June 13, 1956
Liverpool F.C. profit shows slight decrease
Transfer fees cost the club over £8,000
Gate receipts up
Liverpool F.C.’s balance-sheet, issued to-day, shows a slight decrease in profits from that of last year, the new figure being £8,500 before taxation, compared to that of £9,025 for the previous season.
The reserves for income tax and profits tax are £4,585 and the net profit is £3,997.
The balance at the credit of the profit and loss account now amounts to £58,984, and which is made up as follows: –
Brought forward from last year £55,587; add net profits for year ended May 7, 1956, £3,977; deduct dividend of 5 per cent., free of tax, £600.
The shareholders’ annual meeting will be held at the Chamber of Commerce, 1 Old Hall Street, Liverpool, on Friday, July 6, at 7 p.m.
Nominations have been lodged on behalf of Messrs. W.H. Bodley, H.L. Green, Edward Kinsey, Harry Latham, Tom Parker, Gerard Harvey Webb and Stanley Ronald Williams.
The retiring directors are Mr. Herbert Robson Roberts and Mr. Harold Cartwright, who both seek re-election.
It is owing to the death of Mr. William John Harrop, the former chairman, and Mr. Thomas McConnell (director) that two other vacancies arise.
Mr. Parker is in business in Liverpool, of which he is a native, as a cattle food distributor. He has been a shareholder of the club for about 30 years, but as a follower of the Reds he can go much further back than that. He was president of the British Hay and Straw Merchants’ Association last year, a position he was asked to continue for 1956.
Mr. Stanley Ronald Williams is a former chairman of the club. He was a director for 24 years, losing his seat at the last annual meeting.
Youngest son of a former director, Mr. Gerard Harvey Webb is 48 years of age and in his younger days was an all-round sportsman. He has been a shareholder for many years.
Residing in Southport, Mr. Harry Latham is in business in Liverpool.
Mr. H.L. Green, a solicitor, a founder-member of the firm of which he is a partner, is a resident of Hightown.
An estate agent and building society secretary, Mr. Edward Kinsey, who is 49, has acted as cashier at all home games, being responsible for the cash and turnstile returns.
Main income items
The following are the main items of income, with the corresponding figure for the previous season in brackets:
Gross receipts at League matches £120,131 (£101,315); receipts from away matches £8,992 (£8,095); receipts from F.A. Cup pool £1,025 (£1,098).
It can be seen that gate receipts both at home and away show a gratifying increase, the home figure being particularly good at approximately £18,800 more. The club’s promotion bid no doubt had a lot to do with this.
This make a total gross income from all matches of £130,149, as compared to that of £110,511 last year.
Players’ wages and bonuses at £26,284 is the main item on the expenditure side, and this shows an increase on last year’s total, which was £22,777.
Transfer fees cost the club £8,055, while players’ benefits amounted to £862, as against nil and £8,163 last year.
The main movements here were:
John Molyneux and Dick White;
Jimmy Payne to Everton.
Tommy Younger from Hibernian, was signed after the end of the financial year.
Visiting clubs took £17,137 in gate receipts from Anfield as against £13,335 the previous year, and percentage to the Football League and Association £8,809 (£6,130).
More items on the expenditure side showed a slight increase, though there was a drop in travelling expenses from £10,946 to £10,475.
Repairs and renewals show a considerable jump, this year’s figure being £2,983 (£819).
The club’s freehold land and house property figure in the balance-sheet is £41,402 and the stands £28,366.
(Source: Liverpool Echo: June 13, 1956)