LAST MILE ELECTRICITY LIMITED

Company number

SC234694

Status

Active

Incorporation

2002-07-29

Last accounts made up

2025-03-31

Account category

FULL

Primary SIC

35130

Hubs

UK Energy & Climate

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The statement of financial position of the company shows net current liabilities of £17,671,000 (2024: £65,998,000) and a net asset position of £59,256,000 (2024: £42,723,000). The company continues to be supported by the group, as any Amounts owed to group undertakings will not be recalled within the next 12 months, with such support having been formally provided in writing and remains in effect at the time of approving the financial statements. In March 2022, the group entered into a £367m long term financing facility, provided by a group of banks and institutional lenders, In July 2024, this increased by a further £220m from lenders within the existing group, details of which are provided in note 1 of the financial statements. The facility can be drawn down as new connections are energised and based on projections, the directors consider that the group will continue to operate within the limits of the facility and covenants. After considering the above, the directors believe that the company is well placed, at the time of approving the financial statements, to manage its business risks (as detailed in the strategic report) successfully and has adequate resources to continue in operational existence for a period of 12 months from the signing of the financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.”

Significant events

• “In October 2024, Infracapital sold 50% of the share capital of Last Mile Infrastructure (Holdings) Limited to Macquarie, therefore as documented below, the company's ultimate parent undertakings are now both Infracapital and Macquarie. As both parties are equal 50% shareholders and no single party has the ability to exert control over the group, there is no ultimate controlling party.”
• “During the year to 31 March 2025, the number of electricity connections energised has continued to increase, representative of the company's continued investment in its infrastructure networks supporting the UK housing market and commercial property market together with the company's success in securing connections from third party providers.”
• “The order book of new connections secured through new contract awards is also strong, underpinned by ongoing contract wins by fellow subsidiaries Energetics Design & Build Limited and UK Power Solutions Limited. The company's sales channel via third party independent connection providers also contributes to this orderbook growth.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers