THAMES WATER UTILITIES LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-07-03 (in 2mo)
Last made up 2025-06-19
Watchouts
Cash
£209M
-3.7% lowest in 3 filed years
Net assets
-£10B
-16.7% lowest in 3 filed years
Employees
7,824
-1.3% lowest in 3 filed years
Profit before tax
£323M
+427.1% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The consolidated financial statements for the year ended 31 March 2025, set out on pages 104 to 177 have been prepared on the going concern basis. As explained more fully in Note 33 (Restructuring Plan) of the consolidated financial statements, in December 2023 the Group announced proposals for a financial restructuring. The Directors consider that there is a material uncertainty that may cast significant doubt on the Group and Company's ability to continue as a going concern in relation to the preparation of the financial statements, as the restructuring is not yet complete and there is no certainty that all conditions for its completion will be met. The Directors believe that the Group has sufficient resources to continue in operational existence for the foreseeable future and believe that the going concern basis is appropriate for the preparation of the financial statements.
Net assets
3-year trend · vs Utilities median
Accounts
3-year trend · latest reflected 2025-03-31
| Metric | Trend | 2023-03-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|
| Turnover | £2,584,000,000 | £2,621,000,000 | £2,641,000,000 | |
| Operating profit | £524,000,000 | £248,000,000 | £488,000,000 | |
| Profit before tax | £343,300,000 | £61,300,000 | £323,100,000 | |
| Net profit | £332,300,000 | £28,300,000 | £293,900,000 | |
| Cash | £258,800,000 | £217,400,000 | £209,400,000 | |
| Total assets less current liabilities | £9,813,200,000 | £9,624,100,000 | £10,593,400,000 | |
| Net assets | -£8,432,900,000 | -£8,825,200,000 | -£10,296,800,000 | |
| Equity | -£8,432,900,000 | -£8,825,200,000 | -£10,296,800,000 | |
| Average employees | 7,931 | 7,931 | 7,824 | |
| Wages | £592,800,000 | £624,500,000 | £625,000,000 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-03-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|
| Operating margin | 20.3% | 9.5% | 18.5% | |
| Net margin | 12.9% | 1.1% | 11.1% | |
| Return on capital employed | 5.3% | 2.6% | 4.6% | |
| Gearing (liabilities / total assets) | 176.2% | 179.3% | 187.4% | |
| Current ratio | 0.82x | 0.72x | 0.53x | |
| Interest cover | 2.72x | 1.24x | 2.67x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The consolidated financial statements for the year ended 31 March 2025, set out on pages 104 to 177 have been prepared on the going concern basis. As explained more fully in Note 33 (Restructuring Plan) of the consolidated financial statements, in December 2023 the Group announced proposals for a financial restructuring. The Directors consider that there is a material uncertainty that may cast significant doubt on the Group and Company's ability to continue as a going concern in relation to the preparation of the financial statements, as the restructuring is not yet complete and there is no certainty that all conditions for its completion will be met. The Directors believe that the Group has sufficient resources to continue in operational existence for the foreseeable future and believe that the going concern basis is appropriate for the preparation of the financial statements.”
Group structure
- THAMES WATER UTILITIES LIMITED · parent
- Thames Water Utilities Limited
- Thames Water Utilities Finance plc
- Thames Water Finance plc
- Kemble Water Finance plc
Significant events
- “In December 2023 the Group announced proposals for a financial restructuring. The Directors consider that there is a material uncertainty that may cast significant doubt on the Group and Company's ability to continue as a going concern in relation to the preparation of the financial statements, as the restructuring is not yet complete and there is no certainty that all conditions for its completion will be met.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
