PULLMAN RAIL LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. PULLMAN RAIL LIMITED 2010-12-13 → present
2. PULLMAN DESIGN AND FABRICATION LIMITED 1999-07-19 → 2010-12-13
3. QUICKMOST LIMITED 1993-05-24 → 1999-07-19

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 Reduced Disclosure Framework

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company's Directors have, at the time of approving the financial statements, a reasonable expectation that the Company can continue in operational existence for the going concern period as set out in IAS I Presentation of Financial Statements i.e. at least 12 months from the date of these financial statements. The Directors have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that, taking account of severe but plausible downsides, the Company will have sufficient funds, through funding from its immediate parent, Transport for Wales, to meet its liabilities as they fall due for that period. Those forecasts are dependent on the Company's immediate parent, Transport for Wales, not seeking repayment of the amounts currently due to it, which at 31 March 2025 amounted to £6.9m. Transport for Wales has indicated that it does not intend to seek repayment of these amounts for the period covered by the forecasts. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. Therefore, the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.”

Significant events

• “On 11 July 2025, the Company sold its land and buildings to its immediate parent company, TfW, for a total consideration of £6,000,000. The property has been leased by TfW to the Company. This is currently under a tenancy at will while a formal lease is being finalised.”
• “On 11 July 2025, the Company made a principal loan repayment to its immediate parent company, TfW, totalling £4,000,000.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

3

last 12 months

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

• Turnover

  -12%

  £33,581,000 → £29,564,000

• Cash

  —

  Not reported

• Net assets

  -88.8%

  £4,540,000 → £510,000

• Employees

  -8%

  224 → 206

• Operating profit

  -1,247.6%

  £252,000 → -£2,892,000

• Profit before tax

  -787.2%

  -£382,000 → -£3,389,000

• Wages

  -2.5%

  £8,643,000 → £8,430,000

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