2018/19 accounts have been released
Shrewsbury Town Football Club’s accounts for the 2018/2019 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 18/19
If you don't want to read all of the detail below the headlines are as follows.
Please note there are a couple of significant transactions that have occurred in this set of accounts compared to previous years.
- The club made a profit in the year of £2.254m – compared to a £0.341m profit in the previous year. The increase in profit of £1.9m is due to the following movements:
- Other operating income of £3.8m in the year (£nil in the prior year)
- Offset by a decrease in turnover of £1.2m and an increase in costs of £0.7m.
- Other operating income of £3.8m relates to the “profit on sale of intangible assets”. For the club, this means the profile on player sales. It should be noted that just because the sale of a player (or sell-on deal) has occurred in the year, that does not mean the club have received the cash for that deal in full yet. More detail on the accounting and cash flow implications of this is given below.
- The club continues to have no debt and held £2.7m cash in the bank at 30 June 2019 (June 2018 – £2.9m).
- 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 2019 of £17.2m – that is to say it had £17.2m more assets than liabilities at that date (June 2018 - £14.2m).
If anyone has any questions/ comments please feel free to drop me an e-mail to ant.d.thomas83@gmail.com
Due to the current COVID 19 situation, there will be no AGM this year.