8/7/2019 EFC 1985 1986 Accounts

1/15

Tt-,eE'JertonFootball ClubCompany Limited

Annual ReportandStatement of Accountsat 31st May 1986

8/7/2019 EFC 1985 1986 Accounts

2/15

J

THE:EVERTONFOOTBALLClUnCOMPANY I_IMITED

NOTICE OF MEltrlNG

NOTICE IS HEREBY GIVEN that the one hundred &seventh Annual General Meeting of the Company willbe held at the offices of The Everton Footbal l ClubCompany Limited, Goodison Park, Liverpool L4 4EL, onThursday the 21st Day of August, 1986, at 7.00 p,rn.to receive and consider the Reportof the Directors, andthe Accounts for the Year ended 31st May, 1986, toelect Directors, to appoint Auditors for the ensuingyear,and to fix theirmmuneratlon, and to transact anyother business which may be transacted at the AnnualGeneral Meeting of the Company.

The Transfer Books of the Company will be closed until22nd August, 1986.

- By Order of the Board.J. Gf1EENWOOD, Secretary,Goodlson Park, Liverpool L44F.L.28th July, 1986

Admission on Presentation ofAnnual ReportNotice is also given that a Member of the Companyentitled to attend and vote at the above AnnualGeneralMeeting is entitled to appoint a proxy to attend andvote instead of him, and that the proxy need no t be amember of the Company.Proxies must be lodgedat the RegisteredOffice of theCompany, not less than 48 hours before the time of theMoeting.

DirectorsP. D.Carter, C.B.E., ChairmanT. H. W. Scott, Vice-ChairmanG. A. WattsA. W. WaterworthK. M. TamlinJ. Search, G.M.D. A. 8. Newton

Secretary and Registered OfficeJ. Greenwood,Goodison Park, Liverpool L4 4EL

Manage'(H. Kendall

BankersTrustee Savings Bank

AuditorsRogers, Bowler & Co.

3

8/7/2019 EFC 1985 1986 Accounts

3/15

THfEVERTONFOOTBALLCLUBCOMPANY LIMITED

CHAIRMAN'S REPOR1I have pleasure in submitting the Financial Reportand Accounts. I am pleased once again to reportano ther success fu l season fo r the Club.

Unfortunately, the Canon League Trophy e l : . . : d ~ d us atthe end of the season, but nevertheless, it was amemorable League performance by the team, for thesecond year in succession.We visited Wembley for the 3rd consecutive year

forthe F,A. Cup Final, but had to concede second bestto Liverpool.We did, however, win the Charity Shieldfor the second time and have qualified once again forthis prestigious event on 16th August.This was Howard Kendall's 5th year as Managerand he, plus all his staff, are to be congratulated onanother successful season.At the time of compilingmy report for last year, wehad just s igned Gary Lineker f rom Leicester and

approximately 12 months later , I have to report thathe has decided to pursue his football career with theBarcelona Football Club and to take advantage of allthe opportunities that this offers hrrn. We wereextremely anxious to retain Gary Lineker's services forEverton and whllct much speculative reporting wascarried out by the media over a prolonged period itwasonly after the WorldCup Cornpetition had finished thatGary made the decision to join Barcelona. I am surethat all fans and staffwill wish him continued successwith his new club.i am delighted to report that Adrian Heath hassigned a new 4 vear contract with the Club and I amsure that we wish him well in the coming season.Jam also pleased to announce that Peter Reid hass igned a new 2 year contract since returning from

Mexico.Pur.suing the Club's policy of continuing to

strengthen the ploying staff I we were ayain Involvedin considerable octivity in the transfermarket. Duringthe financial year we purchased Gary Lineker, NeilPomton,Warren Asplnall, Fred Barber, Mike Stowell,Darren Coyle and Peter Bil linge and in a turther effortto improve our squad of players have signed KevinLang1el/, Paul PoNer and Neil Adams durinO tile

