The National Ploughing Association (NPA) reported an operating profit of €217,624 for the year ended 31 January 2023.

These accounts include revenues from the 2022 Ploughing event, the first since the end of COVID-19 restrictions.

A tax expense of €289,833 meant that, overall, the NPA reported a small loss of the year.

The performance followed two years where operating losses in excess of €600,000 were incurred.

Total turnover for the year was €6.77m, a figure that was even far ahead of the pre-COVID event in 2019 where turnover was €5.6m and 2018 which was below €5m.

Increased employment

Employment at the association increased from seven to 18, while the number of directors remains static at two.

Key management remuneration for the year was at €220,215, a figure in line with the 2019 and 2020 level.

Managing director Anna May McHugh, who is celebrating her 50th year in the position, received a €15,000 payment for supply of office and yard facilities for storage of trailers, ticket huts, etc. Again, this payment is in line with the cost reported in previous years.

Among its €9.93m of financial assets, the NPA holds a small amount of prize bonds valued at €27,082 in recent years there has been annual additions to that total of between €50 and €200. There was no addition in the year ended January 2023.