The Everton Football Club Company Limited
INCOME AND EXPENDITURE ACCOUNT
For the Period 3rd May, 1959 to 7th May, 1960
EXPENDITURE INCOME
2nd May, 1959 7th May, 1960 2nd May, 1959 7th May, 1960
£ s. d. £ s. d. £ s. d. £ s. d.
27,033 7 6 To Players' Wages and Bonuses ... ... ... 31,358 5 0 100,638 4 5 By Gross Gate Receipts: League ... ... ... 113,442 5 4
6,905 1 6 " Players' Benefits ... ... ... ... 5,110 0 0 41,525 2 6 " Receipts from Cup Tie and Other Matches ... 14,535 5 3
35,350 0 0 " Players' Transfer Fees... ... ... ... 84,160 0 0 10,700 6 11 " Percentage from League Clubs ... ... ... 9,787 17 6
692 3 2 " Medical Fees ... ... ... ... ... 824 19 9 16,512 1 2 " Sales of Season Tickets ... ... ... 16,894 5 0
6,302 15 5 " Training Expenses ... ... ... ... 4,376 4 0 - " Cup Pool and 4% Refund ... ... ... 2,689 13 8
422 16 4 " Players' Requisites ... ... ... ... 649 15 6 -------------- -------------
13,273 12 2 " Travelling and Match Expenses... ... ... 11,240 18 1 169,375 15 0 157,349 6 9
5,954 5 7 " Scouting Expenses ... ... ... ... 3,751 7 6 4 15 0 " Share Transfer Fees ... ... ... ... 2 7 6
1,992 18 8 " Advertising, Printing and Stationery ... ... 1,724 15 3 2,029 5 5 " Sublets: Programmes, etc. ... ... ... 7,265 3 6
6,711 15 8 " Gate Expenses ... ... ... ... 6,277 3 7 16,712 7 6 " Excess of Expenditure over Income ... ... 49,504 8 0
20,998 10 7 " Gate Division to Visitors ... ... ... 15,049 7 9
5,057 0 2 " Gate Percentages to League and Association ... 1,595 9 7
13,921 19 1 " Associations and Visiting Clubs share of Cup Ties 3,982 9 6
16,024 7 0 " Ground Expenses and Maintenance ... ... 17,216 1 11
1,365 18 0 " National Insurance ... ... ... ... 1,384 7 8
917 19 2 " Staff Pension Scheme ... ... ... ... 1,198 10 5
328 8 0 " Rent ... ... ... ... ... ... 327 7 0
9,895 0 3 " Rates and Water ... ... ... ... 9,515 2 9
1,266 10 0 " Income Tax: Schedule "A" and "B" ... ... 1,153 15 0
2,119 13 0 " Lighting and Heating ... ... ... ... 2,311 17 2
847 12 3 " Telephone ... ... ... ... ... 546 8 7
1,846 10 3 " Insurance: General ... ... ... ... 1,165 17 3
5,223 1 8 " Office and Management Expenses.. ... ... 6,676 5 4
1,537 15 1 " Bank Charges ... ... ... ... ... 1,278 1 6
374 2 5 " {Legal Costs ... ... ... ... ... 682 5 8
{Accountancy ... ... ... ... ... 402 10 0
159 0 0 " Pensions ... ... ... ... ... 162 0 0
1,600 0 0 " I. C. Buchan re Loss of Office ... ... -
------------- -------------- ------------- --------------
£188,122 2 11 £214,121 5 9 £188,122 2 11 £214,121 5 9
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PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 7th MAY, 1960
2nd May, 1959 7th May, 1960 2nd May, 1959 7th May, 1960
£ s. d. £ s. d. £ s. d. £ s. d. £ s. d.
