NORTHERN GAS NETWORKS LIMITED
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Cash
£39m
Latest balance sheet
Net assets
£635m
Equity attributable
Employees
1,555
Average over period
Profit before tax
£200m
Period ending 2024-03-31
Watch the reel
Our short-form breakdown of NORTHERN GAS NETWORKS LIMITED's latest filing
Northern Gas Networks just filed its latest accounts. Turnover is up 13% to £595m, driven by Ofgem allowances, and operating profit hit £254m. 💷
Net assets
1-year trend · vs Industrials median
Accounts
1-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | Δ vs prior |
|---|---|---|---|
| Turnover | £538,112,000 | — | |
| Operating profit | £248,981,000 | — | |
| Profit before tax | £200,473,000 | — | |
| Net profit | £153,504,000 | — | |
| Cash | £39,098,000 | — | |
| Total assets less current liabilities | £3,118,357,000 | — | |
| Net assets | £634,633,000 | — | |
| Equity | £634,633,000 | — | |
| Average employees | 1,555 | — | |
| Wages | £81,072,000 | — | |
| Directors' remuneration | £1,080,000 | — | |
| Highest paid director | £1,324,000 | — |
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 —. Year-on-year comparison hidden: this filing's period length differs materially from the prior year. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 |
|---|---|---|
| Operating margin | 46.3% | |
| Net margin | 28.5% | |
| Return on capital employed | 8.0% | |
| Gearing (liabilities / total assets) | 80.8% | |
| Current ratio | 1.45x | |
| Interest cover | 4.77x |
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
- NORTHERN GAS NETWORKS LIMITED 2005-06-01 → present
- BLACKWATER F LIMITED 2004-06-30 → 2005-06-01
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have made enquiries and reviewed the forecasts for the going concern period of 12 months from the date the financial statements are approved for issue, and have also considered a longer viability period to December 2030 which include assessment of covenants, and in light of the facilities available, have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities for at least 12 months from the date of approval of the accounts. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.”
Group structure
- NORTHERN GAS NETWORKS LIMITED · parent
- Northern Gas Networks Finance Plc 100%
- Northern Gas Networks Operations Limited 100%
- Northern Gas Networks Pensions Trustee Limited 100%
Significant events
- “During May 2025 a third party damaged a Northern Gas Networks intermediate pressure gas main in north-east England resulting in involuntary gas loss to the atmosphere amounting to 20.37 Gwh which is equivalent to 24,985 tCO2e.”
- “Post year end, dividends of 28.95p per share were paid on 22 June 2026 (£20.75m). On 7 May 2026 the 11.6% shareholding held by SAS Trustee Corporation was transferred to TCoropIM Unlisted Infrastructure with shares being held by JP Morgan Nominees Australia Pty as a custodian.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
12 active · 32 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| O'CONNELL, Alex | Secretary | 2019-03-01 | — | — |
| BEER, Simon Daniel | Director | 2016-12-23 | Jun 1980 | British |
| BURNHAM, John Richard | Director | 2014-04-01 | Sep 1954 | British |
| CHAN, Loi Shun | Director | 2012-08-13 | Aug 1962 | Chinese |
| HORSLEY, Mark John | Director | 2011-01-04 | May 1959 | British |
| HUNTER, Andrew John | Director | 2006-12-01 | Oct 1958 | British |
| KAM, Hing Lam | Director | 2005-05-31 | Oct 1946 | Chinese |
| MACRAE, Duncan Nicholas | Director | 2011-06-21 | Sep 1970 | British |
| MCGEE, Neil Douglas | Director | 2006-07-04 | Oct 1951 | Australian |
| SLEIGHTHOLM, Alison Jane | Director | 2026-03-01 | Oct 1963 | British |
