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Star owed his own firm €250k as assets slumped

GERRY Ryan's company still lists estranged wife Morah as secretary -- but shows that assets fell by €29,000 within the last year.

The RTE broadcaster was paid through Balcom Management, one of his own firms.

The firm's assets plunged from €118,000 in 2007 to €89,000 in 2008, according to accounts filed with the Companies Registration Office in October last year.

RTE gave Gerry €1.3m over 2007 and 2008 but he borrowed more from Balcom last year and owed it €246,200.

Tangible assets at the company dropped from €118,503 to €89,467 year on year.

Morah Ryan remained as secretary with the company even though she and Gerry separated in 2008.

Total assets less current liabilities fell from €464,249 to €393,334 within the year.

Creditors with the company increased to €91,414 from €12,568 last year.

And at the end of the year, the company director 'Gerard Ryan' owed the company €246,242 in loans. This was an increase from €161,738 in 2007, an additional €84,504 in 2008.

The 2fm DJ's pay fell by 7pc in 2008 and he agreed to a further 10pc cut, but he remained RTE's second-highest earner.

Earlier last year it was suggested that the top earners at RTE would have to face pay cuts as revenue plunged by €11m and television and radio advertising was badly hit.

Pat Kenny, who was paid €850,000, and Gerry, who received €559,990, resisted that salary cuts initially. Gerry responded to the calls for a pay cut as "bullshit".