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Company profile page for Sellafield Ltd including stock price, company news, executives, board members, and contact information.
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Sellafield Ltd is a British nuclear decommissioning Site Licence Company (SLC) controlled by the Nuclear Decommissioning Authority (NDA), a UK government body set up specifically to deal with the nuclear legacy under the Energy Act 2004.
- 1. Company Information
- 2. Strategic report
- 3. Directors’ report
- 4. Directors’ responsibilities statement
- 5. Independent auditor’s report to the members of Sellafield Limited
- 6. Financial Statements
- 7. Appendix
- 8. Glossary and abbreviations
- 9. Useful links and documentation
Directors
Mr A J M Meggs (Chair)
Mr M J Chown (Chief Executive Officer) (Resigned 18th July 2023)
Mr E Hutton (Chief Executive Officer) (Appointed 19th July 2023)
Mr J M Seddon (Finance Director) (Resigned 21st September 2022)
Dr A F J Choho (Independent Non-Executive Director) (Resigned 1st October 2022)
2.1 Principal activities and future developments
These financial statements contain certain forward-looking statements with respect to the financial condition and business of Sellafield Limited (the company). Statements or forecasts relating to events in the future necessarily involve risk and uncertainty and are made by the company in good faith based on the information available at the date of signing this report. The company undertakes no obligation to update these forward-looking statements. Nothing in these financial statements should be construed as a profit forecast nor should past performances be relied upon as a guide to future performance. The principal role of the company is to operate the Sellafield nuclear site on behalf of the Nuclear Decommissioning Authority (NDA) under a nuclear site licence issued by the Office for Nuclear Regulation (ONR) in a safe, secure, efficient and cost- effective manner and in accordance with its baseline plan, corporate plan, and operating plan. It was more than 75 years ago that the company helped to create the nation’s nuclear deterrent. Today, it is using its unrivalled knowledge of nuclear to create a clean and safe environment for future generations. The company is responsible for the safe, secure, and sustainable stewardship of the Sellafield site and the nuclear materials, fuel and wastes stored there, for making progress in the clean-up of redundant facilities that pose a threat to the environment, and for delivering lifetime value for money through the investment made in the nuclear site. The company is a wholly owned subsidiary of the NDA. In accordance with the Energy Act 2004, NDA has tasked the company with carrying out activities set out in the NDA Designation of Sellafield. The company’s primary site is the Sellafield nuclear site in West Cumbria. The company also has an engineering, design and functional support capability at its Risley office, near Warrington, and several offices in the West Cumbrian community.
2.2 Review of the business
During the year the company incurred operating costs of £2,522 million (2021/22: £2,352 million). This expenditure is recoverable from the NDA and represents the operational costs of the Sellafield site including expenditure on: carrying out the environmental clean-up of the UK’s most complex and hazardous nuclear site, Sellafield decommissioning nuclear facilities receiving, reprocessing and storing used nuclear fuel managing the UK’s special nuclear materials delivering capital projects to support the mission asset care and maintenance – some of the facilities at Sellafield are more than 70 years old so significant investment is required to ensure that they remain operational and in a safe state prior to decommissioning the safe treatment of low level, intermediate level and high-level waste During 2022/23 the company made progress in meeting its targets and milestones set by the NDA, including high hazard reduction, nuclear operations, and safe, secure, sustainable site stewardship. Progress this year includes: successfully progressed work on major projects alongside supply chain partners made important progress in creating a clean and safe environment for future generations performed with passion, pride and pace and embraced the other themes in our manifesto Progress at pace brought operations in the Magnox reprocessing plant to a safe conclusion. started to retrieve nuclear waste from one of our legacy stores, the Magnox Swarf Storage Silo successfully brought the Silo Maintenance Facility (a building that will maintain equipment vital to the retrieval of waste from our most hazardous facilities) into active operations introduced human divers into one of our legacy storage ponds, the Pile Fuel Storage Pond, for the first time to help us in our mission to empty the pond used Evaporator Delta to reduce the volume of liquor held in our highly active storage tanks for the first time continued to invest in robotics, including remotely operated vehicles and unmanned aerial vehicles, to help us clean up legacy facilities while also limiting radiological exposure for our employees The company did not meet all its production targets in waste management and retrievals from Sellafield’s legacy storage ponds. These targets were impacted by the reliability of some of the site’s ageing facilities and by resource challenges. Improving performance across operational nuclear facilities is a priority for the 2023/24 financial year and