James Middleton will be hoping his fortunes turn around in 2015. The Duchess of Cambridge's younger brother is no doubt hoping this is the year he will make a profit with his cake business, after recording a loss in 2014 for the third year in a row.
Accounts filed this week show that James' cake and bread brand, Nice Group London Limited, made a total loss of £23,353 from March 2013 to March 2014.
James Middleton pictured with his sister Pippa Middleton
His company, set up in April 2011, is yet to make a profit; it lost £19,928 in its first year of trading, and £21,148 in the second. Nice Group London Limited also owes creditors £76,394.
No doubt 27-year-old James has turned to his parents, Michael and Carole Middleton, for advice. They made millions through their Party Pieces company, selling party supplies and decorations.
The family also appear to have helped James out financially. In the accounts filed at Companies House, under a section entitled 'Creditors: Amounts falling due with one year', it reads, "The bank overdraft is secured by a member of the director's family."
James has previously spoken out to defend his brand's losses. "Nice Group is a start-up company and as you can imagine there are overheads needed to start a company," he told the MailOnline. "It is not uncommon for start-up companies to make a loss in the early stages of developments and it is not something I am concerned with right now."
James left Edinburgh University after just a year to go into business, and set up Nice Group in April 2011 – the same month that his older sister married Prince William.
One of his firm's ventures includes Nice Cakes, which sells items including personalised cupcakes, the Cake Kit Company, and Boomf, which personalises marshmallows by printing photographs on them.