SMART METER ASSETS 1 LTD
Get an alert when SMART METER ASSETS 1 LTD files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Cash
£9.1m
-20.6% vs 2024
Net assets
£35m
+47.9% highest in 3 filed years
Employees
9
-10% lowest in 3 filed years
Profit before tax
£14m
+3.6% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Industrials 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 | £82,551,000 | £78,469,000 | £76,637,000 | -2.3% | |
| Operating profit | £36,099,000 | £31,512,000 | £30,248,000 | -4% | |
| Profit before tax | £16,905,000 | £13,819,000 | £14,320,000 | +3.6% | |
| Net profit | £10,494,000 | £10,885,000 | — | — | |
| Cash | £7,918,000 | £11,454,000 | £9,093,000 | -20.6% | |
| Total assets less current liabilities | £345,028,000 | £323,109,000 | £320,697,000 | -0.7% | |
| Net assets | £21,853,000 | £23,738,000 | £35,112,000 | +47.9% | |
| Equity | £21,853,000 | £23,738,000 | £35,112,000 | +47.9% | |
| Average employees | 10 | 10 | 9 | -10% | |
| Wages | £564,000 | £635,000 | £4,069,000 | +540.8% | |
| Directors' remuneration | £249,000 | £273,000 | £3,385,000 | +1,139.9% | |
| Directors' pension contributions | £14,000 | £16,000 | — | — | |
| Highest paid director | — | £3,200,000 | £2,500,000 | -21.9% |
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 | 43.7% | 40.2% | 39.5% | |
| Net margin | 12.7% | 13.9% | — | |
| Return on capital employed | 10.5% | 9.8% | 9.4% | |
| Gearing (liabilities / total assets) | 93.8% | 92.8% | 89.3% | |
| Current ratio | 3.31x | 4.31x | 2.24x | |
| Interest cover | 1.88x | 1.76x | 1.85x |
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
- SMART METER ASSETS 1 LTD 2014-03-05 → present
- IN HOME TECHNOLOGY LIMITED 2014-02-21 → 2014-03-05
- SMART METER ASSETS 1 LTD 2014-01-27 → 2014-02-21
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors consider it appropriate to continue to prepare the financial statements on a going concern basis and are of the view that there are no material uncertainties regarding the Group's going concern status.”
Significant events
- “During the year, the Group amended the UEL of smart meters to 20 years from the 1 December 2025. This change in estimate had the effect of decreasing the depreciation charge by £1.1m in the year ended 31 December 2025.”
- “During the year management identified an impairment indicator relating to a batch of meters manufactured by a single, specific supplier that were identified to be faulty. The recoverable value of these meters was determined to be £0.6m, which led to an impairment of £0.6m to their carrying value.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 18 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JORDAN, Neil | Secretary | 2025-07-19 | — | — |
| GRUNFELD, Benjamin James Ellis | Director | 2026-06-30 | Jan 1981 | British,Canadian |
| SMYTH, Ian Thomas | Director | 2026-01-28 | Nov 1970 | British |
Show 18 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MUMFORD, Christopher Paul | Secretary | 2016-02-03 | 2021-05-12 |
| BELFIELD, Lee Anthony | Director | 2023-10-24 | 2024-07-08 |
| BRUGNOLO, Stefano | Director | 2021-05-12 | 2025-02-07 |
| CORNEY, Darryl John | Director | 2016-02-03 | 2021-05-12 |
| CRESSWELL, Mark George | Director | 2021-05-12 | 2025-02-07 |
| FITZPATRICK, Stephen James | Director | 2014-01-27 | 2016-02-03 |
| HORLER, Nicholas Wenham | Director | 2021-09-16 | 2025-06-11 |
| HOUGHTON, Christopher Paul | Director | 2015-01-28 | 2016-02-03 |
| HOWETT, Justin Richard | Director | 2025-07-19 | 2026-08-13 |
| LINSDELL, Clive Eric | Director | 2016-02-03 | 2021-05-12 |
| MORTLOCK, Timothy James | Director | 2025-07-19 | 2026-01-29 |
| MURPHY, Stephen Thomas | Director | 2015-01-28 | 2016-02-03 |
| ROMASHKAN, Ekaterina | Director | 2021-05-12 | 2023-10-24 |
| ROSE, Richard Lee | Director | 2021-09-16 | 2025-08-20 |
| SCOTT-MACKENZIE, Christian Alexander | Director | 2021-05-12 | 2025-02-07 |
| STUDHOLME, Jeff | Director | 2017-07-01 | 2025-07-21 |
| WEST, Sean Allan | Director | 2025-08-31 | 2026-06-30 |
| OVAL NOMINEES LIMITED | Corporate Director | 2014-01-27 | 2014-01-27 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Sma Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-05-12 | Active |
| Buuk Infrastructure No 2 Limited | Corporate entity | Shares 75–100%, Voting 75–100% (as trust), Appoints directors | 2016-04-06 | Ceased 2021-05-12 |
Filing timeline
Last 20 of 161 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-12-17 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-30 | AA | accounts | Accounts with accounts type full | |
| 2026-09-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-08-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-08-17 | TM01 | officers | Termination director company with name termination date | |
| 2026-07-09 | AP01 | officers | Appoint person director company with name date | |
| 2026-07-09 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-27 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-18 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-12 | SH02 | capital | Capital alter shares consolidation | |
| 2025-12-17 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-12-17 | SH20 | capital | Legacy | |
| 2025-12-17 | CAP-SS | insolvency | Legacy | |
| 2025-12-17 | RESOLUTIONS | resolution | Resolution | |
| 2025-12-17 | SH01 | capital | Capital allotment shares | |
| 2025-09-30 | AA | accounts | Accounts with accounts type full | |
| 2025-09-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-26 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-22 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-07-21 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 15
- Capital events
- 4
- Officers appointed
- 2
- Officers resigned
- 3
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.