PHIGOLD UK PLC

• ⚠

  Material uncertainty over going concern

  The company reported a loss of £1,235,798 (2023: £1,344,123) for the year, with net liabilities of £863,234 (2023: net assets of £372,564) as of 31 December 2024. This includes receivables of £7,633,770 (2023: £7,503,375) from a subsidiary. However, there is uncertainty regarding the recoverability of these amounts. These factors present a material uncertainty regarding the company's ability to continue as a going concern.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  —

  Not reported

• Cash

  -48.2%

  £12,804 → £6,630

• Net assets

  -331.7%

  £372,564 → -£863,234

• Employees

  0%

  4 → 4

• Operating profit

  +92.2%

  -£178,916 → -£14,009

• Profit before tax

  +8.1%

  -£1,344,123 → -£1,235,798

• Wages

  +620%

  £5,000 → £36,000

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

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.

1. PHIGOLD UK PLC 2016-12-09 → present
2. PHIGOLD UK LIMITED 2016-09-21 → 2016-12-09

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Vision Consulting Accountants Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The company reported a loss of £1,235,798 (2023: £1,344,123) for the year, with net liabilities of £863,234 (2023: net assets of £372,564) as of 31 December 2024. This includes receivables of £7,633,770 (2023: £7,503,375) from a subsidiary. However, there is uncertainty regarding the recoverability of these amounts. These factors present a material uncertainty regarding the company's ability to continue as a going concern.”

Group structure

1. PHIGOLD UK PLC · parent
   1. Phigold Metallic Ore Inc. 40% · Philippines · Mining of other non-ferrous metal ores

Significant events

• “Post year end events: We are now facing a stable gold price, stability in our management and we now see the prospect of making progress in our mining activities in the coming period. In June 2019 we completed an update of our Competent person's Report and our Barobo asset is showing a net present value in excess at $100m over a 15-year project life cycle at a 15% discount rate. The price of gold has increased threefold since this report. We are now in the process of getting a Qualified Person Report to prepare us for fundraising. The Directors believe that the Company will achieve the funding required to obtain a commercial mining license and to commence commercial mining operations.”

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

Filings

6

last 12 months

Capital events

0

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.