The Everton Football Club Company Limited. INCOME AND EXPENDITURE ACCOUNT For Period 7th May, 1950 to 5th May, 1951. EXPENDITURE. INCOME. 6th May, 1950. 5th May, 1951. 6th May, 1950. 5th May, 1951. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 23651 2 0 To Players' Wages and Benefits .... .... .... .... .... .... .... .... 30826 3 0 102196 13 0 By Gate Receipts: Gross .... 94398 2 1 1600 0 0 " Players' Transfer Fees .... .... .... .... .... .... .... .... 12635 10 0 Less: 713 18 3 " Medical Fees .... .... .... .... .... .... .... .... .... .... 640 5 10 15573 3 10 Gate Division to Visitors .... 9072 18 3 18694 2 11 " Match Expenses (including Travelling, Advertising, Printing and Gate Exps.) .... 15594 6 6 3203 13 8 League %, Subscriptions, etc 3505 2 7 2435 15 4 " Training Expenses and Wages .... .... .... .... .... .... .... .... 3130 14 8 7543 6 2 Entertainment Tax.... .... 7370 9 9 5107 14 5 " Ground Expenses and Wages .... .... .... .... .... .... .... .... 8395 15 2 26320 3 8 _____________ _______________ 19948 10 7 605 3 7 " National Insurance .... .... .... .... .... .... .... .... .... 622 19 3 75876 9 4 _______________ ______________ 74449 11 6 877 8 6 " Players' Requisites, Equipment, etc...... .... .... .... .... .... .... 1369 8 1 1634 8 5 " Sublets, Programme, etc. .... 1648 11 1 11350 4 5 " Rents, Rates, Taxes, Telephone, Lighting, Water, Insurance & Office Exps. .... .... 11529 16 5 1 7 6 " Share Transfer Fees .... 4 15 0 384 12 6 " Legal Costs and Accountancy .... .... .... .... .... .... .... 378 12 3 344 10 0 " Pension .... .... .... .... .... .... .... .... .... .... 326 10 0 275 10 3 " Bank Charges .... .... .... .... .... .... .... .... .... .... 619 19 3 " Balance: Excess of Expendi- _____________ ______________ ture over Income to 66040 2 2 Profit and Loss Account 9967 2 10 11472 3 1 " Balance: Excess of Income over Expenditure to Profit and Loss Account.... _ _ _____________ _______________ ______________ _______________ £77512 5 3 £86070 0 5 £77512 5 3 £86070 0 5 _____________ _______________ ______________ _______________ PROFIT AND LOSS ACCOUNT For Period 7th May, 1950 to 5th May, 1951. 6th May, 1950. 5th May, 1951. 6th May, 1950. 5th May, 1951. £ s. d. £ s. d. £ s. d. £ s. d. 1755 0 0 To Depreciation written off Stands, etc..... .... .... .... .... .... 1586 0 0 21853 9 9 By Balance: Surplus at 6th May, 1950, as per Certified Accounts .... .... .... 28325 16 9 80 6 8 " Provision for Dividend at 7½% per annum, less Tax, to 5th May, 1951 .... .... 80 6 8 835 10 7 " Income from Properties .... .... .... .... .... .... .... 632 13 11 4000 0 0 " Provision for Taxation.... .... .... .... .... .... .... .... — _ " Profit on Sale of Property .... .... .... .... .... .... .... 190 18 8 — " Excess of Expenditure over Income .... .... .... .... .... .... 9967 2 10 — " Income Tax Reserve not required .... .... .... .... .... .... 3600 0 0 28325 16 9 " Balance carried forward .... .... .... .... .... .... .... 21115 19 10 11472 3 1 " Excess of Income over Expenditure .... .... .... .... .... .... — _____________ ______________ ______________ _______________ £34161 3 5 £32749 9 4 £34161 3 5 £32749 9 4 _____________ ______________ ______________ _______________ BALANCE SHEET AS AT 5th MAY, 1951. CAPITAL AND LIABILITIES. PROPERTY AND ASSETS. 6th May, 1950. 5th May, 1951. 6th May, 1950. 5th May, 1951. