MIDLAND EXPRESSWAY LIMITED

1. MIDLAND EXPRESSWAY LIMITED 1990-11-19 → present
2. SPIRESHOT LIMITED 1988-10-27 → 1990-11-19

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 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Based on the above, and the enquiries made by the directors, the financial results have been prepared on a going-concern basis, which assumes that company will be able to meet its liabilities as and when they fall due for the foreseeable future.”

Significant events

• “Traffic on the M6toll decreased year on year by 6.2% in 2024 to 16.6 million vehicles (2023: 17.7 million) reflecting an Annual Average Daily Traffic of 45,287 vehicles (2023: 48,463).”
• “2024 traffic has been impacted by an improvement in the level of service on the parallel competing section of the M6 alongside a deterioration in level of service on the M42 section south of the M6toll. Significant works being carried out on the M42 utilising narrow lanes and speed restrictions has had a negative impact on travel through the corridor and traffic volumes. In Q4 2024, some of the works were completed, but disruption remained with HS2 works beginning in June 2024.”
• “Total operating income increased to £139,500,000 (2023: £134,937,000) due to higher toll revenues derived from price changes in the year and favourable class mixes against 2023.”
• “Operating costs (cost of sales, staff costs and other operating expenses) increased to £16,286,000 (2023 restated*: £14,684,000), primarily driven by an increase in total staff costs.”
• “Capital expenditure in the year decreased to £6,513,000 (2023: £8,177,000). Investment reflected ongoing maintenance and enhancement to the road as part of the whole life capital expenditure programme, with the largest expenditure related to the continued investment in the RoadAhead transformation programme, which was completed in the year. The project implemented a new tolling system supported by ANPR technology and delivers an improved customer experience.”
• “The company has transitioned from FRS 102 to Financial Reporting Standard 101, Reduced Disclosure Framework ('FRS 101') for the financial year ending 31 December 2024.”

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

  +3.3%

  £134,910,000 → £139,348,000

• Cash

  -90.6%

  £13,548,000 → £1,279,000

• Net assets

  +14.5%

  -£220,005,000 → -£188,149,000

• Employees

  -3.6%

  137 → 132

• Operating profit

  +0.5%

  £104,427,000 → £104,958,000

• Profit before tax

  +13.1%

  £29,719,000 → £33,611,000

• Wages

  +18.5%

  £5,808,000 → £6,882,000

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