MUTUAL ENERGY LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +26.2%

  £116,613,000 → £147,152,000

• Cash

  +51.4%

  £152,652,000 → £231,165,000

• Net assets

  +120.6%

  £62,370,000 → £137,572,000

• Employees

  +2.4%

  42 → 43

• Operating profit

  +33.3%

  £83,243,000 → £110,926,000

• Profit before tax

  +553.8%

  £15,428,000 → £100,863,000

• Wages

  +5.2%

  £3,369,000 → £3,544,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. 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. Sector-distribution context coming next.

1. MUTUAL ENERGY LIMITED 2010-01-13 → present
2. NORTHERN IRELAND ENERGY HOLDINGS LIMITED 2005-01-31 → 2010-01-13

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Grant Thornton (NI) LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have a reasonable expectation that the Group has adequate resources for a period of at least 12 months from the date of approval of the financial statements and have therefore assessed that the going concern basis of accounting is appropriate in preparing the financial statements and that there are no material uncertainties to disclose.”

Group structure

1. MUTUAL ENERGY LIMITED · parent
   1. Moyle Holdings No. 2 Limited 1% · Holding company
   2. Moyle Interconnector (Financing) plc 1% · Financing
   3. Moyle Interconnector Limited 1% · Operation of Moyle Interconnector
   4. Premier Transmission Holdings Limited 1% · Holding company
   5. Premier Transmission Financing plc 1% · Financing
   6. Premier Transmission Limited 1% · Operation of Scotland Northern Ireland Pipeline
   7. Interconnector Services (NI) Limited 1% · Provision of seabed survey and other services
   8. Northern Ireland Gas Transmission Holdings Limited 1% · Holding company
   9. Belfast Gas Transmission Holdings Limited 1% · Holding company
   10. Belfast Gas Transmission Financing plc 1% · Financing
   11. Belfast Gas Transmission Limited 1% · Operation of the Belfast Gas transmission pipeline
   12. WTL Holdings Limited 1% · Holding company
   13. West Transmission Financing plc 1% · Financing
   14. West Transmission Limited 1% · Operation of West Transmission pipeline

Significant events

• “£80m planned return to consumers over the next five years.”
• “Pumped Hydro Energy Storage (PHES) feasibility study launched in October 2024.”
• “The new Labour government in the UK, formed in July 2024, is aligned with accelerating decarbonisation and 2050 net zero targets.”
• “Greenlink Interconnector between Ireland and Great Britain (GB) began commercial operations in January 2025.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

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