James Middleton's cake company fails to make a profit for a SECOND year - registering another £20,000 LOSS

  • Nice Group London Limited made total loss of £21,148 in its second year
  • Company, set up in April 2011, made a loss of £19,928 the year before
  • Accounts show he has turned to family for financial help

By Daily Mail Reporter

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James Middleton's cake and bread company Nice Group London Limited made a total loss of £21,148 for the 12 months to March 2013, the latest accounts filed this week have shown

James Middleton's cake and bread company Nice Group London Limited made a total loss of £21,148 for the 12 months to March 2013, the latest accounts filed this week have shown

The brother of the Duchess of Cambridge has failed to make a profit with his food business for a second year.

James Middleton's cake and bread company Nice Group London Limited made a total loss of £21,148 for the 12 months to March 2013, the latest accounts filed this week have shown.

It means the company, which was set up in April 2011, is yet to post a profit, having lost £19,928 in it's first year of trading. The company also owes creditors £35,951.

Mr Middleton meanwhile has had to ask his family for financial help for the business, according to the accounts.

Under a section titled 'Creditors. Amounts falling due within one year', it reads: 'The bank overdraft is secured by a member of the director's family'.

Mr Middleton, 26, a former public school boy, dropped out of the University of Edinburgh in 2006 after a year of studying to go into business.

But he has so far failed to recreate the success of his parents, Carol and Michael, who made millions with their own Party Pieces venture.

Mr Middleton last year told MailOnline: 'Nice Group is a start-up company and as you can imagine there are overheads needed to start a company.

'I made the decision to finance the business myself along with a loan rather than go to investors.

'This has its pros and cons, it does mean things don’t move as quickly as I would like but it does mean I keep complete ownership and control over my company.

'Further down the line I may look to open the doors for investors but I will see how things go.

Mr Middleton, pictured with his sister Pippa, has had to ask his family for financial help for his business, according to the accounts

Mr Middleton, pictured with his sister Pippa, has had to ask his family for financial help for his business, according to the accounts

'It is not uncommon for start-up companies to make a loss in the early stages of development and it is not something I am concerned about right now.

'On the contrary I am very excited as after running a pilot over 2012, Nice Cakes will be officially launching later this year with a brand new website and range of products which I am very excited about.'

 

Mr Middleton has also spoken about Cake Kit, which he said had been nominated for four business awards.

He has also described working 14 hour days and how he loved 'being my own boss'.

Mr Middleton's parents, Carol and Michael, have made millions with their own Party Pieces venture

Mr Middleton's parents, Carol and Michael, have made millions with their own Party Pieces venture

Nice Group London is registered to the family's trading headquarters close to their Berkshire home.

It filed the accounts signed by Mr Middleton - the sole director and shareholder - with Companies House. The paperwork covers the company's second full year of trading.

Mr Middleton is also a director at Nice Cakes, Nice Wine and The Cake Kit Company, all of which filed dormant accounts in September last year.

He embarrassed the Royals in 2011 with a range of 'rude' products, including a 'stud muffin' cake featuring a picture of a man and the caption: 'A willy that wriggles and gives me the giggles'.

The comments below have been moderated in advance.

ALL new businesses are expected to make a loss for the first three years; even by the taxman.

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Why is this news. Many similar size businesses take several years to start showing a profit and neither the losses nor the debt are anything unusual either.Why the DM obsession with the Middletons? It's uninteresting and James, at least, doesn't seem to seek attention.

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like he gives a 'cupcake' mummy and daddy are absolutely loaded and he is now related to the Royals, reckon that means he is set for life . Jammy Git !

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Some nasty comments here just because of who his sister is. I made a loss for the first 3 years after starting my business. I'm now 15 years in and work hard to make a decent profit and I employ many people so good luck to the lad. And shame on people for having a go at him for the way he looks. If the boot were on the other foot and your face was in the DM do you think everyone would think you were perfect?

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I'm guessing he's in the news because his last name is Middleton?

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Has anyone ever looked at those daft cakes? It's no surprise. What an idiot. He thought he could produce something and it would automatically do well due to his connection.

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Just goes to prove, you can't always have your cake and eat it (sorry).

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I am really tired about hearing about this awful family !

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Rofl that's the funniest headline I've read all day!

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Oh are we supposed to be surprised

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