Company made loss of €1.8m in the year to the end of March 2022, according to latest accounts
The Irish firm is a subsidiary of Sean Mulryan’s Ballymore property group. File photograph: Alan Betson/The Irish TimesAn Irish subsidiary of property group Ballymore reported a loss of €1.8 million last year to bring its accumulated losses to €87 million at the end of March 2022, according to accounts just filed.
Turnover for Ballymore Properties Ireland Ltd rose to €11.8 million during the period from €8.6 million a year earlier but a near 47 per cent rise in administrative expenses to €13.1 million pushed the company into the red. This contributed to the property group being left with a loss for the year of €1.8 million compared with a deficit of €325,392 a year earlier.
This brought its accumulated losses to just under €87 million. The accounts show that some €96.5 million was owed to creditors and fell due within one year. The amounts were owed to related entities and are interest free, unsecured and payable on demand, according to the accounts.The main activity of the company, which has a registered address in Dublin 15, is listed as being the “provision of project management and administration services to related parties”.
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