4

present close season. Players who have been soldduring the financial year areAndy Gray I .JohnBailey,JanAtkins and RobWav.t ....shaw,The performance of our players during the seasonresulted in a further increase in their recognition forInternational Honours. Graeme Sharp was againselected for Scotland and England caps were awardedto Peter Reid, Trevor Steven, Gary Lineker, Paul

Bracewell and Gary Stevens. Al l the playersrepresent ing England and Scotland in Mexicoacquitted themselves extremely well and were acredit to the Club. Kevin Sheadv was again a regularmember of the Eire squad and Kevin Ratcliffecontinued as captainof \'\Iale5 together with Pat VanDenHauwe and Neville Southall. I am sure weal! wishNeville well in his fight for recovery after hisunfortunate ankle injury sustained in a friendly gameagainst Eire.PaulWilkinson and Bobby Mimms again playeo fo r ..

the England Under 21 Team and Warren Aspinall wasincluded in the ~ n 9 l a n d Under 18 Team.Howard Kendall was runner up in the Bell's Manager

of the Year Award, having won i t the previous vear.Gary Lil"lekerscooped the pool by winning both theProfessional Footballers Association and also theSportsWriters Awards as Plaver of the Year. He alsowon the Adidas Golden 800t Awards for finishing asleading goal scorer in the 1st Division and leadingscorer in the World Cup Finals.Onceagain, the Everton staffwho produce the Clubprogramme. were awarded The Programme of theYearAward. Ourwarmest congratulations to themall.The successof last seasonwas again reflected bothin attendances and associated revenue. Unfortunately,we did not I-ave the advantage of playing itl Europe,

where' am I'luite convinced the qual i ty of aUI teamwould have I .iade a considerable impact.Total attencances at Goodison Park were 879,u1 0compared wito 948,569 tho previous season. Theaverage LeclguL attendance was up from 31,983 to32,270 This W,\S at a time when the average FirstDivision ottendames were down by 7.4%.

8/7/2019 EFC 1985 1986 Accounts

4/15

Income from our main footbal ling act iv it ies was3,256,283 and produced a profit of 360,705before transfer fees. Donations from variousdevelopment funds and income from other activitiesproduced a profit of 448,564. However, the nettransferposition showed a lossof 714,075 andafterreducing the transfer fee reserve to 330,000, thetotal profit fo r the year was 265.194.Everton supporters were denied the interest ofEuropean games during the season, bu t the

introduction of the Super Cup provided someaddit ional interest and culminated in Everton andLiverpool qualifying for a 2 1 ..gged final, which will beplayed home and away (turing the early stages of theseason. Unfortunately, the footballing public weredeprived of T. V. exposure during the first half of theseason, which had a detrimental effect on gates,sponsorship and ground advertising. Far more imporlant, the public were unnble to watch thosepositivoaspects of ournational gam")whichultlmatelybring them to the football grounds to participate in theatmosphere of a live match.The Blues Family Club continues to increase and Iam pleased to announce for the coming season, the relocation of the seating area into the Upper Sullens

Road Stand, which will enable us to further developthe concept of a Club atmosphere for the members.The main entrance to the Stadium has beenmodernised and is now more in keeping with thestandard of one of the major clubs inthe English FirstDivision.Wehave alsointroduced anadditional facility, to becalled the Goodison Sui te, for 200 season ticketholders on the f irst f loor level of the Main Stand.

The success of the last tw o seasons has alsoenablod the Board togoaheadwith the long standingcommitment to extend the roof of tho Gwladys St.Stand over the terracing. This work will becompletedfar the commencement of the 1987/88 season.I woutd like to thank our sponsors, NEC, for theircontinued support. I am sure that a continuingrelationship will be beneficial to both parties.It gives me part icular pleasure In compi ling thisreport to look back onaseasonwhich produced manyhighlights and confirmed the fact that the Everton

Football Club can perform and succeed at the highestlevel in the most demanding footbal l competit ion inthe world.I wis h to acknowledge the continued suppo rt of myfellow Directors, officers and staff of the Club andmany other peoplewho gave willinglyof their time tohelp Everton.Our supporters, both at home and away, continuedto uphold the ~ o o d name of Everton and Iam sure weallunderstand that 110thing but impeccable behaviourwin convince the fans to return to watch live footballand the world authorities to agree to the re-admissionof the English clubs into Europe and worJdcompetitions.Finally, on looking back over lastseason, I think wecan all feel justly proud of the Club's achievementsand hope that in the coming season, HowardKendalland his staff will not only maintain the standard, butbe rightly rewarded by the winning of trophies.

