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.