Company behind Ballymaloe House posts €111,000 loss

THE COMPANY behind Ballymaloe House, the country house hotel and restaurant run by the Allen family, incurred an operating loss of €111,043 last year, though the company had retained profits of €2.3 million at the year end.

Accounts for Yeats Room Limited, trading as Ballymaloe House, for the year ended October 31st, 2010, state that the overall reduction in the economy in Ireland resulted in the company incurring an operating loss during the 2010 financial year. The directors’ report also refers to the “the challenging operating environment experienced during the year ended October 31st, 2010.”

Nonetheless, the company had an excess of assets over liabilities of €2.4 million at year end, according to the balance sheet.

The company had €1.8 million in fixed assets on its balance sheet, while cash levels stood at €709,000, down from €918,000 the previous year.

Ballymaloe House is located in Shanagarry, Co Cork. Originally a restaurant, which was opened by Myrtle Allen in the early 1960s, it subsequently expanded into a country house hotel.

All shareholders in the company are members of the Allen family.