NORTHERN IRELAND WATER LIMITED
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Cash
£93M
-10.5% vs 2024
Net assets
£1.3B
+6.2% vs 2024
Employees
1,522
+0.9% vs 2024
Profit before tax
£122M
+28.2% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
As stated in Note 1c, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Group and the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
-
Going-concern uncertainty disclosed
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 | £549,258,000 | £580,393,000 | +5.7% | |
| Operating profit | £157,672,000 | £188,210,000 | +19.4% | |
| Profit before tax | £95,484,000 | £122,383,000 | +28.2% | |
| Net profit | £71,502,000 | £91,015,000 | +27.3% | |
| Cash | £104,019,000 | £93,083,000 | -10.5% | |
| Total assets less current liabilities | £4,144,063,000 | £4,416,379,000 | +6.6% | |
| Net assets | £1,230,155,000 | £1,306,477,000 | +6.2% | |
| Equity | £1,230,155,000 | £1,306,477,000 | +6.2% | |
| Average employees | 1,508 | 1,522 | +0.9% | |
| Wages | £76,082,000 | £65,866,000 | -13.4% | |
| Directors' remuneration | £1,424,000 | £1,817,500 | +27.6% |
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 | 28.7% | 32.4% | |
| Net margin | 13.0% | 15.7% | |
| Return on capital employed | 3.8% | 4.3% | |
| Gearing (liabilities / total assets) | 71.9% | 72.1% | |
| Current ratio | 13.35x | 10.77x | |
| Interest cover | 2.26x | 2.52x |
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.
Name history
Renamed 1 time since incorporation
- NORTHERN IRELAND WATER LIMITED 2005-04-02 → present
- NEW COMPANY REJECTION. 2005-04-02 → 2005-04-02
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- KPMG
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“As stated in Note 1c, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Group and the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”
Group structure
- NORTHERN IRELAND WATER LIMITED · parent
- NI Water Clear Limited 100%
- NI Water Alpha Limited 100%
- Dalriada Water Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 32 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SHAW, Gillian | Secretary | 2026-04-21 | — | — |
| ASTON, Josephine | Director | 2024-04-01 | Oct 1961 | Northern Irish |
| BULLICK, Maurice James | Director | 2020-02-01 | May 1961 | British |
| LARKIN, Patrick | Director | 2020-02-01 | Oct 1968 | Irish |
| LARKIN, Ronan | Director | 2007-03-20 | Dec 1965 | British |
| MCCULLAGH, Stephanie | Director | 2023-09-26 | Dec 1972 | British |
| MCGIVERN, Marie-Therese | Director | 2020-02-01 | Aug 1954 | Irish |
| MCSORLEY, Daniel | Director | 2024-04-01 | Jan 1954 | Northern Irish |
| OLDFIELD, Belinda | Director | 2020-02-01 | Jun 1963 | British |
| VENNING, Sara | Director | 2010-05-21 | Jul 1972 | Irish |
Show 32 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ELLESMERE, Mark | Secretary | 2006-10-18 | 2025-09-30 |
| MCCORMICK, Nigel Clive | Secretary | 2005-04-02 | 2006-10-18 |
| MCHUGH, Aisling | Secretary | 2025-09-30 | 2026-04-21 |
| BALLARD, John | Director | 2007-03-20 | 2010-03-11 |
| BARKER, Phil | Director | 2007-03-20 | 2008-12-19 |
| BRYAN, Katharine | Director | 2005-04-02 | 2008-05-20 |
| BUNTING, Peter | Director | 2010-06-21 | 2011-08-22 |
| BUTLER, George | Director | 2008-11-25 | 2015-08-05 |
| DONALDSON, Kingsley Deione Matthew | Director | 2015-08-01 | 2020-01-31 |
| GORMLEY, Declan | Director | 2008-07-29 | 2010-03-11 |
| HARPER, Paul | Director | 2017-01-24 | 2023-09-30 |
| HASLETT, Trevor | Director | 2011-01-27 | 2013-08-30 |
| HOGAN, Sean Terence | Director | 2011-03-24 | 2015-03-31 |
| HYNES, Rose | Director | 2007-03-20 | 2007-06-30 |
| MACKENZIE, Laurence Robert | Director | 2009-07-28 | 2011-01-07 |
| MCALEESE, Sean | Director | 2015-01-12 | 2019-03-01 |
| MCAULEY, Patricia | Director | 2015-08-01 | 2020-01-31 |
| MCCALL, James Daniel | Director | 2015-08-01 | 2020-01-31 |
| MCCORMICK, Nigel Clive | Director | 2005-04-02 | 2006-10-18 |
| MCDONALD, Lawson | Director | 2010-06-21 | 2011-08-22 |
| MCNANEY, Peter | Director | 2015-08-01 | 2024-03-31 |
| MELLOR, Chris | Director | 2006-10-18 | 2010-03-11 |
| NEVIN, Des | Director | 2020-09-01 | 2023-10-06 |
| O MUILLEOIR, Mairtin | Director | 2010-06-30 | 2010-12-07 |
| O'HAGAN, Leonard John Patrick, Dr | Director | 2015-04-01 | 2024-03-31 |
| PRICE, Donald | Director | 2008-07-29 | 2014-07-06 |
| RAE, John | Director | 2011-08-22 | 2020-01-31 |
| SAGAR, Deep | Director | 2011-08-22 | 2015-07-31 |
| STEELE, Kevin Joseph | Director | 2010-06-21 | 2015-07-31 |
| STEWART, Jim Robert | Director | 2011-08-22 | 2015-07-31 |
| THOMPSON, Ruth | Director | 2007-03-20 | 2010-03-11 |
| WHITE, Padraic | Director | 2010-08-09 | 2011-04-25 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Department For Infrastructure | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors, Significant influence (as firm) | 2016-04-06 | Active |
Filing timeline
Last 20 of 152 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-22 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-04-22 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-02-02 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-01-08 | AA | accounts | Accounts with accounts type group | |
| 2025-10-13 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-10-13 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-04-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-24 | AA | accounts | Accounts with accounts type group | |
| 2024-05-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-05-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-12 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-12 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-12 | TM01 | officers | Termination director company with name termination date | |
| 2023-11-02 | AA | accounts | Accounts with accounts type group | |
| 2023-10-06 | TM01 | officers | Termination director company with name termination date | |
| 2023-10-06 | AP01 | officers | Appoint person director company with name date | |
| 2023-04-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-03 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- 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.