Globe Capital Limited: Interim Results for the six months period to 30 June 2024
27/09/2024 13:31
27(th) September 2024
Globe Capital Limited
("Globe Capital" or the "Company")
Interim Results for the six months period to 30 June 2024
Chairman’s Statement
Globe Capital Limited is pleased to announce its unaudited interim results for
the 6 months period to 30 June 2024. Operational costs for the period amounted
to £49k compared to £47k for the 6 months to June 2023.
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 2024 onwards and will continue to look for further fund
raising opportunities and investments.
27(th) September 2024
Simon Grant Rennick
Chairman
Globe Capital Limited
Consolidated Profit and Loss and Other Comprehensive Income
Six months ended 30 June 2024
6 months ended 6 months ended Year ended
30 June 2024 30 June 2023 31 December
2023
GBP '000 GBP '000 GBP '000
Revenue - - -
Cost of services - - -
Gross Profit - - -
Other Income - - -
Administrative Expenses (49) (47) (88)
Finance Costs (5) (5) (11)
Loss Before Taxation (54) (53) (99)
Taxation - - -
Other Comprehensive Loss - - -
Loss for the period (54) (53) (99)
-
Earning / (Loss) per share
Basic & Diluted (pence) (0.02)p (0.02)p (0.04)p
Globe Capital Limited
Consolidated Statement of financial position as at 30 June 2024
30 June 30 June 31 December
2024 2023 2023
GBP '000 GBP '000 GBP '000
Non-current assets
Property, plant and equipment - - -
Goodwill - - -
Financial assets at fair value through profit or loss 1 3 3
Current assets
Other receivables and prepayments 11 8 11
Cash and cash equivalents 2 1 2
Other debtors and receivables - - -
Total Assets 14 12 16
Current Liabilities
Other payables 66 67 199
Creditors: falling due after more than one year
Amounts due to directors 124 100 112
Amounts due to a related company 179 100 137
Other payables 130 130 -
Total Liabilities 499 397 448
Net Assets (485) (385) (432)
Shareholders' Equity
Share Capital 645 645 645
Reserves (1130) (1030) (1077)
Total Equity (485) (385) (432)
Globe Capital Limited
Consolidated Statement of Cash Flows
Period ended 30 June 2024
6 months ended 30 June 2024 6 months ended 30 June 2023 Year ended
31 December
2023
GBP '000 GBP '000 GBP '000
Loss before income tax (54) (53) (99)
Adjustment:
Decrease/(Increase) in value of financial assets 2 1 1
Interest expenses 5 5 11
Gain on financial assets - - -
Non cash transactions written off - - -
Operating loss before working capital changes (47) (47) (87)
Changes in working capital:
Other receivables and prepayments - (3) -
Other payables (5) 13 4
Amounts due to directors - - -
Amounts due to shareholders - - -
Net cash used in operating activities 52 (37) (83)
Cash flows from investing activities
Other loan repayments - - -
Increase in loans receivable - - -
Increase in loans from related parties 40 12 59
Increase in directors’ loan 12 22 24
Interest received - - -
Net cash from investing activities 52 36 83
Increase in cash and cash equivalents - (1) -
Cash and cash equivalents at the beginning of the period 2 2 2
Cash and cash equivalents at end of period 2 1 2
Cash at Bank C/F 2 1 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 £54,000 (2023: loss £53,000) by the weighted average number of
ordinary shares of 255,919,752 (2023: 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
Tel: +44 (0) 207 469 0930
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