Accounts just filed for the Fitzwilliam Square Association Ltd, which maintains the “ornamental gardens” of the Georgian park in central Dublin, show it has returned to the black.
The company reported an operating profit of €34,745 in the year to the end of January 2011 compared with a loss of €16,356 in the previous year. Subscriptions and other income more than doubled to €85,954, while its administrative costs were slightly down, at €51,209.
The company transferred €35,000 to its sinking fund, boosting it to €60,000. The directors’ report cites the main risk as being “non-payment of subscriptions by its members” but the directors are “satisfied that significant non-payment is unlikely to occur”.
The association was set up in the early 1970s to “manage, maintain and improve the private park and ornamental gardens” for wealthy residents – including Sir Anthony O’Reilly – and office- holders, who have keys.
Former lord mayor Dermot Lacey ran a campaign to open up the park to all but it remains out of bounds to the public.
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Having graduated from the over-the-counter Plus market to an AIM listing in London, and added a listing on the junior ESM market in Dublin last month, Emmet O’Connell’s Great Western Mining has now brought in Shore Capital as its new broker and nominated adviser.
Shore replaces Libertas Capital, which handled the AIM listing and a £1 million fundraising last August. Shore is something of a heavyweight and should be busy with GWM next year. The company is expected to seek new funding for its copper and silver exploration project in Nevada.
