Babyshambles singer Pete Doherty - pictured clutching what we can only assume is someone else's award - is next to broke, apparently.
Of his two businesses, Babyshambles Touring and Babyshambles Limited, only one, the latter, has made a profit recently, to the tune of only (only?) £1,910.
The former interest made a loss of a whopping £21,731. That's even more than what I owe to the bank and those student loan people. Oh, wait.
.. it's not.
The Daily Mirror quotes a source: "His accounts don't make pretty reading. To see someone with his talent unable to make any money is a waste. What money he has had has been spent on drugs.
"
And Ribena and Curly Wurlys, if recent press is to be believed. Babyshambles' last album, Down In Albion, has so far shifted 100,000 copies; the next is forthcoming through Parlophone, although that same source added:
"He has signed a new record deal with Babyshambles and is said to have a big advance, but it will be interesting to to see where that money is this time next year."
that story tells nothing about his actual finances and if he is personally broke.
In any event, the vast majority of new companies fail to make a profit initially and many run at a loss for years before coming good.
It also makes no mention of his personal assets, the level of his shareholdings in the companies and any salary he has dirived from his directorships of them.
also, since they're both inevitably based off the same product, their primary purposes are likely to be to reduce the amount of tax paid, and the reduce liability in the event of something going horribly wrong.
Also, he's dating KATE MOSS. A freakin' MILLIONAIRE.
Doubt he struggles to get his grubby mitts on some cash.
Is that either the Daily Mirror's or its source knows sod all about finance. The fact that the companies show little retained profit means diddly-squat in terms of how much money Pete Doherty as an individual has or might have taken out of the company. Since these accounts only show a balance sheet and no profit loss account neither the Mirror nor the source can demonstrate how much money Mr Doherty has taken out of the company and into his own assets.
Also the accounts were made up to 31 March 2006 and so are a year out of date.
He may well be broke but these accounts don't demonstrate that.
Sorry for being the boring accountant posting here!
NewcastleBackFour I'm going to accept everything you say about any kind of deficit.
Funny then that one of the few men in the UK less talented than Doherty, Titus Bramble, is a millionaire.
Maybe he can buy the wanker a few cartons of blackcurrant juice and some chocs.
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