LHR AIRPORTS LIMITED — The Accounts

Get an alert when LHR AIRPORTS LIMITED files next

Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.

Next accounts due

2026-09-30 (in 4mo)

Last filed for 2024-12-31

Confirmation statement due

2026-07-11 (in 2mo)

Last made up 2025-06-27

Watchouts

None on the register

Cash

£9M

-50% vs 2023

Net assets

£3B

-77.4% vs 2023

Employees

0% vs 2023

Profit before tax

£262M

-65% vs 2023

Net assets

2-year trend · vs Consumer Discretionary median

LHR AIRPORTS LIMITED·Consumer Discretionary median · n=5592

Accounts

2-year trend · latest reflected 2024-12-31

Metric	2023-12-31	2024-12-31
Turnover	£13,000,000	£9,000,000
Operating profit	-£701,000,000	£4,000,000
Profit before tax	£748,000,000	£262,000,000
Net profit	£629,000,000	£137,000,000
Cash	£18,000,000	£9,000,000
Total assets less current liabilities	—	—
Net assets	£11,852,000,000	£2,678,000,000
Equity	£11,852,000,000	£2,678,000,000
Average employees	23	23
Wages	£9,000,000	£5,000,000

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

Ratios

Computed from the line items above — sparklines read oldest → newest

Ratio	2023-12-31	2024-12-31
Operating margin	-5392.3%	44.4%
Net margin	4838.5%	1522.2%
Gearing (liabilities / total assets)	6.6%	17.1%
Current ratio	0.03x	0.18x
Interest cover	-8.25x	0.36x

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: Affirmed
“The Directors have prepared the financial information presented within these financial statements on a going concern basis as they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.”

Group structure

LHR AIRPORTS LIMITED · parent
1. Heathrow (DSH) Limited · England and Wales
2. Heathrow Enterprises Limited · England and Wales
3. BAA Partnership Limited · England and Wales
4. LHR Insurance Services Limited · Isle of Man
5. LHR Building Control Services Limited · England and Wales
6. LHR Business Support Centre Limited · England and Wales
7. BAA Pension Trust Company Limited · England and Wales
8. LHR Airport Services Limited · England and Wales
9. BMG (Ashford) General Partner Limited · England and Wales
10. BMG (Ashford) Limited · England and Wales
11. BMG (Ashford) Partnership Trustco Limited · England and Wales
12. Heathrow (AH) Limited · England and Wales
13. Heathrow (SP) Limited · England and Wales
14. Heathrow Airport Limited · England and Wales
15. Heathrow Express Operating Company Limited · England and Wales
16. Heathrow Finance plc · England and Wales
17. Heathrow Funding Limited · Jersey, Channel Islands
18. The BMG (Ashford) Limited Partnership · England and Wales
19. Ultra Global Limited · England and Wales

Significant events

“On 7 March 2025, the Company declared and paid a dividend of £250 million.”

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

People

7 active · 90 resigned

Name	Role	Appointed	Born	Nationality
BAKER, Ross Findlay Scott	Director	2017-01-01	Jun 1974	British
BUTLER, Joanne Catherine	Director	2025-01-20	Jan 1974	British
DING, Yuanyuan	Director	2024-10-17	Aug 1979	British
ELSBY, Helen Mary	Director	2021-09-01	Nov 1975	British
ESPOT, Javier Echave	Director	2016-11-24	May 1980	British
MILTON, Nigel Anthony	Director	2021-09-01	Sep 1970	British
WOLDBYE, Thomas	Director	2023-10-18	Sep 1964	Danish

