SOUTHAMPTON ISLE OF WIGHT AND SOUTH OF ENGLAND ROYAL MAIL STEAM PACKET COMPANY LIMITED

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

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.

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. Njord Partners has confirmed that they will provide, or procure the provision of, such financial support as is necessary for a period of at least 12 months from the date of approval of these financial statements. This confirmation has been executed as a deed.”

Group structure

1. SOUTHAMPTON ISLE OF WIGHT AND SOUTH OF ENGLAND ROYAL MAIL STEAM PACKET COMPANY LIMITED · parent
   1. Red Funnel (Pension Trustees) Limited 100% · Southampton, Hampshire
   2. Isle of Wight Holidays Limited 100% · Southampton, Hampshire
   3. Steam Coffee Company Limited 100% · Southampton, Hampshire
   4. Hythe and Southampton Ferry Company Limited 100% · Southampton, Hampshire

Significant events

• “In the prior year, the Group acquired the Hythe and Southampton Ferry Company Limited, which provides ferry services between Southampton and Hythe, trading as 'Hythe Ferry'.”
• “disposal of Red Jet 4 was undertaken in 2024”
• “Group entered into a partnership with Artemis Technologies for a brand new 150 seat, zero emission electric passenger ferry which will join the Hi-speed fleet in 2026.”
• “On 29 September 2025, an offer by a company controlled by Njord Partners was accepted to purchase the entire share capital of the Company's intermediate holding company, Red Funnel Limited, from the previous owners, Red Funnel Holdings Limited. A Sale and Purchase Agreement ("SPA") was executed for the transaction. The SPA transaction is subject to National Security and Investment Act ("NSIA") approval and will fully complete once NSIA approval is received.”
• “On 29 September 2025, Red Funnel Limited agreed a comprehensive waiver of certain requirements under the loan arrangements. On the same date, and under each relevant loan, the lender has agreed not to take any action against the Company or the Group until at least the end of October 2026.”

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

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  -1.8%

  £61,084,000 → £59,961,000

• Cash

  -75.8%

  £6,019,000 → £1,454,000

• Net assets

  +1.3%

  £73,313,000 → £74,256,000

• Employees

  +1.3%

  544 → 551

• Operating profit

  +5.2%

  £3,068,000 → £3,229,000

• Profit before tax

  -42.1%

  £1,099,000 → £636,000

• Wages

  +6.1%

  £18,202,000 → £19,311,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers