SSE HORNSEA LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

• Turnover

  +12.4%

  £2,959,600,000 → £3,325,900,000

• Cash

  —

  Not reported

• Net assets

  -11.7%

  £200,000,000 → £176,700,000

• Employees

  +5.4%

  92 → 97

• Operating profit

  +62.8%

  -£92,000,000 → -£34,200,000

• Profit before tax

  +67.4%

  -£93,700,000 → -£30,500,000

• Wages

  +6.1%

  £6,600,000 → £7,000,000

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

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.

1. SSE HORNSEA LIMITED 2002-10-11 → present
2. DYNEGY HORNSEA LIMITED 2002-07-24 → 2002-10-11
3. VELVETGLEN LIMITED 2002-06-24 → 2002-07-24

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements are prepared on a going concern basis which has been supported by the provision of a parental letter of support from SSE plc. The Group letter of support confirms that the Group will provide support to 31 December 2026 where required. The Directors are satisfied that the Group has the ability to provide this support, should it be required.”

Significant events

• “During the year, there has been lower levels of volatility in the gas markets compared to previous years. This has reduced the opportunities for the commercial team to capitalise on the fluctuations in the gas market.”
• “The exceptional item in the prior year was a net impairment of the Gas Storage sites at Atwick and Aldbrough.”
• “The Company previously auctioned gas storage capacity contracts to the market. In April 2021 and 2022 the auctions resulted in no contracts being secured and there have been no further auctions undertaken in subsequent years.”
• “The Board is committed to a net-zero future and continues to discuss and explore opportunities to convert the gas storage facilities or build new facilities owned by SSE Hornsea Limited to be suitable to store low-carbon fuels.”
• “In the current year no impairment was deemed necessary. In the prior year, as a result of a significant drop in the short term forward gas prices, it was determined that an impairment charge of £134.1m should be recognised on the assets.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.