GREAT RAIL JOURNEYS 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 102

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been approved on the assumption that the Company remains a going concern. The following paragraphs summarise the issues and basis on which the Directors have reached their conclusion. The Company is a member of the Group headed by the Bucharest Topco Limited. The Directors have assessed the going concern of the Group and the Company for the upcoming 2025 and beyond and have prepared a detailed budget which considers the impact of cost of living, inflation, interest rates, the global travel environment and customer behaviour. The Directors have also evaluated downside scenarios and have tested the going concern assumption against these as part of their assessment. As a result, the Directors consider the going concern basis to be appropriate based on the outturn of these projections, recent post year end trading and access to working capital facilities throughout the period. The Company is subject to regulation by the Civil Aviation Authority (the "CAA") who each year review the financial position and performance of the Company in issuing the annual Air Travel Organisers' Licence which is effective from 1 April 2025 to 31 March 2026. At the time of signing, the Company are in receipt of an offer letter from the CAA and expect all conditions to be met to successfully renew. The wider Group has considerable financial resources and is expected to generate positive cashflows for the foreseeable future. As a result, the Directors have a reasonable expectation that the Group and the Company have adequate resources to continue in operational existence for the foreseeable future. Accordingly they have adopted the going concern basis in preparing the financial statements.”

Group structure

1. GREAT RAIL JOURNEYS LIMITED · parent
   1. GRJ (Transport) Limited 100% · England and Wales · provision of transport arrangements for Great Rail Journeys Limited.

Significant events

• “during the year, a new luxury independent range of tours went on sale for the 2025 financial year.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

2

last 12 months

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

• Turnover

  +32%

  £83,977,000 → £110,811,000

• Cash

  +4.9%

  £10,023,000 → £10,518,000

• Net assets

  +27.6%

  £23,004,000 → £29,343,000

• Employees

  +11.9%

  118 → 132

• Operating profit

  +1,803.9%

  £386,000 → £7,349,000

• Profit before tax

  +317%

  £1,709,000 → £7,127,000

• Wages

  +12.1%

  £4,693,000 → £5,260,000

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