Chairman's statement describes Phil Neville as a "legend". I wouldn't go that far.
Official site:
PDF file:
.
Positives:
Income from "Gate receipts and programme sales", "Broadcasting", "Sponsorship, advertising and merchandising," "Catering" and "Other commercial activities" have all increased.
Bank overdraft down from £12.5m to £3.8m (presumably from sale of players)
Still have a competitive squad
Negatives:Other borrowings increased by £4.9m from £14.9m to £19.8m
Note 1:
So, in other words, the £12.868m loan to cover the overdraft was renewed after 5 April 2013 ( I posted the details on here somewhere) and because other clubs do it, its deemed ok.
In short, the amount borrowed has increased to cover the rising cost of maintaining the club. There'll probably be a more detail review on Toffeeweb in the coming days. There's nothing particularly remarkable about the accounts.