NET assets for the holding company responsible for Aston Villa Football Club have increased by more than £25m, latest accounts show.
Aston Villa Ltd has reported its net assets for the year ended May 31, 2010 as £187,349,514, up by more than 15% on the £162,330,708 figure reported for the previous year and the result of increased share capital during the year.
The assets comprise all property owned by the club, plus the players and other miscellaneous items.
Aston Villa Ltd describes its principal role as “an intermediate holding company and property investment company”. Its subsidiaries include Aston Villa Football Club Ltd – the commercial and retail operation; Aston Villa FC Ltd – the professional football club; Aston Villa Indoor Cricket Centres Ltd – operator of the indoor sports facility; and the Villan Radio Ltd – the club’s digital radio station.
Turnover for the holding company amounted to £950,129, up from £938,253 in 2009. Nevertheless, the firm recorded an operating loss for the year before tax of £112,500, which was less than the £135,000 of the prior year.
Profit amounted to £18,806, down from £33,767 in 2009. The money has been added to reserves.
Debtors to the club total £151,493,430, while the club owed £4,633,571 to creditors at the end of the period.
One factor impacting the figures was a fall in average attendances from the previous season from 39,812 to 38,580.
The four directors of the company – chairman Randy Lerner, finance director Robin Russell, chief executive Paul Faulkner and non-executive director General Charles C Krulak – have not recommended a final dividend.
The club benefited from a settled season, which saw it finish in sixth place in the Premier League, however, figures for the current season will make for interesting reading following a year of upheaval at Villa Park, which has seen the departure of former manager Martin O’Neill just days before the start of the current season and a slump in form which saw the team at risk of being dragged into a relegation battle.
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