SWITCH METALS PLC
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Cash
£70K
-91.1% vs 2024
Net assets
£29K
-96.3% vs 2024
Employees
3
-25% vs 2024
Profit before tax
-£831K
-200.4% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Annual accounts overdue
Due 2026-06-30.
Net assets
4-year trend · vs Basic Materials median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2022-01-31 | 2023-01-31 | 2024-01-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | — | |
| Operating profit | — | — | -£280,909 | -£830,507 | -195.6% | |
| Profit before tax | — | — | -£276,484 | -£830,507 | -200.4% | |
| Net profit | £166,803 | £251,349 | -£276,484 | -£830,507 | -200.4% | |
| Cash | — | — | £781,872 | £69,868 | -91.1% | |
| Total assets less current liabilities | — | — | £781,876 | £29,159 | -96.3% | |
| Net assets | — | — | £781,876 | £29,159 | -96.3% | |
| Equity | — | — | £781,876 | £29,159 | -96.3% | |
| Average employees | 3 | 3 | 4 | 3 | -25% | |
| Wages | — | — | £34,033 | £47,556 | +39.7% | |
| Directors' remuneration | — | — | £112,673 | £103,330 | -8.3% |
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 | 2022-01-31 | 2023-01-31 | 2024-01-31 | 2024-12-31 |
|---|---|---|---|---|---|
| Return on capital employed | — | — | -35.9% | — | |
| Gearing (liabilities / total assets) | — | — | 4.2% | 94.3% | |
| Current ratio | — | — | 23.67x | 1.06x |
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 2 times since incorporation
- SWITCH METALS PLC 2025-04-01 → present
- ONEIRO ENERGY PLC 2021-05-18 → 2025-04-01
- ONEIRO ENERGY LTD 2021-01-18 → 2021-05-18
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Royce Peeling Green Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Following the completion of the RTO and attendant placing, the Directors are satisfied that the Company has the ability to trade solvently for a period of at least 12 months from the date of signing of these financial statements. These financial statements have therefore been prepared on the going concern basis.”
Group structure
- SWITCH METALS PLC · parent
- Switch Metals Côte d'Ivoire Sarl 100%
- Switch Metals
Significant events
- “Loss for the Period of £831k (Loss for the 12 months ended 31 January 2024: £276k)”
- “Cash and cash equivalents of £70k at 31 December 2024 (£782k as at 31 January 2024)”
- “In June, we agreed heads of terms for Oneiro Energy plc to acquire Switch CDI, which was a subsidiary of the Mauritius incorporated investment company Switch Metals ('Switch Mauritius')”
- “In August, a US$0.5m working capital loan facility was provided by Oneiro Energy to Switch CDI.”
- “In December, the Company announced that it had entered into agreements to raise, in total, £275,000 through Loan Funds.”
- “On 3 April 2025 the Company acquired Switch CDI, having raised c. £2 million at a post-money value of approximately £9m.”
- “In April 2025, Oneiro Energy plc was renamed Switch Metals plc (LSE:SWT) and announced the completion of the Acquisition of Switch CDI and admission to AIM.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SILVERTREE PARTNERS LLP | Corporate Secretary | 2023-11-01 | — | — |
| AKUESON-GANNYI, Karl Willis | Director | 2025-04-03 | Oct 1986 | Ivorian |
| DOUMBIA, Mamadou | Director | 2025-04-03 | Aug 1966 | Ivorian |
| MURCIA, Didier | Director | 2025-04-03 | Nov 1962 | Australian |
| TREACY, John Michael | Director | 2022-11-14 | Aug 1981 | Irish |
| YEO, Andrew Robert | Director | 2023-09-05 | Mar 1963 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BRISTOW, Simon Mark | Secretary | 2021-04-15 | 2023-11-01 |
| MURRAY, Peter Roderick Gordon | Secretary | 2021-01-18 | 2023-04-28 |
| DZIUBINSKI, Adam Michael | Director | 2021-01-18 | 2022-10-09 |
| JONES, Robert Francis Edwin | Director | 2021-01-18 | 2024-09-06 |
| MURRAY, Peter Roderick Gordon | Director | 2021-01-18 | 2024-09-06 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Peter Roderick Gordon Murray | Individual | Shares 25–50%, Voting 25–50% | 2021-01-18 | Ceased 2022-10-24 |
| Mr Robert Francis Edwin Jones | Individual | Shares 25–50%, Voting 25–50% | 2021-01-18 | Ceased 2022-10-24 |
| Mr Adam Michael Dziubinski | Individual | Shares 25–50%, Voting 25–50% | 2021-01-18 | Ceased 2022-10-24 |
Filing timeline
Last 20 of 61 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-08-01 RESOLUTIONS Resolution
- 2025-04-01 CERTNM Certificate change of name company
- 2024-07-11 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-07 | SH01 | capital | Capital allotment shares | |
| 2025-09-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-01 | SH01 | capital | Capital allotment shares | |
| 2025-08-01 | RESOLUTIONS | resolution | Resolution | |
| 2025-07-07 | AA | accounts | Accounts with accounts type full | |
| 2025-05-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-05-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-22 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-22 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-16 | SH01 | capital | Capital allotment shares | |
| 2025-04-01 | CERTNM | change-of-name | Certificate change of name company | |
| 2025-03-24 | AA01 | accounts | Change account reference date company previous shortened | |
| 2025-03-12 | SH02 | capital | Capital alter shares subdivision | |
| 2024-09-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-06 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-11 | RESOLUTIONS | resolution | Resolution | |
| 2024-07-08 | AA | accounts | Accounts with accounts type full | |
| 2024-05-13 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-01-17 | AD01 | address | Change registered office address company with date old address new address |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 4
- 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.