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Club News

Annual report and accounts released

14 February 2019

The annual report and accounts for Cheltenham Town AFC Ltd have been distributed to shareholders this week.

The accounts cover the period to 31 May 2018 - roughly the period of the 2017-18 season - and report a loss of £121,261 for the year following a profit of £176,803 the previous season.

Cheltenham Town finance director Clive Gowing explained: "Although this loss comes on the back of a profit the previous year, the profit for year ending May 2017 was based around some exceptional circumstances where the Board were required to look at a two year picture as we aimed to bounce back from the National League the previous season.

"Running a League Two Football Cub is a very challenging task and as a football club we continue to run a sustainable model based around cash flow. Although this may mean that certain years we record losses all of these are calculated based on our cash flow position. As a board we continually monitor our accounts and cash flow forecasts and we dedicate time at every board meeting to do this."

The annual shareholders information meeting and fans forum will take place on Wednesday 27 March at 7.30pm in the Premier Suite at the Jonny-Rocks Stadium. The meeting is open to all supporters, although shareholders will be invited to ask questions on the accounts first if they wish.

Club chairman Andy Wilcox added: "Where possible we continue to invest in the club both on and off the field and this can be demonstrated this year with substantial investment at our training ground in a new gymnasium facility, as well as some much needed investment at the ground.

"I would like to take this opportunity to thank all our supporters and sponsors for the backing they have provided and to thank our staff for their hard work in ensuring we continue to run a financially sustainable football club. At times this can be a challenge but we must continue to ensure the club remains a success both on and off the field for years to come."

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