RAIL CAPITAL MARKETS PLC
Get an alert when RAIL CAPITAL MARKETS PLC files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Next accounts due
2026-06-30 (in 1mo)
Last filed for 2024-12-31
Confirmation statement due
2026-10-25 (in 5mo)
Last made up 2025-10-11
Watchouts
Cash
£19K
+19.7% vs 2023
Net assets
-£559M
-0.6% vs 2023
Employees
0
Average over period
Profit before tax
-£448K
-119.5% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
There is a material uncertainty regarding the future performance of the Borrower, due to the adverse financial impact of the ongoing military conflict. This uncertainty raises significant doubt about the Borrower's ability to meet its continuing obligations.
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 | — | — | |
| Operating profit | -£694,563 | -£3,658,391 | |
| Profit before tax | £2,292,025 | -£447,764 | |
| Net profit | -£545,545 | -£3,285,334 | |
| Cash | £15,764 | £18,869 | |
| Total assets less current liabilities | £119,189,173 | £112,311,220 | |
| Net assets | -£556,006,455 | -£559,291,789 | |
| Equity | -£556,006,455 | -£559,291,789 | |
| 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 |
|---|---|---|---|
| Return on capital employed | -0.6% | -3.3% | |
| Gearing (liabilities / total assets) | 370.0% | 312.4% | |
| Current ratio | 1.00x | 0.98x | |
| Interest cover | -0.01x | -0.06x |
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
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- UHY Hacker Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“There is a material uncertainty regarding the future performance of the Borrower, due to the adverse financial impact of the ongoing military conflict. This uncertainty raises significant doubt about the Borrower's ability to meet its continuing obligations.”
Significant events
- “On 9 January 2025, the principal amount of US$594,902,000 8.250% loan participation notes was increased to U.S.$703,183,460 following the Borrower's decision to capitalise deferred interest under the loan agreement, with maturity dates in 2026.”
- “On 15 January 2025, the principal amount of the US$300,000,000 7.875% loan participation notes was increased to U.S.$351,901,172 following the Borrower's decision to capitalise deferred interest under the loan agreement, with maturity dates in 2028.”
- “This is as a result of the capitalization of coupon payments amounting to USD 108,281,460 and USD 51,901,172, accrued from July 2022 to December 2024, completed by the Borrower on the same dates.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| TMF CORPORATE ADMINISTRATION SERVICES LIMITED | Corporate Secretary | 2018-10-12 | — | — |
| FIELDING, Benjamin | Director | 2022-10-04 | Nov 1980 | British |
| JOINT CORPORATE SERVICES LIMITED | Corporate Director | 2018-10-12 | — | — |
| TMF CORPORATE DIRECTORS LIMITED | Corporate Director | 2018-10-12 | — | — |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CHESHIRE, Vincent | Director | 2020-03-31 | 2022-10-04 |
| NORTON, Stephen William Spencer | Director | 2018-10-12 | 2020-03-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tmf Trustee Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-10-12 | Active |
Filing timeline
Last 20 of 37 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-07 | AA | accounts | Accounts with accounts type full | |
| 2024-10-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-04 | AA | accounts | Accounts with accounts type full | |
| 2023-10-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-03 | AA | accounts | Accounts with accounts type full | |
| 2023-09-25 | CH02 | officers | Change corporate director company with change date | |
| 2023-09-25 | CH02 | officers | Change corporate director company with change date | |
| 2023-09-25 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-09-25 | CH04 | officers | Change corporate secretary company with change date | |
| 2023-07-24 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-01-09 | CH01 | officers | Change person director company with change date | |
| 2022-12-16 | AA | accounts | Accounts with accounts type full | |
| 2022-10-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-12 | TM01 | officers | Termination director company with name termination date | |
| 2022-10-12 | AP01 | officers | Appoint person director company with name date | |
| 2021-10-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-10-07 | AA | accounts | Accounts with accounts type full | |
| 2021-07-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2020-11-11 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- 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
—
Not reported
-
Cash
+19.7%
£15,764 £18,869
-
Net assets
-0.6%
-£556,006,455 -£559,291,789
-
Employees
—
Not reported
-
Operating profit
-426.7%
-£694,563 -£3,658,391
-
Profit before tax
-119.5%
£2,292,025 -£447,764
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