WATERCRESS LINE HERITAGE RAILWAY TRUST LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2025-03-31
Confirmation statement due
2026-07-21 (in 2mo)
Last made up 2025-07-07
Watchouts
Cash
£1M
+1.3% vs 2024
Net assets
£6M
-28.2% vs 2024
Employees
44
+4.8% vs 2024
Profit before tax
-£2M
-548.3% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Name history
Renamed 1 time since incorporation
- WATERCRESS LINE HERITAGE RAILWAY TRUST LIMITED 2022-03-22 → present
- MID-HANTS RAILWAY PRESERVATION SOCIETY LIMITED 1973-08-03 → 2022-03-22
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 | £2,639,397 | £2,955,253 | |
| Operating profit | — | — | |
| Profit before tax | £551,228 | -£2,471,132 | |
| Net profit | £462,281 | -£2,544,173 | |
| Cash | £1,123,859 | £1,137,919 | |
| Total assets less current liabilities | £10,060,534 | £7,379,817 | |
| Net assets | £9,009,557 | £6,465,384 | |
| Equity | £9,009,557 | £6,465,384 | |
| Average employees | 42 | 44 | |
| Wages | £988,076 | £1,143,687 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Net margin | 17.5% | -86.1% | |
| Gearing (liabilities / total assets) | 18.1% | 22.5% | |
| Current ratio | 2.25x | 1.66x |
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
- Consolidated group
- Auditor
- Azets Audit Services
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“At the time of approving the financial statements the Trustees have a reasonable expectation that the charitable company and group have adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.”
Group structure
- WATERCRESS LINE HERITAGE RAILWAY TRUST LIMITED · parent
- Mid-Hants Railway Limited 100%
- Wadebridge (34007) Locomotive Limited 76.96%
Significant events
- “The closing days of the financial year 2024-2025 saw the return to steam of the Watercress Line Heritage Railway Trust's Merchant Navy locomotive, 35005 Canadian Pacific. This was marked by a high profile launch, with the guests of honour including the Chief Executive of the National Lottery Heritage Fund and the Canadian Deputy High Commissioner.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 61 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DALLEY, Rebecca Jane | Secretary | 2026-04-21 | — | — |
| SUMNER, Rachael Amy | Secretary | 2025-09-26 | — | — |
| DE STYRCEA, Michael Edward David | Director | 2026-02-28 | Apr 1954 | British |
| EVANS, Stephen Nicholas | Director | 2022-05-01 | Jun 1950 | British |
| MARSDEN, Sabrina Lee-Anne | Director | 2026-02-28 | Oct 1988 | British |
| MORRIS, Jonathan Charles Robert | Director | 2024-02-05 | Jun 1982 | British |
| WATSON, Gregory Hamilton | Director | 2018-12-18 | Jan 1965 | British |
Show 61 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BEARPARK, Andrew Kevin | Secretary | 2025-03-12 | 2025-07-09 |
| BOAIT, Joanna Catherine | Secretary | 2004-11-01 | 2010-08-25 |
| BUCHANAN, Duncan James | Secretary | 2000-12-14 | 2001-07-01 |
| CUTLER, Peter John Lewis | Secretary | 2001-08-09 | 2004-10-31 |
| DALLEY, Rebecca | Secretary | 2024-04-08 | 2025-03-12 |
| GREENWOOD, Peter | Secretary | 2015-09-19 | 2020-10-11 |
| KNIGHT, Michael Roy | Secretary | — | 2000-12-15 |
| ORMOND, Richard John | Secretary | 2010-08-25 | 2015-09-19 |
| SMITH, Peter | Secretary | 2020-10-12 | 2024-04-08 |
| ACKROYD, Charles Edward Haviland | Director | 2022-09-12 | 2023-05-01 |
| ATHERDEN, Jean Margaret | Director | — | 2000-07-27 |
| BARBER, Graham John | Director | 2001-06-09 | 2009-09-26 |
| BLAZDELL, Derek Clifford | Director | — | 2001-02-22 |
| BODIAM, John Thomas | Director | 1994-01-23 | 1998-07-26 |
| BUCHANAN, Duncan James | Director | 2000-12-14 | 2001-07-01 |
| CHAMBERS, Colin Michael | Director | 2001-06-09 | 2016-09-17 |
| CLEMENTS, Susan | Director | 2014-08-08 | 2019-08-14 |
| CLEMENTS, Susan | Director | 2010-03-20 | 2011-11-26 |
| CROWTHER, Neil | Director | 2004-11-01 | 2007-09-07 |
| CROWTHER, Stephanie Claire | Director | 2002-12-07 | 2020-12-09 |
| CUTLER, Peter John Lewis | Director | 2001-06-09 | 2003-09-14 |
| DREW, Warwick Hartley | Director | 2000-07-01 | 2004-07-04 |
