30th September 2022
Globe Capital
Limited
("Globe Capital"
or the "Company")
Interim Results
for the six months period to 30 June
2022
Globe Capital Limited is pleased to announce its unaudited
interim results for the 6 months period to 30 June 2022. Operational costs for the period
amounted to £35k compared to £31k for the 6 months to June 2021.
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.
Executive Director, Burns Singh Tennent-Bhohi commented,
“We are living through quite extraordinary times in global
financial markets. The world is gripped by a myriad of complex
economic & geo-political problems that shine light on our
dependency on globalisation and how challenging deglobalisation and
realistic closed economic models are.
This palpable shift is being felt by
the consumer and general public, resulting in an acute disconnect
between monetary and fiscal policy after more than 10-years of
monetary policy dominating financial market capital inflows.
Whilst the Company still progresses final elements of our
corporate restructure, we do so knowing that the Company is well
positioned to perform as a publicly quoted investment issuer. The
Board remain in active commercial discussions for which the
majority is inbound and should anything materialise the Company
will update the market accordingly.”
Globe Capital Limited
Consolidated Profit and Loss and Other
Comprehensive Income
Six months ended 30 June 2022
|
6 months ended 30 June 2022 |
6 months ended 30 June 2021 |
Year
ended
31 December
2021 |
|
GBP '000 |
GBP '000 |
GBP '000 |
| Revenue |
- |
- |
- |
| Cost of services |
- |
- |
- |
|
|
|
|
| Gross
Profit |
- |
- |
- |
|
|
|
|
| Other Income |
- |
- |
- |
| Administrative
Expenses |
(35) |
(31) |
(7) |
| Finance Costs |
(3) |
(3) |
(6) |
|
|
|
|
| Loss Before
Taxation |
(38) |
(34) |
(13) |
|
|
|
|
| Taxation |
- |
- |
- |
|
|
|
|
| Other Comprehensive
Loss |
- |
- |
- |
|
|
|
|
| Loss for the
period |
(38) |
(34) |
(13) |
|
|
|
|
| Earning / (Loss)
per share |
|
|
|
| Basic & Diluted
(pence) |
(0.01)p |
(0.01)p |
(0.005)p |
|
|
|
|
Globe Capital Limited
Consolidated Statement of financial
position as at 30 June 2022
|
30 June
2022 |
30 June
2021 |
31 December
2021 |
|
GBP '000 |
GBP '000 |
GBP '000 |
|
|
|
|
| Non-current
assets |
|
|
|
| Property, plant and
equipment |
- |
- |
- |
| Goodwill |
-
|
-
|
- |
| Financial assets at
fair value through profit or loss |
1 |
10 |
8 |
|
|
|
|
| Current
assets |
|
|
|
| Other receivables and
prepayments |
12 |
8 |
9 |
| Cash and cash
equivalents |
4 |
23 |
27 |
| Other debtors and
receivables |
|
- |
- |
|
|
|
|
| Total
Assets |
17 |
41 |
36 |
|
|
|
|
| Current
Liabilities |
|
|
|
| Other payables |
45 |
145 |
72 |
|
|
|
|
|
|
|
|
| Creditors: falling
due after more than one year |
|
|
|
| Amounts due to
directors |
71 |
34 |
54 |
| Amounts due to a
related company |
50 |
- |
33 |
| Other payables |
127 |
121 |
124 |
|
|
|
|
| Total
Liabilities |
293 |
300 |
211 |
|
|
|
|
| Net Assets |
(276) |
(259) |
(238) |
|
|
|
|
| Shareholders'
Equity |
|
|
|
| Share Capital |
645 |
645 |
645 |
| Reserves |
(921) |
(904) |
(883) |
|
|
|
|
| Total
Equity |
(276) |
(259) |
(238) |
Globe Capital Limited
Consolidated Statement of Cash
Flows
Period ended 30
June 2022
|
6 months
ended
30 June 2022 |
6 months
ended
30 June 2021 |
Year ended
31 December
2021 |
|
GBP '000 |
GBP '000 |
GBP '000 |
| Loss before income
tax |
(34) |
(34) |
(13) |
| Adjustment: |
|
|
|
| Decrease/(Increase) in
value of financial assets |
1 |
- |
(7) |
| Interest expenses |
3 |
3 |
6 |
| Gain on financial
assets |
- |
(9) |
- |
| Non cash transactions
written off |
- |
- |
(30) |
| Operating loss before
working capital changes |
(30) |
(40) |
(44) |
|
|
|
|
| Changes in working
capital: |
|
|
|
| Other receivables and
prepayments |
(3) |
(1) |
(1) |
| Other payables |
(24) |
37 |
(28) |
| Amounts due to
directors |
- |
10 |
- |
| Amounts due to
shareholders |
- |
- |
- |
| Net cash used in
operating activities |
- |
6 |
- |
|
|
|
|
| Cash flows from
investing activities |
|
|
|
| Other loan
repayments |
- |
- |
(18) |
| Increase in loans
receivable |
- |
- |
20 |
| Increase in loans from
related parties |
17 |
- |
32 |
| Increase in directors’
loan |
17 |
- |
48 |
| Interest received |
- |
- |
- |
| Net cash from
investing activities |
34 |
- |
83 |
|
|
|
|
| Increase in cash and
cash equivalents |
(23) |
6 |
10 |
| Cash and cash
equivalents at the beginning of the period |
27 |
17 |
17 |
| Cash and cash
equivalents at end of period |
4 |
23 |
27 |
|
|
|
|
| Cash at Bank
C/F |
4 |
23 |
27 |
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 £38,000 (2021: loss £34,000) by the weighted
average number of ordinary shares of 255,919,752 (2021:
255,919,752).
The directors of Globe Capital Limited
accept responsibility for this announcement.
For further information
Globe Capital Limited
Darren Edmonston
Tel: +44 (0) 1279 635511
CORPORATE ADVISER AND CONTACT
DETAILS:
Peterhouse Capital Limited
Guy Miller / Anwyl
Tel: +44 (0) 207 469 0930