TIDMGOG
RNS Number : 3207S
Go-Ahead Group PLC
29 September 2017
The Go-Ahead Group plc
(the "Group")
Annual Report and Accounts / Annual General Meeting
In compliance with Listing Rule 9.6.1, the following documents
have today been submitted to the National Storage Mechanism and
will shortly be available for inspection at
www.hemscott.com/nsm.do:
1. Annual Report and Accounts for the year ended 1 July 2017
2. Notice of Annual General Meeting 2017
3. Notification of Annual General Meeting and Annual Report and
Accounts 2017
4. Form of Proxy
Hard copies have today been mailed to those shareholders who
have elected to continue to receive paper communications. The
Annual Report and Accounts for the year ended 1 July 2017 and the
Notice of Annual General Meeting 2017 are also available on the
company's website: www.go-ahead.com.
The Group's 2017 Annual General Meeting will be held at the
Hilton Newcastle Gateshead, Bottle Bank, Gateshead, NE8 2AR on
Thursday 2 November 2017 at 11:00 hours.
The Group's preliminary announcement was released on 7 September
2017 (RNS Number: 0496Q) and contained a condensed set of the
Group's financial statements and information on important events
that have occurred during the year and their impact on the
financial statements. The announcement also contained the Group's
principal risk and uncertainties. That information together with
the information set out below, which is extracted from the Group's
Annual Report and Accounts 2017, constitute the requirements of DTR
6.3.5 which is to be communicated via an RIS in unedited full text.
This announcement is not a substitute for reading the Group's full
Annual Report and Accounts 2017. To view the preliminary
announcement made on 7 September 2017, visit the Group's website:
www.go-ahead.com.
Directors' statement of responsibility
The following statement is extracted from page 99 of the Group's
Annual Report and Accounts 2017 and is repeated here for the
purposes of DTR 6.3.5. This statement relates solely to the Group's
Annual Report and Accounts 2017 and is not connected to the
extracted information set out in this announcement or the Group's
Preliminary Announcement released on 7 September 2017:
Directors' statement of responsibilities
The directors are responsible for preparing the Annual Report
and Accounts in accordance with applicable United Kingdom law and
regulations. Company law requires the directors to prepare Group
financial statements for each financial year. Under that law, the
directors are required to prepare Group financial statements under
International Financial Reporting Standards (IFRS) as adopted by
the European Union. Detailed below are statements made by the
directors in relation to their responsibilities and disclosure of
information to the Group's auditor.
Financial statements and accounting records
Under company law, the directors must not approve the Group
financial statements unless they are satisfied that they give a
true and fair view of the state of affairs of the Group at the end
of the financial year and of the profit or loss of the Group for
that period. In preparing the Group financial statements, the
directors are required to:
-- Present fairly the financial position, financial performance and cashflows of the Group
-- Select suitable accounting policies in accordance with IAS 8:
Accounting Policies, Changes in Accounting Estimates and Errors and
then apply them consistently
-- Present information, including accounting policies, in a
manner that provides relevant, reliable, comparable and
understandable information
-- Make judgements and estimates that are reasonable and prudent
-- Provide additional disclosures when compliance with the
specific requirements in IFRS as adopted by the European Union is
insufficient to enable users to understand the impact of particular
transactions, other events and conditions on the Group's financial
position and financial performance
-- State whether the Group financial statements have been
prepared in accordance with IFRS as adopted by the European
Union
The directors are responsible for keeping adequate accounting
records that are sufficient to show and explain the Group's
transactions and disclose with reasonable accuracy at any time the
financial position of the Group, and enable them to ensure that the
Group financial statements comply with the Act and Article 4 of the
IAS Regulation. They are also responsible for the system of
internal control, for safeguarding the assets of the Group and,
hence, for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
The directors are also responsible for preparing the strategic
report, directors' report, including the directors' remuneration
report and the corporate governance report, in accordance with the
Act and applicable regulations, including the requirements of the
Listing Rules and the Disclosure and Transparency Rules.
The directors are responsible for the maintenance and integrity
of the corporate and financial information included on the Group's
corporate website.
Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation
in other jurisdictions.
Directors' statement of responsibility under the Disclosure and
Transparency Rules
The directors confirm to the best of their knowledge:
-- The financial statements, prepared in accordance with IFRS as
adopted by the European Union, give a true and fair view of the
assets, liabilities, financial position and profit or loss of the
Group and the undertakings included in the consolidation taken as a
whole
-- The strategic report includes a fair review of the
development and performance of the business and the position of the
Group and the undertakings included in the consolidation taken as a
whole together with a description of the principal risks and
uncertainties that they face
Directors' statement under the UK Corporate Governance Code
The directors further confirm, to the best of their knowledge,
that the Annual Report and Accounts, taken as a whole, are fair,
balanced and understandable and provide the information necessary
for shareholders to assess the Group's position and performance,
business model and strategy.
