BRITISH AIRWAYS PLC (01777777)
Full Review Report
BRITISH AIRWAYS PLC
Statutory Information
| Previous name(s): | None | |
|---|---|---|
| Registered Number: | 01777777 | |
| Incorporation Date: | 13/12/1983 | |
| Registered Office: | ||
| Latest Filed Accounts: | 31/03/2005 | |
| Date Accounts Lodged: | 24/08/2005 | |
| Analysed Accounts: | 31/03/2005 | |
| Accounts Ref. Date: | 31/03 | |
| Latest Annual Return: | 31/07/2005 | |
| Issued Capital ( GBP ): | 282,720,601 | |
| Company Status: | Quoted | |
| Type of Accounts: | Group |
Directory Information
| Trading Address: | - | ||
|---|---|---|---|
| Telephone Number: | 01870 602310 | ||
| Fax Number: | - | ||
| Region: | SOUTHERN SCOTLAND | ||
| Bankers: | NATIONWIDE | ||
| Auditors: | Ernst & Young LLP | ||
| Audit Opinion or Qualification: | The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/03/2005. | ||
| Principal Activities: | A group engaged in the operation of international & domestic scheduled & charter air services for carriage of passengers,freight and mail and the provision of ancilliary services. | ||
| UK SIC Code(s): |
| ||
Ownership
| Holding Company: | None |
|---|---|
| Ultimate Holding Company: | None |
Risk Information
| Risk Score | |||
|---|---|---|---|
| 31/03/2005 | 72 | Credit Limit (GBP): | 230,000,000 |
| 31/03/2004 | 59 | Contract Limit (GBP): | 2,140,000,000 |
| 31/03/2003 | 60 | ||
| 31/03/2002 | 65 | ||
| Scoring Key: | |
|---|---|
| 1 - 40 | Caution. High Risk Potential. |
| 41 - 50 | Caution. Moderate Risk Potential. Measured Exposure. |
| 51 - 57 | Normal. Limited Risk Potential. Normal Terms. |
| 58 - 100 | Confidence. Low Risk Potential. |
| The period to 31/03/2005 saw a slight increase in Sales from £7,560,000,000 to £7,813,000,000. Pre-Tax Profits increased from £230,000,000 to £415,000,000. The resultant Profit Margin of 5.31% (previous = 3.04%) compares favourably with the industry average of 1.64%. The company is performing better than at least 75% of the companies in this sector. Shareholders Funds increased from £2,187,000,000 to £2,465,000,000, whilst Total Assets decreased from £12,101,000,000 to £11,336,000,000. The resultant Gearing Ratio of 0.22 (Previous = 0.18) compares favourably with the industry average of 0.18. CCJ information has been linked to this company - please see the list. | |
| County Court Judgments: |
Number of exact unsatisfied CCJs: 1 Totalling: GBP2466.00 Number of probable unsatisfied CCJs: None Number of possible unsatisfied CCJs: None |
|---|---|
Summary of Mortgages, Charges and Satisfactions
| Total number of mortgages and charges: | 464 | Total number of outstanding charges: | 464 |
| Total number of fully satisfied charges: | 0 | Date of most recent mortgage: | 29/09/2005 |
| Details of Latest Five Mortgages, Charges and Satisfactions | ||||
| Charge Number: | 1 of 464 | Date Charge Registered: | 29/09/2005 | |
| Charge Type: | ASSIGNMENT OF INSURANCES - RBSSAF (8) LIMITED | Latest Form Type: | 395 | |
| Date Charge Created: | 18/10/2005 | |||
| Lender: | RBSSAF (8) LIMITED | |||
| Secured on: | ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE | |||
| Details: | ASSIGN ALL ITS RIGHT TITLE AND INTEREST IN RESPECT OF PROCEEDS ARISING UNDER ALL INSURANCES AND ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT SERIAL NUMBER 30312 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS | |||
| Charge Number: | 2 of 464 | Date Charge Registered: | 29/09/2005 | |
| Charge Type: | ASSIGNMENT OF INSURANCES - RBSSAF (8) LIMITED | Latest Form Type: | 395 | |
| Date Charge Created: | 18/10/2005 | |||
| Lender: | RBSSAF (8) LIMITED | |||
| Secured on: | ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE | |||
| Details: | ASSIGN ALL ITS RIGHT TITLE AND INTEREST IN RESPECT OF PROCEEDS ARISING UNDER ALL INSURANCES AND ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT SERIAL NUMBER 30302 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS | |||
| Charge Number: | 3 of 464 | Date Charge Registered: | 29/09/2005 | |
| Charge Type: | ASSIGNMENT OF INSURANCES - RBSSAF (8) LIMITED | Latest Form Type: | 395 | |
| Date Charge Created: | 18/10/2005 | |||
| Lender: | RBSSAF (8) LIMITED | |||
| Secured on: | ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE | |||
| Details: | ASSIGN ALL ITS RIGHT TITLE AND INTEREST IN RESPECT OF PROCEEDS ARISING UNDER ALL INSURANCES AND ANY REQUISITION COMPENSATION RELATING TO THE AIRCRAFT SERIAL NUMBER 29967 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS | |||
| Charge Number: | 4 of 464 | Date Charge Registered: | 23/02/2005 | |
| Charge Type: | ASSIGNMENT OF INSURANCES - MABLE COMMERCIAL FUNDING LIMITED | Latest Form Type: | 395 | |
| Date Charge Created: | 02/03/2005 | |||
| Lender: | MABLE COMMERCIAL FUNDING LIMITED | |||
| Secured on: | ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE | |||
| Details: | IT ASSIGNS ALL ITS RIGHT, TITLE AND INTEREST IN PROCEEDS ARISING UNDER ALL INSURANCES AND REQUISITION COMPENSATION. SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS | |||
| Charge Number: | 5 of 464 | Date Charge Registered: | 23/02/2005 | |
| Charge Type: | CHARGE - MABLE COMMERCIAL FUNDING LIMITED | Latest Form Type: | 395 | |
| Date Charge Created: | 02/03/2005 | |||
| Lender: | MABLE COMMERCIAL FUNDING LIMITED | |||
| Secured on: | ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE | |||
| Details: | ALL THE SECURED OBLIGATIONS AND THE RIGHT TITLE AND INTEREST IN ALL THE RIGHTS UNDER THE LEASE SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS | |||
Profit & Loss Account
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Audit Qual./Comment | No | No | No | No | No |
| Turnover [1] | 7,813,000 | 7,560,000 | 7,688,000 | 8,340,000 | 9,278,000 |
| Cost of Sales | 7,136,000 | 7,008,000 | 7,263,000 | 8,291,000 | 8,757,000 |
| Gross Profit | 677,000 | 552,000 | 425,000 | 49,000 | 521,000 |
| Operating Profit [2] | 582,000 | 398,000 | 341,000 | -12,000 | 428,000 |
