Town post healthy accounts for the financial year for 2016/17
Shrewsbury Town Football Club’s accounts for the 2016/2017 financial years have been sent out to shareholders.
As with previous seasons 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 16/17
If you don't want to read all of the detail in the link the headlines are as follows for the year to 30 June 2017:
- The club made a profit in the year of £409k – compared to a £1,233k profit in the previous year. This is due to:
an decrease in turnover of £2,145k
offset by a decrease in costs of £335k and an increase of other operating income of £988k.
- These accounts include the sale of two acres of land to Lidl, the purchase of the training ground and initial subsequent renovation project and of course any costs incurred in attracting Paul Hurst to the club as manager.
- The club continues to have no debt and holds around about £1m 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 2017 of £13.9m – that is to say it had £13.9m more assets than liabilities at that date.
We will be sitting down with CEO Brian Caldwell later today to talk about the accounts, and other subjects.
The AGM will be held at the Montgomery Waters Meadow on Thursday 29th March.