The audited Financial Statements of Carlisle United Association Football Club (1921) Limited for the year ended 30 June 2017 have been filed at Companies House.
The AGM has been called for 4 May 2018 at 7pm where shareholders can discuss the accounts.
The key figures are:
- Headline turnover was £4.273m (2015/16: £4.415m) from all club activities.
- Business turnover was £2.280m (2015/16: £2.074m), which is an increase of £206,000 (+10%). This is the most important measure of the underlying recurring income generated by the club. By growing business turnover, the sustainability of the club is improved:
- Total match-day income primarily comprises season ticket income and match ticket income. This was £1.140m in 2016/17 (2015/16: £1.094m).
- Business turnover from commercial activities was up +9% to £834,000 (2015/16: £764,000).
- Football income from EFL and Premier League of £919,000 (2015/16: £725,000).
- Academy grant income from EFL of £424,000 (2015/16: £319,000).
- Football Fortune £484,000 (2015/16: £1.223m) comprises cup income, player sales income and play-off income.
- Underlying Contribution of £1.370m (2015/16: £1.157m) is up +17%. Underlying Contribution measures the club’s long-term ability to pay for its football activities, from its own trading resources, without extra funding provided by shareholders, external funders or windfalls, such as non-recurring income from cup runs.
- Total Football Expenditure was £2.469m (2015/16: £2.151m), an increase of £324,000 (+15% increase) following a +22% increase in 2015/16. This primarily relates to player costs (salary, bonuses, expenses, agents) and football operation costs (football staff salaries, bonuses, benefits, medical costs, travel). It measures how much is spent on football activities.
- Overall loss for the year was £209,000 (2015/16: £40,000 profit).
- During the year a value of £480,000 directors’ loans were exchanged for equity. As a result, the total debt of the company at 30 June 2017 was largely unchanged at £2.01m (30 June 2016: £2.02m).
We have adopted a new approach by increasing the depth and detail of our report this year.
We have outlined the overall objectives and explained the club structure, as well as providing a comprehensive commentary on the financial performance, position and prospects, in a manner not done before.
Also, for the first time, we have produced key performance indicators to track progress. We believe this is the right thing to do and that it will help to increase understanding of the way the club operates in all areas. We see this as beneficial, and hope it is welcomed and received as being another step forward in the manner in which the club communicates with its fans.
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