Text at top (next game etc)

Next Game: Home Against Southport In The League On Saturday January 18th At 3.00pm ( assuming the floodlights are working )

Sunday, December 16, 2012

Hereford United's AGM Delayed


Hereford United shareholder's annual general meeting has been delayed until the middle of January.

Originally it had been hoped that the meeting would have taken place this month.

However with so much activity both on and off the pitch recently the meeting has been put back.

Meanwhile it's understood that the directors have discussed whether to put certain items into these accounts which cover the year ending May 31st 2012.

For example there are the settlements with former manager Jamie Pitman and his assistant Russell Hoult to consider. Whilst these settlements were agreed recently they relate to the period covered by the accounts. If put into these accounts they will make the loss even higher. 

However there is the view that it might be better to get the 'bad news' of a poor set of accounts out of the way especially given the current year is expected to be closer to break-even. Again this will depend on how certain items are treated but the FA Cup run has boosted income by around £170,000 and other fundraising activities by around £40,000.

This extra income of £210,000 would not have been factored in by the board when they did their budget for the current season.

Recently chairman David Keyte said that the club was losing £8,000 per home match. So given the recent cut-backs and the £210,000 extra income, it's easy to see how this season should break-even, provided any items relating to last season are put into last season's accounts.