Walsall Football Club have today released the latest 'Directors Report and Financial Statement' for the year ending 31st May 2014.
Walsall Football Club Ltd posted a trading profit of £19,000, for the financial year ending May 31, a decrease of £4,000 on the previous year. However, the club were also able to reduce their net debt considerably, down £377,000 to £2.3 million.
Whilst turnover jumped from £4.76m to £5.3m, due in part to a significant rise in turnover at the turnstiles, with the club claiming £1.15m in gate receipts compared to £885,000 a year ago.
Released via saddlers.co.uk, Chairman Jeff Bonser confirmed; "On behalf of the Board of Directors I am pleased to present the Annual Report and Accounts for the year ended 31st May 2014.
"I am delighted once again to be able to announce a trading profit for the year, this time of £19,000. This is even more significant in light of the fact it has been achieved whilst at the same time the club has managed to reduced the net debt by £377,000.
"At first-team level we again saw steady progress as the club and Team Management continued to develop and implement our ‘Football Philosophy’, although unfortunately the early season promise on the pitch gradually faded as we ran out of steam during the end-of-season run in which ultimately saw us secure a comfortable mid-table finish.
"One bright note of the season saw the team win the 2013-14 FA Respect & Fair Play Award for League One. We joined Liverpool, Burnley and Exeter City as the other divisional winners of this award, which recognises fair play. In receiving just 36 yellow cards in League games last season and five red cards the team posted the lowest total in the League. Furthermore, we also committed the fewest fouls – 368.
"This, I believe, is something we as a club should all be very proud of.
"The perpetual necessity of our EPPP Academy was again evident during the year as the latest graduates rolled off the production line in the form of Amadou Bakayoko, Liam Kinsella and Rico Henry who all put pen to paper on professional deals as they continue their impressive rise through the ranks here at Banks’s Stadium.
"We have continued to enjoy fantastic support from all of our Sponsors and Commercial Partners off-the-field. I would like to take this opportunity to place on record my personal thanks to the organisations and individuals involved who have provided constant support to the club throughout the season. In particular I would like to thank outgoing ‘Front of Shirt Sponsors’ CAT Communications and ‘Academy Sponsors’ Walsall Housing Group. A special mention is also deserved for the ongoing contribution of Banks’s Brewery, Dains LLP, Tile Choice and the Walsall FC Community Programme.
"We simply could not operate without such generous support.
"Moreover, we were very pleased to announce the return of HomeServe as our Principle Partner taking on the ‘Front of Shirt’ Sponsorship, ‘Main Stand Sponsor Sponsorship’ and ‘Academy Sponsorship’ initially on a three-year deal with the option to extend for a further two seasons. Also new to the fold for the 2014-15 Season are Acorn Group and the University of Wolverhampton.
"As always I would like to pay tribute to the work of the Community Team whose activities enrich the lives of thousands of people in the borough of Walsall and once again like to place on record my thanks to my Board colleagues and the staff at the Banks’s Stadium for their continued hard work and enthusiasm.
"Unfortunately, we were deeply saddened to announce the passing of Director, Clive Welch, in June 2014 following a long battle with illness. A lifelong supporter of the club, Clive joined the Board in 1991 shortly after I took over as Chairman. A successful hotelier in Blackpool, he was a regular at home and away matches despite being based in the north-west and his passion for the club never waned.
"Clive was an extremely valuable member of the Board. I was first introduced to him in the early 1990s and it was clear to see straight away how deeply he cared for the club. At a time when we were losing thousands of pounds every week, he stepped up to the plate because he could see a bright future for the club. He had no hesitation in investing in our future back then and he continued to do so over the past two decades, giving us outstanding support. During that time he became a very close and dear friend. He will be sadly missed by all as a friend and Director of the club.
"Finally, on behalf of everyone at Walsall Football Club, I would once again like to say a big thank you to our supporters for their continued loyalty and commitment to the club, and to assure them that all of our efforts and hard work are focused on continuing to give them a team and a club to be proud of."
The full financial statement can be found HERE.
The full financial statement can be found HERE.