Globe Capital Limited - Interim Results for the six months to 30 June 2020
Announcement provided by
Globe Capital Limited · GCAP30/09/2020 16:21
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Interim Results for the six months period to
Chairman’s Statement
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 its operations through the subsidiary Vogel Marketing Services FSZ in
The company continues to receive support from its shareholders and loan note holders to meet its ongoing costs.
30th September 2020
Chairman
Profit and Loss and Other Comprehensive Income
Six months ended
| 6 months ended |
6 months ended |
Year ended 31 December 2019 |
|
| GBP '000 | GBP '000 | GBP '000 | |
| Revenue | 10 | - | 10 |
| Cost of services | - | - | (8) |
| Gross Profit | 10 | - | 2 |
| Other Income | 2 | 6 | 10 |
| Administrative Expenses | (61) | (82) | (182) |
| Finance Costs | (6) | - | (12) |
| Profit / (Loss) Before Taxation | (55) | (76) | (182) |
| Taxation | - | - | - |
| Other Comprehensive Loss | - | - | - |
| Profit / (Loss) for the period | (55) | (76) | (182) |
| Earning / (Loss) per share | |||
| Basic & Diluted (pence) | (0.02)p | (0.03)p | (0.07)p |
Balance Sheet as at
| 30 June 2020 |
30 June 2019 |
31 December 2019 |
|
| GBP '000 | GBP '000 | GBP '000 | |
| Non-current assets | |||
| Property, plant and equipment | - | 9 | 9 |
| Investments | - | 14 | - |
| Loans Receivable | - | - | - |
| Current assets | |||
| Prepayments | 15 | 22 | 20 |
| Cash and cash equivalents | 14 | 12 | 5 |
| Other debtors and receivables | 56 | 146 | 85 |
| Total Assets | 85 | 203 | 119 |
| Current Liabilities | |||
| Trade and other payables | 66 | 168 | 191 |
| Creditors: falling due after more than one year | |||
| Amounts due to directors | 26 | 17 | 16 |
| Amounts due to a shareholder | 18 | - | - |
| Other payables | 118 | - | - |
| Total Liabilities | 228 | 185 | 207 |
| Net Assets | (143) | 18 | (88) |
| Shareholders' Equity | |||
| Share Capital | 645 | 645 | 645 |
| Reserves | (788) | (627) | (733) |
| Total Equity | (143) | 18 | (88) |
Statement of Cash Flows
Period ended
| 6 months ended |
6 months ended |
Year ended 31 December 2019 |
|
| GBP '000 | GBP '000 | GBP '000 | |
| Profit/(Loss) before tax | (55) | (76) | (182) |
| Adjustment: | |||
| Depreciation | 9 | - | 7 |
| Impairment of goodwill | - | - | 1 |
| Interest expenses | 6 | - | 12 |
| Other income | (2) | - | (10) |
| Loss on disposal of an associate | 13 | ||
| Operating profit/(loss) | (42) | (76) | (159) |
| Cash flows from operating activities | |||
| Prepayments | 5 | 3 | 28 |
| Other payables | (13) | 6 | 17 |
| Amounts due to directors | 10 | 3 | 2 |
| Amounts due to shareholders | 18 | - | - |
| Cash utilised in operations | (22) | (64) | (112) |
| Cash flows from investing activities | |||
| Interest received | 2 | 6 | 10 |
| Loans receivable | 29 | 13 | 50 |
| Net cash from investing activities | 31 | 19 | 60 |
| (Decrease)/increase in cash and cash equivalents | 9 | (45) | (52) |
| Cash and cash equivalents at the beginning of the period | 5 | 57 | 57 |
| Cash and cash equivalents at end of period | 14 | 12 | 5 |
| Cash at Bank C/F | 14 | 12 | 5 |
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 £55,000 (2019: loss £76,000) by the weighted average number of ordinary shares of 255,919,752 (2019: 255,919,752).
The directors of
For further information
Chairman
+1-855-280-6793
CORPORATE ADVISER AND CONTACT DETAILS:
Brian Stockbridge
First Sentinel Corporate Finance
W1T 4QQ
Tel +44 (0) 207 183 7405
E-mail: Brian@first-sentinel.com
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