| Non-Trading Income | 106,000 | 111,000 | 104,000 | 186,000 | 111,000 |
| Interest Payable | 273,000 | 279,000 | 310,000 | 374,000 | 389,000 |
| Pre-Tax Profit | 415,000 | 230,000 | 135,000 | -200,000 | 150,000 |
| Taxation | 149,000 | 85,000 | 50,000 | -71,000 | 69,000 |
| Profit After Tax | 266,000 | 145,000 | 85,000 | -129,000 | 81,000 |
| Dividends Payable | - | - | - | - | - |
| Retained Profit | 251,000 | 130,000 | 72,000 | -142,000 | -126,000 |
| Value Added | 2,933,768 | 2,682,152 | 2,692,088 | 2,583,744 | 2,996,928 |
Balance Sheet
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Tangible Fixed Assets [3] | 8,356,000 | 9,168,000 | 10,011,000 | 10,963,000 | 11,088,000 |
| Intangible Assets | - | - | - | - | - |
| Total Fixed Assets | 8,546,000 | 9,336,000 | 10,175,000 | 11,103,000 | 11,148,000 |
| Stocks | 84,000 | 76,000 | 87,000 | 109,000 | 170,000 |
| Trade Debtors | 685,000 | 676,000 | 597,000 | 772,000 | 853,000 |
| Cash | 78,000 | 64,000 | 222,000 | 64,000 | 71,000 |
| Miscellaneous Current Assets [4] | 1,943,000 | 1,949,000 | 1,819,000 | 1,614,000 | 1,456,000 |
| Total Current Assets | 2,790,000 | 2,765,000 | 2,725,000 | 2,559,000 | 2,550,000 |
| Creditors: Amounts falling due within one year [5] | 2,980,000 | 2,996,000 | 2,904,000 | 3,201,000 | 3,308,000 |
| Total Assets less Current Liabilities | 8,356,000 | 9,105,000 | 9,996,000 | 10,461,000 | 10,390,000 |
| Total Liabilities | 8,871,000 | 9,914,000 | 10,842,000 | 11,646,000 | 11,577,000 |
| Share Capital & Reserves [7] | 1,033,000 | 1,028,000 | 1,059,000 | 1,059,000 | 1,059,000 |
| P & L Account Reserve | 1,177,000 | 897,000 | 729,000 | 687,000 | 772,000 |
| Revaluation Reserve | 255,000 | 262,000 | 270,000 | 270,000 | 290,000 |
| Shareholders Funds | 2,465,000 | 2,187,000 | 2,058,000 | 2,016,000 | 2,121,000 |
| Capital Employed | 8,356,000 | 9,105,000 | 9,996,000 | 10,461,000 | 10,390,000 |
| Net Worth | 2,275,000 | 2,019,000 | 1,894,000 | 1,876,000 | 2,061,000 |
| Working Capital | -190,000 | -231,000 | -179,000 | -642,000 | -758,000 |
| Contingent Liabilities | 259,000 | 383,000 | 300,000 | 281,000 | 143,000 |
Cash Flow
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Net Cash Flow from Operating Activities | 1,192,000 | 1,093,000 | 1,185,000 | 866,000 | 1,251,000 |
| Net Cash Flow from Return on Investment and Servicing of Finance | -150,000 | -184,000 | -226,000 | -426,000 | -503,000 |
| Net Cash Flow before Financing | 1,165,000 | 676,000 | 942,000 | 213,000 | 491,000 |
| Net Cash Flow from Financing | -1,151,000 | -834,000 | -784,000 | -217,000 | -521,000 |
| Increase in cash | 14,000 | -158,000 | 158,000 | -4,000 | -30,000 |
Accounts Notes
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| [1] Exports | - | - | - | - | - |
| [2] Operating Profit is after charging the following | |||||
| Employees Remuneration | 1,517,000 | 1,463,000 | 1,472,000 | 1,661,000 | 1,682,000 |
| Directors Remuneration | 2,479 | 1,828 | 1,685 | 1,529 | 1,865 |
