SCOTTISH RAIL HOLDINGS LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-11-10 (in 6mo)
Last made up 2025-10-27
Watchouts
Cash
£70M
+10.1% vs 2024
Net assets
-£28M
+16.3% vs 2024
Employees
36
+44% highest in 4 filed years
Profit before tax
-£821M
-4.7% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
These conclusions are not intended to, nor do they, provide assurance on the company’s current or future financial sustainability. However, I report on the company’s arrangements for financial sustainability in a separate Annual Audit Report available from the Audit Scotland website.
Net assets
4-year trend · vs Industrials median
Accounts
4-year trend · latest reflected 2025-03-31
| Metric | Trend | 2020-10-31 | 2021-10-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|---|
| Turnover | — | — | £351,390,000 | £395,012,000 | |
| Operating profit | — | — | -£777,869,000 | -£815,182,000 | |
| Profit before tax | — | — | -£784,257,000 | -£821,171,000 | |
| Net profit | — | — | -£784,257,000 | -£821,299,000 | |
| Cash | — | — | £63,773,000 | £70,230,000 | |
| Total assets less current liabilities | £82 | £41 | £330,985,000 | £430,105,000 | |
| Net assets | £82 | £41 | -£33,283,000 | -£27,862,000 | |
| Equity | £82 | £41 | -£33,283,000 | -£27,816,000 | |
| Average employees | 0 | 0 | 25 | 36 | |
| Wages | — | — | £273,008,000 | £294,875,000 | |
| Directors' remuneration | — | — | £562,500 | £775,000 |
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
+12.4%
£351,390,000 £395,012,000
-
Cash
+10.1%
£63,773,000 £70,230,000
-
Net assets
+16.3%
-£33,283,000 -£27,862,000
-
Employees
+44%
25 36
highest in 4 filed years
-
Operating profit
-4.8%
-£777,869,000 -£815,182,000
-
Profit before tax
-4.7%
-£784,257,000 -£821,171,000
-
Wages
+8%
£273,008,000 £294,875,000
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 | 2020-10-31 | 2021-10-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|---|
| Return on capital employed | — | — | -235.0% | -189.5% | |
| Gearing (liabilities / total assets) | — | — | 105.4% | 103.8% | |
| Current ratio | — | — | 0.68x | 0.66x | |
| Interest cover | — | — | -121.50x | -119.70x |
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 2 times since incorporation
- SCOTTISH RAIL HOLDINGS LIMITED 2021-03-24 → present
- SOLR HOLDINGS LIMITED 2018-05-18 → 2021-03-24
- SOLR1 LIMITED 2016-10-28 → 2018-05-18
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Audit Scotland
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“These conclusions are not intended to, nor do they, provide assurance on the company’s current or future financial sustainability. However, I report on the company’s arrangements for financial sustainability in a separate Annual Audit Report available from the Audit Scotland website.”
Group structure
- SCOTTISH RAIL HOLDINGS LIMITED · parent
- ScotRail Trains Limited 100%
- Caledonian Sleeper Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 17 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| AMNER, Neil Mcdonald | Secretary | 2024-11-20 | — | — |
| AMNER, Neil Mcdonald | Director | 2024-11-20 | Sep 1967 | British |
| BAGSHAW, Michael David | Director | 2025-08-04 | May 1973 | British |
| BAVERSTOCK, Brian Edward | Director | 2023-08-01 | Jun 1960 | British |
| DAVIDSON, Campbell Bruce | Director | 2024-06-27 | Jan 1987 | British |
| DOCHERTY, Iain Wilson, Professor | Director | 2025-02-04 | Nov 1972 | British |
| FOYER, Rozanne | Director | 2022-05-26 | Nov 1972 | British |
| GRIFFITHS, Carolyn Jane | Director | 2023-04-01 | May 1958 | British |
| MACQUARRIE, John | Director | 2022-08-18 | Jan 1968 | Scottish |
| ROSS, Hannah Beverley Monie | Director | 2024-09-23 | Aug 1977 | British |
Show 17 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DIXON, Emma Jane | Secretary | 2022-12-08 | 2024-05-31 |
| BRODIES SECRETARIAL SERVICES LIMITED | Corporate Secretary | 2024-05-31 | 2024-11-20 |
| BRODIES SECRETARIAL SERVICES LIMITED | Corporate Secretary | 2016-10-28 | 2018-08-01 |
| MACROBERTS CORPORATE SERVICES LIMITED | Corporate Nominee Secretary | 2018-08-01 | 2022-12-08 |
| BAXTER, Michael Alan | Director | 2018-02-19 | 2019-12-13 |
| BOGAN, Gary Hugh | Director | 2016-10-28 | 2018-02-20 |
| BROWN, Nicholas James Forster | Director | 2022-05-26 | 2023-03-31 |
| CAIRNS, Richard | Director | 2023-04-01 | 2024-12-31 |
| COOK, Graeme | Director | 2024-06-27 | 2025-08-02 |
| DIXON, Emma Jane | Director | 2022-12-08 | 2024-05-31 |
| GIBB, Christopher Leslie | Director | 2022-03-21 | 2022-12-29 |
| LLEWELLYN, Gareth Mark | Director | 2022-05-26 | 2023-03-31 |
| LOWRIE, David | Director | 2022-03-21 | 2024-06-28 |
| MACKIE, Andrew William | Director | 2018-02-19 | 2021-03-26 |
| PROVAN, John Henry | Director | 2021-03-26 | 2022-03-17 |
| REEVE, William Joseph | Director | 2016-10-28 | 2022-05-26 |
| SHEDDEN, James Lee | Director | 2019-12-13 | 2023-08-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Scottish Ministers | Corporate entity | Shares 75–100%, Voting 75–100% | 2018-05-17 | Active |
| Solr Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-10-28 | Ceased 2018-05-17 |
Filing timeline
Last 20 of 81 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-16 | AA | accounts | Accounts with accounts type group | |
| 2025-11-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-30 | CH01 | officers | Change person director company with change date | |
| 2025-10-29 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-08-05 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-05 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-19 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-13 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-13 | CH01 | officers | Change person director company with change date | |
| 2025-01-13 | CH03 | officers | Change person secretary company with change date | |
| 2024-12-31 | AA | accounts | Accounts with accounts type group | |
| 2024-11-21 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-11-21 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-11-21 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-05 | CH01 | officers | Change person director company with change date | |
| 2024-11-05 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-11-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-04 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-09-23 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-02 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
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.