Accumulated profits down to €285,000 at Lewis's Michelin-starred Dublin restaurant
Accumulated profits at the firm that operates the decorated Dublin restaurant co-owned by the 'Queen's chef', Ross Lewis, pictured, last year dipped to €285,269.
Chapter One, on Dublin's Parnell Square, is one of 10 Michelin-starred restaurants in the Republic.
New accounts filed with the Companies Office show that the accumulated profits dipped from €316,762 to €285,269 in the 12 months to the end of February 28 this year.
Mr Lewis has long been known as one of Ireland's best chefs and during the same 12-month period, Lindley Ltd's cash pile fell from €623,294 to €387,353. The restaurant is currently closed for annual holidays to August 15 but when open, patrons can enjoy a four-course meal for €75 that includes 'Grilled lasagne of scallop and Atlantic crab, pickled seaweed butter, red dulse' and 'Salt marsh duck, bonito sesame seeds, blood orange, smoked sweet potato'.
The restaurant employs 33 staff and the wage bill last year rose from €896,387 to €1.093m. Directors' remuneration declined from €262,088 to €241,098.
The sharp drop in the firm's cash pile coincided with the company loaning an additional €484,100 to a connected firm last year to bring to a total of €718,138 loaned to that un-named company.
Lewis in 2015 expanded his food operation with the opening of Italian restaurant Osteria Lucio on Dublin's Grand Canal Quay.
Separate accounts filed for the firm behind Osteria Lucia, Trionview Ltd show that the company recorded profits of €196,942 in the 12 months to the end of February 29, 2016. Numbers employed by the company increased by three to 36 with staff costs decreasing from €640,283 to €540,215. Its cash pile increased from €29,623 to €92,028.
Chapter One won the Best Restaurant in the Restaurants Association of Ireland awards this year.
The Association's chief executive, Adrian Cummins, said yesterday: "Chapter One has a fantastic reputation and a great pedigree. It has a very good business model and Ross Lewis works very hard and is a very good businessman."