NEOS NETWORKS 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

  +4.8%

  £122,900,000 → £128,800,000

• Cash

  +6.5%

  £21,700,000 → £23,100,000

• Net assets

  -62.9%

  £112,400,000 → £41,700,000

• Employees

  -26.1%

  631 → 466

• Operating profit

  +26.4%

  -£63,600,000 → -£46,800,000

• Profit before tax

  +14.8%

  -£83,000,000 → -£70,700,000

• Wages

  -13.7%

  £38,800,000 → £33,500,000

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. NEOS NETWORKS LIMITED 2021-03-30 → present
2. SSE TELECOMMUNICATIONS LIMITED 2001-01-08 → 2021-03-30
3. DUNWILCO (844) LIMITED 2000-12-04 → 2001-01-08

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements are prepared on a Going Concern basis, which is a period of 12 months from approval of these financial statements and has been supported by the provision of letters of support from its shareholders, SSE plc and Infracapital Partners (including specifically Infracapital Partners III (Sterling) SCSp, Infracapital Partners III (Euro) SCSp and Digital Infrastructure Investment Partners LP). The letters of support confirm they will provide support for a period of 12 months from the date of signing of these accounts. In assessing the financial strength of the letters of support provided, the directors have considered the commitment from their shareholders to mutually provide funding, the current commercial telecoms market conditions, as well as sensitivities on future cashflow projections. The directors also considered mitigating actions available to the Company under a severe, but plausible downside scenario including non-essential capex postponement. Having prepared forecasts, the directors have identified the need for support from their shareholders, which they have committed to provide. The directors' are satisfied that the supporting entities have sufficient available funds to support the entity based on review of publicly available information and underlying records. The business case for Reach was fully reviewed and approved by our Board. We have contracted with Network Rail for the 1,000 km build and all financial requirements have been considered, based on the business case there is a positive cashflow expected for the period up to Dec-26 as confirmed in our going concern. If we were to commercialise then this would also strengthen the position at a group level. Having reviewed its financial strength, the directors are satisfied that the Company will remain funded for the foreseeable future and have concluded it is appropriate for the financial statements to be prepared on a going concern basis.”

Group structure

1. NEOS NETWORKS LIMITED · parent
   1. NNXYZ Limited 1% · UK · Dormant
   2. AtlasConnect Limited 1% · UK · Dormant
   3. Digital Reach Partners Limited 1% · UK · Dormant

Significant events

• “Awarded partnership with Network Rail for Project Reach in June 2025. The project will upgrade Britain's telecoms infrastructure and boost 4G/5G connectivity on trains and in stations, tackle signal blackspots in tunnels and pave the way for network connectivity improvements across Britain.”

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

2

last 24 months

Officers appointed

1

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.