| TSAI, Chao Chung, Charles | Director | 2014-02-28 | Jul 1957 | Canadian |
| YU, Jenny Ka Man | Director | 2023-07-01 | Apr 1972 | Chinese |
Show 32 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ASHWORTH, Michael Gregory | Secretary | 2005-06-11 | 2019-03-01 |
| DURRANT, Andrew Peter | Secretary | 2004-08-26 | 2005-05-31 |
| EVES, Richard Anthony | Secretary | 2004-06-30 | 2005-05-31 |
| STOBBE, Robert | Secretary | 2005-05-31 | 2005-06-11 |
| BROOK, Christopher John | Director | 2007-01-02 | 2007-04-12 |
| BUCK, Colin | Director | 2004-08-27 | 2005-05-31 |
| CORNISH, Charles Thomas | Director | 2009-05-19 | 2010-01-12 |
| CORNISH, Charles Thomas | Director | 2007-04-12 | 2007-12-02 |
| DAVIS, Ian Christopher | Director | 2005-04-15 | 2005-05-31 |
| DORRIAN, John Daniel | Director | 2007-10-08 | 2008-04-25 |
| DURRANT, Andrew Peter | Director | 2004-06-30 | 2004-08-27 |
| EVES, Richard Anthony | Director | 2004-06-30 | 2004-08-27 |
| FAIRBAIRN, Mark Robert | Director | 2004-08-27 | 2005-05-31 |
| FRAME, Frank Riddell | Director | 2005-05-31 | 2011-11-21 |
| FRASER, Steven Richard | Director | 2007-12-02 | 2009-05-19 |
| HALSEY, David John | Director | 2004-08-27 | 2005-04-15 |
| HOLLIDAY, Steven John | Director | 2004-08-27 | 2005-05-31 |
| HUNTER, Andrew John | Director | 2005-05-31 | 2006-07-04 |
| KAY, Alison Barbara | Director | 2005-05-20 | 2005-05-31 |
| KWAN BING SING, Eric | Director | 2005-05-31 | 2006-12-01 |
| LATHAM, Daniel Vincent | Director | 2005-05-31 | 2007-10-08 |
| LEONG, Sara | Director | 2013-03-04 | 2016-11-18 |
| O'SULLIVAN, James Christopher | Director | 2004-08-27 | 2005-05-31 |
| ROBINSON, Michael Charles | Director | 2008-04-25 | 2013-03-04 |
| ROGERSON, Paul | Director | 2014-04-01 | 2025-07-15 |
| SCARSELLA, Basil | Director | 2005-05-31 | 2011-01-04 |
| SHURNIAK, William, Dr | Director | 2005-05-31 | 2011-06-28 |
| TRAIN, Christopher | Director | 2005-05-20 | 2005-05-31 |
| TSO, Kai Sum | Director | 2005-05-31 | 2013-02-08 |
| WAN, Chi Tin | Director | 2013-02-08 | 2023-07-01 |
| WATERS, Gordon Arthur Ivan | Director | 2005-05-31 | 2006-12-23 |
| YUEN, Sui See | Director | 2012-08-28 | 2014-02-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Northen Gas Networks Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 191 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-14 | AA | accounts | Accounts with accounts type full | |
| 2026-07-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-07-09 | TM01 | officers | Termination director company with name termination date | |
| 2026-07-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-19 | AA | accounts | Accounts with accounts type full | |
| 2025-08-19 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-30 | CH01 | officers | Change person director company with change date | |
| 2024-09-24 | AA | accounts | Accounts with accounts type full | |
| 2024-07-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-13 | CH01 | officers | Change person director company with change date | |
| 2023-08-15 | CH01 | officers | Change person director company with change date | |
| 2023-08-04 | AA | accounts | Accounts with accounts type full | |
| 2023-07-20 | AP01 | officers | Appoint person director company with name date | |
| 2023-07-20 | TM01 | officers | Termination director company with name termination date | |
| 2023-07-05 | ANNOTATION | miscellaneous | Legacy | |
| 2023-07-05 | CH01 | officers | Change person director company with change date | |
| 2023-07-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-02-28 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 1
- 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.