More about the disappointing accounts

A more detailed look at the latest Hereford United accounts reveals that the club was only kept in profit because 'donations received' rose from £45k to £95k.

Where that extra revenue came from is not stated.

The accounts suggest why Graham Turner may have felt the need to accept bids for both Andy Williams and Tamika Mkandawire recently as it now looks unlikely that the club will be able to do much more than balance the books in the current twelve months.

However the Board of directors appear to remain confident of the club's future.

The Board of Directors are pleased to report another profit for the season 2005-2006. The good financial results reflect a successful season on the pitch, including promotion back into the league.

The financial situation of the company is now better than it has been for a number of years. We hope that this is a base from which we can build further success in the future.

It is now clear that in the long term the Club will continue to play at Edgat Street and that the ground will be developed and refurbished in partnership with Developers.

The profit for the year is just under £8,000. down from £291,880 last year. However the debt is still over £750,000.

Staff costs have risen from £615,202 to £754,989. Transfer fees received down to £31,997 from £89,375 the previous year. Gate revenue is down by around £80,000 although season ticket receipts rose by £15,000. Prize money rose by £24,000 and sponsorship by £19,000. Club shops sales dropped by £13,000.

---