June 18, 1942
Double gates make first war credit.
The balance-sheet of Liverpool F.C. shows a net profit for the year ending May 4 last of £1,277, compared with a loss of £1,421 the previous year.
With no money coming in – or going out – in transfer fees these days, the result has been obviously largely due to increased support by the football public during the season just concluded. Gross gate receipts for League games totalled £5,404, compared with £2,473 the previous year. On top of this, Cup-ties brought in £1,593 (against £227), so that these two items for the past season showed an increase of no less than £4,297 gross.
Out of the gross receipts for League games nearly one-fifth (£1,181) went in entertainment tax and another hefty slice in percentages to visiting clubs (£1,934). Against the latter figure, however, there is a contra item of £1,56 received from away matches, so that actually Liverpool paid £278 more to visiting clubs than they received in return.
Following are the chief items of expenditure:
* Players’ wages, £659;
* Travelling, £562;
* Ground expenses, £482;
* Gate expenses, £155;
* Rates and insurances, £1,322;
* Bank charges, £1,277.
On the assets side the land at Anfield stands in the books at cost (£14,600), but the stands, fixtures and fittings have gradually been written down over the years from their original cost of £69,293 to the present figure of £29,000 (same as last year).
On the liability side the largest item is the overdraft, which now stands at £22,221, against £23,640 last year, a reduction during the twelve months of £1,419. Four years ago when a profit of £12,824 was recorded the overdraft was reduced from £27,000 to £13,000, but losses on the first two war-time seasons put that back to nearly the original figure.
Profit and loss account, with the £9,750 brought forward from the last account now shows a credit of £11,027.
Considering all the difficulties of war-time running, the balance-sheet shows a very satisfactory state of affairs, and marks in unmistakable manner the greatly improved attendances which football attracted last season at Anfield.
The directors do not recommend payment of a dividend. Even a nominal 2½ per cent on the issued capital of £12,000 fully-paid £1 shares would absorb £300, and the decision is a very wise one.
The annual meeting is fixed for Friday evening, 26th inst., at the Law Association Rooms, Cook Street, 7 p.m.
The directors retiring by rotation are: Messrs. Walter Cartwright, R. Lawson Martindale and W. Harvey Webb. As no other nominations were received they will be automatically re-elected.
(Liverpool Echo: June 18, 1942)