Globe Capital Limited - Audited Annual Results for the year ended 31 Dec 2017
Announcement provided by
Globe Capital Limited · GCAP31/05/2018 15:51
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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 (2016: nil) and the loss was £88,741 (2016: £124,394). 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 intends 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’s shares are traded on NEX EXCHANGE Growth Market.
Board changes
During the year under review, Gary Willinge left the Company. I would like to thank him all for his past service to the Company.
I am pleased to announce
Future prospects
At the start of the 2018, the Company raised £500,000 in new equity and has opened an office in the
The Directors are see opportunities to promote
I hope to be able to give further news of these developments in the near future.
Chairman
31
The directors of
For further information:
+44 (0)20 3286 6388
http://www.globecapitalltd.com/
NEX EXCHANGE CORPORATE ADVISER:
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 DECEMBER 2017
Audited Audited
Year ended Year ended
31 December 31 December
2017 2016
GBP GBP
Revenue - -
Other Income 1 -
Administrative Expenses (88,742) (124,394)
Profit / (Loss) Before Income Tax (88,741) (124,394)
Income Tax - -
Profit / (Loss) for the period attributable to equity (88,741) (129,394)
holders
Earnings / (Loss) per share (0.05p) (0.07p)
Basic & Diluted (pence)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DECEMBER 2017
Audited Audited
Year ended Year ended
31 December 31 December
2017 2016
GBP GBP
Non-current Assets
Property, plant and equipment - -
Investment in a subsidiary 1,150 1,150
Investment in an associate 12,500 12,500
Total Non-current Assets 13,650 13,650
Current assets
Trade and other receivables 7,159 6,996
Cash and cash equivalents 57,531 5,576
Total Current Assets 64,690 12,572
Current Liabilities
Trade and other payables 174,411 19,771
Amount due to a shareholder - 94
174,411 19,865
Net Current Liabilities (109,721) (7,293)
Net Assets (96,071) 6,357
Non-current liabilities
Accruals - 11,532
Amounts due to directors 32,397 13,137
Amount due to a shareholder 13,585 35,000
45,982 59,669
Net Liabilities (142,053) (53,312)
Shareholders' Equity
Called Up Share Capital 638,428 638,428
Retained Earnings (780,481) (691,740)
Total Equity (142,053) (53,312)
CONSOLIDATED STATEMENT OF CASH FLOW
For the year ended 31 DECEMBER 2017
Audited Audited
Year ended Year ended
31 December 31 December
2017 2016
GBP GBP
Profit/(Loss) before tax (88,741) (124,394)
Adjustment:
Other income 1 -
Depreciation - 5,631
Operating profit/(loss) (88,742) (118,763)
Cash flows from operating activities
(Increase)/decrease in trade and other receivables (163) (6,945)
Increase/(decrease) in trade and other payables (143,108) (33,908)
Amounts due to directors 19,260 13,137
Cash utilised in operations (73,463) (146,479)
Cash flows from investing activities
Acquisition of a subsidiary - (1,150)
Acquisition of an associate - (12,500)
Bank interest received 1 -
Net cash (used in) from investing activities 1 (13,650)
Cash flows from financing activities
Proceeds from issuance of shares - 120,345
Amount due to a shareholder (21,509) 35,094
Net cash from financing activities (21,509) 155,439
Net decrease in cash and cash equivalents 51,955 (4,690)
Cash and cash equivalents at the beginning of the 5,576 10,266
period
Cash and cash equivalents at end of period 57,531 5,576
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