This is a summary of the Mansfield Town accounts for the year ended 31st December 2021 which were approved at the club’s Annual General Meeting on Thursday 22nd December 2022. These accounts cover the second half of the covid affected 2020-2021 season when the Stags finished a disappointing 16th under Graham Coughlan and Nigel Clough after failing to win any of the first eleven games under Graham Coughlan. Mansfield did reach the 3rd Rd of the FA Cup under Nigel Clough knocking out Sunderland 1-0 at the Stadium of Light before losing 2-1 to Cheltenham Town in extra time in the 3rd Rd.
The accounts also cover the first half of 2021-2022 when the Stags
finished 3 points off automatic promotion in 7th with 77 points. We then beat Northampton Town in the League 2
Play Off Semi Finals to reach Wembley where we sadly lost to Port Vale. The
financial figures for the second half of that season will be in the 2022
accounts which will be laid before shareholders today.
The headlines are that the football club’s finances still remained
significantly affected by covid and the lockdown but the club’s losses had
reduced from £322,593 in 2020 to £45,774 in 2021.
PROFIT (LOSS)
2021 (£45,774)
2020 (£322,593)
2019 (£50,904)
2018 (£116,281)
2017 (£132,785) (6 months from 1st July)
2016-2017 £6,403
2015-2016 (£10,077)
TURNOVER (INCOME)
The club’s total income increased to £4,130,265 compared to £3,074,465
in 2020. It was £5,706,953 in 2019.
Match Day Income increased to £940,628 compared to £469,103 in 2020. It
was £1,268,368 in 2019. All the home games in the second half of the 2020-2021
season were played behind closed doors. The majority of income must have come
from season ticket sales for 2021-2022 and 16 home league and cup games for
that season.
Football and Media Income (which includes the EFL Distributions and
Premier League Solidarity Payments) increased from £1,556,496 to £1,719,138.
Commercial Income increased from £1,048,886 to £1,470,499. It was
£3,081,359 in 2019.
EXPENDITURE
Total Wages and Salaries including national insurance contributions and pension
costs increased from £3,143,956 to £3,279,040. It was £5,083,199 in 2019.
The average number of staff including directors was 48 compared to 26
in 2020.
Staff whose costs were recharged to group and connected companies were
198 compared to 203 in 2020.
Player Agent Fees increased from to £56,903 to £70,624. They were
£133,840 in 2019
Player medical costs fell from £92,712 to £46,830.
Management Charges increased from £36,050 to £48,066.
The rent paid for using Field Mill increased from £47,210 to £49,806.
Academy Funding increased from £30,000 to £40,000.
Energy Bills increased from £27,010 to £62,871. They were £66,324 in
2019.
Travel and Hotel Costs fell from £69,335 to £34,044.
Repairs and Maintenance increased from £88,146 to £164,570. It was
£362,209 in 2019.
Other expenses (2020 figures in brackets):
Legal and Professional £29,511 (£31,091)
Motor Expenses £36,504 (£18,693)
Trade Subscriptions £26,246 (£12,664)
Rates £9,881 (£7,220)
Telephone and Fax £6,763 (£6,981)
Water £11,144 (£6,704)
Bank Charges £8,557 (£5,685)
Cleaning £6,233 (£4,704)
Printing and Stationery £7 (£2,883)
Accountancy Fees £25,580 (£2,820)
Entertainment £4,602 (£625)
LOANS OWED TO ONE CALL AND OTHER GROUP COMPANIES
The loans owed to One Call and other group companies fell by around £800,000
from £4,523,361 in 2020 to £3,723,391.
The football club was owed £342,561 from companies under common control
and £31,203 from fellow group companies.
The football club made sales of £1,216,666 to fellow group companies.
Other creditors amounted to £761,791. This includes £688,017 owed to
directors and former directors.
RSCPBR (Ultimate Parent Company)
The ultimate parent company of Mansfield Town is now RSCPBR Limited which
operates a diverse range of businesses including the football club, a claims
handling company, vehicle credit hire, vehicle recovery and rescue services,
vehicle damage repair and solar energy.
The sole director of RSCPBR is John Radford and he is the sole
shareholder
MANSFIELD 1861 LIMITED (Immediate Parent Company)
RSCPBR Limited own all the 100 issued shares in Mansfield 1861 Limited
(formerly known as Amber 12 Limited). The directors of Mansfield 1861 Limited
are John Radford and Carolyn Radford.
Mansfield 1861 Limited own the majority shareholding in Mansfield Town
Football Club Limited.
A big thank you to John Radford and Carolyn Radford and the other
directors for their financial support of the football club during the difficult
economic times caused by Covid and the lockdown.
The AGM to approve the 2022 accounts will be held at Field Mill later
today at 1.00pm where shareholders will hopefully receive a copy of the full
accounts for 2022.
