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Registered number: 15138361









KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
COMPANY INFORMATION


Directors
A. R. Corbin 
B. M. Moritz (appointed 22 July 2025, resigned 28 February 2026)
B. M. Sumner (resigned 22 July 2025)
R. Bowen (appointed 7 August 2025)




Company secretary
B. M. Sumner



Registered number
15138361



Registered office
Fifth Floor
167-169 Great Portland Street

London

W1W 5PF




Independent auditors
Adler Shine LLP
Chartered Accountants & Statutory Auditor

Aston House

Cornwall Avenue

London

N3 1LF





 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 

CONTENTS



Page
Strategic Report
1
Directors' Report
2 - 3
Directors' Responsibilities Statement
4
Independent Auditors' Report
5 - 7
Statement of Comprehensive Income
8
Statement of Financial Position
9
Statement of Changes in Equity
10
Statement of Cash Flows
11
Notes to the Financial Statements
12 - 20


 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025

Introduction
 
The directors present their Strategic Report for the year ended 30 September 2025.

Business review
 
The company is involved in investment in and management of mining activities. This is the second year of the company and there is no revenue from operations. 

Principal risks and uncertainties
 
The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to Board approval and ongoing review by management.  Compliance with regulation, legal and ethical standards is a high priority for the Company and the directors take on an important oversight role in this regard.

Financial key performance indicators
 
Financial KPIs include revenue £Nil (2024: £Nil), gross profit £Nil (2024: £Nil), operating loss £129,305 (2024: loss £14,306) and net assets £1,824,315 (2024: £609,194).

Other key performance indicators
 
No other key performance indicators are identified.

Directors' statement of compliance with duty to promote the success of the Company
 
All Board decisions made during the year were made to promote the long term success of both the company and its investors.


This report was approved by the board and signed on its behalf.



................................................
A. R. Corbin
Director

Date: 21 September 2026

Page 1

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025

The directors present their report and the financial statements for the year ended 30 September 2025.

Results and dividends

The loss for the year, after taxation, amounted to £129,305 (2024 - loss £14,306).

No dividend is recommended for the period.

Directors

The directors who served during the year were:

A. R. Corbin 
B. M. Moritz (appointed 22 July 2025, resigned 28 February 2026)
B. M. Sumner (resigned 22 July 2025)
R. Bowen (appointed 7 August 2025)

Future developments

Over the next 12 months, we will establish fluidity with regards production, the implementation of a 400 tonne a day processing plant will allow for continuity and progression from a revenue perspective.
Implementation of SOP's and safety protocols and regulatory adherance will form the basis of a well structured operation.

Engagement with suppliers, customers and others

The Directors are committed to foster strong relationships with our key suppliers and customers through regular communication and collaborative engagement. The decisions are taken after careful consideration of their likely impact on our business and relationships.
 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

The company has issued 17,740,284 ordinary shares post year end. The nominal value of each share is £0.002 and the amount paid per share is £0.04.
On 9 September 2026, the company re-registered as a private company and changed its name to Kadoma Mining Limited.

Page 2

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025





This report was approved by the board and signed on its behalf.
 





................................................
A. R. Corbin
Director
Date: 21 September 2026

Page 3

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 

Disclaimer of opinion


We were engaged to audit the financial statements of Kadoma Mining Limited (Formerly Kadoma Mining Plc) (the 'Company') for the year ended 30 September 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
 
We do not express an opinion on the accompanying financial statements of the company. Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.
 

 

Basis for disclaimer of opinion


During the year, funds amounting to £1,347,712 was transferred to a mining company in Zimbabwe, which Kadoma Mining Limited (Formerly Kadoma Mining Plc) has an interest in. The funds were to finance the establishment and future operations of the Zimbabwean company and have been included in fixed asset investments, which at the year-end amounted to £1,956,458.
We have been unable to verify the receipt or application of those funds by the Zimbabwean mining company. We have also been unable to verify the recoverability of the investment of £1,956,458 in that company.









