With thanks to BBS Qualified Accountants Exile and Archerfield.
Accounts for Year up to May2023
An Operating Loss of £5.8 million reduced to a Loss of £4 million by profit on transfers
"Turnover" (income) down from £15 mill to £9.5 mill mainly due to TV money share going down with relegation to Third Division from £8.6 mill to £2.9 mill. The £2.9 mill figure of income is taken back up to the £9.5 mill by ticket income (£3.4 million), merchandising and sponsorship
Salaries cut from £13.1 mill to £9.9 mill.
Debts still owing of £4 mill, being £3 mill to Crynes for purchase of club plus £1 million in loans (EFL Covid)
A loss of £15 mill in last three years.
Club only afloat because of Share Injections of £10 million (£3mill ring fenced to pay Crynes) put in by Parekh's group and by by Lee/ Conway group taking up their rights issues.
The need for promotion financially is stark as such continued losses cannot be sustained unless by more and more player sales each year.
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