Annual Financial Statements 2015
As we stress every year, the financial results released today do not present the overall profits of either of the Windrush or Firerush businesses. Instead they present the operating costs of the businesses, and additional sums that may be held back in corporate reserves for investment in future years.
Windrush Ventures Limited
The £3.4m surplus  of Windrush Ventures Limited represents money held in the company in order to continue its programme of re-investment for growth. The amount set aside in 2015 is higher than the previous year in order to meet its ongoing investment objectives.
Operating costs, which include administration, rent, travel and other costs, have increased from £13.0m in 2014 to £16.0m in 2015 as the business has grown and increased its operations. Staff numbers have similarly increased.
As the business continues to grow, Windrush has increased its turnover from £14.2m in 2014 to £19.4m in 2015 in order to set enough aside to cover operating costs and planned investment. Consistent with its expansion strategy, in April 2015 Windrush invested £2.0m in Firerush Ventures Limited via a subscription for Redeemable Preference Shares.
Like other UK companies, the Windrush Group pays corporation taxes on its pre-tax profits, i.e. the surplus that remains after the deduction of operating costs from turnover.
Additionally, in accordance with the requirements of Albanian legislation, Windrush Ventures No 3 LP registered a branch office in Tirana and filed financial statements for the year ending 31 December 2015. The financial statements refer to the project completed by TBA-Government Advisory in 2015. The project focussed on assisting the Albanian Government to strengthen its delivery unit in order to modernise the machinery of government for the benefit of the Albanian people. Specifically the project focussed on good governance, energy, irrigation and drainage to increase farmers’ crop yields and foreign direct investment. The small profit made has been reinvested in the business so that similar projects advising governments can be undertaken.
Firerush Ventures Limited
As a small company Firerush Ventures Limited is required to publish only abbreviated accounts.
Firerush has continued to invest in the expansion of its business and despite incurring a loss for the financial year, the directors remain confident for the future prospects of the company. The company used money retained from previous years (e.g. 2014: profit reserves of £0.7m) and £2.0m of proceeds from the allotment of Redeemable Preference Shares for planned ongoing investment and to meet its result .
In addition to the subscription Firerush has received an assurance of financial support from its beneficial owner, Mr. Blair, as it continues to undertake its expansion plans.
The annual financial statements, including Windrush Ventures Limited and Firerush Ventures Limited, have been submitted to Companies House and are published on this website today.
Windrush and Firerush are the two entities through which commercial activities are conducted and through which the operating costs of the Tony Blair group’s global activities are paid. These companies retain sufficient profits in each year to cover the cost of its annual operations, and also to cover planned investment costs that will arise in future years as a result of expansion in the businesses. This is the financial information that is set out above.
Readers of the financial statements should note that the structure of the business provides: limited liability protection; confidentiality of business results; and transparency for tax purposes.
Mr. Blair is a UK taxpayer and pays full personal tax on all his earnings worldwide.
These accounts do not represent his earnings or the earnings or the profit of his businesses and are not referable to them.
They represent neither the accounts of the charities he founded nor his donations to them.
The financial statements have been audited by KPMG LLP.
 Profit on ordinary activities before taxation.
 Loss for the financial year.