Chesterfield FC have announced a pre-tax profit of £42k after a financial year that saw them take £2m in transfer fees.
The Spireites’ debt, which was listed in last year’s accounts as £8,568,966, now stands at £8,581,018, with a further £1.74m remaining from last year’s accounts as ‘amounts falling due after more than one year.’
Of that debt, £4.35m is owed to club chairman Dave Allen, whose firm A&S Leisure Group Ltd made a further loan of £2m which helped pay off a longstanding debt to Chesterfield Borough Council.
Interest on that loan is five per cent and it is repayable over nine years.
Turnover for the year was £7,529,488, up by £184k on last year.
Also up from last year was the club’s wage bill, which taking into account salaries, social security and pensions, stood at £4,643,328.
The club’s revenue from season tickets and gate receipts fell from £2.05m in the previous year to £1.64m, a shortfall of around £400k.
Chesterfield received £1,186,472 in television and football award cash in the financial year, compared to £1.15m in 2014/15.
Selling players like Sam Clucas, Tendayi Darikwa and Sam Morsy helped the club rake in £2,009,625 in transfer fees.
And commercial income for the year was slightly down on last year, standing at £2,082,629.
The club halved their motor running costs and reduced the amount spent on training facilities, but legal and professional fees were up from £116,640 in 2015 to £269,614 in 2016.
Town’s centre of excellence, the academy that has produced players like Curtis Morrison and Ricky German, cost £227,390 to run, an increase of £50k from the previous year.
Matchday expenses and commercial and catering department expenses both fell.
All in all the club’s administrative expenses rose from £6,167,310 in 2015 to £6,432,750 in 2016, a financial year that saw face the cost of parting company with manager Dean Saunders and a number of coaching staff.
Club chairman Dave Allen called it a ‘positive’ year.
Company secretary Ashley Carson said: “Whilst the result is slightly disappointing, at the end of the day the club has made a profit.”
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