MIDLAND RAILWAY ENTERPRISES PLC

• ⚠

  Material uncertainty over going concern

  The Directors believe that it remains appropriate to prepare the financial statements on a going concern basis. However, these circumstances represent a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

• ◆

  Audit opinion: Disclaimer of opinion

  Latest auditor's report carried a non-clean opinion.

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

Standalone (parent only)

Auditor

Mabe Allen LLP

Audit opinion

Disclaimer of opinion

Going concern

Material uncertainty disclosed

“The Directors believe that it remains appropriate to prepare the financial statements on a going concern basis. However, these circumstances represent a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.”

Significant events

• “During the period covered by this report, the company continued to trade in increasingly challenging commercial times.”
• “Activities are being expanded with Tea Trains and other features to leverage the most from what the railway can offer.”
• “Although it is apparent that the challenges experienced over the last few years such as inflation, leading to significant reduction in disposable income will continue through the coming year.”
• “The impact following the cost of living crisis caused disruption and created uncertainty around the business, not least with regard to its working capital and the ability of its customers to pay now and into the future, and whether it needs to impair its assets.”

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

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +11%

  £75,665 → £83,973

• Cash

  +52.7%

  £41,977 → £64,097

• Net assets

  +80.3%

  -£32,728 → -£6,463

• Employees

  —

  Not reported

• Operating profit

  +150.4%

  -£28,961 → £14,610

• Profit before tax

  +150.5%

  -£28,961 → £14,634

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers