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New format financial statements published
Our Club has adopted the International Financial Reporting Standards (“IFRS”) format for its full financial statements that are now available on this website. The enhanced disclosure of information of IFRS provides a better understanding of the financial performance of the Club and its financial position.
Financial information is published in the About the Club section of our website. A detailed explanation of the move to IFRS and the advantages it presents to members and stakeholders is found there, together with the key financial statements and extensive supporting notes.
The change has had no impact on the reported financial strength of the Club. The free reserve of the Club before and after transition has remained the same. The value of the Club’s hybrid capital is also unchanged.
The physical copies of the full Directors Report & Financial Statements should be ready for distribution within the next fortnight.