NEART NA GAOITHE OFFSHORE WIND LIMITED
The company operates the Neart Na Gaoithe offshore wind farm in the Scottish Firth of Forth, which was developed by EDF Renewables and ESB.
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Cash
£165m
-23.8% vs 2024
Net assets
£216m
-9.1% vs 2024
Employees
0
Average over period
Profit before tax
£72m
+659.9% vs 2024
Watch the reel
Our short-form breakdown of NEART NA GAOITHE OFFSHORE WIND LIMITED's latest filing
Scottish wind farm NnG finally got all 54 turbines spinning this year — pushing revenue to £225m. But a massive £72m tax charge absorbed almost the entire pre-tax profit. 🌬️
Net assets
3-year trend · vs Utilities median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | — | £10,158,000 | £224,894,000 | +2,114% | |
| Operating profit | £14,179,000 | £9,018,000 | £80,576,000 | +793.5% | |
| Profit before tax | £93,157,000 | £9,532,000 | £72,430,000 | +659.9% | |
| Net profit | £73,558,000 | £79,959,000 | £614,000 | -99.2% | |
| Cash | £42,585,000 | £216,847,000 | £165,334,000 | -23.8% | |
| Total assets less current liabilities | £3,288,850,000 | £3,916,871,000 | £3,671,452,000 | -6.3% | |
| Net assets | £151,969,000 | £237,901,000 | £216,179,000 | -9.1% | |
| Equity | £151,969,000 | £237,901,000 | £216,179,000 | -9.1% | |
| Average employees | 0 | 0 | 0 | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £0 | £0 | — | — | |
| Directors' pension contributions | £0 | £0 | — | — | |
| Highest paid director | £0 | £0 | — | — |
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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | — | 88.8% | 35.8% | |
| Net margin | — | — | 0.3% | |
| Return on capital employed | 0.4% | 0.2% | 2.2% | |
| Gearing (liabilities / total assets) | 95.5% | 94.2% | 94.7% | |
| Current ratio | 10.75x | 8.77x | 3.51x | |
| Interest cover | 0.46x | 0.35x | 1.25x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis which the Directors consider to be appropriate for the following reasons.”
Significant events
- “In July 2026, the Company finalised a formal settlement agreement in relation to an ongoing legal dispute with a supplier, agreeing to a total payment of £50,400,000.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 20 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAILEY, Jeremy | Secretary | 2021-03-25 | — | — |
| CONNOLLY, Gary Patrick | Director | 2025-09-02 | Apr 1970 | Irish |
| HUE, Matthieu Thomas | Director | 2022-06-24 | Apr 1975 | French |
| KEANE, Tim | Director | 2022-07-22 | Oct 1970 | Irish |
| KENNEDY, Ryanne Llyn Burges | Director | 2024-01-01 | Apr 1983 | British |
| MULLANY, Ian | Director | 2025-10-22 | Sep 1982 | British |
| O’RIORDAN, Eoghan Paul | Director | 2026-02-20 | Jun 1982 | Irish |
Show 20 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BLAKE, Gavin | Secretary | 2009-03-09 | 2009-05-08 |
| LIND, Susan Elizabeth | Secretary | 2018-05-02 | 2021-03-25 |
| LKG SECRETARIAL LIMITED | Corporate Secretary | 2009-05-07 | 2018-01-31 |
| ANDERSEN, Torben | Director | 2009-03-09 | 2018-05-02 |
| BELLOY, Frederic Marie Albert | Director | 2019-01-17 | 2024-01-01 |
| BOUSSE, Cedric Le | Director | 2020-04-23 | 2025-10-22 |
| BUFFON, Beatrice | Director | 2018-05-02 | 2020-04-23 |
| GONSE, Elsa Michka | Director | 2019-01-17 | 2019-12-04 |
| GUYLER, Robert | Director | 2019-01-17 | 2019-12-04 |
| HUE, Matthieu Thomas | Director | 2018-05-02 | 2021-12-22 |
| KINSELLA, Andy | Director | 2009-03-09 | 2018-05-02 |
| KINSMAN, Caitriona | Director | 2019-12-04 | 2026-02-19 |
| O'CONNOR, Edward | Director | 2009-03-09 | 2018-01-31 |
| O'CONNOR, John | Director | 2019-12-04 | 2025-09-01 |
| QUANEY, Mary | Director | 2017-08-10 | 2018-05-02 |
| SMITH, Paul Gerard | Director | 2019-12-04 | 2022-07-01 |
| SYKES, Matthew | Director | 2019-01-17 | 2019-12-04 |
| WHELAN, Fintan | Director | 2009-03-09 | 2014-11-10 |
| ZIPFEL, Tristan | Director | 2022-01-27 | 2022-06-17 |
| ZITO, Emilio Alessandro | Director | 2019-01-17 | 2019-12-04 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mitsubishi Ufj Financial Control, Inc. | Corporate entity | Shares 75–100% | 2019-11-26 | Active |
| Dr Eddie O'Connor | Individual | Significant influence | 2018-05-02 | Ceased 2018-05-02 |
| Nng Windfarm Holdings Limited | Corporate entity | Voting 75–100%, Appoints directors | 2018-05-02 | Active |
| Link Corporate Trustees (Uk) Limited | Corporate entity | Shares 75–100% | 2017-11-20 | Ceased 2018-05-02 |
| Link Corporate Trustees (Uk) Limited | Corporate entity | Shares 75–100% | 2016-04-06 | Ceased 2017-11-20 |
| International Mainstream Renewable Power Limited | Corporate entity | Shares 75–100% | 2016-04-06 | Ceased 2016-04-06 |
Filing timeline
Last 20 of 139 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-17 | AA | accounts | Accounts with accounts type full | |
| 2026-05-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-04 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-04 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-22 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-22 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-10 | AA | accounts | Accounts with accounts type full | |
| 2025-05-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-20 | CH01 | officers | Change person director company with change date | |
| 2025-05-07 | AA | accounts | Accounts with accounts type full | |
| 2024-05-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-02-01 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-01 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-10 | AA | accounts | Accounts with accounts type full | |
| 2023-05-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-07 | AA | accounts | Accounts with accounts type full | |
| 2022-07-27 | AP01 | officers | Appoint person director company with name date | |
| 2022-07-27 | 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
- 2
- Officers resigned
- 2
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.