Chesterfield FC post £1m loss for 17/18 financial year

Chesterfield FC brought in £150,000 more in transfer money in the 2017/18 financial year, but still posted a £1m loss.

Monday, 10th December 2018, 9:04 am
Updated Monday, 10th December 2018, 10:05 am
Chesterfield vs Crewe - ProAct stadium - Pic By James Williamson
Chesterfield vs Crewe - ProAct stadium - Pic By James Williamson

The Spireites have released the headlines from their accounts, which will be discussed at the AGM on 14th January.

A club statement revealed that owner Dave Allen had injected £1.3m into the club during the financial year, which closed with a loss of £1,061,270.

The previous year saw a loss of around half that.

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Turnover was down by three quarters of a million on the previous year, with reduced gate receipts and season ticket revenue, football awards cash and commercial income.

Transfer fees were up by £154,302 and employment costs were reduced by almost £300k during the financial year.

The club statement in full reads: “The accounts for the financial year ending June 30, 2018 have been released.

“CFC 2001 Limited closed the year reporting a loss of £1,061,270 compared to a loss in the previous year of £506,735.

“Turnover was down by £756,170 on the previous year. Cumulating from reduction of gate and season ticket revenue of £134,602, TV and Football Awards monies of £302,899, Commercial Income was lower by £138,735 and other income down by £334,236.

“Transfer monies received increased by £154,302.

“Employment costs were reduced by £291,147 in the 12-month period.

“Debenture loans increased by £1,287,948 with Dave Allen injecting £1.3 million into the company in the year. There was no interest payable to Mr Allen or A&S Leisure during the year.

“Former directors were paid £229,418 within the year, with interest only accruing to one.

“The rent and interest due from the Community Trust increased in the year by £20,684 to a balance of £127,159.

“The full set of accounts will be posted out to the Shareholders at least 21 days before the AGM to be held on Monday, January 14, 2019.”