LHR AIRPORTS LIMITED
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Cash
£15m
+66.7% vs 2024
Net assets
£1.9bn
-28.7% lowest in 3 filed years
Employees
23
0% vs 2024
Profit before tax
£718m
+174% vs 2024
Profit before tax
3-year trend · vs Consumer Discretionary median
LHR AIRPORTS LIMITED·Consumer Discretionary median
LHR AIRPORTS LIMITED·Consumer Discretionary median
LHR AIRPORTS LIMITED·Consumer Discretionary median
LHR AIRPORTS LIMITED·Consumer Discretionary median
LHR AIRPORTS LIMITED·Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £13,000,000 | £9,000,000 | £8,000,000 | -11.1% | |
| Operating profit | -£701,000,000 | £4,000,000 | £8,000,000 | +100% | |
| Profit before tax | £748,000,000 | £262,000,000 | £718,000,000 | +174% | |
| Net profit | £629,000,000 | £137,000,000 | £733,000,000 | +435% | |
| Cash | £18,000,000 | £9,000,000 | £15,000,000 | +66.7% | |
| Total assets less current liabilities | — | £2,937,000,000 | £3,142,000,000 | +7% | |
| Net assets | — | — | — | — | |
| Equity | £11,852,000,000 | £2,678,000,000 | £1,910,000,000 | -28.7% | |
| Average employees | 23 | 23 | 23 | 0% | |
| Wages | £9,000,000 | £5,000,000 | £4,000,000 | -20% | |
| Directors' remuneration | — | — | — | — |
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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | — | 44.4% | 100.0% | |
| Return on capital employed | — | 0.1% | 0.3% | |
| Current ratio | 0.03x | 0.18x | 0.66x | |
| Interest cover | -8.25x | 0.36x | 0.36x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 4 times since incorporation
- LHR AIRPORTS LIMITED 2012-10-12 → present
- BAA AIRPORTS LIMITED 2008-10-06 → 2012-10-12
- BAA LIMITED 2006-11-21 → 2008-10-06
- BAA PLC 1986-07-02 → 2006-11-21
- ALNERY NO. 422 LIMITED 1985-12-13 → 1986-07-02
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have prepared the financial information presented within these financial statements on a going concern basis as they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.”
Group structure
- LHR AIRPORTS LIMITED · parent
- Heathrow (DSH) Limited 100%
- Heathrow Enterprises Limited 100%
- LHR Insurance Services Limited 100%
- LHR Airport Services Limited 100%
- LHR Building Control Services Limited 100%
- LHR Business Support Centre Limited 100%
- BAA Pension Trust Company Limited 100%
Significant events
- “During the year, the ownership of the Company was transferred from Heathrow Holdco Limited to Heathrow Airport Holdings Limited as part of the HAHL Group's corporate simplification project.”
- “Several other transactions occurred to manage intercompany balances... The Company capitalised a £282 million loan owing to Heathrow Airport Holdings Limited... by way of an issue of 2 new ordinary shares...”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 90 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAKER, Ross Findlay Scott | Director | 2017-01-01 | Jun 1974 | British |
| BUTLER, Joanne Catherine | Director | 2025-01-20 | Jan 1974 | British |
| DING, Yuanyuan | Director | 2024-10-17 | Aug 1979 | British |
| ELSBY, Helen Mary | Director | 2021-09-01 | Nov 1975 | British |
| ESPOT, Javier Echave | Director | 2016-11-24 | May 1980 | British |
| MILTON, Nigel Anthony | Director | 2021-09-01 | Sep 1970 | British |
| WOLDBYE, Thomas | Director | 2023-10-18 | Sep 1964 | Danish |
Show 90 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GRICE, John | Secretary | — | 1993-08-31 |
| HERGA, Robert David | Secretary | 2007-05-01 | 2009-04-22 |
