Interesting reading for all would be financial directors of non league football clubs
Forest Green Rovers made losses approaching £2.5million chasing Football League dream
By James Young | Posted: February 02, 2017
Forest Green Rovers made a loss of nearly £2.5 million for the year ending April 30 2016, the club's accounts have revealed.
The losses of £2,469,374 are down on the previous year when a loss of £2,928,709 was recoreded but mean in the last two years the overall losses are in excess of £5.3million.
The profit and loss account shows that Rovers had a turnover of £1,097,821 for the year, the vast majority of which came from matchday revenue (£656,608).
The club's wage bill for the year was an eye-popping £2,146,999 – an increase of £219,624 on the previous season.
The figure in excess of £2.1million is the largest wage bill the club have ever recorded and represents an increase of nearly half a million from 2014.
As in all accounts posted at Companies House, a statement about the long-term viability of the club as a going concern is made.
The accounts show net liabilities of more than £5million – virtually all of which is down to "amounts owed to group undertakings."
The statement reads: "Notwithstanding net current liabilities of £5,028,935 the Directors have prepared the financial statements on a going concern basis which is considered to be appropriate for the following reasons.
"The majority of current liabilities are owed to fellow Group companies and Group management have no intention of calling in these debts."
In November last year, gloucestershirelive.co.uk reported that Ecotricity – the club's overall owners – had pumped in nearly £5million to the club.
Ecotricity hold 87 per cent of the club's shares, the total book value of which, according to the latest annual return is £10,276,940.
Rovers' wage bill in excess of £2.1million was almost certainly the highest of any club in the National League and between two and three times the figure that Cheltenham Town operated with last season.
The Robins – who are yet to publish accounts for the 2015/16 financial year – are understood to have operated on a playing budget of around £700,000 for the year.
The Robins also worked with a skeleton off-field staff, whereas Rovers list an "administration and support" staff of 37, and 33 in their playing and management staff
