BERWICK Rangers made an operating loss of just over £3,000 in the financial year ending May 31, 2009. This was opposed to a £20,000 profit the previous year, which in the main was due to a big drop in income from transfer activity.
In 2007-08 the club took in £49,000 from transfers (including Danny Swanson's sale to Dundee United), but in 2008-09 that figure fell to just £957.
The figures, which are produced in the football club's annual balance sheet, will be presented to s
hareholders at the AGM, which is to be held at Shielfield Park at the end of this month.
Turnover for the year remained constant at £257,000, just £1,500 down on the previous year, although gate receipts fell from over £53,000 to just short of £46,000 and SFA and SFL funding also reduced from over £91,000 to £78,000.
Income from advertising and sponsorship (£42,000) the Supporters' Club (down slightly at £32,000), Supporters' Trust (£1,200), the Black and Gold bond scheme (almost £10,000) and other donations (£13,000) were comparable with the previous year.
The sale of replica strips fell from almost £8,000 to just over £2,000, but there was, however, a dramatic rise in 'other income' which showed an increase of almost £26,000, up to £27,659.
Expenditure, which topped £185,000, was almost £25,000 down on the previous 12 months, but administrative costs of £73,500 meant the total outgoings virtually matched the £257,000 income.
In an effort to balance the books wages and salaries were cut from £143,000 to £130,000, but there was a £10,000 increase in bus hire and other travelling expenses, which rose from £23,000 to £33,000.
This meant the club made a gross profit of over £72,000, (£73,000 if the transfer fees are added)) but with administrative expenses (including rent, rates, repairs and general admin) included, plus additional bank interest, it meant the final loss, before taxation, amounted to £3,261. The figure, after taxation, totalled £3,848.
In the previous 12 months the club had made a gross operating profit of £98,000, (including £49,000 from transfers) which converted into a profit of £20,500 after the administrative fees and bank interest charges were deducted.
The balance sheet shows that with a historical loss carried forward of over £411,000, the new total deficit stands at £414,422.
The accounts cover the period at which point the club was subject to a take-over by a supporters-led consortium in November 2008, which was concluded in March 2009.
