The financial statements for the year ended 30 June 2020 were approved by the directors on 22nd June and will be filed at Companies House today.
Copies have been emailed to shareholders who have provided email addresses, and shareholders who have opted not to receive electronic communications should receive a paper copy in the post this morning.
The financial statements report a pre-tax loss of £1m compared with £3.1m for the previous year. This included £2.1m of sponsorship income for the naming rights of the stadium. There is an additional amount of £550k reflecting the revaluation of the stadium to £5.2m recognised in the accounts as well.
Turnover increased from £3.7m to £5.4m mostly due to the above sponsorship income, as well as the restaurant and catering income being run internally once again for the duration of the year. The curtailment of the 2019/20 season obviously had a significant impact and limited income for the last three and a half months of the year following the closure of the stadium.
The player wage bill for the season was £2.1m (2019: £2.6m). This reflected the club’s League Two status in 2020 and a move in the direction of being self-financing.
If you are a shareholder and have not yet provided the club with your email address in order to receive your copy of the financial statements, please email Leanne Mayo on Leanne.mayo@scunthorpe-united.co.uk.