Page 6 - Malahide United AFC Newsletter

Grand Hotel Malahide 12 11 2018
Malahide United’s AGM was held in The Grand Hotel on 12th November 2018
The meeting was very well attended with one of the biggest turnouts 82 members registered The income and expenditure account for the the the year ended 31 January 2018
shows the the the income of of of the the the club of of of €326k and expenditure of of of of €354k (including depreciation of of €72k on on the clubs assets) leaving a a a a deficit of of €28k The club is financed by members subscriptions rental income from the new building and grants received Income from the new building increased as as a a a result of rent reviews The contribution to the the club from the the gym coffee shop and creche is now €125k per annum In 2010 and 2011 the the club borrowed €432k to to fund the the the the floodlighting for the the the the the bottom pitch pitch the the the the the replacements of of the the the the the the all all weather weather pitch pitch and upgrading of of the the the the all all weather weather pitch pitch floodlighting at at a a a a a a a a a a a time when sports capital grants were not available At 31 January 2018
the the balance owedtothebankwas€158k This has has since reduced further and and now stands at at €140k The club has has repaid €292k to date www MalahideUnited com 67