checkSURE Full Company Report :
Supplied on XX August 200X

 

Company Identification

Details

Subject Reported on BRITISH AIRWAYS PLC
Address Waterside, Po Box 365, Harmondsworth, West Drayton, UB7 0GB .
Telephone 020 8759 5511
checkSCORE 60 out of 100
Average Risk - This company has an average risk status and should be treated with a degree of caution
Credit Limit GBP  30,000,000
Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.

Official Company Data

Legal Form Public limited with share capital
Registration Number 01777777
Date of Incorporation 13/12/1983
Registered Office WATERSIDE, PO BOX 365, HARMONDSWORTH, WEST DRAYTON, UB7 0GB .
Date of Last Annual Return to Registry 31/07/2002
Activities A group engaged in the operation of international and  domestic scheduled & charter air services for the carriage  of passengers, freight & mail & prov. of ancilliary svces.
Accounts

Recently Filed Documents ( view available documents )

Details of the most recent documents

Date Received Description
05/08/2003 Particulars of a mortgage or charge
25/07/2003 Particulars of a mortgage or charge
24/07/2003 Alteration in memorandum or articles of association
24/07/2003 Resolutions which give, vary, revoke or renew an authority for the purposes of section 80 (allotment of securities)
21/07/2003 Particulars of a mortgage or charge
21/07/2003 Memorandum of satisfaction
30/04/2003 Particulars of a mortgage or charge
25/04/2003 Particulars of a mortgage or charge
25/04/2003 Particulars of a mortgage or charge
25/04/2003 Particulars of a mortgage or charge
02/04/2003 Particulars of a mortgage or charge
25/02/2003 Particulars of a mortgage or charge
17/02/2003 Particulars of a mortgage or charge
17/02/2003 Particulars of a mortgage or charge
17/02/2003 Particulars of a mortgage or charge
09/01/2003 Particulars of a mortgage or charge
09/01/2003 Particulars of a mortgage or charge
09/01/2003 Particulars of a mortgage or charge
09/01/2003 Particulars of a mortgage or charge
09/01/2003 Particulars of a mortgage or charge
It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

Known Directors

DIRECTOR LORD RENWICK OF CLIFTON  ROBIN WILLIAM RENWICK
  Occupation BANKER
  Address 42 JUBILEE PLACE , LONDON , SW3 3TQ
  Country of Origin BRITISH
  Date of Birth 13/12/1937
  Appointment Date 01/03/1996
  Other Directorships FLUOR LIMITED,  SABMILLER PLC, BROKEN HILL PROPRIETARY COMPANY LIMITED, BHP BILLITON PLC, THE HAKLUYT FOUNDATION
DIRECTOR BARONESS  DETTA O'CATHAIN
  Occupation MANAGING DIRECTOR
  Address C129 PARLIAMENT VIEW APARTMENTS , 1 ALBERT EMBANKMENT , LONDON , SE1 7XN
  Country of Origin BRITISH
  Date of Birth 03/02/1938
  Appointment Date 27/05/1993
  Other Directorships BNP PARIBAS U.K. HOLDINGS LIMITED, SAUR WATER SERVICES PLC, SOUTH EAST WATER PLC
DIRECTOR DOCTOR  MARTIN PETER READ
  Occupation MD AND CEO
  Address WOLVERSDENE , HOE ROAD , BISHOPS WALTHAM , HAMPSHIRE , SO32 1DU
  Country of Origin BRITISH
  Date of Birth 16/02/1950
  Appointment Date 12/05/2000
  Other Directorships LOGICACMG PLC, BOOTS GROUP PLC, HAMPSHIRE TECHNOLOGY CENTRE TRUST LIMITED(THE)
DIRECTOR DR  ASHOK SEKHAR GANGULY
  Occupation DIRECTOR
  Address 233 CRANMER COURT , WHITEHEADS GROVE , LONDON , SW3 3HD
  Country of Origin INDIAN
  Date of Birth 28/07/1935
  Appointment Date 12/04/1996
DIRECTOR MAARTEN ALBERT VAN DEN BERGH
  Occupation BANK CHAIRMAN
  Address EASTWOOD , 7 ALBURY ROAD , WALTON ON THAMES , SURREY , KT12 5DY
  Country of Origin DUTCH
  Date of Birth 19/04/1942
  Appointment Date 16/07/2002
  Other Directorships LLOYDS TSB BANK PLC, LLOYDS TSB GROUP PLC, SHELL PETROLEUM COMPANY LIMITED(THE), BT GROUP PLC
DIRECTOR MARTIN FAULKNER BROUGHTON
  Occupation CHARTERED ACCOUNTANT
  Address ROSEMARY HOUSE WOODHURST PARK , OXTED , SURREY , RH8 9HA
  Country of Origin BRITISH
  Date of Birth 15/04/1947
  Appointment Date 12/05/2000
  Other Directorships BRITISH-AMERICAN TOBACCO (HOLDINGS) LIMITED, B.A.T INDUSTRIES P.L.C., BRITISH AMERICAN TOBACCO CHINA HOLDINGS LIMITED, BRITISH AMERICAN TOBACCO P.L.C., THE BRITISH HORSERACING BOARD LIMITED, LOUISVILLE SECURITIES LIMITED, BRITISH AMERICAN VENTURES LIMITED, BRITISH AMERICAN TOBACCO (1998) LIMITED
DIRECTOR LORD MARSHALL OF KNIGHTSBRIDGE  COLIN MARSH MARSHALL
  Occupation CHAIRMAN
  Address 21 MONTPELIER SQUARE , LONDON , SW7 1JR
  Country of Origin BRITISH
  Date of Birth 16/11/1933
  Appointment Date 31/07/1992
  Other Directorships HSBC HOLDINGS PLC, AMERICAN CHAMBER OF COMMERCE (UNITED KINGDOM), BRITAIN IN EUROPE CAMPAIGN LIMITED, NEW YORK STOCK EXCHANGE,INC.
DIRECTOR MICHAEL JEFFERY
  Occupation AIRLINE EXECUTIVE
  Address SHEARWATER , GREENAWAYS TREBETERICK , ROCK , CORNWALL , PL27 6SF
  Country of Origin BRITISH
  Date of Birth 24/04/1945
  Appointment Date 01/10/2001
  Other Directorships P.A. (1) DEVELOPMENTS LIMITED
DIRECTOR JOHN FREDERICK RISHTON
  Occupation FINANCE MANAGER
  Address CHERRY TREES , GRIMMS HILL , GREAT MISSENDEN , BUCKINGHAMSHIRE , HP16 9BG
  Country of Origin BRITISH
  Date of Birth 21/02/1958
  Appointment Date 01/09/2001
  Other Directorships BRITISH CALEDONIAN GROUP PUBLIC LIMITED COMPANY, BRITISH AIRWAYS ASSOCIATED COMPANIES LIMITED, BRITISH AIRWAYS LEASING LIMITED
DIRECTOR RODERICK IAN EDDINGTON
  Occupation DIRECTOR
  Address SOUTHLAKE HOUSE , THE STREET, SHURLOCK ROW , READING , BERKSHIRE , RG10 0PS
  Country of Origin AUSTRALIAN
  Date of Birth 02/01/1950
  Appointment Date 12/05/2000
  Other Directorships INTERNATIONAL AIR TRANSPORT ASSOCIATION
DIRECTOR MICHAEL ANTHONY STREET
  Occupation AIRLINE EXECUTIVE
  Address SPINNEY CLOSE WINKFIELD LANE , WINKFIELD , WINDSOR , BERKSHIRE , SL4 4QU
  Country of Origin BRITISH
  Date of Birth 06/08/1947
  Appointment Date 08/12/2000
  Other Directorships AIR LEAGUE(THE), WSH GROUP LIMITED, AIRWAYS CHARITABLE TRUST LIMITED
SECRETARY ALAN KERR BUCHANAN
  Address HOLLIERS COTTAGE , HOLLIERS CLOSE , SYDENHAM , OXFORDSHIRE , OX39 4NG
  Country of Origin BRITISH
  Date of Birth 16/06/1958
  Appointment Date 01/04/2000

Recently Resigned Directors (last 3)