the Board will support the Sellafield Ltd Executive team to achieve this aim. For further details on the progress made at Sellafield in 2022/23, please see our Review of the Year publication. Safe, secure, sustainable, site stewardship continued investment in electronic and hybrid vehicles, including hybrid locomotives for use on the Sellafield site, and e-bikes for use by employees on the Sellafield site developed our approach to assessing climate related risks (further details of which can be found in our Review of the Year publication) made progress on the construction of the Sellafield Packaging and Retreatment Plant that will support work to keep the country’s stockpile of special nuclear materials safe and secure continued to develop a cohesive approach to sustainability that brings together environment and social impact considerations introduced a new operating approach in the Fellside Combined Heat and Power Plant that resulted in a 41% reduction in energy use on the Sellafield site and associated carbon emissions reduction For further detail, see the section on our safety performance. Lifetime value for money £7.5 million investment through the company’s Social Impact, Multiplied (SiX) programme, and the delivery of the Sellafield Ltd Social Impact strategy. Key investments include: Transforming West Cumbria programme – the programme looks to build the resilience, capabilities and financial sustainability of Third Sector organisations in West Cumberland Mental Health Partnership – the creation and funding of a sustainable partnership model to services offering community support for people in West Cumberland experiencing mental health issues Supply Chain Social Impact alignment – in addition to direct funding, the company launched a social impact roundtable to ensure greater alignment between the work delivered by its social impact team and its suppliers who are delivering social value plans as part of their contractual obligations worked with supply chain partners in the Project and Programme Partners to deliver a reading programme designed to improve literacy attainment levels in West Cumbria and Warrington worked with community partners to refurbish derelict lighthouses in Whitehaven harbour recruited 300 apprentices across 20 career pathways continued to grow employee networks and invested in training aligned to a range of initiatives including promotion of mental health champions
2.3 Safety performance
The diverse range of our activities present every safety challenge imaginable, including thousands of people working at height, working to empty hazardous buildings that were never designed to be emptied, and working in the presence of radiation which is why the company continuously and consistently works with safety as its overriding priority, and why it considers and measures its performance in all facets of safety: nuclear, radiological, environmental, and conventional. Nuclear safety Within its focus on safety, when making operational decisions, nuclear safety is the company’s priority above all others. The company has real time measures in place to monitor its nuclear safety and, on an annual basis, it tracks and reports the number of Nuclear Sellafield Incident Reports (SIRs). These are nuclear events categorised as significant under our sentencing scheme. The company had no Nuclear SIRs in 2022/23, an improvement on the previous financial year. Radiological safety One measure of the company’s radiological safety performance is the number of Radiological Sellafield Incident Reports (SIRs), radiological events categorised as significant under the company’s sentencing scheme. There were three recorded during 2022/23. This represents a diminished performance compared to the previous financial year and will be an area of focus for the company in 2023/24. Environmental safety One measure of the company’s environmental safety performance is the rate of Environmental Site Incident Report (SIR) events categorised as significant under our sentencing scheme, including events where there is actual or potential for noncompliance with our environmental permits. The company saw a levelling off in the rate of Environmental SIRs in 2022/23 compared to the previous financial year. The company will continue to make improvements in the 2023/24 financial year, including recruitment into its environmental safety teams. For further details on the ways in which the company monitors its impact on the environment, please see our Annual Review of Environmental Performance 2022/23 publication. Conventional safety Overall, the metrics that measure the company’s conventional safety performance have improved this year. While the company notes that efforts in this area over recent years has resulted in fewer conventional safety incidents, there is more work to do. In 2022/23, the company appeared in court and pleaded guilty to a prosecution brought by the Office for Nuclear Regulation under Section 2 (1) of the Health and Safety at Work Act in relation to an incident from the previous financial year (2021/22). In October 2021, an employee was injured falling from a scaffold ladder while carrying out repair work on an internal pipeline in the Magnox reprocessing facility. The company was fined £400,000.00 and ordered to pay £29,210.64 in costs as well as a surcharge of £190. The company deeply regrets this incident and acknowledge that on this occasion it fell short in its legal duty to protect the safety of our employee. For further detail, see the section on our safety performance.
