QUADGAS PLEDGECO LIMITED

• ◆

  5 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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 are satisfied that the company has adequate resources to remain in operation, and that the Directors intend it to do so, for at least one year from the date the financial statements are signed. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.”

Group structure

1. QUADGAS PLEDGECO LIMITED · parent
   1. Quadgas MidCo Limited 100% · England and Wales · Intermediate Holding company and provision of long term finance
   2. Quadgas Finance Plc 100% · England and Wales · Provision of long term finance
   3. Cadent Gas Limited 100% · England and Wales · Gas Distribution
   4. Cadent Finance Plc 100% · England and Wales · Provision of long term finance
   5. Cadent Services Limited 100% · England and Wales · Provision of services (including property management)
   6. Cadent Gas Pension Trustee Limited 100% · England and Wales · Trustee of occupational pension scheme
   7. Cadent Gas Pension Property Company 1 Limited 100% · England and Wales · Trustee of property assets of occupational pension scheme
   8. Cadent Gas Pension Property Company 2 Limited 100% · England and Wales · Trustee of property assets of occupational pension scheme
   9. Cadent Gas Pension Services Limited 100% · England and Wales · Management of pension services

Significant events

• “On 30 April 2025, Quadgas PledgeCo Limited amended the terms on its £902 million internal loan from its immediate parent Quadgas HoldCo Limited, extending the termination date to 30 April 2050 and increasing the interest rate to 8.1%. All other terms remain unchanged. At the same time, Quadgas PledgeCo Limited also amended the terms on the internal loan made to its subsidiary Quadgas MidCo Limited, extending the termination date to 30 April 2050 and increasing the interest rate to 8.1%. All other terms remain unchanged.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

0

last 24 months

Officers appointed

5

last 12 months

Officers resigned

5

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  0%

  £4,144,000,000 → £4,144,000,000

• Employees

  —

  Not reported

• Profit before tax

  +8.2%

  £367,000,000 → £397,000,000

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