BORDERS & SOUTHERN PETROLEUM PLC

• ⚠

  Material uncertainty over going concern

  Note 1 states a commitment to drill a well by 2026. The Group needs further funding or an extension if farm-out fails, neither guaranteed. These events indicate a material uncertainty that may cast significant doubt on the Group's ability to continue as going concerns. Financial statements don't include adjustments if unable to continue. Our opinion is not modified.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  —

  Not reported

• Cash

  +8.4%

  £1,441,280 → £1,562,383

• Net assets

  +0.2%

  £221,039,845 → £221,483,143

• Employees

  +20%

  5 → 6

• Operating profit

  -1.6%

  -£852,957 → -£866,412

• Profit before tax

  -14.8%

  -£792,405 → -£909,771

• Wages

  +2.8%

  £320,700 → £329,670

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Note 1 states a commitment to drill a well by 2026. The Group needs further funding or an extension if farm-out fails, neither guaranteed. These events indicate a material uncertainty that may cast significant doubt on the Group's ability to continue as going concerns. Financial statements don't include adjustments if unable to continue. Our opinion is not modified.”

Group structure

1. BORDERS & SOUTHERN PETROLEUM PLC · parent
   1. Borders & Southern Falkland Islands Limited 100% · Falkland Islands · oil and gas exploration

Significant events

• “Whilst the Company is not currently in operations, if the Russia/Ukraine conflict is on-going when it is operating, it could disrupt the supply chains and increase costs.”
• “The current war in Gaza does not have a direct impact on the Company but it has had an impact on investments into and out of the region. This has the potential to impact on future investments in upstream projects around the world high percentage on oil and gas revenues coming from that region.”
• “Post balance sheet the Company raised £2.2 million ($2.8 million) through a share issue.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

3

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.