Globe Capital Limited
("Globe Capital" or the "Company")
Annual report
For the year ended 31 December 2024
Globe Capital Limited
Chairman’s statement
For the year ended 31 December 2024
Globe Capital Limited (AQSE : GCAP) is pleased to announce its audited annual results for the year ended 31 December 2024.
Chairman’s statement
I am pleased to announce the final audited results for Globe Capital Limited (the "Company") and its subsidiaries (the "Group") for the year ended 31 December 2024.
Financial performance
The turnover for the year was £Nil (2023: £Nil) and the loss was £118,751 (2023: £99,211). The loss per share was 0.05 pence (2023: 0.04 pence). In the past year, the Directors have kept operational costs at a minimum, where possible.
No dividends have been declared for the year ended 31 December 2024.
Review of operations
The Company’s investment strategy is to seek and evaluate appropriate investment opportunities in businesses that offer capital growth.
The Company’s full annual report, includes a going concern note (extracted below from the Auditor’s Report) in relation to the preparation of the financial statements, which confirms that whilst the Company’s current liabilities exceeded its current assets as at 31 December 2024 by £278,279, continued support is currently being provided by the Company’s Directors and shareholders Burns Singh Tennent-Bhohi (Glenpani Group & Eastport Ventures Inc.) and Simon Grant-Rennick. The Auditors have indicated a material uncertainty which may cast significant doubt about the Group’s ability to continue as a going concern. but have not modified these opinions.
“Material uncertainty related to going concern
We draw attention to note 2 (c) in the consolidated financial statements, which indicates that the group incurred a loss attributable to owners of the company of £118,751 for the year ended 31 December 2024 and as at 31 December 2024 the group had net current liabilities and net liabilities of £278,279 and £550,365 respectively. As stated in note 2 (c), indicate that a material uncertainty exists that may cast significant doubt on the group’s and the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.”
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.
Simon Grant Rennick
Chairman
Date: 25 June 2025
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
Globe Capital Limited
Consolidated statement of profit or loss and other comprehensive income
For the year ended 31 December 2024
2024
2023
GBP
GBP
Revenue
-
-
Administrative expenses
(104,377
)
(88,057
)
Finance costs
(14,374
)
(11,154
)
Loss before income tax
(118,751
)
(99,211
)
Income tax
-
-
Loss and other comprehensive loss for the year
(118,751
)
(99,211
)
Loss per share
Pence
Pence
Basic and diluted
(0.05
)
(0.04
)
All operations are considered to be continuing.
Globe Capital Limited
Consolidated statement of financial position
As at 31 December 2024
2024
2023
GBP
GBP
Non-current assets
Goodwill
-
-
Financial assets at fair value through profit or loss
362
2,966
362
2,966
Current assets
Other receivables and prepayments
11,190
10,945
Cash and cash equivalents
120
1,801
11,310
12,746
Current liabilities
Other payables
289,589
198,879
Net current liabilities
(278,279
)
(186,133
)
Total assets less current liabilities
(277,917
)
(183,167
)
Non-current liabilities
Amounts due to related companies
136,671
136,671
Amounts due to directors
135,777
111,776
272,448
248,447
Net liabilities
(550,365
)
(431,614
)
Capital and reserves
Share capital
645,094
645,094
Share premium account
940,226
940,226
Reserves
(2,135,685
)
(2,016,934
)
Total equity
(550,365
)
(431,614
)
Approved and authorised for issue by the Board of Directors on
Burns Singh Tennent-Bhohi Simon Grant-Rennick
Director Director
Globe Capital Limited
Company statement of financial position
As at 31 December 2024
2024
2023
GBP
GBP
Non-current assets
Investment in Subsidiary
1,250
1,250
Goodwill
-
-
Financial assets at fair value through profit or loss
362
2,966
1,612
4,216
Current assets
Other receivables and prepayments
11,090
10,844
Loans receivables
120
1,801
11,210
12,645
Current liabilities
Other payables
289,590
198,879
Net current liabilities
(278,380
)
(186,234
)
Total assets less current liabilities
(276,768
)
(182,018
)
Non-current liabilities
Amount due to related companies
136,671
136,671
Amounts due to directors
135,777
111,776
272,448
248,447
Net liabilities
(549,216
)
(430,465
)
Capital and reserves
Share capital
)
645,094
645,094
Share premium account
940,226
940,226
Reserves
(2,134,536
)
(2,015,785
)
Total equity
(549,216
)
(430,465
)
The loss of the parent company for the year ended 31st December 2024 was £118,751 (2023 - £99,211)
Approved and authorised for issue by the Board of Directors on
Burns Singh Tennent-Bhohi Simon Grant-Rennick
Director Director
Statement of changes in equity
For the year ended 31 December 2024
Group
Share
Share
Accumulated
capital
premium
losses
Total
GBP
GBP
GBP
GBP
As at 1.1.2023
645,094
940,226
(1,917,723
)
(332,403
)
Loss and total comprehensive lossfor the year
-
-
(99,211
)
(99,211
)
As at 31.12.2023 and 1.1.2024
645,094
940,226
(2,016,934
)
(431,614
)
Loss and total comprehensive loss for the year
-
-
(118,751
)
(118,751
)
As at 31.12.2024
645,094
940,226
(2,135,685
)
(550,365
)
Company
Share
Share
Accumulated
capital
premium
losses
Total
GBP
GBP
GBP
GBP
As at 1.1.2023
645,094
940,226
(1,916,574
)
(331,254
)
Loss and total comprehensive lossfor the year
-
-
(99,211
)
(99,211
)
As at 31.12.2023 and 1.1.2024
645,094
940,226
(2,015,785
)
(430,465
)
Loss and total comprehensive loss for the year
-
-
(118,751
)
(118,751
)
As at 31.12.2024
645,094
940,226
(2,134,536
)
(549,216
)
Globe Capital Limited
Consolidated statement of cash flows
For the year ended 31 December 2024
2024
2023
GBP
GBP
Cash flows from operating activities
Loss before income tax
(118,751
)
(99,211
)
Adjustments for:
Fair value loss on financial assets at fair value through Profit and loss account
2,604
1,516
Interest expenses
14,374
11,154
Operating loss before working capital changes
(101,773
)
(86,541
)
Changes in working capital:
Other receivables and prepayments
(245
)
(405
)
Increase/(Decrease) in creditors
76,337
4,015
Net cash used in operating activities
(25,681
)
(82,931
)
Cash flows from investing activities
Increase in loans from related parties
-
58,671
Increase in directors loan
24,000
23,999
Net cash from investing activities
24,000
82,670
Net decrease in cash and cashEquivalents
(1,681
)
(261
)
Cash and cash equivalents at beginning of the year
