The renowned Ballymaloe Cookery School firm in east Cork, which recently hosted Hollywood star Kate Winslet last year, has seen its accumulated profits climb to €2.9 million, according to new accounts.
The accounts show that post-tax profits at Ballymaloe Cookery School Ltd last year totaled €88,864, a 2% increase from the profits of €86,876 in 2022.
The east County Cork cookery school business sits on a 100-acre organic farm, where Darina Allen is the majority shareholder in the cookery school business.
Last month, the cookery school garnered attention after Oscar-winning actor Kate Winslet enrolled in a two-and-a-half-day course there with TV chef and bestselling cookbook author Rachel Allen.
Commenting on the cookery school firm’s financial performance last year, director Toby Allen stated on Monday, “We are delighted that 2023 was a busy year, and we were able to increase our numbers back to pre-covid levels, which helped with the bottom line.”
“We had a selection of over 60 courses in 2023, and we were delighted that most were full. Many, including our 12-week certificate courses, had waiting lists when they started, which shows great confidence in our business,” he said.
“Our next 12-week course begins in September, and it is already full, which is great news,” Mr. Allen added.
Mr. Allen mentioned that increased costs of energy and food have continued to be a concern and necessitated an increase in course fees. The cost of sitting the school’s 12-week certificate course in 2024 is €14,495.
“We are delighted that the cookery school continues to attract students from all over Ireland, the UK, and the rest of the world,” Mr. Allen said. “Our most recent course has students from 12 different countries around the world, with students ranging from 18 to 65 years old.”
When asked if the publicity surrounding Kate Winslet’s time at Ballymaloe resulted in a spike in bookings, Mr. Allen remained discreet, saying, “We value the privacy of all our students and are unable to answer any specific questions.”
The profits of the last three years at the school firm follow post-tax losses of €193,097 during the Covid-19-hit 2020. The school is a significant employer in rural east Cork, and last year, the number of employees increased from 66 to 68, with staff costs rising from €2.33 million to €2.52 million.
The profits last year take into account non-cash depreciation costs of €170,796, while directors’ pay rose from €288,665 to €336,478. The firm’s cash funds reduced from €1.27 million to €944,642 after the company reinvested in the business enterprise. The book value of the firm’s fixed assets increased by €753,408 to €6 million before non-cash depreciation costs are taken into account.
“We are continually investing in new accommodation for our students and were able to add eight new bedrooms last year,” Mr. Allen said.
This coming weekend, the inaugural Ballymaloe Festival of Food at Ballymaloe House and Grainstore, located about 5km from the Cookery School, is set to take place.
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