RED FUNNEL LIMITED
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Cash
£3.5m
-42.7% lowest in 3 filed years
Net assets
£30m
+112% highest in 3 filed years
Employees
544
-1.8% lowest in 3 filed years
Profit before tax
£58m
+280.2% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Industrials 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 | £61,084,000 | £59,961,000 | £60,380,000 | +0.7% | |
| Operating profit | -£174,448,000 | -£7,324,000 | -£8,136,000 | -11.1% | |
| Profit before tax | -£194,267,000 | -£31,945,000 | £57,557,000 | +280.2% | |
| Net profit | -£195,313,000 | -£32,406,000 | £57,307,000 | +276.8% | |
| Cash | £6,621,000 | £6,164,000 | £3,529,000 | -42.7% | |
| Total assets less current liabilities | -£131,034,000 | -£165,445,000 | £39,122,000 | +123.6% | |
| Net assets | -£213,418,000 | -£246,500,000 | £29,649,000 | +112% | |
| Equity | — | — | £29,649,000 | — | |
| Average employees | 549 | 554 | 544 | -1.8% | |
| Wages | £18,428,000 | £19,485,000 | £21,016,000 | +7.9% | |
| Directors' remuneration | £1,040,000 | £880,000 | £961,000 | +9.2% | |
| Directors' pension contributions | £68,000 | £61,000 | £52,000 | -14.8% | |
| Highest paid director | £299,000 | £248,000 | £334,000 | +34.7% |
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 | — | -12.2% | -13.5% | |
| Net margin | — | -54.0% | 94.9% | |
| Return on capital employed | — | — | -20.8% | |
| Gearing (liabilities / total assets) | 276.7% | 314.2% | 72.3% | |
| Current ratio | 0.07x | 0.06x | 0.18x | |
| Interest cover | -8.60x | -0.30x | -0.33x |
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 1 time since incorporation
- RED FUNNEL LIMITED 2017-09-27 → present
- HAWK ACQUISITION LIMITED 2017-06-16 → 2017-09-27
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future.”
Group structure
- RED FUNNEL LIMITED · parent
- Falcon Acquisitions Limited 100%
- Southampton Isle of Wight and South of England Royal Mail Steam Packet Company Limited 100%
- Steam Coffee Company Limited 100%
- Isle of Wight Holidays Limited 100%
- Red Funnel (Pension Trustees) Limited 100%
- Hythe and Southampton Ferry Company Limited 100%
Significant events
- “Following the change in ownership in late 2025, the Group completed a comprehensive refinancing and recapitalisation of its balance sheet in May 2026. These actions materially reduced debt levels, simplified the capital structure and strengthened the Group's liquidity.”
- “On 20 March 2026 the Company issued 5,000,000 Ordinary shares with a nominal value of £1 each for £1.04041 per share.”
- “Hythe and Southampton Ferry Company Limited, a 100% subsidiary of Southampton Isle of Wight and South of England Royal Mail Steam Packet Company Limited, was placed into voluntary liquidation on 30 April 2026.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 25 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| COLLINS, Frances Charlotte | Director | 2018-06-21 | Jan 1977 | British |
| DURSTON, Thomas John Angus | Director | 2025-12-08 | May 1994 | British |
| KJELLBERG, Eric Jakob Carl | Director | 2025-12-08 | Oct 1977 | Swedish |
| OSTERLUND, John Olov | Director | 2026-08-27 | Dec 1984 | Swedish |
| SINCLAIR, Lucy Jane | Director | 2025-12-11 | Feb 1973 | British |
| WILSON, Gordon Alexander | Director | 2025-12-11 | Jun 1966 | British |
Show 25 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BARNETSON, Graham | Director | 2019-07-01 | 2023-11-10 |
| BURGESS, Paula | Director | 2017-07-06 | 2017-12-15 |
| CAMPBELL, Michael Francis | Director | 2017-06-16 | 2020-01-24 |
| CHANG, Mary | Director | 2017-07-06 | 2020-07-23 |
| DAYEMBAYEV, Dauren | Director | 2023-09-28 | 2024-02-28 |
| DELANEY, Iain James | Director | 2023-09-01 | 2025-12-08 |
| DOWD, Stephen Donald | Director | 2017-07-06 | 2020-12-31 |
| GEORGE, Kevin Alan | Director | 2017-07-28 | 2021-07-07 |
| GRAY, George Christopher | Director | 2017-12-15 | 2024-02-28 |
| HAMMOND, Matthew John | Director | 2020-11-26 | 2024-02-28 |
| HAZELWOOD, Charles John Gore | Director | 2017-06-16 | 2024-02-28 |
| LOCKE, Claire Elizabeth Bradley | Director | 2017-12-15 | 2020-11-24 |
| MACARTNEY, Elizabeth Anne | Director | 2017-12-15 | 2020-11-24 |
| MARSHALL, Kelly John | Director | 2021-03-25 | 2024-02-28 |
| PERRY, Michelle | Director | 2017-12-15 | 2020-11-24 |
| RICHARDS, Ceri | Director | 2017-12-15 | 2024-02-28 |
| RIDGWAY, Stephen Blakeney | Director | 2021-07-07 | 2025-12-08 |
| ROBERT, Pierre-Frederic | Director | 2020-07-23 | 2024-02-28 |
| SEELY, Patrick Michael | Director | 2017-12-15 | 2023-07-12 |
| SIMS, Polina | Director | 2020-11-26 | 2023-09-28 |
| VALE, Aaron Zachariah | Director | 2020-01-24 | 2020-11-10 |
| WESTON, Michael William | Director | 2017-07-06 | 2019-01-04 |
| WILSON, Edward Arthur | Director | 2017-06-16 | 2024-02-28 |
| WINTER, Paul Richard | Director | 2017-07-28 | 2019-03-31 |
| ØSTERGAARD, Erik Jorgen | Director | 2021-07-05 | 2025-12-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Insula Vecta Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2025-11-28 | Active |
Filing timeline
Last 20 of 95 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-30 | AA | accounts | Accounts with accounts type group | |
| 2026-09-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-06-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-05-07 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-29 | SH01 | capital | Capital allotment shares | |
| 2026-04-24 | SH01 | capital | Capital allotment shares | |
| 2026-01-12 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-10 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-08 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-08 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-07 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-07 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-07 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-12 | AA | accounts | Accounts with accounts type group | |
| 2025-12-05 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-12-05 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2025-06-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-04-14 | AA | accounts | Accounts with accounts type group | |
| 2025-04-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-27 | AA01 | accounts | Change account reference date company previous shortened |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 16
- Capital events
- 2
- Officers appointed
- 5
- 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.