DIRECTOR ANGIE MICHAEL DAVIES
  Occupation COMPANY DIRECTOR
  Address LITTLE WOOLPIT , EWHURST , CRANLEIGH , SURREY , GU6 7NP
  Country of Origin BRITISH
  Date of Birth 23/06/1934
  Resignation Date 16/07/2002
DIRECTOR THE HONOURABLE  RAYMOND GEORGE HARDENBERGH SEITZ
  Occupation NON EXECUTIVE DIRECTOR
  Address 10 PEMBRIDGE PLACE , LONDON , W2 4XB
  Country of Origin AMERICAN
  Date of Birth 08/12/1940
  Resignation Date 16/07/2002
DIRECTOR CAPTAIN  COLIN ANGUS BARNES
  Occupation COMPANY DIRECTOR
  Address SANDILANDS GLEBE LANE , TILFORD , FARNHAM , SURREY , GU10 2EW
  Country of Origin BRITISH
  Date of Birth 06/07/1933
  Resignation Date 30/09/2001

Share Capital

Shares 25.0 pence
Issued Capital GBP 271,000,000
Principal Shareholder 10.98%  Wellington Management Company
7.03%  Franklin Resources Inc.
7.03%  The Capital Group Companies Inc.

Public Record Information

Summary of CCJ's/Scottish Decrees

There are 7 exact unsatisfied CCJs totalling £12656.00.

Details of most recent CCJ's/Scottish Decrees

On 16/12/1999, a Judgment of £0.00 was made in MANCHESTER court (Case No. MA923085) against BRITISH AIRWAYS PLC of SPEEDBIRD HOUSE, HEATHROW AIRPORT (LONDON), HOUNSLOW, TW6 2JA, Ref. No. 0501001595. On 20/01/2000 this Judgment was satisfied. (Exact)
29/10/1999, a Judgment of £6670.00 was made in LUTON court (Case No. LU905838) against BRITISH AIRWAYS PLC of TECH BLOCK C, PO BOX 19, HEATHROW AIRPORT, HOUNSLOW, TW6 2JA, Ref. No. 0411900869. (Exact)
25/10/1999, a Judgment of £1118.00 was made in COLCHESTER & CLACTON court (Case No. CO905592) against BRITISH AIRWAYS PLC of PO BOX 10, HOUNSLOW, MIDDLESEX, TW6 2JA, Ref. No. 0111901623. (Exact)
22/12/1998, a Judgment of £3981.00 was made in MANCHESTER court (Case No. MA833600) against BRITISH AIRWAYS PLC of R/O WATERSIDE, PO BOX 365 HARMONDSWORTH, WEST DRAYTON, UB7 0GB, Ref. No. 0601903055. (Exact)
17/02/1998, a Judgment of £92.00 was made in HIGH WYCOMBE court (Case No. HW800148) against BRITISH AIRWAYS PLC of SPEEDBIRD HOUSE, HEATHROW AIRPORT (LONDON), HOUNSLOW, TW6 2JA, Ref. No. 2602805938. (Exact)
13/01/1998, a Judgment of £88.00 was made in BIRMINGHAM court (Case No. BM726866) against BRITISH AIRWAYS PLC of R/O SPEEDBIRD HOUSE, HEATHROW AIRPORT, HOUNSLOW, MIDDLESEX, TW6 2JA, Ref. No. 2001808706. (Exact)
31/10/1997, a Judgment of £408.00 was made in NORTHAMPTON court (Case No. XF738826) against BRITISH AIRWAYS PLC of THE COMPASS CENTRE, HEATHROW AIRPORT (S732), HOUNSLOW, MIDDLESEX, TW6 2JA, Ref. No. 0511713818. (Exact)
09/10/1997, a Judgment of £299.00 was made in NORTHAMPTON court (Case No. NN705144) against BRITISH AIRWAYS PLC of PO BOX 10, HOUNSLOW, MIDDLESEX, TW6 2JA, Ref. No. 1211706413. (Exact)
20/11/1995, a Judgment of £212.00 was made in NORTHAMPTON court (Case No. XS500206) against BRITISH AIRWAYS PLC of SPEEDBIRD HOUSE, HEATHROW AIRPORT (LONDON), HOUNSLOW, MIDDLESEX, TW6 2JA, Ref. No. 0512508823. On 23/04/1996 this Judgment was satisfied. (Exact)

