This article is from page 6 of the 2006-01-17 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 6 JPG
CLARE County Council is set to approve the allocation of €55,000 in grant aid to a company that is on the Companies Office strike-off list, and could be struck-off before the end of next month.
Kilkee Waterworld is facing sanction from the Companies Office after failing to lodge accounts for any period since 2002.
The most recently lodged accounts show that it had accumulated losses of €619,000 and it has been forced in recent years to shorten its opening period from April to September to stem continuing losses.
Chairman of the company’s Board of Directors and Council Mayor, Cllr Patrick Keane (FF) told The Clare People that he was surprised to hear that the up to date accounts haven’t been filed by Kilkee Waterworld
“This is the first that I have heard of it. I am surprised, because we signed off on the accounts for 2004 two months ago,” he said.
Cllr Keane conceded that it was a struggle for the facility to make money.
“It is a struggle for any of these centres to make a profit. There are very high costs involved and we experienced a 12per cent drop in visitor numbers last year. The facility is a resource for the community and we are trying to use it as a community facility. It is a chance that you have to take.”
Over the past five years, visitor numbers have dropped by 26per cent from 30,000 to 22,000 at the facility.
In the most recently returned accounts for Kilkee Waterworld, the future of the company was spelt out in stark terms.
“The accounts have been prepared on a going concern basis which assumes the company will continue in operational existence for the foreseeable future.
“The validity of this assumption depends on the reduction in the partnership trading losses, the continuation of fund-raising efforts or the availability of banking facilities. The partnership is currently renegotiating facilities with its bankers.”
Last year, the company received €32,000 from the Council, adding to the €25,000 it received 2004. However, it emerged this week that Kilkee Waterworld hadn’t filed its up-to-date accounts because it hasn’t had the funds.
A company spokesman said: “The accounts for 2003 haven’t been filed so far because we haven’t had the money to file the returns. It costs €2,500 to do so, but they will be filed before the end of February.”