Harrogate Town posted a loss of £1 million during its first season in the English Football League.
The club secured professional league status for the first time in its history in 2020 after winning the National League play-offs.
Town then played its entire 2020/21 season in League Two behind closed doors due to the covid pandemic.
According to accounts filed with Companies House, the club published a loss of £1.019 million for the 12 months to June 2021.
The club said it was not alone in struggling through the pandemic and added that growing its fanbase now that spectators are allowed into stadiums was “a priority”.
The accounts added that the club’s cash flow forecast for the next 12 months was dependent on Irving Weaver, chairman and majority shareholder, not requesting £3.7 million he has currently put into the club in order for it to meet its liabilities.
The accounts said Mr Weaver “does not intend to seek repayment of the amounts due for the period covered by the forecast”.
A spokesperson for Harrogate Town said:
“As with all sporting venues, entertainment and hospitality organisations, the club has had a challenging time during the pandemic with not being able to operate fully so we are obviously still playing catch up.
“As you would expect, as a relatively new league status club, and with fans allowed in for the first time this season since being promoted into the league, we are still growing our fan base and that will remain our priority.
“We have lots going on behind the scenes and will be announcing details of all new developments as soon as we are in a position to do so ahead of the new season but we are still in the planning and negotiations stages on various projects.”
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The club is currently in the process of improving facilities at the EnviroVent Stadium on Wetherby Road following promotion to the English Football League.
Last month Town officials applied to Harrogate Borough Council to build a new clubhouse at the stadium to meet demand from increased fans on match days.
Meanwhile, a new ticket office and turnstiles at the EnviroVent Stadium were approved by the council in April 2021.
