Latest accounts due shortly

The latest annual accounts for Hereford United are expected to be made public within the next couple of weeks. Sources close to the club suggest that the accounts have been finalised by Baker Tilley, but are with the club directors for approval.

These accounts cover the year to May 31st 2004, or in other words, last season. That period included an average Conference gate of around 3,800 which in itself will have brought much needed extra revenue into the club.

The initial sale receipt of the Paul Parry transfer to Cardiff City will be included in the accounts but it is uncertain whether all the add-ons, such as appearance money etc, will be taken into account. It is unlikely that any amount not actually paid will be logged as it would be prudent to carry that over to the next account.

It now seems quite possible that the profit last year could be around £200,000 and with reasonable gate receipts this season, sell-on money from the transfer of Gavin Williams, and more income from the Paul Parry sale, the year that ends next May could also show a positive outcome.

Recently it was reported that the club has paid off its overdraft. That leaves the loans to Formsole as the only major debt remaining, now that the CVA is settled.

Financially Graham Turner and his board have turned Hereford United around. After all the club could easily gone out of business a few years ago.

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