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Club News

The GTFC Accounts - Small Profit Shown

1 November 2016

THE Financial Statement for the year ending 31st May 2016 shows that the club made a profit of £59,062. This is in contrast to last year's accounts where the club made net losses of over £78,000 for the year ending May 31 2015.

The 2015/16 season had been very successful for the company and culminated in a return to the Football League following a number of seasons in the National League.

Turnover in 2015/16 was £0.5m higher than the previous year and was driven mainly by reaching the National League Play Off Final and FA Trophy Final. This improvement in turnover had a positive impact on operating profitability in 2015/16 compared to the previous year.

However, despite the increase in income, expenses going out meant that, without TV monies from the Shrewsbury game, the 2016 financial report would have shown the club probably only breaking even.

Speaking about the annual accounts, Town director Stephen Marley said: "Our gate receipts were up, our season tickets receipts were up - part of that was on the back of a successful season the season before.  We've got the extra gate receipts, we've got a play-off semi final, and we've then got the fees and the income that you get from the finals. We've got the winners fee from the play-off final, the losers fee from the Trophy final, but balanced against that, what you've got to say what expenses you have going out. You've got player's bonuses, bonuses to the managerial staff, you've also got to pay the wages for around another four weeks after the Trophy final. By the time you take that into account, then you are eroding the additional income that you are getting for being in the finals.  

Mr Marley continued: "Although we have had two successful seasons on the pitch, over those two years we have about broken even. I think that really illustrates that the only way that this club can be sustainable, on its own two feet, not being reliant on directors to keep it in existence, is to relocate. 

"We have an infrastructure here that is costly to operate and eats so much into the running costs of the club.

"Ultimately success on the pitch is the thing that drives a football club, but clearly promotion back to League Two means that you are not reliant on directors to keep the club going. It gives you the ability to be self-sufficient, but to be competitive you've got to have an infrastructure that gives you an income 24/7.

"At this moment in time we have an asset that is used once every two weeks, if you want to be blunt. In a new stadium you would have an infrastructure around activities that would generate income for the club fifty two weeks per year."

"A new stadium will give us sustainability and ability to compete at higher level. It will give us a better chance to compete at higher level as typically most clubs have either relocated or have been able to redevelop their existing stadia."

You can see the 2016 Financial Statement here.  

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