SDN LIMITED
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Cash
—
Latest balance sheet
Net assets
£140m
-58% lowest in 3 filed years
Employees
0
Average over period
Profit before tax
£33m
-47.9% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
Following completion of the transaction, the directors do not have sufficient visibility of the ultimate parent's potential plans for the entity, including operation and funding structures... indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £57,193,000 | £47,218,000 | £43,283,000 | -8.3% | |
| Operating profit | £32,370,000 | £20,539,000 | £16,260,000 | -20.8% | |
| Profit before tax | £72,074,000 | £63,182,000 | £32,914,000 | -47.9% | |
| Net profit | £55,117,000 | £49,499,000 | £24,686,000 | -50.1% | |
| Cash | £0 | £0 | — | — | |
| Total assets less current liabilities | £782,528,000 | £332,027,000 | £139,587,000 | -58% | |
| Net assets | £782,528,000 | £332,027,000 | £139,587,000 | -58% | |
| Equity | £782,528,000 | £332,027,000 | £139,587,000 | -58% | |
| Average employees | 0 | 0 | 0 | — | |
| Wages | £0 | £0 | — | — | |
| Directors' remuneration | £0 | £0 | — | — | |
| Directors' pension contributions | £0 | £0 | — | — | |
| Highest paid director | £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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 56.6% | 43.5% | 37.6% | |
| Net margin | 96.4% | 104.8% | 57.0% | |
| Return on capital employed | 4.1% | 6.2% | 11.6% | |
| Gearing (liabilities / total assets) | 5.6% | 12.7% | 28.5% | |
| Current ratio | 17.95x | 7.89x | 3.50x |
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 1 time since incorporation
- SDN LIMITED 1998-02-09 → present
- S4C DIGITAL NETWORKS LIMITED 1997-01-24 → 1998-02-09
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“Following completion of the transaction, the directors do not have sufficient visibility of the ultimate parent's potential plans for the entity, including operation and funding structures... indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern.”
Group structure
- SDN LIMITED · parent
- DTV Services Limited 25%
- DTT Multiplex Operators Limited 33.33%
Significant events
- “On 17 December 2025, the ITV plc Group and the Trustees agreed to exit and unwind the PFP, and the partnership was dissolved on 19 December 2025.”
- “On 6 July 2026, ITV plc announced the sale of the ITV Media and Entertainment business, which includes the Company, to Sky. The transaction is subject to regulatory approvals.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 44 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BROOKE, Magnus | Director | 2012-05-21 | Oct 1971 | British |
| COUGHTRIE, David Charles | Director | 2022-05-11 | Jul 1987 | British |
Show 44 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COGHLAN, Colin John | Secretary | 2005-02-23 | 2005-04-27 |
| GLYNN, Sasha Victoria | Secretary | 2003-05-08 | 2004-07-01 |
| HARDING, Tracey Joy | Secretary | 2004-07-01 | 2005-02-23 |
| INNES, William David Wyn | Secretary | 2003-01-24 | 2003-05-08 |
| TAUTZ, Helen Jane | Secretary | 2005-04-27 | 2009-11-03 |
| THOMAS, Penry Wyn Richards | Secretary | 1997-01-30 | 2003-01-23 |
| WILLIAMS, Philip Hugh | Nominee Secretary | 1997-01-24 | 1997-01-24 |
| APPLETON, Ross Geoffrey Keegan | Director | 2018-10-01 | 2022-05-11 |
| BENNIE, Thomas Meikle | Director | 2005-01-19 | 2005-04-27 |
| BETTS, Thomas Matthew | Director | 2005-04-27 | 2012-05-21 |
| BOSTON, Oliver Paul, Doctor | Director | 2002-01-14 | 2002-12-01 |
| BRADSHAW, Charlotte | Director | 1998-11-05 | 2001-08-20 |
| BURY, Elizabeth | Director | 2001-08-20 | 2002-08-12 |
| BYRON HUGHES, Emyr | Director | 1998-09-01 | 2002-10-31 |
