DE BEERS UK LIMITED

• ⚠

  Material uncertainty over going concern

  The Directors have therefore considered the circumstances described above and consider the potential change in ownership of the Company constitutes material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the entity was unable to continue as a going concern.

1. DE BEERS UK LIMITED 2008-08-01 → present
2. DIAMOND TRADING COMPANY LIMITED(THE) 1986-09-10 → 2008-08-01

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

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. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors have therefore considered the circumstances described above and consider the potential change in ownership of the Company constitutes material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the entity was unable to continue as a going concern.”

Group structure

1. DE BEERS UK LIMITED · parent
   1. Lightbox Jewelry Ltd 100% · United Kingdom
   2. De Beers Global Sightholder Sales (Pty) Limited 100% · Botswana
   3. Forevermark Limited 100% · United Kingdom
   4. Gemfair Limited 100% · United Kingdom
   5. De Beers Namibia Holdings (Pty) Limited 100% · Namibia
   6. De Beers Auctions Botswana (Pty) Limited 100% · Botswana
   7. Forevermark Marketing (Shanghai) Company Limited 100% · China
   8. Diamond Trading Company (Botswana) Proprietary Limited 50% · Botswana

Significant events

• “On 25 February 2025, the Government of the Republic of Botswana and De Beers signed and completed on the formal agreements on establishing a new 10-year sales agreement (through to 2035) for Debswana's rough diamond production and extending Debswana's mining licences by 25 years (through to 2054), with the terms being substantively aligned with the Heads of Terms agreed on 30 September 2023.”
• “On 8 January 2025 the Company entered into a Deed of Substitution, whereby the Company has agreed with Cheviot Holdings Limited and the Trustee of the Intersea Pension Trust to be substituted as the Principal Employer of the Trust in place of Cheviot Holdings. The consideration received (£6,850 thousand) by the Company was equivalent to the Scheme deficit as at 31 December 2024 and three years' worth of administrative expenses to enable the ongoing administration of the Trust.”
• “Prior to the year ended 31 December 2024, the Company is deemed to have received distributions as a result of the surrender of tax losses within the UK tax group for nil consideration. The Company has become aware of circumstances where such distributions may have taken place otherwise than in accordance with UK company law as a result of the distributing company not having an appropriate level of distributable reserves. As of the date of these financial statements, the distributing company is in the process of assessing the optimal strategy to establish an appropriate level of distributable reserves. The distributing company also intends to arrange for a release of liability for the Company from any claim the distributing company may have for repayment. These actions are based on advice provided by the Company's lawyers.”

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

2

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.

• Turnover

  -24.3%

  £262,659,007 → £198,804,299

• Cash

  -67.3%

  £979,244 → £320,237

• Net assets

  -11%

  £929,932,543 → £827,993,328

• Employees

  -3.4%

  324 → 313

• Operating profit

  -145.8%

  -£221,046,701 → -£543,433,655

• Profit before tax

  -352.7%

  -£111,854,707 → -£506,375,093

• Wages

  -1.3%

  £40,688,658 → £40,162,342

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