Accumulated profits at the plant hire firm controlled by Minister of State at the Department of Agriculture, Michael Healy Rae TD last year increased to €808,911.
New accounts filed by the Co Kerry-based Minister Healy Rae’s Roughty Plant Hire Ltd show that accumulated profits increased by €74,887 from €734,024 to €808,911 in the 12 months to the end of April last.
The post tax €74,887 profit at the plant hire services business for the 12 months is an 80pc increase on the €41,415 post tax profit for the prior 12 months.
Four Healy Raes, Michael and his wife, Eileen, along with sons, Ian and Kevin, sit on the board of the firm, and aggregate pay to directors last year dipped from €70,885 to €66,783.
During the 12 months, the company’s cash funds more than doubled from €198,748 to €434,224.
The book value of the firm's tangible assets stood at €473,682.
Numbers employed at Kilgarvan-based business during the year declined from 12 to five.
The accounts, which were signed off by Michael Healy Rae and Eileen Healy Rae on January 17th, show that the profit for the year takes account of non-cash depreciation costs of €84,204.
Separate accounts for another Healy Rae firm, which operates a fuel station and grocery shop in Kilgarvan, show that it recorded post-tax losses of €26,986 last year.
The new accounts for Black Cap & Company Ltd show that the firm recorded the post tax losses of €26,986 in the 12 months to the end of April 2024 are down sharply on the post tax losses of €67,583 in the prior year.
Last year, the number employed by the company declined by one to 15, including directors.
Minister Healy Rae sits on the board of Black Cap & Company Ltd with his wife, Eileen, who is the majority shareholder in the business, and aggregate pay to the two last year totalled €49,13,2 which included pension contributions of €4,400
At the end of April 2024, the firm owed Deputy Healy Rae €148,931.
The company operates from a building housing a shop at Kilgarvan village, and the accounts confirm that the building is owned by Minister Healy Rae. Last year, the firm paid €8,000 in rent to Minister Healy Rae.
The loss last year takes account of combined non-cash depreciation and amortisation costs of €34,476.
The loss for 2024 resulted in the company having accumulated losses of €35,815 at the end of April.
The company’s cash funds declined from €46,541 to €36,437.
The book value of the company’s tangible assets declined from €94,723 to €69,429.
Separately, Purchase Order figures published by the Departmentt of Children, Equality, Disability, Integration and Youth show that a Co Kerry guesthouse operated by a firm, Roughty Properties Ltd owned by Deputy Michael Healy-Rae has received €1.22 million over two years and three months for accommodating Ukrainians.
Roughty Properties Ltd was incorporated in 2022 and has to file its first set of accounts. The firm is just one of four where Deputy Healy Rae is listed as a director, and they include Michael Healy Rae Properties Ltd.
Deputy Healy-Rae’s entry to the Dail’s members’ register of interests lists his other occupations as postmaster, farmer, service station owner and owner of rental properties. The Kerry deputy also has shares in the New York Times.
Deputy Healy Rae also describes himself as an owner of rental properties, and his entry on the Diál register lists 17 separate properties for letting,g including 14 houses.
Deputy Healy Rae also has 146 acres of farmland/forestry.
