FIRESTONE DIAMONDS LIMITED
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Cash
£8.1M
USD 10,874,000
-27.2% vs 2023
Net assets
-£51M
USD -67,533,000
-67% vs 2023
Employees
275
+68.7% vs 2023
Profit before tax
-£21M
USD -27,807,000
-173% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
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Annual accounts overdue
Due 2026-06-30.
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Material uncertainty over going concern
Material uncertainty exists that may cast significant doubt on the Group's and Parent Company's ability to continue as a going concern, primarily due to the reliance on obtaining additional funding after its Care-and-Maintenance facility of $2.7m with Absa Bank Limited expires on 31 July 2025. Thereafter, additional funding will be required.
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Going-concern uncertainty disclosed
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Negative shareholders' funds
Net assets
2-year trend · vs Basic Materials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-06-30
| Metric | Trend | 2023-06-30 | 2024-06-30 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £33,688,426 | £37,477,167 | +11.2% | |
| Operating profit | £37,191,196 | -£11,888,007 | -132% | |
| Profit before tax | £28,516,994 | -£20,816,739 | -173% | |
| Net profit | £28,573,140 | -£20,801,767 | -172.8% | |
| Cash | £11,176,823 | £8,140,440 | -27.2% | |
| Total assets less current liabilities | £555,472 | -£46,822,878 | -8,529.4% | |
| Net assets | -£30,281,479 | -£50,556,221 | -67% | |
| Equity | -£30,281,479 | — | — | |
| Average employees | 163 | 275 | +68.7% | |
| Wages | £4,942,357 | £6,292,858 | +27.3% | |
| Directors' remuneration | £916,305 | £566,702 | -38.2% |
Figures converted to GBP from USD at 0.749 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-06-30 | 2024-06-30 |
|---|---|---|---|
| Operating margin | 110.4% | -31.7% | |
| Net margin | 84.8% | -55.5% | |
| Gearing (liabilities / total assets) | 162.8% | 245.0% | |
| Current ratio | 0.43x | 0.21x | |
| Interest cover | 4.16x | -1.27x |
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.
Name history
Renamed 1 time since incorporation
- FIRESTONE DIAMONDS LIMITED 2022-12-14 → present
- FIRESTONE DIAMONDS PLC 1998-06-24 → 2022-12-14
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Crowe U.K. LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“Material uncertainty exists that may cast significant doubt on the Group's and Parent Company's ability to continue as a going concern, primarily due to the reliance on obtaining additional funding after its Care-and-Maintenance facility of $2.7m with Absa Bank Limited expires on 31 July 2025. Thereafter, additional funding will be required.”
Group structure
- FIRESTONE DIAMONDS LIMITED · parent
- Infrastructure Projects (Pty) Limited 49%
- Liqhobong Mining Development Company (Pty) Limited 75%
- Becksham Corporation 100%
- Becksham Limited 100%
- European Diamonds Limited 100%
- Firestone Diamonds Limited 100%
- Kopane Diamond Developments Limited 100%
- Minegem Inc. 100%
- Firestone Diamonds (Pty) Limited 100%
- Kuboes Diamante (Pty) Limited 87.5%
- Maskam Resources (Pty) Limited 100%
- Oena Mine (Pty) Limited 87.5%
Significant events
- “The Liqhobong Diamond Mine was placed onto care and maintenance from 1 October 2024, from which date, mining operations were suspended.”
- “The Company recovered its most valuable diamond to date, a 215-carat white diamond, which sold for US$3 million.”
- “A total of three diamonds valued at over US$500,000 each were recovered, generating US$4.9 million in revenue.”
- “The mining license was renewed for 10 years until November 2033, with an option for a further 10-year extension.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 28 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PHAKISI, Lehlomela Stephen | Director | 2024-03-04 | Dec 1963 | Mosotho |
| STIRZAKER, Michael Henry | Director | 2019-07-22 | Aug 1959 | British |
Show 28 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CROZIER, Ian James | Secretary | 2020-05-15 | 2025-12-19 |
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 1998-06-24 | 2012-03-31 |
| PRISM COSEC | Corporate Secretary | 2012-04-01 | 2020-05-15 |
| BAXTER, William Douglas | Director | 1998-06-26 | 2012-03-15 |
| BOSMA, Paul | Director | 2018-07-12 | 2022-11-01 |
| BROWN, Stuart Michael | Director | 2013-09-02 | 2018-07-12 |
| CARR, Eileen | Director | 2019-05-01 | 2020-03-31 |
| DE PRETTO, Roberto | Director | 2022-11-02 | 2024-12-31 |
| GENOVESE, Raffaele Lucio Giuseppe Salvatore | Director | 2012-01-17 | 2020-06-30 |
| HAMPTON, Michael | Director | 1998-06-26 | 2012-03-15 |
| JENNER-CLARKE, Hugh Cliford David | Director | 1998-06-26 | 2010-12-23 |
| JOHNSON, Keith Brian | Director | 2015-05-01 | 2023-07-28 |
| JONKER, Abraham Hendrik | Director | 2011-12-14 | 2016-11-01 |
| KENNY, James Flannan | Director | 1998-06-26 | 2010-12-23 |
| KENNY, James | Director | 1998-06-26 | 2011-12-30 |
| KENNY, Philip | Director | 1998-06-26 | 2012-01-16 |
| MAXWELL, Ian John | Director | 2022-11-02 | 2024-12-31 |
| MEIER, Nicolas Patrick Henderson | Director | 2018-07-05 | 2023-07-28 |
| OGILVIE, Angus Alexander Forbes | Director | 2011-05-03 | 2012-04-18 |
| OWEN, Kenric Charles | Director | 2014-06-18 | 2020-03-31 |
| SOBIE, Paul Andrew | Director | 2011-06-02 | 2019-04-30 |
| THOMAS, Deborah Ann | Director | 2016-11-01 | 2018-07-05 |
| TREGER, Julian Andre | Director | 2012-07-24 | 2014-06-18 |
| WILKES, Tim | Director | 2011-03-31 | 2014-02-15 |
| WITTET, Michael John Carter | Director | 2012-07-24 | 2018-07-05 |
| YOUNG, Kenneth Niall | Director | 2014-06-18 | 2019-07-22 |
| PINSENT MASONS DIRECTOR LIMITED | Corporate Nominee Director | 1998-06-24 | 1998-06-26 |
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Director | 1998-06-24 | 1998-06-26 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 280 total filings
Material constitutional events — rename, articles re-file, resolution
- 2022-12-14 CERT10 Certificate re registration public limited company to private
- 2022-12-14 RR02 Reregistration public to private company
- 2022-12-14 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-19 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-06-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-16 | AA | accounts | Accounts with accounts type group | |
| 2025-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-02 | AA | accounts | Accounts with accounts type group | |
| 2024-03-20 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-03 | CH01 | officers | Change person director company with change date | |
| 2023-11-03 | CH01 | officers | Change person director company with change date | |
| 2023-08-01 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-01 | TM01 | officers | Termination director company with name termination date | |
| 2023-06-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-10 | AA | accounts | Accounts with accounts type group | |
| 2022-12-14 | CERT10 | change-of-name | Certificate re registration public limited company to private | |
| 2022-12-14 | RR02 | change-of-name | Reregistration public to private company | |
| 2022-12-14 | MAR | incorporation | Re registration memorandum articles | |
| 2022-12-14 | RESOLUTIONS | resolution | Resolution | |
| 2022-11-17 | AP01 | officers | Appoint person director company with name date | |
| 2022-11-16 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 1
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.