HORNSEA 1 PSC LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. HORNSEA 1 PSC LIMITED 2025-01-03 → present
2. ORSTED HORNSEA 1 HOLDINGS LIMITED 2017-12-18 → 2025-01-03

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 (Reduced Disclosure Framework)

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. In assessing whether the going concern assumption is appropriate, management has considered all available information about the future, which is at least 12 months from the date of approval of the financial statements.”

Group structure

1. HORNSEA 1 PSC LIMITED · parent
   1. Hornsea 1 Limited 50% · England · Wind Farm
   2. Hornsea 1 Holdings Limited 50% · England · Holding Company

Significant events

• “On 31 December 2024 following a change in the company's immediate parents, the company entered into a long term offtake agreement ("F.PPPA") which provides secure revenues from power sales.”
• “In the year 2024, Orsted Power (UK) Limited transferred 75.1% of its shareholding in the company to Orsted UK HOW01 Holdings Limited and 24.9% of its shareholding in the company to Makalu UK BorrowerCo Limited.”
• “The company changed its name from Orsted Hornsea 1 Holdings Limited to Hornsea 1 PSC Limited effective from 3 January 2025.”
• “During the financial year 2024, 1,998 ordinary £1 shares were issued in three tranches.”
• “On 31 December 2024 the outstanding loan balance of £1,443,465,274 (including £50,465,274 of accrued interest) was converted into share premium.”
• “On 31 January 2025, 4 April 2025 and 2 July 2025 interim dividends were paid of £120,000,000, £69,700,000 and £110,689,533 respectively. These were not recognised as a liability on the balance sheet as at 31 December 2024.”
• “On 26 March 2025 and 30 June 2025 the company completed share premium reductions in order to facilitate upstream dividend payments.”

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

Filings

11

last 12 months

Capital events

4

last 24 months

Officers appointed

2

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

  -4.7%

  £448,576,688 → £427,424,545

• Cash

  -9%

  £17,347,119 → £15,793,267

• Net assets

  -355.6%

  -£405,421,827 → -£1,847,168,737

• Employees

  —

  Not reported

• Operating profit

  -6.5%

  £168,832,230 → £157,904,757

• Profit before tax

  -25.6%

  £76,259,783 → £56,707,111

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