Maidstone United reveal £130,000 pre-tax profit for the financial year ending June 30, 2021

Maidstone United have announced they made a trading profit for the ninth straight year during the 2020/21 season.

Financial accounts show they made an overall group profit before tax for the year, ending on June 30, 2021, of £131,504.

This came despite last season’s National League funding controversy.

Last month, co-owner Oliver Ash said the Stones “have been working hard with other angry clubs to hold the guilty parties to account” in light of the botched distribution of National Lottery money in October 2020 which was designed to help clubs through the health crisis.

Maidstone were among a number of well-supported clubs to miss out on further much-needed funds after the board went against government recommendations to issue grants based on lost gate revenue and, instead, adopted their own model.

This saw the Stones short-changed by more than £100,000, despite receiving £36,000 a month for lost revenue out of the £10million grant as a result of playing behind-closed-doors.

Income streams for the year for Maidstone fell 46% compared to the year ending June 30, 2020, as the Covid pandemic continued to impact non-league football.

But the club’s supporters and business partners contributed generously to assist the club.

Many season ticket holders donated the cost of their season tickets to the club even though the season was interrupted - and some business partners did the same with sponsorship payments.

In addition, some support was received from the National Lottery funding and from local authority support for the leisure sector.

It is also reported that there is no significant external group debt.

Current shareholder loans of £2,765,000, essentially made in order to construct and then extend the stadium, are matched by