Red Letter Days, the experience company which was rescued from administration by
Dragons’ Den stars Peter Jones and Theo Paphitis, has seen profit before tax increase
nine per cent from £372k to £405k, for the year ending 31 December 2011 as its B2B business grows.
According to the latest accounts filed with Companies House,
Red Letter Days – which was shored up with directors' loans of £6m by the duo after it collapsed in 2005 –
also saw turnover for the year increase seven per cent, from £12.1m in 2010 to
£13m in 2011. The company had posted a loss of £572k in 2009.
The balance sheet,
however, showed that net current liabilities were £5.4m in 2011 (£4.1m in 2010)
and the shareholders' deficit was still at £10m.
The Directors’ report said: “The business is well positioned
to benefit from the investment in technology and product and marketing
initiatives made over the past few years along with the improvement in the
quality of our customer journey and overall experience. The growth we are
seeing within the B2B market is very encouraging and it will continue to be a
On the corporate side, Red Letter Days runs Red Letter Days
Events, which offers team building experiences, incentives and client
Pictured: Theo Paphitis and Peter Jones