GREATER MANCHESTER BUSES SOUTH LIMITED

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

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“These financial statements have been prepared on a going concern basis. In applying the going concern basis, the Directors have taken into account the recent trading performance of the Company. The Company is in a net current liabilities and net assets position as at 03 May 2025.”

Significant events

• “Since March 2024, the Company operates predominantly franchised services under contract to Transport for Greater Manchester ("TfGM").”
• “The Bus Fare Cap Scheme, which launched in January 2023, has proven successful in driving an increase in bus patronage, particularly from existing bus users. Initially capping fares at £2, the scheme increased to a £3 cap from January 2025 and will run until March 2027.”
• “The Stagecoach Group Pension scheme is a defined benefit scheme... The Main Section of the scheme (in which the Company participates) closed to future accrual in April 2017.”
• “On 07 March 2025, the remaining active members agreed to cease participation and accept alternative arrangements in the SPS from 08 March 2025. Following the exit from the LGPS on 07 March 2025, the value of the fund on the balance sheet was remeasured with fund exit calculations that have been received from the GMPF administering authority of the amount payable by the Company at that date, a deficit of £0.457m. A charge of £20.6m was taken to the statement of comprehensive income.”

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

  +19.4%

  £157,647,000 → £188,301,000

• Cash

  -45.6%

  £1,234,000 → £671,000

• Net assets

  -42.6%

  £80,063,000 → £45,994,000

• Employees

  +20.6%

  2,132 → 2,572

• Operating profit

  +6.3%

  £24,746,000 → £26,314,000

• Profit before tax

  -19.7%

  £41,450,000 → £33,266,000

• Wages

  +34.8%

  £70,721,000 → £95,361,000

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