SSE THERMAL ENERGY OPERATIONS LIMITED
Operating as SSE Thermal, the business is a subsidiary of the London Stock Exchange-listed SSE plc that manages natural gas and waste-to-energy power stations across the United Kingdom and Ireland.
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Cash
—
Latest balance sheet
Net assets
£45M
-62% vs 2024
Employees
276
+39.4% vs 2024
Profit before tax
£2.2M
-97.8% vs 2024
Net assets
2-year trend · vs Utilities median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £748,700,000 | £544,900,000 | -27.2% | |
| Operating profit | £104,900,000 | £3,800,000 | -96.4% | |
| Profit before tax | £101,000,000 | £2,200,000 | -97.8% | |
| Net profit | £74,700,000 | £900,000 | -98.8% | |
| Cash | — | — | — | |
| Total assets less current liabilities | £163,700,000 | £985,700,000 | +502.1% | |
| Net assets | £118,400,000 | £45,000,000 | -62% | |
| Equity | £118,400,000 | £45,000,000 | -62% | |
| Average employees | 198 | 276 | +39.4% | |
| Wages | £16,800,000 | £16,400,000 | -2.4% | |
| Directors' remuneration | £3,100,000 | £3,500,000 | +12.9% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 14.0% | 0.7% | |
| Net margin | 10.0% | 0.2% | |
| Return on capital employed | 64.1% | 0.4% | |
| Gearing (liabilities / total assets) | 56.0% | 95.8% | |
| Current ratio | 0.76x | 1.52x | |
| Interest cover | 9.71x | 0.26x |
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
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements are prepared on a going concern basis which has been supported by the provision of a parental letter of support from SSE plc. The Group letter of support confirms that the Group will provide support to 31 December 2026 where required. The Directors have therefore concluded it is appropriate for the financial statements to be prepared on a going concern basis.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SWAN, Colin Charles | Secretary | 2023-07-07 | — | — |
| BEATTIE, Martin | Director | 2021-08-20 | Mar 1981 | British |
| CRYANS, Charles | Director | 2022-01-18 | Jun 1963 | British |
| DE AZEVEDO DENT, Kelly | Director | 2025-11-04 | Dec 1971 | British |
| HAYWARD, Mark Richard | Director | 2021-08-20 | Nov 1963 | British |
| MACKAY, Mandy | Director | 2022-05-17 | Jan 1976 | British |
| MCCUTCHEON, Finlay Alexander | Director | 2024-07-06 | Nov 1977 | British |
| RUDD, Adrian Marc James | Director | 2021-08-20 | May 1971 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FAIRBAIRN, Sally | Secretary | 2020-06-25 | 2023-07-07 |
| BRONWIN, Hannah Zoe | Director | 2022-05-17 | 2025-01-31 |
| GRAY, Ann Miriam Georgina | Director | 2020-06-25 | 2025-04-17 |
| JOHNSON, John | Director | 2021-09-02 | 2026-01-06 |
| RAW, Catherine | Director | 2022-07-07 | 2024-04-04 |
| WHEELER, Stephen | Director | 2020-06-25 | 2021-12-16 |
| ZAKIR, Zahida | Director | 2021-08-20 | 2025-11-11 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Sse Thermal Energy Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-06-25 | Active |
Filing timeline
Last 20 of 34 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-17 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-07 | AA | accounts | Accounts with accounts type full | |
| 2025-11-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-13 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-18 | AA | accounts | Accounts with accounts type full | |
| 2024-08-01 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-16 | TM01 | officers | Termination director company with name termination date | |
| 2023-11-01 | AA | accounts | Accounts with accounts type full | |
| 2023-08-01 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-08-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-06-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-05-24 | CH01 | officers | Change person director company with change date | |
| 2022-12-08 | AA | accounts | Accounts with accounts type full | |
| 2022-08-17 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2022-07-13 | AP01 | officers | Appoint person director company with name date | |
| 2022-06-29 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 2
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.