 31, 2019 11:15 ET (15:15 GMT)
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