Annual Report and Accounts | 2024
Annual Report and Accounts | 2024
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
8. INCOME TAX EXPENSE
2024 €’000
2023 €’000
Current tax: Current tax on profits for the year Adjustments in respect of prior period
6. EMPLOYEE BENEFIT EXPENSE (Continued)
2,478
2,925
(44)
44
The remuneration of the Chief Executive Officer (“CEO”), disclosed in accordance with the applicable government department guidelines relating to the remuneration arrangements of Chief Executives of Commercial State Bodies and Section 305 of the Companies Act 2014, is provided below.
Total current tax
2,434
2,969
Deferred tax (Note 14): Origination and reversal of temporary differences
1,676 1,676
1,007 1,007
Total deferred tax
2024 €
2023 €
4,110
Income tax expense
3,976
Emoluments: - Basic salary
190,000 12,111 202,111 47,500 249,611
190,000 16,142 206,142 47,500 253,642
- Other taxable benefits
Total emoluments
Pension contributions
Reconciliation of tax charge
2024 €’000
2023 €’000
The remuneration above represents the total remuneration of the CEO, Mary Considine, for the years ended 31 December 2024 and 2023. Pursuant to her contract the salary of Ms. Considine is €190,000 per annum. No performance related pay was paid to the Chief Executive Officer in respect of the years ended 31 December 2024 or 2023.
48,434
Profit before tax from continuing operations Loss before tax from discontinuing operations
30,153
-
(131)
48,434
30,022
Profit before tax
6,054
Profit before tax multiplied by the standard rate of corporation tax in the Republic of Ireland of 12.5%
3,753
Tax effect of: (Income)/expenses not allowable for tax purposes
7. FINANCE INCOME/(EXPENSE)
(3,221)
911
1,697
Income taxed at a higher rate
1,415
2024 €’000
2023 €’000
241
Chargeable gains
202
(617)
Gains in profit or loss which are not taxable or impact on unrecognised deferred tax
(2,349)
(44)
44
Adjustment in respect of prior periods
293
Gain on financial asset held at fair value through profit and loss
- -
4,110
Tax expense
3,976
1,517
Interest on financial assets held at amortised cost Interest receivable on short-term bank deposits Finance lease income receivable (Note 13)
42 36
152
4,110
Tax expense recorded in the Statement of Profit or Loss Tax expense attributable to a discontinued operation
3,963
37
-
13
1,888
Finance income
189
4,110
Total tax expense
3,976
2024 €’000
2023 €’000
(935)
Interest expense on loans
(1,048)
(5)
Net interest expense on defined pension scheme (Note 24)
(5) (7)
-
Other interest expense
(940)
Finance expense
(1,060)
82
83
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