TRANSPORT FOR WALES RAIL LTD
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-06-08 (in 1mo)
Last made up 2025-05-25
Watchouts
None on the register
Cash
£18M
+28% vs 2024
Net assets
£1M
-74.4% vs 2024
Employees
—
Average over period
Profit before tax
-£405K
+56.7% 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 | £568,721,000 | £614,875,000 | |
| Operating profit | £5,126,000 | £12,748,000 | |
| Profit before tax | -£935,000 | -£405,000 | |
| Net profit | -£3,473,000 | -£405,000 | |
| Cash | £14,063,000 | £17,997,000 | |
| Total assets less current liabilities | £650,429,000 | £740,047,000 | |
| Net assets | £5,576,000 | £1,427,000 | |
| Equity | £5,576,000 | £1,427,000 | |
| Average employees | — | — | |
| Wages | £183,068,000 | £207,921,000 | |
| Directors' remuneration | £367,000 | £382,000 |
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
+8.1%
£568,721,000 £614,875,000
-
Cash
+28%
£14,063,000 £17,997,000
-
Net assets
-74.4%
£5,576,000 £1,427,000
-
Employees
—
Not reported
-
Operating profit
+148.7%
£5,126,000 £12,748,000
-
Profit before tax
+56.7%
-£935,000 -£405,000
-
Wages
+13.6%
£183,068,000 £207,921,000
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 | 0.9% | 2.1% | |
| Net margin | -0.6% | -0.1% | |
| Return on capital employed | 0.8% | 1.7% | |
| Gearing (liabilities / total assets) | 99.3% | 99.8% | |
| Current ratio | 0.78x | 0.68x | |
| Interest cover | 0.85x | 0.97x |
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
- TRANSPORT FOR WALES RAIL LTD 2020-10-16 → present
- WALES OPERATOR OF LAST RESORT LIMITED 2020-05-26 → 2020-10-16
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Company or to cease its operations, and as they have concluded that the Company's financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements ("the going concern period").”
Significant events
- “On 21 October 2024, two TfW trains collided at Talerddig on the Cambrian line in a slow speed collision. 15 people were injured, four seriously, and, tragically, one passenger died.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CHAUDHRY, Jan | Director | 2021-03-29 | Mar 1967 | British |
| CLASH, Heather Jeanette | Director | 2020-05-28 | Oct 1969 | British |
| COURSE, Alexia Lorna | Director | 2020-12-10 | Sep 1980 | British |
| DALY, Marie Bernadette | Director | 2021-05-20 | Aug 1976 | British |
| PRICE, James Robert | Director | 2020-05-26 | Oct 1974 | British |
| STRACHAN, Peter | Director | 2021-03-26 | Aug 1959 | British |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DALY, Marie Bernadette | Director | 2021-02-05 | 2021-03-29 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Transport For Wales Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-05-26 | Active |
Filing timeline
Last 20 of 49 total filings
Material constitutional events — rename, articles re-file, resolution
- 2022-07-25 RESOLUTIONS Resolution
- 2022-07-25 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-08-14 | AA | accounts | Accounts with accounts type full | |
| 2025-05-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-14 | AA | accounts | Accounts with accounts type full | |
| 2024-05-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-19 | AA | accounts | Accounts with accounts type full | |
| 2023-05-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-29 | AA | accounts | Accounts with accounts type full | |
| 2022-07-25 | RESOLUTIONS | resolution | Resolution | |
| 2022-07-25 | MA | incorporation | Memorandum articles | |
| 2022-05-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-05-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-05-24 | AP01 | officers | Appoint person director company with name date | |
| 2021-04-07 | CH01 | officers | Change person director company with change date | |
| 2021-03-30 | AP01 | officers | Appoint person director company with name date | |
| 2021-03-30 | TM01 | officers | Termination director company with name termination date | |
| 2021-03-30 | AP01 | officers | Appoint person director company with name date | |
| 2021-02-16 | AA01 | accounts | Change account reference date company current extended | |
| 2021-02-16 | AA | accounts | Accounts with accounts type dormant | |
| 2021-02-10 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-02-10 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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.