FIRST TRENITALIA WEST COAST RAIL LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2027-01-17 (in 8mo)
Last made up 2026-01-03
Watchouts
Cash
£47M
-38.1% vs 2024
Net assets
£9M
-18.3% vs 2024
Employees
3,360
+1.9% vs 2024
Profit before tax
£13M
+2.4% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
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 | £1,019,405,000 | £1,015,566,000 | |
| Operating profit | £11,436,000 | £14,670,000 | |
| Profit before tax | £12,331,000 | £12,631,000 | |
| Net profit | £9,353,000 | £9,488,000 | |
| Cash | £75,690,000 | £46,846,000 | |
| Total assets less current liabilities | £38,225,000 | £34,069,000 | |
| Net assets | £10,849,000 | £8,867,000 | |
| Equity | £10,849,000 | £8,867,000 | |
| Average employees | 3,296 | 3,360 | |
| Wages | £178,541,000 | £196,569,000 | |
| Directors' remuneration | £1,132,000 | £919,000 |
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
-0.4%
£1,019,405,000 £1,015,566,000
-
Cash
-38.1%
£75,690,000 £46,846,000
-
Net assets
-18.3%
£10,849,000 £8,867,000
-
Employees
+1.9%
3,296 3,360
-
Operating profit
+28.3%
£11,436,000 £14,670,000
-
Profit before tax
+2.4%
£12,331,000 £12,631,000
-
Wages
+10.1%
£178,541,000 £196,569,000
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 | 1.1% | 1.4% | |
| Net margin | 0.9% | 0.9% | |
| Return on capital employed | 29.9% | 43.1% | |
| Gearing (liabilities / total assets) | 96.3% | 96.4% | |
| Current ratio | 1.14x | 1.10x | |
| Interest cover | — | 7.19x |
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.
Name history
Renamed 1 time since incorporation
- FIRST TRENITALIA WEST COAST RAIL LIMITED 2017-01-23 → present
- FIRST WEST COAST RAIL LIMITED 2016-08-27 → 2017-01-23
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.”
Significant events
- “In September 2023 WCP was awarded a National Rail Contract ("NRC"). The NRC commenced on 15 October 2023 and runs for nine years, to October 2032, with a minimum three-year core term to 18 October 2026.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 15 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CASWELL, Benjamin John, Dr | Director | 2026-05-03 | Mar 1959 | British |
| GAIGER, Shamit Weinberger | Director | 2022-07-25 | Aug 1972 | British |
| JAMES, Carolann | Director | 2025-06-30 | Sep 1970 | British |
| MELLORS, Andrew John | Director | 2023-03-20 | Oct 1970 | British |
| NELSON, Michael John | Director | 2020-06-01 | Sep 1970 | British |
| SICILIA, Ernesto | Director | 2016-11-02 | Sep 1963 | Italian |
| TONINI, Bernardo | Director | 2022-10-03 | Jul 1976 | Italian |
Show 15 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HAMPSON, Michael | Secretary | 2016-12-16 | 2017-02-20 |
| ODUMOSU, Bimbola | Secretary | 2016-08-27 | 2016-12-16 |
| SALTER, Barbara Mary | Secretary | 2017-02-20 | 2025-02-14 |
| BOWLEY, Richard John | Director | 2019-12-12 | 2021-03-31 |
| CLANCY, Hugh Patrick | Director | 2016-08-27 | 2023-08-04 |
| COLLINS, Elizabeth Anne | Director | 2021-06-01 | 2025-09-30 |
| DONALDSON, Caroline Ann | Director | 2019-12-08 | 2022-03-31 |
| FORSTER, Craig Joseph | Director | 2022-09-05 | 2025-06-30 |
| GARDNER, Kevin | Director | 2017-07-10 | 2020-05-29 |
| GAUSBY, David Clement | Director | 2016-08-27 | 2016-12-31 |
| MONTGOMERY, Stephen Henry | Director | 2016-08-27 | 2024-05-15 |
| POWER, Elizabeth Mary | Director | 2020-06-15 | 2022-06-10 |
| STATHAM, David Ira | Director | 2023-06-12 | 2026-05-03 |
| TAYLOR, Robert William | Director | 2021-03-31 | 2022-10-03 |
| WHITTINGHAM, Philip | Director | 2019-12-08 | 2022-09-05 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Fs Group Advisory Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-11-02 | Active |
| First Rail Holdings Limited | Corporate entity | Shares 50–75%, Voting 50–75%, Appoints directors | 2016-08-27 | Active |
Filing timeline
Last 20 of 74 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-05 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-05 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-03 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-01-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-11-24 | AA | accounts | Accounts with accounts type full | |
| 2025-10-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-14 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-01-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-02 | AA | accounts | Accounts with accounts type full | |
| 2024-05-16 | TM01 | officers | Termination director company with name termination date | |
| 2024-01-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-12 | AA | accounts | Accounts with accounts type full | |
| 2023-08-15 | TM01 | officers | Termination director company with name termination date | |
| 2023-06-26 | AP01 | officers | Appoint person director company with name date | |
| 2023-03-30 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-10 | AA | accounts | Accounts with accounts type full | |
| 2022-10-04 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 3
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.