Corporate records show that since it opened in Australia in 2015, Dinner by Heston Blumenthal has, on paper, been loss-making and has paid no company tax. In 2017 the business reported turnover of $15million but a loss of $308,526 after paying large “joint venture fees” of $733,584.
The year before, “joint venture fees” of about $800,000 were recorded as revenue, not as an expense.
Limited financial records show that parent company Tipsy Cake enjoys an interest-free loan of $750,000 from Crown Melbourne.
It also has a separate, unsecured loan from a related company on Nevis that charges no interest and has no set repayment date.