ABELLIO SCOTRAIL LTD

• ⚠

  Material uncertainty over going concern

  We draw attention to note 3 to the financial statements which explains that the Directors have ceased trading of the Company being effective on 1 April 2022 and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements

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

  -99.6%

  £10,355,000 → £39,000

• Cash

  +13.8%

  £19,736,000 → £22,465,000

• Net assets

  +51.8%

  £5,041,000 → £7,654,000

• Employees

  —

  Not reported

• Operating profit

  -99.4%

  £11,180,000 → £72,000

• Profit before tax

  -70.1%

  £10,782,000 → £3,228,000

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. 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.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 3 to the financial statements which explains that the Directors have ceased trading of the Company being effective on 1 April 2022 and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements”

Significant events

• “The Company was originally set up to operate a franchise from 1 April 2015 to 31 March 2025, under a 10-year term. In December 2019, Transport Scotland announced that they would enact a break clause in the original Franchise Agreement which led to an expectation that the Company would cease to trade on 1 April 2022. This expectation was confirmed when it was announced to the Scottish Parliament on 17 March 2021 that Scottish Ministers had decided that from 1 April 2022 a Successor Operator will take over operation of the ScotRail Service. The Successor Operator is ScotRail Trains Limited, a company that is ultimately within public ownership.”
• “While the existing trade ceased on 1 April 2022, the Company remains in existence to realise the remaining assets and liabilities being the assets and liabilities that have not transferred to ScotRail Trains Limited, under the provisions of the Franchise Agreement. This may take some time to complete.”
• “There were no significant events after the balance sheet date”

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

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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