Everton Football Club Company Limited Annual Report and Accounts 2007 Contents Directors and Advisors
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EVERTON FOOTBALL CLUB COMPANY LIMITED ANNUAL REPORT AND ACCOUNTS 2007 CONTENTS DIRECTORS AND ADVISORS Directors and Advisors 03 Directors Notice of the AGM 04 W Kenwright CBE (Chairman) J V Woods (Deputy Chairman) Chairman’s Statement 05 K Wyness Financial Review 06 R I Earl Youth Academy 07 Chief Executive Sales and Marketing 08 K Wyness Communications 09 Everton In The Community 10 Company Secretary Directors’ Report 11 M J Evans Report of the Independent Auditors 12 Registered Office Consolidated Profit and Loss Account 13 Goodison Park Historical Cost Profits and Losses 14 Liverpool L4 4EL Group Balance Sheet 15 Auditors Company Balance Sheet 16 Deloitte & Touche LLP Consolidated Cash Flow Statement 17 Liverpool Notes to the Accounts 18 Bankers Results and Attendances 2006/07 30 Barclays Bank plc Final League Placings 2006/07 31 Liverpool Fixtures 2007/08 31 Registrars Honours List 32 Capita IRG The Registry 34 Beckenham Road Beckenham Kent BR3 4TU ANNUAL REPORT AND ACCOUNTS 2007 02 03 NOTICE OF THE AGM CHAIRMAN’S STATEMENT Notice is hereby given that the one hundred Notes Tumultuous years have been something of the But a democratic process was the only way we and twenty eighth Annual General Meeting of A member entitled to attend and vote at the norm during Everton’s long and rich history. But wanted to proceed in what everyone at Everton The Everton Football Club Company Limited above meeting may appoint one or more proxies there is little doubt that, even in the context of felt was the most important decision we would (The Company) will be held in the Alex Young to attend, and on a poll, to vote in his/her place. this great Club, the last 12 months have been have to take. Leaving the beautiful old lady Suite, Goodison Park, Liverpool, L4 4EL on the A proxy need not be a member of the Company. incredibly eventful and emotive. that is Goodison will be akin to bidding farewell 4th December 2007 at 7pm for the purpose of to a cherished family member, but our future considering the following ordinary business. To be valid, a duly executed instrument of proxy On the field, the emotions evoked have mainly progress will be best served at a new home. must be lodged at the Registered Office of the been ones of exhilaration. It fills me with great 1. To receive the Directors’ Report and Financial Company at least 48 hours before the time pride that, after the bitter disappointment But we will never forget our heritage and our Statements for the year ended 31st May 2007. appointed for holding the meeting. of our premature exit from Europe in 2005, history – a history that can now be preserved for 2. To re-appoint Deloitte & Touche LLP as the manager and players demonstrated great posterity thanks to the successful work carried Auditors to the Company and to authorise the The stock transfer books of the Company will be resolve and consistency to secure a sixth place out by the Everton Collection Charitable Trust Directors to fix their remuneration. closed until 5th December 2007. finish in May, and of course, a return to the in securing the David France Collection. David’s 3. To re-elect a Director – in accordance with European stage. unparalleled collection will now be combined the provisions of Article 18.2, Mr J V Woods Information to Shareholders with Everton’s own impressive array of historical retires by rotation and being eligible offers Shares in Everton Football Club Company David has, as always, been fully supported by memorabilia to be housed in the Liverpool himself for re-election. Limited are “off-market”. If you wish to buy or myself and the Board of directors – something Records Office from early 2008 so that future 4. To elect a Director - R I Earl having been co- sell shares in the Club you should, in the first I have always stressed was essential in order to generations will have the opportunity to opted to the Board on the 18th June 2007, be instance, contact your own stockbroker. If they build on the impressive foundations that have immerse themselves in the deep well of Everton re-appointed to the Board. decline to act “off-market” you can then deal in been put in place during the last six years. In history. 