GWYNETH PALTROW ‘s GOOP hemorrhaging cash – financial records.

When it was first revealed that Paltrow’s lifestyle brand was losing money, she insisted “Those numbers are based on filings from a couple of years ago, so you shouldn’t believe everuthing your read.”

Yet the latest corporate documents for the lifestyle company show that the financial state of affairs has only grown more dire since then — with both debts and losses mounting!

Paltrow opted to file only an “abbreviated balance sheet” for GOOP for 2013, obscuring the full nature of the company’s financial issues. But what the report does show is not looking good.

According to the corporate financial records filed in the U.K. last month and obtained by RadarOnline, the company’s assets fell from $848,226 (£530,184) in 2012 to $752,210 (£476,410) in 2013.

Worse, Goop has $1,626,295 (£1,016,496) in debts falling due in the next year. In 2012, they only faced upcoming payments of $1,155,330 (£722,111).

Shareholders’ funds nose-dived, from a deficit of $284,449 (£177,788) in 2012 to $837,087 (523,200) in 2013.

Despite the dire financial data, the report notes, “As the company started product sales in June, 2012, the directors are of the opinion that predicted profits will provide sufficient resources to enable to the company to continue trading for the foreseeable future.”

READ The Shocking Corporate Filings For 2013