EXCLUSIVE: Little Mix take ANOTHER financial hit as their company records a £1.4million loss – after touring firm suffers £2.6million shortfall
Little Mix have revealed another £1.4 million dent to their fortune lost as the band prepared to break up after 11 years together.
Reserves in their company Eternal Dance Media Limited slumped from £4.9 million to £3.5 million, documents just published show.
The figures cover 2021 – the band’s last full year together – and come on top of a £2.6 million loss for their touring company, Eternal Magic Touring, which was revealed last week.
Financial loss: Little Mix have revealed another £1.4 million dent to their fortune lost as the band prepared to break up after 11 years together
It means the value of the two companies dropped from £12.5 million to £8.5 million – £4 million in 12 months.
Eternal Dance Media had a tax bill of just under £90,000, which suggest they made a profit of £450,000, compared to the tax bill of £210,000 the previous year, which would have meant profits in excess of £1 million.
The accounts cover the release of their Between Us album which came out in November, but it is unlikely much of the sales revenue would have been included in the most recent figures.
Taking a hit: Reserves in their company Eternal Dance Media Limited slumped from £4.9 million to £3.5 million, documents just published show
Shortfall: The figures cover 2021 – the band’s last full year together – and come on top of a £2.6 million loss for their touring company, Eternal Magic Touring, which was revealed last week
The band are taking time out after 11 years together which began when they won the ITV show the X Factor.
The split followed the departure of Jesy Nelson, who left in December 2020. The rest of the band – members Jade Thirlwall, 29, Perrie Edwards, 28, and Leigh-Anne Pinnock, 30, – initially decided to play on, but then opted for a break to pursue individual projects.
The Shout Out To My Ex band are said to be worth a staggering £54 million and now figure in the Sunday Times Rich list.
Money worries: Accounts for the band’s gigging company Eternal Magic Touring show that it went down in value from £7.6 million to £5 million
Success: The band were recently onstage in Manchester (pictured) but their touring account has suffered a notable loss over the last 12 months
Elsewhere accounts for the band’s gigging company show that it went down in value from £7.6 million to £5 million.
The figures for Eternal Magic Touring cover the 12 months to the end of August last year and the period in which Jesy Nelson left.
Paperwork references her departure in a section on employees which says the number in the company went down from four to three.
Cash reserves in the firm fell from £9.4 million to £7.1 million and the company owed creditors, who are not named, £2.2 million.
Jesy left her band members in December 2020 and the newly published accounts cover the 12 months from September 2020 to the end of August last year.