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Club Accounts available on-line
Club Accounts available on-line

Reality football; not fantasy football

The Trust's subsidiary company - York City Football Club Limited - recently announced its financial results for the year ended 30 June 2004.  This was the first full year under Trust control.  The Club announced an overall profit of 84,000.


Accounting rules and regulations are such that profits are not necessarily the same as money in the bank.  And the Club's cash outflows have exceeded its inflows over the year.  Going forward, the financial situation continues to be very challenging and, inevitably, the Club's relegation to the Conference has a financial impact.


Last summer, the Trust published an outline budget for the Club for the 2003/04 season.  Despite all the difficult circumstances, the budgetted breakeven position was accomplished (and slightly bettered, given the receipt of some unbudgetted transfer fee income).


The financial results demonstrate the dramatic - and absolutely essential - turnaround in the club's financial management and control compared to the previous years between 1999 and 2002/03.


Gate receipts reached a record high at almost 0.8m.  Commercial and other income exceeded 0.5m for the first time in the Club's history, in part demonstrating the returns from a variety of new income generating initiatives and commercial arrangements.  Going forward, both the Trust and the Club have identified that it is very important for York City to generate a greater level of support from the local business community.  Action and initiatives continue on this front.


To download a copy of the Club's financial statements for 2003/04, please click on the link http://www.ycst.org.uk/accounts_2004.pdf


 


 

 
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