Annual Financial Statements 2013
The latest annual financial statements – including both Windrush Ventures Limited and Firerush Ventures Limited – have been submitted to Companies House and are published on this website today.
These are the financial statements of the two companies through which the operating costs of the Tony Blair group’s global activities are paid. They do not represent his earnings or the earnings or the profit of his businesses and are not referable to them.
They do not represent either the accounts of his charities or his donations to them.
Although staff numbers have increased as well as the number of countries in which it operates the Windrush statements show that it has reduced running costs (eg, administration, rent, travel and other costs) from £12.6m in 2012 to £12.1m in 2013.
The surplus for the financial year represents money that is continuing to be held in the company for re-investment in expanding the business. Last year the Windrush Group retained a larger surplus in order to make a one-off planned investment on behalf of the Group.
As the investment cost has decreased and the operating costs have shown a small decline, money held in the company to cover these costs has also decreased, from £16.0m in 2013 to £14.9m in 2012.
As a smaller company Firerush only publishes abbreviated accounts. It is a company that is solely for administering the costs of the business. The £1.5m surplus for the financial year therefore represents the running costs and money retained for reinvestment in the business; on which corporation tax is paid.
Full corporation tax is paid by all the businesses.
The money made by Mr Blair from the Windrush and Firerush businesses is not published in these accounts; it is though, subject to full personal income tax
Mr Blair continues to be a UK taxpayer and pays full personal tax on all his earnings worldwide.
31 December 2013