GRIT INVESTMENT TRUST PLC

• ⚠

  Insolvency history on file

  Companies House holds prior insolvency events for this company. Detail and outcome on the official register.

• ⚠

  Material uncertainty over going concern

  We draw attention to note 1 in the financial statements, which indicates that the Company incurred a net loss of £114k during the year ended 31 March 2025 and, as of that date, the Company's cash was £4k with current liabilities exceeding total assets by £614k. Although within the net liability position, £370k of the balance relates to Convertible Unsecured Loan Notes ("CULNs") that will ultimately have no cash implications on conversion, the current cash position is insufficient to fund the Company's working capital requirements as well as its reverse takeover ("RTO") transaction strategy. We note that the Company was successful in a fund-raising during August 2025, to further its RTO strategy, through the issue of £250k new CULNs. However, should the proposed acquisition of Nabirm Global LLC not be successful the Company will require a further cash injection either through equity raisings or other financial arrangements to fund its ongoing working capital needs and seek a new RTO target. Whilst it is expected that further cash could be raised if needed, no firm agreements are currently in place to support this. As noted in note 1, these events or conditions, along with the other matters as set forth in note 1, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. GRIT INVESTMENT TRUST PLC 2022-01-10 → present
2. GLOBAL RESOURCES INVESTMENT TRUST PLC 2014-02-06 → 2022-01-10
3. GLOBAL RESOURCES INVESTMENT TRUST LTD 2014-02-06 → 2014-02-06
4. GLOBAL RESOURCES INVESTMENT LTD 2012-10-16 → 2014-02-06

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

Standalone (parent only)

Auditor

Royce Peeling Green Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 1 in the financial statements, which indicates that the Company incurred a net loss of £114k during the year ended 31 March 2025 and, as of that date, the Company's cash was £4k with current liabilities exceeding total assets by £614k. Although within the net liability position, £370k of the balance relates to Convertible Unsecured Loan Notes ("CULNs") that will ultimately have no cash implications on conversion, the current cash position is insufficient to fund the Company's working capital requirements as well as its reverse takeover ("RTO") transaction strategy. We note that the Company was successful in a fund-raising during August 2025, to further its RTO strategy, through the issue of £250k new CULNs. However, should the proposed acquisition of Nabirm Global LLC not be successful the Company will require a further cash injection either through equity raisings or other financial arrangements to fund its ongoing working capital needs and seek a new RTO target. Whilst it is expected that further cash could be raised if needed, no firm agreements are currently in place to support this. As noted in note 1, these events or conditions, along with the other matters as set forth in note 1, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Significant events

• “12 August 2025 The Company raised £250k (before expenses) via the issue of zero coupon Convertible Unsecured Loan Notes ("CULNs")”
• “14 August 2025 The Company signed non-binding heads of terms to acquire Nabirm Global LLC via a proposed reverse takeover.”
• “20 August 2025 Royce Peeling Green Limited were appointed as auditors, following the resignation of PKF Littlejohn LLP (registered on Companies House on 1 September 2025) Their appointment is subject to shareholder approval at the forthcoming Annual General Meeting”
• “20 October 2025 The Company received conditional conversion notices in respect of the £370k CULNs outstanding at 31 March 2025 Conversion is conditional upon publication of a prospectus to enable the issue of the underlying shares by no later than 31 December 2026, and shall occur automatically on publication of that prospectus if published by that date At the date of approval of these financial statements, the conversion condition had not been met.”

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

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.