TRANSPORT TRADING LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-06-20 (in 1mo)
Last made up 2025-06-06
Watchouts
None on the register
Cash
£137M
-11.9% vs 2024
Net assets
£13B
-3.1% vs 2024
Employees
18,582
+1.3% vs 2024
Profit before tax
-£506M
+49.7% vs 2024
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £5,533,200,000 | £5,795,600,000 | |
| Operating profit | -£1,347,300,000 | -£1,383,200,000 | |
| Profit before tax | -£1,005,300,000 | -£505,600,000 | |
| Net profit | -£1,054,800,000 | -£473,200,000 | |
| Cash | £155,000,000 | £136,500,000 | |
| Total assets less current liabilities | £43,374,200,000 | £43,390,200,000 | |
| Net assets | £13,489,400,000 | £13,072,000,000 | |
| Equity | £13,489,400,000 | £13,072,000,000 | |
| Average employees | 18,348 | 18,582 | |
| Wages | £1,200,000,000 | £1,237,500,000 | |
| Directors' remuneration | £1,719,468 | £2,093,309 |
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
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+4.7%
£5,533,200,000 £5,795,600,000
-
Cash
-11.9%
£155,000,000 £136,500,000
-
Net assets
-3.1%
£13,489,400,000 £13,072,000,000
-
Employees
+1.3%
18,348 18,582
-
Operating profit
-2.7%
-£1,347,300,000 -£1,383,200,000
-
Profit before tax
+49.7%
-£1,005,300,000 -£505,600,000
-
Wages
+3.1%
£1,200,000,000 £1,237,500,000
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | -24.3% | -23.9% | |
| Net margin | -19.1% | -8.2% | |
| Return on capital employed | -3.1% | -3.2% | |
| Gearing (liabilities / total assets) | 69.9% | 71.0% | |
| Current ratio | 0.37x | 0.43x | |
| Interest cover | -2.45x | -2.32x |
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
“The audit procedures performed did not identify any material uncertainties about the Group’s or company’s ability to continue as a going concern.”
Group structure
- TRANSPORT TRADING LIMITED · parent
- Connected Living London (BTR) Limited 100%
- Crossrail 2 Limited 100%
- Crossrail Limited 100%
- Docklands Light Railway Limited 100%
- London Buses Limited 100%
- London Dial-a-Ride Limited 100%
- London River Services Limited 100%
- London Transport Museum Limited 100%
- London Transport Museum (Trading) Limited 100%
- London Underground Limited 100%
- LUL Nominee SSL Limited 100%
- LUL Nominee SSL 2 Limited 100%
- Places for London Limited 100%
- Rail for London Limited 100%
- Rail for London (Infrastructure) Limited 100%
- Tramtrack Croydon Limited 100%
- Transport for London Finance Limited 100%
- TTL Blackhorse Road Properties Limited 100%
- TTL Build to Rent Limited 100%
- TTL Earls Court Properties Limited 100%
- TTL Electric Vehicle Charging Limited 100%
- TTL Office Properties Limited 100%
- TTL Kidbrooke Properties Limited 100%
- TTL Landmark Court Properties Limited 100%
- TTL High Barnet Properties Limited 100%
- TTL South Kensington Properties Limited 100%
- TTL Southwark Properties Limited 100%
- TTL Wembley Park Properties Limited 100%
- TTL West London Properties Limited 100%
- Tube Lines Limited 100%
- Tube Lines Pension Scheme Trustees Limited 100%
- Victoria Coach Station Limited 100%
- Woolwich Arsenal Rail Enterprises Limited 100%
Significant events
- “In 2024/25, TfL launched 'Action on Inclusion' to support a more inclusive workforce. In 2024, TfL launched 'Equity in Motion'.”
- “The 2024/25 financial year was marked by continued passenger growth across the network and a focus on asset replacement and improvement following the confirmation of on-going capital funding from Government.”
- “Transitioned 500 additional buses to zero emissions (total 1,900).”
- “Launched a Solar Private Wire tender to directly connect solar energy to our network.”
- “Allocated capital to support a fully zero-emission bus fleet by 2030, with 3,000 buses planned by March 2026.”
- “During the year, the Group on three additional interest rate swaps were entered into in March 2025.”
