NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WEST) PLC

1. NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WEST) PLC 2022-09-20 → present
2. WESTERN POWER DISTRIBUTION (SOUTH WEST) PLC 2001-07-31 → 2022-09-20
3. SOUTH WESTERN ELECTRICITY PLC 2001-07-27 → 2001-07-31
4. SOUTH WESTERN ELECTRICITY PLC 1989-04-01 → 2001-07-27

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

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.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have considered the availability of facilities, the relatively stable and regulated nature of the business, the forecast long term business plan, the consistent credit ratings of the Company, the existing and future forecast covenant compliance of the Company which includes the gearing ratio and the anticipated ability of the Company to be able to raise additional long term debt in the future. The directors have also assessed the principal risks discussed in the strategic report (pages 33-36) in arriving at the going concern assessment for the preparation of the financial statements. Refer to pages 67 for more detail on the going concern assessment. The Directors confirm that they have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of signing the accounts and have therefore concluded to adopt the going concern basis in preparing the financial statements.”

Significant events

• “Subsequent to year end, in July 2025, dividend of £35.0m has been approved by the Board. There have been no other significant events affecting the Company after the reporting period.”

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

0

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.

• Turnover

  +31.4%

  £408,400,000 → £536,500,000

• Cash

  -436.4%

  -£1,100,000 → -£5,900,000

• Net assets

  +11.6%

  £1,385,100,000 → £1,545,800,000

• Employees

  +4%

  1,654 → 1,720

• Operating profit

  +67.2%

  £186,400,000 → £311,600,000

• Profit before tax

  +95.4%

  £127,400,000 → £248,900,000

• Wages

  +6.2%

  £102,400,000 → £108,700,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers