27th September
2024
Globe
Capital
Limited
("Globe Capital" or the
"Company")
Interim Results for the six months period to
30 June
2024
Chairman’s
Statement
Globe Capital Limited is
pleased to announce its unaudited interim results for the 6 months
period to 30 June 2024.
Operational
costs for the
period amounted to £49k compared to £47k for the 6 months to
June
2023.
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
2024 onwards and will continue to look for further fund raising
opportunities and
investments.
27th September
2024
Simon
Grant Rennick
Chairman
Globe Capital
Limited
Consolidated Profit and Loss
and Other Comprehensive
Income
Six months ended 30 June
2024
|
|
6 months ended
30 June 2024 |
6 months ended
30 June 2023 |
Year
ended
31 December
2023 |
|
|
GBP
'000 |
GBP
'000 |
GBP
'000 |
|
Revenue |
- |
- |
- |
|
Cost
of services |
- |
- |
- |
|
|
|
|
|
|
Gross
Profit |
- |
- |
- |
|
|
|
|
|
|
Other
Income |
- |
- |
- |
|
Administrative
Expenses |
(49) |
(47) |
(88) |
|
Finance Costs |
(5) |
(5) |
(11) |
|
|
|
|
|
|
Loss
Before
Taxation |
(54) |
(53) |
(99) |
|
|
|
|
|
|
Taxation |
- |
- |
- |
|
|
|
|
|
|
Other
Comprehensive Loss |
- |
- |
- |
|
|
|
|
|
|
Loss
for the
period |
(54) |
(53) |
(99) |
|
|
- |
|
|
|
Earning / (Loss) per
share |
|
|
|
|
Basic
& Diluted
(pence) |
(0.02)p |
(0.02)p |
(0.04)p |
|
|
|
|
|
Globe Capital
Limited
Consolidated Statement of
financial position as at 30 June
2024
|
|
30 June
2024 |
30 June
2023 |
31 December
2023 |
|
|
GBP
'000 |
GBP
'000 |
GBP
'000 |
|
|
|
|
|
|
Non-current
assets |
|
|
|
|
Property, plant and
equipment |
- |
- |
- |
|
Goodwill |
-
|
-
|
- |
|
Financial assets at fair value through profit or
loss |
1 |
3 |
3 |
|
|
|
|
|
|
Current
assets |
|
|
|
|
Other
receivables and prepayments |
11 |
8 |
11 |
|
Cash
and cash equivalents |
2 |
1 |
2 |
|
Other
debtors and receivables |
- |
- |
- |
|
|
|
|
|
|
Total
Assets |
14 |
12 |
16 |
|
|
|
|
|
|
Current
Liabilities |
|
|
|
|
Other
payables |
66 |
67 |
199 |
|
|
|
|
|
|
|
|
|
|
|
Creditors: falling due after more than one
year |
|
|
|
|
Amounts due to
directors |
124 |
100 |
112 |
|
Amounts due to a related
company |
179 |
100 |
137 |
|
Other
payables |
130 |
130 |
- |
|
|
|
|
|
|
Total
Liabilities |
499 |
397 |
448 |
|
|
|
|
|
|
Net
Assets |
(485) |
(385) |
(432) |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
Share
Capital |
645 |
645 |
645 |
|
Reserves |
(1130) |
(1030) |
(1077) |
|
|
|
|
|
|
Total
Equity |
(485) |
(385) |
(432) |
Globe Capital
Limited
Consolidated Statement of Cash
Flows
Period ended 30 June
2024
|
|
6 months
ended
30 June 2024 |
6 months
ended
30 June 2023 |
Year ended
31 December
2023 |
|
|
GBP
'000 |
GBP
'000 |
GBP
'000 |
|
Loss
before income tax |
(54) |
(53) |
(99) |
|
Adjustment: |
|
|
|
|
Decrease/(Increase) in value of financial
assets |
2 |
1 |
1 |
|
Interest
expenses |
5 |
5 |
11 |
|
Gain
on financial assets |
- |
- |
- |
|
Non
cash transactions written
off |
- |
- |
- |
|
Operating loss before working capital
changes |
(47) |
(47) |
(87) |
|
|
|
|
|
|
Changes in working
capital: |
|
|
|
|
Other
receivables and prepayments |
- |
(3) |
- |
|
Other
payables |
(5) |
13 |
4 |
|
Amounts due to
directors |
- |
- |
- |
|
Amounts due to
shareholders |
- |
- |
- |
|
Net
cash used in operating
activities |
52 |
(37) |
(83) |
|
|
|
|
|
|
Cash
flows from investing
activities |
|
|
|
|
Other
loan repayments |
- |
- |
- |
|
Increase in loans
receivable |
- |
- |
- |
|
Increase in loans from related
parties |
40 |
12 |
59 |
|
Increase in directors’
loan |
12 |
22 |
24 |
|
Interest
received |
- |
- |
- |
|
Net
cash from investing
activities |
52 |
36 |
83 |
|
|
|
|
|
|
Increase in cash and cash
equivalents |
- |
(1) |
- |
|
Cash
and cash equivalents at the beginning of the
period |
2 |
2 |
2 |
|
Cash
and cash equivalents at end of
period |
2 |
1 |
2 |
|
|
|
|
|
|
Cash
at Bank C/F |
2 |
1 |
2 |
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 £54,000 (2023: loss £53,000) by the weighted average
number of ordinary shares of 255,919,752 (2023:
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
Tel:
+44 (0) 207 469 0930