| Audit Fees | 1,675 | 1,498 | 1,561 | 1,543 | 1,247 |
| Non-Audit Fees | 1,362 | 660 | 932 | 1,801 | 4,142 |
| Depreciation | 677,000 | 669,000 | 726,000 | 762,000 | 712,000 |
| Average Number of Employees (actual) | 49,490 | 51,939 | 57,014 | 61,460 | 62,175 |
| [3] Tangible Assets consist of | |||||
| Fixed Assets | 8,152,000 | 8,637,000 | 9,487,000 | 10,474,000 | 10,662,000 |
| Intermediate Assets | 204,000 | 531,000 | 524,000 | 489,000 | 426,000 |
| which includes: | |||||
| -Due from Group, Non-Current | 0 | 0 | 0 | 0 | 0 |
| [4] Miscellaneous Current Assets includes: | |||||
| -Due from Group, Current | 0 | 42,000 | 38,000 | 43,000 | 39,000 |
| [5] Creditors: Amounts falling due within one year consists of: | |||||
| Trade Creditors | 897,000 | 840,000 | 982,000 | 1,091,000 | 1,211,000 |
| a Bank Overdraft | 0 | 0 | 0 | 0 | 3,000 |
| Miscellaneous Current Liabilities includes: | 2,083,000 | 2,156,000 | 1,922,000 | 2,110,000 | 2,094,000 |
| b -Bank Loans - Current Portion | 63,000 | 102,000 | 57,000 | 55,000 | 0 |
| c Other Short-Term Finance, including: | 496,000 | 612,000 | 513,000 | 649,000 | 514,000 |
| -Due to Group, Current | 0 | 32,000 | 27,000 | 25,000 | 30,000 |
| -Due to Directors, Current | 0 | 0 | 0 | 0 | 0 |
| -Other Current Liabilities | - | - | - | - | - |
| Short-Term Loans (a+b+c) | 559,000 | 714,000 | 570,000 | 704,000 | 517,000 |
| [6] Total Long-Term Liabilities consists of: | |||||
| Long-Term Loans, which consists of: | 4,053,000 | 5,160,000 | 6,281,000 | 6,861,000 | 6,581,000 |
| -Long-Term Bank Loans | 794,000 | 802,000 | 934,000 | 1,122,000 | 919,000 |
| -Other Long-Term Finance including: | 3,259,000 | 4,358,000 | 5,347,000 | 5,739,000 | 5,662,000 |
| -Due to Group, Non-Current | 0 | 0 | 0 | 0 | 0 |
| -Due to Directors, Non-Current | 0 | 0 | 0 | 0 | 0 |
| Other Long-Term Liabilities | 1,838,000 | 1,758,000 | 1,657,000 | 1,584,000 | 1,688,000 |
| [7] Share Capital and Reserves consists of: | |||||
| Called-up Share Capital | 271,000 | 271,000 | 271,000 | 271,000 | 271,000 |
| Sundry Reserves | 762,000 | 757,000 | 788,000 | 788,000 | 788,000 |
Interims
| Date of Interims | 30/09/2002 | 30/09/2001 | 30/09/2000 | 30/09/1999 |
| Consolidated | Y | Y | Y | Y |
| No. of Weeks | 26 | 26 | 26 | 26 |
| Currency | (£ '000) | (£ '000) | (£ '000) | (£ '000) |
| Turnover | 4,156,000 | 4,548,000 | 4,862,000 | 4,635,000 |
| Net Interest | 128,000 | 182,000 | 169,000 | 191,000 |
| Pre-Tax Profit | 310,000 | 45,000 | 150,000 | 240,000 |
| Taxation | 112,000 | -7,000 | 60,000 | 17,000 |
| Profit After Tax | 198,000 | 52,000 | 90,000 | 223,000 |
| Dividends Payable | 0 | 0 | 55,000 | 57,000 |
| Retained Profits | 192,000 | 45,000 | 28,000 | 161,000 |
| Balance Sheet | ||||
| Tangible Fixed Assets | 9,940,000 | 10,802,000 | 10,288,000 | 10,015,000 |
| Intangible Assets | - | - | - | - |
| Intermediate Assets | 500,000 | 451,000 | 483,000 | 398,000 |
| Total Fixed Assets | 10,590,000 | 11,387,000 | 10,832,000 | 10,413,000 |
| Stocks | 95,000 | 202,000 | 133,000 | 85,000 |
