THAMES WATER UTILITIES FINANCE PLC
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Cash
£1.5m
+7.1% vs 2025
Net assets
-£5.2bn
-38.9% lowest in 3 filed years
Employees
0
Average over period
Profit before tax
-£1.5bn
+62.6% vs 2025
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
In their assessment, the Directors have identified a material uncertainty related to events that are outside the control of the Board and may cast significant doubt on the Company's ability to continue as a going concern. Given the dependency on TWUL, this material uncertainty also applies to the Company.
-
Going-concern uncertainty disclosed
-
Negative shareholders' funds
Net assets
3-year trend · vs Financials 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 | — | — | — | — | |
| Operating profit | -£100,000 | -£200,000 | -£300,000 | -50% | |
| Profit before tax | £106,800,000 | -£3,958,700,000 | -£1,479,500,000 | +62.6% | |
| Net profit | £80,700,000 | -£3,959,600,000 | -£1,456,600,000 | +63.2% | |
| Cash | £1,600,000 | £1,400,000 | £1,500,000 | +7.1% | |
| Total assets less current liabilities | — | — | — | — | |
| Net assets | £216,600,000 | -£3,743,000,000 | -£5,199,600,000 | -38.9% | |
| Equity | £216,600,000 | -£3,743,000,000 | -£5,199,600,000 | -38.9% | |
| Average employees | 0 | 0 | 0 | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £0 | £0 | — | — | |
| Directors' pension contributions | £0 | £0 | — | — |
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 |
|---|---|---|---|---|
| Gearing (liabilities / total assets) | 98.6% | 133.5% | 152.6% | |
| Current ratio | — | 1.57x | 0.91x | |
| Interest cover | -0.00x | -0.00x | -0.00x |
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
- THAMES WATER UTILITIES FINANCE PLC 2018-08-31 → present
- THAMES WATER UTILITIES FINANCE LIMITED 2007-06-04 → 2018-08-31
- THAMES WATER UTILITIES FINANCE PLC 1990-03-26 → 2007-06-04
- TRUSHELFCO (NO. 1498) LIMITED CERT TO SLAUGHTER & MAY 1989-07-12 → 1990-03-26
Audit & accounting basis
- Accounting basis
- UK-adopted IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“In their assessment, the Directors have identified a material uncertainty related to events that are outside the control of the Board and may cast significant doubt on the Company's ability to continue as a going concern. Given the dependency on TWUL, this material uncertainty also applies to the Company.”
Significant events
- “A restructuring plan was court sanctioned in February 2025, which enabled the extension of the maturity of all of the Company's outstanding debt principal repayments by two years.”
- “TWUL announced in 2024 that following receipt of the PR24 draft determination it would pursue all options to secure an equity investment from new or existing shareholders.”
- “On 28 May 2025, Ofwat issued two penalties to TWUL: a penalty notice for £18.2 million... and an enforcement order which... required TWUL within 6 months to submit remediation plans to Ofwat.”
