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Old 29th March 2018, 15.05:22   #1-0 (permalink)
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Default Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

https://www.wrexhamafc.co.uk/news/ne...season-2016-17

Wrexham AFC are pleased to release our report of directors and audited financial statements for season 2016/17.

The performance of the business resulted in turnover increasing from £2.1 million to £2.6 million, and returning a profit before depreciation and amortisation of £150,000 against a budgeted loss of £70,000, the second profit posted in the last three financial years.

The financial statements also mark the first year where we have assumed operational control of the Racecourse Ground and therefore additional revenue and expenditure items are reported, including an increase in the number of employees.

The club did benefit from transfer fee income and these have been recorded in the profit and loss account at their full value, but supporters will notice the increase in trade debtors on the balance sheet, and this reflects that part of the payment of the transfer fee income not due until the current financial year.

This, along with additional stadium income towards the end of the Financial Year, allowed the club to prepare for the current campaign, where we sit in a healthy fourth position ahead of a busy Easter weekend of fixtures.

Investments in the football club by supporters continued to increase and with the 'Build the Budget' initiative, the total amount invested is now above £1 million after six full years of supporter ownership.

A full presentation of the financial statements will take place alongside and the Annual General Meeting, to be held on Thursday 12th April, together with a trading update on the current season.

All paid up club members are entitled to attend the meeting, to be held at the Centenary Club, commencing 7.30pm.

The AGM will also include a presentation of the financial statements of WST Assets, the sister company of Wrexham AFC and the holder of the 99-year lease on the Racecourse.
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Old 29th March 2018, 15.09:51   #2-0 (permalink)
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Default Re: Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

Well done to all involved running this club behind the scenes. You're doing a fantastic job and don't get anything like the credit you deserve. You just have to look at our near neighbours to see how hard running a football club is, never mind turning a healthy profit.

I won't be too harsh, as I don't like to speak ill of the dead, but it makes me think of how wrong Stephanie Booth was in those immortal words "It will be the fans that kill this club".
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Old 29th March 2018, 15.10:42   #3-0 (permalink)
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Default Re: Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

Great news, and hope all the managed decline / fans ownership will never work posters can see the progress made.
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Old 29th March 2018, 15.14:05   #4-0 (permalink)
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Default Re: Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

Brilliant, The usual suspects will have a dig though.
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Old 29th March 2018, 15.19:34   #5-0 (permalink)
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Default Re: Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

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Originally Posted by El Jonez View Post
Great news, and hope all the managed decline / fans ownership will never work posters can see the progress made.
They will choose to ignore it and will avoid the embarrassment of attending the AGM, probably.
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Old 29th March 2018, 15.19:37   #6-0 (permalink)
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Default Re: Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

The foundation for our future success - thank you and well done!
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Old 29th March 2018, 15.31:34   #7-0 (permalink)
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Default Re: Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

I wonder how many other football clubs at our level are profitable? I'd imagine I could count the number on one hand. This is pretty miraculous and I have huge admiration and respect for the people running the club.
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Old 29th March 2018, 15.33:37   #8-0 (permalink)
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Default Re: Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

Quote:
Originally Posted by DenbighRed View Post
Well done to all involved running this club behind the scenes. You're doing a fantastic job and don't get anything like the credit you deserve. You just have to look at our near neighbours to see how hard running a football club is, never mind turning a healthy profit.

I won't be too harsh, as I don't like to speak ill of the dead, but it makes me think of how wrong Stephanie Booth was in those immortal words "It will be the fans that kill this club".
That day Stephanie Booth stood on the centre spot with the envelope makes me cringe even now.
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Old 29th March 2018, 15.38:17   #9-0 (permalink)
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Old 29th March 2018, 15.47:25   #10-0 (permalink)
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Default Re: Wrexham AFC Post Another Profit Under Fan Ownership - Accounts Season 2016-17

so what was the profit after depreciation?
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