Town post healthy accounts for the financial year for 2015/16Shrewsbury Town Football Club’s accounts for the 2015/2016 financial years have been sent out to shareholders. This season’s accounts show a healthy profit in the main due to a good FA Cup run and the sale of a number of players during this period.
As with previous season Town supporter Ant Thomas has prepared a report to help explain the accounts to all supporters.
To view Ant’s full report you can read it here > Shrewsbury Town Accounts Report 15/16
If you don't want to read all of the detail below the headlines are as follows for the year to 30 June 2016:
- The club made a profit in the year of £1,233k – compared to a £480k loss in the previous year. This is due to:
o an increase in turnover of £2,883k
o offset by an increase in costs of £1,170k
o this included an increase in wage/ salary costs of £739k.
- The club continues to have no debt and holds around about £2m cash in the bank.
- The directors took no salary or dividend payments from the club consistent with prior years.
- The club was in a positive net assets position at 30th June 2016 of £13.1m – that is to say it had £13.1m more assets than liabilities at that date.
Shrewsbury Town’s CEO Brian Caldwell has spoken about the accounts and has highlighted that the good figures during the 2015/16 financial year have allowed the club to invest in a number of projects. The main one being the ongoing renovation of the pitches and buildings at the training ground at Sundorne
“The financial year to June 2016 was an exceptional year with the FA Cup run and sale of players making it a very successful year for the football club”, said Brian.
“We said last year we wanted to invest because of the successful year we had allowed the investment and expenditure on the training ground at Sundorne.
“It’s always about long term investment because a football club is very hard to run and be sustainable but we have to try and be like that.
“Any extra money we get we can’t guarantee every year so when it does come in we have to use it on long term investments.”