3.1 Directors
The directors who held office during the year and to the date of this report were as follows: Mr A J M Meggs (Chair) Mr M J Chown (Chief Executive Officer) (Resigned 18th July 2023) Mr E Hutton (Chief Executive Officer) (Appointed 19th July 2023) Mr J M Seddon (Finance Director) (Resigned 21st September 2022) Mr W Underwood (Chief Financial Officer) (Appointed 21st September 2022) Mr A D Cumming (Shareholder Appointed Director) (Resigned 9th January 2023) Mr J Baxter (Independent Non-Executive Director and Senior Independent Director) Dr A F J Choho (Independent Non-Executive Director) (Resigned 1st October 2022) Mr D G Vineall (Shareholder Appointed Director) Mrs C L Hall (Independent Non-Executive Director) (Resigned 9th October 2022) Mr J P Simcock (Independent Non-Executive Director) Mrs R McLean (Independent Non-Executive Director) Sir S Lister (Independent Non-Executive Director) (Appointed 1st December 2022) Mr P Vallance (Shareholder Appointed Director) (Appointed 1st March 2023) Ms Jan Hodges (Independent Non-Executive Director) (Appointed 1 September 2023)
3.2 Secretary
Miss K Smith (appointed 05 May 2022) None of the directors who held office at the end of the financial year had any disclosable interest in the shares of Sellafield Limited (2021/22: same). According to the register of directors’ interests, no rights to subscribe for shares in or debentures of Sellafield Ltd were granted to any of the directors or their immediate families, or exercised by them, during the financial year (2021/22: same).
3.3 Directors’ and officers’ liability insurance
Directors’ and officers’ liability insurance is provided, covering inter alia the defence costs of civil legal proceedings and the damages resulting from the unsuccessful defence of such proceedings except, in each case, to the extent that a Director or Officer acted fraudulently or dishonestly (2021/22: same).
The directors are responsible for preparing the Strategic report, Directors’ report and our financial statements in accordance with applicable United Kingdom law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they present fairly the financial position and financial performance of our company for that period.
In preparing these financial statements the directors are required to:
•select suitable accounting policies and then apply them consistently
•make judgements and estimates that are reasonable and prudent
•state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
5.1 Opinion
We have audited the financial statements of Sellafield Limited (the ‘company’) for the year ended 31 March 2023 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 101 “Reduced Disclosure Framework” (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the company’s affairs as at 31 March 2023 and of its result for the year then ended have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice have been prepared in accordance with the requirements of the Companies Act 2006
5.2 Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the “Auditor’s responsibilities for the audit of the financial statements” section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
5.3 Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our audit procedures to evaluate the directors’ assessment of the company’s ability to continue to adopt the going concern basis of accounting included but were not limited to: undertaking an initial assessment at the planning stage of the audit to identify events or conditions that may cast significant doubt on the company’s ability to continue as a going concern reviewing the directors’ going concern assessment evaluating the key assumptions used and judgements applied by the directors in forming their conclusions on going concern reviewing the appropriateness of the directors’ disclosures in the financial statements Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
6.1 Income statement
For the 12 months ended 31 March 2023 All of the company’s operations in both 2023 and 2022 are continuing. The Notes section in this report form part of these financial statements.
6.2 Statement of comprehensive income
For the 12 months ended 31 March 2023 The Notes section in this report form part of these financial statements.
