Mosney Village doubles pre-tax profits

THE Mosney Village in Co Meath, run by husband and wife, Phelim and Elizabeth McCloskey, more than doubled their pre-tax profits last year.

The company saw profit before tax increase from €108,956 to €259,733 in the year to October 31, 2010. Turnover in the year was €7.9m, down from €8.8m in the previous year. The earnings per ordinary share were 2.19 cent, while the directors paid an interim dividend of €63,960.

The company accommodates 600 residents on a full-board basis in a range of houses and apartments and discussions with the Department of Justice are taking place regarding their ongoing accommodation requirements for asylum seekers.

However, the department confirmed yesterday that the contract period at Mosney is from June 5, 2011 to June 2, 2012.

The company said the programme of upgrading their houses and apartments is complete and due to the change in residents’ profile, it is not anticipated any further changes are needed at this stage to their accommodation units.

The accounts said the directors would like to acknowledge the contribution of the Health Services Executive, North East Community Welfare Office, Reception and Integration Agency and the Daughters of Charity who provided “invaluable on- site services” during the year.

They also acknowledged the Department of Education and all of the local schools that provided great support in placing children at these schools.

The company employs 84 full-time staff in its accommodation, catering, cleaning, maintenance, security and administration departments. This is down from 87 staff in the previous year, while staff costs have fallen from €4.2m to €3.2m. Directors’ remuneration in the year was €924,257, compared with just over €1.7m in the previous year.

“All staff continue to attend training courses in customer relations and team building. This greatly enables them to assist our residents, of many different nationalities, with their various cultural requirements,” the accounts read.

The company said that the majority of their suppliers are local-based and this contributes “greatly” to the economy of the area.

“After making enquiries, the directors have a reasonable expectation that the company and the group have adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements,” the accounts read.

The former Butlins has been closed to the public since 2000.