Tony Quinn health centres post loss of €75,000

TONY QUINN Health Centres Limited posted a loss of almost €75,000 in the year ended September 2009, compared to a profit of €36,800 the previous year, according to accounts just filed at the Companies Registration Office.

The company had a deficit of €75,600 at year end. Operating losses stood at €45,300 compared to an operating profit of €57,600 posted the previous year.

The average number of people employed by the company during the year was 46, compared to 39 the previous year.

Employment costs stood at just over €1.5 million, compared to €1.4 million during the previous 12-month period.

The company had a subordinated loan of €980,000 from parent company Baringo Trading Limited, a company incorporated in Jersey. It also owed a company called Human Potential Research Limited, described as a company “under common control”, €1.3 million at year end.

A deficit in shareholders’ funds of €155,715 was recorded at year end compared to closing shareholder funds of €80,000 in 2008.

Tony Quinn is not listed as a director of the company.

Mr Quinn is currently facing legal proceedings from shareholders aimed removing him as a director of a Central American oil company.

Most of the 400 shareholders of International Natural Energy – which discovered massive reserves of crude oil in Belize in 2005 – are Irish people who at one time attended one of Mr Quinn’s “Educo Mind Power” seminars.