- “The Group held forward foreign exchange derivative contracts in Euros, Canadian Dollars and Swedish Krona. At 31 March 2025, these contracts had a combined net fair value of £11.7m (2023/24 £1.6m) and a net fair value of £1.7m (2023/24 £4m) in loan notes.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 42 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CLARKE, Andrea | Secretary | 2023-09-29 | — | — |
| CURRY, Justine Anne | Secretary | 2023-09-29 | — | — |
| BRUNSKILL, Fiona Jane | Director | 2026-03-06 | Feb 1975 | British |
| CLARKE, Andrea | Director | 2023-09-22 | Dec 1972 | British |
| DOIG, Patrick | Director | 2026-03-06 | Feb 1982 | British |
| LORD, Andrew Peter Stanton | Director | 2020-06-29 | Sep 1970 | British |
| MANN, Claire | Director | 2024-05-17 | Jul 1973 | British |
| MATSON, Lilli Sabrina | Director | 2022-12-15 | Apr 1965 | British |
| WILLIAMS, Alex | Director | 2022-12-20 | Oct 1966 | British |
Show 42 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CARTER, Howard Ernest | Secretary | 2006-09-04 | 2023-09-29 |
| CHANCE, Joanne Marie | Secretary | 2004-06-14 | 2007-09-30 |
| DAVIES, Gareth John | Secretary | 2002-10-14 | 2003-09-03 |
| GREGORY, Jacqueline Anne | Secretary | 2003-09-03 | 2004-06-04 |
| HOWARD, Ellen | Secretary | 2008-02-06 | 2011-07-15 |
| LOW, Frances | Secretary | 2000-01-24 | 2000-06-28 |
| MCGUIRK, Peter William | Secretary | 2005-12-24 | 2006-09-29 |
| NOLAN, Maureen Patricia | Secretary | 2000-07-03 | 2002-10-14 |
| PIPE, Jeffrey Henderson | Secretary | 2006-09-04 | 2010-07-09 |
| SHERRY, Louise Dianne | Secretary | 2004-06-14 | 2005-04-01 |
| SMITH, Fiona Brown | Secretary | 2005-04-01 | 2005-12-23 |
| SWIGGS, Michael Leonard | Secretary | 2000-06-28 | 2000-07-30 |
| ALLEN, Stephen David | Director | 2007-05-30 | 2015-09-30 |
| BARTON, Glynn Edward | Director | 2022-12-19 | 2024-05-17 |
| BROWN, David Allen | Director | 2007-03-05 | 2011-03-31 |
| BROWN, Ian Arthur | Director | 2001-07-17 | 2010-11-05 |
| BROWN, Michael William Tuke | Director | 2010-03-24 | 2020-07-10 |
| BYFORD, Andrew Robert | Director | 2020-06-29 | 2022-10-28 |
| CARTER, Howard Ernest | Director | 2007-03-05 | 2023-09-22 |
| DANIELS, Leon Alistair | Director | 2011-04-20 | 2017-12-20 |
| DOIG, Patrick | Director | 2022-05-18 | 2022-12-15 |
| DOUGLAS, Colin Antony | Director | 2001-07-17 | 2001-12-31 |
| HALLE, Richard William | Director | 2000-07-27 | 2001-01-23 |
| HENDY, Peter Gerard, Sir | Director | 2001-01-23 | 2015-07-16 |
| HODSON, Clive | Director | 2000-01-24 | 2000-07-21 |
| HUGHES, John James | Director | 2000-01-24 | 2000-07-03 |
| KILEY, Robert Raymond | Director | 2001-01-23 | 2006-01-31 |
| KILONBACK, Simon David | Director | 2018-11-02 | 2022-04-29 |
| MAMODE, Joyce | Director | 2000-07-03 | 2001-06-08 |
| MAYER, Ralph Anthony Jeffrey | Director | 2000-07-03 | 2000-10-13 |
| MCLEAN, Rachel | Director | 2022-12-19 | 2026-02-13 |
| NUNN, Ian Alan | Director | 2015-09-21 | 2017-07-24 |
| O'TOOLE, Timothy Terrence | Director | 2003-07-15 | 2009-04-30 |
| POWELL, Gareth William | Director | 2017-12-20 | 2022-09-15 |
| SMITH, Derek Vincent | Director | 2000-01-24 | 2000-07-03 |
| SMITH, Richard Stephen | Director | 2000-01-24 | 2001-10-05 |
| SWIGGS, Michael Leonard | Director | 2000-03-09 | 2002-05-22 |
| TUNNICLIFFE, Denis | Director | 2000-01-24 | 2000-07-03 |
| TURNER, Derek | Director | 2001-06-08 | 2003-07-08 |
| WALDER, Jay Herbert | Director | 2001-06-08 | 2007-02-28 |
| WETZEL, David Christopher | Director | 2000-07-03 | 2001-06-08 |
| WILD, Mark | Director | 2016-09-01 | 2018-11-02 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Transport For London | Legal person | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 209 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-04-26 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-21 | AA | accounts | Accounts with accounts type group | |
| 2026-03-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-16 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-28 | AA | accounts | Accounts with accounts type group | |
| 2024-08-14 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2024-08-01 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2024-06-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-23 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-23 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-22 | AA | accounts | Accounts with accounts type group | |
| 2023-10-06 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-10-06 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-10-06 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-10-06 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-06 | TM01 | officers | Termination director company with name termination date | |
| 2023-06-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-19 | CH01 | officers | Change person director company with change date | |
| 2023-04-26 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 2
- 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.