NORTHERN POWERGRID (NORTHEAST) PLC

1. NORTHERN POWERGRID (NORTHEAST) PLC 2020-06-03 → present
2. NORTHERN POWERGRID (NORTHEAST) LIMITED 2011-10-28 → 2020-06-03
3. NORTHERN ELECTRIC DISTRIBUTION LIMITED 1994-08-11 → 2011-10-28
4. PETUNIA LIMITED 1994-03-09 → 1994-08-11

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

IFRS

Reporting scope

Consolidated group

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Consequently, after making their assessment, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for at least 12 months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.”

Group structure

1. NORTHERN POWERGRID (NORTHEAST) PLC · parent
   1. Northern Electric Finance plc 100% · England and Wales · Finance company

Significant events

• “The decrease in equity is primarily down to the issue of a £300.0 million dividend paid during the financial year, see Note 28.”
• “In terms of accelerating connections, 85 eligible customers were issued accelerated offers as part of the technical limits initiative, reducing the average connection date by six years.”
• “The Company invested £231.9 million during the year through its approved Network investment strategy (2023: £192.7 million), which was designed to improve Network performance and increase resilience. Various major projects were undertaken to reinforce the primary Network, refurbish transformers, rebuild overhead lines, replace oil-filled cables, change deteriorated poles, replace switchgear and install and commission new remote-control points.”

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

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +23.1%

  £435,747,000 → £536,365,000

• Cash

  —

  Not reported

• Net assets

  +9.3%

  -£1,318,871,000 → -£1,196,747,000

• Employees

  +8%

  1,343 → 1,451

• Operating profit

  +59.1%

  £166,006,000 → £264,107,000

• Profit before tax

  +61.9%

  £145,655,000 → £235,813,000

• Wages

  +14.1%

  £67,670,000 → £77,219,000

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