Report And Financial Statements - 31 May 2004


Chairman's statement

Financial review

Statement on social responsibility

Consolidated profit and loss account

Consolidated balance sheet

Consolidated cash flow statement

The financial information set out in these statements does not constitute the Company's statutory accounts for the years ended 31 May 2004 and 31 May 2003. The 2004 accounts were approved by the board of directors on 31 August 2004 and have been filed with the Registrar of Companies. The auditors' opinion on the statutory accounts is unqualified and does not include a statement under Section 237 (2) or (3) of the Companies Act 1985.


The year saw us finish in 4th place in the Nationwide League division one and thereby qualify for the divisional play-offs where we took part in two highly charged matches against Ipswich Town.  The tremendous atmosphere for the second leg of the semi-final play off at the Boleyn Ground will be remembered by everyone who watched the game and the winning result qualified us for the divisional play-off final on Saturday 29th May at the Millennium Stadium where, unfortunately, a lacklustre performance saw us lose 1-0 to Crystal Palace.  As always on such occasions our support was tremendous and I would like to thank all those supporters who travelled to Cardiff for their marvellous backing on the day and say how sorry we were that the day ended in such disappointment.  May I also offer my sympathy to the thousands of supporters who were unable to obtain tickets for the match.

We had three managers during the season, transferred 10 players for £24.8m, released 10 players, signed 14 players for £5.1m and took 7 players on loan.  In all 40 players appeared in the first team squad during the season and, under the circumstances, perhaps 4th place was a creditable performance, although I accept that nothing takes away the disappointment of our defeat in Cardiff.

Operating Results

Following the devastating financial effects of relegation the group's financial results are little short of extraordinary. The group generated a pre-tax profit of £11.8m and our net asset value grew from £13.4m to £39.7m. Overall liabilities fell by £17.6m and our net bank borrowings fell by approximately £10m to £33.8m. A remarkable achievement under the circumstances and I would like to thank all our staff who have made this financial progress possible.

Once again, Nick Igoe, our Finance Director, has prepared a detailed financial review and I do hope that both shareholders and supporters will find the additional financial information helpful.


During the season the team achieved results in 36 of our 46 league games but too many drawn games ruled out automatic promotion.

Two players - Stephen Bywater and Nigel Reo-Coker - were selected for the England under-21 squad, Anton Ferdinand was selected for the England under-18 squad and Chris Cohen and Mark Noble were selected for the England under-17 squad.

Christian Dailly and Don Hutchison won Scottish caps.  Andy Melville represented Wales and Richard Garcia was selected for the Australian under-23 squad.

On Thursday, 2nd September we celebrate 100 years of football at the Boleyn Ground.  During those 100 years, 48 seasons have been spent in the top division of English football.

Alan Pardew, who took over the management of our team on 18th October 2003, is determined to return the club to the Premier League and I would like to thank him for all his efforts on our behalf. My thanks also go to Peter Grant, our Assistant Manager, who was appointed on 22 January 2004 and Roger Cross.

Our Academy goes from strength to strength with some of our finest ever young players now emerging. Worth mentioning, perhaps, is our under-9 squad's record for the season, namely P27, W24, D3, L0, F182, A50.

I would like to thank, once again and most importantly, our Academy Director, Tony Carr, Director of Youth Development, Jimmy Hampson, Youth Team Coach, Kevin Keen and all their colleagues for ensuring that our Academy remains at the forefront of English youth football.

Social Responsibility

Our commitment to the community remains of paramount importance as we believe it is only by making sure that our communities are inclusive and welcoming, where everyone is respected and has the same life chances, that London (and its surrounding counties) will continue as a confident and successful part of the country.

It remains a fact that the power and allure of football can be used to the benefit of huge numbers of young people and their families to stimulate learning and to encourage inclusion.

We include elsewhere in this report a detailed summary of our current community projects and I would like to take this opportunity to thank Alison Lovett, Community Relations Executive, Roger Morgan, Community Manager, Mick King, Asians in Football Manager, Jo Robson, Study Centre Manager and all their colleagues who continue to work so hard on our behalf.

