As predicted the club made a substantial loss for the second year running posting a loss of £962,736 which was up from 2010's accounts of £821,934.
With no sales of players from June 2010 - June 2011 and gates down it has really hit the club hard.
Wages were down a bit but they will be down a lot more as the club released it's highest earners last summer (Donaldson, Grant, Zola, Ada and MMK) that will show in the next set of accounts.
Questions will arise over the £1m which was loaned to a director a few years back only for it to be written off which when the club needs money does not help. With the £1m loan written off it basically means a £1,962,736 loss.
On the commercial side of the club this was down from £669k to £420k this could be down to a few things with sponsorships being the main one that stands out especially in the present economic climate.
Also as reported on here in the Autumn the directors pumped in over £500k to help the club keep it's head above the water as the club has been losing money hand over fist.
With the end of the season fast approaching the board will be looking at a push into the play-off's and a chance of a Wembley visit and maybe promotion to help the club. Also with the summer coming up and the transfer window opening at the beginning of July the club may have to sell some of it's players to balance the books, these may well include Nick Powell, Max Clayton, Luke Murphy, Matt Tootle and Ashley Westwood.