PHILIPCARTER14th July, 1986

5

8/7/2019 EFC 1985 1986 Accounts

5/15

THEEVERTONFOOTBALLCLUBCOMPA I I LIMITED

CHAiRMAN'S REPORTI have pleasure in submitting the Financial Reportand Accounts. I am pleased once again to reportanother successful season fo r the Club.

Unfortunately, the Canon League Trophy eluded us atthe end of the season. bu t nevertheless, it was amemorable league performance bv the team, for thesecond year in succession.

\Ve visited Wembley fo r the 3rd consecutive yearforthe F.A. Cup Final, bu t had to concede second bestto Liverpool. We did, however, win the Charity Shieldfor the second time and have qualified once again fo rthis prestigious event on 16th August.

This was Howard Kendall's 5th year as Managerand he, plus all his staff, are to be congratulated onanother successful season.

At the time of compiling my ret.ortTorlast year, wehad just signed Gary Linoker from Leicester andapproximately 12 months later, I have to report thathe has decided to pursue his football career with th eBarcelona Football Club and to take advantage of allthe opportunltles that t hi s o ffe rs him. We wereextremely anxious to retain Gary Llnoker's services forEverton and whilst much speculative reporting wascarried out bv the media over a prolonged period it wasonly after theWorld CuPCompetition had finished thatGary made the decision to join Barcelona. I am surethat all fans and staff will wish him connnued successwith his new club.

I am delighted to report that Adrian Heath hassigned a new 4 year contract with the Club and I amsure that we wish him well in the coming season.I am also pleased to announce that Peter Reid hassignqd a new 2 year contract since returning from

Mexico.Pursuing the Club's policy of continuing to

strengthen the playing stoff, we were again involvedin considerable activity in the transfer market. Duringthe financial year we purchased Gary Lineker1 NeilPcinton, Warren Aspinall, Fred Barber, Mike Stowell,Darren Coyle and Peter Bltlinge and in a further effortto improve our squad of players have signed KevinLangley, Paul Power and Neil Adams during the

4

present close season. Players who have been soldd u r i n ~ the financial year are Andy Gray, John Bailey,lenAtkins and Rob Wakenshaw.The performance of our players during the seasonresul ted in a further increase in their recognition fo rInternational Honours. Graeme Sharp was agoinselected for Scotland and England capswere awardedto Peter Reid, Trevor Steven, Gary Uneker, PaulBracewell and Gary Stevens. Al l the playersrep resen ting England and Scotland in Mexicoacquitted themselves extremely well and were acredit to the Club. Kevin Sheedy was again a regular

member of the Eire squad and Kevin Ratcliffecontinued as captain of Wales togetherwith ra t VanDenHauwe and NevilleSouthall.l am sure we all wishNeville well in his fight fo r recovery after his ,unfortunate ankle injury sustained in a friendly gameagainst Eire.

Paul Wilkinson and BobbyMimms again played fo r ..the Englal1dUnder 21 Team and Warren Aspinallwasincluded in the England Under 18 Team.Howard Kendall was runner up inthe Bell'sManagerof the YearAward, having won it the previous year.Gary Linekerscooped the pool by winning both theProfessional Footballers Association and also the

Sports '.oVriters Awards as Player of the Year. He alsowon the Adidas Golden Boot Awards fo r finishing asleadirlg goal scorer in the 1st Div is ion and leadingscorer in theWorld Cup Finals.Once aguin, the Everton staff who produce the Clubprogramme, were awarded The Programme of theYearAward. Our warmest congr atutations to them all.The success of last season weagain reflectedbothin attendances and assoclated revenue. Unfortunately,we did not have the advantage of playing in F.urope,

where I ern qui te convinced the qualitv of rur teamwould havemade aconsiderable impact

Total attendances at Goodison Park were 879,610compared with 948,569 the prevlous season. 1 heaverage League attendance was up from 31,983 to32,270. This was at a time when the average FirstDivision attendances were down bv 7 . 4 ~ o .

