The Go-Ahead Group Limited

Private Limited Company · Newcastle Upon Tyne

ActiveUnited KingdomIncorporated 1987Private Limited Company

Financial position

Accounts to 2025-12-31 · GBP · Group accounts

Net assets

£152,600,000

Cash

£181,900,000

Turnover

£3,797,300,000

Profit / loss

£12,500,000

Current assets

£808,100,000

Creditors < 1 year

£1,457,500,000

Equity

£152,600,000

Average employees

Not available

Balance-sheet trend

GBP · consolidated

Financial statements

Selected figures from the best-ranked available filing for each period. Missing values remain unknown.

2 periods

Some figures were read by AI from scanned accounts, so small errors are possible. View the filed accounts

Reported figures	2025-12-31Group · AI-read	2024-12-31Group · AI-read
Balance sheet
Net assets	£152,600,000	—
Equity	£152,600,000	—
Share capital	£75,200,000	—
Retained earnings	£112,900,000	—
Assets
Fixed assets	£1,245,500,000	—
Property, plant & equipment	£822,600,000	—
Current assets	£808,100,000	—
Cash at bank	£181,900,000	—
Debtors	£468,200,000	—
Stock	£27,600,000	—
Liabilities
Creditors	£1,907,500,000	—
Creditors within one year	£1,457,500,000	—
Creditors after one year	£450,000,000	—
Profit & loss
Turnover	£3,797,300,000	£3,538,600,000
Operating profit	£111,600,000	£56,100,000
Interest receivable	£6,900,000	£4,900,000
Interest payable	£76,400,000	£64,600,000
Profit before tax	£40,700,000	−£6,000,000
Tax	£11,000,000	£22,200,000
Profit / loss	£12,500,000	£19,500,000
Operating costs
Depreciation	£109,300,000	—
Cash flow
Cash from operations	£228,600,000	—
Capital expenditure	£248,100,000	—
Source evidence	View filing	View filing

From the accounts

What the accounts for 2025-12-31 say about themselves, read by AI from the scanned filing.

Auditor: MHA
Audit opinion: Clean (unmodified)
Immediate parent: Go-Ahead Investment Bidco Limited
Ultimate parent: Go-Ahead Investment Topco Limited
Accounts: Full accounts · IFRS
Approved: 2026-08-28, signed by Michael Sewards

Turnover by segment (7)

Passenger revenue: 2,192.5 (m) (2025-12-31)
Contract revenue: 1,372.0 (m) (2025-12-31)
Franchise subsidy: 11.9 (m) (2025-12-31)
Other revenue: 220.9 (m) (2025-12-31)
Revenue from bus operations: 1,635.6 (m) (2025-12-31)
Revenue from rail operations: 2,161.8 (m) (2025-12-31)
Revenue from rail replacement services: (0.1) (m) (2025-12-31)

Related parties (3)

Govia Limited · 65% owned · Amounts owed from related party · 4.7 (m)
Govia Thameslink Railway Limited (GTR) · 100% owned by Govia Limited · Management charges · 3.9 (m)
Govia Thameslink Railway Limited (GTR) · 100% owned by Govia Limited · Amounts owed from related party · 0.2 (m)

Borrowings (3)

Go North West Asset Co facility – £50.0m · 39.5 (m) · 6.81% · 1–2 years
Go-Ahead Sweden loans · 19.3 (m) · 4.24 · 0–9 years
Trossö Buss loan · 1.6 (m) · 5.00 · 0–7 years

Share classes (1)

47.1 million ordinary shares of 10p

Events after the year end (3)

On 30 April 2026, the Group’s immediate parent company, Bidco, executed and completed a refinancing of its existing debt facilities.
On 31 May 2026, the Group ceased to operate the National Rail Contract (NRC) of Govia Thameslink Railway Limited following renationalisation by the UK Government.
Subsequent to the year end, the directors recommended an interim dividend of £20.0m, which was paid on 17 April 2026.

Contingent liabilities (2)

The Company provides guarantees in respect of bank and equipment finance borrowings of its subsidiaries.
At 31 December 2025 letters of credit amounting to £51.3m were provided by bank, guaranteed by the Company’s immediate parent company, Go-Ahead Investment Bidco Limited, in favour of the Group’s insurers, to cover liabilities of the Company and its subsidiaries.

Secured borrowing

Registered charges, lenders and security interests.

Charges and related records

1 outstanding charges

National Westminster Bank PLC (As Security Agent (As Defined In The Instrument Uploaded With Th

Floating · created 2026-04-22

—

Outstanding

Show 23 satisfied / released

National Westminster Bank PLC

Property · created 2024-03-22 · satisfied 2026-05-05

—

Satisfied

National Westminster Bank PLC

Floating · created 2023-07-18 · satisfied 2026-05-05

—

Satisfied

Tate & Lyle Industries Limited

Unknown · created 2007-10-29 · satisfied 2010-03-30

Â£21,664.94 AND ALL OTHER MONIES DUE OR TO BECOME D UE

Satisfied

London Regional Transport

Property · created 2002-11-06 · satisfied 2005-07-23

All monies

Satisfied

The Royal Bank Of Scotland PLC

Floating · created 1998-11-12 · satisfied 2001-09-01

ALL PRESENT AND FUTURE OBLIGATIONS AND L IABILITIES (WHETHER ACTUAL OR CONTINGENT AND WHETHER OWED JOINTLY OR SEVERALLY O R IN ANY OTHER CAPACITY WHATSOEVER) OF E ACH CHARGOR TO ANY FINANCE PARTY UNDER T HE FINANCE DOCUMENTS (AS DEFINED)

Satisfied

The Royal Bank Of Scotland PLC

All Assets · created 1997-02-03 · satisfied 2007-04-26

All monies

Satisfied

Hill Samuel Bank Limited

Unknown · created 1996-10-13 · satisfied 1997-02-08

All monies

Satisfied

Hill Samuel Bank Limited

Unknown · created 1996-09-18 · satisfied 1997-02-08

All monies