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