At last we have managed to find a Crowdcube funded company that has filed accounts showing a profit.
BigBarn CIC raised money on Crowdcube in 2011. The latest accounts show a profit for the year of £4,000. The accounts state that the Director took no remuneration for the year. The previous year the company made £13,000 profit and the Director took no remuneration.
One has to hope that the investors get a return before the Director expires. At this rate any return will be some decades off.
Still the good news is this company has not closed like so many funded via Crowdcube. We expect Crowdcube's PR to run with this success story shortly.
What about their revenues? Growing?
ReplyDeleteGood point - revenues grew from 133k to 143k but GPM wiped out this and expenses increased £13k so overall profit down. Its not going anywhere anytime soon.
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