Share Name Share Symbol Market Type Share ISIN Share Description
Globe Capital Limited NEX:GCAP NEX Ordinary Share KYG394391158
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.75 0.50 1.00 0.75 0.75 0.75 0.00 07:36:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Globe Capital Limited Audited Annual Results for the year ended 31 Dec. 2018

31/05/2019 4:15pm

UK Regulatory (RNS & others)


 
TIDMGCAP 
 
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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