ORACLE POWER PLC

• ⚠

  Material uncertainty over going concern

  During the year under review, the Group experienced net cash outflows from its operating activities which it financed from existing cash resources held at the start of the year and cash received from the issue of new equity share capital. This additional cash requirement creates a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. However, the Directors expect to be able to meet the funding requirements for the Group to continue as a going concern for at least 12 months from the date of the approval of these financial statements through the use of existing cash resources and further issue of new ordinary share capital and, consequently, the Directors consider it appropriate to adopt the going concern basis in the preparation of the financial statements.

1. ORACLE POWER PLC 2017-06-26 → present
2. ORACLE COALFIELDS PLC 2006-07-05 → 2017-06-26

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

Price Bailey LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“During the year under review, the Group experienced net cash outflows from its operating activities which it financed from existing cash resources held at the start of the year and cash received from the issue of new equity share capital. This additional cash requirement creates a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. However, the Directors expect to be able to meet the funding requirements for the Group to continue as a going concern for at least 12 months from the date of the approval of these financial statements through the use of existing cash resources and further issue of new ordinary share capital and, consequently, the Directors consider it appropriate to adopt the going concern basis in the preparation of the financial statements.”

Group structure

1. ORACLE POWER PLC · parent
   1. Sindh Carbon Energy Limited 100% · Pakistan · Coal exploration and mining
   2. Thar Electricity (Private) Limited 100% · Pakistan · Energy production
   3. Oracle Gold Limited 100% · England · Administration and financial support
   4. Oracle Gold Pty Limited 100% · Australia · Gold exploration and mining

Significant events

• “acquisition of an exciting new copper and silver project in Western Australia”
• “submitted mining lease application to the Department of Energy, Mines, Industry Regulation and Safety in Western Australia”
• “welcomed Ms Emma Priestley as a new Non-Executive Director”
• “resignation of Mr Mark Steed”
• “raised a total of £866,667 via two share placements and the exercise of outstanding warrants”
• “completed the comprehensive technical and commercial feasibility study for the proposed 1.3 GW hybrid renewable power facility, which was completely funded by State Grid Corporation of China”

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

Filings

7

last 12 months

Capital events

9

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

  +204.2%

  £203,526 → £619,197

• Net assets

  +7.4%

  £6,316,257 → £6,786,766

• Employees

  +25%

  4 → 5

• Operating profit

  +13.9%

  -£848,058 → -£730,119

• Profit before tax

  +9.9%

  -£789,795 → -£711,875

• Wages

  +8.2%

  £265,000 → £286,695

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