National Ploughing Association grew net assets to €11.9m
Latest financial accounts for the National Ploughing Association (NPA), which organises the annual ploughing championships, show that its net assets increased to €11, 940,701 in the year to the end of January 2024.
The directors' report and financial statements show that the profit for the financial year - after tax -totalled €300,000 - a year earlier the NPA had reported a loss of €72,209.
The managing director of the association is Anna May McHugh who has been involved with the NPA for more than 50 years.
According to the NPA its principal activities continues to "be the support and encouragement of agriculture in Ireland".
The 2023 National Ploughing Championships attracted 200,550 people over the three days that it took place in September of that year.
The association's latest financial statements show that the NPA had a turnover of more than €6.1 million in the year ended January 31, 2024 - down on the result of over €6.7 million to the year ending January 2023.
However in the 12 months to the end of January 2024 the association's administrative expenses increased by more than half a million euro to hit €7,124,541.
The directors' report and financial statements also detail that the NPA's "cash at bank and in hand" increased to €3.3 million in the 12 months to the end of January 2024 - up from €1.3 million a year earlier.
The financial statement also outlines that the NPA made a profit of €894,751 "on disposal of investments" in the year to the end of January 2024.
The organisation noted that it had received no government grants over that period.
In the year to the end of January 2024, 19 people - including two directors were employed by the NPA.
The NPA has confirmed that the 2025 National Ploughing Championships will be held in Screggan, Tullamore, Co. Offaly on September 16, 17, 18.
The association has said that the three day event "is set to bring millions into the local economy mainly through the hospitality industry but also utilising many local services in order to build an event that requires upwards of 700 acres".
