Is Who Dares Wins One Loft Race Really Making A LOSS Every Year?​

The self proclaimed totally honest, transparent and man of integrity Gary Tomlinson legally has to file yearly accounts for his one loft race. 

According to companies house here  his company has made a loss for the last two yearly accounting periods. 

He is a director of three active companies: 

Who Dares Wins (Alfreton) Ltd  

WDW One Loft Breeding Stud Ltd

Pioneer Racing Pigeons Ltd  

The accounts for 2020 here show the company making a loss. 

The accounts for 2021 here show the company making a loss.

 

Over the two year in question Who Dares Wins Race has has a total income of over £400,000. He has prize money to pay out, dorn and medication, fuel , transport costs etc etc, but even so the company still made a loss?

How can one of the most successful UK based OLRs make a loss for two years running?