AFC Telford United managing director Ian Dosser has confirmed new financial figures show the club having ‘a stronger and more sustainable financial outlook’.
The club’s accounts for year ending May 31, 2022, filed to Companies House, reveal a brighter picture off the pitch for the club in comparison to the previous year, chiefly due to key share sales.
Those share purchases meant the National League North club, who look likely to be relegated this season to step three for the first time since being promoted from that level in 2007, reached the set share capital of £500,000, up from £257,700 12 months earlier. That limit was set when the club issued shares, and became no longer fan-owned, in December 2016.
The managing director added: “The additional share sales has given us a much better and more sustainable cash position and a much stronger net current liabilities position.The strengthening of the club’s finances has seen Telford’s net current liabilities fall from £122,121 to just £9,810.That figure is one the club are pleased with given several challenges.
“Also secondary spend on matchday has held up well, as it has commercial income, so thank you to the continued support of our sponsors.”
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