Sir Chris Hoy, Britain's most decorated Olympian, has enjoyed golden success away from the velodrome after his company made more than £1 million.

The Edinburgh-born cyclist's earnings are revealed in official documents, which do not take into account his lucrative deals from sponsorships since his success at London 2012.

Sir Chris, 37, has featured in many TV adverts and billboard campaigns after winning a record six Olympic gold medals – including triumphs in the team sprint and keirin last summer.

Papers lodged with Companies House – which only go up to the end of June, a month before the UK hosted the Olympics – show his Trackstars firm has total assets of £1.2m. This includes £530,000 in investments and £259,165 in a bank account.

The file shows the remarkable impact his cycling success has had on the business's fortunes.

He set up Trackstars Ltd in 2005, a year after winning gold in the 1km track time trial at the Athens Olympics.

At the time, Sir Chris – who hopes to compete in the 2014 Commonwealth Games in Glasgow – was earning only £24,000 a year from lottery grants, as well as small-scale sponsorship deals.

But the cash poured in after Beijing in 2008 when he became the first Briton in 100 years to win three gold medals at a single games.

Between 2011 and 2012, Trackstars had total assets of £400,000, although records showed Sir Chris owed £772,000 to unnamed creditors.

He took out more than £1m in dividends between 2009 and 2011, but did not receive any in the last financial year, which ended in June 2012.

It is standard practice for successful sports stars to set up companies to ensure they live comfortably after retiring from competition.

Since 2008, Sir Chris – who now lives in Salford, Greater Manchester – has been the face of advertising campaigns for the likes of Gillette and Kellogg's Bran Flakes.

He also has lucrative deals with Highland Spring and Adidas and is about to launch his own range of bicycles – called Hoy Bikes.

Last year, Sir Chris was forced to defend his tax arrangements after it emerged he received a loan from Trackstars.

He vehemently denied that he or his firm disguised the remuneration, adding that he takes his responsibilities as a taxpayer "as seriously as I do as an athlete".

He admitted he had borrowed almost £325,000 from the company in 2010, but insisted it was fully repaid in October 2011. He said: "Everything I have done is as a UK resident, and is UK taxable and not offshore.

"The dividends that I took to repay the loan were, in fact, taxed at the highest rate.

"I saw an opportunity to buy property and with the guidance of my advisers I borrowed money from my company to do so. The loan was repaid shortly thereafter by declaration of fully taxable dividends."

A spokesman for the cyclist declined to comment.