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Re: The September Treasurer's Update is out.

By VoRToday 20:51Today at 20:51:15In response to Re: The September Treasurer's Update is out.

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NTFC CIC Ltd (limited by guarantee) is set up to be risk averse.

The playing budget is set based on an average home attendance of 400.

If the average home attendance drops below 400 the playing budget will be cut, although realistically with the hardcore support behind the Club it is not likely to drop below an average of 400.

It is a non-profit making business, so although it is a limited company, with Lee's careful management of the accounts, they should only pay the minimum amount of Corporation Tax.

The problem the business has moving forward, because of its constitution, is that it will find it difficult to raise equity.

It is not a Charitable Institution so gifts are treated as income & will also be subject to a Corporation Tax roll-up.

Your illustration, although very valid, is unlikely to ever be exercised by the Club.

That is proven by its lack of ability to sign/buy a goalscoring striker.

They seem confident enough in the ability of the management team to keep Town in this league.

Edited by VoR at 20:54:34 on 23rd October 2026
Edited by VoR at 20:56:01 on 23rd October 2026

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