WEST MIDLANDS GRID STORAGE TWO LTD

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

• ·

  Negative shareholders' funds

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

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Blick Rothenberg Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company has net liabilities of £3.72m and net current liabilities of £4.74m. Forecasts have been prepared that show the company is able to operate for at least 12 months from the date of approval of these financial statements. The directors have also made enquiries with the directors of the immediate parent undertaking, Grid Holdco 1 Limited, with regards to the repayment of the loan the company has with it. As detailed in note 12, the loan is repayable on demand of the lender. The directors understand that this will not be called unless the company has the ability to make the repayment. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.”

Significant events

• “The company is party to an operations and maintenance contract for a minimum term of 3 years from February 2024. It is committed to future payments of £24,375 under the terms of this contract.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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