TOTAL GRAPHITE PLC

• ⚠

  Material uncertainty over going concern

  The Company notes that even though the above assumptions are considered reasonable, there is a material uncertainty in respect of whether the Company would achieve the milestones described above particularly given that the Prospectus approval requirement is not within the full control of the Directors.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

1. TOTAL GRAPHITE PLC 2026-04-24 → present
2. TIRUPATI GRAPHITE PLC 2017-04-26 → 2026-04-24

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

Moore Kingston Smith LLP

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“The Company notes that even though the above assumptions are considered reasonable, there is a material uncertainty in respect of whether the Company would achieve the milestones described above particularly given that the Prospectus approval requirement is not within the full control of the Directors.”

Group structure

1. TOTAL GRAPHITE PLC · parent
   1. Tirupati Madagascar Ventures Sarl 98% · Madagascar · Graphite mining
   2. Etablissements Rostaing Sarl 95% · Madagascar · Graphite mining
   3. Suni Resources, S.A. 99.9997% · Mozambique · Graphite mining
   4. Suni Balama Central, S.A. 99.978% · Mozambique · Graphite mining

Significant events

• “Suspension of Share Trading: trading in the Company's shares on the London Stock Exchange remains suspended as at the date of this report's publication.”
• “2025 Convertible Loan Note issue: The Company completed the issue of £4.5 million of the 2025 Series 1 CLN in June 2025 and subsequent £0.3 million of 2025 Series 2 CLN in October 2025.”
• “December 2025 Fundraising: In December 2025 the Company also announced that it had received commitments for £3.1 million of new funding.”
• “The terms of the 2019 issue of £900,000 convertible loan notes have been amended: Conversion price amended to 2.5 pence per Ordinary Share; Final maturity amended to 31 March 2026; Conversion at the option of the noteholder or the Company; Interest amended to 16% per annum with backdated effect from 1 July 2024.”
• “The terms of the 2022 issue of £1,862,500 convertible loan notes have been amended: Conversion price amended to 3.75 pence per Ordinary Share; Final Maturity Date amended to 31 March 2027; Interest amended to 16% per annum with backdated effect from 26 July 2024 to 26 July 2025 and to 19% per annum from 27 July 2025 onwards.”

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

Filings

13

last 12 months

Capital events

3

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

  -67.9%

  £4,904,000 → £1,575,000

• Cash

  -7.5%

  £186,000 → £172,000

• Net assets

  -20.7%

  £22,897,000 → £18,148,000

• Employees

  +9.8%

  522 → 573

• Operating profit

  -50.6%

  -£3,475,000 → -£5,235,000

• Profit before tax

  -9,327%

  £63,000 → -£5,813,000

• Wages

  +38.2%

  £1,165,000 → £1,610,000

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