On the Telford post the financial progress of the club was being discussed and various misconceptions and inaccuracies were occuring so I thought I would start a new thread and post some actual factual information taken directly out of the clubs accounts for the last 6 years, the latest accounts being published to shareholders today.
It should be noted that the current board inherited shareholder funds of (600K ) ie in debt ) and a short term lease of the ground.
Year Turnover Profit Shareholder League FA cup Other notable
ended 1000's or loss Funds in for year progress events
31 May K K K
2011 553 (62) (40) BSP Lost FAC 4Q Gateshead
2012 416 2.5 (37) BSN Lost FAC2Q Witton
2013 475 386 348 BSN Lost FAC1 Replay Burton Duncan Watmore sold
2014 507 (16) 332 BSN Lost FAC2Q Trafford CSH started being built
2015 587 (39) 292 NL Lost FAC1 Blyth CSH built
2016 675 27 319 NL Lost FAC2 Colchester
The clubs assets have increased from approx 300K to around £1m today.
The club now has an 80 year lease on the ground.
The club has NO DEBT or directors loans.
The club has increased turnover to the highest level ever achieved.
These accounts do not include the CSH income/expenditure as this is a not for profit social enterprise. It is on budget.
Hopefully publishing these figures will correct various misconceptions.
Unlike Telford, and many other NL clubs AFC is financially very stable and living with its (increasing) means.
The benefits that the AFC board foresaw of building the CSH are now being realised in terms of future financial security and stability.