The Club has today published its annual report and financial statements (“the accounts”) for the year ended 31 May 2021.

Like last year, more information is provided to read next to the Accounts to allow Supporters to be better informed about Club activities.

The report indicates the situation as of May 31, 2021 and the year preceding this date. The impact of the Covid-19 pandemic prevailed throughout the year.

Main results:

Turnover is down from £1,389,000 to £4,208,000

Operating costs are down from £1,023,000 to £4,804,000

Other exploitation products increased from £333,000 to £618,000

Interest payable reduced from £21,000 to £9,000

resulting in a profit of the year of £13,000 (2020 – £25,000)

This small profit is a reflection of the Club’s longstanding policy of reinvesting as much of its income as possible to spend on the gambling side of the Club without causing unnecessary debt in the process. The aim of the Club is to aim for success while ensuring that it is sustainable.


Turnover obviously fell due to the continued impact of Covid-19. The entire season has been played behind closed doors, which has had a significant knock-on effect on revenue. In matchday revenue, only season ticket revenue of £374,000 was generated during the year, with individual matchday revenue down by £541,000 from the previous season. Average attendance dropped from 4,517 in the 19/20 season to NIL in the 20/21 season.

Football and commercial revenue, which includes items such as all other football revenue (excluding match receipts), conference and event revenue, M6 digital advertising, Sunday market and sales retail stores collectively fell from £848,000 to £3,834,000.

The Club also received £618,000 in the financial year as a result of taking advantage of the government’s coronavirus job retention scheme to make some staff redundant.


Operating costs fell by £1,023,000 as a direct result of nationwide restrictions, meaning the stadium was closed for long periods during the year.

Net debt:

The club’s net debt, which includes directors’ loans and a new coronavirus business interruption loan (CBILS) of £500,000, rose by £462,000 to £2,362,000. Loans to directors at balance sheet date amounted to £1,176,000 (2020 – £1,180,000).

The supporters have played a major role in helping the club by leaving their subscription money to the club for matches which have been played behind closed doors due to the government and we are extremely grateful for the continued support.