MOYLE INTERCONNECTOR (FINANCING) PUBLIC LIMITED COMPANY
Operating as part of the Mutual Energy group, the business acts as a financing vehicle and holding company for Moyle Interconnector Limited, which manages electricity transmission.
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Cash
£216m
+17.1% highest in 3 filed years
Net assets
£275m
+18.4% highest in 3 filed years
Employees
11
0% vs 2025
Profit before tax
£57m
-41.7% 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 | £23,446,000 | £91,843,000 | £52,276,000 | -43.1% | |
| Profit before tax | £20,528,000 | £97,534,000 | £56,856,000 | -41.7% | |
| Net profit | £15,338,000 | £73,124,000 | £42,690,000 | -41.6% | |
| Cash | £126,026,000 | £184,297,000 | £215,810,000 | +17.1% | |
| Total assets less current liabilities | £250,251,000 | £314,488,000 | £350,001,000 | +11.3% | |
| Net assets | £160,589,000 | £232,063,000 | £274,753,000 | +18.4% | |
| Equity | £160,589,000 | £232,063,000 | £274,753,000 | +18.4% | |
| 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 | £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 | 34.8% | 99.2% | 68.3% | |
| Net margin | 22.8% | 79.0% | 55.8% | |
| Return on capital employed | 9.4% | 29.2% | 14.9% | |
| Gearing (liabilities / total assets) | 40.1% | 31.4% | 24.5% | |
| Current ratio | 8.32x | 8.92x | 17.69x | |
| Interest cover | 2.74x | 20.94x | 11.20x |
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 3 times since incorporation
- MOYLE INTERCONNECTOR (FINANCING) PUBLIC LIMITED COMPANY 2009-10-14 → present
- MOYLE INTERCONNETOR (FINANCING) PUBLIC LIMITED COMPANY 2009-10-14 → 2009-10-14
- MOYLE INTERCONNETOR (FINANCING) PUBLIC LIMITY 2003-03-11 → 2009-10-14
- MOYLE INTERCONNECTOR (FINANCING) PUBLIC LIMITED COMPANY 2003-03-03 → 2003-03-11
Audit & accounting basis
- Accounting basis
- UK-adopted IAS
- Reporting scope
- Consolidated group
- Auditor
- Grant Thornton (NI) LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Group is cash generative and is forecast to remain cash positive. The forecast cash generated is adequate to meet the Group'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.”
Group structure
- MOYLE INTERCONNECTOR (FINANCING) PUBLIC LIMITED COMPANY · parent
- Moyle Interconnector Limited 100%
Significant events
- “During the year, the Moyle Interconnector supplied 33% of Northern Ireland's electricity consumption (2.4TWh) and maintained a high level of availability¹ at 99.4%.”
- “This timing coincided with a planned outage that Scottish Power required to carry out maintenance to equipment on the Great Britain side of the connection. This provided us with the opportunity to carry out extensive refurbishment work on our transformer fleet and the back-up electrical supply equipment in Auchencrosh and Ballycronan More sites.”
- “The Group 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.”
- “We are preparing to participate in the competition for low carbon inertia services that is being conducted by SONI.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ARMSTRONG, Emma Jayne | Secretary | 2025-07-01 | — | — |
| LARKIN, Patrick | Director | 2007-01-22 | Oct 1968 | Irish |
| MCILROY, Gerard Myles | Director | 2010-01-01 | Feb 1969 | British |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MCILROY, Gerard | Secretary | 2009-09-26 | 2025-06-30 |
| ARTHUR COX NORTHERN IRELAND | Corporate Secretary | 2003-03-03 | 2009-09-26 |
| CARGO, William James | Director | 2005-04-27 | 2010-01-01 |
| HAUGHEY, Edward, Dr | Director | 2003-04-14 | 2003-07-07 |
| HUSTON, Felicity Victoria | Director | 2003-09-30 | 2010-09-21 |
| LOCKE, Alasdair James Dougall | Director | 2005-04-14 | 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 | 2003-03-03 | 2003-04-14 |
| MONTGOMERY, David | Director | 2003-07-07 | 2008-03-31 |
| O'DONNELL BOURKE, Patrick Francis John | Director | 2003-03-25 | 2003-04-14 |
| RAINEY, Alan | Director | 2003-03-03 | 2007-06-21 |
| SHEERAN, Nuala | Director | 2005-10-12 | 2007-08-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Moyle Holdings No.2 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-09-06 | Active |
| Moyle Holdings Limited | Corporate entity | Shares 75–100% | 2016-04-06 | Ceased 2023-09-06 |
| Mr Patrick Larkin | Individual | Voting 25–50% | 2016-04-06 | Active |
| Mr Gerard Myles Mcilroy | Individual | Voting 25–50% | 2016-04-06 | Active |
Filing timeline
Last 20 of 104 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-09-15 MA Memorandum articles
- 2023-09-15 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-20 | AA | accounts | Accounts with accounts type group | |
| 2026-07-27 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2026-07-06 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2026-03-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-17 | AA | accounts | Accounts with accounts type group | |
| 2025-07-01 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-07-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-03-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-02 | AA | accounts | Accounts with accounts type group | |
| 2024-03-12 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-03-12 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-09-25 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2023-09-15 | SH01 | capital | Capital allotment shares | |
| 2023-09-15 | MA | incorporation | Memorandum articles | |
| 2023-09-15 | RESOLUTIONS | resolution | Resolution | |
| 2023-09-15 | SH10 | capital | Capital variation of rights attached to shares | |
| 2023-09-15 | SH08 | capital | Capital name of class of shares | |
| 2023-09-14 | AA | accounts | Accounts with accounts type group | |
| 2023-03-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-14 | AUD | auditors | Auditors resignation company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- 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.