Related party disclosures and Group undertakings
The following statement is extracted from pages 156 to 159 of
the Group's Annual Report and Accounts 2017 and is repeated here
for the purposes of DTR 6.3.5:
Our subsidiaries listed below each contributes to the profits,
assets and cashflow of the Group. The Group has a number of related
parties including joint ventures, pension schemes and directors.
For accounting policies see 'Interests in joint arrangements' in
note 2.
The consolidated financial statements include the financial
statements of The Go-Ahead Group plc and the following Group
undertakings:
% equity interest
===================
Country of
Name incorporation 2017 2016
========================================== ================== ========= ========
Trading subsidiaries
Go-Ahead Holding Limited United Kingdom(2) 100 100
Go North East Limited United Kingdom 100 100
London General Transport Services
Limited United Kingdom 100 100
Go-Ahead London Rail Replacement
Services Limited United Kingdom 100 100
Brighton & Hove Bus and Coach Company
Limited United Kingdom 100 100
The City of Oxford Motor Services
Limited United Kingdom 100 100
Go South Coast Limited United Kingdom 100 100
Plymouth Citybus Limited United Kingdom 100 100
Konectbus Limited United Kingdom 100 100
Thames Travel (Wallingford) Limited United Kingdom 100 100
Carousel Buses Limited United Kingdom 100 100
Hedingham & District Omnibuses
Limited United Kingdom 100 100
Anglian Bus Limited United Kingdom 100 100
HC Chambers and Son Ltd. United Kingdom 100 100
Aviance UK Limited United Kingdom 100 100
New Southern Railway Limited United Kingdom(1) 65 65
London and South Eastern Railway
Limited United Kingdom(1) 65 65
London and Birmingham Railway Limited United Kingdom(1) 65 65
Southern Railway Limited United Kingdom(1) 65 65
Govia Thameslink Railway Limited United Kingdom(1) 65 65
Thameslink Rail Limited United Kingdom(1) 65 65
Govia Limited United Kingdom(1) 65 65
Go-Ahead Scotland Limited United Kingdom 100 100
Thamesdown Transport Limited United Kingdom 100 100
Excelsior Coaches Limited United Kingdom 100 100
Excelsior Transport Limited United Kingdom 100 100
Excelsior Travel Limited United Kingdom 100 100
Go-Ahead Verkehrsgesellschaft Deutschland
GmbH Germany 100 100
Go-Ahead Baden Württemberg
GmbH Germany 100 100
Go-Ahead Facility GmbH Germany 100 100
Go-Ahead Seletar PTE Ltd Singapore 100 100
Go-Ahead Loyang PTE Ltd Singapore 100 100
Jointly controlled entities
On Track Retail Limited United Kingdom(3) 50 50
========================================== ================== ========= ========
1. The rail companies are 65% owned by The Go-Ahead Group plc
and 35% owned by Keolis (UK) Limited and held through Govia
Limited.
2. Held by The Go-Ahead Group plc. All other companies are held
through subsidiary undertakings.
3. On Track Retail Limited is a joint venture with Assertis
Limited.
The above trading subsidiaries have one class of ordinary shares
which carry no right to fixed income, with the exception of On
Track Retail Limited, which also has redeemable preference
shares.
The registered office of all trading subsidiaries incorporated
in the United Kingdom is: 3(rd) Floor, 41-51 Grey Street, Newcastle
upon Tyne, NE1 6EE.
The registered office of Go-Ahead Verkehrsgesellschaft
Deutschland GmbH is: Jean-Monnaie-Straße 2, D-10557, Berlin,
Germany.
The registered office of Go-Ahead Baden Württemberg GmbH is:
Büchsenstraße 20, D-73457, Stuttgart, Germany.
The registered office of Go-Ahead Facility GmbH is: Bahnhof 2,
D-73457, Essingen, Germany.
The registered office of subsidiaries incorporated in Singapore
is: 2 Loyang Way, Singapore 508776.
