Quote Originally Posted by Evesham Pie View Post
OK, to try and shed some light on this I've looked at the accounts since 2019. In summary the losses since the brothers took over appear to be in the region of ?12.2m based upon the movements in P&L reserves.

At June 2019 the accumulated losses in the balance sheet were ?23.3m. These losses represent the losses under Munto, Trew and Hardy.

The 2019 accounts disclose that as part of the Reedtz takeover (post year end) that ?7.9m of debts were written off. This will have been accounted for as a profit by Notts as the waiver of money owed by the club is a gain, and therefore a profit.

At the point the takeover happened the accumulated losses would have been approximately ?15.4m (being the ?23.3m as at June 2019 less the ?7.9m profit on the debt waiver). As the accumulated losses at June 2024 were ?27.65m this implies losses under the Reedtz ownership of ?12.2m.

The losses by year, based upon the reserve movements, are :-

2020 ?4.0m (peak Covid impact)
2021 ?2.2m
2022 ?1.7m
2023 ?2.8m
2024 ?1.5m

The overall Reedtz losses of ?12.2m broadly reconcile to the debt of ?17.2m owed to the Reedtz at June 2024 when you take into account the net capex of ?2.3m, ?1.6m higher cash balance and ?1m less owed to HMRC.

Hope this makes sense.
Really good insight thanks for sharing. It’s easy to forget about the Covid times but it’s clear from the figures it cost a lot to keep the club going.

Also good to see that the losses came down to £1.5m in 2024.

It demonstrates we are a really well run club as we have finished higher in the pyramid season on season but losses are coming down at the same time as well. So a good balance appears to have been struck.

If the club could get to league one and establish itself there and start to break even or turn a profit that would be a fantastic achievement all round.