HEATHROW AIRPORT LIMITED
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Next accounts due
2027-09-30 (in 1y)
Last filed for 2025-12-31
Confirmation statement due
2026-07-07 (in 2mo)
Last made up 2025-06-23
Watchouts
None on the register
Cash
£1B
-28.5% vs 2024
Net assets
£2B
+15.7% vs 2024
Employees
7,769
-2.9% vs 2024
Profit before tax
£621M
-24.9% vs 2024
Name history
Renamed 1 time since incorporation
- HEATHROW AIRPORT LIMITED 1986-07-14 → present
- PRECIS (493) LIMITED 1986-02-19 → 1986-07-14
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Turnover | £3,482,000,000 | £3,547,000,000 | |
| Operating profit | £1,270,000,000 | £1,228,000,000 | |
| Profit before tax | £827,000,000 | £621,000,000 | |
| Net profit | £690,000,000 | £315,000,000 | |
| Cash | £1,558,000,000 | £1,114,000,000 | |
| Total assets less current liabilities | £19,558,000,000 | £19,275,000,000 | |
| Net assets | £2,137,000,000 | £2,473,000,000 | |
| Equity | £2,137,000,000 | £2,473,000,000 | |
| Average employees | 7,998 | 7,769 | |
| Wages | £389,000,000 | £405,000,000 |
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 | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Operating margin | 36.5% | 34.6% | |
| Net margin | 19.8% | 8.9% | |
| Return on capital employed | 6.5% | 6.4% | |
| Gearing (liabilities / total assets) | 90.0% | 88.4% | |
| Current ratio | 1.28x | 0.82x | |
| Interest cover | 1.43x | 1.24x |
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 a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”
Group structure
- HEATHROW AIRPORT LIMITED · parent
- Heathrow Express Operating Company Limited 100%
Significant events
- “On 23 January 2026, the Company extended its existing revolving credit facility of £1,386 million by 2 years to 30 September 2029”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 72 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 72 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| LEWIS, Maria Bernadette | Secretary | 1997-09-16 | 2005-11-03 |
| LOTT, Peter John | Secretary | 1995-02-27 | 1995-06-15 |
| OOI, Shu Mei | Secretary | 2008-11-28 | 2010-08-31 |
| ROWSON, Rachel | Secretary | 2005-11-03 | 2006-06-01 |
| ROWSON, Rachel | Secretary | — | 1995-12-15 |
| WELCH, Susan | Secretary | 2006-06-01 | 2008-11-28 |
| WILLIAMS HAMER, Gabrielle Mary | Secretary | 1995-12-15 | 1997-09-16 |
| ANNETTS, Christopher John | Director | 2021-09-01 | 2024-04-30 |
| AUGHWANE, Keith Ronald | Director | 2001-02-01 | 2004-02-01 |
| BALLENTINE, Ian Crawford | Director | 2013-12-10 | 2017-01-01 |
| BIRRELL, William Stuart | Director | 2015-07-01 | 2020-03-17 |
| BOIVIN, Normand | Director | 2011-08-29 | 2017-10-03 |
| BRADLEY, David | Director | 1998-07-20 | 2000-07-03 |
| BRADLEY, Jennifer Agnes | Director | 1995-02-09 | 2003-03-31 |
| BROWN, Michael William Tuke | Director | 2009-07-31 | 2010-03-09 |
| BULLOCK, Mark William | Director | 2007-01-19 | 2008-05-31 |
| CATO, Roger | Director | 1991-11-18 | 2001-10-08 |
| CLARK, Neil Derek | Director | 2012-10-08 | 2015-03-31 |
| CLASPER, Michael | Director | 2001-07-20 | 2006-07-13 |
| CULLEN, Nicholas John | Director | 2010-03-09 | 2011-06-30 |
| DOUGLAS, Anthony John | Director | 2006-03-01 | 2007-07-19 |
| DRYLAND, John Andrew | Director | 1995-02-09 | 2002-08-13 |
| EGAN, John Leopold, Sir | Director | — | 1999-11-07 |
| EWING, Margaret | Director | 2004-02-01 | 2006-10-04 |
| FOX, Paul | Director | 1995-02-09 | 2004-02-01 |
| GARTON, Christopher Charles | Director | 2018-04-16 | 2021-08-31 |
| GIBSON, John Michael Barry | Director | — | 1991-11-01 |
| GILTHORPE, Charlotte Emma | Director | 2012-10-08 | 2024-04-26 |
| HARBORD, Clare Mary Petre | Director | 2012-10-08 | 2017-01-01 |
| HARGRAVE, Colin | Director | 1997-08-26 | 1999-02-01 |
| HERGA, Robert David | Director | 1998-11-20 | 2009-07-31 |
| HIFZI, Mine Ozkan | Director | 2022-07-01 | 2026-03-25 |
| HILL, Andrew Hemming | Director | 1995-01-01 | 1998-01-01 |
| HODGKINSON, Michael Stewart, Sir | Director | 1992-02-25 | 2003-06-08 |
