NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WEST) PLC
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Cash
—
Latest balance sheet
Net assets
—
Equity attributable
Employees
1,741
+1.2% highest in 3 filed years
Profit before tax
£158m
-36.5% vs 2025
Net assets
3-year trend · vs Utilities median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £408,400,000 | £536,500,000 | £457,900,000 | -14.7% | |
| Operating profit | £186,400,000 | £311,600,000 | £226,000,000 | -27.5% | |
| Profit before tax | £127,400,000 | £248,900,000 | £158,000,000 | -36.5% | |
| Net profit | £95,300,000 | £183,300,000 | £122,800,000 | -33% | |
| Cash | -£1,100,000 | -£5,900,000 | — | — | |
| Total assets less current liabilities | £3,803,500,000 | £4,056,400,000 | — | — | |
| Net assets | £1,385,100,000 | £1,545,800,000 | — | — | |
| Equity | £1,385,100,000 | £1,545,800,000 | — | — | |
| Average employees | 1,654 | 1,720 | 1,741 | +1.2% | |
| Wages | £102,400,000 | £108,700,000 | £114,100,000 | +5% | |
| Directors' remuneration | £2,788,000 | £1,376,000 | £2,546,000 | +85% | |
| Directors' pension contributions | £429,000 | £55,000 | £59,000 | +7.3% | |
| Highest paid director | £1,273,000 | £1,357,000 | £1,768,000 | +30.3% |
Values shown as filed in the company's annual accounts. — 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 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|
| Operating margin | 45.6% | 58.1% | 49.4% | |
| Net margin | 23.3% | 34.2% | 26.8% | |
| Return on capital employed | 4.9% | 7.7% | — | |
| Gearing (liabilities / total assets) | 65.5% | 64.7% | — | |
| Current ratio | 1.13x | 0.94x | — | |
| Interest cover | 2.49x | 3.84x | 2.90x |
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 3 times since incorporation
- NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WEST) PLC 2022-09-20 → present
- WESTERN POWER DISTRIBUTION (SOUTH WEST) PLC 2001-07-31 → 2022-09-20
- SOUTH WESTERN ELECTRICITY PLC 2001-07-27 → 2001-07-31
- SOUTH WESTERN ELECTRICITY PLC 1989-04-01 → 2001-07-27
Audit & accounting basis
- Accounting basis
- FRS 101 (UK-adopted IFRS)
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors consider that the Company has adequate resources to remain in operational existence for at least one year from the date the financial statements are signed. For this reason they continue to adopt the going concern basis in preparing the financial statements.”
Significant events
- “Subsequent to the year end, on 23 July 2026, a dividend of £35.0m has been approved by the Board.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 44 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HOLLIS, Katie Suzanne | Secretary | 2024-05-31 | — | — |
| BEINART, Janette Carolyn Mitchell | Director | 2025-04-01 | Mar 1956 | British |
| BRANSTON, Paul | Director | 2023-12-15 | Nov 1975 | British |
| DILLON, Jennifer Ann | Director | 2024-04-01 | May 1972 | British |
| FUSSELL, Lindsey | Director | 2023-08-21 | Mar 1973 | British |
| O’HARA, Cordelia | Director | 2023-04-01 | Mar 1974 | British |
| PETTIFER, Darren | Director | 2022-08-17 | Apr 1980 | British |
| QUINN, Roisin Anne | Director | 2025-12-18 | Apr 1981 | Irish |
| SHARMA, Tanya Joy | Director | 2024-07-01 | Nov 1986 | British |
Show 44 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COX, Mark Richard | Secretary | 2023-06-16 | 2024-05-31 |
| EDMUNDS, Robin David | Secretary | 1993-10-04 | 2000-01-31 |
| FOSTER, Stephen Alan Thomas | Secretary | — | 1993-10-04 |
| JONES, Sally Ann | Secretary | 2000-02-01 | 2023-06-16 |
| ALLEN, Philip Gerald | Director | 2013-09-01 | 2015-02-09 |
| BARBROOK, Laura Sophie Scudamore, Dr | Director | 2022-01-31 | 2024-03-31 |
| BONNER, John Albert Gordon | Director | — | 1995-09-21 |
