SEABANK POWER LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-02-15 (in 9mo)
Last made up 2026-02-01
Watchouts
None on the register
Cash
£32M
-10.7% vs 2023
Net assets
£110M
-11.5% vs 2023
Employees
58
+7.4% vs 2023
Profit before tax
£44M
-13.9% vs 2023
Name history
Renamed 1 time since incorporation
- SEABANK POWER LIMITED 1991-07-26 → present
- GIGABIT SERVICES LIMITED 1991-03-13 → 1991-07-26
Net assets
2-year trend · vs Utilities median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £279,744,000 | £279,169,000 | |
| Operating profit | £50,485,000 | £42,551,000 | |
| Profit before tax | £51,067,000 | £43,979,000 | |
| Net profit | £38,833,000 | £32,701,000 | |
| Cash | £36,237,000 | £32,345,000 | |
| Total assets less current liabilities | £225,154,000 | £194,226,000 | |
| Net assets | £124,603,000 | £110,304,000 | |
| Equity | £124,603,000 | £110,304,000 | |
| Average employees | 54 | 58 | |
| Wages | £5,034,000 | £5,713,000 |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 18.0% | 15.2% | |
| Net margin | 13.9% | 11.7% | |
| Return on capital employed | 22.4% | 21.9% | |
| Gearing (liabilities / total assets) | 61.7% | 61.0% | |
| Current ratio | 4.89x | 3.71x | |
| Interest cover | 86.74x | 96.71x |
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
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.”
Significant events
- “During the year, the Company completed planned minor maintenance on both Module 1 and Module 2 as part of the LTMA.”
- “A change order amendment to the LTMA was agreed in December 2023 to install a new Distributed Control System for both modules at the next planned major maintenance, this will support future operating and maintenance resilience and enhance cyber security.”
- “During 2024, a failure of the Module 1 and Module 2 cooling water pipe led to reduced availability and a reduction in the Tolling Agreement revenue.”
- “In March 2024 the Company successfully secured Capacity Agreements with National Grid for the period October 2027 to the end September 2028.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 62 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SWAN, Colin | Secretary | 2024-02-02 | — | — |
| HUNTER, Andrew John | Director | 2010-05-28 | Oct 1958 | British |
| MACKAY, Mandy | Director | 2024-02-02 | Jan 1976 | British |
| MACRAE, Duncan Nicholas | Director | 2011-06-16 | Sep 1970 | British |
| MCGEE, Neil Douglas | Director | 2010-05-28 | Oct 1951 | Australian |
| RUDD, Adrian Marc James | Director | 2022-04-21 | May 1971 | British |
| TSAI, Chao Chung Charles | Director | 2010-09-10 | Jul 1957 | Canadian |
Show 62 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| EDWARDS, Mark | Secretary | 1999-01-17 | 2002-10-25 |
| GARRIHY, Anne | Secretary | 1995-11-22 | 1997-01-27 |
| INMAN, Carol Susan | Secretary | 2002-10-25 | 2010-05-28 |
| JONES, Maria Bernadette | Secretary | — | 1995-10-10 |
| MACAULAY, Barbara Scott | Secretary | 1995-02-24 | 1997-01-17 |
| MACKAY, Lena Elizabeth | Secretary | 2022-06-27 | 2023-01-17 |
| MARKHAM, Una | Secretary | 1999-09-10 | 2001-09-07 |
| MAYER, Stuart Michael | Secretary | 2015-07-13 | 2022-06-27 |
| MCVEAN, Laura | Secretary | 2010-09-13 | 2013-09-25 |
| PITTAM, Laura Jane | Secretary | 2013-09-25 | 2015-07-13 |
| THOMAS, Luke | Secretary | 1997-01-17 | 1999-01-17 |
| ADAMSON, William Harvey | Director | 2002-09-27 | 2005-07-12 |
| BRANDON, Stephen John | Director | 1996-01-19 | 1999-10-12 |
| BROOKS, David | Director | — | 1994-03-11 |
| BROWN, Malcolm Archibald Halliday | Director | 2000-01-19 | 2003-02-19 |
| BROWN, Robert James | Director | 1991-07-08 | 1991-10-01 |
| BRYANT, John | Director | — | 1995-05-22 |
| BURT, Peter | Director | 2005-03-31 | 2008-03-28 |
| CHEN, Joanna Tsien Hua | Director | 2010-05-28 | 2011-06-16 |
| COOLIDGE, Henry Ten Eyck | Director | 2004-12-01 | 2009-03-31 |
| DOWNES, John Anthony | Director | 2018-06-20 | 2019-08-28 |
| EARL, John Charles | Director | 1999-07-21 | 2002-01-08 |
| FOX, Roger Anthony | Director | 2003-02-19 | 2004-02-16 |
| GARDNER, Roy Alan, Sir | Director | 1996-01-19 | 1996-11-11 |
| GRAY, Ann Miriam Georgina | Director | 2019-10-14 | 2025-06-30 |
