SGZ CONONISH LIMITED
SGZ Cononish Limited is the operating company for the Cononish Gold and Silver Mine in Scotland, recently acquired by the South African mining technology group Acrux Sorting Technology following the administration of its former parent, Scotgold Resources.
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Cash
£115K
-80.6% vs 2023
Net assets
-£33M
-16.9% vs 2023
Employees
36
-62.5% vs 2023
Profit before tax
-£5.4M
+69% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Annual accounts overdue
Due 2026-06-30.
-
Audit opinion: Disclaimer of opinion
Latest auditor's report carried a non-clean opinion.
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1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
2-year trend · vs Basic Materials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-06-30
| Metric | Trend | 2023-06-30 | 2024-06-30 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £8,568,828 | £3,916,790 | -54.3% | |
| Operating profit | -£15,835,681 | -£3,677,430 | +76.8% | |
| Profit before tax | -£17,519,937 | -£5,431,742 | +69% | |
| Net profit | -£17,341,679 | -£5,334,917 | +69.2% | |
| Cash | £589,835 | £114,599 | -80.6% | |
| Total assets less current liabilities | £3,206,779 | -£13,438,450 | -519.1% | |
| Net assets | -£28,272,955 | -£33,062,286 | -16.9% | |
| Equity | -£28,272,955 | -£33,062,286 | -16.9% | |
| Average employees | 96 | 36 | -62.5% | |
| Wages | — | — | — | |
| Directors' remuneration | £155,000 | £117,320 | -24.3% |
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 | 2023-06-30 | 2024-06-30 |
|---|---|---|---|
| Operating margin | -184.8% | -93.9% | |
| Net margin | — | -136.2% | |
| Return on capital employed | -493.8% | — | |
| Current ratio | 0.13x | 0.04x | |
| Interest cover | -9.30x | -2.05x |
Margins divide P&L lines by turnover. 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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Auditor
- Azets Audit Services
- Audit opinion
- Disclaimer of opinion
- Going concern
- Affirmed
“Based on the parent company's confirmed support and the directors' review of forecasts, the financial statements have been prepared on a going concern basis.”
Significant events
- “On 11 September 2023, Scotgold Resources Limited, the parent company of the company at that date, was suspended from trading on the Alternative Investment Market ("AIM") of the London Stock Exchange.”
- “On 28 September 2023, the operations of the company were placed on a care and maintenance basis.”
- “Scotgold Resources Limited entered administration on 24 November 2023 and its AIM listing was cancelled with effect from 27 December 2023.”
- “On 12 January 2024, Bridge Barn Limited replaced Scotgold Resources Limited as the parent company of the company.”
- “On 31 January 2024, 24,560 ordinary shares were issued for proceeds of £245,586.”
- “On 6 May 2024, a further 8,334 ordinary shares were issued for proceeds of £300,000.”
- “In July 2024, an item of mobile plant and certain vehicles financed under hire purchase agreements were repossessed.”
- “On 6 March 2025, Acrux Holdings Limited (subsequently renamed Acrux Gold Limited) acquired the entire issued share capital of the company.”
- “On 21 July 2025, the Strathfillan Community Development Trust agreed to the termination of the donation agreement.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| STRONACHS SECRETARIES LIMITED | Corporate Secretary | 2026-02-22 | — | — |
| BROWNE, Sean Christopher | Director | 2025-03-06 | Jun 1976 | South African |
| POTGIETER, Karel Frederik Gottlieb | Director | 2025-03-06 | Mar 1983 | South African |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DAY, Phillip Edward | Director | 2021-04-01 | 2023-06-09 |
| DUFFY, Sean Joseph | Director | 2022-07-07 | 2023-12-14 |
| GRAY, Richard Quentin | Director | 2017-06-21 | 2022-03-16 |
| HABIB, Adam Salim | Director | 2023-12-14 | 2024-09-23 |
| LE ROUX, Nathaniel Bernard | Director | 2017-06-21 | 2023-11-08 |
| SMITH, Paul Richard | Director | 2024-11-12 | 2025-03-06 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Acrux Gold Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2025-03-06 | Active |
| Mr Nathaniel Bernard Le Roux | Individual | Shares 25–50%, Voting 25–50% | 2017-06-21 | Ceased 2025-03-06 |
Filing timeline
Last 20 of 42 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-03 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2025-10-24 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-09-30 | AA | accounts | Accounts with accounts type full | |
| 2025-09-29 | AA | accounts | Accounts with accounts type full | |
| 2025-09-02 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-06-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-05-29 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-03-17 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-14 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-03-13 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-03-13 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-13 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-12 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-03-11 | SH02 | capital | Capital alter shares subdivision | |
| 2025-03-05 | SH01 | capital | Capital allotment shares | |
| 2025-03-05 | SH01 | capital | Capital allotment shares | |
| 2025-02-21 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-02-21 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-11-22 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-22 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 3
- Officers appointed
- 1
- 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.