SMART METERING SYSTEMS LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-10 (in 6mo)
Last made up 2025-10-27
Watchouts
Cash
£39M
+47.6% vs 2023
Net assets
£472M
-7.1% vs 2023
Employees
1,114
-20.5% vs 2023
Profit before tax
-£7M
-143.3% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
7 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Name history
Renamed 3 times since incorporation — the current trading name was adopted 2024-06-11
- SMART METERING SYSTEMS LIMITED 2024-06-11 → present
- SMART METERING SYSTEMS PLC 2011-06-20 → 2024-06-11
- SMART METERING SYSTEMS LIMITED 2011-06-15 → 2011-06-20
- UK SMART METERING GROUP LIMITED 2009-10-27 → 2011-06-15
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £172,756,000 | £199,434,000 | |
| Operating profit | £29,466,000 | £12,951,000 | |
| Profit before tax | £17,117,000 | -£7,411,000 | |
| Net profit | £12,363,000 | -£11,172,000 | |
| Cash | £26,538,000 | £39,172,000 | |
| Total assets less current liabilities | £738,102,000 | £1,175,813,000 | |
| Net assets | £507,750,000 | £471,587,000 | |
| Equity | £507,750,000 | £471,587,000 | |
| Average employees | 1,402 | 1,114 | |
| Wages | £66,306,000 | £67,493,000 |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 17.1% | 6.5% | |
| Net margin | 7.2% | -5.6% | |
| Return on capital employed | 4.0% | 1.1% | |
| Gearing (liabilities / total assets) | 37.2% | 62.4% | |
| Current ratio | 1.27x | 1.29x | |
| Interest cover | 2.34x | 0.37x |
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
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the Group's current cash flow projections and having given consideration to various outcomes of future performance and forecast capital expenditure, including severe but plausible downside scenarios, the Directors consider it appropriate to continue to prepare the financial statements on a going concern basis and are of the view that there are no material uncertainties regarding the Group's going concern status.”
Group structure
- SMART METERING SYSTEMS LIMITED · parent
- SMS Energy Connections Limited 100%
- SMS Meter Assets Limited 100%
- SMS MAPCO I Limited 100%
- SMS Data Management Limited 100%
- UKMA (AF) Limited 100%
- SMS Corporate Services Limited 100%
- SMS Asset Management Limited 100%
- SMS Energy Services Limited 100%
- SMS Data Services Limited 100%
- CH4 Gas Utility and Maintenance Services Limited 100%
- SMS Utilities Academy Limited 100%
- Trojan Utilities Limited 100%
- Qton Solutions Limited 100%
- Solo Energy Limited (UK) 100%
- Solo Energy Limited (Ireland) 100%
- Care Assets Limited 100%
- Care Power (Barnsley) Limited 100%
- Care Power (Burwell 1) Limited 100%
- Care Power (Newtonwood) Limited 100%
- Care Power (Brook Farm) Limited 100%
- Care Power (Berkeley) Limited 100%
- Care Power (Brentwood) Limited 100%
- Care Power (Wolverhampton) Limited 100%
- Care Power (North Tawton) Limited 100%
- Care Power (Upton) Limited 100%
- Care Power (Bramford) Limited 100%
- Care Power (Drumcross) Limited 100%
- Care Power (Erskine) Limited 100%
- Care Power (Burwell 2) Limited 100%
- N3rgy Data Limited 100%
- Metis Energy Limited 100%
- Smart Battery Systems Limited 100%
- Metering Limited 100%
- Metering 1 Limited 100%
- Metering 2 Limited 100%
- Care Energy Limited 100%
- Care Power Limited 100%
- Care Power (Muckraw) Limited 100%
- Care Power (Kinkhall) Limited 100%
- Care Power (Kellingley) Limited 100%
- Care Power (Overseal) Limited 100%
- Care Power (Overton) Limited 100%
- Care Power (Burwell Holdco) Limited 100%
Significant events
- “On 22nd March 2024, Sienna Bidco Limited ('Bidco'), a newly formed company wholly owned by the funds advised by Kohlberg Kravis Roberts & Co. Inc. and its affiliates ('KKR'), formally acquired SMS by way of a takeover offer (as defined in section 974 of the Companies Act 2006) for 955 pence in cash for each SMS share (the 'Acquisition'). As a result, SMS de-listed from the London Stock Exchange through cancellation of the SMS shares traded on AIM. It re-registered as a private limited company on 11 June 2024.”
