SOCHITEL UK LTD

• ⚠

  Material uncertainty over going concern

  We draw attention to the Balance Sheet in the financial statements, which indicates that the company incurred a net loss of £2,207,596 during the year ended 31 December 2024 and, as of that date, the company's current liabilities exceeded its total assets by £2,742,468. As stated in note 1.2, these events or conditions, along with other matters as set forth in note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

• ◆

  Audit opinion: Qualified

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

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

• Turnover

  -7.4%

  £24,147,213 → £22,359,965

• Cash

  -19.1%

  £202,431 → £163,861

• Net assets

  -373.4%

  -£591,244 → -£2,798,840

• Employees

  -5.6%

  18 → 17

• Operating profit

  +19.8%

  -£2,723,887 → -£2,184,998

• Profit before tax

  +19.3%

  -£2,736,761 → -£2,207,596

• Wages

  -6.3%

  £978,131 → £916,564

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

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.

1. SOCHITEL UK LTD 2007-03-19 → present
2. SOCHI TEL UK LTD 2006-07-06 → 2007-03-19

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

MGI Midgley Snelling LLP

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“We draw attention to the Balance Sheet in the financial statements, which indicates that the company incurred a net loss of £2,207,596 during the year ended 31 December 2024 and, as of that date, the company's current liabilities exceeded its total assets by £2,742,468. As stated in note 1.2, these events or conditions, along with other matters as set forth in note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. SOCHITEL UK LTD · parent
   1. Nomiworld Limited 99% · Nigeria · Sale of mobile phone airtime and digital vouchers

Significant events

• “Foreign exchange losses of £2,031,906 (2023 - £1,483,422) have been recognised resulting, primarily, from the depreciation of the Nigerian Naira.”
• “While the directors acknowledge the second year of losses, they continue with the implementation of strategic initiatives aimed at enhancing revenue, improving gross profit margins, and optimising cost control measures. These actions are expected to strengthen the company's financial position moving forward and year-to-date results for 2025 continue to show a return to profit.”

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

Filings

4

last 12 months

Capital events

0

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.