NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WALES) PLC
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2025-03-31
Confirmation statement due
2026-10-23 (in 5mo)
Last made up 2025-10-09
Watchouts
None on the register
Cash
£400K
+300% vs 2024
Net assets
£935M
+11.4% vs 2024
Employees
1,088
+1.6% vs 2024
Profit before tax
£178M
+103% vs 2024
Net assets
2-year trend · vs Utilities median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £267,800,000 | £368,300,000 | |
| Operating profit | £120,700,000 | £215,200,000 | |
| Profit before tax | £87,700,000 | £178,000,000 | |
| Net profit | £65,200,000 | £132,600,000 | |
| 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 |
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
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+37.5%
£267,800,000 £368,300,000
-
Cash
+300%
£100,000 £400,000
-
Net assets
+11.4%
£839,100,000 £934,900,000
-
Employees
+1.6%
1,071 1,088
-
Operating profit
+78.3%
£120,700,000 £215,200,000
-
Profit before tax
+103%
£87,700,000 £178,000,000
-
Wages
+8.4%
£66,500,000 £72,100,000
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 45.1% | 58.4% | |
| Net margin | 24.3% | 36.0% | |
| Return on capital employed | 4.5% | 7.6% | |
| Gearing (liabilities / total assets) | 70.2% | 68.9% | |
| Current ratio | -2.49x | -1.93x | |
| Interest cover | 3.09x | 4.72x |
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 2 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 1989-04-01 → 2001-07-27
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have considered the availability of facilities, the relatively stable and regulated nature of the business, the forecast long term business plan with consistent credit ratings of the Company, the existing and future forecasted covenant compliance of the Company which includes the gearing ratio and the anticipated ability of the Company to be able to raise additional long term debt in the future. The directors have also assessed the principal risks discussed in the strategic report (pages 32-35) in arriving at the going concern assumption for the preparation of the financial statements.”
Significant events
- “Subsequent to year end, in July 2025, 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 353 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 | |
|---|---|---|---|---|
| 2026-03-19 | 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 | |
| 2023-12-19 | TM01 | officers | Termination director company with name termination date | |
| 2023-11-06 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- 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.