Ant McPartlin and Declan Donnelly suffer a rare financial setback

EXCLUSIVE: Ant McPartlin and Declan Donnelly suffer a rare financial setback as their business sinks in value by £2million in a year

Ant McPartlin and Declan Donnelly have seen the value of one of their businesses sink by more than £2million in a year in a rare financial setback.

The dynamic television duo own a ‘creative ideas company’ and its value has reduced from £3.5million to £1.4million, MailOnline can reveal.

Ant and Dec’s company – known as Mitre Studios Limited – brainstorms new TV show ideas which can be developed and sold on.

Ouch! Ant McPartlin and Declan Donnelly have seen the value of one of their businesses sink by more than £2million in a year in a rare financial setback (pictured May 2022)

New accounts reveal that the company’s cash reserves slumped between 2020 and 2021 during the height of the pandemic.

The company paid a corporation tax bill in 2021 of £98,351 which would translate to profits of around £500,00, up from the previous year when the tax bill was £72,679.

It is the first year that the firm’s value has fallen, having risen steadily each year since 2015 when it was worth around £700,000. 

Business: The dynamic television duo own a ‘creative ideas company’ and its value has reduced from £3.5million to £1.4million, MailOnline can reveal (pictured May 2022)

Ant 46, and Dec, 47, are the company’s sole shareholders.

Mitre Studios takes its name from the pub turned youth club which was at the centre of the pair’s Byker Grove series which launched their careers. 

The company increased staff from six to eight people over the course of 2021.

The paperwork said turnover for the business comes from licensing the ‘intellectual property of the entertainers professionally known as Ant and Dec, and production fees.’

While reserves may be down, the pair are unlikely to be overly concerned as they both have fortunes estimated at £62 million from their careers.

They are also reported to have recently agreed a new £30 million deal earlier this year to keep them with ITV for the next five years.

Big ideas! Ant and Dec’s company – known as Mitre Studios Limited – brainstorms new TV show ideas which can be developed and sold on (pictured November 2020)

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