| HAMPTON, Philip Roy | Director | 1996-11-11 | 1999-07-21 |
| HILL, Melvyn | Director | 2009-03-31 | 2010-02-01 |
| HONEYMAN, Alexander Hughes | Director | 2015-07-13 | 2019-10-14 |
| HUGHES, Michael Alan | Director | — | 1994-02-22 |
| JUGGINS, Graham Gerald | Director | 1999-04-12 | 2005-06-07 |
| MARTIN, James Henry | Director | 1997-11-01 | 2001-10-02 |
| MORGAN, Iwan Rees | Director | 2016-06-16 | 2019-10-14 |
| PHILLIPS-DAVIES, Paul Morton Alistair | Director | 2005-06-07 | 2013-11-14 |
| PIBWORTH, Martin James | Director | 2013-11-14 | 2015-07-13 |
| PRETSWELL, William Somerville | Director | — | 1995-12-12 |
| READ, Arnold Wadkin, Dr | Director | 1996-01-19 | 1997-10-31 |
| ROLLINS, Mark Andrew | Director | 2008-09-08 | 2009-10-09 |
| ROSE, Stephen Paul | Director | 2017-03-16 | 2018-06-18 |
| SARJEANT, Malcolm | Director | 2002-01-08 | 2004-12-01 |
| SHAW, Nigel Richard | Director | 1999-10-12 | 2001-07-27 |
| SIGSWORTH, David, Prof. | Director | 1996-01-19 | 2005-03-31 |
| SKIPP, Peter Raymer Thomas | Director | 1995-08-17 | 1995-12-12 |
| SMITH, Bryan Crossley | Director | — | 1995-12-12 |
| SMITH, Glenn | Director | 1995-08-17 | 1996-01-18 |
| SMITH, James Isaac | Director | 2022-01-11 | 2024-02-02 |
| SMITH, Paul Richard | Director | 2001-10-02 | 2016-06-16 |
| SOUCHARD, Richard Jack | Director | 2004-02-16 | 2010-03-31 |
| SOUTHALL, Graham Brinsley | Director | 2007-03-17 | 2008-06-27 |
| SURRALL, Stephen John | Director | 2009-10-09 | 2010-05-28 |
| SURRALL, Stephen John | Director | 2001-07-27 | 2002-09-27 |
| SUTHERLAND, John Adam | Director | 2008-04-09 | 2017-03-16 |
| TAYLOR, Philip Raymond | Director | 1995-12-13 | 1996-01-18 |
| TAYLOR, Philip Jonathan | Director | 1994-02-22 | 1995-05-22 |
| THOMAS, Anthony | Director | 2019-08-28 | 2022-03-31 |
| TONG BARNES, Wendy | Director | 2012-10-30 | 2023-11-15 |
| WELCH, Victor John | Director | — | 1994-05-03 |
| WELSH, Brian John | Director | 2010-04-15 | 2010-05-28 |
| WHEELER, Stephen, Mr. | Director | 2019-10-14 | 2022-01-11 |
| WILKINS, Roy, Dr | Director | 1994-05-03 | 1995-12-12 |
| WILLIAMS, Alistair Charles Walter | Director | 2005-07-12 | 2007-03-17 |
| WOOLLACOTT, Paul Nicholas | Director | 1995-12-13 | 2000-01-19 |
| YOUNG, Arnold Roger Alexander | Director | 1996-01-19 | 1999-01-21 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Electricity First Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-04-06 | Active |
| Sse Seabank Investments Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-04-06 | Active |
Filing timeline
Last 20 of 309 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-07-30 RESOLUTIONS Resolution
- 2024-07-24 RESOLUTIONS Resolution
- 2024-02-05 RESOLUTIONS Resolution
- 2023-09-05 RESOLUTIONS Resolution
- 2023-07-19 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-02-02 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-07-30 | RESOLUTIONS | resolution | Resolution | |
| 2025-07-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-22 | AA | accounts | Accounts with accounts type full | |
| 2025-02-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-24 | RESOLUTIONS | resolution | Resolution | |
| 2024-06-13 | AA | accounts | Accounts with accounts type full | |
| 2024-02-05 | RESOLUTIONS | resolution | Resolution | |
| 2024-02-02 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-02-02 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-02 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-22 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-11-15 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-12 | CH01 | officers | Change person director company with change date | |
| 2023-09-12 | CH01 | officers | Change person director company with change date | |
| 2023-09-05 | RESOLUTIONS | resolution | Resolution | |
| 2023-09-05 | ANNOTATION | |||
| 2023-07-19 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-0.2%
£279,744,000 £279,169,000
-
Cash
-10.7%
£36,237,000 £32,345,000
-
Net assets
-11.5%
£124,603,000 £110,304,000
-
Employees
+7.4%
54 58
-
Operating profit
-15.7%
£50,485,000 £42,551,000
-
Profit before tax
-13.9%
£51,067,000 £43,979,000
-
Wages
+13.5%
£5,034,000 £5,713,000
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