8/7/2019 EFC 1985 1986 Accounts

6/15

Income f rom our main footbaJling activities was3,256,283 and produced a profit of 360,705before transfer fees. Donat ions f rom variousdevelopment funds and income from other activitiesproduced a profit of 448,564. However, the nettransfer position showed 3 Joss of [714.075 andafterreducing the transfer fee reserve to 330,000/ thototal profit fo r the year was 265, 194.Everton supporters were denied the interest ofEuropean games during the season, bu t the

introduction of the Super Cup provided someadditional interest and culminated in Everton andLiverpool qualifying for a 2 legged final, which will beplayed home and away during the early stages of theseason. Unfortunatelv, the football ing public weredeprived of T.V. exposure during the first half of theseason, which had a detrimental effect on gates,sponsorship and ground advertising. Far more important, the public were unable to watch thosepositive aspectsof our national game which ultimatelybring them to the football grounds to participate intheatmosphere of a l ive match,

The Blues Family Club continues to increase and Iam pleaced to announce forthe coming season, the relocation of the seating area into the Upper SullensRoad Stand, which will enable us to further developthe concept of a Club atmosphere for themerr.t ars,

The main entrance to the Stadium has beenmodernised and is now more in keeping with thestandard of one of the major clubs in the EnglishFirstDivislon.Wehave also introduced anadditional facility, to becalled the Goodlson Suite, fo r 200 season ticketholders on the f i rst f loor level of tho Main Stand.

The success of the last tw o seasons has alsoenabled the Board to go ahead with the long standingcommitment to extend the roof of the Gwladvs St.Stand over the terracing. ThisworkwWbe completedfor the commencement of the 1987/88 season.

I would like to thank our sponsors, NEC, fo r theircontinued support. I am sure that a continuingrelationship will be beneficial to both parties.It g ives me particular pleasure In compil ing thisreport to look back on aseason which producedmanyhighlights and confirmed the feet that the EvertonFootball Club can perform and succeed at the highestJevel in the most demanding football competition in

the world.I wish to acknowledge the continued supportofmy

fellow Directors, officers and staff of the Club andmanyotherpeople who gave willinglyof their time tohelp Everton.Our supporters, bothat home and away, continuedto uphold the good name of Everton and I am sure weall understand that nothing but impeccable behaviourwill convince the fans to return to watch live footballand the world authorities to agree to the re-admisslcn

of the English clubs into Europe and worldcompetitions,Finally, on looking back overlast season,I think wecan all feel justly proud of the Club's achievementsand hope that in the coming season, Howard Kendalland his staff will not onlymaintain the standard, butbe rightiy rewarded by the winning of trophies.

PHILIP CARTER14th July, 1986

5

8/7/2019 EFC 1985 1986 Accounts

7/15

THEEVERTONFOOTBALLClUBCOMPANY LIMITED

REPORT Of T t ~ ~ f.)dili:CTtlRSPrincipal activityThe principal activity of the Company continues to bethat of a Professional Football League Club.

DirectorsThe directors in office in the vearand their beneficialinterests in the issued ordinary share capital were asfollows:

Fixod assetsFull detai ls of the changes to the Fixed Assets areshown in the Notes to the Accounts.

In accordance with the Art ic les of AssoclatlonMessrs. P. D.Carter, T, H W.Scott and K. M.Tamlinretire by rotation and, being eligible, offer themselvesfor re-election. Nominations have been received onbohalf of Messrs. G. H. E. Birch and P. L. Parry.

