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DJ Globe Capital Limited Interim Results for six months period to 30 June 2019

 
TIDMGCAP 
 
14 October 2019 
 
 
                             Globe Capital Limited 
                      ("Globe Capital" or the "Company") 
 
           Interim Results for the six months period to 30 June 2019 
 
Chairman's Statement 
 
Globe Capital Limited is pleased to announce its unaudited interim results for 
the 6 months period to 30 June 2019. Operational costs for the period amounted 
to GBP82k compared to GBP113k for the 6 months to June 2018. 
 
The company is continuing with the promotion of companies from the UK and EU 
within the gulf region and the company continues to seek medium to long term 
investments in businesses that exhibit growth potential. The Company continues 
to intend 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 is continuing to see a slowing down of opportunities within Dubai 
due to the changes in the countries banking regulations, which has been further 
impacted by the continued delay and uncertainty around BREXIT, affecting both 
the UK and the EU. 
 
 
 
14th October 2019 
 
David Barnett 
Chairman 
 
 
 
 
Globe Capital Limited 
Statement of Comprehensive Income 
Six months ended 30 June 2019 
 
                                                   6 months     6 months   Year ended 
                                                      ended        ended  31 December 
                                               30 June 2019 30 June 2018         2018 
 
                                                   GBP '000     GBP '000     GBP '000 
 
Revenue                                                   -            -            - 
 
Other Income                                              6            -            6 
 
Gross Profit                                              -            -            - 
 
Administrative Expenses                                (82)        (113)        (219) 
 
Profit / (Loss) from Operations                        (76)        (113)        (213) 
 
Finance Costs                                             -            -            - 
 
Profit / (Loss) Before Taxation                        (76)        (113)        (213) 
 
Taxation                                                  -            -            - 
 
Other Comprehensive Loss                                  -            -            - 
 
Profit / (Loss) for the period                         (76)        (113)        (213) 
 
Earning / (Loss) per share 
 
Basic & Diluted (pence)                             (0.03)p      (0.05)p      (0.09)p 
 
 
 
 
 
Globe Capital Limited 
Balance Sheet as at 30 June 2018 
 
                                                       30 June     30 June 31 December 
                                                          2019        2018        2018 
 
                                                      GBP '000    GBP '000    GBP '000 
 
Non-current assets 
 
Property, plant and equipment                                9          21          16 
 
Investments                                                 14          14          14 
 
Loans Receivable                                             -           -          25 
 
Current assets 
 
Prepayments                                                 22          57          48 
 
Cash and cash equivalents                                   12         169          57 
 
Other debtors and receivables                              146         126         110 
 
Total Assets                                               203         387         270 
 
Current Liabilities 
 
Trade and other payables                                   130         138         162 
 
Accruals                                                    38          44           - 
 
Financial Liabilities - Borrowings                           -           -           - 
 
Creditors: falling due after more than one year 
 
Amounts due to directors                                    17          11          14 
 
Amounts due to a shareholder                                 -           -           - 
 
Total Liabilities                                          185         193         176 
 
Net Assets                                                  18         194          94 
 
Shareholders' Equity 
 
Share Capital                                              645         645         645 
 
Reserves                                                 (627)       (451)       (551) 
 
Total Equity                                                18         194          94 
 
 
 
 
Globe Capital Limited 
Statement of Cash Flows 
Period ended 30 June 2018 
 
                                                       6 months    6 months  Year ended 
                                                          ended       ended 31 December 
                                                        30 June     30 June        2018 
                                                           2019        2018 
 
                                                       GBP '000    GBP '000    GBP '000 
 
Profit/(Loss) before tax                                   (76)       (113)       (213) 
 
Adjustment: 
 
Other income                                                  -           -           5 
 
Depreciation                                                  -           -         (7) 
 
Operating profit/(loss)                                    (76)       (113)       (215) 
 
Cash flows from operating activities 
 
(Increase)/decrease in trade and other receivables            3       (177)        (40) 
 
Increase/(decrease) in trade and other payables               6           7        (13) 
 
Amounts due to Directors                                      3        (21)        (18) 
 
Share based payments                                                      -           - 
 
Cash utilised in operations                                (64)       (304)       (286) 
 
Cash flows from investing activities 
 
Interest received                                             6           -           6 
 
Loans receivable                                             13           -       (136) 
 
Purchase of tangible assets                                   -        (21)        (21) 
 
Net cash from investing activities                           19        (21)       (151) 
 
Cash flows from financing activities 
 
Issue of new shares                                           -         450         450 
 
Amounts due to a shareholder                                  -        (14)        (14) 
 
Net cash from financing activities                            -         436         436 
 
(Decrease)/increase in cash and cash equivalents           (45)         111         (1) 
 
Cash and cash equivalents at the beginning of the            57          58          58 
period 
 
Cash and cash equivalents at end of period                   12         169          57 
 
Cash at Bank C/F                                             12         169          57 
 
 
 
 
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 GBP113,000 (2018: loss GBP113,000) by the weighted average number of 
ordinary shares of 255,919,752 (2018: 222,586,419). 
 
The directors of Globe Capital Limited accept responsibility for this 
announcement. 
For further information 
 
Globe Capital Limited 
David Barnett 
Chairman 
+1-855-280-6793 
 
 
CORPORATE ADVISER AND CONTACT DETAILS: 
 
Brian Stockbridge 
First Sentinel Corporate Finance 
Suite 12A 
55 Park Lane 
Mayfair, London 
W1K 1NA 
Tel +44 (0) 207 183 7405 
E-mail: Brian@first-sentinel.com 
 
 
 
 
 
END 
 

(END) Dow Jones Newswires

October 15, 2019 10:13 ET (14:13 GMT)