June 2, 1949
Liverpool’s £15,934 profit
Last season’s support reaches record level
Liverpool F.C. made a profit of £15,934 on last year’s working, when their gate receipts for home matches touched a new record figure of £88,291, indicative of the loyal support accorded the club throughout the season.
This profit compares with £6,354 for the previous accounting period, while the balance-sheet shows the club to be in a sounder position than ever before.
The profit and loss account now has a credit balance of £26,959 (against £20,520 last year, after £9,000 has been written off the stands for deprecation). The main items in the income account (with last year’s comparative figures in brackets) are: –
* Gate receipts at Anfield, £88,291 (£86,954);
* percentage from away matches, £13,133 (£10,080);
* transfer fees received, £12,580 (nil);
* USA tour, £679 (nil).
On the expenditure side wages, bonus and outgoing transfer fees are £19,893 (£19,064); players benefits, £3,300 (£600); travelling expenses, £9,811 (£8,530) and provision for deferred repairs, £3,939 (£5,000). £10,500 has also been added to the reserve for income tax on profits to date. Entertainments duty has dropped from £16,985 a year ago to £7,735.
Liverpool’s indebtedness to their bankers was, of course, wiped out some time ago, and the various stands have been written down until they stand in the balance-sheet to-day at only £20,000.
The annual meeting is to be held at the Chamber of Commerce on Friday, June 24 (7 p.m.), when the retiring directors – who offer themselves for re-election – are Messrs. Stanley Ronald Williams (chairman), George Richards (vice chairman) and Thomas Valentine Williams.
Nominations have been received from Messrs. C.J. Hill and R.L. Weir, but whether this indicates a contest remains to be seen. On previous occasions precautionary nominations have been withdrawn before the meeting.
Mr. Harold Cartwright, son of a former chairman, was asked by a section of shareholders to allow his name also to go forward, but declined to oppose any of the retiring directors, preferring to wait for a natural vacancy.
(Source: Liverpool Echo: June 2, 1949)