Post by Deleted on Mar 25, 2011 19:12:19 GMT 1
The club have this week filed their accounts at Companies House for the year ended 31st May 2010.
At least the accounts were only a few weeks late this year so that should keep the fine down this year compared to last!
These accounts are basically season 2009/10 and they show a loss for the year of £7,000.
Due to this net debt has increased by an approximately similar amount to £64,307.
I think that is rather disappointing, after the progress made the previous year, albeit not perhaps surprising in view of the decline in crowds that season and the general economic environment.
Whilst not disputing at all that the debt is manageable, I think those expecting the club to be making good progress in paying off the debts from the overspending of a few years ago and in particular the £37,751 now owed on Directors Current Accounts (up from £35,310) so that the club will shortly be debt free and can move forward again are probably going to be very disappointed. That debt on Directors Current Accounts seems to have become the proverbial albatross around the club’s neck!
Anyone who is interested can download the club's accounts for that year from Companies House.
At least the accounts were only a few weeks late this year so that should keep the fine down this year compared to last!
These accounts are basically season 2009/10 and they show a loss for the year of £7,000.
Due to this net debt has increased by an approximately similar amount to £64,307.
I think that is rather disappointing, after the progress made the previous year, albeit not perhaps surprising in view of the decline in crowds that season and the general economic environment.
Whilst not disputing at all that the debt is manageable, I think those expecting the club to be making good progress in paying off the debts from the overspending of a few years ago and in particular the £37,751 now owed on Directors Current Accounts (up from £35,310) so that the club will shortly be debt free and can move forward again are probably going to be very disappointed. That debt on Directors Current Accounts seems to have become the proverbial albatross around the club’s neck!
Anyone who is interested can download the club's accounts for that year from Companies House.