NATIONAL GRID NORTH SEA LINK LIMITED
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Cash
£1.3m
-58.7% vs 2025
Net assets
£655m
+1% vs 2025
Employees
—
Average over period
Profit before tax
£110m
+0.5% vs 2025
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 | £192,631,000 | £150,424,000 | £152,350,000 | +1.3% | |
| Operating profit | £147,718,000 | £100,120,000 | £99,718,000 | -0.4% | |
| Profit before tax | £156,978,000 | £109,064,000 | £109,579,000 | +0.5% | |
| Net profit | £115,018,000 | £87,626,000 | £81,800,000 | -6.6% | |
| Cash | £375,000 | £3,112,000 | £1,285,000 | -58.7% | |
| Total assets less current liabilities | £708,462,000 | £754,652,000 | £757,238,000 | +0.3% | |
| Net assets | £661,085,000 | £648,613,000 | £655,413,000 | +1% | |
| Equity | £661,085,000 | £648,613,000 | £655,413,000 | +1% | |
| Average employees | — | — | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £140,000 | £158,000 | £219,000 | +38.6% | |
| Directors' pension contributions | £18,000 | £24,000 | £26,000 | +8.3% | |
| Highest paid director | £62,000 | £65,000 | £95,000 | +46.2% |
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 | 76.7% | 66.6% | 65.5% | |
| Net margin | 59.7% | 58.3% | 53.7% | |
| Return on capital employed | 20.9% | 13.3% | 13.2% | |
| Gearing (liabilities / total assets) | 12.7% | 19.2% | 18.9% | |
| Current ratio | 4.45x | 5.76x | 5.97x | |
| Interest cover | — | 72.71x | 38.37x |
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 2 times since incorporation
- NATIONAL GRID NORTH SEA LINK LIMITED 2015-10-22 → present
- NATIONAL GRID NSN LINK LIMITED 2013-03-12 → 2015-10-22
- JV NOMINEES 2011 LIMITED 2012-05-24 → 2013-03-12
Audit & accounting basis
- Accounting basis
- FRS 102 §1A
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“These financial statements have been prepared on a going concern basis, which presumes that the Company has adequate resources to remain in operation, and that the Directors intend it to do so, for at least one year from the date the financial statements are signed. As the Company is part of a larger group it participates in the Group's centralised treasury arrangements and so shares banking arrangements with its subsidiaries.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 28 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HOLLIS, Katie Suzanne | Secretary | 2023-11-06 | — | — |
| PISARSKI, Matthew Francis | Director | 2023-09-01 | Jan 1981 | British |
| ROME, Rob | Director | 2023-09-01 | Jun 1972 | British |
| SEDLER, Rebecca | Director | 2023-04-01 | Dec 1977 | British |
| WHYTE, Stewart William | Director | 2025-04-01 | Dec 1983 | British |
Show 28 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BAILEY, Amy Lynda | Secretary | 2012-05-24 | 2012-09-17 |
| BARNES, Megan | Secretary | 2018-11-30 | 2022-11-18 |
| BARNES, Megan | Secretary | 2012-09-27 | 2014-09-01 |
| HAGAN, Lawrence | Secretary | 2017-09-25 | 2023-10-26 |
| MORGAN, Alice | Secretary | 2016-12-15 | 2018-11-30 |
| RAYNER, Heather Maria | Secretary | 2012-05-24 | 2016-03-31 |
| WHINCUP, David George | Secretary | 2014-09-02 | 2017-09-25 |
| ADAMS, Stephen John | Director | 2015-09-21 | 2017-06-30 |
| BOREHAM, Peter John | Director | 2013-03-25 | 2013-07-12 |
| BUTTERWORTH, Jonathan | Director | 2015-03-23 | 2021-05-01 |
| DAVIES, Jonathan Rhys | Director | 2023-04-01 | 2023-09-03 |
| FLAWN, Mark Antony David | Director | 2012-05-24 | 2013-01-07 |
| FORWARD, David Charles | Director | 2012-05-24 | 2013-11-30 |
| FOSTER, Alan Peter | Director | 2015-03-23 | 2015-12-01 |
| GREEN, Paul John | Director | 2013-07-12 | 2015-03-23 |
| HOOPER, Nick | Director | 2015-12-01 | 2021-08-01 |
| JOHNSON, Paul James | Director | 2013-07-12 | 2015-09-21 |
| LALLI, Sandeep Kaur | Director | 2022-08-04 | 2023-09-01 |
| MCCORMICK, Terence | Director | 2013-03-25 | 2013-07-12 |
| MEDALOVA, Nicola Anne | Director | 2021-05-01 | 2023-04-01 |
| RAYNER, Heather Maria | Director | 2013-01-08 | 2013-11-30 |
| RICHARDSON, Zachary John | Director | 2019-01-07 | 2021-05-28 |
| SANDY, Philip James | Director | 2023-09-01 | 2024-11-04 |
| SANDY, Philip James | Director | 2021-06-01 | 2023-04-01 |
| SIDES, Nick | Director | 2017-09-20 | 2021-06-01 |
| SINGHAL, Aarti | Director | 2017-09-20 | 2020-06-01 |
| TAYLOR, Julie Anne | Director | 2021-08-01 | 2022-08-04 |
| WATERS, Christopher John | Director | 2013-07-12 | 2015-03-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| National Grid Interconnector Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 102 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-21 | AA | accounts | Accounts with accounts type full | |
| 2026-04-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-02 | AA | accounts | Accounts with accounts type full | |
| 2025-04-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-02 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-11 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-14 | AA | accounts | Accounts with accounts type full | |
| 2024-04-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-03 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2024-01-03 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2023-11-15 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-10-27 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-09-26 | AA | accounts | Accounts with accounts type full | |
| 2023-09-08 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-08 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-08 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-06 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-04 | TM01 | officers | Termination director company with name termination date | |
| 2023-05-03 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2023-04-12 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- 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.