KENDRICK RESOURCES PLC

• ⚠

  Material uncertainty over going concern

  However, the Group has not reached a contractual agreement to raise funds at the date of this report, and this represents a material uncertainty that the Group will be able to successfully raise additional funds and in the timeframe required. This may cast significant doubt on the Group's and Company's ability to continue as a going concern for the period to 31 July 2027.

1. KENDRICK RESOURCES PLC 2021-02-27 → present
2. BMR GROUP PLC 2016-02-10 → 2021-02-27
3. BMR MINING PLC 2015-05-28 → 2016-02-10
4. BERKELEY MINERAL RESOURCES PLC 2008-03-03 → 2015-05-28
5. TECTEON PLC 2001-09-14 → 2008-03-03
6. STARTUP STATION PLC 2000-04-28 → 2001-09-14
7. DOMINION ENERGY PLC 1994-03-28 → 2000-04-28
8. ASHCHURCH RESOURCES PLC 1991-11-25 → 1994-03-28
9. ASHCHURCH EXPLORATION PLC 1989-07-05 → 1991-11-25

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

IFRS

Reporting scope

Consolidated group

Auditor

RPG Crouch Chapman LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, the Group has not reached a contractual agreement to raise funds at the date of this report, and this represents a material uncertainty that the Group will be able to successfully raise additional funds and in the timeframe required. This may cast significant doubt on the Group's and Company's ability to continue as a going concern for the period to 31 July 2027.”

Group structure

1. KENDRICK RESOURCES PLC · parent
   1. Northern X Scandinavia AB 100% · Sweden · Base Metals Exploration
   2. Northern X Finland Oy 100% · Finland · Base Metals Exploration
   3. Caledonian Minerals AS 100% · Norway · Base Metals Exploration
   4. EV Metals AB 100% · Sweden · Base Metals Exploration

Significant events

• “During the year the Company announced on 29 September 2025 the exercise of its option to enter into a joint venture agreement for the exploration of and if appropriate development of the Blue Fox Copper project located in the Northwestern region of Zambia”
• “As a post balance sheet event, we announced the signing of a binding and exclusive agreement to enter into an option over rare earth licences in Namibia, namely EPL 4458 and EPL 6691. ... On 23 February 2026, the company announced that it had exercised its option and entered into a definitive agreement with Bonya Exploration Pty Namibia ("Bonya").”
• “On 25 February 2025 the Company announced it had raised \u00a3107,500 before expenses at 0.25 pence per Ordinary Share through the issue of 43,000,000 new Ordinary Shares”
• “Post the year end the Company has raised \u00a31,587,000 by a combination of the issue of shares and convertible loan notes as detailed in note 23 (post balance sheet events) to the Accounts”
• “As announced on 22 January 2026 the Company entered into a binding and exclusive Option Agreement valid until 19 May 2026 to acquire not less than 70% interest on terms to be agreed with Bonya Exploration Pty Namibia ("Bonya") to evaluate EPL4458 and EPL 6691 licenses”
• “On 10 February 2026 the Company secured a \u00a3337,000 unsecured convertible loan facility... and the long term shareholder Sanderson Capital Partners Ltd ("Sanderson") agreed to extend the maturity date for the \u00a3375,000 drawdown under the unsecured convertible loan funding facility... and to advance a further \u00a3250,000 under the Facility”
• “It was announced on 23 March 2026 the Company raised \u00a31,000,000 before expenses... through the issue of 38,461,537 new Ordinary Shares of \u00a30.0003 each”

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

Filings

5

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

  —

  Not reported

• Cash

  -62.8%

  £17,551 → £6,525

• Net assets

  -192%

  £1,320,795 → -£1,215,036

• Employees

  0%

  5 → 5

• Operating profit

  +24.6%

  -£3,430,770 → -£2,586,568

• Profit before tax

  +24.3%

  -£3,437,121 → -£2,603,425

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