Weekly statement 12th June

[FieldtownRed]

https://wst.org.uk/wp/?p=1301

[WrexhamO]

£190K in the WST bank, the football club have made no call on these funds yet - and yet here they are fundraising!

[WrexhamO]

Trust Funds

Thank you to all the supporters that have renewed their Membership and those that have supported our recent fundraising campaigns. Including all our revenue streams, the Trust now holds £190K of cash reserves.

The Club has made no call on Trust funds in the period since our last update when our balance was £178k. However, the financial future of all football clubs is uncertain and, whilst, we hold a healthy balance at present, this will be eaten into as we still have to meet our financial obligations.

Thank you for your continued support during this difficult and challenging time.

Club Funds

We will be in a position to give a full update on the club’s financial status in the next two weeks. Currently we are meeting our obligations and are able to do so for the foreseeable future.

We have not made a call on WST funds at this stage but may do so in the future. We are in the process of reviewing all of our expenditure and are having discussions with our partners in a bid to better manage our costs.

In the next week we have meetings booked with our local MP , Sarah Atherton, to discuss our payments to HMRC. We are up to date with our payments but would be looking for future payments to be deferred, at least until we can start playing football again.

We also have a meeting with our Senedd member Lesley Griffiths to discuss areas that we may need the support of the WAG. As a Welsh club in an English competition we are subject to different lockdown restrictions than our rivals. This could lead to obvious difficulties when the time comes to restart. Cardiff, Swansea, Newport and Merthyr will face similar challenges.

[FieldtownRed]

"The obvious question at this stage is how long will our money last for. The answer to that is that it is not possible to give a definitive answer. We are managing our funds carefully and always looking to reduce our costs."

Maybe try increasing revenue too? Just an idea....

[FieldtownRed]

Originally Posted by WrexhamO

Trust Funds

Thank you to all the supporters that have renewed their Membership and those that have supported our recent fundraising campaigns. Including all our revenue streams, the Trust now holds £190K of cash reserves.

The Club has made no call on Trust funds in the period since our last update when our balance was £178k. However, the financial future of all football clubs is uncertain and, whilst, we hold a healthy balance at present, this will be eaten into as we still have to meet our financial obligations.

Thank you for your continued support during this difficult and challenging time.

Club Funds

We will be in a position to give a full update on the club’s financial status in the next two weeks. Currently we are meeting our obligations and are able to do so for the foreseeable future.

We have not made a call on WST funds at this stage but may do so in the future. We are in the process of reviewing all of our expenditure and are having discussions with our partners in a bid to better manage our costs.

In the next week we have meetings booked with our local MP , Sarah Atherton, to discuss our payments to HMRC. We are up to date with our payments but would be looking for future payments to be deferred, at least until we can start playing football again.

We also have a meeting with our Senedd member Lesley Griffiths to discuss areas that we may need the support of the WAG. As a Welsh club in an English competition we are subject to different lockdown restrictions than our rivals. This could lead to obvious difficulties when the time comes to restart. Cardiff, Swansea, Newport and Merthyr will face similar challenges.

Why not speak to HMRC directly or to their accountants?

I've deferred my ltd company taxes simply by asking my accountant via email. Didn't feel the need to rope my MP into the conversation.

[Foxy]

Positivity there in that the Uk Govt is indicating that the season could start in September with crowds, maybe 30% of capacity. That would mean 2500-3000 at the Racecourse or 4000 if the Kop could be reopened.

However the barrier will be Dark Age Drakeford and his cronies. I can picture a situation where spectators aren’t allowed in Wakes till 2050, or whenever we have a vaccine for all illnesses and viruses , or possibly when we have a treatment to allow eternal life.

[subbuteorob]

Originally Posted by Foxy

Positivity there in that the Uk Govt is indicating that the season could start in September with crowds, maybe 30% of capacity. That would mean 2500-3000 at the Racecourse or 4000 if the Kop could be reopened.

However the barrier will be Dark Age Drakeford and his cronies. I can picture a situation where spectators aren’t allowed in Wakes till 2050, or whenever we have a vaccine for all illnesses and viruses , or possibly when we have a treatment to allow eternal life.

[138+NotOut]

Originally Posted by Foxy

Positivity there in that the Uk Govt is indicating that the season could start in September with crowds, maybe 30% of capacity. That would mean 2500-3000 at the Racecourse or 4000 if the Kop could be reopened.

However the barrier will be Dark Age Drakeford and his cronies. I can picture a situation where spectators aren’t allowed in Wakes till 2050, or whenever we have a vaccine for all illnesses and viruses , or possibly when we have a treatment to allow eternal life.

Yeah obviously

[Inside Left]

Originally Posted by FieldtownRed

Why not speak to HMRC directly or to their accountants?

I've deferred my ltd company taxes simply by asking my accountant via email. Didn't feel the need to rope my MP into the conversation.

There is a break for all until January - under some headings Am I correct?