Recently filed accounts at Companies House show Ministry of Sound, which failed with a new bar format in Harrogate this year, has suffered a slide in profits. Operating profits fell from £3.2m to £1.3m in the year to last December, on turnover up 39% to £42m. However, the company said this was not a true reflection of performance because a significant amount of money is passed to its offshore-based parent in the form of royalties. This vehicle also collects income from the company’s operations overseas. This meant profit had been about three times higher than stated in the UK accounts. The Sunday Times (Business) 23/12/07 page 3