WEST MIDLANDS TRAINS LIMITED

• ⚠

  Material uncertainty over going concern

  With regard to Going Concern, the Directors are of the view that whilst WMT s core NRC date has passed, there is a material uncertainty over whether and when WMI will be announced as being transferred into public ownership With no further dates announced by the SoS, and dialogue between IUK and DIT regarding the process and facilitation of a transfer ongoing there remains no certainty over the WMT expiry date Management have undertaken a thorough review of the impacts of the termination of the NRC and have concluded WMI is a going concern with material uncertainty.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

• Turnover

  +10.1%

  £651,169,000 → £717,175,000

• Cash

  -22.6%

  £44,229,000 → £34,254,000

• Net assets

  +6.3%

  -£2,835,000 → -£2,657,000

• Employees

  +3.7%

  2,953 → 3,062

• Operating profit

  +10.1%

  £12,629,000 → £13,902,000

• Profit before tax

  +26.5%

  £9,162,000 → £11,590,000

• Wages

  +16.3%

  £156,945,000 → £182,474,000

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

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.

1. WEST MIDLANDS TRAINS LIMITED 2016-03-02 → present
2. ABELLIO WEST MIDLANDS LIMITED 2015-11-06 → 2016-03-02

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“With regard to Going Concern, the Directors are of the view that whilst WMT s core NRC date has passed, there is a material uncertainty over whether and when WMI will be announced as being transferred into public ownership With no further dates announced by the SoS, and dialogue between IUK and DIT regarding the process and facilitation of a transfer ongoing there remains no certainty over the WMT expiry date Management have undertaken a thorough review of the impacts of the termination of the NRC and have concluded WMI is a going concern with material uncertainty.”

Significant events

• “Following the passing of the Passenger Railway Services (Public Ownership) Act 2024, which gained Royal Assent on 28 November 2024, the first three operators to be transferred into public, ownership have been announced with a proposal for others to follow every three months afterwards The first three operators are expected to transfer in May 2025, July 2025 and October 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.