| HUI, Carol | Secretary | 2009-04-22 | 2010-08-31 |
| ROWSON, Rachel | Secretary | 1993-09-01 | 2007-05-01 |
| WILLIAMS HAMER, Gabrielle Mary | Secretary | 1997-02-17 | 1997-08-28 |
| AGIUS, Marcus Ambrose Paul | Director | 1995-08-01 | 2006-12-20 |
| ANG, Eng Seng | Director | 2006-06-26 | 2009-07-31 |
| ANNETTS, Christopher John | Director | 2021-09-01 | 2024-04-30 |
| ASHTON, Hubert Gaitskell | Director | — | 1993-07-19 |
| AYUSO GARCIA, Joaquin | Director | 2006-06-26 | 2007-09-13 |
| BALDWIN, Stuart Harvey | Director | 2006-11-24 | 2008-09-18 |
| BALL, Anthony Frank Elliott | Director | 2004-06-01 | 2006-06-26 |
| BALLENTINE, Ian Crawford | Director | 2013-12-10 | 2017-01-01 |
| BARRELL, Anthony Charles, Dr | Director | 1994-08-01 | 2001-07-31 |
| BARRETT, Pier De Stavola | Director | 2024-04-30 | 2024-04-30 |
| BEJAR OCHOA, Juan | Director | 2006-06-26 | 2007-05-10 |
| BIRRELL, William Stuart | Director | 2015-07-01 | 2020-03-17 |
| BOIVIN, Normand | Director | 2011-08-29 | 2017-10-03 |
| BOYD, James Edward | Director | — | 1994-02-24 |
| BROWN, Michael William Tuke | Director | 2009-07-31 | 2010-03-09 |
| CASSIDY, Denis Patrick | Director | — | 1993-08-13 |
| CLARE, Mark Sydney | Director | 2001-11-01 | 2006-06-26 |
| CLARK, Neil Derek | Director | 2012-10-08 | 2015-03-31 |
| CLASPER, Michael | Director | 2001-08-01 | 2006-07-13 |
| COLLIE, Brian Joseph | Director | 1997-11-27 | 2005-03-31 |
| COTE, Robert | Director | 2006-06-26 | 2006-10-31 |
| CULLEN, Nicholas John | Director | 2010-03-09 | 2011-06-30 |
| DEL PINO CALVO SOTELO, Rafael | Director | 2006-12-20 | 2007-09-13 |
| DOUGLAS, Anthony John | Director | 2006-07-13 | 2007-07-19 |
| DRINKWATER, John Muir, Sir | Director | — | 1994-07-14 |
| DROUIN, Richard Ross, Mr. | Director | 2007-09-13 | 2008-09-18 |
| EDINGTON, George Gordon | Director | 1991-11-13 | 1999-04-30 |
| EGAN, John Leopold, Sir | Director | — | 1999-11-07 |
| ELLIS, Nigel George | Director | — | 1995-08-13 |
| EVERITT, Richard Leslie | Director | — | 2001-05-31 |
| EWING, Margaret | Director | 2002-07-01 | 2006-10-04 |
| FAUCHER, Renaud | Director | 2006-10-31 | 2008-09-18 |
| FAY, Christopher Ernest, Dr | Director | 1998-08-01 | 2006-06-26 |
| GARTON, Christopher Charles | Director | 2018-04-16 | 2021-08-31 |
| GAUTHIER, Ghislain | Director | 2006-06-26 | 2009-07-31 |
| GIBSON, John Michael Barry | Director | 1992-09-02 | 1997-07-18 |
| GILTHORPE, Charlotte Emma | Director | 2012-10-08 | 2024-04-26 |
| GOODING, Valerie Frances | Director | 1998-11-01 | 2004-07-31 |
| GREEN, Colin Henry | Director | 2001-08-01 | 2004-07-31 |
| HARBORD, Clare Mary Petre | Director | 2012-10-08 | 2017-01-01 |
| HIFZI, Mine Ozkan | Director | 2022-07-01 | 2026-03-25 |
| HODGKINSON, Michael Stewart, Sir | Director | 1992-01-13 | 2003-06-08 |
| HOERNER, John | Director | 1998-01-29 | 2004-01-28 |
| HOLLAND KAYE, John William | Director | 2009-07-31 | 2023-10-18 |
| HUI, Carol | Director | 2012-10-08 | 2021-08-31 |
| JOHNSTON, David Ian | Director | 2009-07-31 | 2009-09-21 |
| KONG, Janis Carol | Director | 2002-09-01 | 2006-03-01 |
| LEO, Jose | Director | 2009-07-31 | 2015-03-25 |
| LEO, Jose | Director | 2006-11-24 | 2008-09-18 |
| LOPEZ SORIA, Fidel | Director | 2012-10-08 | 2014-09-01 |
| MACMILLAN, Andrew Hugh | Director | 2017-01-01 | 2021-08-31 |
| MAINE, Michael Peter | Director | — | 1998-05-31 |
| MATTHEWS, Colin Stephen | Director | 2012-10-08 | 2014-06-30 |