I would also like to thank our players who, once again, have taken part in numerous community events during the year.  Their commitment and interest has given encouragement to hundreds of youngsters.

Retail and Commercial Operations

The closure of our Bluewater shop was added to the list of closures we announced last year and, despite the reduced number of outlets, West Ham United Sportswear Limited was able to maintain its turnover and, with substantially reduced costs, return to profitability.  Much of this success is due to the stadium superstore which has been very well received by our supporters. 

West Ham United Hospitality Limited, which operates the hotel, conference and banqueting facilities at the stadium, continued to make a substantial contribution to the profit of the group for the financial year.  The company has achieved seven days a week use of the stadium with up to nine events taking place on some days.  My thanks, once again, to David Thorpe-Tracey and his team who continue the profitable development of this company despite no longer benefiting from the revenues associated with a Premier League team.


We continue to contend with the consequences of relegation or, should I say, with the financial consequence of relegation.  If it were not a fact of football life no one would believe that twenty businesses would sign up to a round of Russian roulette that consigns three of their number each year to penury at best or administration at worst.  It really is short sighted to impose such drastic commercial penalties on those who are relegated and I have no doubt that chickens will come home to roost for many clubs in the future. Having said that, we did sign up to the process and we are now faced with the challenge of achieving success on the pitch whilst ensuring sustainability of the business off the pitch.  This is no easy task but one your board has tackled with vigour and dedication and I do believe we have acted correctly in ensuring the future survival of the club.

I believe we should be proud of all we have achieved during the last decade whilst, of course, recognising the mistakes that were made striving for those achievements. We all share the disappointment and frustration of relegation and our subsequent failure in Cardiff but we need to channel that frustration towards ensuring we maintain our unique football club for future generations and return to the Premier League.

I understand, of course, that in footballing terms the club has fallen a long way in a short time and I realise how disappointing this is for supporters but our situation can change quickly. When that happens and we return to the Premier League we will be in better financial shape than when we left, with greatly reduced debts.


I would like to thank Robbie Cowling and his colleagues from Jobserve for their sponsorship of the club and Reebok, our kit and technical sponsor, for all their support and assistance during the season.

We continue to work closely with the London Borough of Newham and I would like to thank the councillors and officers of Newham for their continued advice and assistance.

On behalf of all our staff, management and supporters may I offer our most sincere congratulations to Sir Trevor and Lady Hilkka Brooking following Sir Trevor's knighthood in Her Majesty the Queen's birthday honours list.  May I also congratulate Jack Petchey OBE, who served as a director of the club from 1978 until 1990, following his decoration for services to young people in East London and Essex through the Jack Petchey Foundation.

Finally, may I thank my fellow group directors, our management team and all our staff, who have worked so hard throughout the year, all those who have supported our commercial activities and, once again, our magnificent supporters.  All are very much appreciated.

Terence Brown

31 August 2004


This financial review presents the group's results for the current year within the context of a five year history.  The group recorded an £11.8m profit notwithstanding a 32% drop in turnover following relegation from The FA Premier League in May 2003. Net bank borrowings have been reduced by £10.3m to £33.8m.

Profit & Loss Account

The table below summarises the group's trading results over a five year period.

 Total2003/042002/032001/022000/011999/00 £m£m£m£m£m£m       Turnover 208.9 35.151.7 48.4 38.0 35.7 Wages & salaries(146.3)(23.2)(33.3)(33.1)(31.6)(25.1)Other administrative expenses(69.0)(14.5)(15.5)(14.4)(13.3)(11.3)        Operating profit/(loss) before player trading(6.4) (2.6)2.9 0.9 (6.9)(0.7)Interest payable(8.7)(2.2)(2.3)(1.8)(1.3)(1.1)        Profit/(loss) before player trading & after interest(15.1)(4.8) 0.6 (0.9)(8.2)(1.8)Player amortisation(40.0)(5.2)(6.4)(13.6)(8.8)(6.0)Profit on disposal of players57.0 21.80.5 11.0 18.0 5.7 Exceptional write off on demolition of west stand(5.7)---(5.7)-        Profit/(loss) before taxation(3.8)11.8 (5.3)(3.5)(4.7)(2.1)

The profit is principally a result of the £21.8m profit on player sales necessitated to address the decline in revenue following relegation. The scale of the profit, however, needs to be viewed in the context of losses over the preceding four years of £15.6m (£9.9m excluding the exceptional write off in 2000/01) and emphasises the effect of the application of UK accounting standards on the results of football clubs.

