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Globe Capital Limited - Interim Results to 30 June 2021


Announcement provided by

Globe Capital Limited · GCAP

15/11/2021 18:43

Globe Capital Limited - Interim Results to 30 June 2021 PR Newswire

15 November

Globe Capital Limited

("Globe Capital" or the "Company")

Interim Results for the six months period to 30 June 2021

Chairman’s Statement

Globe Capital Limited is pleased to announce its unaudited interim results for the 6 months period to 30 June 2021. Operational costs for the period amounted to £31k compared to £61k for the 6 months to June 2020.

The Company’s investment strategy continues to be that 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.

The Company continues to receive support from its shareholders and loan note holders to meet its ongoing costs.

The Company is still well placed to take advantage of any opportunities as they arise through 2021 onwards and will continue to look for further fund raising opportunities and investments.

15 November 2021

David Barnett

Chairman

Globe Capital Limited

Consolidated Profit and Loss and Other Comprehensive Income

Six months ended 30 June 2021

 6 months ended           30 June 2021  6 months ended           30 June 2020  Year ended
31 December
2020
 GBP '000  GBP '000  GBP '000
Revenue -                                       10   10
Cost of services -                   -   -
Gross Profit -   10   10
Other Income - 2 4
Administrative Expenses (31) (61) (145)
Finance Costs (3)    (6)   (6)
Loss Before Taxation (34)               (55)    (137)
Taxation                   -                     -   -
Other Comprehensive Loss                   -                     -   -
Loss for the period (34)               (55)               (137)
Earning / (Loss) per share
Basic & Diluted (pence)             (0.01)p             (0.02)p (0.05)p

Globe Capital Limited

Consolidated Statement of financial position as at 30 June 2021

 30 June
2021
 30 June
2020
 31 December
2020
 GBP '000  GBP '000  GBP '000
Non-current assets
Property, plant and equipment -              - -                
Goodwill -                    -                      -  
Financial assets at fair value through profit or loss 10 - 1
Current assets
Other receivables and prepayments 8                 15 7
Cash and cash equivalents 23        14 17
Other debtors and receivables - 56 -
Total Assets 41  85 25
Current Liabilities
Other payables 145  66  108
Creditors: falling due after more than one year
Amounts due to directors 34 26 24
Amounts due to a shareholder - 18 -
Other payables 121 118 118
Total Liabilities 300 228 250
Net Assets (259) (143) (225)
Shareholders' Equity
Share Capital 645 645                 645
Reserves (904) (788) (870)
Total Equity (259)          (143)                   (225)

Globe Capital Limited

Consolidated Statement of Cash Flows

Period ended 30 June 2021

 6 months ended           30 June 2021  6 months ended           30 June 2020  Year ended
31 December
2020
 GBP '000  GBP '000  GBP '000
Loss before income tax (34) (55) (137)
Adjustment:
Depreciation - 9 3
Loan receivables written off - - 55
Loss on disposal of property, plant and equipment - - 6
Other receivables written off - - 7
Interest expenses 3 6 6
Gain on financial assets (9)
Other income -         (2) (4)
Operating loss before working capital changes (40) (42) (64)
Changes in working capital:
Other receivables and prepayments (1) 5 9
Other payables 37 (13) 30
Amounts due to directors 10 10 8
Amounts due to shareholders - 18 -
Net cash used in operating activities 6 (22) (17)
Cash flows from investing activities
Interest received - 2 -
Loans receivable - 29 29
Net cash from investing activities 31 29
Increase in cash and cash equivalents 6           9       12
Cash and cash equivalents at the beginning of the period 17                   5 5
Cash and cash equivalents at end of period 23 14 17
Cash at Bank C/F 23 14 17

The financial information set out above has not been reviewed or audited by the company's auditors.

Basic and diluted profit per share is calculated by dividing the loss for the period of £34,000 (2020: loss £55,000) by the weighted average number of ordinary shares of 255,919,752 (2020: 255,919,752).

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

For further information

COMPANY:

Globe Capital Limited

Darren Edmonston

+1-855-280-6793

CORPORATE ADVISER:

Peterhouse Capital Limited

Guy Miller / Mark Anwyl

Tel: +44 (0) 207 469 0930

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