1.
General Information
SONNET CAPITAL LIMITED
is a private company, limited by shares, incorporated in England & Wales, registered number
11604449
. The registered office is 143 Station Road, Hampton, Middlesex, TW12 2AL.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.4.
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
4.
Tax on Profit
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 19.0% | 19.0% |
( |
|
|
| Total tax charge for the period |
( |
|
|||
SONNET CAPITAL LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | (377,387) | 5,747 | |||
| Breakdown of tax charge is: | |||||
| Tax on profit at 19% (UK standard rate) |
( |
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses unutilised carried forward |
|
|
|||
| Total tax charge for the period | (1,092) | 1,092 | |||
Loss of £5,747 carried back to prior accounting period.
5.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 November 2024 |
|
| As at 31 October 2025 |
|
| Provision | |
| As at 1 November 2024 |
|
| Impairment losses |
|
| As at 31 October 2025 |
|
| Net Book Value | |
| As at 31 October 2025 |
|
| As at 1 November 2024 |
|
6.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors | 146,955 | 494,879 | |
7.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | - |
|
|
| Other creditors | 674,401 | 635,653 | |
| Taxation and social security | - |
|
|
|
|
|
||
SONNET CAPITAL LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
9.
Related Party Transactions
Sonnet Holdings Ltd
A company in which Mr Miller is a director and shareholder.
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Amount due from related party at the balance sheet date
|
101,851
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
103,951
|
Sonnet Direct Ltd
A company in which Mr Miller is a director and shareholder.
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Amount due from related party at the balance sheet date
|
666
|
11,560
|
Company was dissolved on 16 June 2026.
1 Newland Lincoln
A company in which Mr Miller is a director and shareholder.
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Amount due from related party at the balance sheet date
|
60
|
339,368
|
Company was dissolved on 24 February 2026.