The profit on sale of players comprised £24.8m of proceeds (after deduction of costs of realisation) less £3m of unamortised cost of players sold. Roughly 50% of the proceeds related to players who had graduated from the West Ham United Academy to whom, in accordance with accounting standards, no value had been attributed in the group's accounts. Indeed the annual cost of operating the Academy (currently approximately £1.5m in direct costs), which it might be argued represents the true development cost of these players, is written off as it is incurred, thereby contributing significantly to historical operating losses.

The remaining 50% of the sale proceeds related to players originally costing the club £17.1m but with a residual value in the group's accounts at the date of sale of £3m. The £14.1m amortisation charged in respect of these players will have contributed significantly to the cumulative five year charge of £40m and resultant losses.

Financial Reporting Standard 10 sets out the accounting treatment for all intangible assets and specifically, so far as football clubs are concerned, the cost of player registrations. The standard has a broader application for other intangible assets such as goodwill, patents, trade marks, etc. but, by contrast with the cost of players, these assets are not developed over such a short period of time nor are they traded so frequently. Consequently, the application of FRS10 to the cost of player registrations, although prudent in terms of cost apportionment, can give rise to exceptional movements in profit such as experienced by West Ham United in the five year period and provides no scope for the valuation of home grown players.

At an operating level, turnover of £35m would compare favourably with a number of clubs in The FA Premier League. Significant savings were achieved in wages and salaries, principally player wages which nevertheless comprised approximately £15m of the total figure. Material overheads savings were also achieved.


The table below shows a five year summary of group turnover.

 Total2003/042002/032001/022000/011999/00 £m£m£m£m£m£m       Match receipts & other football income67.714.014.6 13.3 13.2 12.6 Broadcast & central sponsorship distributions79.79.221.1 21.6 14.8 13.0 Commercial activities31.45.09.1 7.4 5.1 4.8 Retail & merchandising20.13.53.5 4.4 4.2 4.5 Catering & hospitality10.13.43.4 1.7 0.8 0.8         209.0 35.151.7 48.4 38.1 35.7

Match income was bolstered by the proceeds of the play off semi-finals and final, which generated a net £1m, together with the income from seven FA and Carling Cup ties. The club enjoyed excellent levels of support throughout the season with league attendances averaging 31,300 (almost 7,000 higher than the next highest average gate in the Nationwide League), a drop of only 8.5% on average Premier League attendances in 2002/03.

Central broadcast and sponsorship income largely comprised parachute payments from the Premier League and was slightly in excess of original expectations due to higher distributions and income from cup appearances.

The drop in commercial income reflected the non-recurrence of the exceptional £1.5m received last year together with a reduction in sponsorship income and lower occupancy of commercial facilities on match days.

Retail and merchandising income showed a marginal 2% increase on the preceding year notwithstanding the club's relegation and the programme of store closures over the 2 year period. The first year of the new Reebok home kit is considered to be a material factor in this performance. Cost savings in excess of £0.5m following the store closures have returned this division to profitability and further savings are likely to accrue in 2004/05.

Catering and hospitality income was consistent with the previous year, a satisfactory performance bearing in mind the impact on this division's operations of the reduced occupancy of commercial facilities on match days.

Cash Flow & Borrowings

The table below reconciles profit/(loss) before player trading and after interest to movements in borrowings over the five years under review.

