BAOBAB STEEL LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2 to the financial statements, which indicates that the Group will require further funding within the next 12 months. As stated in note 2, these events or conditions, along with other matters as set out in note 2, indicate that a material uncertainty exists that may cast significant doubt on the Group's and Parent Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

1. BAOBAB STEEL LIMITED 2021-08-27 → present
2. BAOBAB RESOURCES LIMITED 2015-07-15 → 2021-08-27
3. BAOBAB RESOURCES PLC 2005-11-11 → 2015-07-15
4. BOABAB RESOURCES PLC 2005-10-12 → 2005-11-11

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

“We draw attention to note 2 to the financial statements, which indicates that the Group will require further funding within the next 12 months. As stated in note 2, these events or conditions, along with other matters as set out in note 2, indicate that a material uncertainty exists that may cast significant doubt on the Group's and Parent Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. BAOBAB STEEL LIMITED · parent
   1. Maputo Minerals Limited 100% · British Virgin Islands · Corporate shareholder of Capitol Resources Lda
   2. Mocambique Resources Limited 100% · British Virgin Islands · Corporate shareholder of Capitol Resources Lda
   3. Capitol Resources Lda 100% · Mozambique · Holds mining assets and interests in Mozambique
   4. Mayfair Mineral Exploration Lda 100% · Mozambique · Holds mining assets and interests in Mozambique
   5. Capitol Iron and Steel Lda 100% · Mozambique · Incorporated to hold the Group's Iron & Steel operations
   6. Baobab Global Trading FZE 100% · United Arab Emirates · Incorporated to manage future marketing activities

Significant events

• “The Group drew down US$150,000 on 31 January 2025 against the bridge facility with AMED, as described in note 11 in the consolidated accounts, to meet ongoing working capital requirements.”
• “The board approved the issue of news shares totaling 4,123,240 on 9 December 2024.”

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

Filings

1

last 12 months

Capital events

1

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

  +13%

  £197,891 → £223,594

• Net assets

  -3.4%

  -£9,913,842 → -£10,251,683

• Employees

  -25%

  28 → 21

• Operating profit

  +47.9%

  -£1,386,002 → -£721,551

• Profit before tax

  +68.2%

  -£1,382,632 → -£440,128

• Wages

  -10.8%

  £429,284 → £382,817

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