SOUTH EASTERN POWER NETWORKS PLC
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Cash
£158m
+358% highest in 3 filed years
Net assets
£1.5bn
-0.5% vs 2025
Employees
—
Average over period
Profit before tax
£155m
-56.8% lowest in 3 filed years
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 | £479,500,000 | £669,000,000 | £532,400,000 | -20.4% | |
| Operating profit | £206,500,000 | £405,300,000 | £206,700,000 | -49% | |
| Profit before tax | £163,400,000 | £358,500,000 | £154,700,000 | -56.8% | |
| Net profit | £118,900,000 | £269,400,000 | £115,200,000 | -57.2% | |
| Cash | £21,000,000 | £34,500,000 | £158,000,000 | +358% | |
| Total assets less current liabilities | £3,920,200,000 | £4,143,700,000 | £4,348,100,000 | +4.9% | |
| Net assets | £1,337,700,000 | £1,525,500,000 | £1,518,000,000 | -0.5% | |
| Equity | £1,337,700,000 | £1,525,500,000 | £1,518,000,000 | -0.5% | |
| Average employees | 0 | 0 | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £105,000 | £120,000 | £120,000 | 0% | |
| Highest paid director | £52,500 | £60,000 | £60,000 | 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 |
|---|---|---|---|---|
| Operating margin | 43.1% | 60.6% | 38.8% | |
| Net margin | 24.8% | 40.3% | 21.6% | |
| Return on capital employed | 5.3% | 9.8% | 4.8% | |
| Gearing (liabilities / total assets) | 68.4% | 65.8% | 69.1% | |
| Current ratio | 1.62x | 1.57x | 1.26x | |
| Interest cover | 3.13x | 6.70x | 3.08x |
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 5 times since incorporation
- SOUTH EASTERN POWER NETWORKS PLC 2011-03-31 → present
- SOUTH EASTERN POWER NETWORKS LIMITED 2011-01-24 → 2011-03-31
- SOUTH EASTERN POWER NETWORKS PLC 2010-11-01 → 2011-01-24
- EDF ENERGY NETWORKS (SPN) PLC 2003-06-30 → 2010-11-01
- SEEBOARD POWER NETWORKS PLC 2001-06-06 → 2003-06-30
- HOME GAS COMPANY LIMITED 1995-04-07 → 2001-06-06
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have performed an assessment of going concern based on detailed cash flow forecasts for a period of at least 12 months from the date of these financial statements. Stress testing indicates the level of decline in the Company's financial performance resulting in a financial covenant breach is considered remote. Accordingly, the Directors are satisfied it is appropriate to adopt the going concern basis of accounting.”
Significant events
- “On 7 May 2026, Engie UK 2026 Limited, an indirect wholly owned subsidiary of Engie S.A., a French multinational energy company, acquired 100% of the Group and its subsidiaries, including the Company.”
- “In March 2026, the Group issued a €500.0m bond, maturing in 2038 bearing interest at a fixed rate of 4.102%. This bond was simultaneously swapped into sterling of £433.0m at a fixed interest rate of 5.7355%.”
- “The decision of the First-tier Tribunal was released in June 2025 which decided in favour of the tax authorities. The Company has appealed against the decision, with the next hearing at the Upper Tribunal due to be held in November 2026.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
12 active · 28 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PACE, Andrew Charles | Secretary | 2018-04-30 | — | — |
| CHAN, Kee Ham | Director | 2012-09-10 | Feb 1963 | British |
| CHAN, Loi Shun | Director | 2012-09-10 | Aug 1962 | Chinese |
| CLARKE, Christopher John David | Director | 2014-03-31 | Mar 1950 | British |
| HUNTER, Andrew John | Director | 2010-10-29 | Oct 1958 | British |
| JEFFERY, Paul Robert | Director | 2014-03-31 | Apr 1955 | British |
| KAM, Hing Lam | Director | 2010-11-24 | Oct 1946 | Chinese |
| MACRAE, Duncan Nicholas | Director | 2011-06-08 | Sep 1970 | British |
| MCGEE, Neil Douglas | Director | 2010-10-29 | Oct 1951 | Australian |
| SCARSELLA, Basil | Director | 2010-11-24 | Sep 1955 | Australian |
| TSAI, Chao Chung, Charles | Director | 2014-02-28 | Jul 1957 | Canadian |
| YU, Ka Man Jenny | Director | 2023-07-01 | Apr 1972 | Chinese |
Show 28 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BAKER, Christopher | Secretary | 2010-10-29 | 2017-11-23 |
| BLACKBURN, William Nathan | Secretary | 2017-11-23 | 2018-04-30 |
| HIGSON, Robert Ian | Secretary | 2002-11-15 | 2009-09-17 |
| NAGLE, Michael | Secretary | 2000-05-12 | 2002-11-15 |
| SOUTO, Joe | Secretary | 2009-09-17 | 2010-10-29 |
| TORMEY, Sheila Grace | Secretary | 1995-04-07 | 2000-05-12 |
| SWIFT INCORPORATIONS LIMITED | Corporate Nominee Secretary | 1995-04-07 | 1995-04-07 |
| BAKER, Christopher John | Director | 2000-05-12 | 2001-10-25 |
| CADOUX HUDSON, Humphrey Alan Edward | Director | 2001-10-25 | 2009-04-01 |
| CHONG, Hok Shan | Director | 2010-11-24 | 2021-05-21 |
| CUTTILL, Paul Andrew | Director | 2003-06-25 | 2008-06-10 |
| DE RIVAZ, Vincent | Director | 2002-07-29 | 2010-10-29 |
| ELLIS, Thomas James | Director | 2001-10-25 | 2002-07-29 |
| FERRARI, Laurent | Director | 2008-07-21 | 2010-10-29 |
| FERRARI, Laurent | Director | 2008-07-21 | 2008-07-21 |
| HARPLEY, Richard Martin | Director | 2010-10-20 | 2010-10-29 |
| IP, Tak Chuen Edmond | Director | 2010-11-24 | 2012-10-15 |
| KUSTERER, Thomas Andreas | Director | 2009-04-01 | 2010-10-29 |
| NAGLE, Michael | Director | 1995-04-07 | 2001-10-25 |
| NGAN, Mei Fan | Director | 2011-03-02 | 2021-05-21 |
| PAVIA, Michael James | Director | 2001-10-25 | 2003-06-25 |
| TAME, James Edward | Director | 2001-10-25 | 2003-06-25 |
| TORMEY, Sheila Grace | Director | 1995-04-07 | 2000-05-12 |
| TSAI, Chao Chung Charles, Dr | Director | 2010-11-24 | 2014-02-28 |
| TSO, Kai Sum | Director | 2010-11-24 | 2013-02-08 |
| WAN, Chi Tin | Director | 2013-02-08 | 2023-07-01 |
| WEIGHT, John | Director | 2001-10-25 | 2002-07-29 |
| YUEN, Sui See | Director | 2010-11-24 | 2014-02-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Uk Power Networks Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 252 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-07 | AA | accounts | Accounts with accounts type full | |
| 2026-06-03 | TM01 | officers | Termination director company with name termination date | |
| 2026-06-03 | TM01 | officers | Termination director company with name termination date | |
| 2026-06-02 | AP01 | officers | Appoint person director company with name date | |
| 2026-06-02 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-05-18 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-15 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-15 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-15 | TM01 | officers | Termination director company | |
| 2026-05-14 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-14 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-13 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-12 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- 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.