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2017/8 - Accounts

Another big loss but briefer than usual accounts filed. Loan interest payable to JMP is now £6.6m

City's 2017/8 accounts, lodged on March 28 2019, did not include a profit and loss sheet as previously. It is not a statutory requirement but can be useful to understand income and expenditure. About the only number relating to the 2017/8 accounts is that there were an average of 70 employees (players, management and office) compared to 89 a year earlier.

The Balance Sheet states net liabilites of £5.481m, up from £4.174m a year earlier. The difference, slightly more than £1.3m can be assumed to be the amount "lost" over the year. That amount can be split between day to day losses and a sum due to JMP in respect of loan interest / dividends.

The accounts noted over £531k was payable to JMP in respect of loan interest and dividends payable to JMP. That leaves a further increase of nearly £776k in net liabilities, other things being equal, this coud be assumed to the loss over the season.

Straight away City will have had about £367k less income due to reduced Football League and EPPP payments. £145k was paid to the Football League Pension and Life Assurance Scheme.

Despite the decrease in numbers, the wage bill can be expected to have contributed to this loss as well as a decrease in ticket sales.

The accounts state the amount outstanding in respect of interest to JM Packaging Ltd at 30 June 2018 is £6,606,037 (up from £5,525,173 a year previous).

By contrast, in the same season, champions Salford City recorded a £1.67million loss and promoted play-off winners Harrogate Town enjoyed a £455,000 profit. (Note, their 2018/9 accounts suggested a £525k (caused by exceptional items) profit on a £728k turnover).

COMING SOON (as of April 12, no comment from YCFC): YCFC statement Read More

April 12: York Press article Read More

Further information can be gleamed from accounts filed at Companies House, both YCFC and JMP.

Further information can be gleamed from the JM Packaging accounts:

  • Turnover (income) dropped by over £611k (28%) and probably closely represented the reduced income following the FA Trophy success and around £367k less from parachute payments and EPPP funding.
  • 55 players and management staff (down from 68) were employed. This can be assumed to include first and youth team plus management and support (e.g. physio) staff. There were 15 non “football“ staff.
  • Investment properties show an accounts’ valuation of Bootham Crescent of £4.5m on an annual and open market basis, so with Persimmon’s deal to buy the ground at 90% of its value, a £5m can could be assumed.

20 Years Of City Accounts

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