Derry GAA financial statements for the year ending October 31st 2020 have been released, ahead of next week’s Derry GAA AGM.
Income for the year is £983,401 which is down from £1,330,359. This includes commercial income of £234,899, and income from associated bodies. Also included is an intake from the #WeAreDerry Derry GAA Championships streaming service, which amounted to over £75k and is a combination of live TV subscriptions, Season Passes for on-demand 2020 Championship content and partners (platform sponsorship and TV ads).
Net expenditure is down to £946,818 in 2020. This includes a drop in overall team expenditure to £340,294 which is down from £561,515 in 2019.
Having paid off the capital loan of £650,000 secured in 2013, as of October 31st 2020, Derry GAA is now debt free with £6.2m in assets and a net surplus for the year (2020) of £201,440. Current at bank cash in hand sits at £116,874, up from £28,037 in 2019.
Planning ahead, Derry GAA also secured an additional facility of up to £300k, if required, in line with our strategic plan. At this time, and with current interest rates due to Covid-19, this made solid business sense. However, no part of this has been drawn down.