GEMFIELDS LIMITED — The Accounts

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Next accounts due

2026-09-30 (in 4mo)

Last filed for 2024-12-31

Confirmation statement due

2026-05-28 (this month)

Last made up 2025-05-14

Watchouts

1 item

Cash

£2M

-61.8% vs 2023

Net assets

£200M

-8.2% vs 2023

Employees

0% vs 2023

Profit before tax

-£18M

-226.2% vs 2023

Watchouts

Facts from the Companies House register and the latest accounts — not a rating

Material uncertainty over going concern

The potential covenant breach combined with the risk of overdraft facilities becoming unavailable in an uncertain trading environment in the downside scenario of reduced revenues and increased costs indicate a material uncertainty exists that may cast significant doubt over the Group's ability to continue as a Going Concern.

Name history

Renamed 2 times since incorporation

GEMFIELDS LIMITED 2018-01-16 → present
GEMFIELDS PLC 2009-02-19 → 2018-01-16
GEMFIELDS RESOURCES PLC 2004-05-14 → 2009-02-19

Net assets

2-year trend · vs Basic Materials median

GEMFIELDS LIMITED·Basic Materials median · n=623

Accounts

2-year trend · latest reflected 2024-12-31

Metric	2023-12-31	2024-12-31
Turnover	£21,131,208	£17,641,216
Operating profit	£14,006,672	-£17,805,782
Profit before tax	£14,141,586	-£17,846,553
Net profit	£11,931,060	-£17,835,434
Cash	£4,000,000	£1,526,316
Total assets less current liabilities	£218,509,266	£202,103,781
Net assets	£218,314,307	£200,478,873
Equity	£218,314,307	£200,478,873
Average employees	35	35
Wages	—	—

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

Ratios

Computed from the line items above — sparklines read oldest → newest

Ratio	2023-12-31	2024-12-31
Operating margin	66.3%	-100.9%
Net margin	56.5%	-101.1%
Return on capital employed	6.4%	-8.8%
Gearing (liabilities / total assets)	8.0%	7.2%
Current ratio	1.34x	1.38x
Interest cover	161.50x	-60.81x

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.

Audit & accounting basis

Accounting basis: IFRS
Reporting scope: Standalone (parent only)
Auditor: Ernst & Young LLP
Audit opinion: Unqualified (clean)
Going concern: Material uncertainty disclosed
“The potential covenant breach combined with the risk of overdraft facilities becoming unavailable in an uncertain trading environment in the downside scenario of reduced revenues and increased costs indicate a material uncertainty exists that may cast significant doubt over the Group's ability to continue as a Going Concern.”

