Annual Report and Accounts | 2024
Annual Report and Accounts | 2024
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
There were no amounts included in accumulated Other Comprehensive Income relating to the disposal group classified as held for sale.
The net cash flows incurred by the disposal group classified as held for sale were, as follows:
9. ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (a) Assets held for Sale
2023 €’000
2024 €’000
2023 €’000
Operating Investing Financing
4
(6) - (2)
Assets Investment Properties Assets held for sale
2,943 2,943
850 850
Investment Properties Assets held for sale at 31 December 2024 and 2023 represent certain investment properties which are expected to be disposed of within one year. Investment properties classified as Assets held for sale at 31 December 2023 included an asset valued at €480,000, which was disposed of in 2024 resulting in a loss on disposal of €7,000, none of which was receivable at 31 December 2024. An asset valued at €370,000 remains classified as held for sale at 31 December 2024 as this is expected to be
disposed of within one year. (b) Discontinued operations
At 31 December 2022 the Group had signed non-binding Heads of Terms with Clare County Council (“the Council”) for the transfer of the entire Shannon Heritage business and all visitor attractions in County Clare to the Council. The business of Shannon Heritage was therefore classified as a disposal group held for sale at that date and its results for the year classified as a discontinued operation. This transfer was completed during 2023. The results of the discontinued operation for 2023 are presented below.
2023 €’000
Revenue from contracts with customers
3,452
Expenses
(3,721)
19
Other operating income
Operating loss Finance costs
(250)
-
119
Impairment reversal recognised on the remeasurement to fair value less costs to sell
Loss before tax from discontinued operations
(131)
Tax expense: Related to pre-tax loss from the ordinary activities for the year
(13)
Loss for the year from discontinued operations
(144)
84
85
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