Payment revealed in Heatherwick Studio鈥檚 latest accounts

Thomas Heatherwick was handed a 拢1.4m dividend latest accounts for his practice Heatherwick Studio reveal, taking the amount he has been paid in dividends in the past three years to more than 拢7m.

The firm鈥檚 2021 accounts filed at Companies House show Heatherwick was handed just under 拢1.4m in dividends in the year to March 2021 鈥� on top of the 拢1.75m and 拢4m he picked up in the previous two years.

They add that Heatherwick was paid a further 拢538,000 by the company during the period, down from the 拢651,000 he received in 2020.

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The firm is behind plans to redevelop the part-demolished Broadmarsh shopping mall in Nottingham

Heatherwick is the sole director of Heatherwick Studio which last year saw turnover slip 21% to 拢21m with pre-tax profit tumbling 50% to 拢2.8m. According to the accounts, 拢1.3m of its profit came from property rental income.

The practice is behind a string of high-profile schemes including the new Google headquarters building at King鈥檚 Cross, which it is designing with BIG, as well as a planned 拢500m makeover of the 1970s Broadmarsh shopping centre in Nottingham.

In the accounts, which were signed off by Heatherwick in August but only filed last week, the firm said it had paid back the furlough money it had received from the government鈥檚 Coronavirus Jobs Retention Scheme in the first past of the financial year.

It was forced to furlough some of its staff because of the first covid lockdown imposed by prime minister Boris Johnson on 23 March last year. It declined to say how many it furloughed or how much it had received.

Thomas Heatherwick talking about the garden bridge at the NLA annual lecture. The slide shows 'street furniture' designed for the bridge by Heatherwick Studio

Source: Elizabeth Hopkirk

Thomas Heatherwick pictured five years ago talking about the firm鈥檚 Garden Bridge project which was later scrapped

But the accounts do reveal that staff numbers dropped from 205 in 2020 to 158 last year 鈥� a fall of 23%.

Staff returned to its King鈥檚 Cross base from last summer and the firm said it had taken the decision to pay back the furlough money 鈥渄ue to the improving financial performance of the company as the year progressed鈥�.

Heatherwick Studio鈥檚 biggest market is Asia with 拢8.9m of revenue, up from 拢8.3m last time. Its previous biggest, the US, saw income slide from 拢9.8m to 拢3.7m. Business in the UK fell 拢160,000 to 拢4.9m.

 

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