Gold prices cool after hitting over 2-week high on Fed independence fears
LONDON - Globe Capital Limited (AQSE:GCAP) reported a loss of £118,751 for the year ended December 31, 2024, widening from a £99,211 loss in the previous year, according to the company’s annual report released Tuesday.
The investment firm, which seeks opportunities in businesses offering capital growth, recorded no revenue for the second consecutive year. Loss per share increased to 0.05 pence from 0.04 pence in 2023.
The company’s financial position shows net liabilities of £550,365, with current liabilities exceeding current assets by £278,279 as of December 31, 2024. Cash reserves dwindled to just £120, down from £1,801 at the end of 2023.
Auditors highlighted a material uncertainty regarding the company’s ability to continue as a going concern, though they did not modify their opinion. The company stated it continues to receive support from directors and shareholders Burns Singh Tennent-Bhohi and Simon Grant-Rennick.
"In the past year, the Directors have kept operational costs at a minimum, where possible," said Simon Grant-Rennick, Chairman of Globe Capital, in the press release statement.
Administrative expenses rose to £104,377 from £88,057 in 2023, while finance costs increased to £14,374 from £11,154.
The company declared no dividends for the year.
Globe Capital’s consolidated statement of financial position shows total assets of £11,672, against total liabilities of £562,037. The company reported that it will continue to seek fund raising opportunities and investments through 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.