Walsall Football Club have published their latest accounts today. They show that in the year to May 31st 2013, the club made a small profit of £23,000.
Whilst that looks poor against a turnover of £4,759,000, it is way above the League One average as the latest figures available show an average loss of £2.4M.
However even with one of the smallest budgets in the league, the club recorded its best season for ten years.
A few interesting points from their accounts.
Match receipts amount to less than 20% of income.
Revenue from Central TV fell by 26%. To balance that fall a reduction in the Players Buget was made in a ' controlled and constructive manner'.
The club has unfolded a 'Football Philosophy' ideal which 'defined the way in which we wanted our teams to play'. The foundations were laid by team manager Dean Smith, the former Hereford United player.
There are three 'key characteristics' in the 'Philosophy' ideal:
- A possession base game, encouraging a fluid style of play.
- A team characterised by hard work and embracing a team ethic.
- A policy of bringing young talent through the Academy system already schooled in the other aspects of the philosophy.
Meanwhile the shareholders funds at the club amount to £3,030,000.
Included in the assets is the value of the ground and training areas both of which are on long leases.
The chairman of the club, also a director, JW Bonser is described as 'the ulimate controlling party'. His loan to the club is currently £1,674,909. The club repaid him £57,178 in the last year.
Other directors have loans to the club amounting to £710,000. These directors received £16,800 in interest in the year covered by the accounts.
Total loans by directors amount to £2,325,000. £600,000 of which are secured by way of a legal charge over the ground.