We are pleased to provide a financial update for the year ended 30 June 2023 for our supporter-owners. Overall, Darlington FC maintains its resilient financial position and stable outlook.

Join us at our annual pre-season fans forum on Friday, July 21st 7pm, either online or in person at the Dolphin Centre, where there will be an opportunity to ask questions. David Johnston, Alun Armstrong, Jonathan Jowett & Jon Saddington will be in attendance.

As a fan-owned club, our commitment to maintaining transparency with our supporter-owners remains unwavering. Now that the 22/23 financial year has concluded, we are ready to provide a comprehensive summary update. The full accounts release plus AGM will take place in Q1 2024.

Summary

The financial year ending June 30th, 2023, witnessed a modest increase in turnover compared to the previous year. Notably, there were rises in several income categories, such as Gate & Matchday Income, Commercial & Sponsorship, and Retail & Merchandise Income. Our Football Fortune Income remained consistent with the levels seen in the previous year.

The financial support of our fan-owners throughout the year was instrumental to our stability. The Boost The Budget investment received in the period totalled £126,000.

Year-on-year, our costs also rose, with our playing spend increasing by 20% compared to the previous season. Other costs also experienced an upswing due to the prevalent inflationary environment.

As forecast, we registered an operating loss for the year, which was offset by the Boost The Budget investment and our existing cash reserves.

Despite incurring an operating loss this year, the club's financial position remains robust. Our current assets, encompassing inventory, receivables, and cash equivalents, exhibited a slight reduction compared to the previous year but continue to remain stable.

Outlook

Our dedication to improving the club's performance, both on and off the pitch, is unwavering. Our fan-owners' record-breaking Boost The Budget contribution has enabled us to provide Alun with the necessary resources to assemble a competitive squad for the upcoming season.

Our current base scenario forecasts a small cash-based loss for the coming financial year. The Board, having consulted with the DFCSG Board, is comfortable with this projection in light of our solid balance sheet and cash reserves. We are committed to diligently working throughout the year to increase revenues and control costs, aiming to better this forecast.

We remain optimistic about the future. Your continued support is invaluable and deeply appreciated.