AuditorsThe auditors, Messrs. Rogers, BOWler & Co., will beproposed for re-appointment in accordance withSection 384 of the Companies Ac t 1985.By order of the Board

Review of businessThe results of the period's trading are given on page7 of th e Accounts.The profit for the year is 265 t 19'1 atter netexpenditure of 714 t075 on players' transfers andreducing the transfer reserve from 500/000 to330,000. This represents a net charge of 544/075on transfer fees in the financiat year which we wereable to absorb fol loWin9 our continuing success inLeague andCup Competitions and in spite of the lossof income due to the ban on English Clubsparticipating in the UEFA competitions.Capital pro jects for further Improvements to thefacilities at Goodison Park totalling some 563,250are to be ca. ~ I ~ d out during the coming financial year.The Directors consider the state of the Company'saffairs at the year end to be sat is foctory.DividendThe Directors do not recommend the payment of adividend

Mr. P. D. Carter, C . 8 , ~ .M,l'. T. H. W. ScottMr. G. A. WattsMr. A. W. WaterworthMr. K. M. Taml inMr. J. Search, G.M.Mr. D. A. 8. Newton

1st June198575333a33

31st May1986f-86634

1133

6

P. D. CARTER,Chairman14th JuIV, 1986.

8/7/2019 EFC 1985 1986 Accounts

8/15

THEEVERTON FOOtBALL ct.uaCOMPANY LIMlrED

PROFIT Ar\ lD LOSS ACCOUttJTfor the year ended 31 st May 1986

Notes 1986 1985 IncomeGate recelots and income fromrelated footballing activities 3,256,283 3,718,288Trading and other income 896,169 975,0164,152,452 4,693,304

ExpenditureCost of goods for resale 492,648 630,548Staff costs 10 ' ,93 ' ,532 1,708,681Training, travel, match and other expenses 411,732 473,229Ground expenses and maintenance 175,673 133,787Utilities 249,157 200,897Depreciation 2 34,993 29,736Auditors' remuneration 5,000 5,000. Other operating expenses 186,906 201,0453,487,641 3,282,923- - ...- - -Balance before transfer fees 604,811 1,410,381Add: Transfer fees receivable 432,550 55,000Deduct: Transfer fees, etc., payable (1,146,625) (712,875)

Balance after transfer fees (49,264) 752,50tJAdd: Interest receivable 69,546 29,177Deduct: Interest payable 11 (7,178) (61,548)Profit on oldinnry activuic:lu before taxation 13,104 720,1 ...75Taxation re ordinary activities 12P,.ofit on erdlnarv activities after taxarlon , 3,104 720,135Add: Donations receivable 13 82,090 178,040Transfer from (1985: to ) Transfer Fees Reserve 9 170,000 (500,000)Profit transferred to reserves 2.65,194 338,175

7

8/7/2019 EFC 1985 1986 Accounts

9/15

THEEVERTON fOOTBALL CLUBCOMPANY LIMITED

Director

This is to cer t i fy tha t th i s i s atrue copy of the Balance Sheet.handed to Members 0::' the Companya t the Annual General Meetingheld on 21st August d ~ 9 8 6 ' .

\ ~ ~ ' ~ ' ~ ' - " - -

8/7/2019 EFC 1985 1986 Accounts

10/15

THEEVERTON f ( )OTBAlL CLUBCOMPANY Ltr\lllTED

STATEMENT OF THE SOUR.CE ,AND APPLICATION OF FUNDS10r the yeaR" ended 31 st May 1986

13,104 720,13534,993 29,73648,097 749,87182,090 118104014,075 2,40014,294 53,84330,000

188,556 924,154126,703 32,62371,785 24,970

198,488 57,593(9,932) 86FJ 56 1

482 1990)(5,222) (57,259)(111,121) 76,751(115,861) 18,502

(125,793) 885,063

(123,233) 885,095(2,560) (32J- - - - -E{125,793) 885,06..3

Source of FundsFunds generated from operations:Profi t on ordinaryactivities before taxationAdjustment for items not using funds ......

