A consultancy firm associated with former presidential candidate Seán Gallagher had accumulated losses of €58,370 at the end of 2012, according to abridged accounts just filed.

Beach House Training and Consulting Ltd, with an address at Fota Island, Cork, had accumulated profits of €50,720 at the end of 2011. The accounts show that amounts due to creditors after more than one year jumped to €87,521, from zero at the end of the previous year. Shareholders’ funds at year’s end were a deficit of €58,270.

The directors are Mr Gallagher and his wife, Trish O’Connor. He transferred the shares in the firm to his wife and resigned as a director in 2011, the year he ran for the presidency. He was reappointed a director in June 2012.