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Globe Capital Limited - Interim Results to 30 June 2021

·3-min read

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

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