Transfer fees boost revenue

The annual report of the club has been released ahead of the annual general meeting on June 27th,

The loss for the year was £22,284 compared to £52,282 in 2019. The accumulated loss now stands at £64,148 up from £43,814.

Transfer fees were up from £20,000 to £62,500 without which the loss would have been much worse.

The report notes, ‘It continued to be a challenge for the club to retain our National League status whilst operating on a playing and management budget that remains substantially below the average of our competitors. It is a credit to the structure and operational stability of the club and the manager that it continues to attract players when the financial rewards for them are greater elsewhere.’

The total revenue of the club increased from £331,000 to £359,800.   The playing budget is £205,000.

The club was able to offset this loss in revenue from the suspension of the league with increased revenue from the transfer fees for Colby Bishop (to Accrington Stanley) and Josh March (to Forest Green Rovers) during the season and increased prize money due to a good FA Trophy run.

The club concluded a five year stadium naming deal with Midcounties Cooperative at £20k in the first year.