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2019/20 - Accounts

Another big loss and the usual brief filing. Loan interest payable to JMP is now over 9.2m

City's 2019/20 accounts, filed on 25th March 2021 at Companies House, once again did not include a profit and loss sheet. It is not a statutory requirement but can be useful to better understand income and expenditure in year. About the only numbers relating to the 2019/20 accounts are the number of employees, net liabilities and JMP loans.

The figures relate to the curtailed 2019/20 season, so lacking the expected income from 4 covid postponed home league games and the behind closed doors play off game, on the other side of the coin, wages might be a little lower given the club went on furlough. The sale of Ben Godfrey came too late for inclusion in this set of accounts, but may include up to 300,000 received for performance related clauses whilt at Norwich during their 2019/20 Premier League season.

Further details can often by gleamed from the JM Packaging accounts (filed 8th April 2021). They showed YCFC turnover of 1,267,080 (up from 1,020,267) and that JMP received 84,352 in government grants, probably furlough but no indication if it was for YCFC or JMP staff.

YCFC accounts show there was an average of 45 employees (players, management, office and directors) compared to 45 a year earlier. It is not an unreasonable number given the playing squad, including youth team, and is largely reflective of less player turnover than recent years. JMP accounts show 33 players and management (down from 39).

The accounts approved by the YCFC board on 25th November 2020 contained the usual statement that "JMP provided assurance that funding would be made available for the next 12 months from the date the accounts were signed".

The accounts state:

  • Net total liabilities increased by 1.085m to 8.092m.
  • The amount outstanding in respect of the JMP Limited loan, at 30th June 2020, was 9,220,180 (up from 8,091,944 and 6,606,037 in the 2 previous years).
  • In the year, interest payable to JM Packaging Limited was 650,162 (up from 560,906). An amount of 95,148 (up from 82,449) is also due in respect of non payment of prefential dividends relating to Ordinary "B" Shares.
  • As the amount owing to JMP increased by 43k more than net total liabilities (and assuming no Godfrey income), it could be assumed on a day to day operating level, the club is breaking even.
  • No change in the football club's investment in Bootham Crescent Holdings Limited which is stated at its 2012 valuation of 3.764m against an original cost of 2,011,115. Note, the 2012 valuation is presumably be based on a site without planning permsission.

York Press article: 2019/20 accounts

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

Health Warning: This analysis is provided by a layman with no accountancy training / experience but with an eye for numbers.

20 Years Of City Accounts