H2NORTHEAST LIMITED

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 102

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors' review of the accounts, budgets, forward plan and access to support from its ultimate parent companies lead them to believe that the Company has enough resources to meet the costs of the Company's commitments and manage its business risks. In performing their assessment, the directors have considered the ability of the Company to access necessary funding through shareholder loans. The directors have assessed that this will provide the Company with sufficient resources to continue as a going concern for a period to 30 June 2026.”

Significant events

• “During 2022, the Group's H2NorthEast development on Teesside was selected by the UK Government as one of four low carbon hydrogen projects that progressed into the next stage of the DESNZ (Department of Energy security and Net Zero) Phase-2 Cluster Sequencing Process.”
• “In the fourth quarter of 2023 H2NorthEast started front end engineering design (FEED) having been successfully awarded funding in March through the Net Zero Hydrogen Fund, a UK government initiative to support the commercial deployment of low carbon hydrogen projects and subsequently in December 2023, SSE Hydrogen acquired a 50% interest in the H2NorthEast.”
• “In November 2024 the Company received a Net Zero Hydrogen Fund Grant from the Department for Energy Security and Net Zero.”

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

1

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

  —

  Not reported

• Cash

  +16.5%

  £8,167,000 → £9,513,000

• Net assets

  -1,137.5%

  -£1,168,000 → -£14,454,000

• Employees

  —

  Not reported

• Operating profit

  +43.8%

  -£22,160,000 → -£12,458,000

• Profit before tax

  +40.2%

  -£22,193,000 → -£13,270,000

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