Annual Report 2004

Annual Report & Accounts 04 3 13 Directors and Consolidated Advisors Profit and Loss Account 4 14 Notice Historical of the AGM Cost Profits and Losses 5 15 Chairman’s Group Statement Balance Sheet 7 16 Financial Company Review Balance Sheet 8 17 Youth Consolidated Academy Cash Flow Statement 9 18 Communications Notes to the Accounts 10 30 Football in the Results and Community Attendances 2003-2004 11 31 The Directors’ Final League Placings Report 2003-2004 P eople’s Fixtures 2004-2005 Club 12 32 Report of the Honours Auditors List Directors and A dvisors 3 Directors W Kenwright CBE (Chairman) P R Gregg J V Woods K Wyness Chief Executive K Wyness Company Secretary M Cheston Registered Office Goodison Park Liverpool, L4 4EL Auditors Deloitte & Touche LLP Liverpool Bankers Barclays Bank plc Liverpool Registrars Independent Registrars Group Ltd Balfour House 390-398 High Road Ilford Essex, IG1 1NQ Notice 4 of the AGM Notice is hereby given that the one hundred and twenty fifth Annual General Meeting of The Everton Football Club Company Limited (The Company) will be held in the Alex Young Lounge, Goodison Park, Liverpool, L4 4EL on the 7th December 2004 at 7pm for the purpose of considering the following ordinary business. 1. To receive the Directors’ Report and Financial Statements for the year ended 31st May 2004. 2. To re-appoint Deloitte & Touche LLP as Auditors to the Company and to authorise the Directors to fix their remuneration. 3. To re-elect Director - in accordance with the provisions of article 18.2, W. Kenwright CBE retires by rotation and being eligible offers himself for re-election. A nomination has also been received on behalf of Professor T. Cannon. 4. To elect Director - K. Wyness, having been co-opted to the board on the 13th September 2004, be re-appointed to the board. 5. To transact any other business which may be transacted at the Annual General Meeting of the Company. By order of the Board M CHESTON Company Secretary Goodison Park Liverpool L4 4EL Date: 5th November 2004 NOTES A member entitled to attend and vote at the above meeting may appoint one or more proxies to attend, and on a poll, to vote in his/her place. A proxy need not be a member of the Company. To be valid, a duly executed instrument of proxy must be lodged at the Registered Office of the Company at least 48 hours before the time appointed for holding the meeting. The stock transfer books of the Company will be closed until 8th December 2004. INFORMATION TO SHAREHOLDERS Shares in Everton Football Club Co Ltd are “off-market”. If you wish to buy or sell shares in the Club you should, in the first instance, contact your own stockbroker. If they decline to act “off-market” you can then deal in Everton Football Club Co Ltd shares through Blankstone Sington Limited, 91 Duke Street, Liverpool L1 5AA. Telephone no. 0151 707 1707, contact name Neil S Blankstone, who have indicated they will be happy to deal with the transfer of Everton Football Club Co Limited shares “off-market”. If you require any information in connection with share matters then in the first instance please contact our Registrar, Independent Registrars Group Ltd, Balfour House, 390-398 High Road, Ilford, Essex 1G1 1NQ. Our Registrars or the stockbroker shown above will be able to advise any shareholder of the price at which Everton shares are being traded. 5 Chairman’s Statement It would be remiss of me to open any analysis of the year just passed I have always believed that everyone at a football club must accept a measure without underscoring the sense of honour I feel at being installed as of the blame when things go wrong, so I hereby offer my personal apologies our great Club’s Chairman. For a lad in the boys’ pen whose only real for whatever shortcomings of my own that might have added to our ambition was to share the exalted position of standing next to his unproductive season. I question myself daily, as I believe should anyone in a cousin in the ground, it is an extraordinary feeling, and I can only responsible position, and can only once again pledge to you my commitment promise you that I’ll continue to give everything I can to do my bit to to turning things round. help restore Everton Football Club to its rightful place at the vanguard of first English and then European football. As ever, the playing staff was subjected to much change. We welcomed Nigel Martyn, Kevin Kilbane and James McFadden during the last campaign and Although I never actively sought high office inside Goodison Park, I Marcus Bent and Tim Cahill at the start of the summer. Amongst those who left was even prouder to succeed Sir Philip