SCOTTISH HYDRO ELECTRIC TRANSMISSION PLC
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2025-03-31
Confirmation statement due
2026-11-15 (in 6mo)
Last made up 2025-11-01
Watchouts
Cash
£7M
-94.3% vs 2024
Net assets
£2B
+14.1% vs 2024
Employees
2,084
+37.4% vs 2024
Profit before tax
£375M
-29.3% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
2-year trend · vs Utilities median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £885,900,000 | £807,000,000 | |
| Operating profit | £565,700,000 | £435,500,000 | |
| Profit before tax | £530,700,000 | £375,400,000 | |
| Net profit | £395,600,000 | £262,000,000 | |
| Cash | £128,900,000 | £7,400,000 | |
| Total assets less current liabilities | £5,263,500,000 | £6,482,900,000 | |
| Net assets | £2,034,300,000 | £2,320,300,000 | |
| Equity | £2,034,300,000 | £2,320,300,000 | |
| Average employees | 1,517 | 2,084 | |
| Wages | £87,100,000 | £124,600,000 | |
| Directors' remuneration | £3,600,000 | £3,700,000 |
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
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
-8.9%
£885,900,000 £807,000,000
-
Cash
-94.3%
£128,900,000 £7,400,000
-
Net assets
+14.1%
£2,034,300,000 £2,320,300,000
-
Employees
+37.4%
1,517 2,084
-
Operating profit
-23%
£565,700,000 £435,500,000
-
Profit before tax
-29.3%
£530,700,000 £375,400,000
-
Wages
+43.1%
£87,100,000 £124,600,000
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 63.9% | 54.0% | |
| Net margin | 44.7% | 32.5% | |
| Return on capital employed | 10.7% | 6.7% | |
| Gearing (liabilities / total assets) | 65.7% | 67.9% | |
| Current ratio | 0.52x | 0.69x | |
| Interest cover | 11.88x | 5.84x |
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 4 times since incorporation
- SCOTTISH HYDRO ELECTRIC TRANSMISSION PLC 2012-10-25 → present
- SCOTTISH HYDRO ELECTRIC TRANSMISSION LIMITED 2007-02-02 → 2012-10-25
- SCOTTISH HYDRO-ELECTRIC TRANSMISSION LIMITED 2001-03-08 → 2007-02-02
- SSE TRANSMISSION LIMITED 2001-01-08 → 2001-03-08
- DUNWILCO (848) LIMITED 2000-12-04 → 2001-01-08
Audit & accounting basis
- Accounting basis
- FRS 102 §1A
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors consider that the Company has adequate resources to continue in operational existence for the period to 31 December 2026. The financial statements are therefore prepared on a going concern basis.”
Group structure
- SCOTTISH HYDRO ELECTRIC TRANSMISSION PLC · parent
- Eastern Green Link 2 Ltd 0.5%
Significant events
- “Shetland High Voltage Direct Current (HVDC) Link, which was successfully energised in August 2024, on budget and ahead of schedule.”
- “Construction began on the Orkney transmission link, with good progress made with groundworks and preparatory works for the onshore cable.”
