Thursday 10 January 2013, 11:57 | By Andy Malt
Cowell takes nearly £900,000 salary from one of his companies
Simon Cowell took a £896,935 salary from one of his limited companies in 2011/2012 according to accounts filed with Companies House, and is also owed money by the entity.
Maidmetal is one of Cowell’s companies, described as being involved in ‘developing talent and intellectual property’. It’s not known which of Cowell’s projects are funnelled through Maidmetal, though he is the sole director of the business and owns 99.9% of the shares.
Cowell’s main companies, of course, fall under the Simco umbrella, his joint venture with Sony Music that operates as Syco, though he has various other interests too. As previously reported, a separate set of Companies House accounts showed that Simco made £22.9 million in profits in 2011/12, a massive increase on the previous year mainly as a result of Syco’s increased US-based TV output.