NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WALES) PLC
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Cash
—
Latest balance sheet
Net assets
—
Equity attributable
Employees
—
Average over period
Profit before tax
£108m
-39.1% 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 | £267,800,000 | £368,300,000 | £295,300,000 | -19.8% | |
| Operating profit | £120,700,000 | £215,200,000 | £147,800,000 | -31.3% | |
| Profit before tax | £87,700,000 | £178,000,000 | £108,400,000 | -39.1% | |
| Net profit | £65,200,000 | £132,600,000 | £81,900,000 | -38.2% | |
| Cash | £100,000 | £400,000 | — | — | |
| Total assets less current liabilities | £2,696,300,000 | £2,843,200,000 | — | — | |
| Net assets | £839,100,000 | £934,900,000 | — | — | |
| Equity | £839,100,000 | £934,900,000 | — | — | |
| Average employees | 1,071 | 1,088 | — | — | |
| Wages | £66,500,000 | £72,100,000 | — | — | |
| Directors' remuneration | £1,530,000 | £1,235,000 | — | — | |
| Directors' pension contributions | £114,000 | £86,000 | — | — | |
| Highest paid director | £3,710,000 | £3,270,000 | — | — |
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 | 45.1% | 58.4% | 50.1% | |
| Net margin | 24.3% | 36.0% | 27.7% | |
| Return on capital employed | 4.5% | 7.6% | — | |
| Gearing (liabilities / total assets) | 70.2% | 68.9% | — | |
| Interest cover | 3.09x | 4.72x | 3.19x |
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 WALES) PLC 2022-09-21 → present
- WESTERN POWER DISTRIBUTION (SOUTH WALES) PLC 2001-07-31 → 2022-09-21
- SOUTH WALES ELECTRICITY PLC 2001-07-27 → 2001-07-31
- SOUTH WALES ELECTRICITY PLC 1989-04-01 → 2001-07-27
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Significant events
- “Subsequent to 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 · 40 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 40 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COX, Mark Richard | Secretary | 2023-06-16 | 2024-05-31 |
| CURTIS, Richard Gregory | Secretary | 1996-02-27 | 2001-03-09 |
| HOWARD, Kenneth John | Secretary | — | 1996-02-27 |
| JONES, Sally Ann | Secretary | 2001-03-09 | 2023-06-16 |
| ALLEN, Philip Gerald | Director | 2013-09-01 | 2015-02-09 |
| AUER, Adrian Richard | Director | 1995-07-07 | 1996-01-31 |
| BARBROOK, Laura Sophie Scudamore, Dr | Director | 2022-01-31 | 2024-03-31 |
| BROOKER, Michael Peter, Dr | Director | 1999-07-23 | 2001-03-21 |
| CAMPBELL, Justine | Director | 2022-01-31 | 2024-06-30 |
| CARDEW, Anthony John | Director | 2017-03-23 | 2025-04-23 |
| EDWARDS, Graham Winston | Director | 1996-03-31 | 2001-03-21 |
| EVANS, John Wynford | Director | — | 1995-12-31 |
| FLETCHER, Maurice Edwin | Director | 2011-10-31 | 2023-03-31 |
| FLETCHER, Maurice Edwin | Director | 2001-05-17 | 2004-03-31 |
| GIBBARD, David Ronald | Director | — | 1996-03-31 |
| HALLADAY, Graham Roy | Director | 2019-01-14 | 2026-03-18 |
| HARRIS, David Gene | Director | 2004-04-01 | 2013-08-31 |
| HAWKER, Graham Alfred | Director | 1996-01-30 | 2000-09-15 |
| JONES, Christopher Alun | Director | 1998-03-12 | 2000-11-03 |
| JONES, David Harold | Director | — | 1993-12-31 |
| KENDALL, David William | Director | 1993-07-01 | 1996-02-01 |
| KLINGENSMITH, Ricky Lee | Director | 2007-02-14 | 2015-07-16 |
| MACKEY, Michael David | Director | 1993-06-01 | 2000-02-17 |
| MILES, Gerwyn John | Director | 1996-01-30 | 2001-09-28 |
| MORGAN, Peter William Lloyd | Director | — | 1996-02-01 |
| MYRING, David Reece | Director | — | 1995-09-29 |
| OOSTHUIZEN, Daniel Charl Stephanus | Director | 2001-01-04 | 2018-03-31 |
| PHILLIPS, Peter John, Sir | Director | — | 1996-02-01 |
| POLLARD, Vivien Mary | Director | — | 1996-02-01 |
| PROSSER, David John | Director | — | 1996-02-01 |
| ROBERTS, John Edward | Director | 1996-01-30 | 1999-05-25 |
| SAMUEL, David Byron | Director | — | 1993-07-31 |
| 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 | 2000-09-15 | 2018-11-07 |
| VAUGHAN, Stephen Gareth | Director | 1997-07-01 | 1998-03-12 |
| WALKER, Andrew John | Director | 1993-12-03 | 1996-01-31 |
| WATTS, Clive Royston | Director | 2014-04-01 | 2017-07-03 |
| 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 355 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-05-15 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 | |
| 2026-03-19 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-18 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 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 | |
| 2024-10-09 | 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 | |
| 2024-05-31 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-05-31 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-05-15 | RESOLUTIONS | resolution | Resolution | |
| 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 | |
| 2023-12-22 | AP01 | officers | Appoint person director company with name date |
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.