Originally Posted by
Beafer
Accounts made up to March 2019. Signed off by directors 20th December 2019. Some new directors on the board.
Interesting accounts. Rail halt costs. Staff wages over £3.5 million a year for 81 staff. page 24.
Assets valued at £55m. page 28.
Filing history. PDF shown 3rd January 2020.
https://beta.companieshouse.gov.uk/c...filing-history
Of course the first thing to remember is that Peel were running the show for virtually all of this period. Secondly, there has been a big restatement of the 2017/18 accounts - I am not sure of the reason for this, it just says
"Following a review by management, it has been determined that the financial statements for the year ended 31 March 2018 and earlier periods contained amounts which required subsequent amendment". As a result there are some quite significant movements in both the P&L and the Balance Sheet, compared to what was reported when the 2017/18 accounts were originally published.
But ignoring the one off items and the discontinued operations, we have an airport that had income of £7.1m in 2018/19 and running costs of £9.8m so ended up losing £2.7m (operating profit).