Club publishes 2024/25 accounts
Torquay United has today published its accounts for the year ended 30 June 2025, covering the first full financial year under Bryn Consortium ownership.
It is important to remember the context in which these numbers sit. For much of this financial year, the club was still operating under a CVA until April 2025. A CVA, or Company Voluntary Arrangement, is a formal agreement that allows a business to repay creditors over time following insolvency while continuing to trade. In simple terms, that meant the club was still working through the financial legacy of the previous regime for most of the period covered by these accounts.
We know annual accounts are not always the easiest documents to read, so we wanted to set out a simple summary for supporters in plain English.
There are some encouraging signs in the numbers. The club’s turnover – the income generated from its normal activities – increased from £1.88 million to £2.26 million during the year. Gross profit also improved significantly, rising from £153,370 to £517,978. In straightforward terms, that means the club made better progress from its core trading activities than in the previous year.
At the same time, the accounts show a loss for the year of £742,438. Put simply, the club still cost more to run than it generated in income during 2024/25. The accounts also refer to retained losses of £3.17 million. That figure is not just about this year alone; it is the accumulated deficit built up over a number of years, rather than the result of one season in isolation.
The accounts also include a balance sheet, which is simply a snapshot of the club’s financial position on 30 June 2025. It shows what the club owned, what it was owed, and what it owed to others on that date. At the year end, the club had £47,798 in cash, £166,441 owed to it, and total current assets of £221,742. Against that, it had £1.68 million due within one year and £557,107 due after more than one year.
The balance sheet shows net liabilities of £1.91 million. In plain English, that means the club’s liabilities were greater than its assets at the year end. It does not mean that amount had to be paid immediately in cash, but it does underline the scale of the financial challenge the club has been working through.
It is also important to view these figures in context. The previous year’s accounts showed a large accounting profit, but that was heavily influenced by one-off items, including a £5.92 million loan write-off and an £81,000 historic accruals write-off. Those were exceptional accounting movements rather than normal football trading, which is why the 2024/25 accounts give a clearer picture of the club’s underlying day-to-day financial position.
The notes to the accounts also show continued backing from the ownership structure. At 30 June 2025, the club owed £661,313 to Big in Business Ltd, which is the Bryn Consortium vehicle and is listed as the majority shareholder, with Scoring Goals Limited named as the ultimate parent company. This figure reflects the initial capital funding injected by Bryn, which was used to repay creditors during the period of Administration. In simple terms, it was funding put in to help stabilise the club. That shareholder loan figure is also in the process of being converted into equity over the coming weeks, strengthening the balance sheet further.
The simple takeaway is this: the club made progress in growing income during 2024/25, but it still made a loss and continued to rely on shareholder support. That is why growing attendances, commercial revenues, sponsorship, hospitality and other income streams remains so important as we work to build a stronger and more sustainable future for Torquay United.
We believe supporters deserve openness about where the club stands. Progress has been made, but there is still more work to do, and everyone at the club remains focused on improving the financial position over time while continuing to move Torquay United forward both on and off the pitch.
The full accounts can be viewed here.
Key figures referenced:
| Item | Figure |
| Turnover | £2.26m (2025) vs £1.88m (2024) |
| Gross profit | £517,978 (2025) vs £153,370 (2024) |
| Loss for year | £742,438 |
| Retained losses | £3.17m |
| Cash at bank | £47,798 |
| Amount owed to club | £166,441 |
| Due within one year | £1.68m |
| Due after more than one year | £557,107 |
| Net liabilities | £1.91m |
| Owed to Big in Business Ltd | £661,313 |
Source: Torquay United AFC statutory accounts for the year ended 30 June 2025, signed 31 March 2026