% equity interest
===================
Company Country of
Name number incorporation 2017 2016
================================== ======= ================= ========= ========
Dormant subsidiaries
East Midlands Railway Limited
(previously Eastern Railway
Limited) 7164882 United Kingdom 100 100
Go Wear Buses Limited 2019645 United Kingdom 100 100
Go-Reading Limited 3158846 United Kingdom 100 100
GA Retail Services Limited
(previously South Central
Limited) 4173713 United Kingdom 100 100
The Go-Ahead Group Trustee
Co Limited 2125799 United Kingdom 100 100
Go-Ahead Property Development
Limited 7128594 United Kingdom 100 100
Go-Ahead XX Limited 8205871 United Kingdom 100 100
GHI Limited 4262016 United Kingdom 100 100
Southern Vectis Limited 2005917 United Kingdom 100 100
Birmingham Passenger Transport
Services Limited 2901263 United Kingdom 100 100
Go Coastline Limited 2018469 United Kingdom 100 100
Go London Limited 2849983 United Kingdom 100 100
Go West Midlands Limited 2490584 United Kingdom 100 100
Levers Coaches Limited 2524573 United Kingdom 100 100
MetroCity (Newcastle) Limited 4153866 United Kingdom 100 100
Thames Trains Limited 3007943 United Kingdom 100 100
Victory Railway Holdings
Limited 3147927 United Kingdom 100 100
London and South East Passenger
Rail Services Limited
(previously Govia Northern
Limited) 6537238 United Kingdom(1) 65 65
London & East Midlands
Railway Limited 5814586 United Kingdom(1) 65 65
London and West Midlands
Railway Limited 5537947 United Kingdom(1) 65 65
Abingdon Bus Company Limited 3151270 United Kingdom 100 100
Reed Investments Limited 4236536 United Kingdom 100 100
Gatwick Handling Limited 2984113 United Kingdom 100 100
GH Heathrow Limited 2813292 United Kingdom 100 100
GH Manchester Limited 1883900 United Kingdom 100 100
GH Stansted Limited 1983429 United Kingdom 100 100
Midland Airport Services
Limited 1592083 United Kingdom 100 100
Oxford Newco Limited 9542008 United Kingdom 100 100
London General Trustee
Company Limited 6953098 United Kingdom 100 100
Go-Ahead Finance Company 4699524 United Kingdom 100 100
Hants & Dorset Motor Services
Limited 2752603 United Kingdom 100 100
Hants & Dorset Trim Limited 2017829 United Kingdom 100 100
Solent Blue Line Limited 2103030 United Kingdom 100 100
Marchwood Motorways (Services)
Limited 2201331 United Kingdom 100 100
Marchwood Motorways (Southampton)
Limited 1622531 United Kingdom 100 100
The Southern Vectis Omnibus
Co. Limited 0241973 United Kingdom 100 100
Tourist Coaches Limited 3006529 United Kingdom 100 100
Wilts & Dorset Bus Company
Limited 1671355 United Kingdom 100 100
Wilts & Dorset Investments
Limited 4613075 United Kingdom 100 100
Wilts & Dorset Holdings
Limited 2091878 United Kingdom 100 100
Dockland Buses Limited 3420004 United Kingdom 100 100
Blue Triangle Buses Limited 3770568 United Kingdom 100 100
Go-Ahead Leasing Limited 5262810 United Kingdom 100 100
Go Northern Limited 0132492 United Kingdom 100 100
London Central Bus Company
Limited 2328565 United Kingdom 100 100
Metrobus Limited 1742404 United Kingdom 100 100
Hants & Dorset Transport
Support Services Limited 8669065 United Kingdom 100 100
Go-Ahead Sverige AB Sweden 100 100
Go-Ahead Norge AS Norway 100 100
---------------------------------- ------- ----------------- --------- --------
% equity interest
===================
Company Country of
Name number incorporation 2017 2016
============================= ======== ============== ========= ========
Jointly controlled dormant
entities
South Tyneside Smartzone
Limited 09907829 United Kingdom 50 50
Newcastle Smartzone Limited 09907839 United Kingdom 33 33
North Tyneside Smartzone
Limited 09907842 United Kingdom 33 33
Sunderland Smartzone Limited 09907836 United Kingdom 33 33
============================= ======== ============== ========= ========
1. The rail companies are 65% owned by The Go-Ahead Group plc
and 35% owned by Keolis (UK) Limited and held through Govia
Limited.
The registered office of all dormant subsidiaries incorporated
in the United Kingdom is: 3(rd) Floor, 41-51 Grey Street, Newcastle
upon Tyne, NE1 6EE.
The registered office of Go-Ahead Sverige AB incorporated in
Sweden is: Mäster Samuelsgatan 20, SE 101 39, Stockholm,
Sweden.
The registered office of Go-Ahead Norge AS incorporated in
Norway is: Filipstad Brygge 1, NO 0125, Oslo, Norway.
The registered office of all jointly controlled dormant entities
is: Kepier House, Belmont Business Park, Durham, DH1 1TH.
All dormant companies listed above are incorporated in the
United Kingdom have taken advantage of the UK Companies Act 2006,
S480 exemption from audit.