 Total2003/042002/032001/022000/011999/00 £m£m£m£m£m£m       Profit/(loss) before player trading and after interest(15.1)(4.8)0.6 (0.9)(8.2)(1.8)Depreciation & disposal of fixed assets9.12.72.6 1.9 1.1 0.8 Working capital movements0.3(2.2)(3.3)0.7 3.6 1.5        Net cash flow from operations (after interest)(5.7)(4.3) (0.1)1.7 (3.5)0.5 Transfer fees received/(paid)14.314.8(8.6)6.3 7.9 (6.1)Capital expenditure (net)(33.2)(0.2)(2.7)(15.6)(11.2)(3.5)Share repurchase(1.3)---(1.3)-        Net movements(25.9)10.3 (11.4)(7.6)(8.1)(9.1)Opening bank borrowings(7.9)(44.1)(32.7)(25.1)(17.0)(7.9)        Closing bank borrowings(33.8)(33.8) (44.1)(32.7)(25.1) (17.0)

The group has significantly reduced its borrowings in the period just ended as a consequence of the net £14.8m received from player trading. The group derives considerable satisfaction from the fact that, throughout this period of adjustment, it has continued to pay its liabilities as they fell due and has never needed to consider seeking a deferral of payments due to its playing staff, Crown creditors or any other parties.

Although the total bank debt of £33.8m remains substantial, it is important to recognise that the bulk of this figure comprises the term loan of £29.9m which funded the stadium development and more recent Academy development at Chadwell Heath and which is scheduled for repayment over a fifteen year period from 2001.

Player Trading

The table below shows player trading activity for the five year period, highlighting the often significant timing differences between the date of a player being purchased or sold and the associated cash flows.

 Total2003/042002/032001/022000/011999/00 £m£m£m£m£m£m       Player purchases(49.6)(5.1)(1.6)(16.2)(14.1)(12.6)Adjustment for prior year purchases4.4 -4.4 ---Player sale proceeds70.6 24.81.9 11.6 21.9 10.4         25.4 19.74.7 (4.6)7.8 (2.2)Cash paid/(received)(14.3) (14.8)8.6 (6.3)(7.9)6.1 Opening net creditor(7.6)(1.4)(14.7)(3.8)(3.7)(7.6)        Closing net debtor/(creditor)3.53.5 (1.4)(14.7)(3.8)(3.7)

Although player sales were regrettably necessary last season in order to address the loss of revenue following relegation, net player sale proceeds of £24.8m were slightly in excess of the minimum required to achieve this adjustment. This sales activity was of course influenced in part by the ambitions of the players who were the subject of these transactions. However, a consequence of the level of income generated was that it enabled the club to reinvest £5.1m in strengthening the playing squad, a not inconsiderable sum in the Nationwide League.

Readers will note the net cash inflow of £14.8m against net sale proceeds of £19.7m. Following the relaxation of FA Premier League rules, it is not uncommon for transfer fees to be payable over a period of up to two years. The closing net debtor of £3.5m comprises amounts falling due for payment over the 18 months following the balance sheet date. Further sums which may become payable dependent on future events are excluded from the above net debtor balance.

Capital Expenditure

The table below summarises capital expenditure for the last five years and reconciles this figure to net cash flow.

 Total2003/042002/032001/022000/011999/00 £m£m£m£m£m£m       Land & stadium redevelopment26.6 (0.1)1.3 12.0 11.0 2.4Academy1.5 -1.1 0.4 --        28.1 (0.1)2.4 12.4 11.0 2.4 Plant, equipment & vehicles7.0 0.10.8 2.6 2.3 1.2        Total 35.1 -3.2 15.0 13.3 3.6 Accrued stadium costs(0.7)0.20.2 0.6 (1.7)-Sale proceeds & grants(1.2)-(0.7)-(0.4)(0.1)        Cash flow on capital expenditure33.2 0.22.7 15.6 11.2 3.5

Capital expenditure in the year just ended has been minimal. The above figures also include a small reduction in the cost of the stadium development following agreement of the final contract sum with the contractor.

Notes 1 and 11 disclose that the group's freehold properties have been revalued, in accordance with Financial Reporting Standard 15,  at an aggregate figure of £68.8m. This figure is made up as follows.

