Leisureland sees revenues rise to €2.6m but rising costs impact profits

The company that operates the Leisureland complex in Salthill generated revenue of over €2.6 million last year, but saw its operating surplus fall by nearly 37% due to rising costs, according to accounts just filed to the Companies Office.

Income at Galway/Salthill Fáilte Company Limited by Guarantee increased by more than €223,000 to €2,643,299 during the 12 months to the end of December 2025, bolstered by a €70,000 government grant.

However, higher expenditure saw the company’s operating surplus fall from €92,508 to €58,598 over the same period.

Under a longstanding operating agreement, the entity manages the popular seaside venue on behalf of Galway City Council, which absorbs all annual surpluses and deficits.

The local authority therefore absorbed the entire €58,598 surplus as an exceptional item, having absorbed €92,508 from the company during the previous 12-month period.

The board of the company includes Galway city councillors Peter Keane, Niall McNeilis, Josephine Forde, and Declan McDonnell, alongside fellow directors Tom O’Connor, Dan Murphy, and David Burke.

In a report accompanying the financial statements, the directors warned of external pressures facing the complex, stating that the company’s income remained “exposed to fluctuations in the general economic conditions in Ireland and to the changing cost structures of the leisure and entertainment industry”.

They noted, however, that management remains “in a position to change the emphasis of their entertainment and leisure offering in response to changes in economic conditions”.

The business is also examining capital upgrades at the Salthill facility, with the directors’ report revealing that the company is “exploring the intention to install a biomass boiler/heating system over the next few years”.

The company’s cash pile increased modestly during the year, rising from €61,211 to €65,676. Total current assets stood at €240,332, up from €200,818 in the previous financial year, bolstered by €50,258 held in resale stocks and €124,398 in debtors and prepayments.

The firm’s creditors falling due within one year stood at €240,332, matching its current assets and up from €200,818 a year earlier. This included €77,187 owed to trade creditors, up from €32,975, and €122,736 owed to Galway City Council in net funding balances.

The company holds the freehold title to the Leisureland complex and lands at Salthill, but leased them to Galway City Council under a 999-year agreement dating back to May 1976 at a rent of €1,269.74 per year if demanded.

The accounts disclose that no rent demand has been made since 1976, and because all capital alterations and equipment purchases are funded directly by the council rather than capitalised, no tangible asset value or depreciation is recorded.

The number of staff employed at the leisure and entertainment centre increased from 59 to 65 during the year, according to the financial statements.