| Trade Debtors | 1,171,000 | 1,205,000 | 1,463,000 | 1,581,000 |
| Cash | 1,538,000 | 1,060,000 | 1,295,000 | 1,573,000 |
| Miscellaneous Current Assets | 0 | 0 | 0 | 0 |
| Total Current Assets | 2,804,000 | 2,467,000 | 2,891,000 | 3,239,000 |
| Creditors: Amounts falling due within one year | 2,947,000 | 3,080,000 | 3,341,000 | 3,264,000 |
| Creditors After One Year Provision | 8,064,000 | 8,418,000 | 7,856,000 | 6,638,000 |
| Called-Up Share Capital | 271,000 | 271,000 | 271,000 | 270,000 |
| P & L Account Reserve | - | - | - | - |
| Revaluation Reserve | - | - | - | - |
| Other (Sundry) Reserves | - | - | - | - |
| Shareholders Funds | 2,186,000 | 2,162,000 | 2,334,000 | 3,557,000 |
| Minority Interests | 197,000 | 194,000 | 192,000 | 193,000 | Cash Flow |
| Net Cash Flow from Operations | 756,000 | 611,000 | 884,000 | 681,000 |
| Net Cash Flow before Financing | 404,000 | -64,000 | 300,000 | -45,000 |
Ratios
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Acid Ratio | 0.91 | 0.90 | 0.91 | 0.77 | 0.72 |
| Profit/Capital Employed | 4.97 | 2.53 | 1.35 | -1.91 | 1.44 |
| Current Liquidity | 0.94 | 0.92 | 0.94 | 0.80 | 0.77 |
| Profit/Sales (%) | 5.31 | 3.04 | 1.76 | -2.40 | 1.62 |
| Interest Burden | 39.68 | 54.81 | 69.66 | 214.94 | 72.17 |
| Stock Turnover (days) | 3.92 | 3.67 | 4.13 | 4.77 | 6.69 |
| Days Sales Outstanding (DSO) | 32.00 | 32.64 | 28.34 | 33.79 | 33.56 |
| Cash Cycle (days) | 35.93 | 36.31 | 32.47 | 38.56 | 40.25 |
| Days Purchases Outstanding (DPO) | 45.88 | 43.75 | 49.35 | 48.03 | 50.48 |
| Creditor Days | 41.91 | 40.56 | 46.62 | 47.75 | 47.64 |
| Profit/Total Assets (%) | 3.66 | 1.90 | 1.05 | -1.46 | 1.10 |
| Profit/ Shareholders Funds (%) | 16.84 | 10.52 | 6.56 | -9.92 | 7.07 |
| Sales/Total Assets (%) | 68.92 | 62.47 | 59.60 | 61.05 | 67.73 |
| Sales/Fixed Assets | 0.96 | 0.88 | 0.81 | 0.80 | 0.87 |
| Working Capital/Sales (%) | -2.43 | -3.06 | -2.33 | -7.70 | -8.17 |
| Total Debt/Net worth (%) | 202.73 | 290.94 | 361.72 | 403.25 | 344.40 |
| Shareholders Funds/Total Assets | 0.22 | 0.18 | 0.16 | 0.15 | 0.15 |
| Long-term Debt/Net Worth (%) | 178.15 | 255.57 | 331.63 | 365.72 | 319.31 |
| Interest/Pre-interest Profit | 39.68 | 54.81 | 69.66 | 214.94 | 72.17 |
| Total Debt/Working Capital (%) | -24.27 | -25.43 | -38.27 | -11.78 | -9.36 |
| Average Employee Remuneration (GBP) | 30,653 | 28,168 | 25,818 | 27,026 | 27,053 |
| Wages/Sales (%) | 19.42 | 19.35 | 19.15 | 19.92 | 18.13 |
| Profit per Employee (GBP) | 8,386 | 4,428 | 2,368 | -3,254 | 2,413 |
| Sales per Employee (GBP) | 157,870 | 145,555 | 134,844 | 135,698 | 149,224 |
| Capital Employed per Employee (GBP) | 168,842 | 175,302 | 175,325 | 170,208 | 167,109 |
| Total Fixed Assets per Employee (GBP) | 172,681 | 179,749 | 178,465 | 180,654 | 179,300 |
| Total Assets per Employee (GBP) | 229,056 | 232,985 | 226,260 | 222,291 | 220,314 |
| Creditors/Debtors | 1.31 | 1.24 | 1.64 | 1.41 | 1.42 |
| Debtors/Total Assets (%) | 6.04 | 5.59 | 4.63 | 5.65 | 6.23 |
