Year of the lost profits of Atlantis

This article is from page 92 of the 2009-03-31 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 92 JPG

CLARE tourism and development company Atlantis Developments Ltd racked up over €400,000 in losses for the year to the end of April last.

According to abridged accounts lodged with the Companies Office, Atlantis recorded a loss of €411,179 but as the information provided in abridged accounts do not show if this was an operating loss or as a result of an ongoing investment programme.

Managing Director, John Flana- gan declined to respond to emailed queries on the accounts preferring instead to arrange a meeting later this week to discuss the company’s operations. The other director named in the accounts is Gerard Lillis.

The accounts show that the com- pany has tangible assets valed at €2.68 million with net assets valed at £101,400.

There were accumulated profits of €512,577 in the company’s accounts in April 2007 and this dropped by over €400,000 to €101,398 by last April.

Since then, the economy has nose- dived, though it 1s not yet known what impact the onset of the recession has had on the company’s activities.

In recent years, Atlantis Develop- ment Ltd has been to the forefront of new tourism related developments in

north Clare and has run into opposi- tion from local residents for its plans in Liscannor and Doolin.

Next month, Clare County Council is due to rule on the company’s lat- est plan to construct five homes at Doolin along with outline planning permission for a supermarket, créche and medical centre.

A decision is also due shortly by An Bord Pleanala for plans for a park n’ ride facility to serve the Cliffs of Moher Visitor Centre at Liscannor and Doolin. Clare County Council granted planning permission to the developments last September but lo- cal residents have since lodged an ap-

peal to An Bord Pleanala.

The company is also awaiting a decision from An Bord Pleandala con- cerning the redevelopment of Joseph McHugh’s pub and Egan’s pub on Liscannor’s Main Street, which also ran into local opposition.

Atlantis was refused planning per- mission last August for a retirement home in Doolin, but was granted planning permission for a 20-bed- room extension to the Tirganean ho- oe

Elsewhere in north Clare, the com- pany is awaiting planning permission on a 55 home development in En- nistymon and a decision in relation

to the development of four homes in Doolin.

It is not known how much the ac- counts relate to existing businesses within the Atlantis Holiday Group such as the Smerwick Harbour Hotel in Dingle, County Kerry, the Cliffs of Moher Hotel in Liscannor and Ballyvara House in Doolin.

John Flanagan has also recently secured planning permission for the redevelopment of Ballykilty Manor near Quin to construct a hotel on the site.

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