Group structure

GEMFIELDS LIMITED · parent
1. Campos de Joia, Limitada 100% · Mozambique · Gemstone mining and exploration
2. Clearwater Resources (Private) Limited¹ 100% · Zimbabwe · Gemstone mining and exploration
3. Eastern Ruby Mining Limitada 80% · Mozambique · Gemstone trading
4. Fabergé (UK) Limited 100% · United Kingdom · Advisory and administrative support in connection with the Fabergé UK activities
5. Fabergé Hospitality Limited 100% · British Virgin Islands · Dormant company
6. Fabergé Inc 100% · USA · Retail activity and promotion of the Fabergé collection of jewellery and watches
7. Fabergé Limited 100% · Caymann Islands · Holding company
8. Fabergé Suisse SA 100% · Switzerland · Retail activity and promotion of the Fabergé collection of jewellery and watches
9. F1842 Fine Jewellery Trading LLC 100% · United Arab Emirates · Retail activity and promotion of the Fabergé collection of jewellery and watches
10. Florescer Farming S.A. 97.9% · Mozambique · Agriculture
11. G-Chime Solutions Limited 100% · United Kingdom · Software development
12. Gemdustry Limited 100% · United Kingdom · Holding company
13. Gemfields BVI Limited 100% · British Virgin Islands · Holding company
14. Gemfields Canada Inc 100% · Canada · Holding company
15. Gemfields CdJ Mauritius 100% · Mauritius · Holding and administrative services company
16. Gemfields DMCC 100% · United Arab Emirates · Gemstone sales and marketing
17. Gemfields Foundation 100% · United Kingdom · Charitable company
18. Gemfields Holdings Zambia Limited 100% · Zambia · Non-trading
19. Gemfields India Pvt Limited 100% · India · Gemstone sales and marketing
20. Gemfields Mauritius Limited 100% · Mauritius · Holding and administrative services company
21. Gemfields Mining Limited 100% · Zambia · Gemstone mining and exploration
22. Gemfields Madagascar Holding Limited 100% · Mauritius · Holding company
23. Gemfields Singapore Pte Limited 100% · Singapore · Gemstone auctions
24. Gemfields South Africa (Pty) Limited 100% · South Africa · Gemstone sales and marketing
25. Gemholds Ethiopia Limited 100% · United Kingdom · Holding company
26. Gemhouse Mining Zambia Limited 100% · Zambia · Non-trading
27. G-Trac Knowledgebase Systems Limited 100% · United Kingdom · Cloud-based, business management systems, software development
28. Hagura Mining Limited 100% · United Kingdom · Holding and administrative services company
29. Kagem Mining Limited 75% · Zambia · Gemstone mining, exploration and processing
30. Megaruma Mining Limitada 75% · Mozambique · Gemstone mining and exploration
31. Montepuez Ruby Mining Limitada 75% · Mozambique · Gemstone mining and exploration
32. Nairoto Mining 01, Limitada 75% · Mozambique · Gemstone mining and exploration
33. Nairoto Mining 02, Limitada 75% · Mozambique · Gemstone mining and exploration
34. Nairoto Mining 03, Limitada 75% · Mozambique · Gemstone mining and exploration
35. Nairoto Mining 04, Limitada 75% · Mozambique · Gemstone mining and exploration
36. Nairoto Mining 05, Limitada 75% · Mozambique · Gemstone mining and exploration
37. Nairoto Mining 06, Limitada 75% · Mozambique · Gemstone mining and exploration
38. Nairoto Mining 07, Limitada 75% · Mozambique · Gemstone mining and exploration
39. Nairoto Mining 08, Limitada 75% · Mozambique · Gemstone mining and exploration
40. Nairoto Mining 09, Limitada 75% · Mozambique · Gemstone mining and exploration
41. Nairoto Mining 11, Limitada 75% · Mozambique · Gemstone mining and exploration
42. Nairoto Mining 16, Limitada 75% · Mozambique · Gemstone mining and exploration
43. Nairoto Mining 18, Limitada 75% · Mozambique · Gemstone mining and exploration
44. Nairoto Resources Holdings Ltd 100% · Mauritius · Holding and administrative services company
45. Nairoto Resources Limitada 75% · Mozambique · Gemstone mining and exploration
46. Novo Campos De Joia 1 100% · Mozambique · Gemstone mining and exploration
47. Novo Campos De Joia 2 100% · Mozambique · Gemstone mining and exploration
48. Novo Campos De Joia 3 100% · Mozambique · Gemstone mining and exploration
49. Novo Megaruma Ltda 100% · Mozambique · Gemstone mining and exploration
50. Oriental Mining SARL 100% · Madagascar · Gemstone mining and exploration
51. Shakgem Gemstones Mining Plc 90% · Ethiopia · Gemstone mining and exploration
52. Web Gemstone Mining plc 75% · Ethiopia · Gemstone mining and exploration
53. Chila Gemstone Mining plc 90% · Ethiopia · Gemstone mining and exploration

Significant events

“A full slate of emerald and ruby auctions was conducted in 2024; however, softer auction results in late 2024, driven by a disturbed emerald market, lower premium production, and weaker global luxury demand, prompted cost-cutting measures.”
“On 11 August 2025, the Group announced a fully underwritten rights issue ('Proposed Rights Issue') to raise approximately USD30 million, which was successfully completed on 13 June 2025, to address near-term working capital needs.”
“All of these developments coincide with significant capital expenditure on the ongoing construction of MRM's second processing plant, marking Gemfields' largest investment to date in production scale within the coloured gemstone industry.”
“On 11 August 2025, Gemfields announced that it had signed an agreement to sell its entire interest in wholly owned Fabergé Limited ('Fabergé')... The transaction, completed on 29 August 2025, included USD 44.7 million received after allowable leakage deductions, with the remaining USD 5.0 million to be receivable via quarterly royalties equal to 8% of Fabergé's revenue.”
“In November 2024, Gemdustry's sole investment, GemCloud was voted into liquidation by the board, with a liquidator formally appointed in January 2025. Gemdustry has no plans for future investment in Gemcloud, and does not expect to receive any proceeds from the liquidation process. As such, the investment in has been fully impaired.”