| Current Liabilities/Stocks | 35.48 | 39.42 | 33.38 | 29.37 | 19.46 |
| Exports/Sales (%) | - | - | - | - | - |
| Sales/Audit Fees | 4,664.48 | 5,046.73 | 4,925.05 | 5,405.06 | 7,440.26 |
| Total Assets/ Audit Fees | 6,767.76 | 8,078.10 | 8,263.93 | 8,854.18 | 10,984.76 |
Growth Rates
| 1 year | 2 year | 3 year | 4 year | |
| Turnover | 3.3 | 1.6 | -6.3 | -15.8 |
| Pre-tax Profit | 80.4 | 207.4 | - | 176.7 |
| Audit Fees | 11.8 | 7.3 | 8.6 | 34.3 |
| Directors Remuneration | 35.6 | 47.1 | 62.1 | 32.9 |
| Number of Employees | -4.7 | -13.2 | -19.5 | -20.4 |
| Employees Remuneration | 3.7 | 3.1 | -8.7 | -9.8 |
| Fixed Assets | -5.6 | -14.1 | -22.2 | -23.5 |
| Tangible Assets | -8.9 | -16.5 | -23.8 | -24.6 |
| Total Fixed Assets | -8.5 | -16.0 | -23.0 | -23.3 |
| Stocks | 10.5 | -3.4 | -22.9 | -50.6 |
| Trade Debtors | 1.3 | 14.7 | -11.3 | -19.7 |
| Total Current Assets | 0.9 | 2.4 | 9.0 | 9.4 |
| Total Assets | -6.3 | -12.1 | -17.0 | -17.2 |
| Trade Creditors | 6.8 | -8.7 | -17.8 | -25.9 |
| Short-Term Loans | -21.7 | -1.9 | -20.6 | 8.1 |
| Total Current Liabilities | -0.5 | 2.6 | -6.9 | -9.9 |
| Net Cash | 21.9 | -64.9 | 21.9 | 14.7 |
| Shareholders Funds | 12.7 | 19.8 | 22.3 | 16.2 |
| Net Worth | 12.7 | 20.1 | 21.3 | 10.4 |
| Long-Term Loans | -21.5 | -35.5 | -40.9 | -38.4 |
| Long-Term Liabilities | -14.8 | -25.8 | -30.2 | -28.8 |
| Capital Employed | -8.2 | -16.4 | -20.1 | -19.6 |
Company/Industry Comparison
| This comparison is based on the results of 58 companies in the same industrial sector: 62101 Scheduled passenger air transport | ||||
| Company | Industry Averages | |||
| 31/03/2005 | Lower | Median | Upper | |
| Performance | ||||
| Profit/Sales (%) | 5.31 | 0.13 | 1.64 | 4.15 |
| Profit/Capital Employed (%) | 4.97 | 0.98 | 4.88 | 13.24 |
| Profit/Total Assets (%) | 3.66 | 0.13 | 1.90 | 4.59 |
| Profit/Shareholders Funds (%) | 16.84 | 5.89 | 11.15 | 28.73 | Turnover |
| Sales/Total Assets (%) | 68.92 | 62.47 | 123.79 | 193.19 |
| Sales/Fixed Assets (%) | 0.96 | 1.65 | 4.00 | 15.71 |
| Working Capital/Sales (%) | -2.43 | 1.30 | -3.06 | -15.56 |
| Stock Turnover (days) | 3.92 | 7.00 | 5.00 | 2.00 |
| Credit Period (days) | 32.00 | 32.64 | 22.61 | 12.19 |
| Creditor Days | 41.91 | 40.56 | 24.19 | 16.16 | Liquidity |
| Current Ratio | 0.94 | 0.60 | 0.88 | 1.03 |
| Liquidity Ratio | 0.91 | 0.53 | 0.84 | 0.98 | Gearing |
| Total Debt/Net Worth (%) | 202.73 | 309.26 | 188.32 | 47.33 |
| Shareholders Funds/Total Assets | 0.22 | 0.10 | 0.18 | 0.32 |
| Long Term Debt/Net Worth (%) | 178.15 | 269.79 | 130.63 | 5.39 |
| Interest/Pre-interest Profit | 39.68 | 54.81 | 25.36 | 5.70 |
| Total Debt/Working Capital | -24.27 | - | - | - | Employee |
| Average Employee Remuneration (GBP) | 30,653 | 23,273 | 25,259 | 31,053 |
| Wages/Sales (%) | 19.42 | 19.35 | 14.35 | 11.64 |
| Profit per Employee (GBP) | 8,386 | 300 | 3,361 | 9,959 |
| Sales per Employee (GBP) | 157,870 | 146,293 | 183,370 | 237,506 |