 £m  Historical cost, net of depreciation charged33.8Surplus on revaluation   - current year16.1- prior years17.4  Total valuation of land & buildings67.3Total valuation of relevant plant & equipment1.5   68.8

FRS 15 on "Tangible Fixed Assets" was introduced in 1999/2000 with the intention, inter alia, of standardising the bases and frequency of property valuations included by companies in their annual accounts. The Royal Institute of Chartered Surveyors ("RICS") had a strong influence on much of the content of the accounting standard and the group uses a firm of chartered surveyors to undertake the valuations. Most of the group's properties are valued on a "depreciated replacement cost" basis since this is deemed to be most appropriate for properties of a specialised nature. The RICS defines such properties as those which "due to their specialised nature are rarely, if ever, sold on the open market …. for a continuation of their existing use". Clearly the Boleyn Ground meets these criteria. Depreciated replacement cost is defined as "The aggregate amount of the value of the land for the existing use ……., and the gross replacement cost of the buildings and other site works, from which appropriate deductions may then be made to allow for the age, condition, economic or functional obsolescence, environmental and other relevant factors."

Financial Prospects

Although everyone at the club is focused on regaining Premier League status, it has been essential to address the financial realities of life in the Coca Cola Championship. All clubs face the constant challenge of maximising the opportunity for success on the pitch while controlling financial risk off it. This challenge is arguably most testing for those clubs in the upper reaches of the Championship where on-pitch success, in the form of promotion, can bring with it unparalleled financial rewards. 

The steps taken since May 2003 have ensured the financial stability of the group. Our cost base has been reduced considerably and our wage bill in particular will continue to fall as player contracts negotiated while in the Premier League expire over the course of the next two seasons. These cost savings together with transfer fees receivable over the next 18 months ensure that, from a financial point of view, the group can, if necessary, operate effectively in the Coca Cola Championship for many seasons.

Just as importantly, because the club did not gamble on achieving promotion by committing to a higher level of expenditure or debt, had we achieved promotion at the end of last season we would have been in a position to make significant funds available to the manager to strengthen the squad rather than using the additional revenue generated in the Premier League to meet that increased expenditure or repay the increased debt. We would expect to be in a similar position should we be successful in achieving promotion at the end of the current season.

Nick Igoe
Finance Director

31 August 2004


"Football in the Community really means something to West Ham United. They're one of the most socially aware clubs in the country and I'm very proud of them".

                                                                         Tony Banks (Minister for Sport: 1997-99)

Charities Policy

The club supported three charities during the year, all of which received money from our Charity Shield fund:

  • The Bobby Moore Fund Cancer Research UK
  • Richard House Trust Children's Hospice
  • Winged Fellowship - a local charity for disabled people

This year's Football Aid match on 2nd May 2004 raised £10,700 for Field of Dreams.

The second MC Square Mile Cup football tournament took place on 23rd May 2004 and raised almost £60,000 for Marie Curie Cancer Care.

We have also provided match tickets and signed memorabilia for numerous charitable organisations, local schools and youth teams.

Community Involvement

Alan Pardew and the players are aware that, for young people especially, professional football provides hopes of greatness, financial riches and admiration. Football also provides life experiences in terms of health, friendship, excitement, fair play, tolerance of individual differences, social acceptance and fun. Throughout the season they have been actively participating in numerous fund raising and community projects and events attended included Show Racism The Red Card; Little Haven Children's Hospice;  South Essex Partnership NHS Trust Fathers Matter helpline launch; LB Newham Volunteer Network Centre; St Francis Hospice Kids Care fun walk and Barts and The London NHS London Chest Hospital fun run. 

Football In The Community

Our new community centre in Beckton, which offers dressing rooms and a full-size Sportsturf football pitch with floodlights, opened its doors in March 2004 and is being fully utilised by Football in the Community to deliver many of its programmes and coaching courses.  It is also available to local sports organisations for hire.

We are very pleased to welcome Higgins Group plc, one of the leading names in community regeneration and affordable housing for London and the South East, as main sponsors of the Football in the Community programme.  Higgins Group plc has been built on traditions, community values and a desire for success and Mr D J Higgins OBE has been a life long supporter of the club.

Our Football in the Community scheme is part of the Footballers' Further Education and Vocational Training Society and nine full-time staff were employed by the scheme this season.

During the past year we have provided 7,968 sessions for 159,010 participants as detailed below through each of the respective initiatives.

Thames Gateway Youth Football Project

This project is a unique partnership involving the Government, police, the probation service, social services, railway safety officers, the private sector and the football club.  It aims to reduce youth crime, truancy and negative behaviour and develop self-esteem and hope for the future.

