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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Marula Mining

MAR · A2X Markets · Consolidated statements

On this page
Company details
Legal name
Marula Mining PLC
Listing
MAR on the A2X Markets, active · ISIN GB00BNBS4S95 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2023 · annual report, final status not established · source

Read with these figures

  • Going-concern warning. The auditor's report for the year ended 31 December 2023 states a material uncertainty about whether the company can continue as a going concern.
  • Annual report not confirmed as final. The published copy is unsigned and undated. The going-concern warning comes from it. The FY2023 figures come from it.
Full wording and sources

  • Auditor's report, year to 2023-12-31: material uncertainty related to going concern

    Material uncertainty related to going concern: We draw attention to note 1 in the financial statements, which indicates that the group will need to raise additional funds to maintain sufficient cash flows. As stated in note 1, these events or conditions, along with other matters as set forth in note 1, indicate that a material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

    Source: Marula Mining PLC Consolidated Annual Report and Financial Statements for the year ended 31 December 2023, p13 (dated 2024-09-12)

  • Annual report for 2023: final status not established

    The independent auditor's report to the members (PDF pp13-18) gives an unqualified opinion (p13) with a 'Material uncertainty related to going concern' paragraph (p15), and ends 'Martin Clapson FCA (Senior Statutory Auditor), For and on behalf of Price Bailey LLP, Chartered Accountants & Statutory Auditors, Cambridge' in type with no signature and with 'Date:' left blank (p18, page image). The board approval on the statement of financial position is signed by Jason Brewer, Executive Director, and dated 12 September 2024 (p20, page image).

    Source: Marula Mining PLC Consolidated Annual Report and Financial Statements for the year ended 31 December 2023 (dated 2024-09-12)

  • Revenue

    Not reported in this filing

  • Operating profit / (loss)

    −GBP 2.80 million

    (2,803,436) GBP units · p19

    Change not shown.

  • Profit / (loss) for the year

    −GBP 3.17 million

    (3,169,917) GBP units · p19

    Change not shown.

  • Total assets

    GBP 6.13 million

    6,125,761 GBP units · p20

    +100.9% vs 2022

  • Total equity

    GBP 1.49 million

    1,494,865 GBP units · p20

    +2248.5% vs 2022

  • Cash from operations

    −GBP 913,440

    (913,440) GBP units · p25

    −196.4% vs 2022

Large amounts are rounded for reading (GBP million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in GBP units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2023 — annual report, final status not established; reported for the year · source
  • FY2022 — annual report, final status not established; comparative in the FY2023 filing · source

Income statement

Income statement, GBP units. Columns: FY2023 — annual report (final status not established), as reported for the year; FY2022 — annual report (final status not established), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Administrative expenses (1,865,685) (802,299)
Operational expenses1 (682,910) –2
Depreciation (254,841) (1,364)
Loss from operations (2,803,436) (803,663)
Interest income 473 196
Interest expense3 (210,640) –4
Finance costs (156,314) –4
Loss before taxation (3,169,917) (803,467)
Income tax expense –5 227
Loss for the year (3,169,917) (803,240)
Other comprehensive profit/( losses) 187,559 (5)
Total comprehensive loss for the year (2,982,358) (803,245)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
  3. Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
Notes and alternative reported figures (2)
  1. “Operational expenses” is an issuer-specific line, not mapped to a shared definition: Operating expenses printed apart from administrative expenses (2022 '-').
  2. “Interest expense” is an issuer-specific line, not mapped to a shared definition: Note 6; printed apart from finance costs (2022 '-').

