Interim Results for the six months period to 30 June 2024

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 30 June 2024	6 months ended 30 June 2023	Year ended 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 2024	30 June 2023	31 December 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: [phone]

CORPORATE ADVISER AND CONTACT DETAILS:

Peterhouse Capital Limited
Tel: [phone]

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