6.3 Statement of financial position
At 31 March 2023 These financial statements were approved by the Board of Directors on 01 December 2023 and were signed on its behalf on 05 December 2023 by: Mr Euan Hutton Chief Executive Officer Registered Company Number: 01002607 The notes section in this report form part of these financial statements.
Methodologies used in the calculation of GHG emissions and energy usage data Scope 1 Total energy consumption (KWh) and emissions (tCO2e) for Scope 1 relating to electricity, gas and heat. Including balance of combustible gas for SECR:
The CO2e (primarily CO2, N2O and CH4) emissions attributed to the burning of natural gas are split between heat and electricity generated at Fellside CHPP using CHPQA Methodology for the overall installation, and fuel use apportioned between the Fellside boilers and gas turbines. Further, for the gas turbines, CO2e has been assigned between heat and electricity using the equation in the SECR Guidance, Appendix D.
For off-site properties, where Sellafield Ltd pays directly for gas use – use is metered (fiscal) by supplier and recorded on utility bills. Where Sellafield Ltd does not pay for the gas directly, the quantity has been calculated from meter readings supplied by the building management company or estimated based on service charges or floor area adjusted for building occupancy multiplied by DESNZ Conversion Factors. tCO2e is calculated using the relevant emission factor given in the UK Government GHG Conversion Factors for company Reporting – Fuels (2022).
Total consumption (l and KWh) and emissions (tCO2e) for transport (fuel) Scope 1:
In addition, gas oil is purchased for works vehicles used in operations, invoiced fuel is summated in litres and multiplied by the relevant emission factor given in the UK Government GHG Conversion Factors for company Reporting – Fuels (2022). It is assumed that all fuel purchased in FY22/23 is utilised in the same period.
Sellafield Ltd operates trains internal to the Sellafield site. The litres of fuel used are multiplied by the relevant emission factor given in the UK Government GHG Conversion Factors for company Reporting – Fuels (2022).
A&RAC - Audit and Risk Assurance Committee
CEO - Chief Executive Officer
DESNZ - Department for Energy Security and Net Zero
EA - Environment Agency
EHSS - Environment, Health, Safety and Security Committee
IRP - Investment Review Panel
Jul 15, 2022 · At 31 March 2022, the company’s statement of financial position includes £595 million (2021: £770 million) in respect of the deficit on the Sellafield section of the Combined Nuclear Pension ...
- DirectorsMrs L I Baldry (Chair) (resigned 2 May 2021)Mr A J M Meggs (Chair) (appointed 2 May 2021)Mr M J Chown (Chief Executive Officer)Mr J M Sedd...
- The directors present their Directors’ report for the year ended 31 March 2022.DirectorsThe directors who held office during the year and to the da...
- The directors are responsible for preparing the strategic report, directors’ report and the company financial statements in accordance with applica...
- OpinionWe have audited the financial statements of Sellafield Ltd (the ‘company’) for the year ended 31 March 2022 which comprise the income statem...
- Note 2022 £M 2021 £M Revenue 4 2,357 2,076 Operating costs 5 (2,352) ( 2,070) Operating profit from continuing operations before depreciation and r...
- For the 12 months ended 31 March 2022 Profit for the year 2022 £M 2023 £M Other comprehensive income items that will not be reclassified to profit...
- Assets Note 31 March 2022 £M 31 March 2021 £M Non-current assets Right-of-use assets 15 37 33 NDA receivable in respect of lease liabilities 15 1 1...
- For the year ended 31 March 2022 Share capital £M Retained earnings £M Total equity £M Shareholders’ funds at 1 April 2020 - - - Total comprehensiv...
- Corporate informationThe financial statements of the company for the year ended 31 March 2022 were authorised for issue in accordance with a resolu...
SELLAFIELD LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity.
Oct 2, 2020 · In the year the company invested £79 million on research and development (R&D) (2019: £77 million), with the majority of the R&D directly supporting the clean-up of the legacy facilities ...
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