(06 Jan 2022, 2:41 pm)streetdeckfan wrote Reading a bit further into the accounts, it seems like that is the case. While I'm no accountant, it looks like at the end of each day all money is sent back to DB, and Arriva have to ask nicely to use any of it.
That's not uncommon for a subsidiary, unless they were operating as an arms-length organisation/carve out.
Looking at Arriva Plc (Company number 00347103) will give you a fuller picture.