WHAT next for troubled Worcester City Football Club?

That is what supporters are asking after figures revealed the nomadic club’s money is running out fast after a loss of almost £300,000 from 2016 until 2017.

City’s net worth went down from £496,714 in May 2016 to £206,717 in May 2017 — and that includes £156,355 of shareholders’ money.

Their newly-published unaudited accounts say the club lost £289,997 in the last financial year which is almost double the amount of losses sustained between 2015 and 2016.

Rob Crean, secretary of Worcester City’s Supporters’ Trust, said he was “concerned” by the figures and urged the Midland League club’s chairman Anthony Hampson to hold a meeting with shareholders.

“I am obviously concerned that the losses are greater than we expected bearing in mind the cost cutting they put in place in dropping down the divisions,” Crean said.

“We need to dive into the detail of this to find out more but we need Anthony to explain the figures himself.

“We can second guess the reasons for the losses but only the board know why and shareholders need to be informed.

“The most important question to ask is whether there is enough money left in the bank and how long is it going to last to keep the club going day by day.

“Anthony has said previously there was enough money for phase one but it looks like the figures don’t seem to marry up.

“The ball is in Anthony’s court now to explain the losses.”

The notes to the financial statements stated City’s directors had “taken steps to reduce the losses” as they agreed to tighten up their budget in February last year.

The club failed to avoid the drop from National League North last season before plummeting two further divisions due to financial reasons.

However, the notes expect the club to lose further money in future years as it continues to play away from Worcester.

City have been playing home games at Bromsgrove Sporting’s Victoria Ground since 2016 after three years at Kidderminster Harriers’ Aggborough.

But the cash-strapped club are working in conjunction with Worcester City Council and Worcestershire FA to build a new home at Parsonage Way.

The statement said: “In June 2013, the company moved out of its ground in Worcester following its sale and is at present playing its home matches under a ground-share arrangement some distance away from its traditional base.

“There can therefore be no guarantee that attendances will continue at sustainable levels and therefore factors such as team performance and poor weather in the future may have a more detrimental effect on the number of people attending games than might be the case if they were played locally.

“The company is currently involved in a planning application process with the objective of relocating the club back to Worcester.

“However, at the present time there is no firm indication of when the matter will be considered by the planning authorities.

“The company has sustained a loss on its operations during the year under review and further losses are expected to be incurred in the current and future years.

“The company received the balance of sale monies from the disposal of its ground in 2014 but these have been depleted quite rapidly as they provide the only means of covering ongoing losses year on year in the absence of new sources of sponsorship or other income.

“The directors have taken steps to reduce the losses but nevertheless these factors represent material uncertainties which cast doubt on the company’s ability to continue as a going concern in the years to come.

“But after making full enquiries and considering these uncertainties the directors consider it appropriate to prepare the financial statements on a going concern basis for this year.”

Hampson has not responded with a comment on the club’s financial position.