GOVIA THAMESLINK RAILWAY LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2027-02-15 (in 9mo)
Last made up 2026-02-01
Watchouts
Cash
£107M
+128.5% vs 2024
Net assets
£32M
-19.6% vs 2024
Employees
7,454
+1.6% vs 2024
Profit before tax
£46M
+67.5% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The Company has a three reporting periods' notice break clause within the National Rail Contract (NRC). In addition to this the government under The Passenger Railway Services (Public Ownership) Act 2024 have passed legislation enabling passenger rail operations to be brought under public ownership. The government expects to have all passenger rail operations under public ownership by October 2027. These conditions indicate that there exists material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
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 | £1,812,102,000 | £1,998,512,000 | |
| Operating profit | £36,702,000 | £48,001,000 | |
| Profit before tax | £27,410,000 | £45,925,000 | |
| Net profit | £20,218,000 | £33,719,000 | |
| Cash | £46,695,000 | £106,686,000 | |
| Total assets less current liabilities | £55,013,000 | £31,891,000 | |
| Net assets | £39,676,000 | £31,891,000 | |
| Equity | £39,676,000 | £31,891,000 | |
| Average employees | 7,339 | 7,454 | |
| Wages | £426,452,000 | £450,454,000 | |
| Directors' remuneration | £707,000 | £1,040,000 |
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
+10.3%
£1,812,102,000 £1,998,512,000
-
Cash
+128.5%
£46,695,000 £106,686,000
-
Net assets
-19.6%
£39,676,000 £31,891,000
-
Employees
+1.6%
7,339 7,454
-
Operating profit
+30.8%
£36,702,000 £48,001,000
-
Profit before tax
+67.5%
£27,410,000 £45,925,000
-
Wages
+5.6%
£426,452,000 £450,454,000
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 | 2.0% | 2.4% | |
| Net margin | 1.1% | 1.7% | |
| Return on capital employed | 66.7% | 150.5% | |
| Gearing (liabilities / total assets) | 94.4% | 92.6% | |
| Current ratio | 1.36x | 1.36x | |
| Interest cover | 3.17x | 11.96x |
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
- MHA
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The Company has a three reporting periods' notice break clause within the National Rail Contract (NRC). In addition to this the government under The Passenger Railway Services (Public Ownership) Act 2024 have passed legislation enabling passenger rail operations to be brought under public ownership. The government expects to have all passenger rail operations under public ownership by October 2027. These conditions indicate that there exists material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 28 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SWAN, Richard | Secretary | 2023-05-22 | — | — |
| BOUILLON-WALINE, Emmanuelle | Director | 2024-11-25 | Nov 1973 | British,French |
| DOLL, Angela Jayne | Director | 2022-06-17 | Nov 1965 | British |
| EDWARDS, Louise Mary | Director | 2025-11-07 | Jun 1961 | British |
| FRANCES, Leila Emma Nicole | Director | 2022-05-09 | Sep 1973 | British |
| GERRARD, John Alan | Director | 2024-11-29 | Jul 1977 | British |
| VAN DEN BERG, Aaron | Director | 2025-01-13 | May 1986 | German |
| VERWER, Hendrikus Petrus Maria | Director | 2018-07-09 | Mar 1960 | Dutch |
| WHITEHURST, John Anthony Richard | Director | 2024-09-06 | Mar 1971 | British |
Show 28 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FERGUSON, Carolyn | Secretary | 2012-02-02 | 2023-05-22 |
| ALLAN, Wilma Mary | Director | 2014-06-09 | 2017-12-08 |
| ANGEL PARRAS, Miguel | Director | 2024-09-09 | 2025-01-13 |
| AUGER, Bruno | Director | 2012-02-02 | 2015-06-11 |
| BOYD, Gordon Alexander | Director | 2021-09-28 | 2022-03-28 |
| BRIAN, Elodie Marie Francoise | Director | 2019-06-05 | 2021-09-27 |
| BROWN, David Allen | Director | 2012-02-02 | 2021-11-05 |
| BROWN, Nicholas James Forster | Director | 2016-11-07 | 2018-09-03 |
| BUTCHER, Simon Patrick | Director | 2016-03-14 | 2018-11-30 |
| CROWTHER, Dyan | Director | 2014-07-14 | 2016-12-03 |
| DEAN, Martin Richard | Director | 2020-11-20 | 2022-04-01 |
| DOWN, Keith | Director | 2012-02-02 | 2015-12-06 |
| FLOOD, Sharon Emma | Director | 2024-10-07 | 2025-09-30 |
| GORDON, Alistair John Francis | Director | 2014-05-14 | 2022-04-13 |
| GROSE, Ian Russell | Director | 2023-11-01 | 2024-09-06 |
| HODGSON, Charles Anthony | Director | 2013-07-20 | 2020-11-20 |
| HORTON, Charles Stuart | Director | 2014-06-09 | 2018-07-06 |
| HYNES, Alexander John | Director | 2012-02-02 | 2013-07-19 |
| LAVELLE, Dominic Joseph | Director | 2022-04-01 | 2024-08-31 |
| MCLAREN, Ian | Director | 2017-12-11 | 2022-05-23 |
| MERLE, Virginie | Director | 2022-07-01 | 2024-08-30 |
| MUSSENDEN, Sarah Elizabeth | Director | 2022-05-09 | 2022-12-31 |
| PIDSLEY, Ralph Leo | Director | 2024-01-30 | 2024-08-30 |
| SCHREYER, Christian | Director | 2021-11-05 | 2023-10-31 |
| TABARY, Bernard Denis Maurice | Director | 2015-06-11 | 2022-07-01 |
| VAN TROEYEN, Arnaud Jean-Charles Régis Philippe | Director | 2012-02-02 | 2014-05-14 |
| WHITE, Stephen Edwin | Director | 2018-09-03 | 2021-10-08 |
| WILLCOCK, Jonathan Kevin | Director | 2012-02-02 | 2013-07-26 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Govia Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 123 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-01 | CH01 | officers | Change person director company with change date | |
| 2026-02-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-13 | CH01 | officers | Change person director company with change date | |
| 2025-11-07 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-10 | CH01 | officers | Change person director company with change date | |
| 2025-09-05 | AA | accounts | Accounts with accounts type full | |
| 2025-08-12 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-08-04 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-02-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-01-14 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-14 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-04 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-22 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-10 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-02 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-30 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 1
- 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.