5. To transact any other business which may be Everton Football Club Company Limited shares each of the last two seasons we have found the transacted at the Annual General Meeting of through Blankstone Sington Limited, 91 Duke funds to exceed our previous transfer record, Alan Ball provided outstanding backing and the Company. Street, Liverpool L1 5AA. Telephone no. 0151 707 with the signing of Andrew Johnson for £8.6m support to the Everton Collection Charitable 1707, contact name Neil S Blankstone or Neil in June 2006 followed in August this year by the Trust’s work to secure the funding required. By order of the Board Turner, who have indicated they will be happy to £11.25m acquisition of Ayegbeni Yakubu. It is heartbreaking that one of our closest deal with the transfer of Everton Football Club friends and greatest servants will not have M J EVANS Company Limited shares “off-market”. That level of financial investment in the playing the opportunity to visit the Collection. Bally’s Company Secretary staff has affected the Club’s profits. But the untimely death in April at the age of just 61 Goodison Park If you require any information in connection impact on the finances has been restricted to a was devastating. I feel privileged to have been Liverpool L4 4EL with share matters then in the first instance minimum thanks to careful fiscal management able to call Alan a close friend. But such was his Date: 1st November 2007 please contact our Registrar, Capita IRG, The at the Club. impact on this Club that he was, quite rightly, Registry, 34 Beckenham Road, Beckenham, Kent regarded by all Evertonians as their friend – his BR3 4TU. A glance at our squad list and our list of senior loss was felt throughout football but nowhere internationals provides evidence of the clear more so than at Goodison. Our Registrars or the stockbroker shown above progress being made. But it is not just in terms will be able to advise any shareholder of the of playing staff that we have been able to make The image of the little, flame-haired, white price at which Everton shares are being traded. major advancements. booted firebrand gliding across the Goodison turf will be permanently etched on the Everton can now boast one of the most memories of all who were fortunate enough technically advanced training grounds in to have witnessed him in his pomp – myself football, with Finch Farm now open to both the included. senior squad and the Everton Academy. It is a facility of which we can all be proud and, just In June 2007 the Club welcomed Robert Earl to as Bellefield was ground-breaking when it was the Board. I’m sure that Robert’s extraordinary redeveloped in the glorious summer of 66, Finch entrepreneurial abilities and business acumen Farm underlines the high standards expected of will compliment the existing strength of the Everton. Board in running and shaping the future of the Club. At last year’s AGM I made a pledge to my fellow shareholders that a formal ballot would take I am proud to be Chairman of what I believe place concerning the possibility of a move to a to be the greatest club in football and, as ever, new ground development in Kirkby. That ballot, all I can promise is that I will continue to work organised and conducted by the Electoral tirelessly for that privilege. Reform Society, took place in August. In excess of 36,000 supporters were eligible to take part Bill Kenwright in the vote. A majority of 59.27 per cent of those fans who submitted a ballot paper voted in favour of the move. The ballot obviously proved a hugely emotional and soul searching time for Evertonians – just as I knew it would. ANNUAL REPORT AND ACCOUNTS 2007 04 05 FINANCIAL YOUTH REVIEW ACADEMY The increased investment in the playing squad, to report that we have recorded only a small The Board recognise there are risks which The last 12 months has been one of significant the top scorer in pre-season and continued to At time of writing, our youngsters are second non participation in European football in the operating loss before player trading of £0.5m affect the Group and have sought to minimise change for the Everton Academy. There is no impress, netting four goals in the campaign and in the table with an impressive succession 2006/07 season and the outsourcing of the (2006: profit of £3.1m). The inclusion of the those risks. Our cost base, in common with doubt that the biggest single event has been the accumulating 23 appearances in total – albeit of victories under their belts. Many of those merchandising and catering operations at the amortisation of players’ registrations of £10.4m other football clubs, is relatively fixed in the transition from the former base at Netherton many as a substitute. The Academy takes pride youngsters have earned international honours in start of the financial year are all reflected in the (2006: £11.4m) means that in the current year short term, hence unfavourable movements to the new cutting edge facility at Finch Farm in the fact that, in 2006/07, we extended our the last year and they are listed below.