GAST MIDCO LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-06-29 (in 1mo)
Last made up 2025-06-15
Watchouts
None on the register
Cash
£53M
+103.8% vs 2024
Net assets
£3B
-9.1% vs 2024
Employees
—
Average over period
Profit before tax
£104M
-58.7% vs 2024
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £1,769,000,000 | £1,539,000,000 | |
| Operating profit | £652,000,000 | £402,000,000 | |
| Profit before tax | £252,000,000 | £104,000,000 | |
| Net profit | £173,000,000 | £72,000,000 | |
| Cash | £26,000,000 | £53,000,000 | |
| Total assets less current liabilities | £5,441,000,000 | £5,438,000,000 | |
| Net assets | £2,754,000,000 | £2,504,000,000 | |
| Equity | £2,754,000,000 | £2,504,000,000 | |
| Average employees | — | — | |
| Wages | £111,000,000 | £134,000,000 |
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 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 36.9% | 26.1% | |
| Net margin | 9.8% | 4.7% | |
| Return on capital employed | 12.0% | 7.4% | |
| Gearing (liabilities / total assets) | 77.3% | 79.2% | |
| Current ratio | 1.40x | 0.87x | |
| Interest cover | 1.44x | 1.07x |
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
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“These financial statements have been prepared on a going concern basis, which presumes 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. The Company provides financing using loans from banks and investor debt.”
Group structure
- GAST MIDCO LIMITED · parent
- National Gas Transmission Holdings Limited 100%
- National Gas Transmission PLC 100%
- National Gas Metering Limited 100%
- National Gas Transmission Pension Trustee Ltd 100%
- National Gas Transmission Pension Scheme Nominee Company One Limited 100%
- National Gas Transmission Pension Scheme Nominee Company Two Limited 100%
- Premtech Limited 100%
Significant events
- “In October 2024, National Gas signed our Armed Forces Covenant to demonstrate our commitment to National Gas colleagues who have served our country.”
- “National Gas successfully completed - on time and to budget - the separation of our finance, people and IT systems from National Grid in January 2025.”
- “In April 2024, National Gas launched its Belonging Hub, a one-stop-shop for all things relating to diversity, equity and inclusion (DEI).”
- “In April, National Gas boosted its design engineering capability by acquiring Premtech Ltd.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 12 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BERNSAND, Charlotta Sofia | Secretary | 2023-01-31 | — | — |
| BYRNE, David | Secretary | 2023-01-31 | — | — |
| AUER, Liam Patrick | Director | 2025-01-06 | May 1989 | Australian |
| DELA CRUZ, Jenny Lyn | Director | 2024-01-29 | Dec 1990 | Canadian |
| DIVOKY, Jerry James | Director | 2023-01-31 | Aug 1966 | Canadian |
| HIGGINS, Howard Charles | Director | 2022-06-16 | Mar 1953 | British |
| MATHIESON, Mark William | Director | 2022-06-16 | Sep 1966 | British |
| PRICE, William David George | Director | 2022-06-16 | Sep 1984 | British |
| QURESHI, Abdul Moiz | Director | 2023-07-21 | Aug 1986 | Canadian,Pakistani |
| WATSON, Robin | Director | 2025-03-21 | Feb 1967 | British |
Show 12 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BARNES, Megan | Secretary | 2022-06-16 | 2022-11-18 |
| HAGAN, Lawrence | Secretary | 2022-06-16 | 2023-01-31 |
| AGOUMI, Mia | Director | 2023-01-31 | 2024-03-11 |
| DICKIE, Kylee Marie | Director | 2023-01-31 | 2024-03-11 |
| FARKAS, David | Director | 2024-10-21 | 2025-02-28 |
| HUMPHRIES-NEW, Natalie | Director | 2023-01-31 | 2024-09-26 |
| KEELING, Timothy | Director | 2023-03-04 | 2023-11-30 |
| KELLY, Rhian Catriona | Director | 2023-01-31 | 2024-03-11 |
| PHAM, Nghi Do Truong | Director | 2023-03-04 | 2023-07-21 |
| TSIRIMPA, Aikaterini | Director | 2022-06-16 | 2024-09-26 |
| WEBB, Lincoln Hillier | Director | 2023-01-31 | 2024-10-21 |
| WILSON, Benjamin Hollis | Director | 2022-06-16 | 2024-09-26 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Macquarie Infrastructure And Real Assets (Europe) Limited | Corporate entity | Significant influence | 2022-09-23 | Active |
| Gast Pledgeco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-06-16 | Active |
Filing timeline
Last 20 of 52 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-02-19 MA Memorandum articles
- 2025-02-19 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-07-30 | AA | accounts | Accounts with accounts type group | |
| 2025-06-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-26 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-19 | MA | incorporation | Memorandum articles | |
| 2025-02-19 | RESOLUTIONS | resolution | Resolution | |
| 2025-01-06 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-23 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-23 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-30 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-30 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-30 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-01 | AA | accounts | Accounts with accounts type group | |
| 2024-07-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-06-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-22 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-22 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-22 | TM01 | officers | Termination director company with name termination date | |
| 2024-01-31 | AP01 | officers | Appoint person director company with name date | |
| 2023-12-07 | SH19 | capital | Capital statement capital company with date currency figure |
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
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
-13%
£1,769,000,000 £1,539,000,000
-
Cash
+103.8%
£26,000,000 £53,000,000
-
Net assets
-9.1%
£2,754,000,000 £2,504,000,000
-
Employees
—
Not reported
-
Operating profit
-38.3%
£652,000,000 £402,000,000
-
Profit before tax
-58.7%
£252,000,000 £104,000,000
-
Wages
+20.7%
£111,000,000 £134,000,000
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