SCOTLAND GAS NETWORKS PLC
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Cash
£5m
-75% lowest in 3 filed years
Net assets
£516m
+11.4% highest in 3 filed years
Employees
149
-6.9% lowest in 3 filed years
Profit before tax
£78m
+271.4% vs 2025
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
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 | £434,000,000 | £386,000,000 | £469,000,000 | +21.5% | |
| Operating profit | £169,000,000 | £76,000,000 | £146,000,000 | +92.1% | |
| Profit before tax | £109,000,000 | £21,000,000 | £78,000,000 | +271.4% | |
| Net profit | £81,000,000 | £15,000,000 | £68,000,000 | +353.3% | |
| Cash | £18,000,000 | £20,000,000 | £5,000,000 | -75% | |
| Total assets less current liabilities | £2,297,000,000 | £2,405,000,000 | £2,339,000,000 | -2.7% | |
| Net assets | £467,000,000 | £463,000,000 | £516,000,000 | +11.4% | |
| Equity | £467,000,000 | £463,000,000 | £516,000,000 | +11.4% | |
| Average employees | 166 | 160 | 149 | -6.9% | |
| Wages | £9,000,000 | £8,000,000 | £7,000,000 | -12.5% | |
| Directors' remuneration | £106,972 | £88,117 | £75,322 | -14.5% | |
| Highest paid director | £41,400 | £35,858 | £32,179 | -10.3% |
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 | 38.9% | 19.7% | 31.1% | |
| Net margin | 18.7% | 3.9% | 14.5% | |
| Return on capital employed | 7.4% | 3.2% | 6.2% | |
| Gearing (liabilities / total assets) | 81.1% | 82.0% | 80.8% | |
| Current ratio | 0.34x | 0.40x | 0.19x | |
| Interest cover | 2.52x | 1.29x | 2.21x |
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
- SCOTLAND GAS NETWORKS PLC 2005-09-29 → present
- SCOTLAND GAS NETWORKS LIMITED 2005-06-01 → 2005-09-29
- BLACKWATER SC A LIMITED 2004-02-26 → 2005-06-01
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have forecast cash flows of the Company for the next twelve months (the going concern period) and as liquidity is managed at Scotia Group level, the Directors have obtained a support letter from Scotia Gas Networks Limited confirming that it can and will support the Company in meetings its liabilities throughout the going concern period.”
Significant events
- “Ofgem issued its final determination for the RIIO-GD3 regulatory period in December 2025. The final determination sets the licence which then shapes the Company's investment programme and financial performance expectations over the next five years.”
- “This has led to us challenging the final determination at the CMA on three grounds of appeal.”
- “In September 2025, Scotland Gas Networks plc issued CHF 55m 1.910% fixed rate private placement notes due 2035, for which drawings occurred in October 2025.”
- “In December 2025, the Company entered into a £70m interest rate swap which converts the £70m floating rate term loan, due 2030, into fixed rate at 4.9170%.”
- “During the previous financial year, Ofgem expressed their intention to provide £26m of funding for the Company's H100 Fife Project. The £26m is not yet recognised as a receivable as at 31 March 2026, but it is disclosed (2025: £26m).”
- “Subsequent to the balance sheet date, the allocation of the facility was revised, with £300 million allocated to each of Southern Gas Networks plc and Scotland Gas Networks plc.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
17 active · 53 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MAKONI, Fungai | Secretary | 2025-04-01 | — | — |
| ADAM, James Alexander | Director | 2025-01-30 | Oct 1970 | British,Canadian |
| BOTHA, Michael John | Director | 2022-03-22 | Apr 1970 | Canadian |
| BRUNNING, Charlotte Louise | Director | 2018-05-02 | Apr 1986 | British |
| CATCHPOLE, Martin Paul | Director | 2022-03-23 | Dec 1975 | British |
| DEMES, David | Director | 2025-01-30 | Feb 1989 | Slovak |
| GOIS, Afonso Castello-Branco | Director | 2025-05-16 | Mar 1985 | Portuguese |
| KILONBACK, Simon David | Director | 2025-09-11 | Feb 1974 | British |
| KING, Anthony John | Director | 2025-09-11 | Dec 1968 | British |
| LUMLOCK, Rebecca Elizabeth | Director | 2022-03-22 | May 1973 | British |
| MURRAY, Christopher John | Director | 2026-01-01 | Apr 1956 | British |
| ROSENTHAL, Jeffrey | Director | 2022-06-14 | Oct 1959 | Canadian |
| SALMON, Nicholas Robin | Director | 2019-03-14 | Jun 1952 | British |
| SMART, Michael Oswald | Director | 2022-05-27 | Mar 1981 | British |
| TRIMMER, Paul John Vincent | Director | 2022-03-23 | Mar 1956 | British |
| TURNELL-HENRY, Mathew David | Director | 2025-05-16 | Feb 1987 | British |
| WHITTINGTON, Joanna Sarah | Director | 2023-10-19 | Dec 1966 | British |
Show 53 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ADAMS, Jonathan Jeffrey | Secretary | 2010-03-30 | 2011-07-26 |
| BIRTWISTLE, Megan Rose | Secretary | 2023-11-01 | 2025-01-15 |
