The Club has submitted its annual report and financial statements for the year ending June 2024.
Summary of Accounts
In the latest fiscal period, the club has experienced a robust financial performance, marked by significant improvements across key areas. Firstly, there has been a strong increase in turnover, evidencing the club’s successful efforts in enhancing its revenue streams and optimizing operational efficiencies. Contributing to this positive outcome is a notable reduction in the cost of sales, which has further bolstered the club’s profitability.
However, it is pertinent to highlight an area of increased expenditure within the budget allocated to the 1st team. While this demonstrates a strategic investment in the club’s core sporting activities, it is an area to monitor in future financial strategies to ensure sustainable growth.
On the balance sheet, the club has made remarkable strides. We have transitioned from a position of negative net assets to a positive standing, illustrating the strengthening of our financial foundations and liquidity position. This is a testament to prudent financial management and the board’s commitment to improving our financial health.
Furthermore, the club’s commercial endeavours continue to gain momentum. Both sponsorship and hospitality revenues have increased, underlining our enhanced market appeal and successful engagement with partners and patrons. These developments not only contribute to the bottom line but also reinforce the club’s stature within the industry.
Overall, this financial period has been transformative for the club, setting a robust platform for continued growth and success.
Jonathan Bull – Commercial Director
Financial Summary of Accounts
Financial Highlights
- Income: Total income increased to £2.4 million from £2.1 million in 2023, demonstrating growth across multiple revenue streams for the club.
- Gross Profit: Gross profit rose to £1.9 million, up from £1.6 million in 2023, reflecting enhanced profitability.
- Loss: The bottom-line loss remained consistent with 2023 and is primarily attributed to asset depreciation, which accounted for £195k. Consequently, the company’s EBITDA indicates a near breakeven position.
- Liabilities: Current liabilities experienced a significant reduction, closing at £1.8 million compared to £3.6 million in 2023.
- Net Assets & equity: Investment during the year resulted in a substantial improvement in equity. The company’s reserves now stand at £932k in positive equity, compared to negative reserves of £719k in 2023. This marks a buoyant end-of-year financial position and the share premium account reflects robust investment aimed at fostering growth and future prosperity.
Owner, Robert Smethurst said:
“It is with great pride that I present the Annual Report on the financial accounts for the year ended June 2024. This year has marked another chapter of positive growth and solid progress for Macclesfield FC both on and off the pitch.”
Financial Overview
“I am pleased to report that the club has delivered a strong set of financial results. Revenues have increased year-on-year, driven by a combination of record matchday attendance, improved commercial partnerships. We have also benefited from prudent cost management and a strategic focus on sustainable growth.
“Our balance sheet remains robust, with improved liquidity and reduced debt levels, reflecting our commitment to financial stability. We have reinvested a significant portion of our income into key areas such as player development, facilities, and community outreach—ensuring we build not only for today but for the future of the club.”
On-Pitch Success and Investment
“Our investment in the first team and academy structure continues to bear fruit. The squad has demonstrated resilience and ambition throughout the season and becoming League Champions, and our player development pipeline is stronger than ever. This financial year saw strategic signings balanced with homegrown talent, aligning with our philosophy of long-term competitiveness and sustainability.”
Commercial Growth
“We have continued to expand and diversify our revenue streams. Highlights include new sponsorship deals, improved retail performance, and growth in digital engagement. The club’s brand strength is at an all-time high, supported by our amazing fanbase and a focused marketing strategy.”
Community and Legacy
“At the heart of Macclesfield FC is a deep connection with the community. This year, we increased our investment in grassroots programs, The Savage Foundation and our Community Trust Programme – We are proud to be more than a football club – we are a force for good in Macclesfield and the surrounding areas.”
Looking Ahead
“While we remain mindful of the wider economic landscape, our outlook is optimistic. We will continue to build on our strong foundations, exploring innovative opportunities to grow while staying true to our values. With our combined passion and outlooks, we are well-positioned to reach new heights for the new season.
“In closing, I would like to thank our fans, staff, players, and sponsors/partners for their unwavering dedication and belief. Together, we are shaping a bright and sustainable future for Macclesfield FC.”
