23-05-2025
- Business
- Irish Independent
Income is up at company which runs Sligo BID
In 2023 the company's income was €564,080 and this was increased to €614,052 for the year ending 2024.
However, annual expenditure increased from €538,596 to €715,770 which was an annual increase of €176,814 Other operating income was down from €24,075 in 2023 to €10,320 which was a decrease of €13,775.
This meant the company had an annual operating deficit of €91,759 as opposed to a deficit of €48,902 for 2023 which is an increase of €50,857.
And the retained surplus at the start of the financial year was €209,617 as opposed to €160,715 for 2023 which is an increase of €48, 452 over the year.
The retained surplus at the end of the financial year was €117,858 as opposed to €209,617 for 2023 which is an increase of €48,452.
Meanwhile, the net assets of the company declined from €209,617 to €117,858 which is a decrease of €91,759.
Wages and salaries for a staff of five increased from €133,359 to €152,254 for 2024 which is an increase of €18,895.
The company has nine directors and none are paid.
Trade debtors amounted to €113, 739 as opposed to €138,366 in 2023 which is a decrease of €24,6d27
And trade creditors amounted to €123,152 as opposed to €112,756 in 2023 which is an increase of 9,396.
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The main source of income for the company is the BID levy on businesses which amounted to €391,539 as opposed to €396,764 in 2023.
Sligo County Council contributed a total of €71,822 which also included a payment for the Christmas Lights and rent contribution.
Sligo Summer Festival yielded €10,000. The Ambassador Programme brought in €44, 853 and the GWS electricity came to €3,284.
FI contribution-provision of tourist centre brought in €30,000 and a salary for a night time advisor came to €59,554.
Total income came to €614,052.
On the expenditure side the big figure is a total of €239.190 for events, festivals and existing town initiatives as opposed to a figure of €123.374 for 2023 which is an increase of €115, 916.
Another headline figure is a total of wages and salaries which came to €152,254 as opposed to €133,359 for 2023 which is an increase of €18,895.
Other expenses included Sligo Tidy Towns €30,000, Living Wall €20,430, Christmas Events €46,585, Love Sligo Gift Card, €30,802, St Patrick's Festival €38,354, Blooming Sligo €5,560.
The total expenditure was €715,770 as opposed to €538,596 in 2024 which is an increase of €176,814.
