‘X Factor’ judge Louis Walsh sees cash pile jump 40% at Brill

The cash pile at the entertainment firm owned by pop guru Louis Walsh jumped last year to €475,258.

New accounts for Brill Management Ltd, filed by the X Factor judge, show that the cash pile at Brill Management Ltd increased 40 per cent in the 12 months to the end of February this year from €340,443 in the previous year.

The amount owed to the firm by debtors last year fell sharply to €167,995 from €1.12 million in early 2016.

The increase in cash at the company coincided with Walsh signing a reported £1 million deal as he returned to help rescue ITV's X Factor from plummeting ratings.

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Prior to his one-year sabbatical from the X Factor, Walsh enjoyed a record-breaking 11-year stint on X Factor.

However, Walsh's presence on the show this season has failed to turn around its fortunes with BBC's Strictly Come Dancing scoring nearly twice the number of viewers in a recent show.

Westlife to Jedward

Pay to the company’s two directors last year declined from €241,370 to €225,139. The firm employs three people, including directors Walsh and Desmond Morris, and paid out just shy of €270,000 in wages, including directors’ remuneration.

The popular Kiltimagh man, who turned 65 in August, has managed some of Ireland's most successful bands such as Westlife and Boyzone. Walsh also oversaw Jedward's rise to stardom and he is currently managing the career of Shane Filan with whom he has worked with for the past 18 years.

The value of the firm’s financial assets last year increased from €43,083 to €57,408 with the value of its tangible assets increasing marginally from €72,442 to €72,568.

Walsh also has a sizeable art collection that includes works by Andy Warhol and David Hockney.