Show 90 resigned officers

Name	Role	Appointed	Resigned
GRICE, John	Secretary	—	1993-08-31
HERGA, Robert David	Secretary	2007-05-01	2009-04-22
HUI, Carol	Secretary	2009-04-22	2010-08-31
ROWSON, Rachel	Secretary	1993-09-01	2007-05-01
WILLIAMS HAMER, Gabrielle Mary	Secretary	1997-02-17	1997-08-28
AGIUS, Marcus Ambrose Paul	Director	1995-08-01	2006-12-20
ANG, Eng Seng	Director	2006-06-26	2009-07-31
ANNETTS, Christopher John	Director	2021-09-01	2024-04-30
ASHTON, Hubert Gaitskell	Director	—	1993-07-19
AYUSO GARCIA, Joaquin	Director	2006-06-26	2007-09-13
BALDWIN, Stuart Harvey	Director	2006-11-24	2008-09-18
BALL, Anthony Frank Elliott	Director	2004-06-01	2006-06-26
BALLENTINE, Ian Crawford	Director	2013-12-10	2017-01-01
BARRELL, Anthony Charles, Dr	Director	1994-08-01	2001-07-31
BARRETT, Pier De Stavola	Director	2024-04-30	2024-04-30
BEJAR OCHOA, Juan	Director	2006-06-26	2007-05-10
BIRRELL, William Stuart	Director	2015-07-01	2020-03-17
BOIVIN, Normand	Director	2011-08-29	2017-10-03
BOYD, James Edward	Director	—	1994-02-24
BROWN, Michael William Tuke	Director	2009-07-31	2010-03-09
CASSIDY, Denis Patrick	Director	—	1993-08-13
CLARE, Mark Sydney	Director	2001-11-01	2006-06-26
CLARK, Neil Derek	Director	2012-10-08	2015-03-31
CLASPER, Michael	Director	2001-08-01	2006-07-13
COLLIE, Brian Joseph	Director	1997-11-27	2005-03-31
COTE, Robert	Director	2006-06-26	2006-10-31
CULLEN, Nicholas John	Director	2010-03-09	2011-06-30
DEL PINO CALVO SOTELO, Rafael	Director	2006-12-20	2007-09-13
DOUGLAS, Anthony John	Director	2006-07-13	2007-07-19
DRINKWATER, John Muir, Sir	Director	—	1994-07-14
DROUIN, Richard Ross, Mr.	Director	2007-09-13	2008-09-18
EDINGTON, George Gordon	Director	1991-11-13	1999-04-30
EGAN, John Leopold, Sir	Director	—	1999-11-07
ELLIS, Nigel George	Director	—	1995-08-13
EVERITT, Richard Leslie	Director	—	2001-05-31
EWING, Margaret	Director	2002-07-01	2006-10-04
FAUCHER, Renaud	Director	2006-10-31	2008-09-18
FAY, Christopher Ernest, Dr	Director	1998-08-01	2006-06-26
GARTON, Christopher Charles	Director	2018-04-16	2021-08-31
GAUTHIER, Ghislain	Director	2006-06-26	2009-07-31
GIBSON, John Michael Barry	Director	1992-09-02	1997-07-18
GILTHORPE, Charlotte Emma	Director	2012-10-08	2024-04-26
GOODING, Valerie Frances	Director	1998-11-01	2004-07-31
GREEN, Colin Henry	Director	2001-08-01	2004-07-31
HARBORD, Clare Mary Petre	Director	2012-10-08	2017-01-01
HIFZI, Mine Ozkan	Director	2022-07-01	2026-03-25
HODGKINSON, Michael Stewart, Sir	Director	1992-01-13	2003-06-08
HOERNER, John	Director	1998-01-29	2004-01-28
HOLLAND KAYE, John William	Director	2009-07-31	2023-10-18
HUI, Carol	Director	2012-10-08	2021-08-31
JOHNSTON, David Ian	Director	2009-07-31	2009-09-21
KONG, Janis Carol	Director	2002-09-01	2006-03-01
LEO, Jose	Director	2009-07-31	2015-03-25
LEO, Jose	Director	2006-11-24	2008-09-18
LOPEZ SORIA, Fidel	Director	2012-10-08	2014-09-01
MACMILLAN, Andrew Hugh	Director	2017-01-01	2021-08-31
MAINE, Michael Peter	Director	—	1998-05-31
MATTHEWS, Colin Stephen	Director	2012-10-08	2014-06-30
MATTHEWS, Colin Stephen	Director	2008-04-01	2008-09-18
MATTHEWS, Colin Stephen	Director	2008-04-01	2008-09-18
MAXMIN, Hiram James, Dr	Director	1994-03-25	1997-07-18
MEIRAS, Inigo	Director	2007-05-10	2008-09-18
MIDDLETON, Peter	Director	1993-02-01	1995-03-23
MORGAN, Steven Robert	Director	2009-09-21	2012-10-31
MORGAN, Terence David	Director	2011-06-10	2013-11-01
NELSON, Stephen Keith James	Director	2006-04-01	2008-03-31
O'SULLIVAN, James Christopher	Director	2014-08-12	2014-12-31
O'SULLIVAN, James Christopher	Director	2012-10-08	2014-08-12
OSORIO ITURMENDI, Lucas	Director	2006-06-26	2006-11-24
PEREZ TREMPS, Jose Maria	Director	2006-06-26	2008-09-18
PERKINS, Alice Elizabeth	Director	2006-03-01	2006-06-26
PROVAN, Derek	Director	2017-10-03	2018-04-16
ROBERTS, Michael James	Director	1997-11-01	2001-12-31
RODFORD, Fiona Madeleine	Director	2012-10-08	2013-01-25
RUDD, Anthony Nigel Russell, Sir	Director	2007-09-13	2008-09-18
SANCHEZ SALMERON, Luis Angel	Director	2006-06-26	2009-07-31
SMITH, Norman Brian, Sir	Director	—	1998-07-09
STANNETT, Paula	Director	2013-01-28	2024-08-31
STEVENS, John, Lord	Director	2007-09-13	2008-09-18
STUART, James Keith, Sir	Director	—	1992-07-22
TALL, Macky	Director	2006-06-26	2007-09-13
TEMPLE, John Michael	Director	2006-03-01	2006-07-13
TOMS, Michael Rodney	Director	2002-02-01	2006-07-13
URQUHART, Lawrence Mcallister	Director	—	2002-03-31
UZIELLI, Michael Robin	Director	2015-06-09	2016-05-17
VILLEN JIMENEZ, Nicolas	Director	2006-06-26	2008-09-18
WALKER, Robert Malcolm	Director	2004-05-01	2005-01-31
WALLS, John Russell Fotheringham	Director	1995-06-12	2002-08-31
WARD, Tony	Director	1999-11-01	2006-07-13
WRIGHT, Patrick Richard Henry, Lord Wright Of Richmond	Director	1992-08-01	1998-07-09

