FIRST TRANSPENNINE EXPRESS LIMITED
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Cash
£7.5M
-63.4% vs 2024
Net assets
-£19M
+1.9% vs 2024
Employees
4
-98.4% vs 2024
Profit before tax
£678K
-78.3% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
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Accounts not prepared on a going-concern basis
As explained above in "Our priorities and outlook", the Company ceased to operate passenger rail services on 28 May 2023 and these financial statements have been prepared on a basis other than going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.
-
Going-concern uncertainty disclosed
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Negative shareholders' funds
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £50,772,000 | £0 | -100% | |
| Operating profit | £2,658,000 | £577,000 | -78.3% | |
| Profit before tax | £3,131,000 | £678,000 | -78.3% | |
| Net profit | £6,217,000 | £377,000 | -93.9% | |
| Cash | £20,615,000 | £7,546,000 | -63.4% | |
| Total assets less current liabilities | -£19,633,000 | -£19,256,000 | +1.9% | |
| Net assets | -£19,633,000 | -£19,256,000 | +1.9% | |
| Equity | -£19,633,000 | -£19,256,000 | +1.9% | |
| Average employees | 248 | 4 | -98.4% | |
| Wages | £14,708,000 | £2,000 | -100% | |
| Directors' remuneration | £222,000 | — | — |
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 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 5.2% | — | |
| Net margin | 12.2% | — | |
| Current ratio | 0.62x | 0.38x | |
| Interest cover | 17.26x | — |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Not a going concern (break-up basis)
“As explained above in "Our priorities and outlook", the Company ceased to operate passenger rail services on 28 May 2023 and these financial statements have been prepared on a basis other than going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.”
Group structure
- FIRST TRANSPENNINE EXPRESS LIMITED · parent
- Transpennine Trains Limited
Significant events
- “The Company ceased to operate passenger rail services on 28 May 2023 and the DfT's Operator of Last Resort took over the delivery of passenger services on the network.”
- “Its principal risk going forward, following the successful transfer of the trade and certain assets and liabilities to Transpennine Trains Limited, is the realisation and settlement of its residual assets and liabilities. The Company continues to report to the DfT on a periodic basis on its progress with these realisations and settlements.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 15 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BURROWS, Clive | Director | 2016-04-21 | Aug 1958 | British |
| JAMES, Andrew Mark | Director | 2023-06-12 | Mar 1966 | British |
| MONTGOMERY, Stephen Henry | Director | 2015-09-28 | Dec 1962 | British |
| NELSON, Michael John | Director | 2020-06-01 | Sep 1970 | British |
Show 15 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HAMPSON, Michael | Secretary | 2016-07-22 | 2017-02-20 |
| SALTER, Barbara Mary | Secretary | 2017-02-20 | 2025-02-14 |
| WELCH, Robert John | Secretary | 2014-07-02 | 2016-07-22 |
| BARKER, Vernon Ian | Director | 2014-07-02 | 2015-04-17 |
| CLANCY, Hugh Patrick | Director | 2014-07-02 | 2023-08-04 |
| COLLINS, Elizabeth Anne | Director | 2016-02-08 | 2021-06-01 |
| GARDNER, Kevin | Director | 2017-07-14 | 2020-05-29 |
| GAUSBY, David Clement | Director | 2014-07-02 | 2016-12-31 |
| GOLTON, Matthew Lawrence | Director | 2021-06-01 | 2023-05-26 |
| GOODWIN, Leo David | Director | 2016-01-08 | 2020-03-03 |
| HIGGINS, Darren Craig | Director | 2016-02-08 | 2023-05-26 |
| JAMES, Carolann | Director | 2020-09-10 | 2023-05-26 |
| JARVIS, Scott Ian | Director | 2017-09-07 | 2018-10-04 |
| MCNEIL, Andrew John | Director | 2016-04-01 | 2017-08-06 |
| WATKINS, Andrew Alan | Director | 2019-09-05 | 2023-05-26 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| First Rail Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 66 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-15 | AA | accounts | Accounts with accounts type full | |
| 2025-02-14 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-01-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-03 | AA | accounts | Accounts with accounts type full | |
| 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 | |
| 2023-06-15 | AP01 | officers | Appoint person director company with name date | |
| 2023-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2023-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2023-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2023-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2023-01-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-10 | AA | accounts | Accounts with accounts type full | |
| 2022-07-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-02-28 | AA | accounts | Accounts with accounts type full | |
| 2021-11-02 | AA | accounts | Accounts with accounts type full | |
| 2021-10-12 | CH01 | officers | Change person director company with change date | |
| 2021-10-12 | CH01 | officers | Change person director company with change 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.