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

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 £213,462 (2017: £88,741). 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 £500,000 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 to equity   (213,462)     (88,741)
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 receivables     (40,461)        (163)

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 the        57,531        5,576
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