| DURRANT, Andrew Peter | Secretary | 2004-02-26 | 2005-06-01 |
| EVES, Richard Anthony | Secretary | 2004-02-26 | 2005-06-01 |
| GRAY, Ailsa Mary | Secretary | 2005-06-01 | 2009-01-29 |
| HARDING, Debbie Mary | Secretary | 2009-01-29 | 2010-03-30 |
| SHAND, Nicola Anne | Secretary | 2011-07-26 | 2025-11-06 |
| SYLVESTER, Sharmila Virginia | Secretary | 2021-12-01 | 2023-11-01 |
| ALEXANDER, Fraser Mcgregor | Director | 2005-06-01 | 2022-03-22 |
| BRADBURY, Kenton Edward | Director | 2016-05-26 | 2018-09-14 |
| BUCK, Colin | Director | 2004-08-27 | 2005-06-01 |
| COVASSIN, Tanya Maria | Director | 2005-06-01 | 2008-06-26 |
| DOWD, Stephen Donald | Director | 2006-11-24 | 2013-03-26 |
| DURRANT, Andrew Peter | Director | 2004-02-26 | 2004-08-27 |
| EVES, Richard Anthony | Director | 2004-02-26 | 2004-08-27 |
| FAIRBAIRN, Mark Robert | Director | 2004-08-27 | 2005-06-01 |
| FINGERLE, Christian Herbert, Dr | Director | 2022-05-27 | 2024-09-13 |
| FLAGEUL, Natalie Michaela | Director | 2011-09-27 | 2020-07-22 |
| FLEMING, Neil Patrick | Director | 2015-03-24 | 2018-05-02 |
| FRIEDRICHSEN, Adam Michael Cooper | Director | 2021-07-01 | 2022-03-23 |
| GROSS, Matthew Jonathan | Director | 2024-01-04 | 2026-03-31 |
| GRUND, Ines | Director | 2018-07-18 | 2020-11-03 |
| HALSEY, David John | Director | 2004-08-27 | 2005-06-01 |
| HOLLIDAY, Steven John | Director | 2004-08-27 | 2005-06-01 |
| HOOD, Colin William | Director | 2005-06-01 | 2011-09-27 |
| JEFFERY, Paul Robert | Director | 2014-01-28 | 2026-01-01 |
| JUGGINS, Graham Gerald | Director | 2014-01-28 | 2018-09-06 |
| JUGGINS, Graham Gerald | Director | 2005-06-01 | 2006-07-21 |
| KAY, Alison Barbara | Director | 2005-05-20 | 2005-06-01 |
| KERRENNEUR, Antoine Jean René | Director | 2023-03-29 | 2024-04-15 |
| LAMBERT, Guy | Director | 2016-10-26 | 2022-03-22 |
| LEPIN, Ronald Kenneth | Director | 2005-06-01 | 2006-11-24 |
| LOPEZ DELGADO, Alejandro | Director | 2015-11-24 | 2019-06-28 |
| MCCOSKER, Peter Joseph | Director | 2019-06-07 | 2021-05-31 |
| MCDONALD, Robert | Director | 2006-07-21 | 2022-03-22 |
| MCMANUS, John James | Director | 2012-03-27 | 2020-07-01 |
| MCNICHOLAS, Michael | Director | 2019-06-28 | 2022-03-23 |
| MCPHILLIMY, James | Director | 2005-06-01 | 2016-10-26 |
| NOBREGA, Michael | Director | 2005-06-01 | 2007-03-10 |
| O'SULLIVAN, James Christopher | Director | 2004-08-27 | 2005-06-01 |
| ONARHEIM, Henrik Oliver Andreas | Director | 2021-07-05 | 2022-03-22 |
| ORTIZ, Felipe | Director | 2022-03-22 | 2025-05-08 |
| PIRBHAI, Juzar | Director | 2013-03-26 | 2014-07-29 |
| POPA, Mariana | Director | 2018-05-15 | 2019-06-07 |
| ROLLAND, John Michael | Director | 2007-12-31 | 2012-03-27 |
| SANDYS, Laura | Director | 2018-10-01 | 2023-10-31 |
| SHERMAN, Sebastien Bernard | Director | 2007-03-10 | 2015-11-24 |
| STEEDMAN, Olivia Penelope | Director | 2008-07-29 | 2016-05-26 |
| TAYLOR, Andrew Jonathan Mark | Director | 2016-05-26 | 2019-03-14 |
| THOMAZI, Charles | Director | 2017-10-26 | 2024-06-12 |
| TRAIN, Christopher | Director | 2005-05-20 | 2005-06-01 |
| VOELTZEL, Delphine | Director | 2020-07-01 | 2021-07-01 |
| WATTERS, Robert | Director | 2005-06-01 | 2007-12-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Sgn Midco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-12-05 | Active |
| Sgn Pledgeco Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2017-12-04 | Ceased 2017-12-05 |
| Scotia Gas Networks Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2017-12-04 |
Filing timeline
Last 20 of 244 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-10-01 MA Memorandum articles
- 2025-10-01 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-14 | AA | accounts | Accounts with accounts type full | |
| 2026-03-31 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-05 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-05 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-11-11 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-10-01 | MA | incorporation | Memorandum articles | |
| 2025-10-01 | RESOLUTIONS | resolution | Resolution | |
| 2025-09-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-19 | AA | accounts | Accounts with accounts type full | |
| 2025-05-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-16 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-10 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-10 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-10 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-04-09 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-12-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-18 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 1
- 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.