Drastic cuts help Bóthar cut losses by €100,854 as charity deals with fallout of scandal
New accounts for the Co Limerick-based Bóthar CLG show that it reduced its losses from €282,824 in 2023 to €100,854 last year as it slashed its costs by 40pc from €1.05m to €628,852 in the 12 months to the end of June last.
Revenues at the charity last year continued to slide, declining by 32pc from €768,595 to €525,739. These compare to pre-scandal and pre-Covid 19 revenues of €4.6m in 2019.
The cuts over the last three years have included redundancies, while Bóthar has sold its properties in Dublin and Limerick.
In the new accounts signed off by the board on March 25, the directors state that a Garda criminal investigation following a formal complaint into historical practices is ongoing, while a separate investigation by the Charities Regulatory Authority into the company's former financial irregularities has been paused pending the outcome of the Garda investigation.
The directors say there has been extraordinary but necessary cost curtailment measures in the last three financial periods, including costs associated with the winding down of certain aspects of the company's operations.
'These actions were overwhelming for the organisation but were necessary in order to bring the company to a position of stability and recoup public confidence.
'These actions allow the company to return to its core focus, with a view to rebuilding the programme activities.'
On the charity's going concern status, the directors state: 'Bóthar continues to apply cost reductions where necessary.
'A target to achieve a low deficit in the financial year ended 2024 was successful and the company's next target is to arrive at a break-even in 2025.'
The accounts state that the advances that the company has made in the financial years of 2022, 2023, and 2024 'demonstrates a significant progression towards full compliance with governance requirements and particularly those of the Charity Regulator'.
'This process has had a substantial impact on both the company's finances and reputation, resulting in the sale of its premises in both the Dublin and Limerick locations.
'While the company continues in its charitable activities, the associated overheads in doing so have proven strenuous on the company's reserves.'
The directors state that the sale of the Limerick premises last year 'resulted in an uplift of cash resources'. Cash funds increased from €261,888 to €465,232 in 2024.
The note states: 'As the company have reduced their expenses by a substantial level in recent years, it is the board's intention to utilise the cash resources towards further marketing campaigns and funding projects to spread more information on the company' work and with continued fund-raising, further secure the future of the organisation's mission.'
Numbers of employees reduced from four to three as staff costs declined from €308,248 to €224,968.
Donations dipped from €284,695 in 2023 to €273,476 last year, while income from legacies increased from €142,900 to €184,263. Donations in kind plummeted from €341,000 to €68,000.
The alleged misappropriation of funds at Bóthar first came to public attention in 2021 through the charity taking High Court injunction proceedings against its former CEO, David Moloney.
Alleged irregularities first came to light during the 2019 financial year from an anonymous whistleblower concerning inappropriate travel expenses.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Irish Sun
4 hours ago
- The Irish Sun
Thousands of Aer Lingus passengers to avail of ‘rewarding' bonus after special partnership
AER Lingus has announced a new partnership with a popular US-based taxi app. Irish passengers can now collect Avios points on every journey they take using the 2 Aer Lingus announced their partnership with Uber app Credit: Naoise Culhane Photography 2 The partnership allows Aer Club members to collect points on Uber rides in Ireland and the UK Credit: Naoise Culhane Photography Members of the Aer Club will collect 1 Avios for every €1 spent on any trips taken on the Uber app in Ireland and the And for those who link their AerClub and Uber accounts via the Uber app and complete a journey before July 31 will receive a whopping 500 bonus Avios. This can be done by entering their details into the Uber app in the settings section. Once it is set up, Avios will automatically appear in each member's account after every Uber Ride in Ireland and the United Kingdom - it also includes trains, coaches, boats and two-wheels in the UK. READ MORE ON AER LINGUS Avios is the reward currency of And their membership can avail themselves of major perks with the airline, such as fast track, priority boarding and lounge access. Passengers can also have a choice of collecting Avios with the British Airways Club, which can be done by selecting your Earning Partner in the Uber app. With the points collected, members can transform them into an unforgettable Most read in News Travel Members can take a one-way flight from Dublin to The collaboration with Uber guarantees that users may improve their balances on every trip they take with Uber, whether they're catching a flight or returning home after an excursion. 'Sorry Ryanair I'm switching' says passenger after discovering major feature on Aer Lingus flight Compared to last year, the demand for Uber rides has skyrocketed by 175 per cent, demonstrating that more and more individuals opt for convenience when they're on the go. 'SEAMLESS WAY TO COLLECT' Talking about the launch of the new partnership, Chief Customer Officer of Aer Lingus, Susanne Carberry, said: "At Aer Lingus, we're dedicated to making AerClub as rewarding as possible for our 3 million members. "Our new partnership with Uber offers yet another seamless way to collect Avios through everyday spending. "Whether it's a journey to the airport or a convenient trip across town to a meeting, every journey booked through the Uber app earns Avios—bringing members closer to flights, upgrades, and exclusive travel extras." Head of Ireland for Uber, Kieran Harte added: "With this exciting collaboration, we can help users of the Uber app collect Avios with every ride. "Whether you're commuting to work with Uber or exploring a new city, every ride brings you closer to a dream destination with Aer Lingus.' Chief Commercial Officer for IAG Loyalty, Rob McDonald said: 'It's fantastic to be able to expand our existing partnership with Uber, offering AerClub members another way to collect Avios as part of their every day. "This builds on our existing partnership with Uber in the UK, meaning both AerClub and British Airways Club members can now benefit from earning Avios with Uber seamlessly across Ireland and the UK."