Operations

Activities A group engaged in the operation of international and  domestic scheduled & charter air services for the carriage  of passengers, freight & mail & prov. of ancilliary svces.
Sic Code Description
62101 Scheduled passenger air transport
Staff Employed 57014
Auditors Ernst & Young LLP
Auditors Notes Clean Report The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/03/2003.
Subsidiaries 02260073  AIR MILES TRAVEL PROMOTIONS LIMITED
00574670  AIR RUSSIA LIMITED
00447296  AIRWAYS AERO ASSOCIATION LIMITED
00858677  ALTA HOILDAYS LIMITED
02230279  AVIATION DEFENCE LIMITED

Financial Data

Profit and Loss
The following figures are shown in units of GBP '000
Number of Weeks 52 52 52 52
Accounts Date 31/03/2003 31/03/2002 31/03/2001 31/03/2000
Currency GBP '000 GBP '000 GBP '000 GBP '000
SALES 7,688,000 8,340,000 9,278,000 8,940,000
Cost of goods sold 7,263,000 8,291,000 8,757,000 8,679,000
GROSS PROFIT 425,000 49,000 521,000 261,000
Wages and Salaries 1,472,000 1,661,000 1,682,000 1,790,000
Directors Emoluments 1,685 1,529 1,865 3,324
Auditors Fees 1,561 1,543 1,247 1,275
Non-Audit Fees 932 1,801 4,142 1,964
Trading Profit 1,067,000 750,000 1,140,000 628,000
Depreciation 726,000 762,000 712,000 647,000
OPERATING PROFIT 341,000 -12,000 428,000 -19,000
Non Trading Income 104,000 186,000 111,000 369,000
Interest Payable 310,000 374,000 389,000 345,000
PRE TAX PROFIT 135,000 -200,000 150,000 5,000
Taxation 50,000 -71,000 69,000 15,000
PROFIT AFTER TAX 85,000 -129,000 81,000 -10,000
Dividends Payable 0 0 193,000 195,000
RETAINED PROFITS 72,000 -142,000 -126,000 -216,000
Balance Sheet
The following figures are shown in units of GBP '000
Number of Weeks 52 52 52 52
Accounts Date 31/03/2003 31/03/2002 31/03/2001 31/03/2000
Currency GBP '000 GBP '000 GBP '000 GBP '000
TOTAL FIXED ASSETS 10,175,000 11,103,000 11,148,000 10,923,000
 Tangible Assets 10,011,000 10,963,000 11,088,000 10,861,000
  Fixed Assets 9,487,000 10,474,000 10,662,000 10,294,000
  Intermediate Assets 524,000 489,000 426,000 567,000
  Due From Group 0 0 0 12,000
 Intangible Assets 164,000 - - -
TOTAL CURRENT ASSETS 2,725,000 2,559,000 2,550,000 2,592,000
 Trade Debtors 597,000 772,000 853,000 889,000
 Stocks 87,000 109,000 170,000 78,000
 Other Current Assets 2,041,000 1,678,000 1,527,000 1,625,000
  Misc Current Assets 1,819,000 1,614,000 1,456,000 1,522,000
  Due From Group 38,000 43,000 39,000 33,000
  Cash 222,000 64,000 71,000 103,000
TOTAL ASSETS 12,900,000 13,662,000 13,698,000 13,515,000
TOTAL CURRENT LIABILITIES 2,904,000 3,201,000 3,308,000 3,366,000
 Trade creditors 982,000 1,091,000 1,211,000 1,159,000
 Short Term Loans 570,000 704,000 517,000 580,000
  Bank Overdraft 0 0 3,000 5,000
  Bank Loans 56,000 55,000 0 18,000
  Due To Group 27,000 25,000 30,000 27,000
WORKING CAPITAL -179,000 -642,000 -758,000 -774,000
TOTAL LONG TERM LIABS 7,938,000 8,445,000 8,269,000 7,002,000
 Long Term Loans 6,281,000 6,861,000 6,581,000 6,565,000
  Bank Loans 935,000 1,122,000 919,000 903,000
  Other Finance 5,346,000 5,739,000 5,662,000 5,662,000
 Other Liabilities 1,657,000 1,584,000 1,688,000 437,000
NET ASSETS/(LIABILITIES) 2,058,000 2,016,000 2,121,000 3,147,000
SHARE CAPITAL + RESERVES 2,058,000 2,016,000 2,121,000 3,147,000