DepreciationFunds from other sources;Donations receivableSale of fixed assetsGrants from Tile Football GroundsImprovements TrustLoan ex breweryTotal funds from all sourcesApplication of FundsPurchase of fixed assetsRepayment of loans

Movement in Working CapitalDecrease/(increase} in stocksDecreose/(increase) in debtorsIncrease/(decrease) in creditorsIncrease in nat liquid fundsComprising fncreasesrtdecreasesl in : -Bank balancesCash in hand

1986L

1985

9

8/7/2019 EFC 1985 1986 Accounts

11/15

THEEVERTON FOOTBALL CLUBCOMPANY LIMITED

NOTES TO THE ACCOUNTSfor the year ended 31 st May 19861. A c c o u n t i n ~ Basis and PoliciosThese accounts have been prepared on the historical cost basis of accounting as modif ied to includevaluations of the Club's properties, and in accordance with accounting policies consistent with thoseadopted previously, and set out in the following notes where appropriate.2. Tangible Fixed Assets Freehold Plant andproperties equipment Vehicles Totet

c c (Cost or ValuationAt 1st June 1985 2,895,000 268/277 31,320 3,194,597Additions 42,282 58,946 25,475 126,703Grants (14/294) (14,294)Disposals (19,805) (19,805) ,rAt 31st May 1986 2,937,282 312,929 36,990 3,287,201Cost 42,282 312,929 36,990 392,201Valuation in April 1983 2,895,000 2,895,000 ..-----2,937,282 312,929 36,990 3,287,201-DepreciationAt 1st June 1985 204,541 12,606 2i7.1 147Provided during year 27,097 7,896 34;993On disposals 15,730) (5,730)At 31st May 1986 231,638 14,772 246,410Net book valueAt 31st May 1986 2,937/282 ~ ' I , '291 22,218 3,040,791__0._ ' -At 31st May 1985 2,895,000 63,736 18.714 2,977,450If the freehold properties had po t been revalued in 1983 they would have been included at the followingamounts on the basis previously appertaining: .

10

Co!.tA ~ g r e g a t e depreciationNet book Value

1986c925,849119,215806,634

15185883,567116,339

767,228

8/7/2019 EFC 1985 1986 Accounts

12/15

It IS tho Club's policy to m ai nt am tho va lu e and extend tho life of Its propertles by reguJar expenditurecharged to ravenue. and to revalue the propertios overv (our years and adjust the book values accordingly.Having regard to this, depreciation is no t provided on freehold properties as the directors are of the opinion,in the case of some properties, that their estimated residual value exceeds their book value, and in thecase of other properties, that tho sum involved would be imrnatertet, Dopreciation on other fixed assetsha s been calculated at 25% on the book value.

3. StocksStocks are valued at the lower of cost and net roallsab:e value and comprise the following.--

1986 1985 cRefreshments and souvenirs 24,442 24,424Maintenance stocks 3,500 4100027,942 28,424

1986 19854. Debtors e cTrade debtors 312,167 451,294Other debtors 94/963 [;8,045Prepayments and accrued income 130,729 23,298

537,859 532,6371986 19855. Creditors: amounts falling due within one year Trade creditors 406.865 464,744Social security and other taxes 197,660 196,597Other creditors 37,248 73,246

Accruals and deferred income 383,926 402,2331,025,699 1,136,820Bank loan (see note 6) 84,360 84,360Loans f rom brewery (see note 7) 3,900 900-------1. 113,959 1,222,080

1986 19856. Bank loan 'fa) Falling due within one voar: 84,360 84,360(b) FaIHng due after more tha-i one year:Repayable within f ive years 30u,829 3,,17,440Repayable after five years 37,774------- .305,829 375,214

Aggregate amounts 390,189 459.574___ . 4 1 " ' ~ " " _The bank loan is repavable, toqother with interest. in equal monthly instalments of 7,030, and is securedby a fbwcf charge on the Club's freehold properties at Goodison Park and Bnllo{jetd.