Balance sheet

Balance sheet, GBP units. Columns: FY2023 — annual report (final status not established), as reported for the year; FY2022 — annual report (final status not established), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Property, plant & equipment 834,548 23,429
Right-of-use assets 1,307,719 –1
Exploration expenditure2 3,670,273 2,453,655
Non-current assets (unlabelled subtotal) 5,812,540 2,477,084
Trade and other receivables 276,629 472,096
Cash and cash equivalents 36,592 100,316
Current assets (unlabelled subtotal) 313,221 572,412
TOTAL ASSETS 6,125,761 3,049,496
Issued share capital 926,196 918,431
Share premium 7,184,825 2,807,033
Other Reserves3 748,467 720,452
Foreign currency reserve4 187,554 (5)
Accumulated losses (7,552,177) (4,382,260)
TOTAL EQUITY 1,494,865 63,651
Lease liability 713,609 –5
Non-current liabilities (unlabelled subtotal) 713,609 –6
Trade and other payables 3,020,854 2,750,184
Borrowings –7 235,661
Lease liability 896,433 –7
Current liabilities (unlabelled subtotal) 3,917,287 2,985,845
TOTAL LIABILITIES 4,630,896 2,985,845
TOTAL EQUITY AND LIABILITIES 6,125,761 3,049,496
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
  3. Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
  4. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (3)
  1. “Exploration expenditure” is an issuer-specific line, not mapped to a shared definition: Note 13: capitalised exploration and evaluation expenditure.
  2. “Other Reserves” is an issuer-specific line, not mapped to a shared definition: Note 22.
  3. “Foreign currency reserve” is an issuer-specific line, not mapped to a shared definition: Note 9.

Cash flow

Cash flow, GBP units. Columns: FY2023 — annual report (final status not established), as reported for the year; FY2022 — annual report (final status not established), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Total loss before tax1 (3,169,917) (803,240)
Depreciation2 254,841 1,364
Finance costs3 156,314 –4
Interest receivable5 (473) (196)
Interest payable6 210,640 –4
Foreign exchange7 98,280 34,569
Share based payments8 44,400 58,700
Movement in contract liabilities9 –4 2,178,074
Decrease /(increase) in trade and other receivables10 76,012 (736,095)
Increase / (decrease) in trade and other payables11 1,416,463 214,206
Increase in income tax repayable12 –4 (227)
NET CASH INFLOW / (OUTFLOW) FROM OPERATING ACTIVITIES (913,440) 947,155
Exploration expenditure13 (800,065) (1,843,472)
Purchase of tangible fixed assets (867,123) (24,793)
Payments for incorporation of subsidiaries14 (1,149) –15
Cash on acquisition of SALT16 –15 1,455
Interest received 473 196
CASH (OUTFLOW) FROM INVESTING ACTIVITIES (1,667,864) (1,866,614)
Cash proceeds from issuing shares or other equity instruments17 1,068,503 572,759
Proceeds from shares yet to be issued18 1,450,059 97,495
Proceeds from convertible loan note19 –20 205,000
CASH INFLOW FROM FINANCING ACTIVITIES 2,518,562 875,254
Movement in cash for the year (62,742) (44,205)
Cash and cash equivalents brought forward 100,316 144,521
Foreign exchange impact on cash (982) –21
CASH AND CASH EQUIVALENTS AS AT 31 DECEMBER 36,592 100,316
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
  4. Printed “-”; reading unresolved, so no amount is shown. Printed dash; no printed subtotal confirms a nil reading.
Notes and alternative reported figures (17)
  1. “Total loss before tax” is an issuer-specific line, not mapped to a shared definition: Starting point of the indirect method; 2022 printed as the loss after tax.
  2. “Depreciation” is an issuer-specific line, not mapped to a shared definition: Add-back.
  3. “Finance costs” is an issuer-specific line, not mapped to a shared definition: Add-back.
  4. “Interest receivable” is an issuer-specific line, not mapped to a shared definition: Deduction.
  5. “Interest payable” is an issuer-specific line, not mapped to a shared definition: Add-back.
  6. “Foreign exchange” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  7. “Share based payments” is an issuer-specific line, not mapped to a shared definition: Add-back.
  8. “Movement in contract liabilities” is an issuer-specific line, not mapped to a shared definition: Adjustment (2023 '-').
  9. “Decrease /(increase) in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working capital.
  10. “Increase / (decrease) in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working capital.
  11. “Increase in income tax repayable” is an issuer-specific line, not mapped to a shared definition: Working capital (2023 '-').
  12. “Exploration expenditure” is an issuer-specific line, not mapped to a shared definition: Investing.
  13. “Payments for incorporation of subsidiaries” is an issuer-specific line, not mapped to a shared definition: Investing (2022 '-').
  14. “Cash on acquisition of SALT” is an issuer-specific line, not mapped to a shared definition: Investing (2023 '-').
  15. “Cash proceeds from issuing shares or other equity instruments” is an issuer-specific line, not mapped to a shared definition: Financing.
  16. “Proceeds from shares yet to be issued” is an issuer-specific line, not mapped to a shared definition: Financing.
  17. “Proceeds from convertible loan note” is an issuer-specific line, not mapped to a shared definition: Note 24; financing (2023 '-').

