Town post solid accounts for the financial year for 2017/18
Shrewsbury Town Football Club’s accounts for the 2017/2018 financial year have been sent out to shareholders.
As with previous seasons Town supporter Ant Thomas has prepared a full and detailed report to help explain the accounts to all of our supporters.
To view Ant’s full report you can read it here > Shrewsbury Town Accounts Report 17/18
There are a few key things to remember before you start reading:
- These accounts cover the year from 1st July 2017 to 30th June 2018 i.e. the 2017/18 season, where STFC competed in League One.
- Private companies are required to prepare accounts and submit them to Companies House within 9 months of the year-end – for STFC this deadline is therefore 31st March 2019.
- This means that the period since 30th June 2018 to now is not covered as this information is not yet publicly available.
- These accounts will be publicly available once filed and anyone else could obtain them from Companies House.
- These accounts are audited by Shrewsbury based accountancy firm Whittingham Riddell LLP. An audit is effectively a check on the accounts to make sure they are free from 'material' error i.e. that they do not contain any significant errors which would change the views of those reading them.
To summarise the headlines in the report are as follows:
- The club made a profit in the year of £341k – compared to a £409k profit in the previous year.
Overall the movement is due to
- An increase in turnover of c. £1.9m
- Offset by an increase in costs of c. £0.9m and a decrease in other operating income of c. £1.0m
- The club continues to have no debt and held around £2.9m cash in the bank at 30 June 2018 (June 2017 – £1.1m).
- The directors did not take a salary or dividend payments from the club consistent with prior years.
- The club was in a positive net assets position at 30th June 2018 of £14.2m – that is to say it had £14.2m more assets than liabilities at that date (June 2017 - £13.9m).
If anyone has any questions/ comments for Ant he would be happy to answer, his email address is ant.d.thomas83@gmail.com
You can watch CEO Brian Caldwell talk about the accounts by clicking on the video above on IFollow for FREE.
The AGM will be held at the Montgomery Waters Meadow on Thursday 21st March at 10am.