New Accounts Posted

[Guest Slowmo]

Accounts for the year to 31/10/09 for Truro City Football Club Ltd were filed (late) on 4th September.

I am sure there are others who can read a balance sheet better than myself but shareholder funds are now minus £1,199,110 (minus £898,437 year ending 31/10/07) which suggests, to me at least, that a trading loss of just over £300,000 was incurred during the year.

Net worth is minus £1,206,000.

I will leave others to interpret these figures.

That said, one credit reference agency has suggested a £0 credit limit with a rating of 2 (on a scale of 0-100 with 100 being the most creditworthy).

Probably no need for alarm if the major benefactor maintains an enthusiasm to continue funding the club and continues to have the necessary resources.