Torquay United releases financial results for 2024/25
Club turnover increases but losses persist
Torquay United has published its financial results for the year ending 30th June 2025, marking the first complete fiscal year under the ownership of Bryn Consortium.
Despite operating under a Company Voluntary Arrangement (CVA) until April 2025, which provided a framework for repaying creditors while the club continued trading, the accounts reveal both progress and challenges.
The club reported an increase in turnover from £1.88 million to £2.26 million during the year, with gross profit soaring from £153,370 to £517,978. This indicates improved performance in core trading activities.
However, the club recorded a loss of £742,438 for the year, highlighting that expenses exceed income. Additionally, retained losses amounted to £3.17 million, pointing to an accumulated deficit from previous seasons.
The balance sheet as of 30th June 2025 shows cash holdings of £47,798 and £166,441 owed to the club, alongside total current assets of £221,742. In contrast, the club had £1.68 million due within a year and £557,107 due beyond that.
Net liabilities were reported as £1.91 million, showing liabilities outweigh assets and reflecting the ongoing financial challenges.
A notable mention is the continued financial support from Bryn Consortium. The club owed £661,313 to Big in Business Ltd, the consortium’s vehicle, which will soon be converted into equity to fortify the balance sheet.
While revenue generation has seen growth, sustained dependence on shareholder backing underlines the importance of enhancing attendances, commercial revenue, sponsorship, and hospitality to forge a stable future.
Torquay United remains committed to transparency and improving its financial health, with effort directed at progressing both on and off the pitch.
The full accounts are available for public view.