As a whole the project participants have improved:

  • Lifestyles
  • Physical fitness
  • Social integration
  • Discipline and self-esteem
  • Return to mainstream education

In the last year 25,000 young people participated in 1,250 sessions.

From Offending to Employment (F.O.T.E)

The North East London Probations Service project is now in its sixth year and is a well-established part of the West Ham United community programme.  Working in association with Barking College and Youth Offending Teams, the programme provides crime diversion strategies for socially excluded 14 to 25 year old males and females within the youth justice system.  Each pupil usually attends for six months and this year 294 sessions have been provided for 6,500 referrals with 5,800 actually attending.

Holiday Football Courses

59 week long courses (5 hours per day) were attended by 5,900 participants.

Girls' and Women's Football

The Girls' and Women's Project aims to increase the opportunities available for girls to play and coach and to raise the profile of the women's game.  It aims to encourage participation by girls, especially teenage girls, in football, encouraging a healthy lifestyle and a continued participation in sport and physical activity when they leave school.  It also aims to support girls to have equal opportunities to play and coach at whatever level they aspire to and to challenge racism and sexism in football, thus contributing towards an inclusive and united sport that brings together individuals and communities.

This year the club took part in the scheme designed by Nationwide Building Society to promote female interest in football.  The grant was utilised to provide free 'girl only' coaching sessions at several schools within the borough and to assist West Ham United Ladies in their efforts to increase participation.

West Ham United Ladies had a successful season in 2003/04 with the under-12's finishing runners up in the Essex County Girls Under-12's League and losing finalists in the Essex Under-12's Cup. The under-14's won the Essex County Girls Under-14's League. The first team narrowly missed out on promotion to the National League after being runners up to Crystal Palace in the South East Combination League. The reserves did well in the Greater London Regional League Reserve Division 1 and will play alongside the first team in the reserve division of the South East Combination League in the 2004/05 season. First team player Stacey Crump was called up into the England under-18 squad.

Learning Through Football

This initiative targets local schools and educates children in anti-racist attitudes, integration, fitness, diet and nutrition. The main objective is to encourage integration via participation learning, where football serves as a common ground for young people from various backgrounds.

The format of the day consists of a practical session on the pitch, followed by a visit to the club museum.  Lunch is provided followed by a fitness, diet and nutrition talk and, finally, a video and discussion session on 'Show Racism the Red Card'.

Study Support Centre

Schools that attend PfS (Playing for Success) sessions at West Ham United Learning Zone are selected by the Inspectorate and Advisory Service for Newham. The Learning Zone has now been established for over six years.  Opened in 1998 as one of the originators of this national scheme that now has 103 sporting clubs on board, the Learning Zone receives national and international visitors and acclaim for its achievements.

Playing for Success continues to be the main project offered and runs each evening from 3.30pm to 7.30pm providing out of school hours learning opportunities for 420 Newham children, from 36 schools, aged 9-12 years.  These pupils are selected by their schools as being 'at risk of underachieving' and whilst at the Learning Zone they undertake activities that use the motivating environment of the stadium to improve their standards of literacy, numeracy and ICT.

During the day the Learning Zone offers a variety of literacy, numeracy, key skills, ICT GNVQ and GCSE sessions.  Some are only one day sessions and some run for up to 12 weeks.  These sessions are offered to any groups or schools and have included training days for local businesses such as Cable and Wireless, family learning and six-week courses for Pupil Referral Units.  There was a total of 65 days booked during this period catering for 1,800 learners.

The Learning Zone works closely with the Youth Academy, offering the youth teams an environment for their study days and providing specialist training days in communication skills, media training, video and digital imagery and also sessions working with the pupils attending Playing for Success sessions.

In October 2003 the Learning Zone was responsible for organizing the 'Kick It Out' activities for the club.  This included a display of the History of Black Footballers in the reception area, pupils interviewing Bobby Barnes and sessions with a local Bhangra dancer.  All this culminated in a display of dance on the pitch at half time and photographs of the players from both teams in their 'Kick It Out' t-shirts.

