SW (FINANCE) I PLC
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2025-03-31
Confirmation statement due
2026-10-26 (in 5mo)
Last made up 2025-10-12
Watchouts
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
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Material uncertainty over going concern
SWS disclosed a material uncertainty with respect to going concern in its annual report and accounts for 2024-25, related to a number of connected events that are outside the control of the Board and which may cast significant doubt on SWS's and therefore the company's ability to continue as a going concern such that it may be unable to realise its assets and discharge its liabilities in the normal course of business.
Accounts
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“SWS disclosed a material uncertainty with respect to going concern in its annual report and accounts for 2024-25, related to a number of connected events that are outside the control of the Board and which may cast significant doubt on SWS's and therefore the company's ability to continue as a going concern such that it may be unable to realise its assets and discharge its liabilities in the normal course of business.”
Significant events
- “On 1 April 2025 SWS made changes to some of its financial derivatives. The break clause in a swap with a notional value of £92.1 million was extended from November 2025 to June 2026 and accretion payments due in March 26 associated with various swaps were extended to June 2026. On the same date SWS agreed an £800.0 million committed facility, providing additional liquidity.”
- “On 1 July 2025, SWS announced that it had secured an offer of equity support from a consortium led by funds managed by Macquarie Asset Management to support its AMP8 investment programme, comprising a legally binding equity commitment of £655 million (the "Initial AMP8 Equity Commitment") provided on the terms of an equity commitment letter and confirmation of intent to provide further equity commitments of up to a further £545 million - and with a minimum of £245 million - by December 2025.”
- “On 4 July 2025, Sandstone Bidco Limited acquired the issued share capital of Greensands Junior Finance Limited and Southern Water (Greensands) Financing plc from Greensands (UK) Limited (in administration), becoming the new indirect UK holding company of SW (Finance) I Plc, replacing Greensands Holdings Limited, the previous UK holding company.”
- “On 8 July 2025, SWS announced that it had entered into a lock-up agreement with financing creditors of the SWS group representing more than 72% by value of the Class A indebtedness in support of certain proposals, including the ratings event of default amendment, (being one of the key conditionalities of the Initial AMP8 Equity Commitment).”
- “In addition, on 8 July 2025 SWS confirmed that it had arranged a further £675.0 million of committed liquidity.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MANNING, Richard Denley John | Secretary | 2021-10-13 | — | — |
| LEDGER, Stuart Neil | Director | 2023-10-25 | Jan 1976 | British |
| MANNING, Richard Denley John | Director | 2021-10-13 | Nov 1964 | British |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GOSDEN, Lawrence Karl | Director | 2022-07-01 | 2023-10-25 |
| MCAULAY, Ian James | Director | 2021-10-13 | 2022-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Southern Water Services Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-10-13 | Active |
Filing timeline
Last 18 of 18 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-09 | AA | accounts | Accounts with accounts type full | |
| 2024-10-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-18 | AA | accounts | Accounts with accounts type full | |
| 2023-10-25 | CH01 | officers | Change person director company with change date | |
| 2023-10-25 | TM01 | officers | Termination director company with name termination date | |
| 2023-10-25 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-26 | AA | accounts | Accounts with accounts type full | |
| 2022-11-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-10-18 | SH01 | capital | Capital allotment shares | |
| 2022-10-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-07-26 | AA01 | accounts | Change account reference date company current extended | |
| 2022-07-15 | AP01 | officers | Appoint person director company with name date | |
| 2022-07-15 | TM01 | officers | Termination director company with name termination date | |
| 2021-10-22 | CERT8A | incorporation | Legacy | |
| 2021-10-22 | SH50 | reregistration | Application trading certificate | |
| 2021-10-13 | NEWINC | incorporation | Incorporation company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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
Latest filed period vs the prior one