CHESTERFIELD RESOURCES PLC

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.3 in the financial statements, which indicates that the group's and parent company's ability to continue as a going concern is based on their ability to realise its available-for-sale investment in Sterling Metals at an acceptable price or to raise additional funds during the going concern period to fund exploration expenditure and working capital requirements. As stated in note 2.3, these events or conditions, 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.

1. CHESTERFIELD RESOURCES PLC 2017-05-08 → present
2. CHESTERFIELD RESOURCES LIMITED 2017-01-04 → 2017-05-08

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

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.3 in the financial statements, which indicates that the group's and parent company's ability to continue as a going concern is based on their ability to realise its available-for-sale investment in Sterling Metals at an acceptable price or to raise additional funds during the going concern period to fund exploration expenditure and working capital requirements. As stated in note 2.3, these events or conditions, 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.”

Group structure

1. CHESTERFIELD RESOURCES PLC · parent
   1. CRC Chesterfield Resources (Cyprus) Limited 100% · Cyprus · Exploration
   2. Chesterfield (Canada) Inc 100% · Canada · Exploration

Significant events

• “On 3 March 2023 company granted an option to acquire its Adeline Project to Sterling Metals (SAG.V). Following the final sale of the Adeline Project during 2024, the Company's exposure to this project is now limited to the shares the Company holds in Sterling Metals. In Cyprus, the remaining licenses were not renewed and expired in March 2025.”
• “Reached an agreement to complete the sale of the Adeline project in eastern Canada to Sterling Metals”
• “Following their assessment, the Directors concluded that an impairment charge of £7,704 was necessary for the year ended 31 December 2024 (2023: £897,395) due to the lapse of the remaining three licences areas in Cyprus post year end.”
• “On 21 April 2023, the Company was issued 4,500,000 common shares in Sterling Metals Corporation in relation to the disposal of subsidiary. The shares have been valued at fair value upon issue (CAD$ 0.15) totalling CAD$675,000 (£402,944).”
• “On 31 December 2023, an unrealised loss of £269,519 was recognised following a revaluation of the shares in line with the current share price (CAD$ 0.05) to total CAD$225,000 (£133,425).”
• “On 19 April 2024, the Company sold 308,000 common shares in Sterling Metals Corporation. The shares had a fair value on disposal (CAD$ 0.07) totalling CAD$21,601 (£12,649) and a book value of CAD$46,200 (£27,579).”
• “On 26 November 2024, the Company was issued 8,500,000 common shares in Sterling Metals Corporation in relation to the disposal of subsidiary. The shares have been valued at fair value upon issue (CAD$ 0.03) totalling CAD$680,000 (£144,108).”
• “On 31 December 2024, an unrealised loss of £38,589 was recognised following a revaluation of the shares in line with the current share price (CAD$ 0.03) to total CAD$380,760 (£211,365).”
• “As at 31 December 2024, Chesterfield owned 3 mineral exploration licenses in Cyprus... Post year end, the licences were not renewed.”

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

Filings

5

last 12 months

Capital events

2

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

  -75.5%

  £278,675 → £68,361

• Net assets

  -85.8%

  £809,303 → £114,837

• Employees

  —

  Not reported

• Operating profit

  -49.5%

  -£375,596 → -£561,562

• Profit before tax

  +56.2%

  -£1,911,855 → -£836,836

• Wages

  +156.3%

  £3,975 → £10,187

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