Globe Capital Limited - Audited Annual Results for the year ended 31 Dec. 2018
Announcement provided by
Globe Capital Limited · GCAP31/05/2019 17:15
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Audited Annual Results for the year ended
Chairman’s Statement
I am pleased to report the final audited results for the year ended
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
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
During the year the company has seen a slowing down of opportunities within
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.
Chairman
31
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)
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)
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
For further information
Chairman
+1-855-280-6793
CORPORATE ADVISER AND CONTACT DETAILS:
Brian Stockbridge
First Sentinel Corporate Finance
Suite 12A
Mayfair, London
W1K 1NA
Tel +44 (0) 207 183 7405
E-mail: Brian@first-sentinel.com
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