ROCK RAIL EAST ANGLIA PLC

1. ROCK RAIL EAST ANGLIA PLC 2016-09-19 → present
2. FLUTECOVE PLC 2016-09-06 → 2016-09-19

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 102

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on the going concern basis which the Directors consider appropriate after review of cash flow forecasts for a period of at least 12 months from the date of signing these financial statements, taking account of reasonably possible downsides, and for the reasons outlined below. The Directors have reviewed the Company's operations and assessed the Company's ability to continue as a going concern and are satisfied that the Company has the resources available to continue in operation for at least 12 months from the date of approval of these financial statements. The Company made a loss of £8,039k (2023: £7,518k), has net liabilities of £32,011k (2023: £23,972k), net current assets of £31,556k (2023: £31,875k) and cash balances of £55,271k (2023: £66,459k). The Company's full fleet of trains is on lease with Transport UK East Anglia Limited ("Greater Anglia") until October 2025 with Greater Anglia having an option (but with no legal commitment) to extend for up to 52 weeks. This lease is currently the Company's only source of revenue. The UK Government has announced that Greater Anglia's National Rail Contract will end in autumn 2025 in line with its policy of bringing train operating companies into public ownership. The Directors expect that at the time of this transition a publicly owned operator will step into the lease and exercise the extension right described above so that the lease would end in October 2026. This step in will allow the Department for Transport to discharge its statutory obligation to provide passenger railway services on the East Anglia network under Section 30 of the Railways Act 1993 where the franchise agreement in respect of the services is terminated or otherwise comes to an end so the need and requirement for trains to operate the services on the East Anglia network is absolute. The Directors performed an analysis of re-leasing prospects based on current and expected market conditions of UK rail network and as a result believe that there is no existing surplus of rolling stock which could replace the Company's trains due to their young age, capacity, cost-efficiency of operating and lower environmental impact and that sourcing comparable new alternatives would not be possible by the end of the current lease due to long lead times. Based on the analysis performed the Directors also believe that a rental will be achieved that will allow the Company to meet its obligations. In the highly unlikely event when the lease is not transferred to the publicly owned operator, the Directors consider the Company is well positioned to manage this risk and to have enough time to find an alternative lessee due to the Company's cash balance of £55,271k. Consequently, the Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

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

Filings

3

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

  0%

  £35,531,000 → £35,531,000

• Cash

  -16.8%

  £66,459,000 → £55,271,000

• Net assets

  -33.5%

  -£23,972,000 → -£32,011,000

• Employees

  —

  Not reported

• Operating profit

  +0.1%

  £15,090,000 → £15,104,000

• Profit before tax

  -9.1%

  -£8,237,000 → -£8,983,000

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