TV company set up by Jeremy Clarkson, Richard Hammond and James May turned over £3.5m in Covid-hit 2020 – down from £25m the year before
- Huge losses for firm set up by Jeremy Clarkson, Richard Hammond & James May
- Chump & Sons Limited saw its turnover dwindle to just £3.5million in 2020
- The firm manages the The Grand Tour income and made £335,000 loss last year
- No dividends paid to four directors last year, with £5million owed to creditors
A TV company established by Top Gear presenters Jeremy Clarkson, Richard Hammond and James May has suffered huge losses since the beginning of the pandemic, newly-filed accounts show.
W. Chump & Sons Limited saw its turnover dwindle to just £3.5million in 2020, down from £25million in 2019.
The company manages the stars’ The Grand Tour income and made a loss of £335,000 last year, after generating £412,000 profit in 2019.
A note of ‘going concern’ in the annual accounts published on Companies House stated: ‘The directors have considered the effect of the Covid-19 outbreak during the year.
‘Due to the international travel restrictions still in place, the production schedule resumed with UK based productions thus the directors continue to adopt the going concern basis of accounting in preparing the final statements.’
In 2015, presenters Richard Hammond, James May, Jeremy Clarkson and Andy Wilman, a former Top Gear executive producer, signed a bumper three-deal series with Amazon to create The Grand Tour, reportedly worth £160million
New series: The Grand Tour: Carnage a Trois began airing on Amazon Prime on December 17
No dividends were paid to the four directors in 2020 – Clarkson, Hammond, May or producer Andy Wilman – as was the case in 2019.
The firm’s current assets are worth nearly £5.4million but the business owes £5million to creditors which must be paid back within the year.
The company made a pre-tax loss of £368,659 but appears to have recovered £33,642 from the taxman.
Shareholders’ funds are more promising at £3.8m compared to £4.2m in 2019.
The company’s name is reportedly derived from a combination of the founders’ initials, with the ‘w’ coming from co-director and The Grand Tour producer Mr Wilman.
James May, Jeremy Clarkson and Richard Hammond set up W. Chump & Sons Limited to manage income from The Grand Tour
Jeremy Clarkson filming The Grand Tour for Amazon TV. The four men together were largely responsible for reviving Top Gear from its days as stuffy motoring show to one of the BBC’s flagship entertainment programmes
In 2015, Clarkson, Hammond, May and Wilman, a former Top Gear executive producer, signed a bumper three-deal series with Amazon to create The Grand Tour.
The megabucks deal was reportedly worth £160million. The four then promptly set up W Chump & Sons.
The accounts, which show the company’s figures up until December 2020, adds: ‘The directors are keen to continue focusing on producing quality programming whilst ensuring that the company’s overheads are kept stable.
‘The directors are satisfied with the results for the year and the financial position at the year end and will continue to pursue business opportunities as they arise in the future.’
Source: Read Full Article