Page 5

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC) (CONTINUED)




Opinion on other matters prescribed by the Companies Act 2006
 

Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have been unable to form an opinion, whether based on the work undertaken in the course of the audit:


∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
 

Notwithstanding our disclaimer of an opinion on the financial statements, in the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit performed subject to the pervasive limitation described above, we have not identified material misstatements in the Strategic Report or the Directors' Report. Arising from the limitation of our work referred to above: 
•      we have not obtained all the information and explanations that we considered necessary for the purpose of    our audit; and 
•       we were unable to determine whether adequate accounting records have been kept. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙returns adequate for our audit have not been received from branches not visited by us; or 
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made; or
∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 6

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC) (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our responsibility is to conduct an audit of the company’s financial statements in accordance with International Standards on Auditing (UK) and to issue an auditor’s report. 
However, because of the matter described in the basis for disclaimer of opinion section of our report, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements. 
We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Engin Zekia BSc FCA (Senior Statutory Auditor)
for and on behalf of
Adler Shine LLP
Chartered Accountants
Statutory Auditor
Aston House
Cornwall Avenue
London
N3 1LF

21 September 2026
Page 7

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025

Year ended
30 September
Period ended
30 September
2025
2024
Note
£
£

  

Administrative expenses
  
(129,305)
(70,335)

Other operating income
 4 
-
56,029

Operating loss
  
(129,305)
(14,306)

Tax on loss
 7 
-
-

Loss for the financial year
  
(129,305)
(14,306)

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 12 to 20 form part of these financial statements.

Page 8

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
REGISTERED NUMBER: 15138361

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2025

2025
2024
Note
£
£

Fixed assets
  

Investments
 8 
1,956,458
608,746

  
1,956,458
608,746

Current assets
  

Debtors: amounts falling due within one year
 9 
-
268,283

Cash at bank and in hand
 10 
1
-

  
1
268,283

Creditors: amounts falling due within one year
 11 
(132,144)
(267,835)

Net current (liabilities)/assets
  
 
 
(132,143)
 
 
448

Total assets less current liabilities
  
1,824,315
609,194

  

Net assets
  
1,824,315
609,194


Capital and reserves
  

Called up share capital 
 14 
271,895
90,255

Share premium account
  
1,696,031
533,245

Profit and loss account
  
(143,611)
(14,306)

  
1,824,315
609,194


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A. R. Corbin
Director

Date: 21 September 2026

The notes on pages 12 to 20 form part of these financial statements.

Page 9

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


Comprehensive income for the period

Loss for the period
-
-
(14,306)
(14,306)
Total comprehensive income for the period
-
-
(14,306)
(14,306)


Contributions by and distributions to owners

Shares issued during the period
90,255
533,245
-
623,500



At 1 October 2024
90,255
533,245
(14,306)
609,194


Comprehensive income for the year

Loss for the year
-
-
(129,305)
(129,305)


Contributions by and distributions to owners

Shares issued during the year
181,640
1,162,786
-
1,344,426


At 30 September 2025
271,895
1,696,031
(143,611)
1,824,315


The notes on pages 12 to 20 form part of these financial statements.

Page 10

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

2025
2024
£
£

Cash flows from operating activities

Loss for the financial year
(129,305)
(14,306)

Adjustments for:

Decrease/ (Increase) in debtors
268,283
(268,283)

Increase in creditors
53,778
29,835

Expenses paid for other than cash consideration
36,911
40,500

Interest income accrued
-
(56,029)

Net cash generated from operating activities

229,667
(268,283)


Cash flows from investing activities

Purchase of  investments
(1,347,712)
(552,717)

Net cash from investing activities

(1,347,712)
(552,717)

Cash flows from financing activities

Issue of ordinary shares -for cash consideration
144,729
49,755

Share Premium on issued capital
924,786
533,245

Share application money received
48,531
238,000

Net cash used in financing activities
1,118,046
821,000

Net increase in cash and cash equivalents
1
-

Cash and cash equivalents at the end of year
1
-


Cash at bank and in hand
1
-


The notes on pages 12 to 20 form part of these financial statements.

Page 11

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

1.


