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

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
+44 (0)20 3286 6388
http://www.globecapitalltd.com/

ISDX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott – Corporate Finance
James Dewhurst – Institutional Sales 
Telephone: +44 (0) 20 7448 9820
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   Year ended
                                                      31 December  31 December
                                                             2015         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   (129,184)    (149,111)
holders

Earnings / (Loss) per share                               (0.17p)      (0.20p)
Basic & Diluted (pence)




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


                                                          Audited      Audited

                                                       Year ended   Year ended
                                                      31 December  31 December
                                                             2015         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   Year ended
                                                    31 December  31 December
                                                           2015         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        59,411      199,148
period

Effect of foreign exchange rate                               -            -

Cash and cash equivalents at end of period               10,266       59,411