SWITCH METALS PLC

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

  -91.1%

  £781,872 → £69,868

• Net assets

  -96.3%

  £781,876 → £29,159

• Employees

  -25%

  4 → 3

• Operating profit

  -195.6%

  -£280,909 → -£830,507

• Profit before tax

  -200.4%

  -£276,484 → -£830,507

• Wages

  +39.7%

  £34,033 → £47,556

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. SWITCH METALS PLC 2025-04-01 → present
2. ONEIRO ENERGY PLC 2021-05-18 → 2025-04-01
3. ONEIRO ENERGY LTD 2021-01-18 → 2021-05-18

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

1. SWITCH METALS PLC · parent
   1. Switch Metals Côte d'Ivoire Sarl 100% · Côte d'Ivoire · mining exploration company focused on technology and battery minerals
   2. Switch Metals · Mauritius · investment company

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

Filings

7

last 12 months

Capital events

4

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.