| BYRON HUGHES, Emyr | Director | 1997-01-24 | 1998-05-18 |
| CADBURY, Timothy Luke Martin | Director | 2017-01-17 | 2021-03-18 |
| CARTER, Stephen Andrew | Director | 2000-11-01 | 2001-08-20 |
| CARVER, Margaret Adela Miriam | Director | 2000-10-04 | 2005-04-27 |
| CHENG, Peter Wai Keung | Director | 2005-01-19 | 2005-04-27 |
| COGHLAN, Colin John | Director | 2004-12-24 | 2006-04-10 |
| CONSTABLE, Charles Alexander John | Director | 1998-05-18 | 2000-09-30 |
| DAVIDSON, Alastair Richard | Director | 2001-02-26 | 2001-08-20 |
| DAVIES, Jeremy Rupert Drury | Director | 2001-08-20 | 2002-12-01 |
| DOUGLAS, Peter Gray | Director | 2002-12-01 | 2005-04-27 |
| ELLIS, David Haydn | Director | 2002-12-01 | 2004-06-21 |
| FAIRBAIRN, Carolyn Julie | Director | 2009-04-20 | 2011-03-31 |
| FEGAN, Michael Melvyn | Director | 2005-12-01 | 2009-01-30 |
| GREEN, Michael Anthony | Director | 2005-04-27 | 2005-12-01 |
| GREGSON, Charles Henry | Director | 2000-10-04 | 2005-04-27 |
| HAMILTON FAIRLEY, Geoffrey Neil | Director | 1998-07-16 | 1998-12-22 |
| HENWOOD, Roderick Waldermar Lisle | Director | 2002-01-14 | 2002-12-01 |
| INNES, William David Wyn | Director | 1998-05-18 | 2005-04-27 |
| JONES, David Huw | Director | 1997-01-24 | 2005-04-27 |
| KNAPP, Barclay | Director | 1998-04-30 | 2001-08-20 |
| LAUGHTON, Roger Froome | Director | 1998-05-18 | 1999-04-06 |
| MILES, Mark Timothy | Director | 2001-08-20 | 2001-12-12 |
| NEWNHAM, Andrew Mark | Director | 2018-10-03 | 2019-02-28 |
| PITTS, Simon Jeremy | Director | 2006-04-10 | 2017-08-31 |
| SULEMAN, Sharjeel | Director | 2017-09-08 | 2018-10-03 |
| THORP, Jeremy Peter | Director | 1998-05-18 | 2000-10-11 |
| WAGNER, Steven | Director | 1998-07-28 | 2001-01-30 |
| WALL, Malcolm Robert | Director | 1999-04-06 | 2000-09-30 |
| WEN, Katherine | Director | 2013-05-01 | 2015-03-20 |
| WOOLFORD, Leigh James | Director | 1997-01-24 | 1997-01-24 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Itv M&E Holdings Limited | Corporate entity | Significant influence | 2025-08-13 | Active |
| Itv Holdings (Cayman) Limited | Corporate entity | Shares 75–100%, Shares 75–100% (as trust), Shares 75–100% (as firm) | 2016-04-06 | Ceased 2016-04-06 |
Filing timeline
Last 20 of 411 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-28 | AA | accounts | Accounts with accounts type full | |
| 2026-09-14 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-16 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-12-16 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-09-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-16 | AA | accounts | Accounts with accounts type full | |
| 2024-09-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-09 | AA | accounts | Accounts with accounts type full | |
| 2023-09-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-15 | AA | accounts | Accounts with accounts type full | |
| 2023-05-11 | AA | accounts | Accounts with accounts type full | |
| 2022-09-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-05-23 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-05-11 | TM01 | officers | Termination director company with name termination date | |
| 2022-05-11 | AP01 | officers | Appoint person director company with name date | |
| 2021-12-01 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2021-11-04 | AA | accounts | Accounts with accounts type full | |
| 2021-09-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-07-26 | CH01 | officers | Change person director company with change date | |
| 2021-04-09 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- 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.