The media firm controlled by former RTÉ presenter Ryan Tubridy paid out €882,001 in pay to directors over the past two years, newly filed accounts show.
Accounts for Tuttle Productions Ltd, lodged with the Companies Registration Office (CRO), show the €441,077 paid out to directors last year followed €440,924 paid out to directors in 2021 – giving a total of €882,001 over the two years.
Last year, the directors’ pay was made up of €426,357 in remuneration and €14,720 in pension contributions.
The decision by Mr Tubridy to disclose directors’ pay is a move towards greater transparency in the financial affairs of his media firm.
As a result of the hefty directors’ payout, the firm recorded a modest loss of €1,318 for 2022, which followed post-tax profits of €13,629 for 2021.
Cash funds at Tuttle Productions totalled €7,489.
The recently appointed Virgin Radio UK presenter sits on the board of the firm, which employs two people, with his mother, Catherine Tubridy.
The 2022 financial year covers the period when Mr Tubridy, RTÉ and sponsors Renault were involved in a controversial tripartite agreement to the tune of €150,000.
The matter plunged RTÉ into crisis, and saw representatives of the national broadcaster appear before both the Oireachtas Media Committee and Public Accounts Committee on numerous occassions, where corporate structures and governance were heavily criticised.
The scandal has also caused a dramatic decline in licence fee takings, to resulting in a €56 million State bail out earlier this month, and the announcement of 400 job losses at RTÉ by 2028.
The disclosure of directors’ pay in the accounts for Tuttle Productions Ltd marks a departure from recent years when the accounts did not disclose pay to directors.
The last time the firm disclosed directors’ pay was in 2017, for the 16 months for the end of December 2016, which was €473,138.
Mr Tubridy was not alone in not disclosing directors’ pay in his accounts, as a number of other high-profile presenters do not reveal those amounts in their own company accounts.
The accounts were signed off Ryan Tubridy and Catherine Tubridy on November 22nd.
As a small company, the firm is not required to disclose its revenues.
