MOYLE INTERCONNECTOR LIMITED
Operating as part of the Mutual Energy group, the company manages the Moyle Interconnector, a subsea high-voltage direct current link transmitting electricity between Scotland and Northern Ireland.
Get an alert when MOYLE INTERCONNECTOR LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Cash
£216m
+17.2% highest in 3 filed years
Net assets
£257m
+20.7% highest in 3 filed years
Employees
11
0% vs 2025
Profit before tax
£59m
-41% 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 | £67,417,000 | £92,588,000 | £76,533,000 | -17.3% | |
| Operating profit | £25,161,000 | £93,588,000 | £53,985,000 | -42.3% | |
| Profit before tax | £22,225,000 | £99,226,000 | £58,542,000 | -41% | |
| Net profit | £16,684,000 | £74,337,000 | £43,997,000 | -40.8% | |
| Cash | £125,875,000 | £184,146,000 | £215,780,000 | +17.2% | |
| Total assets less current liabilities | £241,075,000 | £282,630,000 | £320,746,000 | +13.5% | |
| Net assets | £165,149,000 | £212,635,000 | £256,632,000 | +20.7% | |
| Equity | £165,149,000 | £212,635,000 | £256,632,000 | +20.7% | |
| Average employees | 10 | 11 | 11 | 0% | |
| Wages | £608,000 | £524,000 | £521,000 | -0.6% | |
| Directors' remuneration | £288,000 | £322,000 | £281,000 | -12.7% | |
| Directors' pension contributions | — | £9,000 | £9,000 | 0% | |
| Highest paid director | £159,000 | £179,000 | £179,000 | 0% |
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 | 37.3% | 101.1% | 70.5% | |
| Net margin | 24.7% | 80.3% | 57.5% | |
| Return on capital employed | 10.4% | 33.1% | 16.8% | |
| Gearing (liabilities / total assets) | 35.9% | 33.2% | 25.7% | |
| Current ratio | 9.62x | 5.98x | 9.90x | |
| Interest cover | 2.92x | 21.02x | 11.45x |
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
- MOYLE INTERCONNECTOR LIMITED 2003-02-26 → present
- MOYLE INTERCONNECTOR PUBLIC LIMITED COMPANY 2000-04-04 → 2003-02-26
- MOYLE INTERCONNECTOR LIMITED 1999-07-08 → 2000-04-04
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Grant Thornton (NI) LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company is cash generative and is forecast to remain cash positive. The forecast cash generated is adequate to meet the Company's liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements including the scheduled bond payments, and to comply with financing covenants, including the required Annual Debt Service Cover Ratio. Reserve accounts are fully funded and £10m of liquidity facilities are in place. Accordingly, the Directors consider it appropriate to adopt the going concern basis in the preparation of the financial statements.”
Significant events
- “The Company did, however, encounter a serious near miss when a fire suppressant system unexpectedly triggered. Corrective action has been taken to prevent this occurring again and a review of other systems is ongoing.”
- “Cyber costs have risen in the year due to the heightened compliance in this area and our continued efforts to strengthen the cyber security around our operational technologies.”
- “Maintenance costs were also higher in 2025-26 due to the cost of repairing the roof at the Ballycronan More site.”
- “Arbitration proceedings have since confirmed Moyle's entitlement to this revenue and it has been agreed that the remaining debt and associated interest will be recovered in 12 monthly instalments over the period November 2026 to October 2027.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 24 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ARMSTRONG, Emma Jayne | Secretary | 2025-07-01 | — | — |
| GRAY, David Middleton | Director | 2019-01-01 | May 1952 | British |
| LARKIN, Patrick | Director | 2007-01-22 | Oct 1968 | Irish |
| LEWIS, Alexandra Morton | Director | 2026-01-01 | Jan 1972 | British |
| MCCRACKEN, Harold | Director | 2021-09-01 | Jun 1949 | British |
| MCILROY, Gerard Myles | Director | 2010-01-01 | Feb 1969 | British |
| MCKEOWN, Norman | Director | 2023-11-20 | Jun 1957 | British |
| O'REILLY, Maureen | Director | 2024-11-20 | Jan 1968 | Irish |
| RICHARDS, Ceri | Director | 2020-03-01 | Dec 1958 | British |
Show 24 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MCILROY, Gerard | Secretary | 2009-09-26 | 2025-06-30 |
| ARTHUR COX NORTHERN IRELAND | Corporate Secretary | 1999-07-08 | 2009-09-26 |
| ANDERSON, Patrick Michael | Director | 2016-10-01 | 2024-09-25 |
| BLACK, Clarke | Director | 2011-01-01 | 2017-09-30 |
| CARGO, William James | Director | 2005-04-27 | 2010-01-01 |
| FINN, Regina | Director | 2008-11-01 | 2018-12-31 |
| HAUGHEY, Edward, Dr | Director | 2003-04-14 | 2003-07-07 |
| HUSTON, Felicity Victoria | Director | 2003-09-30 | 2010-09-21 |
| KIRKPATRICK, Stephen | Director | 2010-05-01 | 2016-09-29 |
| LOCKE, Alasdair James Dougall | Director | 2003-04-14 | 2008-12-31 |
| MCATEER, Damian Gerard | Director | 2003-09-30 | 2009-09-29 |
| MCCLURE, Alan David | Director | 2003-04-14 | 2009-09-29 |
| MCCRACKEN, Harold | Director | 1999-09-08 | 2003-04-14 |
| MCKERNAN, Michael James | Director | 2018-01-01 | 2024-09-25 |
| MINGAY, Katherine Jane | Director | 2014-05-01 | 2021-09-23 |
| MONTGOMERY, David John | Director | 2003-07-07 | 2008-03-31 |
| MURRAY, Christopher John | Director | 2014-05-01 | 2022-09-29 |
| O'DONNELL BOURKE, Patrick Francis John | Director | 2003-03-25 | 2003-04-14 |
| RAINEY, Alan | Director | 1999-09-03 | 2007-06-21 |
| SHEERAN, Nuala | Director | 2005-10-12 | 2007-08-31 |
| WALSH, Gerry | Director | 2008-10-01 | 2013-12-31 |
| WARRY, Peter Thomas | Director | 2008-09-23 | 2013-11-30 |
| WILSON, Nigel David | Director | 1999-09-03 | 2001-07-10 |
| WRIGHT, Noreen Ann | Director | 1999-07-08 | 1999-09-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Moyle Interconnector (Financing) Plc | Corporate entity | Shares 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 169 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-20 | AA | accounts | Accounts with accounts type full | |
| 2026-07-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-07-06 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-02 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-17 | AA | accounts | Accounts with accounts type full | |
| 2025-07-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-01 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-07-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-11-25 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-22 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-22 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-15 | AA | accounts | Accounts with accounts type full | |
| 2024-07-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-22 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-14 | AA | accounts | Accounts with accounts type full | |
| 2023-07-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-12-01 | TM01 | officers | Termination director company with name termination date | |
| 2022-10-04 | AUD | auditors | Auditors resignation company | |
| 2022-10-04 | AUD | auditors | Auditors resignation company | |
| 2022-09-28 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- 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.