| EDEN, Barry | Director | — | 2001-06-09 |
| ELLIOT, John William | Director | 2000-12-14 | 2005-07-03 |
| EVANS, Stephen Nicholas | Director | 2018-12-18 | 2022-05-01 |
| FAIRBROTHER, Alan Peter | Director | 1999-09-11 | 2000-11-17 |
| FINCH, Geoffrey Allan | Director | 2013-01-31 | 2017-11-13 |
| FINCH, Geoffrey Allan | Director | 2002-03-23 | 2012-09-22 |
| FORD, David John | Director | 2013-01-31 | 2022-04-01 |
| GARWOOD, Neil Trevor | Director | 2022-09-12 | 2026-02-11 |
| HAKES, Cathy | Director | 2022-09-12 | 2024-02-05 |
| HARDINGHAM, Roger Charles | Director | 2000-12-07 | 2001-12-16 |
| HARRIS, Iain | Director | 2007-07-22 | 2010-09-25 |
| HAWKINS, Richard Anthony | Director | 2021-04-24 | 2025-02-28 |
| HAWKINS, Richard Anthony Playfair | Director | 1999-01-16 | 1999-07-10 |
| HIGGS, Robin Philip Coventry | Director | — | 1992-11-07 |
| JACOB, Rosemary | Director | 2000-12-07 | 2001-06-11 |
| JONES, David Stjohn | Director | 2021-04-24 | 2024-02-05 |
| KENCHENTEN, Liam Paul | Director | 2013-01-31 | 2020-09-02 |
| KNIGHT, Michael Roy | Director | — | 2000-12-15 |
| LACEY, Richard Howard | Director | 2023-05-15 | 2024-02-05 |
| LACEY, Richard Howard | Director | 2022-05-01 | 2022-09-12 |
| LACEY, Richard Howard | Director | 2021-11-01 | 2022-05-01 |
| LATHAM, Robert | Director | 2010-11-20 | 2022-09-12 |
| NAISH, Andrew William | Director | 2000-12-07 | 2001-06-09 |
| NEEP, Michael Charles | Director | 2017-09-17 | 2019-07-15 |
| PATE, Iain Alexander | Director | 1999-01-16 | 2000-11-20 |
| PATE, Iain Alexander | Director | — | 1991-11-17 |
| PRETIOUS, Peter John | Director | 2001-06-09 | 2010-09-25 |
| PRETIOUS, Peter John | Director | — | 1997-01-12 |
| PUDNEY, Iain James Mackenzie | Director | — | 2000-10-10 |
| REES, John Llewellyn | Director | 2001-06-09 | 2018-01-19 |
| RUSSELL, James Frederick George | Director | 2000-07-01 | 2010-11-20 |
| SIMMONDS, Derek Robert | Director | 2014-08-08 | 2020-12-09 |
| SMALL, Jeremy Peter | Director | 2022-09-12 | 2023-06-01 |
| SMITH, Christopher Philip | Director | 2010-11-20 | 2014-07-13 |
| SMITH, Peter | Director | 2018-12-18 | 2024-06-07 |
| SNOW, David Geoffrey | Director | 2001-11-22 | 2006-06-03 |
| SUMNER, Graham | Director | 2024-02-05 | 2025-12-15 |
| TRIGG, John Kenneth, Dr | Director | 2009-11-28 | 2019-11-02 |
| WOODROOFE, David Kenneth | Director | — | 1999-01-24 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 232 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-21 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-03-12 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-11 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-28 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-18 | AA | accounts | Accounts with accounts type group | |
| 2025-10-02 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-10-02 | AA01 | accounts | Change account reference date company current shortened | |
| 2025-07-23 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-07-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-25 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-03-21 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-03-08 | DISS40 | gazette | Gazette filings brought up to date | |
| 2025-03-04 | GAZ1 | gazette | Gazette notice compulsory | |
| 2025-03-03 | AA | accounts | Accounts with accounts type group | |
| 2025-02-28 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-08 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-09 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-04-09 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 0
- Officers appointed
- 4
- Officers resigned
- 3
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.
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+12%
£2,639,397 £2,955,253
-
Cash
+1.3%
£1,123,859 £1,137,919
-
Net assets
-28.2%
£9,009,557 £6,465,384
-
Employees
+4.8%
42 44
-
Profit before tax
-548.3%
£551,228 -£2,471,132
-
Wages
+15.7%
£988,076 £1,143,687
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