13 active · 87 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| FRAISER, Andrew | Secretary | 2024-03-27 | — | — |
| BANKS, Adam | Director | 2025-03-28 | Feb 1971 | British |
| BUCK, Steven John | Director | 2025-04-07 | Feb 1969 | British |
| DE BRUNNER, Aidan Whiteman | Director | 2024-09-01 | Jun 1972 | British,Irish |
| GETHING, Julian | Director | 2025-01-22 | Feb 1965 | British |
| KOTECHA, Nirmal Dhirajlal | Director | 2025-03-28 | Nov 1961 | British |
| LAND, Nicholas Charles Edward | Director | 2017-02-06 | Feb 1948 | British |
| LYNN, Catherine Susan, Ms. | Director | 2018-11-28 | Apr 1964 | British |
| MCNAUGHTON, Andrew James | Director | 2025-03-28 | Nov 1963 | British |
| MONTAGUE, Adrian Alastair, Sir | Director | 2023-07-10 | Feb 1948 | British |
| PEARSON, Ian Phares | Director | 2014-09-01 | Apr 1959 | British |
| ROBSON, Neil Jonathan | Director | 2024-10-02 | Feb 1969 | British |
| WESTON, Christopher Phillip Anthony | Director | 2024-01-08 | Jan 1964 | British |
Show 87 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BADCOCK, David | Secretary | — | 2001-01-01 |
| BILLETT, Sonia | Secretary | 2018-11-28 | 2021-12-23 |
| BYRNE, Simon Harvey | Secretary | 2007-02-22 | 2007-08-23 |
| CAMPBELL-WALES, Carolyn | Secretary | 2014-11-27 | 2016-07-08 |
| DAVIS, Christopher Charles | Secretary | 2006-06-30 | 2007-06-30 |
| HAMBROOK, Rachael | Secretary | 2022-12-19 | 2024-03-27 |
| HAMILTON, Iain Alexander | Secretary | 2007-09-26 | 2009-10-07 |
| HANSON, Joel Edmund | Secretary | 2007-08-23 | 2014-11-27 |
| HUGHES, David Jonathan | Secretary | 2013-11-29 | 2022-05-27 |
| JOHNSON, Keith Graham | Secretary | 2001-01-01 | 2006-06-30 |
| SARSON, Gillian | Secretary | 2009-11-27 | 2013-11-29 |
| SARSTED, Wendy Helena | Secretary | 2007-02-22 | 2007-08-23 |
| SLOAN, Emma Victoria | Secretary | 2016-09-14 | 2018-04-20 |
| SLOAN, Emma Victoria | Secretary | 2016-09-01 | 2018-04-20 |
| SWIERGON, Benjamin Michal | Secretary | 2022-05-27 | 2022-12-19 |
| ABRAIRA, Luis Fernando Arana | Director | 2011-08-04 | 2012-01-19 |
| ABRAIRA, Luis Fernando Arana | Director | 2010-01-01 | 2011-01-01 |
| ABRAIRA, Luis Fernando Arana | Director | 2008-01-09 | 2009-01-01 |
| ALEXANDER, William John | Director | — | 2005-11-16 |
| ANDERSON, Craig | Director | 2001-09-20 | 2005-01-31 |
| ANTOLIK, Peter Szymon | Director | 2006-12-01 | 2008-02-14 |
| AYLARD, Richard John | Director | 2005-01-21 | 2006-12-01 |
| BADCOCK, David | Director | — | 2001-01-01 |
| BAGGS, Martin Wayne | Director | 2006-12-01 | 2016-08-31 |
| BALDRY, Lorraine Ingrid | Director | 2014-09-01 | 2019-03-28 |
| BATEY, Simon George | Director | 2009-01-01 | 2010-01-01 |
| BATEY, Simon George | Director | 2007-09-03 | 2008-01-09 |
| BATEY, Simon George | Director | 2007-05-24 | 2007-08-31 |
| BATEY, Simon George | Director | 2006-10-19 | 2006-12-01 |
| BECKLEY, Edward Thomas | Director | 2008-03-26 | 2015-03-13 |
| BENTLEY, Sarah Elise | Director | 2020-09-01 | 2023-06-27 |
| BLOMFIELD SMITH, Rosamund | Director | 2012-11-29 | 2015-03-13 |
| BLOMFIELD-SMITH, Rosamund Evelyn | Director | 2008-02-14 | 2011-11-22 |
| BOESENBERG, Kieren George | Director | 2009-04-01 | 2011-11-21 |
| BOTTCHER, Werner | Director | 2003-09-19 | 2006-01-20 |
| BOUDIER, James Kendall | Director | — | 2001-09-20 |
| BOWE, Colette, Dr | Director | 2001-07-03 | 2006-12-01 |
| BOX, Stephen John | Director | 2006-12-01 | 2010-03-08 |
| BOYLIN, Timothy John | Director | 1999-07-05 | 2000-01-01 |
| BRADBURY, Kenton Edward | Director | 2017-05-31 | 2019-07-01 |
| BRAITHWAITE, Mark William | Director | 2015-06-16 | 2017-05-31 |
| BRAITHWAITE, Mark William | Director | 2007-08-31 | 2011-09-20 |
| BUCHANAN, Alistair | Director | 2018-07-09 | 2020-07-03 |
| BUCK, Steven John | Director | 2005-02-01 | 2006-12-01 |
| BUFFERY, Daniel | Director | 2013-12-13 | 2015-01-01 |
| CHANT, Guy Arthur | Director | 2000-01-01 | 2001-09-20 |
| CHERRETT, Julia | Director | 2000-07-11 | 2001-09-20 |
| COCHRAN, Alastair Edward | Director | 2021-09-27 | 2025-03-27 |
| CRONE, Peter Edward Dalrymple | Director | 2006-12-01 | 2008-02-14 |
