In an interview with BBC Merseyside Martin Foyle, now at Southport, has looked back at his time at Edgar Street.
"Hereford was a good club," said Foyle.
"There were some really good people there.
"I really enjoyed working there.
"They got relegated from League Two and I picked up the pieces.
"The players that were on Football League contracts, some of them were on ridiculous money.
"That was probably the downfall of the club that they didn't have any relegation clauses in the contract.
"Obviously the money was just going out the doors left, right and centre.
"Then we had the transfer embargo for about five months and the players not being paid for about four months.
"So to finish sixth was a fantastic achievement for the players.
"Unfortunately the four younger ones who were playing upfront for me all moved on and we sold them on.
"I would have loved to have kept them but every penny was needed throughout the club.
"I think you could get away with it for one year. And that's what we did.
"Then we went to the second season and all the assurances from the board that we could promote our youth policy.
"We went further afield than Hereford and brought in some good younger players.
"So the signs were good, but we only got to October which was very poor and we couldn't pay the youth boys which was bitterly disappointing.
"There were a lot of the tricks of the trade going on behind which we not very very nice.
"But I'm certainly a better person for it because I know my morals were very very good.
"Unfortunately some people didn't have the same as me."