| Capital Employed per Employee (GBP) | 168,842 | 21,691 | 51,576 | 175,302 |
| Total Fixed Assets per Employee (GBP) | 172,681 | 27,320 | 67,252 | 173,502 |
| Total Assets per Employee (GBP) | 229,056 | 85,872 | 121,944 | 242,636 | Other |
| Creditors/Debtors | 1.31 | 0.48 | 1.24 | 2.32 |
| Debtors/Total Assets (%) | 6.04 | 2.63 | 5.72 | 10.61 |
| Current Liabilities/Stocks | 35.48 | 13.90 | 23.98 | 74.16 |
| Exports/Sales (%) | - | - | - | - |
| Sales/Audit Fees | 4,664.48 | 1,277.16 | 3,950.09 | 6,696.80 |
| Total Assets/Audit Fees | 6,767.76 | 694.30 | 3,212.64 | 6,624.50 |
Filing History
| 18/10/2005 | Particulars of a mortgage or charge |
|---|---|
| 18/10/2005 | Change among the directors of a company |
| 28/07/2005 | Alteration in memorandum or articles of association |
| 06/07/2005 | Returns of allotments of a public company |
| 02/03/2005 | Particulars of a mortgage or charge |
| 01/03/2005 | Particulars of a mortgage or charge |
| 10/01/2005 | Particulars of a mortgage or charge |
| 23/12/2004 | Particulars of a mortgage or charge |
| 15/12/2004 | Particulars of a mortgage or charge |
| 10/12/2004 | Particulars of a mortgage or charge |
Company Secretaries
| ALAN KERR BUCHANAN | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 01/04/2000 |
| Date of Birth: | 16/06/1958 |
| Address: | HOLLIERS COTTAGE, HOLLIERS CLOSE, SYDENHAM, OXFORDSHIRE, OX39 4NG |
| Present Appointments: | 109 |
| Resignations since June 1996: | 16 |
Directors
| MARTIN FAULKNER BROUGHTON | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 12/05/2000 |
| Date of Birth: | 15/04/1947 |
| Nationality: | BRITISH |
| Occupation/Function: | CHARTERED ACCOUNTANT |
| Address: | WATERSIDE P O BOX 365 HARMONDSWORTH WEST DRAYTON UB7 0GB |
| Present Appointments: | BRITISH AIRWAYS PLC (01777777) THE BRITISH HORSERACING BOARD LIMITED (02813358) B.A.T (WINDSOR HOUSE) LIMITED (01169099) |
| Resignations since June 1996: | 16 |
| MARTIN PETER READ | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 12/05/2000 |
| Date of Birth: | 16/02/1950 |
| Nationality: | BRITISH |
| Occupation/Function: | CHIEF EXECUTIVE |
| Address: | WOLVERSDENE HOE ROAD BISHOPS WALTHAM HAMPSHIRE SO32 1DU |
| Present Appointments: | SHELTER, THE NATIONAL CAMPAIGN FOR HOMELESS PEOPLE LIMITED (01038133) LOGICACMG PLC (01631639) BRITISH AIRWAYS PLC (01777777) HAMPSHIRE TECHNOLOGY CENTRE TRUST LIMITED(THE) (02014929) BOOTS GROUP PLC (04452715) |
| Resignations since June 1996: | 10 |
| DENISE PATRICIA BYRNE KINGSMILL | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 05/11/2004 |
| Date of Birth: | 24/04/1947 |
| Nationality: | BRITISH |
| Occupation/Function: | LAWYER |
| Address: | WATERSIDE HARMONDSWORTH WEST DRAYTON UB7 0GB |
| Present Appointments: | BRITISH AIRWAYS PLC (01777777) THE DESIGN MUSEUM (02325092) RAINBOW UK LIMITED (02844406) RAINBOW UK LIMITED (02844406) |
| Resignations since June 1996: | 5 |
| ALISON CLARE REED | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 01/12/2003 |
| Date of Birth: | 22/12/1956 |
