GLOBE CAPITAL LIMITED - Correction : Final Results for the year to 31 Dec 2015

31 May 2015
KYG394391158

Globe Capital Limited
("Globe Capital" or the "Company")

Audited Annual Results for the year ended 31 December 2015

Globe Capital Limited (ISDX: GCAP) is pleased to announce its audited annual results for year ended 31 December 2015.

Chairman’s Statement

I am pleased to report the final audited results for the year ended 31 December 2015 of Globe Capital Limited (“the Company”).

Financial performance

The turnover for the year was nil (2014: nil) and the loss was £129,184 (2014: £149,111). The loss per share was 0.17 pence (2014: 0.20 pence). In the past year, the Directors have kept operational costs at a minimum.

Review of operations

2015 was a transitional year for the Company. The Company has now realigned its investment focus towards the retail sector with a particular emphasis on menswear. The recent investment in Sterling Craig Ltd is the first stage in the Company’s future plans.

The Company’s shares are traded on the ISDX Growth Market.

Board changes

During the year under review, David Adamson Hirst left the Company. In January 2016, Wong Xinyan left the Company. I would like to thank them both all for their past services to the Company.

Future prospects

After the year end, in January 2016, the Company raised £100,500 in new equity. The Directors are presently reviewing a number of investment opportunities while speaking to new investors. I hope to be able to give further news of these developments in the near future.

David Barnett
Chairman

31 May 2016

The directors of Globe Capital Limited accept responsibility for this announcement.

For further information:

Globe Capital Limited
Christopher Neo, Company Secretary
[phone]
http://www.globecapitalltd.com/

ISDX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott – Corporate Finance
James Dewhurst – Institutional Sales 
Telephone: [phone]
http://www.ad-securities.com
49 Queen Victoria Street, London EC4N 4SA



GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 DECEMBER 2015

	Audited		Audited
	Year ended 31 December 2015		Year ended 31 December 2014
	GBP		GBP
Revenue	-		-
Other Income	2		9
Administrative Expenses	(129,186)		(149,120)
Profit / (Loss) Before Income Tax	(129,184)		(149,111)
Income Tax	-		-
Other Comprehensive Loss	-		-
Profit / (Loss) for the period attributable to equity holders	(129,184)		(149,111)
Earnings / (Loss) per share Basic & Diluted (pence)	(0.17p)		(0.20p)

GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DECEMBER 2015

	Audited		Audited
	Year ended 31 December 2015		Year ended 31 December 2014
	GBP		GBP
Non-current Assets
Property, plant and equipment	5,631		28,153
Investments	-		-
Total Non-current Assets	5,631		28,153
Current assets
Financial assets at fair value through profit or loss	-		-
Trade and other receivables	51		572
Cash and cash equivalents	10,266		59,411
Total Current Assets	10,317		59,983
Current Liabilities
Financial liabilities at fair value through profit or loss	-		-
Trade and other payables	65,211		8,215
Financial Liabilities - Borrowings	-		-
Total Current Liabilities	65,211		8,215
Net Assets	(49,263)		79,921
Shareholders' Equity
Called Up Share Capital	626,966		626,966
Share Premium	388,508		388,508
Foreign Currency Translation Reserve	-		-
Retained Earnings	(1,064,738)		(935,554)
Total Equity	(49,263)		79,921

GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF CASH FLOW
For the year ended 31 DECEMBER 2015

		Audited		Audited
		Year ended 31 December 2015		Year ended 31 December 2014
		GBP		GBP
Profit/(Loss) before tax		(129,184)		(149,111)
Adjustment:
Other income		(2)		(9)
Depreciation		22,522		22,523
Operating profit/(loss)		(106,664)		(126,597)
Cash flows from operating activities
(Increase)/decrease in trade and other receivables		521		1,053
Increase/(decrease) in trade and other payables		56,996		(14,202)
Cash utilised in operations		(49,147)		(139,746)
Cash flows from investing activities
Payment made to leasehold improvement		-		-
Bank interest received		2		9
Net cash from investing activities		2		9
Cash flows from financing activities
Issue of new shares		-		-
Unsecured loans		-		-
Proceed from loans from related parties		-		-
Interest paid		-		-
Net cash from financing activities		-		-
(Decrease)/increase in cash and cash equivalents		(49,145)		(139,737)
Cash and cash equivalents at the beginning of the period		59,411		199,148
Effect of foreign exchange rate		-		-
Cash and cash equivalents at end of period		10,266		59,411

Copyright y 31 PR Newswire