Oxford United, who dropped out of the Football League at the end of last season, have made a loss of £560,069 in the year to last June according to the Oxford press.
The loss includes a deficit on their pension fund.
"Having suffered the disappointment of relegation from the Football League after the 2006 season, the objective of the current directors is for prompt promotion from the Conference," say the directors.
Nick Merry is the owner of the club currently second in the Conference and almost certainly in the play-offs.
"We're looking now and have already made changes for next season, whether we go up or whether we don't go up," said Merry.
"We certainly can't have the budget that we've had because the league won't allow us to do that anyway."
Compared with some of the figures recently released the small profit acheived at Hereford United last season looks good.
Text at top (next game etc)
Next Game: Brentwood In The FA Trophy At Edgar Street On Saturday 16th November At 3.00pm