WEST TRANSMISSION LIMITED
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Cash
£2.3m
-59.9% vs 2025
Net assets
-£78m
-9.1% lowest in 3 filed years
Employees
—
Average over period
Profit before tax
-£8.5m
-15.6% vs 2025
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
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 | £9,408,000 | £10,854,000 | £10,704,000 | -1.4% | |
| Operating profit | £690,000 | £1,211,000 | £613,000 | -49.4% | |
| Profit before tax | -£12,286,000 | -£7,355,000 | -£8,500,000 | -15.6% | |
| Net profit | -£8,987,000 | -£5,625,000 | -£6,490,000 | -15.4% | |
| Cash | £1,396,000 | £5,846,000 | £2,346,000 | -59.9% | |
| Total assets less current liabilities | £237,771,000 | £242,490,000 | £245,987,000 | +1.4% | |
| Net assets | -£65,760,000 | -£71,385,000 | -£77,875,000 | -9.1% | |
| Equity | -£65,760,000 | -£71,385,000 | -£77,875,000 | -9.1% | |
| Average employees | 0 | 0 | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £260,000 | £292,000 | £256,000 | -12.3% | |
| Directors' pension contributions | — | £8,000 | £8,000 | 0% | |
| Highest paid director | £143,000 | £162,000 | £163,000 | +0.6% |
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 | 7.3% | 11.2% | 5.7% | |
| Net margin | -95.5% | -51.8% | -60.6% | |
| Return on capital employed | 0.3% | 0.5% | 0.2% | |
| Gearing (liabilities / total assets) | 127.4% | 129.0% | 131.3% | |
| Current ratio | 27.51x | 20.91x | 38.72x | |
| Interest cover | 0.05x | 0.12x | 0.06x |
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
- WEST TRANSMISSION LIMITED 2015-04-28 → present
- NORTHERN IRELAND ENERGY HOLDINGS LIMITED 2010-01-13 → 2015-04-28
- MUTUAL ENERGY LIMITED 2009-07-17 → 2010-01-13
Audit & accounting basis
- Accounting basis
- FRS 101 Reduced Disclosure Framework
- Reporting scope
- Standalone (parent only)
- Abridged
- Yes — abridged accounts (limited disclosure)
- Auditor
- Grant Thornton (NI) LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company has had recurring accounting losses and accordingly net liabilities. In view of the structure of the Company's financing arrangements, which are linked to the notes issued by its parent company West Transmission Financing plc, the Company will make losses in earlier years, and profits in later years. However, 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 partial repayment of debt capital and interest. In the unlikely event that a change in circumstances results in the Company being short of adequate cash to service the debt, the market arrangements approved by the Northern Ireland Authority for Utility Regulation would ensure debt payments are made. Accordingly, in view of the above the Directors consider it appropriate to adopt the going concern basis in the preparation of the financial statements.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 11 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 | 2010-02-26 | 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 | 2010-02-26 | 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 11 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MCILROY, Gerard | Secretary | 2010-02-26 | 2025-06-30 |
| ANNSGATE LIMITED | Corporate Secretary | 2009-07-17 | 2010-02-26 |
| ANDERSON, Patrick Michael | Director | 2016-10-01 | 2024-09-25 |
| BLACK, Clarke | Director | 2015-08-01 | 2017-09-30 |
| CANAVAN, Kerry Rosemary | Director | 2009-07-17 | 2010-02-19 |
| FINN, Regina | Director | 2015-08-01 | 2018-12-31 |
| KIRKPATRICK, Stephen | Director | 2015-08-01 | 2016-09-29 |
| MCKERNAN, Michael James | Director | 2018-01-01 | 2024-09-25 |
| MINGAY, Katherine Jane | Director | 2015-08-01 | 2021-09-23 |
| MURRAY, Christopher John | Director | 2015-08-01 | 2022-09-29 |
| TAYLOR, Alan | Director | 2009-07-17 | 2010-02-26 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| West Transmission Financing Plc | Corporate entity | Shares 75–100% | 2017-05-24 | Active |
| Mutual Energy Limited | Corporate entity | Shares 75–100% | 2016-04-06 | Ceased 2017-05-24 |
Filing timeline
Last 20 of 87 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-19 | AA | accounts | Accounts with accounts type full | |
| 2026-07-29 | 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 | |
| 2025-09-29 | AA | accounts | Accounts with accounts type full | |
| 2025-07-30 | 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 | |
| 2024-10-07 | AA | accounts | Accounts with accounts type full | |
| 2024-07-18 | 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
- 5
- 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.