Port Vale announce £3.4m losses in latest company accounts
Port Vale FC have filed their company accounts for the twelve months up to June 2023 which show the club made a near £3.4m loss during that period.
The accounts can be viewed on the Companies House website and the headline figures are that the total losses for the year (ending June 2023) were £3,396,024 and the club’s overall debt now stands at £7,352,287.
Club loans to the owners and/or other parties has gone up £2,899,240 to £8,451,296, while loans and other bank borrowing has increased to £121,099.
During 2023, the club also increased the number of staff who were employed from 246 to 319.
The actual accounts can be viewed here (select the “Total exemption full accounts made up to 30 June 2023” option)
Note: the feature writer is not an accountant nor a financial expert. Any mistakes are unintentional and if any are spotted please let the writer know via the comments section at the bottom of the page.
Stephen Osborne
12th April 2024 @ 10:03 am
The link to the accounts doesn’t work.
Rob Fielding
12th April 2024 @ 10:07 am
Link now corrected – thanks!
Paul Ash
12th April 2024 @ 11:28 am
Record shirt sales , sold out hospitality, increased gate receipts and no bloody players and they lose money !! What a s**t show
David Brown
12th April 2024 @ 1:57 pm
Interesting news, and serious losses for a League 1 club. Surprising there were 319 employees in the reporting period, although not verifying the breakdown of full-time, part-time, or casual staff. How many League 1 clubs employ 300+ people ? With falling attendances, a competitive playing squad and academy to manage, and a big stadium to maintain, the club will surely look at new ways to generate income. Fortunately the academy is developing impressive young players who ultimately could generate a significant income stream. Managed well, the very best talent could potentially raise millions.
Vale fan
12th April 2024 @ 4:06 pm
Good job they did not employ a DOF just think of the the wages, I think there is more to come out from Burslem.
David Walklate
12th April 2024 @ 7:25 pm
I am stunned at over 300 staff. It would be an interesting comparison to other similar sized clubs
Ian Buckley
12th April 2024 @ 7:47 pm
Hi Rob, you need to look at the profit and loss account rather than the balance sheet to find out Port Vale FC Ltd’s financial performance. However, the P&L isn’t declared because of the exemption. The balance sheet shows the difference between how much Port Vale owns in assets offset against how much is owed in liabilities. This isn’t profit/loss.
Wayne Shepherd
12th April 2024 @ 11:36 pm
How can there be such a loss? Players have been free agents?
Why would you want to sell youth players, when players are needed.
Total shambles.
The club pricing has gone up, and attendance dropping? How do you work that out?
Who is running port vale.
If port vale is sold, the owners keep the debt? I think it’s wrong that a club has the debt, if someone has a business and go in debt, they are liable. Business name or not.
Now it shows what a huge mess, how can you let a club sink in debt like that, and not even reach out to the fans.
I have not seen any players brought for any high price for a long time, only players sold.
Imagine all that money in debt spent on the stadium, you could of built a new stadium with 8 million?
John Horton
13th April 2024 @ 8:29 am
How on earth is there a requirement of 300+ employees at a league one club!?
Peter Brown
13th April 2024 @ 12:55 pm
Even though the Profit and Loss Account isn’t shown,the Balance Sheet at June 2022 reports net liabilities of £3.9m and that had increased to £7.3m at June 2023 which means that we made a loss of £3.4m in the 12 months
Christopher Lawton
13th April 2024 @ 5:58 pm
Explains why they not fixed the toilets how much will we get selling the score board
Dave Smith
13th April 2024 @ 9:21 pm
Love the comments… Idiots who couldn’t do no better them selves… Vale fan but can’t stand the paper fans who were bouncing up and down at Wembley few years back … Just plain thick
RON
15th April 2024 @ 10:10 am
Don’t understand finance lots of factors are involved and it is easy to form opinions the only thing I wonder is would things be so bad if Colin Garlick was still there
Ian Mountford
15th April 2024 @ 8:24 pm
Vale’s attendances have been as good or better than at any time during the last 30years, the club shop is booming, and the corporate side must be as good if not better than the majority in league one. How on earth do Cheltenham, Burton, Fleetwood and Exeter plus a number of others survive? Redundancy payments must count for a fair proportion of these losses and did the club finance the Robbie Williams concert? The club is loosing almost double what we were under Norman Smurthwaite when the club was being forced to survive on gate receipts alone, and on half the attendances that we get now. As normal the supporters are left in the dark on how or why these losses have come about, so much for a new beginning and a transparent ownership.