11

8/7/2019 EFC 1985 1986 Accounts

13/15

7. Loans from Brewerv(a) Fail ing due within one year(b) Fal ling due after more than one ~ / o o r :Repayable within five Y03rsHepevable after five years

Aggregate amounts

1986 1985 r3,900 90015,1300 3/60013,950 1,35029,550 4;950

33,450 5,850Tw o loans are included above, one being ropayable In half-yearly instalments of 450 until 1992 andbearing interest at 5 < } per annum t and the othe r being ropayable in hal f -vearlv instalments of : 1,500until 1996 and bearing interest at 6% per annum.8. Called Up Sharo CapitalAuthorised: 2,500 1 stock unitsAlloted, issued an d fUlly paid: 2,500 1 stock units

9. ReservesRevaluation reserveBalance at 1st June 1985Adjustments to surplus in earller year as a resultof receipts and payments arising in current yearBalance at 31 S May 1986

Transfer fees reserveBalance at , st June 1985Transferred from profit and loss account in respectof future expenditure authorised by the directorsTransferred to profit and loss accountBalance at 31st Ma y 1986

Profit and Loss AccountBalance at 1st June 1985Profit to r th e yearBalance at 31$1 May i e ~

1986e2,500

1986C2,120,883

2,120,883

500,000

19852,5002,500

19852/065,116

55,7672/120,883

1 0 . P a r ti c ul a r s of EmployeesThe average weekly number of crnplovees during the year was as fcl lows:-Playing, training and managementMaintenance and administrationCatering and sales

19864 02634

10 0

198538;153 588

8/7/2019 EFC 1985 1986 Accounts

14/15

rho aggregate payroll costs of the above persons were as fullows:Wages and salariesSocial security costsOther pension costs

198$1,598,055114,145219,332

1985c1.455,99155,260187,4301,931,532 1,708,681

..The number of employees whose emoluments excoeded 30,000 in the year, excluding pensioncontributions, was as fol lows:-Between 30,001 and 35,000:35,001 and 40,000:40,001 and 45,00045,001 and 50,00050,001 and 55,00065,001 and 60,00060,001 and 65,00065,001 and 70,00080,001 and 85,00085,001 and 90,000110,001 and 115,000

The dl.ectors received no emoluments from the company during the year.11.lnterest PayableOn bank loans and overdraftsOn other loans

1986321242111

17

19865,9971,1817,178

1.98515361111

19

198561,2223266 1,54812.TaxationThere is no charge 'to corporation tax for the year, due to relief for past losses.

In view of th e continuing use of the freehold properties no provision is considered necessary in respectof the potential tax liability which might arise in the event of the disposal of the properties at the amountsat which they are included in these accounts, and in the opinion of the directors it is impracticable andof no useful purpose to attempt to quantify it.

13. Denatlons ReceivedDonations receivable comprise amounts receivable from the various Everton ( ~ e v e l o p r n e n t assoclatlons.reduced by expenses relating thereto.14. Future Capital ExpenditureCapital expenditure contracted for but notprovided for in these accounts amounted to

Furtt,?1" capital expenditure authorised by thedirectors or. which orders had not been placedpri(lr to tho Balance sheet date amounted to

1986c263,250

300,000

1985Nil

17,000REPORT O THE AUDITORS TO THE MEMBERS OF THE EVERTON FOOTBALLCLUB COMPANY llMITEDWe have audited tho accounts set out on po,-'os 7 to 13 in accordance \ i / i ~ l approved auditmg standards.The accounts havo boon ptopalOd undor tho hrstorlce: cost conventlon as modifiod by the rovalumlon of cenain properties and on thel/asls of t h accounting policies se t out intho notes onpaqns 10 to 13. Tho accounting policy 01 tho company in respect ofdenrcclattonof proporties docs not comply with the Statoment of StandardAccounti,lg Prnctico No 12 Issuedh\' tho nrotesslcnai accountancv bodies.Inour opinion, the accounts glvo. on tho above bas.s, a true nnd fair VIQW of tho 8t.1l0 of tho compnny's affairs ot the 31st May 1986and 01its profIt arid source Dnd oppli::atlon of lur. rj1j for tho year cwdod on that dote, and comply with tho Compumcs Act 1985.ROGERS, BOWLER & CO., ChOftOfodAccountunts, bukonheod. 14th Jul'l 1986

