ATERIAN PLC
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Cash
£126K
+96.9% highest in 3 filed years
Net assets
£1.4M
-38.5% lowest in 3 filed years
Employees
19
-9.5% lowest in 3 filed years
Profit before tax
-£2M
-24.7% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The financial statements have been prepared on a going concern basis. The Group has not yet earned significant revenues and as at 31 December 2025 the Group's assets in Morocco, Rwanda and Botswana are in the early stages of exploration and assessment. Continuing operations of the Group are currently financed from funds raised from shareholders and deb
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | — | £42,000 | £110,000 | +161.9% | |
| Operating profit | -£1,008,000 | -£1,558,000 | -£1,790,000 | -14.9% | |
| Profit before tax | -£1,062,000 | -£1,617,000 | -£2,016,000 | -24.7% | |
| Net profit | -£1,062,000 | -£1,617,000 | -£2,016,000 | -24.7% | |
| Cash | £73,000 | £64,000 | £126,000 | +96.9% | |
| Total assets less current liabilities | £3,418,000 | £2,314,000 | £2,281,000 | -1.4% | |
| Net assets | £3,418,000 | £2,314,000 | £1,424,000 | -38.5% | |
| Equity | £3,418,000 | £2,314,000 | £1,424,000 | -38.5% | |
| Average employees | 24 | 21 | 19 | -9.5% | |
| Wages | £290,000 | £428,000 | £383,000 | -10.5% | |
| Directors' remuneration | £224,000 | £257,000 | £241,000 | -6.2% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Return on capital employed | -29.5% | -67.3% | -78.5% | |
| Gearing (liabilities / total assets) | — | 37.5% | 66.7% | |
| Current ratio | 0.79x | 0.11x | 0.37x | |
| Interest cover | -18.67x | -26.41x | -6.68x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 5 times since incorporation
- ATERIAN PLC 2022-11-02 → present
- EASTINCO MINING AND EXPLORATION PLC 2020-01-08 → 2022-11-02
- EQUATORIAL MINING AND EXPLORATION PLC 2013-06-26 → 2020-01-08
- RARE MINERALS PLC 2011-02-15 → 2013-06-26
- RARE MINERALS LIMITED 2011-01-20 → 2011-02-15
- CHARZOR LIMITED 2011-01-18 → 2011-01-20
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- RPG Crouch Chapman LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The financial statements have been prepared on a going concern basis. The Group has not yet earned significant revenues and as at 31 December 2025 the Group's assets in Morocco, Rwanda and Botswana are in the early stages of exploration and assessment. Continuing operations of the Group are currently financed from funds raised from shareholders and deb”
Group structure
- ATERIAN PLC · parent
- Eastinco Ltd 100%
- Eastinco ME Ltd 100%
- East Explore Limited 100%
- Musasa Mining Ltd 100%
- Kinunga Mining Ltd 70%
- Atlantis Minerals Ltd 90%
- Adrar Resources 100%
- Azru Resources S.A.R.L.A.U. 100%
- Strat Co Limited 100%
- Future Frontier Limited 100%
- East Frontier Limited 100%
- Stratum Limited 100%
Significant events
- “On 10 February 2026, the Company raised £350,000 from existing investors through a subscription for 1,000,000 new ordinary shares at a price of 25 pence per Subscription Share.”
- “The Company also issued £100,000 of PIK Convertible Bonds to a single long-standing and supportive shareholder. The PIK Convertible Bonds are debt instruments, have a 12% annual coupon payable in the form of new payment-in-kind (PIK) bonds (non-cash), are convertible into ordinary shares at a price of 32.5 pence per share and are redeemable on the 31 December 2027.”
- “On 12 March 2026, the Company announced that it had issued £150,000 of convertible loan notes ("CLNs") with a maturity date 31 December 2027 to a long-standing shareholder. The CLNs are mandatorily convertible into Ordinary Shares of 19 pence each in the Company at a price of 25 pence per Ordinary Share on or before the maturity date if zero coupons, and are redeemable by the Company (in part or at any time prior to their maturity date, subject to notice.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MSP CORPORATE SERVICES LIMITED | Corporate Secretary | 2021-07-15 | — | — |
| BRAY, Charles Grant | Director | 2018-12-18 | Aug 1967 | British |
| MARAIS, Devon Jacques | Director | 2018-08-03 | Jan 1995 | South African |
| MASTERTON-HUME, Alister Charles | Director | 2022-10-24 | Jan 1988 | British,Australian |
| PEZESHKI, Kasra Seyed | Director | 2022-10-24 | Oct 1983 | Swedish |
| ROLLASON, Simon John | Director | 2021-06-14 | May 1966 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| INTERNATIONAL REGISTRARS LIMITED | Corporate Secretary | 2011-01-18 | 2021-05-18 |
| CLARK, Brett David | Director | 2017-02-21 | 2017-05-31 |
| EVANS, Alyn | Director | 2012-06-12 | 2016-03-14 |
| MOLONEY, Shane Gerard | Director | 2011-01-18 | 2014-12-01 |
| NELSON, Nicholas Christian Paul | Director | 2011-01-18 | 2019-06-21 |
| RETTER, Simon James | Director | 2015-06-05 | 2023-03-17 |
| STATEN, Michael Paul | Director | 2018-12-18 | 2021-02-01 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 154 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-06-24 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-25 | AA | accounts | Accounts with accounts type group | |
| 2026-06-17 | SH01 | capital | Capital allotment shares | |
| 2026-06-04 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-03-09 | SH01 | capital | Capital allotment shares | |
| 2026-02-20 | SH01 | capital | Capital allotment shares | |
| 2026-02-19 | AUD | auditors | Auditors resignation company | |
| 2025-12-10 | SH01 | capital | Capital allotment shares | |
| 2025-10-24 | SH01 | capital | Capital allotment shares | |
| 2025-06-24 | RESOLUTIONS | resolution | Resolution | |
| 2025-06-02 | AA | accounts | Accounts with accounts type group | |
| 2025-05-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-05-20 | AD02 | address | Change sail address company with old address new address | |
| 2025-05-19 | CH01 | officers | Change person director company with change date | |
| 2025-05-16 | CH01 | officers | Change person director company with change date | |
| 2025-05-16 | AUD | auditors | Auditors resignation company | |
| 2025-02-14 | SH01 | capital | Capital allotment shares | |
| 2024-11-22 | SH01 | capital | Capital allotment shares | |
| 2024-10-10 | SH01 | capital | Capital allotment shares | |
| 2024-08-01 | SH01 | capital | Capital allotment shares | |
| 2024-08-01 | SH02 | capital | Capital alter shares consolidation |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 10
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.