Per share and shares

Per share and shares. Columns: FY2023 — annual report (final status not established), as reported for the year; FY2022 — annual report (final status not established), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Earnings / (loss) per share (per share)3 (0.0241)1 (0.0786)2
  1. Printed as (2.41) pence; value converted to GBP at 100 pence = 1 GBP.
  2. Printed as (7.86) pence; value converted to GBP at 100 pence = 1 GBP.
Notes and alternative reported figures (1)
  1. Earnings / (loss) per share: printed as “Basic”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Marula Mining PLC Consolidated Annual Report and Financial Statements for the year ended 31 December 2023

    Year ended 31 December 2023 · Annual report · final status not established

    Audit: Price Bailey LLP, Chartered Accountants & Statutory Auditors, unmodified opinion · includes a material-uncertainty paragraph

    Auditor's sign-off: Martin Clapson FCA (Senior Statutory Auditor) for and on behalf of Price Bailey LLP (typeset)

    Final status: The independent auditor's report to the members (PDF pp13-18) gives an unqualified opinion (p13) with a 'Material uncertainty related to going concern' paragraph (p15), and ends 'Martin Clapson FCA (Senior Statutory Auditor), For and on behalf of Price Bailey LLP, Chartered Accountants & Statutory Auditors, Cambridge' in type with no signature and with 'Date:' left blank (p18, page image). The board approval on the statement of financial position is signed by Jason Brewer, Executive Director, and dated 12 September 2024 (p20, page image).

    Document date
    12 Sep 2024
    Auditor's report
    date left blank in this document
    Board approval
    12 Sep 2024
    Retrieved by us
    17 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023, FY2022
    Basis
    consolidated statements · GBP units (printed “£”)
    • The cash-flow statement starts from 'Total loss before tax' of (803,240) for 2022, the loss after tax in the statement of profit or loss (loss before taxation (803,467)); kept as printed.
    • The column symbol is printed '£' (OCR reads '€'). The statement of financial position prints a 2021 restated column (not transcribed) and leaves the non-current and current subtotals unlabelled. Diluted loss per share is printed with the same amounts as basic.
    • The 2022 comparatives are restated (pp19-20 footnotes): £1,269,176 allocated to goodwill on the 2022 acquisition of SALT reclassified as capitalised exploration expenditure; warrants of £53,679 (2021) and £61,699 (2022) reversed against share premium, other reserves and borrowings; £206,441 of 2022 consultancy fees reclassified from share premium to the loss for the year.
    Technical details
    File
    60 pages, scanned (figures read by OCR and checked against the page image)
    SHA-256
    2353cbfb2102e5fc6269aa930adb58c1b3e35f01d36e45344ad433fdc2405597
    Entity as printed
    MARULA MINING PLC, company registration number 04228788 (p1)
    Regulator copy
    retrieved 2026-10-17T14:46:15Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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