| Nationality: | BRITISH |
| Occupation/Function: | CHIEF FINANCIAL OFFICER |
| Address: | WATERSIDE PO BOX 365 HARMONDSWORTH MIDDLESEX UB7 0GB |
| Present Appointments: | BRITISH AIRWAYS PLC (01777777) THE MOVEMENT FOR NON-MOBILE CHILDREN (WHIZZ-KIDZ) (02444520) RUBY PROPERTIES (WESTFIELD) LIMITED (SC252185) |
| Resignations since June 1996: | 33 |
| ELIZABETH CONWAY SYMONS | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 19/07/2005 |
| Date of Birth: | 14/04/1951 |
| Nationality: | BRITISH |
| Occupation/Function: | PRIVY COUNCIL MEMBER OF THE HO |
| Address: | WATERSIDE HARMONDSWORTH WEST DRAYTON UB7 0GB |
| Present Appointments: | BRITISH AIRWAYS PLC (01777777) ROYAL INSTITUTE OF PUBLIC ADMINISTRATION (01273342) |
| Resignations since June 1996: | 3 |
| KENNETH PETER ROSS SMART | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 19/07/2005 |
| Date of Birth: | 28/04/1946 |
| Nationality: | BRITISH |
| Occupation/Function: | AVIATION SAFETY SPECIALIST |
| Address: | 4 CLANDON DRIVE BOYATT WOOD EASTLEIGH HAMPSHIRE SO50 4QQ |
| Present Appointments: | BRITISH AIRWAYS PLC (01777777) THE CHIRP CHARITABLE TRUST (03253764) |
| Resignations since June 1996: | 0 |
| JOHN FREDERICK RISHTON | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 01/09/2001 |
| Date of Birth: | 21/02/1958 |
| Nationality: | BRITISH |
| Occupation/Function: | CHIEF FINANCIAL OFFICER |
| Address: | CHERRY TREES GRIMMS HILL GREAT MISSENDEN BUCKINGHAMSHIRE HP16 9BG |
| Previous Address: | 4 ANGOOD CLOSE, PRINCES RISBOROUGH, BUCKINGHAMSHIRE, HP27 9BA |
| Present Appointments: | BRITISH AIRWAYS PLC (01777777) |
| Resignations since June 1996: | 13 |
| MARTIN PETER GEORGE | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 19/07/2005 |
| Date of Birth: | 19/05/1962 |
| Nationality: | BRITISH |
| Occupation/Function: | DIRECTOR OF MARKETING |
| Address: | WATERSIDE HARMONDSWORTH WEST DRAYTON UB7 0GB |
| Present Appointments: | BRITISH AIRWAYS PLC (01777777) AIR MILES TRAVEL PROMOTIONS LIMITED (02260073) UNIQ PLC (03912506) CAPITAL CHARITIES (04359098) CAPITAL CHARITIES (TRADING) LIMITED (04374705) |
| Resignations since June 1996: | 9 |
| MAARTEN ALBERT VAN DEN BERGH | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 16/07/2002 |
| Date of Birth: | 19/04/1942 |
| Nationality: | DUTCH |
| Occupation/Function: | BANK CHAIRMAN |
| Address: | THE SHELL CENTRE LONDON SE1 7NA |
| Present Appointments: | LLOYDS TSB BANK PLC (00002065) BRITISH AIRWAYS PLC (01777777) BT GROUP PLC (04190816) ROYAL DUTCH SHELL PLC (04366849) LLOYDS TSB GROUP PLC (SC095000) |
| Resignations since June 1996: | 15 |
| WILLIAM MATTHEW WALSH | |
| Disqualified Director: | No |
|---|---|
| Appointment Date: | 03/05/2005 |
| Date of Birth: | 25/10/1961 |
| Nationality: | IRISH |
| Occupation/Function: | COMPANY DIRECTOR |
| Address: | WATERSIDE HARMONDSWORTH WEST DRAYTON UB7 0GB |
| Present Appointments: | BRITISH AIRWAYS PLC (01777777) |
| Resignations since June 1996: | 0 |