Carter – a giant of a figure in the Club were Mark Pembridge, David Unsworth, Scott Gemmill, Paul Gerrard, footballing terms, an Evertonian to the core, and, from a personal Steve Simonsen, Niclas Alexandersson, and more recently Tobias Linderoth, perspective, a very hard act to follow! Tomasz Radzinski and Wayne Rooney. They moved on with our grateful thanks and our best wishes. Sir Philip of course remains at the Club as our Life President, and I’m happy to say that alongside him, as Vice-President, is Keith Tamlin, The level of support enjoyed by our great Club never surprises, but constantly who also served the Club wonderfully in his decades as a Director. thrills me. Our average League attendance last season was 38,837, a truly magnificent figure built upon the bedrock of record season ticket sales Like everyone else connected with the Club, I was happy to see the of 28,000. back of the last campaign. After finishing at 7th place the previous season expectation levels were obviously high – and our final League On behalf of you all, may I also express my appreciation to our matchday staff placing at 17th, just above the three relegation berths, was, to say the and to members of the various emergency services who continue to ensure very least, hugely disappointing. However, I believe I know the make the safety and comfort of all those who visit Goodison Park. up of our manager, David Moyes, as well as most at the Club, and I’ve always thought that if anyone can draw inspiration from adversity, Our thanks go out to each and every member of the Everton staff – be they then it would be him. He has, and he will continue to do so. That is the full-time or part-time – who performed their respective duties with enthusiasm measure of the man that I have worked alongside for the last two and diligence throughout what was, at times, a difficult year. seasons. I know that I don’t have to tell you how fortunate we are to have a manager like David – focused, dedicated, loyal and utterly May I also place on record my grateful thanks to the Club’s bankers, Barclays plc, professional. He deserves all the success he will obviously achieve in and to our various sponsors, all of whom have provided professional support his chosen profession and he enjoys the total unswerving support of throughout the year. the Club’s Board of Directors. Chairman’s 6 Statement cont Much has happened since the end of the last financial year in May and it would, I feel, be wrong of me not to make mention of several significant and relevant events. In early June, our Chief Executive Officer (“CEO”), Michael Dunford, left the Club after almost a decade of dedicated and laudable service. Michael’s enthusiasm both for his daily duties and for Everton Football Club never once wavered and I feel certain you will join with me in wishing him every success in the future. A turbulent summer of much change and much debate ended with the appointment of Keith Wyness as CEO. A highly respected figure in Scottish football where he had helped transform the fortunes of Aberdeen, Keith moved south to accept the challenge of overseeing our long-anticipated renaissance; we all wish him well. Having watched his growth through our junior ranks, to his magnificent performances during the Euro 2004 Championships, it was with the heaviest of hearts that I was forced to oversee the sale of Wayne Rooney to Manchester United. No one wanted Wayne to go, but once it became clear that Wayne himself was desperate to leave Everton, David and myself had no option but to accept the inevitable and then fight tooth and nail for the very best deal we could get. This I believe we did. I know that our recently departed Chairman would like to thank his fellow directors and the Club’s heads of department for their support during what proved to be a complex, challenging and difficult year. Together with Keith Wyness your Board of Directors will continue their vigilance in controlling costs and improving revenue streams. Sound and thoughtful financial planning is, of course, vital but, as always, the Board will remain mindful that a successful team, supported by a successful business operation, is our priority. Financial Review 7 Turnover this year has fallen by 5% to £44.3m (2003 : £46.8m), a disappointing result since this bucks the previous trend of consistent year on year growth. This is largely due to the fall in broadcasting income received in the period of £4.4m, in turn due to the final league placing of 17th (compared to 7th in the 02/03 season) and a reduction in the number of live television appearances.

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