The Prince's Trust Volunteers Programme

The club has a partnership with Newham College, the Learning and Skills Council and The Prince's Trust to deliver the Volunteers Programme, a 12-week personal development course for young people aged 16-25 living in Stratford, Plaistow, Redbridge and Barking & Dagenham.

The Prince's Trust Volunteers Programme has been running at the club for six years and West Ham United was one of the first football clubs to embrace this national programme since its formation in 1997 when 5-year funding (£3m) was secured from The Football Foundation, The FA Premier League and the PFA.

The aim is to provide new skills and qualifications and to develop the young people's confidence to help them through life and into work or further education.  The programme has a focus on community involvement, giving the participants an opportunity to make a real contribution and help others, often for the first time.  Individuals also have the chance to earn nationally recognised qualifications including QCA Key Skills Units and a City and Guilds Profile of Achievement.

The club offers work placements and stadium tours and provides match tickets, branded merchandise for fundraising initiatives, use of the club logo and a venue in which to celebrate the achievements of the sponsored teams.

Community Learning & Employment Support Network Project

In July 2002, The Learning Goal was opened in the Dr Martens Stand.  Run in association with Newham College, The Learning Goal is an official Learn Direct Centre which aims to develop IT and business skills for adults from the local community. 'New Dimensions' (Newham College employment department) also provides specific sessions such as CV-writing and interview techniques.

The Centre is free to attend for all students.  Current attendance is, on average, 10 adults per week and this number is expected to grow substantially.  It is also open to West Ham United staff who can enrol in courses to further develop their skills.

The Learning Goal facilities include a social area, a working area and an IT area containing 14 computers, printers, scanners, telephones, a white board and projector.  Two part-time employees staff the Centre between 9.00am and 9.00pm on week days and 9.00am to 4.00pm on Saturdays (except match days).

Asians In Football

The project continues to operate in partnership with Sport England, The Football Association, The Football Foundation, and London Boroughs of Newham and Tower Hamlets in order to encourage Asian participation in football. The scheme enables young Asian players to progress from grass roots to excellence.  Throughout the year 1,800 sessions were taken up by 40,000 participants. The project has also attracted two Football Foundation funding partnerships to resource a Football Development Initiative at Mile End Stadium which offers educational opportunities and links to club development exit strategies for young players and coaches to engage in competitive football for the next five years. The project continues to operate as a nationally recognised model of positive practice for social inclusion and integration.

Football at Mile End

The Project is now based at the Mile End Stadium in the heart of the Bengali community of Tower Hamlets in order to work towards a major funding strategy involving Tower Hamlets Leisure Services, Millennium Trust, Sport England, and The Football Foundation. The partnership is bidding to redevelop the site to become a borough-wide centre for football development with nine synthetic pitches and modernised changing facilities. It is envisaged that the project will act as service delivery agents for the development programme which underpins the partnership. The programme links football as an educative process to performance coaching via the development of junior club football. The project also addresses local needs in terms of training and employment opportunities by providing two graduate posts and coaching trainee positions.

Schools PE Programme

Structured programmes of coaching have been provided in accordance with the requirements of National Curriculum key stage 2 levels of attainment. Team teaching techniques were applied in order to provide an effective and supportive environment which is conducive to the learning needs of children. The Upton Park Learning through Football programme continues to be an effective means of engaging children from Newham schools in terms of football fitness, diet and nutrition and anti-racism workshops.

Tower Hamlets and  Newham School Team Leagues

In conjunction with the PE programme participating schools compete in the School Team League at Mile End Stadium. Each team receives coaching prior to and during matches and games are organised and supervised by the projects coaches in partnership with PE coordinators.

The scheme has been extended to operate in the East Ham, Little Ilford and Green Street areas of Newham as part of a partnership programme with Newham Sports Development Team. Players are referred to participate in the club development programme as an effective exit strategy and progression from school team football.

FA Teaching Certificate

Provided for local teachers and community workers, these courses are designed and delivered to increase the technical awareness and enthusiasm to promote football in local schools. Gaining the FA qualification effectively engages teachers in the overall process of progressing young Asian players.

