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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 |
TIDMGCAP 15 November 2021 Globe Capital Limited ("Globe Capital", "Company" or the "Group") Audited Annual Results for the year ended 31 December 2020 Globe Capital Limited (AQSE: GCAP) is pleased to announce its audited annual results for year ended 31 December 2020. Chairman's Statement I am pleased to report the final audited results for the year ended 31 December 2020 of the Company. Financial performance The turnover for the year was £10,000 (2019: £10,000) and the loss was £136,998 (2019: £182,240). The loss per share was 0.05 pence (2019: 0.07 pence). In the past year, the Directors have kept operational costs at a minimum, where possible. Review of operations The Group's investment strategy is to seek medium-to-long term investments in businesses that exhibit growth potential. The Group continues to be an active investor in situations where the Group can make a clear contribution to the growth and development of the investment. During the year the Company continued with its office in the Business Bay, Dubai and operation through the subsidiary Vogel Marketing Services FSZ in Ajman, United Arab Emirates which promotes companies from the UK and EU within the Gulf Region, however the results from this region have been frustrated by the continued delays due to Brexit and now Covid-19. The Company's full annual report, includes a going concern note in relation to the preparation of the financial statements, which confirms that whilst the Company's current liabilities exceeded its current assets as at 31 December 2020 by £84,308, continued support is currently being provided by one if its shareholders Toddbrook Investments Limited and the Company has also obtained further support by the Company's loan note provider. The Auditors have indicated a material uncertainty which may cast significant doubt about the Group's ability to continue as a going concern, but have not qualified their opinion. The Company is still well placed to take advantage of any opportunities as they arise through 2021 onwards and will continue to look for further fund raising opportunities and investments. The Company's shares trading on Aquis Stock Exchange have been suspended since 4 May 2021. David Barnett Chairman 15 November 2021 GLOBE CAPITAL LIMITED CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME For the year ended 31 DECEMBER 2020 Audited Audited Year ended Year ended 31 December 31 December 2020 2019 GBP GBP Revenue 10,000 10,000 Cost of services - (7,500) Gross Profit 10,000 2,500 Other Income 3,907 9,698 Administrative Expenses (144,905) (182,240) Finance costs (6,000) (12,000) (Loss) Before Income Tax (136,998) (182,240) Income Tax - - Profit / (Loss) for the period attributable (136,998) (182,240) to equity holders (Loss) per share (0.05p) (0.07p) Basic (pence) GLOBE CAPITAL LIMITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 DECEMBER 2020 Audited Audited Year ended Year ended 31 December 31 December 2020 2019 GBP GBP Non-current Assets Property, plant and equipment - 9,090 Goodwill - - Financial assets at fair value through profit 1,120 - or loss 1,120 9,090 Current assets Other receivables and Prepayments 7,343 19,955 Loans Receivable - 85,115 Cash and cash equivalents 17,264 5,023 24,607 110,093 Current Liabilities Other Payables 103,115 186,708 Amount due to a related company 5,800 4,400 108,915 191,108 Net Current (Liabilities)/Assets (84,308) (81,015) Total Assets (less)/Above Current Liabilities (83,188) (71,925) Non-current liabilities Other payables 118,000 - Amounts due to directors 24,165 16,430 142,165 16,430 Net (Liabilities) (225,353) (88,355) Shareholders' Equity Called Up Share Capital 664,994 664,994 Retained Earnings (733,349) (870,347) Total Equity (225,353) 88,355 GLOBE CAPITAL LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 DECEMBER 2020 Audited Audited Year ended Year ended 31 December 31 December 2020 2019 GBP GBP Profit/(Loss) before tax (136,998) (182,240) Adjustment: Depreciation 3,500 7,000 Impairment of goodwill - 1,150 Loan receivables written off 55,263 - Loss on disposal of an associate - 12,500 Loss on disposal of property, plant and 5,590 - equipment Other receivables written off 6,839 - Interest expenses 6,000 12,000 Interest income (3,907) (9,698) Operating loss before working capital changes (63,713) (159,288) Changes in working capital: Other receivables and prepayments 9,390 27,665 Other payables 28,407 16,143 Amount due to a related company 1,400 1,400 Amounts due to directors 7,735 2,203 Cash utilised in operations (16,781) (111,877) Cash flows from investing activities Increase in loans receivables 28,732 50,300 Interest received 290 9,698 Net cash from investing activities 29,022 59,998 Net increase/(decrease) in cash and cash 12,241 (51,879) equivalents Cash and cash equivalents at the beginning of 5,023 56,902 the year Cash and cash equivalents at end of year 17,264 5,023 Analysis of cash and cash equivalents Cash and bank balances 17,264 5,023 The directors of Globe Capital Limited accept responsibility for this announcement. For further information COMPANY: Globe Capital Limited Darren Edmonston +1-855-280-6793 CORPORATE ADVISER: Peterhouse Capital Limited Guy Miller / Mark Anwyl Tel: +44 (0) 207 469 0930 END
(END) Dow Jones Newswires
November 15, 2021 13:42 ET (18:42 GMT)
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