{"id":38739,"date":"2017-09-21T14:19:36","date_gmt":"2017-09-21T13:19:36","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=38739"},"modified":"2017-09-21T14:19:36","modified_gmt":"2017-09-21T13:19:36","slug":"deliveroos-accounts-take-some-beating","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2017\/09\/21\/deliveroos-accounts-take-some-beating\/","title":{"rendered":"Deliveroos accounts take some beating"},"content":{"rendered":"<p>The parent company of Deliveroo is Roofoods Limited. They've <a href=\"https:\/\/beta.companieshouse.gov.uk\/company\/08167130\/filing-history\" target=\"_blank\" rel=\"noopener\">just published accounts to 31 December 2016<\/a>. This is some profit and loss account:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2017\/09\/21\/deliveroos-accounts-take-some-beating\/screen-shot-2017-09-21-at-14-09-40\/\" rel=\"attachment wp-att-38740\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-38740\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.09.40-550x572.png\" alt=\"\" width=\"550\" height=\"572\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.09.40-550x572.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.09.40-288x300.png 288w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.09.40-768x799.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.09.40-385x400.png 385w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.09.40.png 1196w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>I am sure the company will argue that a gross profit margin of 0.845% -or near enough nothing, meaning that in effect they only just cover the cost they pay out to directly deliver food - is just fine at this stage in the company's development and that investors are more than happy to inject the money required to cover the \u00a3142 million of admin expenses that actually exceeded turnover in the year, but that's still one heck of a profit and loss account, especially when the company admits thats one of its biggest risks is:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2017\/09\/21\/deliveroos-accounts-take-some-beating\/screen-shot-2017-09-21-at-14-14-51\/\" rel=\"attachment wp-att-38741\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-38741\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.14.51-550x296.png\" alt=\"\" width=\"550\" height=\"296\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.14.51-550x296.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.14.51-768x413.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.14.51-600x322.png 600w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-21-at-14.14.51.png 1094w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>I'd put having to actually employ the staff doing the delivery in that category. Right now not one of the company's staff appears to actually get on a bike to make a living: 80% of them are in sales and marketing. If the employment model changes that tiny gross margin looks like it could become a gross loss.<\/p>\n<p>One to watch, but a sure sign that it's not just employees at risk in the gig economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The parent company of Deliveroo is Roofoods Limited. They&#8217;ve just published accounts to 31 December 2016. This is some profit and loss account: I am<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2017\/09\/21\/deliveroos-accounts-take-some-beating\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-38739","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/38739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=38739"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/38739\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=38739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=38739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=38739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}