Week Long Holiday Football Courses

Ten week long courses were held in Newham (East Ham, Little Ilford and Green Street areas of Newham) and Tower Hamlets (Mile End Stadium) which were attended by in excess of 1,000 participants. The courses were provided free of charge.

Training and Employment Opportunities

The scheme has expanded from one full time worker to four in the past year. This expansion in capacity building is funded by The Football Foundation Club Development Initiative / Football at Mile End Project (two posts) and the Tower Hamlets Graduate Employment Programme (one post). Two part-time posts operate in Tower Hamlets and Newham respectively (one full-time equivalent).

Club Development

The Football Foundation Club Development Initiative works towards integrating young Asian players into club football. This provides the opportunity for promising players from the school team projects to progress and participate in competitive matches on a weekly basis. This also entails working with local club coaches in terms of professionalising their standards of practice.

Dealing With Racist Behaviour

To deal directly with racism at the Boleyn Ground we promote the "Kick It Out" hotline in our match day programme and work to a common strategy with the local police force to tackle racist behaviour. Our ground regulations prohibit racist behaviour and if we receive a report of such behaviour we ask plain-clothes stewards or police officers to examine the situation and provide evidence if necessary.  If such behaviour is confirmed the offender is arrested and subsequently banned.

Facilities For Disabled Supporters

Tickets for our disabled supporters are available from the ticket office.  Gina Allen deals with all enquiries and also works in the disabled area on match days.  Gina can be contacted on 020 8548 2725 or via email and full details of our facilities can be found on our website.

Tickets for fans in wheelchairs, the ambulant disabled and visually impaired are available at a cost of £15.  Tickets for carers are free of charge.  There are 119 wheelchair spaces and 102 seats provided for the ambulant disabled.  As recommended by the Task Force, visiting supporters in wheelchairs are situated with their own fans.  Supporters who wish to travel to away matches by coach can do so on our official coaches knowing that our stewards will help with access and that the vehicle will be fitted with a lowered platform.  Stewards working in the areas of the ground reserved for people with disabilities are trained in disability awareness.  If carers are not able to purchase refreshments, either our staff or stewards bring refreshments to the fans on request.  In 2002 we canvassed opinion from our disabled supporters on the new development, sending out 200 questionnaires.  As a result a mini-com has been installed in our new ticket office and microport headsets provided for our visually impaired supporters and commentary is provided specifically for them by an experienced commentator. The microport facility can be used anywhere in the ground.

Consultation And Information

Our bondholders meet at the club on the third Thursday of every month. Either a director or senior manager attends on a quarterly basis to discuss issues raised by the group.

The club takes part in The Football Association fan survey each season.

Staff Conduct

We expect and require all our staff to conduct themselves in accordance with the highest ethical standards both on and off club premises. Our staff, supporters and all applicants for employment are regarded equally and are given equal opportunities irrespective of their race, colour, nationality, religion, sex, sexual orientation, marital status, age, disability or ethnic origin.

West Ham United remains committed to meet the demands of spectator comfort and safety and the demands of team building under the umbrella of a secure financial base.


  2004 2003 Operations excluding player tradingPlayer trading * notes 8 & 12)TotalTotal £000£000£000£000      Turnover35,112-35,11251,712     Other operating income212-21223     Administrative expenses(37,892)(5,246)(43,138)(55,295)      Operating loss(2,568)(5,246) (7,814)(3,560)     Profit on disposal of players-21,79221,792551     Profit/(loss) before interest (2,568)16,54613,978(3,009)     Net interest payable  (2,168)(2,257)      Profit/(loss) on ordinary activities before taxation  11,810(5,266)     Tax charge on profit/(loss) on ordinary activities  (1,567)-      Profit/(loss) for the financial year  10,243(5,266)

* Player trading represents the amortisation of registrations and the profit or loss on disposal of registrations.

All activities derive from continuing operations.


for the year ended 31 May 2004

 20042003 £000£000   Profit/(loss) for the financial year10,243(5,266)Unrealised surplus on revaluation of properties16,050-   Total recognised gains and losses for the year26,293(5,266)


as at 31 May 2004

 2004 2003  £000£000£000£000Fixed assets    Intangible assets 8,772<