The National Ploughing Association recorded a loss of €605,579 in 2021, as a result of the flagship event being cancelled for a second year due to the COVID-19 pandemic.
At the end of last year, its accounts show it had retained earnings of €11.7m and recorded a turnover of €105,219. Over the last two years, it has recorded losses of over €1.2m.
Losses for 2021 would have been higher, and topped over €1m, only for other operating income the NPA received.
It received €391,171 after the “disposal of investments” and received a Government grant worth €75,000.
The NPA, like many businesses over the last number of years, also availed of the Government’s Wage Subsidy Scheme.
This resulted in income of €79,524 last year, up from €55,831 in 2020.
Overall, other operating income last year came to €545,695, up from the €61,831 it generated in the previous year.
Administrative expenses at the NPA increased from €809,061 in 2020 to €1.1m last year and its accounts show it employed two directors and five administrative staff.
The accounts filed by NPA state that the principal activity of the company continues “to be the support and encouragement of agriculture in Ireland”.
Following a three-year hiatus due to the pandemic, Ploughing 2022 will return this year, taking place from 20 to 22 September in Ratheniska, Co Laois.