| HOLLAND KAYE, John William | Director | 2009-07-31 | 2023-10-18 |
| HOWARD, Katherine | Director | — | 1991-09-02 |
| HUI, Carol | Director | 2012-10-08 | 2021-08-31 |
| JOHNSTON, David Ian | Director | 2009-07-31 | 2009-09-21 |
| KNOWLES, James Robert | Director | 1991-11-18 | 1996-05-31 |
| KONG, Janis Carol | Director | 2001-10-08 | 2006-03-01 |
| LEO, Jose | Director | 2006-10-04 | 2015-03-25 |
| LONG, Jonathan David | Director | 1998-01-01 | 2004-02-01 |
| LOPEZ SORIA, Fidel | Director | 2012-10-08 | 2014-09-01 |
| MACMILLAN, Andrew Hugh | Director | 2017-01-01 | 2021-08-31 |
| MAINE, Michael Peter | Director | 1993-06-11 | 1998-05-31 |
| MATTHEWS, Colin Stephen | Director | 2012-10-08 | 2014-06-30 |
| MORGAN, Steven Robert | Director | 2009-07-31 | 2012-10-31 |
| MORGAN, Terence David | Director | 2011-06-10 | 2013-11-01 |
| MURPHY, Vernon Leslie | Director | 2001-07-26 | 2003-04-01 |
| NELSON, Stephen Keith James | Director | 2006-07-13 | 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 |
| PROVAN, Derek | Director | 2017-10-03 | 2018-04-16 |
| RAE, Gordon Edward | Director | 2001-05-14 | 2004-02-01 |
| RICHES, Mark Stephen | Director | 1999-02-01 | 2001-10-29 |
| ROBERTS, Michael James | Director | — | 1997-11-01 |
| RODFORD, Fiona Madeleine | Director | 2012-10-08 | 2013-01-25 |
| SANCHEZ SALMERON, Luis Angel | Director | 2007-09-21 | 2009-07-31 |
| SMITH, Eryl Martin | Director | 2002-08-13 | 2004-02-01 |
| SMITH, Eryl Martin | Director | 2002-01-01 | 2002-04-01 |
| STANNETT, Paula | Director | 2013-01-28 | 2024-08-31 |
| STENT, John Julian | Director | 2002-04-01 | 2003-08-31 |
| STENT, John Julian | Director | 1991-09-02 | 1997-06-30 |
| STEWART, Christine | Director | 1997-11-01 | 2003-04-01 |
| STEWART, Ian Mccutcheon | Director | 1992-02-25 | 1998-07-31 |
| TEMPLE, John Michael | Director | 1998-03-01 | 2006-11-20 |
| THOMAS, Alun Martin | Director | 2000-05-01 | 2001-06-02 |
| UZIELLI, Michael Robin | Director | 2015-06-09 | 2016-05-17 |
| WEST, Anthony John | Director | 1992-02-25 | 1997-08-01 |
| WILKINSON, Stephen | Director | 1997-08-01 | 2004-02-01 |
| WILLIAMS, David Henry | Director | 1996-01-31 | 1997-07-01 |
| WOODRUFF, Christopher Brian | Director | 2001-10-29 | 2004-02-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Heathrow (Ah) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 1275 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-11 RESOLUTIONS Resolution
- 2025-09-17 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-10 | AA | accounts | Accounts with accounts type full | |
| 2026-04-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-03-26 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-11 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2026-03-11 | SH20 | capital | Legacy | |
| 2026-03-11 | CAP-SS | insolvency | Legacy | |
| 2026-03-11 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-04 | SH01 | capital | Capital allotment shares | |
| 2025-12-18 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-09-17 | SH20 | capital | Legacy | |
| 2025-09-17 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-09-17 | CAP-SS | insolvency | Legacy | |
| 2025-09-17 | RESOLUTIONS | resolution | Resolution | |
| 2025-07-31 | SH01 | capital | Capital allotment shares | |
| 2025-06-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-04-15 | AA | accounts | Accounts with accounts type full | |
| 2025-03-06 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 18
- Capital events
- 7
- Officers appointed
- 0
- 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.
Year-on-year
FY2024 → FY2025 · period ending 2025-12-31 vs 2024-12-31
-
Turnover
+1.9%
£3,482,000,000 £3,547,000,000
-
Cash
-28.5%
£1,558,000,000 £1,114,000,000
-
Net assets
+15.7%
£2,137,000,000 £2,473,000,000
-
Employees
-2.9%
7,998 7,769
-
Operating profit
-3.3%
£1,270,000,000 £1,228,000,000
-
Profit before tax
-24.9%
£827,000,000 £621,000,000
-
Wages
+4.1%
£389,000,000 £405,000,000
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