By Gordon Deegan

More than a doubling in income from legacies or bequests to €442,848 last year contributed to scandal-hit agri-charity Bóthar recording its first surplus in four years.

New accounts filed by the Co. Limerick-based Bóthar CLG show that it recorded a surplus of €361,864 in the 12 months to the end of June last, after recording a loss of €100,854 in the prior year.

Donations to the charity last year reduced by 22% from €273,476 to €212,202.

The drop in donations in 2025 comes as the charity continues to deal with the fallout from the financial scandal that hit it in 2021.

Bóthar

Overall revenues at Bóthar last year totalled €778,278, which was a 47% increase on the 2024 revenues of €527,998 and legacies last year made up 57pc of revenues in 2025.

The €442,848 in legacy income last year compares to €184,263 in legacy income in 2024.

Total revenues for 2025 compare to pre-scandal and pre-Covid 19 revenues of €4.6 million in 2019.

In their report, the directors state that continued monitoring and reorganisation of costs resulted in an overall reduction in overheads during the period.

They state that the standardising of certain expenses and efficient measures around staff numbers and salaries have had a positive impact on the company's surplus position.

They state that "this right sizing activity ensures the organisation remains fit for today's environment while fulfilling all obligations of our charitable purpose".

The directors state that they were satisfied with the measures implemented and expect this to continue for the foreseeable.

Investigation

In the new accounts, the directors state that a garda criminal investigation following a formal complaint into historical practices is ongoing.

A separate investigation by the Charities Regulatory Authority into the company’s former financial irregularities has been paused pending the outcome of the garda investigation.

Addressing Bóthar’s going concern status, the directors state that the advances that the company has made in recent years demonstrates a significant progression toward full compliance with governance requirements and particularly those of the Charities Regulator.

The note states that this process has had a substantial impact on both the company's finances and reputation, resulting in the sale of its premises' in both the Dublin and Limerick locations.

The note states that while the company continues in its charitable activities, the associated overheads in doing so have proven strenuous on the company's reserves.

The note adds that income in the year ended June 30, 2025 was comprised of a substantial level of legacy donations and point out that "legacy income varies annually and is unpredictable for the current financial period".

They state that in addition, the company "has continued to experience a reduced level of donations, mainly as a result of the ongoing investigation outlined in the directors' report".

At year end, the charity had net assets of €651,313.

The note states: "However the matters outlined above indicate the existence of a material uncertainty which may cast significant doubt over the company's ability to continue as a going concern and it may therefore be unable to realise its assets and discharge its liabilities in the ordinary course of business."

Finances

In 2025, the number of staff employed at Bóthar had reduced to two.

The charity's cash funds last year increased from €465,232 to €764,536.

The alleged misappropriation of funds at Bóthar first came to public attention in 2021 through Bóthar taking High Court injunction proceedings against its former CEO, David Moloney.

Alleged irregularities first came to light in Bóthar during the 2019 financial year from an anonymous whistleblower concerning inappropriate travel expenses.