Seaside centre’s boost in fortunes

One of the best-known seaside attractions in the Mid-West has enjoyed a double boost.

This follows new figures showing that revenues at Lahinch Seaworld and Leisure Centre increased last year ahead of confirmation of funding for a major overhaul of the facility.

Lahinch Seaworld and Leisure Centre was opened in the mid-1990s after a share membership drive across north Co Clare helped fund the venture.

Now, new figures lodged with the Companies Office show the firm increased its revenues last year by 9% from €467,484 to €509,298 due to increased visitor numbers.

Operating losses narrowed sharply from €56,788 to €6,067.

However, after taking into account large non-cash depreciation costs of €120,826, the facility recorded a strong cash-positive performance for 2012.

The boost in financial fortunes coincided with the centre securing financial support for a major overhaul of the centre.

The directors’ report states they have set out a five-year plan to improve the facilities at Lahinch Seaworld. The planned facilities include a new surf centre and a multi-purpose community facility.

The modest loss sustained by the company last year also drew the attention of company’s auditors Deloitte & Touche.

The firm, it emerged, incurred a loss of €28,667 to the end of the year and had net current liabilities of €175,183

“These conditions indicate the existence of a material uncertainty which may cast significant doubt about the company’s ability to continue as a going concern,” the auditors noted.

According to a note attached to the accounts, “the validity of the going concern assumption is dependent on the achievement of sales plans together with a continued cost containment programme”.

Numbers employed at the centre last year fell from 20 to 18.