Darlington FC has today released 2022/23 accounts to shareholders and owners.

As a fan owned club, we are committed to keeping our supporter-owners fully informed on the club’s financial position in a timely and consistent manner. The full accounts and report are available to download for DFCSG Owners from the document section of supporter’s YourClub accounts here: https://yourclub.darlingtonfc.co.uk/documents

We are currently expect to hold the Darlington 1883 Ltd AGM in early April at which the Board will be available for questions. In the meantime, any questions supporters have on the accounts can be emailed to chris.stockdale@darlingtonfc.org.

Summary

• Core revenue lines all increased on 2021/22
• Commercial revenue up by 15% on the previous year’s record level
• Overall revenue increased by 12% from £719,051 to £803,232
• Boost The Budget investment from fan-owners of £126,000
• Operating loss, which excludes Boost The Budget investment, supported by Boost The Budget and cash reserves

The numbers

Overall

Season 22/23 was our fourth under the management of Alun Armstrong. Playing spend increased by 21% versus the previous season as we finished in 10th place with 67 points.

The adjusted operating loss was in-line with the budget set ahead of the season. It is important to note that as Boost The Budget (£126,000) is recorded as an investment it does not affect the P&L number and if Boost The Budget was included as income would materially reduce the loss for the year.

Over the course of the year the Company received funds totalling £126,000 from its majority shareholder DFCSG from Boost The Budget. This continued investment from our fan-owners provided consistent cashflow across the period and helped bolster the club’s financial position.

Comparing our core revenue streams against the prior period we have grown Matchday, Commercial, Retail and Womens & Academy Teams revenues on a comparable basis.

Overall, the operating loss was funded by the continued investment from our supporter-owners via Boost The Budget and our cash reserves on our balance sheet.

Additional progress on the sustainability of the business is required to underpin the club’s financial position to allow us to continue to support our ambitions on the pitch. The Board are actively pursuing the long-term goal of a new stadium development which in the Board’s view is key to a truly sustainable future.

Balance Sheet

During the period, as planned, we utilised our cash reserves to fund the operating loss of the business. We concluded the year with a positive net cash position (after external debt) of £55,545.

Update on the current financial year

In the current financial year, overall revenues are in line with original budget whilst costs are now expected to be higher than initially planned due to increased football spend, including an increase to the playing budget. This spend is as expected with the mid-season Boost The Budget funding raised in January. The forecast loss will be supported by Boost The Budget investment and our cash reserves.