Source: FOOTYMAD
'HMRC's letter included a threat to issue a Winding Up Petition'
Southend United have issued an official statement giving their side of the story regarding their latest round with HM Revenue & Custom, after the facts and figures from 2009/10 were handed out a few days ago. Year End July 2010:Total Turnover: £4,702,031 (Down from £5,303,541 in 2009)Total Loss: £1,149,534 (Down from £2,039,437 in 2009)Current Liabilities: £8,363,794 (Up from £7,367,951 in 2009)Gate Receipts: £744,042(Down from £1,163,058 in 2009)Season Tickets: £947,660 (Down from £1,045,374 in 2009)Bars & Catering: £90,215 (Down from £334,658 in 2009)Player Trading: £864,750 (Up from £625,000 in 2009)Total No.of Staff: 106 (Up from 103 in 2009)Staff Costs: £3,377,787 (Down from £3,974,878 in 2009)Amount owed to Parent Undertaking (SEL): £3,147,042 (Up from £639,012 in 2009)Gary Lockett issued a loan of £236,250 to SUFC. Most of which is still outstanding.Same situation for Frank Van Wezel (£160,000)Mezcal Investments (Own 50% of SEL) still owed £1,000,000.Martin Dawn take a £60,000 "Management charge" again.
