Hi All, I am going to go through the 2019 accounts for Graham Linehan own Ltd which is Delightful Industries limited. So first I just want to say I have been creating Ltd accounts for 6 years on a wide range of industries and size and I am currently training to get fully 1/
qualified as an accountant. I will also say these are only from small company accounts which unlike large companies only show the balance sheet side.

First thing I notice about the accounts is there are only two employees which is most like him and his wife as they are both 2/
directors and are also shareholders both with 50% share of the business. Now looking at his debtors which have decreased but only by a small amount which first of all makes me think that trade in both 19 and 18 are the same (this will be more important later). The cash has 3/
increased from £1,748 to £36,389 which isn’t surprising when you look at the increase in creditors of £29,806. The main increases are Corp tax and other taxation and social security which is most likely PAYE and National insurance but could also include VAT. However normally 4/
VAT is not included in this figure but depends on how the accountants format their accounts.

Now looking at the increase in Corp tax, it has over doubled from £21,234 to £49,430 outstanding. I am assuming for this that 18 Corp tax has not been made, I am making this assumption5/
because of the small decrease in debtors and the increase in cash. Now assuming that this is the case, the tax liability for 19 is £28,196 which at 19% means that the taxable profits are £148,400. Which can include a directors salary which at the high amount of other taxation 6/
and social security means that one or both of the directors have a very high salary, which sadly is not something which can be calculated from the figures in the accounts.

Now looking on the balance sheet the profit and loss account has increased from £358 to £1,085. So what 7/
has happened to the taxable profits of £148,400? My assumption is that it has been taken out as dividend. Now as Graham Linehan has 50% share that means he had 50% of a estimated dividend £147,673 (£148,400 – £727, £727 is the difference in the profit and loss account between 8/
18 and 19). So that means his pre tax income is £73,836.50 plus any directors salary he takes. So he could easily afford to pay for his case instead of crowdfund from low earning supporters. 9/9

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