TOKAMAK ENERGY LTD

1. TOKAMAK ENERGY LTD 2014-03-03 → present
2. TOKAMAK SOLUTIONS UK LTD 2009-10-23 → 2014-03-03

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

UK-adopted International Accounting Standards

Reporting scope

Consolidated group

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis, which assumes the Group and Company will have sufficient funds available to enable them to continue to trade for the foreseeable future. The research and development nature of the Group's and Company's strategy means that the timing of milestones and funds generated from developments are not guaranteed at this stage. The directors have prepared financial forecasts to estimate the likely cash requirements of the Group and Company over the next 12 months from the date of approval of the financial statements. The forecasts show that the current cash runway extends to December 2026 based on current operational spend and that the Group and Company do not require any additional external funding to be able to continue as a going concern during that period.”

Group structure

1. TOKAMAK ENERGY LTD · parent
   1. Tokamak Solutions EBT Limited 100% · United Kingdom · Employee Benefit Trust
   2. Tokamak Energy Inc 100% · United States of America · Establishing R&D collaborations with US organisations

Significant events

• “Tokamak Energy KK in Japan was incorporated in January 2025.”
• “In April 2025, Tokamak Energy was selected for an award from The Tokyo Metropolitan Government under its GX (Green Transformation) Foreign Company Entry Support Program.”
• “In January 2025, the company won a £0.8m bid to advance fusion development under UK Atomic Energy Authority's £200 million Lithium Breeding Tritium Innovation (LIBRTI) programme.”
• “In August 2025, the group issued £23.5m unsecured convertible loan notes to shareholders.”

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

Filings

9

last 12 months

Capital events

5

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  +1,047.4%

  £76,000 → £872,000

• Cash

  -23.5%

  £54,037,000 → £41,314,000

• Net assets

  -10.8%

  £57,540,000 → £51,301,000

• Employees

  +1.9%

  259 → 264

• Operating profit

  -15.7%

  -£34,894,000 → -£40,368,000

• Profit before tax

  +2%

  -£39,487,000 → -£38,685,000

• Wages

  +17.1%

  £17,446,000 → £20,432,000

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