Queens Make £207,740 Loss

Last updated : 22 January 2008 By Queens MAD

According to the Report of the Directors and Financial Statements issued by Queen of the South Football Club for year ended 31st May 2007 a loss was made of £207,740 compared to £333,425 for the year ended 2006.

There was however an increase in turnover with figures for 2007 showing £773,858 compared with £524,954 for the previous year.

Other selected items of interest:

1. Rent from Tesco £62,000
2. As at 31st May the club owed KM Houliston £15,000 and Norman Blount £199,270
3. The Floodlighting at Palmerston was upgraded at a cost of £40,000 but this sum is not included in the 2007 accounts

There will be an Annual General Meeting in the Nith Hotel on the 19th February at 1930 for the following purposes.

1. To receive and adopt the financial statements of the company for the year ended 31st May 2007 together with the reports of the directors and accountants thereon.
2. To re-appoint as a director David Rae
3. To re-appoint as a director G. Harkness
4. To re-appoint as a director Colin Rutherford
5. To re-appoint the Auditors and to authorise to fix remuneration
6. To transact any other business of the company.