| MATTHEWS, Colin Stephen | Director | 2008-04-01 | 2008-09-18 |
| MATTHEWS, Colin Stephen | Director | 2008-04-01 | 2008-09-18 |
| MAXMIN, Hiram James, Dr | Director | 1994-03-25 | 1997-07-18 |
| MEIRAS, Inigo | Director | 2007-05-10 | 2008-09-18 |
| MIDDLETON, Peter | Director | 1993-02-01 | 1995-03-23 |
| MORGAN, Steven Robert | Director | 2009-09-21 | 2012-10-31 |
| MORGAN, Terence David | Director | 2011-06-10 | 2013-11-01 |
| NELSON, Stephen Keith James | Director | 2006-04-01 | 2008-03-31 |
| O'SULLIVAN, James Christopher | Director | 2014-08-12 | 2014-12-31 |
| O'SULLIVAN, James Christopher | Director | 2012-10-08 | 2014-08-12 |
| OSORIO ITURMENDI, Lucas | Director | 2006-06-26 | 2006-11-24 |
| PEREZ TREMPS, Jose Maria | Director | 2006-06-26 | 2008-09-18 |
| PERKINS, Alice Elizabeth | Director | 2006-03-01 | 2006-06-26 |
| PROVAN, Derek | Director | 2017-10-03 | 2018-04-16 |
| ROBERTS, Michael James | Director | 1997-11-01 | 2001-12-31 |
| RODFORD, Fiona Madeleine | Director | 2012-10-08 | 2013-01-25 |
| RUDD, Anthony Nigel Russell, Sir | Director | 2007-09-13 | 2008-09-18 |
| SANCHEZ SALMERON, Luis Angel | Director | 2006-06-26 | 2009-07-31 |
| SMITH, Norman Brian, Sir | Director | — | 1998-07-09 |
| STANNETT, Paula | Director | 2013-01-28 | 2024-08-31 |
| STEVENS, John, Lord | Director | 2007-09-13 | 2008-09-18 |
| STUART, James Keith, Sir | Director | — | 1992-07-22 |
| TALL, Macky | Director | 2006-06-26 | 2007-09-13 |
| TEMPLE, John Michael | Director | 2006-03-01 | 2006-07-13 |
| TOMS, Michael Rodney | Director | 2002-02-01 | 2006-07-13 |
| URQUHART, Lawrence Mcallister | Director | — | 2002-03-31 |
| UZIELLI, Michael Robin | Director | 2015-06-09 | 2016-05-17 |
| VILLEN JIMENEZ, Nicolas | Director | 2006-06-26 | 2008-09-18 |
| WALKER, Robert Malcolm | Director | 2004-05-01 | 2005-01-31 |
| WALLS, John Russell Fotheringham | Director | 1995-06-12 | 2002-08-31 |
| WARD, Tony | Director | 1999-11-01 | 2006-07-13 |
| WRIGHT, Patrick Richard Henry, Lord Wright Of Richmond | Director | 1992-08-01 | 1998-07-09 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Heathrow Airport Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 1672 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-11-03 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-17 | CH01 | officers | Change person director company with change date | |
| 2026-09-08 | AA | accounts | Accounts with accounts type full | |
| 2026-07-12 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-03-26 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-11 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-11-03 | RESOLUTIONS | resolution | Resolution | |
| 2025-10-30 | SH01 | capital | Capital allotment shares | |
| 2025-07-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-26 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-06-19 | AA | accounts | Accounts with accounts type full | |
| 2025-01-28 | CH01 | officers | Change person director company with change date | |
| 2025-01-28 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-02 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-19 | AA | accounts | Accounts with accounts type full | |
| 2024-07-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-30 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-30 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-30 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 1
- Officers appointed
- 0
- Officers resigned
- 1
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.