| DEACON, Christopher Richard | Director | 2006-12-01 | 2019-07-01 |
| DESOUZA, Paul Francis Cajetan | Director | 2007-07-06 | 2008-09-10 |
| DONOVAN, Paul Michael | Director | 2019-07-01 | 2021-10-01 |
| DYER, Peter, Dr | Director | 2013-07-31 | 2015-03-13 |
| DYER, Peter, Dr | Director | 2006-12-01 | 2007-05-23 |
| EAVES, Simon Richard | Director | 2012-01-20 | 2014-10-15 |
| ENGLAND, Jeremy Mark | Director | 2004-06-07 | 2006-12-01 |
| EVENDEN, Rhys David | Director | 2011-12-12 | 2013-08-16 |
| FINCHAM, Nicholas Robert | Director | 2016-04-01 | 2019-03-31 |
| GAINS, John Christopher, Sir | Director | 2005-04-01 | 2006-12-01 |
| GLENDINNING, David John | Director | 2000-01-01 | 2001-09-20 |
| GOMEZ, Pilar | Director | 2010-01-01 | 2010-03-31 |
| GOMEZ, Pilar | Director | 2008-01-09 | 2009-01-01 |
| GREENLEAF, Richard | Director | 2013-07-31 | 2015-03-13 |
| GREGOR, Robert John | Director | 2007-10-15 | 2008-02-14 |
| GREGOR, Robert John | Director | 2006-12-01 | 2007-10-15 |
| GUERREIRO, Manuel Cavaco | Director | 2011-01-01 | 2011-08-04 |
| HARPER, William Ronald, Mr. | Director | — | 1994-05-10 |
| HEATHCOTE, Christopher John | Director | 2013-06-21 | 2015-06-12 |
| HEIJNINGEN, Cornelia Bernadette Maria Van | Director | 2013-01-02 | 2014-04-01 |
| HEIJNINGEN, Cornelia Bernadette Maria Van | Director | 2009-02-09 | 2010-01-01 |
| HESTER, Nicholas James Mark | Director | 2000-01-01 | 2001-02-28 |
| HILL, Marcus Christopher | Director | 2012-01-20 | 2015-03-13 |
| HOFFMAN, Michael Richard | Director | — | 1996-03-31 |
| HOLLAND, Gregory John | Director | 2000-01-01 | 2001-09-20 |
| HOLLAND-KAYE, William John | Director | 2023-04-01 | 2024-12-31 |
| HORLER, Nicholas Wenham | Director | 2014-04-14 | 2017-12-19 |
| HURCOM, John | Director | — | 1997-03-31 |
| HUTTON, Deirdre Mary, Dame | Director | 2010-07-22 | 2019-01-31 |
| ISRAEL, Ross Daniel | Director | 2008-09-10 | 2011-12-12 |
| ISRAEL, Ross Daniel | Director | 2006-12-01 | 2007-06-28 |
| JAY, Stephen Robert | Director | 1997-03-11 | 1998-10-13 |
| JONES, Trevor James Victor | Director | 2002-05-17 | 2003-09-19 |
| KOLENC, Stanislav Michael | Director | 2009-02-09 | 2013-01-02 |
| KOLENC, Stanislav Michael | Director | 2008-02-26 | 2009-02-09 |
| LAMBERT, Guy | Director | 2022-09-29 | 2024-03-27 |
| LAMBERT, Guy | Director | 2014-10-15 | 2019-01-28 |
| LEONG, Sara Mei Lee | Director | 2010-07-22 | 2011-02-11 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Thames Water Utilities Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 505 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-18 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-27 | AA | accounts | Accounts with accounts type group | |
| 2025-07-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-28 | CH01 | officers | Change person director company with change date | |
| 2025-04-17 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-31 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-14 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-06 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-03-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-03-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-01-31 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-15 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-11 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-01 | AA | accounts | Accounts with accounts type group | |
| 2024-09-13 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-25 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- 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.
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+0.8%
£2,621,000,000 £2,641,000,000
highest in 3 filed years
-
Cash
-3.7%
£217,400,000 £209,400,000
lowest in 3 filed years
-
Net assets
-16.7%
-£8,825,200,000 -£10,296,800,000
lowest in 3 filed years
-
Employees
-1.3%
7,931 7,824
lowest in 3 filed years
-
Operating profit
+96.8%
£248,000,000 £488,000,000
-
Profit before tax
+427.1%
£61,300,000 £323,100,000
-
Wages
+0.1%
£624,500,000 £625,000,000
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