DAFC Accounts 2013-14

The statutory accounts of Pars United CIC (“PU”) for the period ended 31 May 2014 and of Dunfermline Athletic Football Club Ltd (“DAFC”) for the year ended 31 May 2014 have now been filed at Companies House and will shortly be issued to shareholders.

The PU accounts reflect the company’s initial raising of equity capital, the purchase of the shareholding of 93.58% of DAFC which had been held by DAFC’s administrators and the company’s continued financial support of DAFC.

The DAFC accounts represent the financial results of a very extraordinary year and are not at all a measure of a normal year’s trading. DAFC started the year in administration and, as a result, both the profit and loss account and the balance sheet reflect a number of non-recurring items.

During the year, DAFC benefitted from donations from a wide range of supporters and supporters’ groups and, of course, very considerable debts were written off, following the CVA in July 2013. The boards of both PU and DAFC are very much aware of the financial losses incurred by the football clubs creditors and are grateful for the continued support of sponsors, advertisers and other providers of goods and services.

The closing balance sheet of DAFC should now represent a proper starting point for what is hoped will be the financial and football recovery of the club.