Newly-filed accounts from the production company created by The Grand Tour presenters Jeremy Clarkson, Richard Hammond, and James May has seen massive losses since the beginning of the pandemic. The company, W. Chump & Sons Limited, saw its revenue fall from £25 million in 2019 to just £3.5 million in 2020.
With expenses, the company made a loss of £335,000 in 2020 compared to a profit of £412,000 in 2019.
A note on the annual accounts of the company noted the following:
“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.”
Just like 2019, the four directors of the firm, Jeremy Clarkson, Richard Hammond, James May, and Andy Wilman, didn’t take dividends in 2020. Currently, the company owes £5 million to creditors which will be paid back within the year, and its current assets are worth £5.4 million. After tax, the company is owed £33,642 from HMRC.
Shareholders’ funds have dropped from £4.2 million in 2019 to £3.8 million in 2020.
The company was started as the showrunners were confirmed to be creating their car show for Amazon Prime Video for a reported £160 million. The name, W. Chump & Sons came from the mixing of the founders’ initials.
The current accounts also state the following: “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.”