Shrewsbury Town Football Club’s accounts for the 2021/22 financial year have been released and shared with Town's shareholders.
As with previous seasons, Salop supporter Ant Thomas has prepared a full and detailed report to help explain the accounts to all of our supporters.
You can download and read the full report HERE.
KEY POINTS:
- These accounts cover the year from July 1, 2021, to June 30, 2022 i.e. the 2021/22 season where STFC competed in League One
- This season saw some normality return with Covid restrictions being lifted, after they significantly impacted the 19/20 and 20/21 seasons.
- The period since June 30, 2022 is not covered as part of this review, as no financial information for this period is publicly available yet.
- These accounts will be publicly available via the Companies House website.
- I have not made any assumptions, judgements or estimates unless explicitly stated. This is important because it means that anyone else could reach the same conclusions as I have from reading these accounts.
- This is not an exhaustive review, but I have highlighted the key points from the accounts.
- These accounts are audited by Shrewsbury-based accountancy firm WR Partners. An audit is 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.
SUMMARY:
The headlines are as follows:
- The club made a pre-tax loss in the year of £0.2m (20/21 season - £1.5m loss). The £1.2m decrease in loss is due to: 1) An increase in turnover of £2.1m; 2) Offset by an increase in costs of £0.7m and a decrease in other operating income of £0.2m
- The club continues to have no debt and held £1.6m cash in the bank at 30 June 2022 (June 2021 – £2.3m)
- 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 2022 of £14.7m – that is to say it had £14.7m more assets than liabilities at that date (June 2022 - £15.1m)
If anyone has any questions/ comments please feel free to drop me an e-mail to ant.d.thomas83@gmail.com