General information

Kadoma Mining Limited (Formerly Kadoma Mining Plc) is a company limited by shares and is registered in England and Wales. The registered office is Fifth Floor, 167-169 Great Portland Street, London, W1W 5PF. The principal activity is that of investment in and management of mining activities. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the Company will be able to continue trading for the foreseeable future. The directors have considered relevant information, including the financial projections, forecast future cash flows and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the company, the directors have concluded that there is no material uncertainty and that the going concern basis is appropriate for the preparation of these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Pound Sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 12

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 13

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly
Page 14

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)


2.11
Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Page 15

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.   
                                                                    
Impairment of assets
Financial and non-financial assets are subject to impairment reviews based on whether current or future events and circumstances suggest that their recoverable amount may be less than their carrying value (including for investments in subsidiaries and amounts due from group undertakings). Recoverable amount is based on the higher of the value in use and fair value less costs to sell. There was no impairments of investments.


4.


Other operating income

Year ended
30 September
Period ended
30 September
2025
2024
£
£

Other operating income
-
56,029

-
56,029


Page 16

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

5.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors and their associates:


Year ended
30 September
Period ended
30 September
2025
2024
£
£

Fees payable to the Company's auditors and their associates for the audit of the Company's financial statements
16,800
15,600

6.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).


7.


Taxation


Year ended
30 September
Period ended
30 September
2025
2024
£
£



Total current tax
-
-

Deferred tax

Total deferred tax
-
-


-
-
Page 17

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
 
7.Taxation (continued)


Factors affecting tax charge for the year/period

The tax assessed for the year/period is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 19% (2024 - 19%). The differences are explained below:

Year ended
30 September
Period ended
30 September
2025
2024
£
£


Loss on ordinary activities before tax
(129,305)
(14,306)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2024 - 19%)
(24,568)
(2,718)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
2,695
1,596

Unrelieved tax losses carried forward
21,873
1,122

Total tax charge for the year/period
-
-



At the year end there were management losses carried forward of £121,023 (2024: £5,906) which can be offset against total future profits.


8.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 October 2024
608,746


Additions
1,347,712



At 30 September 2025
1,956,458




Page 18

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

9.


Debtors

2025
2024
£
£


Other debtors
-
268,283

-
268,283



10.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
1
-

1
-



11.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
20,428
14,235

Other creditors
94,916
238,000

Accruals and deferred income
16,800
15,600

132,144
267,835



12.


Share subscription funds

Other creditors includes £48,532 (2024: £238,000) that represents funds received from existing investors pending allotment of shares. The shares were issued against this fund post balance sheet date. 


13.


Share based payments

Consulting services incurred for £36,911 (2024: £40,500) during the period has been settled by issuing ordinary equity shares at nominal value of £0.002 (2024: £0.002) per share.

Page 19

 
KADOMA MINING LIMITED (FORMERLY KADOMA MINING PLC)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

14.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



135,947,640 (2024 - 45,127,684) Ordinary shares  of £0.002 each
271,895
90,255





15.


Related party transactions

During the period, the company incurred secretarial fees of £21,628 (2024: £14,235) to a company in which B.M. Sumner has an interest. The trade creditor outstanding at the year end in regards to these fees was £20,863 (2024:£14,235).
During the year, consultancy fees were paid to a director for £4,000 (2024: £2,000).
A loan of £5,959 (2024: £Nil) is payable to a significant shareholder at the year end. 
A loan of £2,200 (2024: £Nil) is payable to a director as at the year end.
 


16.


Share Warrants

Share warrants totalling £19,958,333 were granted during the year with an exercise price of £0.04 . None were exercised during the year and all remain outstanding at the year end. 


17.


Issue of shares post year end

The company has issued 17,740,284 ordinary shares post year end. The nominal value of each share is £0.002 and the amount paid per share is £0.04.


18.


Post balance sheet events

On 9 September 2026, the company re-registered as a private company and changed its name to Kadoma Mining Limited.


19.


Controlling party

The ultimate controlling party for the year ended 30 September 2025 was Mr. Zaid Ali Almihdar. He ceased to be the controlling party on 28 May 2026.

 
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