Raileasy Ltd Accounts






Raileasy Ltd
Ferries Trains Planes Ltd
	Company No. 03067728
		Directors' Report and Unaudited Accounts
		31 March 2025




							Pages

Company Information							2
Directors' Report							3
Accountant's Report							4
Profit and Loss Account							5
Statement of Comprehensive Income							6
Balance Sheet							7
Statement of Changes in Equity							8
Notes to the Accounts							9 to 13

Directors

Michael Richardson
Giorgio Sikking
Joseph Sikking










































Registered Office

10 Station Parade
High Street
Wanstead
London
E11 1QF

Accountants

Swaleside Accountancy Ltd
Old Rectory
South Kilvington
Thirsk
North Yorkshire
YO7 2NL

The Directors present their report and the accounts for the year ended 31 March 2025.

Principal activities

The principal activity of the company during the year under review was passenger rail transport.




Directors

The Directors who served at any time during the year were as follows:

Michael Richardson
Giorgio Sikking
Joseph Sikking







































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

Giorgio Sikking
Director
03 December 2025

Report to the Board of Directors of Raileasy Ltd on the preparation of the unaudited statutory accounts for the year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006 and in accordance with your instructions, we have prepared for your approval the accounts of Raileasy Ltd for the year ended 31 March 2025 set out on pages 5 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Raileasy Ltd, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Raileasy Ltd and state those matters that we have agreed to state to the Board of Directors of Raileasy Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Raileasy Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Raileasy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Raileasy Ltd. You consider that Raileasy Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Raileasy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Swaleside Accountancy Ltd
Accountants
Old Rectory
South Kilvington
Thirsk
North Yorkshire
YO7 2NL
03 December 2025

for the year ended 31 March 2025

	2025	2024
	£	£
Turnover	44,173,075	38,688,587

Cost of Sales	(41,554,029)	(36,638,964)

Gross profit	2,619,046	2,049,623

Distribution costs and selling expenses	(676,046)	(587,802)

Administrative expenses	(1,487,156)	(1,075,001)



Operating profit	455,844	386,820



Other interest receivable	33,522	24,287



Interest payable and similar charges	-	(17,424)



Profit on ordinary activities before taxation	489,366	393,683

Taxation	(151,733)	(133,476)

Profit for the financial year after taxation	337,633	260,207

STATEMENT OF COMPREHENSIVE INCOME

for the year ended 31 March 2025

	2025	2024

	£	£
Profit for the financial year after taxation	337,633	260,207







Total comprehensive income for the period	337,633	260,207

at	31 March 2025

Company No.		03067728	Notes	2025	2024
				£	£
Fixed assets
	Intangible assets		4	183,805	311,013
	Tangible assets		5	4,295	7,170

	Investments		6	112	112
				188,212	318,295
Current assets

	Debtors		7	2,138,095	2,067,266

	Cash at bank and in hand			2,396,821	2,559,604
				4,534,916	4,626,870
Creditors: Amount falling due within one year			8	(2,402,436)	(2,762,106)
Net current assets				2,132,480	1,864,764
Total assets less current liabilities				2,320,692	2,183,059




Net assets				2,320,692	2,183,059

Capital and reserves
	Called up share capital			2,763	2,763
	Share premium account		9	1,012,125	1,012,125


	Profit and loss account		9	1,305,804	1,168,171

Total equity				2,320,692	2,183,059



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



Approved by the board on 03 December 2025 and signed on its behalf by:
Giorgio Sikking
Director
03 December 2025

for the year ended 31 March 2025

		Share Capital	Share Premium	Retained earnings	Total equity
		£	£	£	£
	At 1 April 2023	2,763	1,012,125	1,157,964	2,172,852




	Profit for the period			260,207	260,207

	Dividends			(250,000)	(250,000)





	At 31 March 2024 and 1 April 2024	2,763	1,012,125	1,168,171	2,183,059




	Profit for the period			337,633	337,633

	Dividends			(200,000)	(200,000)
	At 31 March 2025	2,763	1,012,125	1,305,804	2,320,692

for the year ended 31 March 2025

General information

Raileasy Ltd is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 03067728

Its registered office is:

10 Station Parade

High Street

Wanstead

London

E11 1QF

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

33% Straight line

Furniture, fittings and equipment

20% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2025	2024
			Number	Number
		The average monthly number of employees (including directors) during the year was:	14	13

4	Intangible fixed assets
			Develop-ment costs	Other	Total
			£	£	£
		Cost
		At 1 April 2024	3,614,295	20,000	3,634,295


		At 31 March 2025	3,614,295	20,000	3,634,295
		Amortisation and impairment
		At 1 April 2024	3,303,282	20,000	3,323,282
		Charge for the year	127,208	-	127,208


		At 31 March 2025	3,430,490	20,000	3,450,490
		Net book values
		At 31 March 2025	183,805	-	183,805
		At 31 March 2024	311,013	-	311,013

5	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 April 2024	24,266	32,897	57,163
		Additions	2,995	-	2,995



		At 31 March 2025	27,261	32,897	60,158
		Depreciation
		At 1 April 2024	17,096	32,897	49,993
		Charge for the year	5,870	-	5,870



		At 31 March 2025	22,966	32,897	55,863
		Net book values
		At 31 March 2025	4,295	-	4,295
		At 31 March 2024	7,170	-	7,170

6	Investments
			Other investments	Total
			£	£
		Cost or valuation
		At 1 April 2024	112	112



		At 31 March 2025	112	112
		Provisions/Impairment





		Net book values
		At 31 March 2025	112	112
		At 31 March 2024	112	112

7	Debtors
			2025	2024
			£	£
		Trade debtors	55,682	12,308



		VAT recoverable	81,538	54,132

		Other debtors	2,000,000	2,000,000
		Prepayments and accrued income	875	826
			2,138,095	2,067,266

8	Creditors:
		amounts falling due within one year
			2025	2024
			£	£




		Trade creditors	1,931,369	2,329,307

		Taxes and social security	177,431	155,176


		Accruals and deferred income	293,636	277,623
			2,402,436	2,762,106

Reserves

Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account - includes all current and prior period retained profits and losses.

10	Dividends
			2025	2024
			£	£
		Dividends for the period:
		Dividends paid in the period	200,000	250,000

			200,000	250,000

		Dividends by type:

		Equity dividends	200,000	250,000
			200,000	250,000

Related party disclosures

Transactions with related parties

Parent Company

The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:

Mr and Mrs G A Sikking (with Sikking pension scheme); being a director and 51% shareholders.