Gallagher plays no part in Smart Homes, says MD Conway
Published 20/06/2013 | 05:00
EX-PRESIDENTIAL candidate Sean Gallagher has declined to explain his role in home technology company Smart Homes.
When contacted by the Irish Independent yesterday, Mr Gallagher, one of the founders of the Dundalk-based company, refused to clarify whether he still plays a role at the business.
He resigned as a director in 2010 shortly before he ran for president, but is still listed on the company's website as chief executive officer.
However, it is understood that other founder Derek Roddy and new business partner Eamon Conway now lead the business.
Mr Conway said: "Sean Gallagher is no longer involved in Smart Homes and hasn't been since May 2010. I became the MD in May 2010 and still hold this position."
The question arose as it emerged that accounting firm Grant Thornton is no longer auditor of Smart Homes. Grant Thornton partner Colin Feely audited the company's most recently filed accounts, from 2011.
The company has decided to change auditors from Grant Thornton to Hughes Blake. Grant Thornton said there were no circumstances surrounding the change that it considers needs to be brought to the attention of company members or creditors.
Mr Conway said: "We decided to change auditors from Grant Thornton to Hughes Blake (Dublin) for 2013 audit, so I believe Grant Thornton has an obligation to inform CRO of this change."
Mr Gallagher founded Smart Homes in 2002 with Mr Ruddy. It is an offshoot of Home Wiring Systems, a company co-directed by Mr Gallagher, which ceased trading in 2004.
Smart Homes made a profit before tax of €21,054 in 2011 but had a deficit of €29,336 on its balance sheet, down from a deficit of €75,384 in 2010.
The accounts were abridged, meaning they contain just a balance sheet and some other relevant information, because Smart Homes qualifies as a small company.