Recent accounts filed by Mr. Weld’s Rosewell Racing Ltd indicate a notable increase in post-tax profits, amounting to €137,456 for the previous year. This represents a 37.5% growth compared to the firm’s post-tax profits of €99,950 in the year 2021.
It’s worth noting that the company’s profits in 2020 and 2019 amounted to €417,982 and €328,250 respectively.
However, during 2022, the firm’s cash funds declined significantly from €525,454 to just €1,856. On the other hand, the amount owed by debtors more than doubled from €675,835 to €1.366 million.
The company possesses tangible assets with a book value of €2.15 million, including livestock valued at €450,000.
Employment numbers within the operation decreased from 50 to 45, comprising 40 individuals in general roles and five in administration.
The accounted profit for the previous year includes non-cash depreciation costs of €48,604 and government grants received amounting to €157,022.
According to separate figures published by the Revenue Commissioners, the company took advantage of Covid-19 wage supports throughout 2022.
The firm’s board of directors consists of Mr. Weld’s family members, including Mary, Dermot, Chris, and Mark. The directors’ aggregate pay remained unchanged from 2021, amounting to €388,780. Dermot, Chris, and Mark are all listed as horse trainers.
Taking into account the negative €1.698 million ‘other reserves’, the company’s shareholder funds totaled €2.93 million. Mr. Weld, a seasoned trainer, assumed management of the family horse-training operation at Roswell House in The Curragh in 1972 and has achieved numerous career highlights.
Horses trained by Mr. Weld have won all five Irish Classics, with his first victory coming in the 1981 Irish Oaks with Blue Wind. Additionally, Mr. Weld has been the country’s leading amateur rider on three occasions, and he secured a Breeders’ Cup Turf success in November 2020 with Tarnawa and Colin Keane.
Mr. Weld’s recent accomplishments on the racecourse include winning the 2023 Tattersalls Irish 1000 Guineas in May with the odds-on favorite filly, Tahiyra, owned by the Aga Khan. In total, Mr. Weld has trained over 4,000 winners worldwide.
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