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

People

6 active · 27 resigned

Name	Role	Appointed	Born	Nationality
HEWITT, Toby Edward George	Secretary	2017-11-30	—	—
BANKS, Adrian	Director	2017-08-04	Jul 1978	South African,British
GILBERTSON, Sean Thomas	Director	2008-05-13	Jun 1972	British
LOVETT, David John	Director	2018-04-01	Nov 1982	British
PARIKSHYA, Kartikeya	Director	2017-08-04	Mar 1964	Indian
SURESH, Chandana Venkata	Director	2017-08-04	Oct 1960	Indian

Show 27 resigned officers

Name	Role	Appointed	Resigned
BLAS, Janet	Secretary	2013-10-03	2014-09-22
DUNHAM, Martin	Secretary	2004-06-11	2005-02-07
JAMES, Richard Paul	Secretary	2005-03-15	2009-12-31
SHETTY, Devidas	Secretary	2010-01-01	2013-01-30
SUMMERS, Mark Robert	Secretary	2013-01-30	2013-10-03
WILLIAMS, Jesujuwonlo	Secretary	2014-09-22	2017-07-28
SCRIP SECRETARIES LIMITED	Corporate Secretary	2004-05-14	2004-06-11
BEHNKEN, Finn Stuart	Director	2008-05-13	2017-07-28
BOYCE, Janet	Director	2016-11-01	2017-07-28
CHITALU, Valentine	Director	2005-09-01	2008-05-12
CHRYSANTHOU, Chrysanthos Theoclis	Director	2004-05-14	2004-06-11
CLARKE, Jeremy	Director	2005-09-01	2006-02-28
DUNHAM, Martin	Director	2004-06-11	2005-02-07
FRANDSEN, Arne Hojriis	Director	2017-07-28	2018-03-31
GILBERTSON, Brian Patrick	Director	2017-07-28	2019-11-25
GUPTA, Rajiv Ramlal	Director	2004-06-11	2009-01-29
HAREBOTTLE, Ian Timothy	Director	2009-02-22	2017-07-28
JAMES, Richard Paul	Director	2005-03-15	2009-12-31
KHANDELWAL, Sanjay Kumar	Director	2004-06-10	2008-05-12
KITCHEN, Peter John	Director	2004-06-10	2008-05-12
LINDSAY, Antony Peter	Director	2020-05-13	2025-08-29
LOVETT, David John	Director	2017-07-31	2026-04-28
MASCALL, Graham Edward	Director	2004-11-29	2017-07-28
NEWALL, Geoffrey Clive	Director	2005-04-19	2017-07-28
SHETTY, Devidas	Director	2010-04-01	2016-10-31
SMITH, David	Director	2004-05-14	2004-06-11
WILLIS, Andrew Paul	Director	2017-10-04	2018-03-31

Ownership

Persons with significant control

No persons with significant control on record.

Filing timeline

Last 20 of 239 total filings

Date	Type	Category	Description
2026-04-28	TM01	officers	Termination director company with name termination date	PDF
2025-10-07	AA	accounts	Accounts with accounts type full
2025-09-11	TM01	officers	Termination director company with name termination date	PDF
2025-05-14	CS01	confirmation-statement	Confirmation statement with no updates	PDF
2025-05-08	AA	accounts	Accounts with accounts type full
2024-05-14	CS01	confirmation-statement	Confirmation statement with no updates	PDF
2024-01-15	AA	accounts	Accounts with accounts type full
2023-05-18	CS01	confirmation-statement	Confirmation statement with no updates	PDF
2022-10-11	AA	accounts	Accounts with accounts type full
2022-05-16	CS01	confirmation-statement	Confirmation statement with no updates	PDF
2021-10-05	AA	accounts	Accounts with accounts type full
2021-05-14	CS01	confirmation-statement	Confirmation statement with no updates	PDF
2021-03-05	AA	accounts	Accounts with accounts type full
2020-11-24	CH01	officers	Change person director company with change date	PDF
2020-05-19	CS01	confirmation-statement	Confirmation statement with updates	PDF
2020-05-14	AP01	officers	Appoint person director company with name date	PDF
2019-11-27	TM01	officers	Termination director company with name termination date	PDF
2019-11-18	AA	accounts	Accounts with accounts type full
2019-10-21	RP04CS01	miscellaneous	Legacy
2019-07-10	PSC08	persons-with-significant-control	Notification of a person with significant control statement

Public-record activity

Raw counts from Companies House — last 12–24 months

Filings: 5
Capital events: 0
Officers appointed: 0
Officers resigned: 2

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

Year-on-year

FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31

Turnover

-16.5%

£21,131,208 £17,641,216
Cash

-61.8%

£4,000,000 £1,526,316
Net assets

-8.2%

£218,314,307 £200,478,873
Employees

0%

35 35
Operating profit

-227.1%

£14,006,672 -£17,805,782
Profit before tax

-226.2%

£14,141,586 -£17,846,553

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

Official Companies House page