SONOVATE INTERNATIONAL HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 1.3 to the financial statements which indicates that the Group will require additional equity funding and/or commitment to meet its next debt covenants test and require that existing funding facilities to be renewed within the going concern period. At the time of approving the financial statements, the process to renew existing facilities as well as raise additional equity and/or commitment has commenced but has not been secured. Therefore, these events and conditions, along with the other matters explained in note 1.3, constitute a material uncertainty that may cast significant doubt on the Group's and the parent Company's ability to continue as a going concern.

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

  -8%

  £22,371,143 → £20,588,671

• Cash

  +7.5%

  £22,153,051 → £23,816,189

• Net assets

  -197.7%

  -£2,583,792 → -£7,691,552

• Employees

  -18.2%

  198 → 162

• Operating profit

  +33.7%

  -£11,892,791 → -£7,879,138

• Profit before tax

  +31.3%

  -£14,712,938 → -£10,107,896

• Wages

  -14.3%

  £8,800,859 → £7,545,642

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. SONOVATE INTERNATIONAL HOLDINGS LIMITED 2021-10-19 → present
2. MILBURN 1892 LIMITED 2021-02-04 → 2021-10-19

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 1.3 to the financial statements which indicates that the Group will require additional equity funding and/or commitment to meet its next debt covenants test and require that existing funding facilities to be renewed within the going concern period. At the time of approving the financial statements, the process to renew existing facilities as well as raise additional equity and/or commitment has commenced but has not been secured. Therefore, these events and conditions, along with the other matters explained in note 1.3, constitute a material uncertainty that may cast significant doubt on the Group's and the parent Company's ability to continue as a going concern.”

Group structure

1. SONOVATE INTERNATIONAL HOLDINGS LIMITED · parent
   1. Sonovate Limited 100% · UK · Financial Services & Technology
   2. Sonovate Trade Receivables DAC · Ireland · Designated Activity Company
   3. Sonovate Business Services Limited 100% · UK · Dissolved 6 September 2022
   4. Sonovate US, LLC 100% · USA · Financial Services & Technology
   5. Sonovate US Servicing, LLC 100% · USA · Dormant

Significant events

• “In June 2025 the Group successfully completed the extension of its private warehouse transaction, extending the maturity of both the senior and junior notes to December 2025.”
• “In addition, the maturity of the Parent Company's on-balance sheet revolving facility of £30 million with BCI Capital was also extended to December 2025. An arrangement fee was incurred and capitalised over the period of the loan and was not included in the EIR calculation.”

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

Filings

9

last 12 months

Capital events

5

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.