As the club prepares to lodge its latest accounts for the year ending May 2024 (the period that covered the 2023/24 season), we can provide the following summary of the headline numbers and background to them.

• Total revenue for the season 2023/24 showed a decrease of £28,000. Commercial activities and revenue actually increased during the season but a poor campaign in the National League on the pitch resulted in reduced cup revenues and matchday turnover.

• Costs for the season increased by £882,000. Of this, £499,000 was related to greater player and management-related costs in a promoted season at the higher level which were subsequently further affected by the change of management and the relegation battle. Further additional increases were in travel costs as a result of promotion into the National division, together with increased admin and staff costs which included loan interest and further growth of and investment into the Women’s football programme.

• Overall trade and other debt increased in 2023/24 by £5.7m; however, of this, £2.9m was for expected amounts owed to group companies and a further £2.7m is directly related to the new stadium project that is driving the club’s goal of overall future sustainability. While the increase in debt is sizeable, it is noteworthy that fixed assets have simultaneously increased and they include capitalised assets of £3m related to the new stadium costs.

• In summary, the decrease in revenue and the increase in costs saw losses rise by £900,000 compared to the previous season. 

Alongside the stadium development project, the club remains committed to delivering sustainability on and off the pitch, with our process of exploring potential new investment opportunities still ongoing.