CORNISH LITHIUM PLC
A public limited company backed by institutional investors, it focuses on exploring and developing lithium extraction projects from hard rock and geothermal waters in Cornwall to supply the domestic battery industry.
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Cash
£14M
+102.3% vs 2023
Net assets
£8.6M
-61.5% vs 2023
Employees
99
+45.6% vs 2023
Profit before tax
-£16M
-87.4% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Annual accounts overdue
Due 2026-06-30.
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | — | — | — | |
| Operating profit | -£8,395,876 | -£11,356,746 | -35.3% | |
| Profit before tax | -£8,774,772 | -£16,445,189 | -87.4% | |
| Net profit | -£8,593,061 | -£16,239,544 | -89% | |
| Cash | £6,887,007 | £13,930,260 | +102.3% | |
| Total assets less current liabilities | — | — | — | |
| Net assets | £22,288,604 | £8,591,118 | -61.5% | |
| Equity | £22,288,604 | £8,591,118 | -61.5% | |
| Average employees | 68 | 99 | +45.6% | |
| Wages | £5,340,404 | £6,307,061 | +18.1% | |
| Directors' remuneration | £1,039,004 | £1,192,900 | +14.8% |
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 |
|---|---|---|---|
| Gearing (liabilities / total assets) | 44.7% | 86.9% | |
| Current ratio | 2.35x | 2.19x | |
| Interest cover | -10.56x | -2.03x |
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.
Name history
Renamed 1 time since incorporation
- CORNISH LITHIUM PLC 2022-11-21 → present
- CORNISH LITHIUM LTD 2016-05-28 → 2022-11-21
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PKF Francis Clark
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Financial Statements have been prepared on a going concern basis which assumes the continuity of normal business activity and the realisation of assets and settlement of liabilities in the normal course of business. ... As such it has adopted the going concern basis of accounting in preparing these Financial Statements.”
Group structure
- CORNISH LITHIUM PLC · parent
- Geocubed Limited 100%
- Cornish Lithium G5 Limited 100%
- Cornish Lithium Geothermal Limited 100%
- Cornish Lithium Land Holdings Limited 100%
- Cornish Lithium Hard Rock Limited 100%
- Elevate Minerals Limited 100%
- Ecometals Cornwall Limited 100%
Significant events
- “In October 2024, Cornish Lithium opened the UK's first low-emission, lithium hydroxide Demonstration Plant at the Trelavour Hard Rock Project, marking a significant milestone in the Company's development.”
- “In September 2024, the UK Government granted a Section 35 direction that the Trelavour Hard Rock Project is of national significance.”
- “As announced in May 2025, the parent company, Cornish Lithium Plc, acquired the patents and intellectual property rights associated with the Lepidico processing technology.”
- “In February 2025, the Company received approval from Cornwall Council for planning permission to develop a new state-of-the-art lithium facility at Cornish Lithium's Cross Lanes Project.”
- “In August 2023, the Company secured a landmark £53.6m funding package from the National Wealth Fund, EMG and TechMet.”
- “The £53.6m funding was closely followed by a hugely successful crowdfunding campaign which raised an additional £5.1m.”
- “In October 2024, the Company published its Policy Manifesto, outlining how and why the UK must secure domestic supplies of sustainable lithium.”
- “The Company has further strengthened its Board with the appointment of Gary Steven as a Non-Executive Director. Former director Adam Howard stepped down and Keith Liddell rejoined the Board.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HUSSAIN, Quamail | Secretary | 2019-03-29 | — | — |
| AIRNES, Jamie | Director | 2025-10-15 | Apr 1974 | British |
| BLAS, Janet | Director | 2022-04-08 | Sep 1981 | British |
| CASTLE, Darryll John | Director | 2023-09-14 | Dec 1968 | South African |
| GARDNER-BOND, Simon Alan | Director | 2021-12-07 | Mar 1976 | British |
| GOKOOL, Varshan Baboolal | Director | 2022-04-05 | Jun 1976 | British |
| ISHERWOOD, John Mark | Director | 2025-12-22 | Aug 1972 | British |
| LIDDELL, Keith | Director | 2024-02-28 | Dec 1958 | British |
| RAYMOND, John | Director | 2023-11-30 | Aug 1970 | American |
| STEVEN, Gary Martin | Director | 2024-12-03 | Mar 1977 | British |
| WRATHALL, Jeremy Bruce Earl | Director | 2016-08-05 | May 1963 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MCMELLON, Chris John, Mr. | Secretary | 2018-03-22 | 2019-03-29 |
| COCKERILL, Ian David | Director | 2022-04-06 | 2024-02-28 |
| HOWARD, Adam James | Director | 2023-11-30 | 2024-12-03 |
| LIDDELL, Keith | Director | 2017-08-07 | 2023-06-08 |
| LINFIELD, Derek Norman | Director | 2016-09-22 | 2023-11-30 |
| WHITESIDE, James Robert | Director | 2023-11-30 | 2025-12-08 |
| WRATHALL, Louise Elizabeth | Director | 2016-05-28 | 2022-03-25 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| National Wealth Fund Limited | Corporate entity | Shares 25–50% | 2025-10-24 | Active |
| Mr Jeremy Bruce Earl Wrathall | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2016-08-05 | Ceased 2020-10-20 |
| Mrs Louise Elizabeth Wrathall | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2016-05-28 | Ceased 2020-10-20 |
Filing timeline
Last 20 of 164 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-10-14 MA Memorandum articles
- 2025-10-14 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-22 | CH03 | officers | Change person secretary company with change date | |
| 2026-03-31 | SH01 | capital | Capital allotment shares | |
| 2026-03-05 | SH01 | capital | Capital allotment shares | |
| 2026-01-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-19 | SH01 | capital | Capital allotment shares | |
| 2025-12-08 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-25 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-11-25 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2025-11-20 | SH01 | capital | Capital allotment shares | |
| 2025-11-19 | SH01 | capital | Capital allotment shares | |
| 2025-11-13 | SH01 | capital | Capital allotment shares | |
| 2025-11-06 | SH01 | capital | Capital allotment shares | |
| 2025-10-30 | SH01 | capital | Capital allotment shares | |
| 2025-10-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-15 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-14 | MA | incorporation | Memorandum articles | |
| 2025-10-14 | RESOLUTIONS | resolution | Resolution | |
| 2025-10-13 | SH01 | capital | Capital allotment shares | |
| 2025-10-10 | SH01 | capital | Capital allotment shares | |
| 2025-08-06 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 11
- Officers appointed
- 2
- Officers resigned
- 1
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.