BRITNED DEVELOPMENT LIMITED
Operating as a joint venture partially owned by National Grid, the company manages the BritNed submarine electricity interconnector cable linking the power grids of the UK and the Netherlands.
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Cash
—
Latest balance sheet
Net assets
—
Equity attributable
Employees
—
Average over period
Profit before tax
£104M
EUR 121,400,000
+61% vs 2024
Net assets
3-year trend · vs Utilities 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 | £293,956,279 | £112,216,031 | £141,363,052 | +26% | |
| Operating profit | £277,239,606 | £66,438,063 | £106,129,447 | +59.7% | |
| Profit before tax | £275,353,622 | £64,637,805 | £104,072,010 | +61% | |
| Net profit | £208,829,833 | £47,492,499 | £80,411,487 | +69.3% | |
| Cash | £52,636,091 | £65,495,071 | — | — | |
| Total assets less current liabilities | — | — | — | — | |
| Net assets | £355,165,024 | £348,992,713 | — | — | |
| Equity | £355,165,024 | £348,992,713 | — | — | |
| Average employees | 0 | 0 | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | — | — | — | — |
Figures converted to GBP from EUR at 0.857 per EUR (Frankfurter spot rate) — hover any figure for the original. — 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 | 94.3% | 59.2% | 75.1% | |
| Net margin | 71.0% | 42.3% | 56.9% | |
| Gearing (liabilities / total assets) | 26.5% | 27.9% | — | |
| Current ratio | 2.33x | 2.16x | — | |
| Interest cover | — | 28.70x | 34.39x |
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
- BRITNED DEVELOPMENT LIMITED 2001-08-07 → present
- MEAUJO (544) LIMITED 2001-07-12 → 2001-08-07
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors of BritNed are not aware of any material uncertainties related to events or conditions that may cast significant doubt over the Company's ability to continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”
Significant events
- “A cable fault occurred onshore in the Netherlands on 6th December 2024, with the interconnector returning to commercial service on 27th January 2025.”
- “During 2025, BritNed experienced 1 short monopole unplanned outage with the issue that caused the outage being quickly resolved.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 36 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HOLLIS, Katie Suzanne | Secretary | 2023-11-06 | — | — |
| DIJCKMANS, Jan-Paul | Director | 2019-10-01 | Nov 1972 | Dutch |
| SEDLER, Rebecca | Director | 2023-04-01 | Dec 1977 | British |
| SEMAL, Clara | Director | 2023-10-12 | Jul 1989 | Belgian |
| WOESSINK, Frank | Director | 2025-08-01 | May 1982 | Dutch |
Show 36 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BARNES, Megan | Secretary | 2018-11-30 | 2022-11-18 |
| FORWARD, David Charles | Secretary | 2001-09-28 | 2013-11-30 |
| HAGAN, Lawrence | Secretary | 2021-06-30 | 2023-10-26 |
| MORGAN, Alice Parker | Secretary | 2016-05-10 | 2018-11-30 |
| RAYNER, Heather Maria | Secretary | 2013-12-19 | 2016-03-31 |
| WHINCUP, David George | Secretary | 2016-05-10 | 2018-07-13 |
| PHILSEC LIMITED | Corporate Nominee Secretary | 2001-07-12 | 2001-09-28 |
| ADAMS, Leslie | Director | 2001-09-28 | 2005-09-29 |
| BOREHAM, Peter John | Director | 2012-09-15 | 2013-08-08 |
| BUTTERWORTH, Jonathan | Director | 2015-07-17 | 2021-05-01 |
| COCHRANE, John Gregory | Director | 2007-06-04 | 2012-09-15 |
| DIETZ, Thorsten | Director | 2020-07-01 | 2025-01-01 |
| FRICKE, Guido Thomas | Director | 2011-11-02 | 2020-07-01 |
| GORT, Richard, Dr | Director | 2025-01-01 | 2025-08-01 |
| HARTMAN, Alexander Adriaan | Director | 2004-01-01 | 2019-10-01 |
| HUMPHREYS, Stuart Calvin | Director | 2008-10-10 | 2012-10-18 |
| JAGER, Otto | Director | 2011-09-22 | 2011-11-02 |
| JOHNSON, Paul James | Director | 2013-08-08 | 2014-01-02 |
| KEUS, Willem | Director | 2008-01-31 | 2011-03-28 |
| KLIFFEN, Gerrit | Director | 2001-09-28 | 2004-01-01 |
| LALLI, Sandeep Kaur | Director | 2022-07-07 | 2023-10-12 |
| LANGWORTH, David William | Director | 2002-05-30 | 2003-10-21 |
| MCCORMICK, Terence | Director | 2012-10-18 | 2013-08-08 |
| MEDALOVA, Nicola Anne | Director | 2021-05-01 | 2023-04-01 |
| NAEIJE, Willem Jan, Dr | Director | 2001-11-29 | 2008-01-31 |
| NICOLL, Graham Roy | Director | 2004-11-22 | 2007-10-04 |
| REES, David Rocyn | Director | 2005-09-29 | 2006-10-02 |
| ROSE, Matthew Ferrier | Director | 2003-10-22 | 2004-11-22 |
| SHARPLES, Edgar Rowan | Director | 2007-10-04 | 2008-10-10 |
| SIDES, Nick | Director | 2015-04-01 | 2021-08-01 |
| STEELE, Graeme Edward | Director | 2014-01-02 | 2015-04-01 |
| TAYLOR, Julie Anne | Director | 2021-08-01 | 2022-07-07 |
| TRAIN, Christopher | Director | 2006-10-02 | 2007-06-04 |
| VEAL, Christopher Michael John | Director | 2001-09-28 | 2002-05-30 |
| WATERS, Christopher John | Director | 2013-08-08 | 2015-07-17 |
| MEAUJO INCORPORATIONS LIMITED | Corporate Nominee Director | 2001-07-12 | 2001-09-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| National Grid Interconnector Holdings Limited | Corporate entity | Shares 25–50%, Voting 25–50%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 200 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-26 | AA | accounts | Accounts with accounts type full | |
| 2025-09-17 | AA | accounts | Accounts with accounts type full | |
| 2025-08-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-24 | AA | accounts | Accounts with accounts type full | |
| 2023-11-15 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-10-27 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-10-25 | TM01 | officers | Termination director company with name termination date | |
| 2023-10-25 | AP01 | officers | Appoint person director company with name date | |
| 2023-08-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-11 | AA | accounts | Accounts with accounts type full | |
| 2023-04-12 | TM01 | officers | Termination director company with name termination date | |
| 2023-04-12 | AP01 | officers | Appoint person director company with name date | |
| 2022-11-23 | TM01 | officers | Termination director company | |
| 2022-11-22 | TM02 | officers | Termination secretary company with name termination date | |
| 2022-09-08 | 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
- 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.