SOUTHERN WATER (NR) LIMITED

• ⚠

  Material uncertainty over going concern

  The Directors are of the opinion that the equity raise and associated refinancings will be concluded but given it has not been committed at the date of the financial statements and its commitment is not within the Directors' control, believe that the risk that they do not conclude constitutes a material uncertainty that may cast significant doubt about 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.

1. SOUTHERN WATER (NR) LIMITED 2003-06-25 → present
2. ASPEN 4 LIMITED 2001-02-16 → 2003-06-25

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

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors are of the opinion that the equity raise and associated refinancings will be concluded but given it has not been committed at the date of the financial statements and its commitment is not within the Directors' control, believe that the risk that they do not conclude constitutes a material uncertainty that may cast significant doubt about 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.”

Group structure

1. SOUTHERN WATER (NR) LIMITED · parent
   1. Southern Water Limited 100% · UK · Holding company
   2. Southern Water Industries Limited · Dormant
   3. Bowsprit Holdings Limited · Dormant
   4. Monk Rawling Limited · Dormant
   5. Bowsprit Property Development Limited · To hold property rights
   6. EcoClear Limited · Dormant

Significant events

• “On the 1 April 2025 Southern Water 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 Southern Water agreed an £800.0 million committed facility, providing additional liquidity.”
• “On 1 July 2025, Southern Water announced that it had secured an offer of equity support from a consortium led by funds managed by Macquarie Asset Management to support its 2025-30 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, 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 Southern Water 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

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  0%

  £100,000 → £100,000

• Net assets

  0%

  £175,100,000 → £175,100,000

• Employees

  —

  Not reported

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