Chorley FC's Accounts.

Thought our resident Chorley fan may find the following of some interest!

I won't go into too much detail but Chorley FC is owned by a holding company Chorley Sporting club Ltd (just in the same way as BWFC (the football club) is owned by FV).

The accounts for the holding company shows they made a profit of £13k for the year up to 31st May, 2022 but the football club showed a loss of near £180k.

I've not looked at the accounts in any depth but at first glance it looks as though the footy club has spent £80k on their ground (on their 'stand') and another £10k on other assets around the ground.

They also appear to have taken on an additional amount of £45k trade creditors (people who supply goods to them and have yet to be paid for them).

Seems they have also taken on loans of £77k (of which £10k needs to be paid back in 2 years and £67k that needs to be paid back within 5 years).

The total of these amounts come to around £210k

To offset that somewhat the club is owed an increased £50k from trade debtors (maybe awaiting money from a club sponsor perhaps?) and have spent out £130k from their bank account (being £130k less at the end of the accounting year than the start of it).

It's worth noting that the holding company received a Covid loan of £44k during the year.


As I say I've not looked into the figures too deeply so there may well be stuff I've missed but my first thoughts are that it seems the club has needed to do some sort of upgrade to their stand and have had to take loans out (for over one year) that they don't seem to have needed to for at least the previous year, to presumably help fund this - and have also had to cover losses/cash flow due to Covid (hence the Covid loan?) during the financial year.

My gut feeling is that things seem fine with the business (even though it seems to have taken on recent debt) and the two majority owners of the club seem to have been around for years, which usually is a sign of financial stability.

Up the Magpies!

Holding Company
https://find-and-update.company-information.service.gov.uk/company/02953426/filing-history

Footy club
https://find-and-update.company-information.service.gov.uk/company/02959001/filing-history?page=1

Interesting read. Thank you.

I wonder what they spent the FA Cup money from 2021 on? They must have made a few quid for reaching the 4th round and being on TV against Wolves.

Natasha Whittam wrote:Interesting read. Thank you.

I wonder what they spent the FA Cup money from 2021 on? They must have made a few quid for reaching the 4th round and being on TV against Wolves.

I would expect that their 2020/2021 cup run monies would have been shown to be received in their previous financial year (up to 31st May, 2021) and may explain why they had so much money in their clubs bank account at the start of June 2021 and £130k less at the twelve months later at the end of May 2022.

It seems to me that a chunk of the money generated from the FA Cup run probably has helped finance the work done on their stand in the last 12 month period.

Fwiw a quick google (fa cup fourth round prize money) shows the fourth round winners for this seasons FA Cup will receive £120k, so with gate and merchandise revenue, the figure of £130k would seem pretty much spot on, as Chorley's FA Cup run income in 20/21, although of course that could simply be a coincidence and not related at all.