A proper dig through of accounts reveals a few other points:
Directors emoluments are £122,500 (page 14) - wonder if this is Nick Watkins salary, or the combined sum of what all the directors draw from the company. Either way, not a lot of money.
Although the club is profitable, it owes the holding company 'Swindon Football Holdings Limited' a total of 7,025,984, plus an additional £1,000,000 to Sir Martyn Arbib. A very wealthy man and the money behind the Fitton consortium. He was the one stood next to Fitton at Wembley when Milwall lifted the play-off trophy. This loan is interest free though until 2013, so obviously he is committed in the short term.
Page 20. STFC was charged £10,566 by Graachi Capital Management Limited
http://www.gracchi.co.uk/key-personnel.php. This is an investment firm owned by Fitton and Jeremy Wray. Wonder what this is for? Probably expenses?
Also page 20. STFC was charged £128,718 by Q4 Management Limited
http://www.q4management.com/consultants.php which is a company Nick Watkins owns. I presume this is his salary. Fairy reasonable for a CEO salary.
All in decent reading, although seeing the £7m owed to the holding company is a reminder football is a rich mans hobby. No sinister agenda here, but good to see the company isn't being fisted in anyway, as we would expect.
Hopefully the Austin and Morrison sales will see us through the next few years too...