WORCESTER City say they are in a “manageable” financial position despite suffering a loss of £43,175.

The figure is revealed in the Conference North club’s latest accounts for the year ending May 31, 2013.

Although the balance sheet shows a profit and loss drop of £188,942 over the previous 12-month period, £145,767 of that relates to costs incurred on the now-defunct Nunnery Way stadium project and have been written off.

However, that money was spent up to five years ago, but had to be kept in the accounts, and does not impact the club’s current situation.

Money remains tight for the Blue and Whites but the move to Aggborough has not hit them as hard as was feared when they left St George’s Lane.

While it costs around £2,000 to stage a match at Kidderminster Harriers, that is around 50 per cent cheaper than at the Lane when ground maintenance is factored in.

Chairman Anthony Hampson said: “The move to Kidderminster was necessary and, though could be considered expensive if looked at in isolation, is still cheaper than having the overhead of an ageing stadium.

“The club continues to monitor the costs associated with stewarding and added officials that are mandatory at our level of football but many events are beyond the club’s control and create further costs such as a new need for a pitch-side medical officer and other onerous requirements.

“The club is in a manageable position financially albeit with record wage growth in English football now reaching new levels which has had a ripple affect down to our level and is unsustainable in the medium to longer term.”

However, with crowd levels holding up last season, more than 250 season tickets already sold for 2014-15 – nearly two-thirds of which are at full price and not the £100 offer – and the successful gold bond lottery, officials have reasons to be optimistic.

But they accept more has to be done to bridge the gap in the accounts, of which 2014 will not include sponsorship money from Careys New Homes, the final £62,500 payment coming last December.

“Simply put, the club needs further major sponsors or other income to fill this gap and sale of season tickets and gold bond tickets is helping to do this,” Hampson added.

The club still has to pay capital gains tax on the Lane but that figure will be deducted from the total due to be returned to City by St Modwen.

An agreement is in place for the property developer to hand back an undisclosed amount of the £1.266million Worcester paid towards infrastructure at Nunnery Way.

A clause prohibits either party from disclosing how much City can expect.