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DJ Globe Capital Limited Audited Annual Results for the year ended 31 Dec 2017

 
TIDMGCAP 
 
Globe Capital Limited 
                      ("Globe Capital" or the "Company") 
 
          Audited Annual Results for the year ended 31 December 2017 
 
Globe Capital Limited (NEX: GCAP) is pleased to announce its audited annual 
results for year ended 31 December 2017. 
 
Chairman's Statement 
 
I am pleased to report the final audited results for the year ended 31 December 
2017 of Globe Capital Limited ("the Company"). 
 
Financial performance 
 
The turnover for the year was nil (2016: nil) and the loss was GBP88,741 (2016: GBP 
124,394). The loss per share was 0.05 pence (2016: 0.07 pence).  In the past 
year, the Directors have kept operational costs at a minimum. 
 
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 Darren Edmonston joined the board and hope his 
experience and knowledge continues to prove to be of great value to the 
business. 
 
Future prospects 
 
At the start of the 2018, the Company raised GBP500,000 in new equity and has 
opened an office in the United Arab Emirates, with the company setting up a 
marketing consultancy business under the name Vogel Marketing Consultants FZE 
and to further encourage the growth within Sterling Craig Limited. 
 
The Directors are see opportunities to promote UK and EU companies within the 
gulf region. 
 
I hope to be able to give further news of these developments in the near 
future. 
 
David Barnett 
Chairman 
 
31 May 2018 
 
 
The directors of Globe Capital Limited accept responsibility for this 
announcement. 
 
 
For further information: 
 
Globe Capital Limited 
Christopher Neo, Company Secretary 
+44 (0)20 3286 6388 
http://www.globecapitalltd.com/ 
 
NEX EXCHANGE CORPORATE ADVISER: 
 
Alexander David Securities Limited 
David Scott - Corporate Finance 
James Dewhurst - Institutional Sales 
Telephone: +44 (0) 20 7448 9820 
http://www.ad-securities.com 
49 Queen Victoria Street, London EC4N 4SA 
 
 
 
GLOBE CAPITAL LIMITED 
 
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          (88,741)           (129,394) 
to equity holders 
 
Earnings / (Loss) per share                           (0.05p)             (0.07p) 
Basic & Diluted (pence) 
 
 
 
GLOBE CAPITAL LIMITED 
 
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                                                          (691,740) 
                                                    (780,481) 
 
Total Equity                                        (142,053)               (53,312) 
 
 
 
GLOBE CAPITAL LIMITED 
 
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                      (163)         (6,945) 
receivables 
 
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               5,576          10,266 
the period 
 
Cash and cash equivalents at end of period                 57,531           5,576 
 
 
 
END 
 

(END) Dow Jones Newswires

May 31, 2018 09:51 ET (13:51 GMT)