- “On 19th May 2025, the Board of directors of SMS announced that they had received and accepted an offer from an external party to acquire the Group's grid-scale battery storage business. The impacts of the sale are not reflected in these financial statements on the basis that the Group's grid-scale battery business was not held for sale as at 31 December 2024, nor had any offer been received at this date. The sale is therefore defined as a non-adjusting post balance sheet event and the accounting impacts will be reflected in the financial statements for the year-ended 31 December 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 31 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JORDAN, Neil | Secretary | 2024-12-17 | — | — |
| SMYTH, Ian Thomas | Director | 2026-01-28 | Nov 1970 | British |
| WEST, Sean Allan | Director | 2025-08-31 | Apr 1977 | British |
Show 31 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FOY, Alan Henry | Secretary | 2009-12-24 | 2011-05-17 |
| MCGINN, Craig Alan | Secretary | 2016-11-25 | 2024-12-17 |
| MURRAY, Glen | Secretary | 2011-05-17 | 2016-11-25 |
| ALLISON, Thomas Eardley | Director | 2010-04-08 | 2011-03-31 |
| BISSETT, Graeme | Director | 2016-06-01 | 2024-04-25 |
| BLAIN, Gail Elizabeth | Director | 2022-12-01 | 2025-08-31 |
| CHRISTIE, Nigel Bryan | Director | 2011-05-01 | 2014-04-14 |
| DOLLMAN, Paul Bernard | Director | 2013-11-06 | 2016-05-26 |
| FOY, Alan Henry | Director | 2009-12-24 | 2022-02-28 |
| FURZE, Andrew Michael | Director | 2024-03-22 | 2026-01-15 |
| GREENWOOD, Miriam Valerie | Director | 2014-02-01 | 2024-04-25 |
| GREGORY, Paul Duncan | Director | 2010-06-05 | 2011-03-31 |
| HARRIS, David William | Director | 2017-03-21 | 2017-07-31 |
| LEAK, Ruth Margaret | Director | 2019-05-29 | 2024-03-22 |
| LUO, Yimei | Director | 2024-03-22 | 2026-01-15 |
| LYON, Kevin John | Director | 2011-05-01 | 2013-11-06 |
| MACDIARMID, Donald William | Director | 2014-04-14 | 2020-06-23 |
| MACKE, Nicolas Gilles | Director | 2025-03-17 | 2026-01-16 |
| MACLEOD, Angus George | Director | 2009-10-27 | 2009-12-24 |
| MEHRA, Aadhaar | Director | 2024-05-23 | 2026-01-15 |
| MORTLOCK, Timothy James | Director | 2019-09-17 | 2026-01-29 |
| MURRAY, Glen | Director | 2011-01-01 | 2017-03-21 |
| OLSEN, Kelly Julia | Director | 2018-01-24 | 2018-10-17 |
| RICHARDS, James Craig | Director | 2020-04-23 | 2024-03-22 |
| THOMPSON, David | Director | 2017-09-11 | 2021-03-31 |
| TIMONEY, Stephen Paul | Director | 2009-12-24 | 2013-05-28 |
| URWIN, Gavin | Director | 2021-03-31 | 2022-12-01 |
| VASIU, Ana Maria | Director | 2025-03-11 | 2026-01-16 |
| WILSON, Brian David Henderson | Director | 2010-06-24 | 2011-03-31 |
| WINKEL, Mike | Director | 2023-06-06 | 2024-03-22 |
| WJM DIRECTORS LIMITED | Corporate Director | 2009-10-27 | 2009-12-24 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Sienna Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-03-25 | Active |
Filing timeline
Last 20 of 264 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-27 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-18 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-16 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-16 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-16 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-16 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-16 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-29 | AA | accounts | Accounts with accounts type group | |
| 2025-09-03 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-21 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-09 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-12-17 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-11-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-11-05 | SH01 | capital | Capital allotment shares | |
| 2024-10-30 | AA | accounts | Accounts with accounts type group | |
| 2024-09-19 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-09-19 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 13
- Capital events
- 1
- Officers appointed
- 2
- Officers resigned
- 7
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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+15.4%
£172,756,000 £199,434,000
-
Cash
+47.6%
£26,538,000 £39,172,000
-
Net assets
-7.1%
£507,750,000 £471,587,000
-
Employees
-20.5%
1,402 1,114
-
Operating profit
-56%
£29,466,000 £12,951,000
-
Profit before tax
-143.3%
£17,117,000 -£7,411,000
-
Wages
+1.8%
£66,306,000 £67,493,000
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