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Tag Archives: losses

Crusade to avert 2020 closure

Clare Crusader’s Clinic is facing the threat of closure by 2020, unless major Government funding is provided on a annual basis. While neither of the co-founders, Councillor Ann Norton and Frank Cassidy, want to close the clinic, they have warned its current losses are unsustainable without Government funding. In the wake of the Console scandal, the co-founders have decided to open the accounts for the first time to dispel the perception that it has loads of spare cash. According to profit and loss accounts provided to The Clare Champion, the clinic has accumulated losses of €107,341. The charity made a slight profit of €1,495 in 2012, a profit of €14,615 in 2013 before sustaining a major loss of €48,523 in 2014. The clinic suffered further losses of €17,587 last year and €41,231 for the first six months of this year. Fundraising from 2005 to 2016 generated a gross return of €2,684,779, less €395,931 in costs, giving a net figure of …

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Question mark over Knights’ future

THERE is a doubt about the future of Shannon Knights, according to accounts filed during the summer, which show accumulated losses of almost €1.75 million. Established in 1972, Shannon Knights has always been family run and has been one of the most prominent social centres in Shannon for decades. A little over five years ago, there was a multi-million euro revamp and in advance of its reopening in 2010, management spoke of expanding their clientele to Limerick and Ennis but economic conditions since then have proven difficult. The accounts, which were prepared by Curtin O’Friel & Co Chartered Certified Accountants and deal with the year up to the end of August of last year, state that the company had accumulated losses of €1,745,549. They state, “These conditions, along with the other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a …

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