Ownership

Persons with significant control

Name	Kind	Nature of control	Notified	Status
Heathrow Airport Holdings Limited	Corporate entity	Shares 75–100%, Voting 75–100%, Appoints directors	2016-04-06	Active

Filing timeline

Last 20 of 1669 total filings

Date	Type	Category	Description
2026-03-26	TM01	officers	Termination director company with name termination date	PDF
2025-11-11	PSC05	persons-with-significant-control	Change to a person with significant control	PDF
2025-11-03	RESOLUTIONS	resolution	Resolution
2025-10-30	SH01	capital	Capital allotment shares	PDF
2025-07-10	CS01	confirmation-statement	Confirmation statement with no updates	PDF
2025-06-26	MR04	mortgage	Mortgage satisfy charge full	PDF
2025-06-19	AA	accounts	Accounts with accounts type full
2025-01-28	CH01	officers	Change person director company with change date	PDF
2025-01-28	AP01	officers	Appoint person director company with name date	PDF
2024-10-17	AP01	officers	Appoint person director company with name date	PDF
2024-09-02	TM01	officers	Termination director company with name termination date	PDF
2024-08-19	AA	accounts	Accounts with accounts type full
2024-07-23	CS01	confirmation-statement	Confirmation statement with no updates	PDF
2024-05-01	TM01	officers	Termination director company with name termination date	PDF
2024-04-30	AP01	officers	Appoint person director company with name date	PDF
2024-04-30	TM01	officers	Termination director company with name termination date	PDF
2024-04-30	TM01	officers	Termination director company with name termination date	PDF
2024-01-30	CH01	officers	Change person director company with change date	PDF
2023-10-18	CH01	officers	Change person director company with change date	PDF
2023-10-18	AP01	officers	Appoint person director company with name date	PDF

Public-record activity

Raw counts from Companies House — last 12–24 months

Filings: 7
Capital events: 1
Officers appointed: 0
Officers resigned: 1

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

Year-on-year

FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31

Turnover

-30.8%

£13,000,000 £9,000,000
Cash

-50%

£18,000,000 £9,000,000
Net assets

-77.4%

£11,852,000,000 £2,678,000,000
Employees

0%

23 23
Operating profit

+100.6%

-£701,000,000 £4,000,000
Profit before tax

-65%

£748,000,000 £262,000,000
Wages

-44.4%

£9,000,000 £5,000,000

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

Official Companies House page