13

8/7/2019 EFC 1985 1986 Accounts

15/15

THEEVERTONFOOTBAlLCLUBcoraPANY LIMITED

MINUTES OF THE 106th ANNUAL GENERAL MEETINGOFTHE EVERTON FOOTBALL CLUB CO. LTD., HELD AT GOODISON PARK, LIVERPOOLON THURSDAY, 15th AUGUST, 1985 AT 7.00 p.m.Present: Messrs. P. D. Carter (in the chair), T. H. W. Scott, G. A. Watts, K. M. Tamlin, J. Search,and D. A. B. Newton (Directors). Mr. J. Greenwood (Secretary), Mr. H. Kendall rfv1anager), andMr. P. B. Bowler (representing Rogers, Bowler& co.t. together with 133 Shareholders.Apologies were recorded from Messrs. A. W. Waterworth (Director), Mr. L. Bernicoff and Mrs. L. Seed.

NOTICECONVENING THE MEETINGIt was agreed that the Notice convening theMeeting should be taken as read.ADMISSION OF THE PRESSIt was agreed that members of the press should bepermitted to remain in attendance throughout themeeting.MINUTESIt was agreed that the Minutes of the 105th AnnualGeneral Meeting, as circulated, should be taken asread. Mrs. E. Jones proposed that the Minutes beapproved and signed as a correct record. Mr. K. B.Nolan seconded and the proposal was carrieduna ~ i m o u s l y .CHAIRMAN'S REPORTIt was agreedthat the Chairman's Report chould betaken as read, Mr. Carter referred to tile SUCC6':iS ofthe team in again winning the Charity Shield atWembley on August 10th and outlined additionalarrangements for crowd safety and comfort duringthe comingseason. Mr. D.Wheway Daviesexpressedcriticism of the Liverpool Daily Post for failing to give

any publicity in their North Wales edition to the recenttour of Canada, undertaken by the Club.DIRECTORS' REPORT AND ACCOUNTSIt was ugreed that the Directors' and Auditors'Reports, as circulated, should be taken as read.Mr. Watts addressed the meeting on the verysatisfactory state of the balance sheet following therecord breaking season.There were no questions and Mr. Vt/atts formallyproposed the adopt ion of the Report & Accounts.Mr. R.E.D. Edwards seconded arv l t ' .c proposal wascarried unanrrnouslv,

DIVIDENDMr. T. H. W. Scott proposed that no dividendshould be paid. Mr. G. W. D. Beattie seconded andthe proposal was carried unanlrnouslv.APPOINTMENT OF AUDITORSMr. K. M. Tamlln formally proposed that Messrs. Rogers, Bowler & Co., should be re-appointed asAuditors for the ensuing year and their remunerationshould be left fer the Directors to decide. Mr. G. \.Bailey seconded and the proposal was carriedunanimously. The Chairman thanked the Auditors fortheir assistance during the past year.ELECTIONOr-DIRECTORSMr. Carter reported that Messrs. J. Search andD. A. B. Newton were the retiring Directors. Theywere both eligible and offered themselves forre-election. The nominations received in respect ofMessrs. S. C. Masterson and P. L. Parry had beenwithdrawn.The meeting unanimously agreed to a singleresolution for the re-election of the two retiringDirectors fo r a further term of 3 years each.Thiswasproposed by Mr.P. D. Carter, seconded by Mr.H. S.Paskell and carried unanimously.Mr. Search expressed thanks to the meeting onbehalf of Mr. Newton and himself.

VOTE OFTHANKSThe meeting closed with a vote of thanks to theDirectors and Management proposed by Mr. P. LParry and seconded by Mr. A. G. Hirst.