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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gcap Media | LSE:GCAP | London | Ordinary Share | GB0001742393 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 224.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Globe Capital Limited
("Globe Capital" or the "Company")
Audited Annual Results for the year ended 31 December 2019
Globe Capital Limited (AQSE: GCAP) is pleased to announce its audited annual results for year ended 31 December 2019.
Chairman’s Statement
I am pleased to report the final audited results for the year ended 31 December 2019 of Globe Capital Limited (“the Company”).
Financial performance
The turnover for the year was £10,000 (2018: nil) and the loss was £182,240 (2018: £213,462). The loss per share was 0.07 pence (2018: 0.09 pence). In the past year, the Directors have kept operational costs at a minimum, where possible.
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 continued with its office in the Business Bay, Dubai and operation through the new 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 31st December 2019 by £87,205, 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 2020 onwards and will continue to look for further fund raising opportunities and investments.
The Company’s shares are traded on Aquis Stock Exchange.
David Barnett
Chairman
19 June 2020
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 DECEMBER 2019
Audited | Audited | ||
Year ended 31 December 2019 |
Year ended 31 December 2018 |
||
GBP | GBP | ||
Revenue | 10,000 | - | |
Cost of services | (7,500) | - | |
Gross Profit | 2,500 | - | |
Other Income | 9,698 | 6,367 | |
Administrative Expenses | (182,240) | (219,829) | |
Finance costs | (12,000) | - | |
(Loss) Before Income Tax | (182,240) | (213,462) | |
Income Tax | - | - | |
Profit / (Loss) for the period attributable to equity holders | (182,240) | (213,462) | |
(Loss) per share Basic (pence) |
(0.07p) | (0.09p) |
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DECEMBER 2019
Audited | Audited | ||
Year ended 31 December 2019 |
Year ended 31 December 2018 |
||
GBP | GBP | ||
Non-current Assets | |||
Property, plant and equipment | 9,090 | 16,090 | |
Goodwill | - | 1,150 | |
Investment in an associate | - | 12,500 | |
Loans receivable | - | 25,000 | |
9,090 | 54,740 | ||
Current assets | |||
Prepayments | 19,955 | 47,620 | |
Loans Receivable | 85,115 | 110,415 | |
Cash and cash equivalents | 5,023 | 56,902 | |
110,093 | 214,937 | ||
Current Liabilities | |||
Trade and other payables | 191,108 | 161,565 | |
191,108 | 161,565 | ||
Net Current (Liabilities)/Assets | (81,015) | 53,372 | |
Total Assets (less)/Above Current Liabilities | (71,925) | 108,112 | |
Non-current liabilities | |||
Amounts due to directors | 16,430 | 14,227 | |
16,430 | 14,227 | ||
Net (Liabilities)/Assets | (88,355) | 93,885 | |
Shareholders' Equity | |||
Called Up Share Capital | 664,994 | 664,994 | |
Retained Earnings | (733,349) | (551,109) | |
Total Equity | (88,355) | 93,885 |
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
For the year ended 31 DECEMBER 2019
Audited | Audited | |||
Year ended 31 December 2019 |
Year ended 31 December 2018 |
|||
GBP | GBP | |||
Profit/(Loss) before tax | (182,240) | (213,462) | ||
Adjustment: | ||||
Depreciation | 7,000 | 4,910 | ||
Impairment of goodwill | 1,150 | - | ||
Interest expenses | 12,000 | - | ||
Interest income | (9,698) | (6,367) | ||
Loss on disposal of an associate | 12,500 | - | ||
Operating profit/(loss) | (159,288) | (214,919) | ||
Cash flows from operating activities | ||||
Prepayments | 27,665 | (40,461) | ||
other payables | 17,543 | (12,846) | ||
Amounts due to directors | 2,203 | (18,170) | ||
Cash utilised in operations | (111,877) | (286,396) | ||
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | - | (21,000) | ||
Loans receivable | 50,300 | (135,415) | ||
Bank interest received | 9,698 | 6,367 | ||
Net cash (used in) from investing activities | 59,998 | (150,048) | ||
Cash flows from financing activities | ||||
Proceeds from issuance of shares | - | 449,400 | ||
Amount due to a shareholder | - | (13,585) | ||
Net cash from financing activities | - | 435,815 | ||
Net decrease in cash and cash equivalents | (51,879) | (629) | ||
Cash and cash equivalents at the beginning of the period | 56,902 | 57,531 | ||
Cash and cash equivalents at end of period | 5,023 | 56,902 |
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
72 Charlotte Street
London
W1T 4QQ
Tel +44 (0) 207 183 7405
E-mail: Brian@first-sentinel.com
Copyright e 19 PR Newswire
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