Com­pany Re­port

Belfast Telegraph - Business Telegraph - - News - Roe Park Hold­ings

Roe Park Hold­ings is the now well-es­tab­lished owner of the suite of leisure fa­cil­i­ties in Li­mavady.

Its ac­tiv­i­ties are de­scribed as a golf re­sort, ho­tel and spa. The busi­ness was ini­ti­ated by a small group of five lo­cal in­vestors who now are the con­tin­u­ing share­hold­ers and di­rec­tors.

It was re­branded from Radis­son Blu Roe Park Re­sort to Roe Park Re­sort six years ago af­ter a ma­jor in­vest­ment pro­gramme. It had been a Radis­son for 16 years.

Roe Park has now been trad­ing prof­itably for over 10 years.

The bal­ance sheet value of the share­hold­ers’ funds has steadily in­creased and by the end of 2017 had dou­bled to over the stated value eight years ear­lier. An­nual turnover has been in­creas­ing and is now over £6.4m. Op­er­at­ing prof­its in 2017 at £774,000 were lower than the un­usu­ally high fig­ures a year ear­lier but rep­re­sented a re­turn of 12% on turnover.

The an­nual ac­counts re­flect a busi­ness which is trad­ing suc­cess­fully and, in par­al­lel, has been able to re­duce the level of fi­nan­cial bor­row­ing.

Dur­ing 2017 the value of out­stand­ing bor­row­ing re­duced by £1.3m and this fol­lowed a re­duc­tion of £0.9m the pre­vi­ous year.

Fi­nanc­ing the busi­ness has been helped by the avail­abil­ity of con­vert­ible un­se­cured loans which have also been re­duc­ing as they are re­paid.

Em­ploy­ment in the busi­ness has been sta­ble and reached a new high level of 205 peo­ple last year.

Cap­i­tal spend­ing at £399,000 in 2017 varies from year to year but has usu­ally been sim­i­lar to the as­sessed al­lowed level of de­pre­ci­a­tion of the as­sets.

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