Globe Capital Limited: Interim Results for the six months period to 30 June 2023

Globe Capital

29/09/2023 07:00

29(th) September 2023

Globe Capital Limited

("Globe Capital" or the "Company")

Interim Results for the six months period to 30 June 2023

Chairman’s Statement

Globe Capital Limited is pleased to announce its unaudited interim results for
the 6 months period to 30 June 2023. Operational costs for the period amounted
to £47k compared to £35k for the 6 months to June 2022.

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 2023 onwards and will continue to look for further fund
raising opportunities and investments.

29(th) September 2023

Simon Grant Rennick

Chairman

Globe Capital Limited

Consolidated Profit and Loss and Other Comprehensive Income

Six months ended 30 June 2023

                              6 months ended           30 June 2023              6 months ended           30 June 2022             Year ended       
                                                                                                                                   			31 December   
                                                                                                                                   			2022          
                              GBP '000                                           GBP '000                                           GBP '000        
 Revenue                     -                                                  -                                                  -                
 Cost of services            -                                                  -                                                  -                
                                                                                                                                                    
 Gross Profit                -                                                  -                                                  -                
                                                                                                                                                    
 Other Income                -                                                  -                                                  -                
 Administrative Expenses     (47)                                               (35)                                               (87)             
 Finance Costs               (5)                                                                   (3)                             (7)              
                                                                                                                                                    
 Loss Before Taxation        (53)                                               (38)                                               (94)             
                                                                                                                                                    
 Taxation                                      -                                                  -                                -                
                                                                                                                                                    
 Other Comprehensive Loss                      -                                                  -                                -                
                                                                                                                                                    
 Loss for the period         (53)                                               (38)                                               (94)             
                                                                                                                                                    
 Earning / (Loss) per share                                                                                                                         
 Basic & Diluted (pence)             (0.02)p                                              (0.01)p                                  (0.04)p          
                                                                                                                                                    

Globe Capital Limited

Consolidated Statement of financial position as at 30 June 2023

                                                         30 June                                 30 June                                     31 December                       
                                                        			2023                                 			2022                                     			2022                            
                                                         GBP '000                                GBP '000                                    GBP '000                          
                                                                                                                                                                               
 Non-current assets                                                                                                                                                            
 Property, plant and equipment                          -                                                    -                              -                                  
 Goodwill                                               -                                       -                                           -                                  
 Financial assets at fair value through profit or loss  3                                       1                                           4                                  
                                                                                                                                                                               
 Current assets                                                                                                                                                                
 Other receivables and prepayments                      8                                       12                                          11                                 
 Cash and cash equivalents                              1                                       4                                           2                                  
 Other debtors and receivables                          -                                       -                                           -                                  
                                                                                                                                                                               
 Total Assets                                           12                                      17                                          13                                 
                                                                                                                                                                               
 Current Liabilities                                                                                                                                                           
 Other payables                                         67                                      45                                          184                                
                                                                                                                                                                               
                                                                                                                                                                               
 Creditors: falling due after more than one year                                                                                                                               
 Amounts due to directors                               100                                     71                                          88                                 
 Amounts due to a related company                       100                                     50                                          78                                 
 Other payables                                         130                                     127                                         -                                  
                                                                                                                                                                               
 Total Liabilities                                      397                                     293                                         166                                
                                                                                                                                                                               
 Net Assets                                             (385)                                   (276)                                       (332)                              
                                                                                                                                                                               
 Shareholders' Equity                                                                                                                                                          
 Share Capital                                          645                                     645                                         645                                
 Reserves                                               (1030)                                  (921)                                       (977)                              
                                                                                                                                                                               
 Total Equity                                           (385)                                   (276)                                       (332)                              

Globe Capital Limited

Consolidated Statement of Cash Flows

Period ended 30 June 2023

                                                            6 months ended           30 June 2023              6 months ended           30 June 2022              Year ended      
                                                                                                                                                                 			31 December   
                                                                                                                                                                 			2022          
                                                            GBP '000                                           GBP '000                                           GBP '000        
 Loss before income tax                                    (53)                                               (34)                                               (94)             
 Adjustment:                                                                                                                                                                      
 Decrease/(Increase) in value of financial assets          1                                                  1                                                  4                
 Interest expenses                                         5                                                  3                                                  7                
 Gain on financial assets                                  -                                                  -                                                  -                
 Non cash transactions written off                         -                                                  -                                                  -                
 Operating loss before working capital changes             (47)                                               (30)                                               (83)             
                                                                                                                                                                                  
 Changes in working capital:                                                                                                                                                      
 Other receivables and prepayments                         (3)                                                (3)                                                (2)              
 Other payables                                            13                                                 (24)                                               (19)             
 Amounts due to directors                                  -                                                  -                                                  -                
 Amounts due to shareholders                               -                                                  -                                                  -                
 Net cash used in operating activities                     -                                                  -                                                  -                
                                                                                                                                                                                  
 Cash flows from investing activities                                                                                                                                             
 Other loan repayments                                     -                                                  -                                                  -                
 Increase in loans receivable                              -                                                  -                                                  -                
 Increase in loans from related parties                    12                                                 17                                                 46               
 Increase in directors’ loan                               22                                                 17                                                 34               
 Interest received                                         -                                                  -                                                  -                
 Net cash from investing activities                        36                                                 34                                                 79               
                                                                                                                                                                                  
 Increase in cash and cash equivalents                     (1)                                                (23)                                               (25)             
 Cash and cash equivalents at the beginning of the period  2                                                                    27                               27               
 Cash and cash equivalents at end of period                1                                                  4                                                  2                
                                                                                                                                                                                  
 Cash at Bank C/F                                          1                                                  4                                                  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 £53,000 (2022: loss £38,000) by the weighted average number of
ordinary shares of 255,919,752 (2022: 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

Guy Miller / Mark Anwyl

Tel: +44 (0) 207 469 0930



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