- “Agreement was reached with SEPA to secure the necessary permit to allow works to recommence safely, with energisation still on track for 2028.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 31 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MCLAUGHLIN, Mark | Secretary | 2025-12-01 | — | — |
| ALEXANDER, Fraser Mcgregor | Director | 2002-10-01 | Apr 1963 | British |
| ALKIRWI, Mazin | Director | 2021-02-23 | Jun 1984 | British |
| BRUCE, Susan Margaret, Dame | Director | 2026-04-01 | Oct 1955 | British |
| BRUNNING, Charlotte | Director | 2022-12-22 | Apr 1986 | British |
| FLEMING, Ronald Bathgate | Director | 2022-11-30 | Feb 1964 | British |
| MCDONALD, Robert | Director | 2019-01-31 | Nov 1971 | British |
| O'REGAN, Barry | Director | 2025-06-23 | Nov 1977 | Irish |
| SANDYS, Laura, Ms. | Director | 2023-02-01 | Jun 1964 | British |
| THOMAZI, Charles | Director | 2022-11-30 | Oct 1963 | Canadian |
| ZHANGELDIN, Amanzhol | Director | 2025-11-25 | Sep 1993 | Canadian |
Show 31 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DONNELLY, Lawrence John Vincent | Secretary | 2001-03-19 | 2009-01-22 |
| GETTINBY, Helen | Secretary | 2014-07-01 | 2015-06-02 |
| HUGHES ROXBURGH, Annette | Secretary | 2024-10-31 | 2025-12-01 |
| MANDERSON, Lilian | Secretary | 2009-01-22 | 2014-06-30 |
| MCLAUGHLIN, Mark | Secretary | 2015-06-02 | 2024-10-31 |
| D.W. COMPANY SERVICES LIMITED | Corporate Nominee Secretary | 2000-12-04 | 2001-03-19 |
| ALGAARD, Eliane Marthe Jeanne Marie, Dr | Director | 2020-09-01 | 2022-11-30 |
| BORTHWICK, Alistair John | Director | 2018-09-07 | 2019-06-28 |
| BURCHELL, Christopher Derek Dyne | Director | 2021-01-04 | 2022-11-30 |
| CARGILL, Dale Neil | Director | 2015-10-28 | 2020-01-23 |
| FUNNELL, Ian Grant | Director | 2009-11-30 | 2012-10-12 |
| GARDNER, David | Director | 2012-11-16 | 2019-01-31 |
| HOGARTH, Stuart John | Director | 2011-01-24 | 2020-03-23 |
| HOOD, Colin William | Director | 2001-03-19 | 2011-09-15 |
| KENNEDY, Steven Alexander | Director | 2002-03-11 | 2018-09-07 |
| LAUGHLAND, James Graham | Director | 2001-03-19 | 2002-02-20 |
| LEZAMA, Kerron Kwame | Director | 2022-11-30 | 2022-12-10 |
| MACTAGGART, Alexander John Lorne | Director | 2021-02-23 | 2022-11-30 |
| MARCHANT, Ian Derek | Director | 2001-03-19 | 2002-10-01 |
| MARSHALL, Katherine Helen | Director | 2017-12-14 | 2022-11-30 |
| MATHIESON, Mark William | Director | 2007-11-21 | 2014-12-12 |
| MCDONALD, Robert | Director | 2015-06-01 | 2017-12-14 |
| MCDONALD, Robert | Director | 2009-11-30 | 2011-01-21 |
| MCEWEN, Rachel | Director | 2016-05-27 | 2025-06-23 |
| MCLEOD, Aileen Elizabeth, Dr | Director | 2011-01-24 | 2015-03-31 |
| NICOL, Colin Clarke | Director | 2014-12-12 | 2021-01-04 |
| ROUGH, Mark Charles | Director | 2020-04-01 | 2022-11-30 |
| RUTHERFORD, David | Director | 2014-04-01 | 2023-02-01 |
| STEEL, Gary Glachan | Director | 2014-04-01 | 2026-03-31 |
| D.W. DIRECTOR 1 LIMITED | Corporate Nominee Director | 2000-12-04 | 2001-03-19 |
| D.W. DIRECTOR 2 LIMITED | Corporate Nominee Director | 2000-12-04 | 2001-03-19 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Scottish And Southern Energy Power Distribution Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 158 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-10-28 RESOLUTIONS Resolution
- 2024-09-25 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-07 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-07 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-19 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-02 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-12-02 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-11-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-08 | AA | accounts | Accounts with accounts type full | |
| 2025-06-25 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-25 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-28 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-11-28 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-10-28 | RESOLUTIONS | resolution | Resolution | |
| 2024-09-25 | MA | incorporation | Memorandum articles | |
| 2024-09-24 | AA | accounts | Accounts with accounts type full | |
| 2023-11-13 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-08-11 | AA | accounts | Accounts with accounts type full | |
| 2023-02-08 | AP01 | officers | Appoint person director company with name date | |
| 2023-02-01 | TM01 | officers | Termination director company with name termination date | |
| 2023-02-01 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 4
- Officers resigned
- 3
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.