 Share Cap + Sundry Res 1,059,000 1,059,000 1,059,000 1,055,000
  Issued Share Capital 271,000 271,000 271,000 270,000
  Sundry Reserves 788,000 788,000 788,000 785,000
 Revaluation Reserves 270,000 270,000 290,000 285,000
 Profit and Loss account 729,000 687,000 772,000 1,807,000
SHAREHOLDERS FUNDS 2,058,000 2,016,000 2,121,000 3,147,000
CAPITAL EMPLOYED 9,996,000 10,461,000 10,390,000 10,149,000
Key Credit Ratios
Accounts Date 31/03/2003 31/03/2002 31/03/2001 31/03/2000
Current Ratio 0.94 0.80 0.77 0.77
Long Term Debt/T.N.W (%) 361.72 403.25 344.40 231.60
Profit Before Tax 1.76 -2.40 1.62 0.06
Debtors Days (D.S.O) 28.34 33.79 33.56 36.30
Creditors Days (D.P.O) 46.62 47.75 47.64 47.32
Quick Ratio 0.91 0.77 0.72 0.75
Return on Assets 1.05 -1.46 1.10 0.04
T.N.W/Total Assets 14.68 13.73 15.05 22.83
Return on Capital 1.35 -1.91 1.44 0.05
Rtn on Shareholders Funds 6.56 -9.92 7.07 0.16
Working Capital/Sales -2.33 -7.70 -8.17 -8.66
Borrowing Ratio 361.72 403.25 344.40 231.60
Equity Gearing 18.98 17.31 18.32 30.35
Stock Turnover 88.37 76.51 54.58 114.62
Financial Comparison
The following figures are shown in units of GBP '000
Number of Weeks 52 52 52 52
Accounts Date 31/03/2003 31/03/2002 31/03/2001 31/03/2000
Currency GBP '000 GBP '000 GBP '000 GBP '000
Net Cashflow from Oper. 1,185,000 866,000 1,251,000 1,186,000
Increase in Cash 158,000 -4,000 -30,000 -3,000
Directors Remuneration 1,685 1,529 1,865 3,324
Auditors Remuneration 1,561 1,543 1,247 1,275
Long Term Debt(>12 Months) 6,281,000 6,861,000 6,581,000 6,565,000
Other Deferred Liabs 1,657,000 1,584,000 1,688,000 437,000
Tangible Net Worth(T.N.W) 1,894,000 1,876,000 2,061,000 3,085,000
Equity 2,058,000 2,016,000 2,121,000 3,147,000
Number of Employees 57014 61460 62175 65157
Key Industry Sector Trends
  Company Industry Averages
  31/03/2003 Lower Median Upper
Current Ratio 0.94 0.67 0.90 1.18
Borrowing Ratio 361.72 344.09 207.66 70.23
Return on Capital 1.35 -18.61 3.24 10.50
Creditors Days 46.62 47.21 23.09 12.38
This comparison is based on the results of 61 companies in the same industrial sector: 62101 Scheduled passenger air transport
Financial Summary
Turnover Turnover decreased by more than 8% in the year and totalled GBP 7,688,000,000 for the period.
Operating Profit Totalled GBP 341,000,000 In the year prior a Loss of GBP  12,000,000 was achieved.
Pre Tax The subject made a profit of GBP 135,000,000 compared with a loss of GBP 200,000,000 in the previous period.
Working Capital The company's working capital deficiency decreased in the period and now stands at GBP 179,000,000
Net Worth Net worth increased by 42,000,000 during the period and now stands at GBP 2,058,000,000
Fixed Assets The subjects fixed assets reduced during the year by GBP 928,000,000 to GBP 10,175,000,000 and are now 79% of total assets compared with 81% in the previous year
Long Term Liabilities The companies long term liabilities reduced during the period by 6% and are now 386% of net worth compared with 419% in the previous period
Long Term Liabilities Long term liabilities are now 62% of total liabilities compared with 62% in the previous period
Long Term Liabilities Long term liabilities are 79% of capital employed a decrease of 1% over the previous period

*** End of Report on BRITISH AIRWAYS PLC ***