- “On 10 July 2026 Moody's downgraded the Class A debt rating from Caa3 (stable outlook) to Ca (stable outlook).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 41 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| FRAISER, Andrew | Secretary | 2024-03-27 | — | — |
| DE BRUNNER, Aidan Whiteman | Director | 2024-11-14 | Jun 1972 | British,Irish |
| GETHING, Julian | Director | 2025-01-22 | Feb 1965 | British |
| LAND, Nicholas Charles Edward | Director | 2024-05-22 | Feb 1948 | British |
| MONTAGUE, Adrian Alastair, Sir | Director | 2024-05-22 | Feb 1948 | British |
| PEARSON, Ian Phares | Director | 2024-05-22 | Apr 1959 | British |
| ROBSON, Neil Jonathan | Director | 2024-11-14 | Feb 1969 | British |
| WESTON, Christopher Phillip Anthony | Director | 2024-05-22 | Jan 1964 | British |
Show 41 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BADCOCK, David | Secretary | — | 2001-01-01 |
| BILLETT, Sonia | Secretary | 2018-11-28 | 2022-05-25 |
| BYRNE, Simon Harvey | Secretary | 2007-03-20 | 2007-08-24 |
| CAMPBELL-WALES, Carolyn | Secretary | 2014-11-27 | 2016-07-08 |
| DAVIS, Christopher Charles | Secretary | 2006-06-30 | 2007-06-30 |
| HANSON, Joel Edmund | Secretary | 2007-08-24 | 2014-11-27 |
| HUGHES, David Jonathan | Secretary | 2014-11-27 | 2022-05-27 |
| JOHNSON, Keith Graham | Secretary | 2001-01-01 | 2006-06-30 |
| LEWIS, Sally | Secretary | 2024-02-07 | 2024-03-27 |
| SARSTED, Wendy Helena | Secretary | 2007-03-20 | 2007-08-24 |
| SLOAN, Emma Victoria | Secretary | 2016-09-01 | 2018-04-20 |
| SWIERGON, Benjamin Michal | Secretary | 2022-05-27 | 2024-02-07 |
| ALEXANDER, William John, Dr | Director | 1992-10-06 | 2002-09-20 |
| ANDERSON, Craig | Director | 2002-06-05 | 2005-12-14 |
| BAMFORD, Mark Christopher | Director | 2018-07-26 | 2022-07-08 |
| BEAUMONT, Andrew Thomas | Director | 2006-05-04 | 2016-12-31 |
| BLACK, Abigail Patricia | Director | 2023-02-22 | 2023-05-05 |
| BLOOR, Robert David | Director | 2007-10-05 | 2008-09-30 |
| BOLTON, Tom | Director | 2017-09-27 | 2023-02-22 |
| BOTTCHER, Werner | Director | 2005-02-01 | 2006-06-20 |
| BOUDIER, James Kendall | Director | — | 2002-06-05 |
| BUCK, Steven John | Director | 2005-12-14 | 2006-07-25 |
| BUNKER, Christopher Jonathan | Director | 2000-04-30 | 2004-03-31 |
| CHADWICK, John Robert | Director | 2007-06-12 | 2007-11-23 |
| DEARNLEY, Ian Keith | Director | 2023-05-05 | 2024-07-10 |
| GREGG, David Stephen | Director | 2023-02-22 | 2024-07-10 |
| HARPER, William Ronald, Mr. | Director | — | 1994-07-01 |
| HOFFMAN, Michael Richard | Director | — | 1996-03-31 |
| KERR, Paul | Director | 2013-09-06 | 2018-04-13 |
| LEDGER, Stuart Neil | Director | 2008-09-30 | 2017-09-29 |
| LEWIS, Tonia | Director | 2017-09-27 | 2018-07-26 |
| LUFFRUM, David John | Director | — | 2000-04-30 |
| MANUELPILLAI, Dinesh Michael | Director | 2019-07-01 | 2023-02-22 |
| MOGG, Jonathan | Director | 2023-02-22 | 2023-05-05 |
| PELCZER, Jeremy David | Director | 2006-05-04 | 2006-12-01 |
| READ, Jonathan | Director | 2023-05-05 | 2024-07-10 |
| REID, Helen Louise | Director | 2006-07-25 | 2007-06-12 |
| SEXTON, John Richard | Director | 2002-09-20 | 2005-01-31 |
| WELLER, Timothy Peter | Director | 2005-12-14 | 2006-04-06 |
| WHEELER, Stephen | Director | 2017-03-01 | 2019-07-19 |
| ZHANG, Steven Yang, Mr | Director | 2016-09-14 | 2017-09-15 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Thames Water Utilities Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 246 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-12 | AA | accounts | Accounts with accounts type full | |
| 2025-10-31 | AA | accounts | Accounts with accounts type full | |
| 2025-10-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-06 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-03-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-01-31 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-15 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-15 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-01 | AA | accounts | Accounts with accounts type full | |
| 2024-07-10 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-10 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-10 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-28 | CH01 | officers | Change person director company with change date | |
| 2024-06-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-05 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-02 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-03-28 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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.