To Depreciation written off 56,009 5 10 By Balance surplus at 3rd May, 1959 ... ... 41,541 18 6
Floodlighting Installation 4,089 0 0 850 0 1 " Income from Properties ... ... ... 1,166 8 11
Soil-warming Installation 1,171 9 3 13 10 6 " Bank Interest Deposit Account... ... ... -
Property ... ... 1,980 0 0 - " Mortgage Interest Received ... ... ... 22 14 9
7,951 9 7 ---------- 7,240 9 3 - " Profit on Sales of Properties ... ... 1,159 17 0
" Provision for Dividend 10,100 0 0 " Estimated Tax Refund on Loss for year 3,000 0 0
97 7 6 To 7th May, 1960 at 5% Free of Tax ... 97 7 6 - " Balance carried forward ... ... ... 10,133 18 3
669 13 4 " Interest on Floodlighting: Gross ... ... 182 12 8
16,712 7 6 " Excess of Expenditure over Income ... ... 49,504 8 0
41,541 18 6 " Balance Carried Forward ... ... ... -
------------ ------------- ------------- ------------
£66,972 16 5 £57,204 17 5 £66,972 16 5 £57,204 17 5
============ ============= ============= =============
BALANCE SHEET AS AT 7th MAY, 1960
CAPITAL AND LIABILITIES PROPERTY AND ASSETS
2nd May, 1959 7th May, 1960 2nd May, 1959 7th May, 1960
£ s. d. £ s. d. £ s. d. £ s. d. £ s. d £ s. d.
Capital and Reserves
2,500 0 0 Capital: Nominal: 2,500 Shares of £1 each ... ... ... .. 2,500 0 0 FIXED ASSETS
============ Freehold Land: including property at Cost as per last Balance Sheet ... 57,993 19 5
Capital Issued Additions during year ... ... ... ... ... ... ... 9,825 0 0
2,210 Shares issued and alloted on which 15/- per Share has been called -------------
up and paid ... ... ... ... ... ... ... 1,657 10 0 67,818 19 5
290 Bonus Shares issued and allotted to old members 290 0 0 Less: Sales during year... ... ... ... ... ... ... 9,265 3 0
1,947 10 0 ----------- 1,947 10 0 -------------
Reserves and Undistributed Profits 58,553 16 5
41,541 18 6 Profit and Loss Appropriation Account ... ... ... ... ... ... ___ 54,033 15 9 Less: Amount written off.. ... ... ... ... ... ... 5,940 3 8
43,489 8 6 CURRENT LIABILITIES -------------
20,597 6 6 Trade and Sundry Creditors ... ... ... ... ... 21,662 4 9 52,613 12 9
41,437 4 2 Bank Advances and Loans (secured by mortgages on Properties) ... 88,895 3 8 Stands, Hoardings and Erections
133 1 5 Unclaimed Dividends ... ... ... ... ... ... 163 19 3 at Goodison Park: Book Value at 1/5/48 ... ... 18,225 0 0
3,017 14 6 Current Taxation ... ... ... ... ... ... - Less: Depreciation written off ... ... ... ... 10,381 0 0
97 7 6 Dividend for year to 7/5/60 ... ... ... ... ... 97 7 6 7,844 0 0 ------------ 7,844 0 0
------------- 110,818 15 2 Floodlighting Installation at Cost ... ... ... 46,022 9 1
Less: Amount written off ... ... ... ... 13,331 9 1
36,780 0 0 ------------ 32,691 0 0
Soil-warming Installation at Cost ... ... ... 8,200 4 9
Less: Amount written off ... ... ... ... 2,342 18 6
7,028 15 6 ------------ 5,857 6 3
------------ ------------
105,686 11 3 99,005 19 0
CURRENT ASSETS
2,772 0 0 Sundry Debtors ... ... ... ... ... 3,287 8 1
8 0 0 Sundry Deposits ... ... ... ... ... 8 0 0
133 1 5 Midland Bank: Dividend Account ... ... ... 163 19 3
172 9 11 Cash in Hand ... ... ... ... ... ... 167 0 7
------------ 3,626 7 11
- Profit and Loss Appropriation Account ... ... ... ... ... 10,133 18 3
------------ ------------- --------------- ---------------
£108,772 2 7 £112,766 5 2 £108,772 2 7 £112,766 5 2
============ ============= ============== ===============
Signed on behalf of the Board,
F. MICKLESFIELD }
} Directors
E. HOLLAND HUGHES }
W. DICKINSON, Secretary.
REPORT OF THE AUDITORS TO THE MEMBERS OF 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 purpose of our Audit. In our opinion proper Books of Account have been kept by the Company so far as appears from
our examination of those 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 Accounts give 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 7th May, 1960, and the Profit and Loss Account
gives a true and fair view of the Loss for the year ended on that date.
Signed ROGERS, BOWLER, RUSHWORTH SMITH & CO.
18th May, 1960 Chartered Accountants, Liverpool 2.