| BOWERS, William Paul | Director | 2000-04-01 | 2001-04-02 |
| CAMPBELL, Justine | Director | 2022-01-31 | 2024-06-30 |
| CARDEW, Anthony John | Director | 2017-03-23 | 2025-04-23 |
| CARSON, Malcolm James, Dr | Director | — | 1995-09-21 |
| FEERRAR, Stephen Jeffrey | Director | 1996-07-01 | 1999-03-16 |
| FISHER, Charles Murray | Director | — | 1995-03-31 |
| FLETCHER, Maurice Edwin | Director | 2011-10-31 | 2023-03-31 |
| FLETCHER, Maurice Edwin | Director | 1999-10-01 | 2004-03-31 |
| GOUGH, John Osborne | Director | — | 1995-12-31 |
| HALLADAY, Graham Roy | Director | 2019-01-14 | 2026-03-18 |
| HARRELD, Carson Bivins | Director | 2000-04-01 | 2001-03-01 |
| HARRELD, Carson Bivins | Director | 1995-09-21 | 1999-05-31 |
| HARRELSON, Alan Wade | Director | 1995-09-21 | 1997-10-23 |
| HARRIS, David Gene | Director | 2004-04-01 | 2013-08-31 |
| HICHENS, Antony Peverell | Director | — | 1995-12-31 |
| ISAAC, Anthony Eric | Director | 1995-04-01 | 1995-12-31 |
| KLAPPA, Gale Edward | Director | 1998-12-10 | 2001-04-02 |
| KLAPPA, Gale Edward | Director | 1995-09-21 | 1998-12-10 |
| KLEPPINGER, Dale Mark | Director | 2000-02-29 | 2007-02-14 |
| KLEPPINGER, Dale Mark | Director | 1999-03-16 | 2000-02-28 |
| KLINGENSMITH, Ricky Lee | Director | 2001-04-23 | 2015-07-16 |
| NICOL, Andrew William | Director | — | 1993-08-31 |
| OOSTHUIZEN, Daniel Charl Stephanus | Director | 1999-06-01 | 2018-03-31 |
| OWEN, Richard Foster | Director | 2000-04-01 | 2002-09-06 |
| PETERSEN, Roger Lynn | Director | 1996-07-01 | 1999-03-16 |
| SAUNDERS, Charles Philip | Director | 1995-09-21 | 1999-10-01 |
| SEED, John Junior | Director | — | 1995-09-21 |
| SEELAUS, Timothy John | Director | 2000-07-20 | 2001-04-23 |
| SELLERS, John Ernest | Director | — | 1995-09-21 |
| SLEIGHTHOLM, Alison Jane | Director | 2018-04-01 | 2023-12-15 |
| SPENCE, William Harold | Director | 2015-07-16 | 2017-07-31 |
| SWIFT, Philip | Director | 2013-07-01 | 2023-03-31 |
| SYMONS, Robert Arthur | Director | 1997-10-23 | 2018-11-07 |
| WARREN, Maurice Eric | Director | 1993-01-26 | 1995-09-21 |
| WATTS, Clive Royston | Director | 2014-04-01 | 2017-07-03 |
| WHITNEY, Charles W. | Director | 1995-09-21 | 1996-07-01 |
| WILLIAMS, Ian Robert | Director | 2015-03-09 | 2022-07-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| National Grid Electricity Distribution Network Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 357 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-06-03 RESOLUTIONS Resolution
- 2024-05-15 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-04 | TM01 | officers | Termination director company with name termination date | |
| 2026-08-09 | AA | accounts | Accounts with accounts type full | |
| 2026-03-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-19 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-18 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-07 | AA | accounts | Accounts with accounts type full | |
| 2025-04-24 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-03 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-13 | AA | accounts | Accounts with accounts type full | |
| 2024-07-01 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-10 | RP04TM01 | officers | Second filing of director termination with name | |
| 2024-06-03 | RESOLUTIONS | resolution | Resolution | |
| 2024-05-31 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-05-31 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-05-15 | MA | incorporation | Memorandum articles | |
| 2024-04-12 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-12 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-03 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 1
- 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.