The business received government grants of €2.35m in 2023. Stock image: Getty
Revenues at the main creche firm operated by Links Childcare last year increased by 11pc to €9.64m.
Deirdre and Padraig Kelly operate Links Childcare and have overseen the growth of the business since 2004 to 14 creche facilities dotted around Dublin today, including locations at Foxrock, Blackrock, Clontarf, Portmarnock and Malahide.
The couple’s Links Creche & Montessori Ltd operates eight childcare facilities, offering comprehensive services from nursery through Early Childhood Care and Education Programme (ECCE) to afterschool.
New accounts show that the bumper 2023 enjoyed by the Kelly firm has resulted in The Links Creche & Montessori Ltd’s recording pre-tax profits of €2.75m to the end of last October.
This was 30pc down on €3.27m pre-tax profits for 2022 as the business was hit by cost inflation.
The directors state that they are pleased and very satisfied with the performance of the company during the year.
They state that the year included a full year of participation in the Core funding scheme and expansion of operating locations.
The business received government grants of €2.35m in 2023 compared to €2.08m in 2022.
Numbers employed increased from 197 to 215 and staff costs went up from €5.98m to €7.42m. Directors’ pay totalled €175,000.
The directors state that on review of the financial results, the increase in revenue was primarily linked to the expansion of the St Olave’s and Balbriggan locations, which allowed for additional capacity.
The directors state that operating profits have declined from €3m to €2.66m primarily as a result of cessation of government supports linked to the Covid-19 pandemic, which were replaced by the Core funding scheme and cost inflation.
The directors state that the company’s ability to achieve positive results for 2023 “was due to the development of existing creche facilities to allow for greater capacity, continued receipt of government supports and through the tight management and oversight of operational and related overhead expenditure”.
The directors add that the company “has continued to operate on a profitable basis subsequent to the financial year end with a continuation of the positive trading performance being achieved to date”.
The firm had accumulated profits of €12.4m. Cash funds decreased from €2.26m to €1.3m.
