Financial results released for 2009/2010

Financial results for last season have just been published ahead of Saturday’s

 

Financial results for last season have just been published ahead of Saturday’s

10th annual general meeting. This will take place before the Notts County match at 12 noon in The Hive, Griffin Park.

In his statement accompanying the results, Bees United Chairman David Merritt notes that directors’ loans have transferred from Bees United to Brentford Football Club as a consequence of the partnership with Matthew Benham, which was formalised during the year to 31 May 2010. As a consequence, the profile of the Bees United balance sheet has changed.

At the year-end, Bees United was owed a total of £2,025,999 by Brentford Football Club. This was less than the £2,567,911 the Club had owed at the end of the 2008/2009 period. The Supporters’ Trust in turn owed £1,412,482 to third parties, which was also lower than the £2,109,341 it had owed at the end of the previous financial year.

The latest figures demonstrate that a total of £613,517 has been raised by Bees United from its members and general fundraising, and used to support the Club through loans.

David Merritt also highlights the significant increase in membership, which he says is great news for the health of the organisation. Membership at the year-end was up from 1,464 to 2,028. The rise has continued into the current period, lifting the total to 2,570 earlier this month.

This rise in membership numbers will have an impact on Bees United’s income in the current year, and will broadly offset stopping matchday collections in anticipation of formalising the partnership with Matthew Benham.

Members are urged to make every effort to attend the annual general meeting this Saturday, where questions on the annual accounts and other topics will be welcomed by the Bees United board. Meanwhile, David Merritt’s statement and the annual accounts can be found here.