ANNUAL REPORT & ACCOUNTS. 201 Forewords Chairman 3 Chief Executive Officer 5 Director of Football 7 Year Review 9 Accounts Directors and Advisers 51 Strategic Report 53 Directors’ Report 59 Independent Auditor’s Report 61 Consolidated Profit and Loss Account 63 Consolidated Balance Sheet 64 Company Balance Sheet 65 Consolidated and Company Statement of Changes in Equity 66 Consolidated Cash Flow Statement 67 Notes to the Accounts 68 Note The Foreword section (Pages 3-8) and the Year Review section (Pages 9-50) do not form part of the statutory financial statements. Everton Football Club Chairman Pride in our Blue Family Willie Kirk’s side has enjoyed a tremendous start to their 2020/21 WSL I’ve said it before and I’ll say it again, we are blessed at Everton to have campaign and were so unlucky to just come up short at the 2020 FA the best supporters in the league…if not in the world. And this last year Cup Final at Wembley. BILL KENWRIGHT has proved it more than ever. While many other clubs and individuals Congratulations to Willie and his team for their achievements so far - have stepped in to put their weight behind the response to COVID-19, and thank you to Denise as Chair of the Women’s Board alongside Sasha few, if any, can match the level of support provided by our Everton Family. Ryazantsev as Managing Director and Sarvar Ismailov as Commercial Within hours of closing our sites we had our community teams out and Sporting Director for what they have done to enable that progress. on the streets delivering emergency food parcels and providing crisis There is so much to provide us cause for optimism as we look to 2021, support. We had members of our Fan Centre – who would usually be including the changes that have been put in place in our Academy to helping supporters with ticket purchases – making outbound calls to further embed the One Club ethos which is so important to us. check-in on the elderly and vulnerable in our community. And we had With David Unsworth now undertaking an expanded role as Academy hundreds and hundreds of supporters phoning and emailing us asking Director and Under-23 manager, I am sure the development of our whether they could donate time or money to help those who needed it future stars will continue apace. That he is being supported by Leighton more than they did. So touching…so classy…so Everton. Carlo, Davide, and Duncan deserve credit for what they achieved during a very challenging few months - and for giving us reasons to be is tremendous. I was so pleased that he took up the role of professional Alongside Carlo and our players, I was privileged to make calls to optimistic for this season and the seasons ahead. development coach and I know he will be a huge success. Could you supporters throughout that first lockdown and was inspired by the imagine Everton without Leighton Baines!? selflessness of those who I spoke with. Many of them were in poor Carlo also deserves great credit for the role he played in re-shaping our health or facing financial challenges, but every one of them was more squad during the summer. We knew it was going to be an important Thank you, Farhad concerned about others than they were with their own situation. And, window for us as we needed to bring in some key players while also In such a challenging year, particularly in financial terms, we should be of course, they were all missing their visits to their beloved Goodison. reducing the size of our first-team squad. Marcel was of course highly hugely thankful to have such a committed owner in Farhad. Those calls filled me with pride and showed me once again just how influential in this, and I did my bit. wonderful and generous our supporters are. We thank Morgan, Maarten, Oumar, Sandro, Cuco, Kieran, Fraser, And to my friends at the Supporters’ Club I spoke to - who not only Luke and Djibril for their service over the years and wish them well for donated refunds but also the kitty that they had saved up for the the future. cancelled away trip to Sheffield United - you have my complete and We were all delighted with the start made by our summer arrivals utter respect and thanks - The People’s Club personified! James Rodriguez, Allan and Abdoulaye Doucoure. They immediately By the end of October, the Community team, enabled by donations from developed an understanding and played with great power - and that The toughest of years touch of flair - Evertonians love. Our early season form was tremendous Naturally, each year my foreword is filled with reflection. Reflections of our fans, had supported more than 22,000 families and individuals across our city region. And that work is ongoing as the challenges and exciting. I honestly felt like doing cartwheels down the M25 after the highs and lows of our teams over the last 12-months, reflections and watching our opening day win at Spurs! And, as we eased into the last memories of those we’ve sadly lost and reflections that, I hope, give us posed by the pandemic continue. Thousands of lives have already been changed and many no doubt saved through the help of supporters. eight of the Carabao Cup, our thoughts started turning to the prospect reason to be optimistic for the year ahead. of silverware… and, of course, we were top of the league as we went into And this year, all these emotions have been there again – but more Thank you, Duncan the first international break of the season… intense and more profound than at any other time I can remember. I wrote my review last year just before we parted company with Marco The Spirit of the Blues We all know what a challenging 12-months this has been for so many Silva. We were all desperate for Marco to succeed and there were several October saw a significant round of international fixtures as in our country and our community. Everyone has been affected by the times under his leadership that we thought he was finding the right ‘DCL’ became England’s number 9 and scored on his debut and coronavirus in some form or other and Liverpool has been one of the formula. Ultimately, the results and run of form we were in meant we Richarlison was also doing what he does best, leading the line with most affected cities as we emerge from another national lockdown. had to make a change. We all wished Marco good-luck and hope he has a successful career ahead of him. energy – and scoring - for Brazil. Evertonians were rightfully full of At times like this we need hope, courage, and strong leadership - so it’s pride and optimism. As he has done every single year, he has provided finance to support the comforting for me, as I am sure it is for you too, that we have all of this With less than 48 hours before our game against Chelsea we needed a My favourite image of the season so far has been our boys warming manager’s squad improvements. Also, of course, he continues to be fully in abundance at Everton. plan. Actually, we needed a plan, and we needed a hero. And boy did we supportive to our new stadium project. get both!!! The big fella!! up with enormous smiles on their faces set to the theme of Spirit of I could not be more grateful for the exemplary leadership shown by the Blues - as just about every other image and video clip was during We remain tremendously grateful for how much he has put into the Denise and her senior team since March. Not only just for Everton, but Duncan threw himself into the role of caretaker manager with a passion October. Those video clips were great fun and a great sign of the Club, not just in financial terms but also in terms of commitment as she became one of the most admired CEOs in the Premier League as and determination that thrilled us all. But it wasn’t just about Duncan’s happiness and togetherness of Evertonians. Forced apart by Covid and passion. she campaigned both for Everton and for football. passion, he changed our tactics and his changes delivered fantastic restrictions but brought together virtually through hilarious online results against tough opposition as we went undefeated to Chelsea, Back soon…and back stronger We were swift and efficient in closing our sites and equally efficient banter and a classic Everton tune! Manchester United, Arsenal and Leicester (in normal time at least). You don’t need me to tell you once again how tough this last year – and most importantly careful and safe - in re-opening them to get Thank you to everyone who helped get that classic Everton track to has been… but I know we will get through this. The strength and the team back training in the Spring. The effort and attention to Thank you, Duncan, for doing such a brilliant job last December and for number one in the iTunes chart and put huge smiles on countless faces determination that runs through all aspects of our Club will ensure we do. detail required to keep our sites Covid-secure for our players and our everything you have done to support our new manager, Carlo Ancelotti. right across the planet. And particular thanks to Matt ‘FinKitch’ who got colleagues and to host matches safely shouldn’t be underestimated.