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. CAPITAL AND RESERVES. FIXED ASSETS. Capital Nominal: Freehold Land, including 2500 0 0 2500 Shares of £1 each .... 2500 0 0 Property at cost as per last _____________ ______________ 38936 9 11 Balance Sheet .... .... 43411 9 11 Capital Issued: Additions, at cost during 2210 Shares issued and 4475 0 0 year .... .... .... .... 4403 2 0 allotted on which 15/- 43411 9 11 _______________ _____________ 47814 11 11 per Share has been Stands, Hoardings and Erec- 1657 10 0 called up and paid .... 1657 10 0 tions, etc. at Goodison Park, 290 Bonus Shares issued and 18225 0 0 Book value at 1st May, 1948. 18225 0 0 290 0 0 allotted to Old Mem- Less: Depreciation written off bers fully paid .... 290 0 0 3465 0 0 to date .... .... .... 4941 0 0 ______ 14760 0 0 _______________ _____________ 13284 0 0 1947 10 0 _______________ 2500 _______________ 1947 10 0 1349 11 6 Amplifying Equipment, at cost 1349 11 6 Less: Depreciation written off Reserves & Undistributed Profits. 249 11 6 to date .... .... .... 359 11 6 Reserve for Rehabilitation of 1100 0 0 ______________ ______________ 990 0 0 766 17 0 Practice Ground .... .... 766 17 0 59271 9 11 ______________ ______________ 62088 11 11 28325 16 9 Profit and Loss Account .... 21115 19 10 29092 13 9 ______________ _____________ 21882 16 10 31040 3 9 ______________ _____________ 23830 6 10 CURRENT ASSETS. CURRENT LIABILITIES. 2678 9 10 Sundry Debtors .... .... 1546 16 4 6191 19 5 Sundry Creditors .... .... 3551 8 3 10 5 0 Sundry Deposits .... .... 10 5 0 1543 12 0 Current Taxation .... .... 960 0 0 Midland Bank Ltd., Pro- 336 6 9 Unclaimed Dividends .... 351 6 1 155 3 9 gramme a/c..... .... .... Dividends for year to 5th Midland Bank Ltd., Dividend _ 80 6 8 May, 1951 .... .... .... 80 6 8 336 6 9 Account .... .... .... 351 6 1 Midland Bank, General a/c. 930 19 5 Cash in hand .... .... .... 19 4 3 (Secured by charge on 2180 0 0 War Damage Repairs .... .... 2847 18 2 8469 19 4 Property) 23988 3 3 6291 4 9 ______________ _____________ 4775 9 10 16622 4 2 ______________ ______________ 28931 4 3 DEFERRED LIABILITIES. 4343 6 0 Provision for Future Taxation 989 9 0 13557 0 9 Provision for Deferred Repairs 13113 1 8 17900 6 9 ______________ _______________ 14102 10 8 ______________ ____________ _____________ ______________ £65562 14 8 £66864 1 9 £65562 14 8 £66864 1 9 ______________ _____________ ______________ ________________ Signed on behalf of the Board, W. R. WILLIAMS} W. DICKINSON, Secretary. R. E. SEARLE } Directors. REPORT OF THE AUDITORS TO THE MEMBERS OF THE EVERTON FOOTBALL CLUB COMPANY LIMITED. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. In our opinion proper books of account have been kept by the Company so far as appears from our examination of these Books. We have examined the above Balance Sheet and annexed Profit and Loss Account, which are in agreement with the Books of Account. In our opinion and to the best of our information and according to the explanations given us, the said Account gives the information required by the Companies Act, 1948, in the manner so required, and the Balance Sheet gives a true and fair view of the state of the Company's affairs at the 5th May, 1951, and the Profit and Loss Account gives a true and fair view of the loss for the period ended on that date. 30 North John Street, Liverpool, 2. T. THEO. ROGERS, BOWLER & CO., 15th May, 1951. Chartered Accountants.