The firm which operates a fuel station and grocery shop in the Kerry village of Kilgarvan co-owned by Independent TD, Michael Healy-Rae last year recorded losses of just under €100,000.
The new accounts for Black Cap & Company Ltd show that the firm recorded the post tax losses of €99,867 in the 12 months to the end of April 2022 and this followed post tax profits of €71,571 in the prior year - a negative swing of €171,438.
The profit of €71,571 for the 2021/2020 financial year was skewed by €107,401 received in Government grants and the company availed of Government Covid-19 wage support, the Employment Wage Subsidy Scheme (EWSS) in 2021/2020.
The accounts show that the firm did not avail of the EWSS in the 12 months to the end of April 2022.
Last year, the business increased the numbers it employed by one to 17, including directors.
Mr Healy-Rae sits on the board of Black Cap & Company Ltd with wife, Eileen who is the majority shareholder in the business and aggregate pay to the two last year totalled €47,271, which was down 16 per cent on the €56,255 in directors’ pay for 2021.
At the end of April 2022, the firm owed Mr Healy-Rae €137,591.
The company operates from a building housing a shop at Kilgarvan village and the accounts confirm that the building is owned by Mr Healy-Rae and last year the firm paid €12,000 in rent to Mr Healy-Rae.
The loss last year takes account of combined non-cash depreciation and amortisation costs of €40,615.
The loss for 2022 sent accumulated profits tumbling from €158,621 to €58,754. The loss-making year for the business also coincided with the company’s cash funds decreasing sharply from €195,950 to €45,234.
The book value of the company’s tangible assets increased from €95,701 to €104,040.
Separately, Purchase Order figures published in October by the Department of Children, Equality, Disability, Integration and Youth show that a Co Kerry guesthouse operated by a firm owned by Mr Michael Healy-Rae received €544,090 (all figures incl VAT) for accommodating Ukrainians to the end of June this year.
Guesthouses
The figures show Mr Healy-Rae’s Rosemount Guest House received €322,480 in the second quarter of this year for accommodating Ukrainians and this is in addition to the €221,610 the outspoken TD’s guesthouse in Tralee has received in the prior two quarters from the department for accommodating Ukrainians.
Mr Healy-Rae’s entry to the Dáil’s members’ register of interests lists his other occupations as postmaster, farmer, service station owner and owner of rental properties. The Kerry deputy also has shares in The New York Times.
In September, Kerry Co Council refused planning permission to Mr Healy-Rae’s Roughty Properties Ltd's application for a three-storey extension to expand guest capacity at Rosemount Guest House.
The most recent figures for Mr Healy-Rae’s Roughty Plant Hire Ltd show that its accumulated profits last year increased to €692,609.
The post tax €90,333 profit for the 12 months to the end of April 2022 compares to a post-tax loss of €13,641 incurred during the prior 12 months.
The abridged accounts show that the firm received Government grants of €101,602 during the year and this followed €38,993 received under the same heading in fiscal 2021.
The accounts don’t disclose the nature of the Government grants but separate figures published by the Revenue Commissioners show that the firm was in receipt of Government Covid-19 wage supports in 2021 and the first quarter of 2022.
