Mendell Helium plc
For the year ended 31 March 2026 Mendell Helium plc was a UK (Scotland-incorporated) holding company whose only trading activity was renting out two former retail units (its plant-based health & wellness business having been sold in October 2024) while it worked to complete the acquisition of M3 Helium Corp, a helium producer in Kansas, USA, and to move its listing from the Aquis Growth Market to AIM. Both the M3 Helium acquisition (18 May 2026) and the AIM admission (16 June 2026) completed after the 31 March 2026 year end, so the reported financial statements are of a pre-production shell company; M3 Helium itself produces and sells helium (and some hydrocarbons) from wells in the Hugoton gas field and the Fort Dodge region of Kansas.
FY2026 in sixty seconds
year to 31 Mar 2026 · approved 30 Sept 2026 · 99 pages · Companies House
Mendell Helium plc spent the year to 31 March 2026 as a shell company preparing to buy M3 Helium Corp, a helium producer in Kansas. Its only income was rent from two former shops that it sub-lets. It reported revenue of £0, the same as the year before, and a loss before tax of £1.3m, up from £902k.
The loss grew because running costs continued with no trading business to cover them. It also included one-off costs: writing off a Nebraska exploration project valued at £90,247, and costs of warrants (rights to buy shares) issued in the year. The year before was helped by one-off gains from selling its old business.
Cash at the year end was £322k, up from £76k, after £1.4m was raised from new shares. The company has no bank borrowings and paid no dividend. After the year end it raised £5,060,000, completed the M3 Helium purchase and moved its listing to AIM. Management expects next year's accounts to be "very different" and says shareholders should expect a "meaningful expansion" of operations. The auditor raised no going-concern doubt, but the report warns there is no guarantee of revenue or profit.
Rental income from two former retail units sub-let following the 2024 disposal of the legacy plant-based health & wellness business
Cashflow in the period to 31 March 2026 of £73,666, which was rent from two shops sub-let; otherwise no operating activities
page 12With our acquisition of M3 Helium and our move to AIM both complete, and our balance sheet stronger than at any time in our company's history, we enter the final part of the 2026 calendar year with exciting prospects before us... we believe shareholders should expect a meaningful expansion of our operations in the coming months.
page 11No dividend paid during the year (2025: nil) and the Directors do not recommend payment of a final dividend
page 21Post year-end: helium (and small quantities of hydrocarbon) sales from M3 Helium's Hugoton and Fort Dodge (Rost 1-26) wells once consolidated
M3 Helium has been producing and selling helium for over two years; commercial production at Rost 1-26 commenced November 2025; Mendell Helium expects to report revenue from this business in future years
page 63 years on one page · FY2024–FY2026
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| Revenue | |||
| Operating profit | |||
| Profit for the year | |||
| Basic EPS | |||
| Free cash flow | |||
| Net debt (negative = net cash) | |||
| Shares in issue | |||
| Return on capital employed | — |
GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
7 figures restated in a later report
Every figure is read again from the following year’s report: 28 confirmed, 7 restated.
| Line | Year | As first filed | In the later report |
|---|---|---|---|
| FY2025 | £0FY2025 report | not printedFY2026 report | |
| FY2025 | −£949kFY2025 report | −£913kFY2026 report | |
| FY2025 | −£938kFY2025 report | −£902kFY2026 report | |
| FY2025 | £0FY2025 report | not printedFY2026 report | |
| FY2025 | −£36kFY2025 report | £0FY2026 report | |
| FY2025 | £206kFY2025 report | £136kFY2026 report | |
| FY2025 | £544kFY2025 report | £2kFY2026 report |