M40 TRAINS LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-01-06 (in 8mo)
Last made up 2025-12-23
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
£82M
+4.3% vs 2023
Employees
0
Average over period
Profit before tax
£4M
+16.5% vs 2023
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £4,952,000 | £4,914,000 | |
| Operating profit | £2,256,000 | £2,487,000 | |
| Profit before tax | £3,729,000 | £4,343,000 | |
| Net profit | £2,893,000 | £3,393,000 | |
| Cash | — | — | |
| Total assets less current liabilities | £86,258,000 | £89,551,000 | |
| Net assets | £78,318,000 | £81,711,000 | |
| Equity | £78,318,000 | £81,711,000 | |
| Average employees | 0 | 0 | |
| Wages | — | — |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 45.6% | 50.6% | |
| Net margin | 58.4% | 69.0% | |
| Return on capital employed | 2.6% | 2.8% | |
| Current ratio | 31.32x | 20.94x | |
| Interest cover | 86.77x | 95.65x |
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 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have prepared the financial statements on a going concern basis as the cash pool agreement states that the company will have full and immediate access to its pooled cash balances with ATCO to settle its liabilities as they fall due. The company will also continue to operate for the foreseeable future.”
Group structure
- M40 TRAINS LIMITED · parent
- The Chiltern Railway Company Limited 100%
Significant events
- “On 19 October 2023, Deutsche Bahn AG (DB) announced an agreement had been signed under which Arriva Limited, the company's intermediate parent company, would be sold to I Squared Capital. This transaction completed on 31 May 2024. Following this, the company is no longer part of the DB group.”
- “The company previously participated in a group cash pooling arrangement operated by DB and on 3 May 2024 withdrew from this arrangement in preparation for the sale of the group. Upon withdrawal, the entire cash pool balance was transferred to a new cash pooling arrangement with a fellow group undertaking, Arriva Treasury Company Limited (ATCO).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 42 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| FURLONG, Amanda | Director | 2012-01-01 | May 1975 | British |
| SCOTT, Alexis James | Director | 2017-03-03 | Mar 1983 | British |
| TAYLOR, Jonathan James | Director | 2021-10-14 | Jul 1977 | British |
Show 42 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BECKETT, Mark Andrew | Secretary | 1996-07-21 | 1999-03-09 |
| DAVIES, William Giles Russell | Secretary | 2008-03-31 | 2014-04-01 |
| EDWARDS, Lorna | Secretary | 2014-04-01 | 2020-06-12 |
| FEATHERSTONE, Derek William | Secretary | 1999-03-09 | 1999-11-01 |
| MILLER, Roger Keith | Secretary | 2007-03-23 | 2008-03-31 |
| MILLER, Roger Keith | Secretary | 1999-11-01 | 2002-04-12 |
| SHELL, Peter Geoffrey | Secretary | 2002-04-12 | 2007-03-23 |
| MITRE SECRETARIES LIMITED | Corporate Nominee Secretary | 1994-12-23 | 1999-08-24 |
| ALEXANDER, Mark Charles Hugh Orkell | Director | 2004-03-15 | 2006-07-27 |
| ALLAN, Richard Graham | Director | 2020-10-05 | 2021-10-14 |
| ALLEN, Anthony Douglas | Director | 1995-03-31 | 2012-08-26 |
| BECKETT, Mark | Director | 1999-03-09 | 2006-10-16 |
| BRIGHOUSE, Robert William | Director | 2006-07-27 | 2015-12-18 |
| CHANEY, Alan Robert | Director | 1996-07-21 | 2008-02-26 |
| DAVIES, William Giles Russell | Director | 2002-09-12 | 2005-02-10 |
| DJAZIRIAN, Christoph | Director | 2008-04-16 | 2010-12-31 |
| EDGINGTON, Owen Ernest | Director | 1995-03-31 | 1999-03-09 |
| EWER, Adrian James Henry | Director | 1999-03-09 | 2000-07-03 |
| FRIEND, Andrew Erskine | Director | 2000-04-01 | 2006-07-27 |
| HEWITT, Mary Elisabeth Courtney | Director | 2020-01-01 | 2020-10-05 |
| HOLLAND, Robert William | Director | 2012-01-01 | 2013-01-01 |
| HOMBURG, Ulrich | Director | 2008-03-31 | 2009-09-10 |
| JAMES, Caroline Lindsay | Director | 1995-03-31 | 1996-03-19 |
| JOHNSON, Richard Aubrey | Director | 2019-07-15 | 2021-10-14 |
| MEDLICOTT, Michael Geoffrey | Director | 2006-07-27 | 2008-01-21 |
| MORRIS, James Richard Samuel, Sir | Director | 1995-11-07 | 2003-04-07 |
| MURPHY, Stephen John | Director | 2008-03-31 | 2014-03-24 |
| NAGEL, Karsten | Director | 2008-03-31 | 2010-12-31 |
| NELSON, John Graeme | Director | 1998-07-02 | 2006-07-27 |
| PENNEY, David James | Director | 2015-11-25 | 2019-12-31 |
| POTTS, Derek | Director | 2002-03-28 | 2006-07-27 |
| PROCTOR, Catherine Edwina | Director | 2006-07-27 | 2007-07-31 |
| PROCTOR, Steven | Director | 2007-07-09 | 2008-03-31 |
| REEVES, Barbara | Nominee Director | 1994-12-23 | 1995-03-31 |
| RIMMER, Duncan Thomas | Director | 2012-05-21 | 2016-10-04 |
| RUDHART, Manfred, Dr | Director | 2008-03-31 | 2010-12-31 |
| SENNHENN, Frank | Director | 2008-03-31 | 2010-12-31 |
| SHOOTER, Adrian | Director | 1995-03-31 | 2011-12-19 |
| THATER, Dirk | Director | 2008-03-31 | 2010-12-31 |
| TURNER, Alexander Mckenzie | Director | 1995-03-31 | 1999-03-09 |
| WELLS, Ian Joseph | Director | 2000-04-01 | 2003-12-30 |
| WINDMILL, Robert John | Nominee Director | 1994-12-23 | 1995-03-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Arriva Trains Holdings Limited | Corporate entity | Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 235 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-14 | MA | incorporation | Memorandum articles | |
| 2025-10-10 | RESOLUTIONS | resolution | Resolution | |
| 2025-10-03 | AA | accounts | Accounts with accounts type full | |
| 2025-10-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-23 | AA | accounts | Accounts with accounts type full | |
| 2024-01-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-28 | AA | accounts | Accounts with accounts type full | |
| 2023-06-15 | AA | accounts | Accounts with accounts type full | |
| 2022-12-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-01-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-10-20 | TM01 | officers | Termination director company with name termination date | |
| 2021-10-19 | TM01 | officers | Termination director company with name termination date | |
| 2021-10-18 | AP01 | officers | Appoint person director company with name date | |
| 2021-10-12 | AA | accounts | Accounts with accounts type full | |
| 2021-01-12 | AA | accounts | Accounts with accounts type full | |
| 2020-12-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-10-06 | AP01 | officers | Appoint person director company with name date | |
| 2020-10-05 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-0.8%
£4,952,000 £4,914,000
-
Cash
—
Not reported
-
Net assets
+4.3%
£78,318,000 £81,711,000
-
Employees
—
Not reported
-
Operating profit
+10.2%
£2,256,000 £2,487,000
-
Profit before tax
+16.5%
£3,729,000 £4,343,000
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