Transactions with other related parties
The Group meets certain costs of administering the Group's
retirement benefit plans, including the provision of meeting space
and office support functions to the trustees. Costs borne on behalf
of the retirement benefit plans amounted to GBP0.2m (2016:
GBP0.2m).
Joint ventures
The Group's joint venture, On Track Retail Limited 'OTR', has
its principal place of business in the United Kingdom. The
principal activity of OTR is the development and provision of web
ticketing applications for the rail industry. The activities of the
joint venture are strategically important to the business
activities of the Group. The Group owns 50% of the ordinary share
capital of OTR.
Compensation of key management personnel of the Group
The key management are considered to be the directors of the
parent company.
2017 2016
GBPm GBPm
=============================== ===== =====
Short term employee benefits 1.4 1.3
Long term employee benefits(1) 0.3 1.0
Post employment benefits 0.1 -
=============================== ===== =====
1.8 2.3
=============================== ===== =====
1. The long term employee benefits relate to LTIP and DSBP.
Material partly owned subsidiaries
Financial information of subsidiaries that have material
non-controlling interests is provided below:
Proportion of equity interest held by non-controlling
interests:
Country of
incorporation
and operation 2017 2016
==================================== =============== ==== ====
Govia Limited United Kingdom 35% 35%
London and South Eastern Railway
Limited(1) United Kingdom 35% 35%
Southern Railway Limited(1) United Kingdom 35% 35%
London and Birmingham Railway
Limited(1) United Kingdom 35% 35%
Govia Thameslink Railway Limited(1) United Kingdom 35% 35%
Thameslink Rail Limited(1) United Kingdom 35% 35%
New Southern Railway Limited(1) United Kingdom 35% 35%
==================================== =============== ==== ====
1. Subsidiary of Govia Limited.
2017 2016
GBPm GBPm
================================================= ===== =====
Accumulated balances of material non-controlling
interest:
Govia Limited 23.7 22.6
Total comprehensive income allocated to material
non-controlling interest:
Govia Limited 22.4 24.4
================================================= ===== =====
The summarised financial information of these subsidiaries is
provided below. The information is based on amounts before
inter-company eliminations:
Summarised income statement of Govia Limited and its subsidiary
companies for the year ended 1 July 2017 and 2 July 2016:
Restated
2017 2016
GBPm GBPm
================================================ ========= =========
Revenue 2,579.1 2,498.0
Operating costs (2,499.8) (2,410.7)
Finance revenue 2.3 3.2
Finance costs (1.9) (2.9)
================================================ ========= =========
Profit on ordinary activities before taxation 79.7 87.6
Tax expense (16.4) (17.7)
================================================ ========= =========
Profit for the year from controlling operations 63.3 69.9
================================================ ========= =========
Total comprehensive income 63.3 69.9
================================================ ========= =========
Attributable to non-controlling interests 22.4 24.4
================================================ ========= =========
Dividends paid to non-controlling interests 21.3 17.8
================================================ ========= =========
Summarised balance sheet of Govia Limited and its subsidiary
companies as at 1 July 2017 and 2 July 2016:
2017 2016
GBPm GBPm
================================================ ======= =======
Current assets - inventories, trade and other
receivables, cash 850.7 924.5
Non-current assets - property, plant and
equipment, intangible assets, deferred tax 51.9 35.4
Current liabilities - trade and other payables,
provisions (776.0) (849.7)
Non-current liabilities - provisions (58.9) (45.6)
================================================ ======= =======
Total equity 67.7 64.6
================================================ ======= =======
Attributable to:
Equity holders of the parent 44.0 42.0
Non-controlling interest 23.7 22.6
================================================ ======= =======
These balance sheet amounts are shown before intercompany
eliminations.
Summarised cashflow information of Govia Limited and its
subsidiary companies for the year ended 1 July 2017 and 2 July
2016:
2017 2016
GBPm GBPm
========================================== ====== ======
Operating (18.4) 62.7
Investing 30.0 20.8
Financing (62.9) (53.7)
========================================== ====== ======
Net (decrease)/ increase in cash and cash
equivalents (51.3) 29.8
========================================== ====== ======
For further information please contact:
Carolyn Ferguson
Group Company Secretary
0191 232 3123
This information is provided by RNS
The company news service from the London Stock Exchange
END
DOCMMGZLVLNGNZM
(END) Dow Jones Newswires
September 29, 2017 12:19 ET (16:19 GMT)
Go-ahead (LSE:GOG)
Historical Stock Chart
From Apr 2024 to May 2024
Go-ahead (LSE:GOG)
Historical Stock Chart
From May 2023 to May 2024