Irish Independent
16 hours ago
- Irish Independent
Irish agritech firms get ready to shine at New Zealand Fieldays showcase
In the effort by entrepreneurs to develop solutions to address these challenges, product and technology innovations born in Ireland are finding a receptive market in New Zealand. From June 11-14, six leading Irish agritech and machinery companies will join Enterprise Ireland at New Zealand National Fieldays in the Waikato, New Zealand's largest dairy region. With over 100,000 people expected to attend over four days, Fieldays is the biggest agricultural show in the southern hemisphere and a key opportunity for Irish firms to connect with Kiwi farmers and agribusinesses. Robust agri-machinery designed and manufactured in Ireland supporting pastoral farming processes is well-suited for New Zealand conditions and has built a strong reputation in the market. Among the companies exhibiting on the Ireland stand are Abbey Machinery and AgriSpread. Abbey slurry tankers and diet feeders, and AgriSpread fertiliser and lime spreaders can be seen in fields across New Zealand's north and south islands. With New Zealand's focus on dairy, another strength of Irish firms is in dairy tech. The west of Ireland will be well represented in this area with Kerry's Dairymaster displaying its range of milking equipment and parlour technology, and Galway-based JFC Agri bringing its award-winning Evolution automatic calf feeder to the show after launching the product in New Zealand at the show last year. Also from the West, Clare-headquartered Forcefield will be exhibiting at Fieldays for the first time, bringing its range of electric fencing energisers, testers and accessories. Fieldays also attracts attendees from other industrial sectors, and joining their Tipperary neighbours Abbey Machinery is Revive Environmental International, manufacturers of sustainable sewer- cleaning trucks for the water, wastewater and underground infrastructure sectors. Aside from the Ireland stand, other Irish companies exhibiting at the show include StrongBó Agritech and Glen Dimplex, and a number of brands will be represented by their local distributors, including McHale, Keenan, Hi-Spec, Major Equipment, Malone Farm Machinery, ProDig Attachments, Tanco, Dromone Engineering and Portwest. Enterprise Ireland and the Embassy of Ireland will kick off the week with an Irish Agribusiness Dinner, showcasing the Irish firms attending Fieldays and strengthening links with New Zealand agribusiness and industry leaders, the Irish diaspora working in the primary sector in New Zealand as well as government officials and diplomats. Local market conditions are expected to bring an air of positivity to this year's show, with record farmgate milk prices currently being paid to New Zealand dairy farmers by Fonterra and other processors. If you are an Irish agritech firm interested in attending Fieldays in 2026, or in exporting to Australia or New Zealand, contact EI's in-market team.
Irish Independent
17 hours ago
- Irish Independent
Fashion blogger Rosie Connolly's clothing brand 4th Arq on course to post record profits
Dublin-based Connolly said the brand – founded by Connolly and her husband Paul Quinn in June 2020– was set for a refresh this year, shaking up its hugely popular fleece line in the autumn. While plans to grow internationally in the UK and Australia – where it already has a significant market – remain, Connolly said 4th Arq will be turning more of its attention back to the Irish market. In its most recent accounts, Haremi Limited, the owner of 4th Arq, recorded a profit of over €4.16m in the year to the end of June 2024. Connolly said the business – backed by John Kelly, son of E-Shop World founder Tommy, expects to post a slight increase in its next accounts. Investments in staff and infrastructure had bit into the overall margin. 'We are on track and working away,' she said. 'We are still loving the momentum of everything. I don't know if we can class ourselves as a startup, but it still feels like one. We still have that hunger and that growth in us.' Continuing growth is a key focus for Connolly. She said Ireland still had huge potential for 4th Arq. 'Something we did do was a bit of research on where we are at in Ireland, and how many people are familiar with us,' she said. 'We kind of felt like everyone knows about us in Ireland, when actually there was still a huge amount that are not familiar with our brand here. 'So we have also turned a bit of our attention back to Ireland to make sure we are getting the best out of the market here.' The UK and Australia remain important markets for the brand. It is also considering some moves in Europe. 'We are just testing new markets but also nurturing the ones that are there organically,' she said. 'Generally, that is Ireland, the UK and Australia. I think wherever the Irish are, to be honest.' Looking into 2026, Connolly said selling wholesale into retail outlets would become a feature for 4th Arq. 'There is so much more potential there. Like in Ireland, wholesale is something we are really looking at in the UK and across Europe. We are in talks with a couple of different people at the moment, but that is something that won't come to fruition until 2026.' Connolly said 4th Arq had recently recorded its one-millionth online order and had shipped its clothes to over 20 countries globally.
