WORCESTER City’s financial position is “worse than expected” after figures revealed the cash-strapped club had recorded a loss of more than £150,000 from 2015 until 2016.

According to City’s latest abbreviated accounts the club lost £155,362 in the last financial year which was £34,955 more than the forecasted figure.

It means the net worth of City, in exile since 2013, has gone down from £652,076 to £496,714 between May 2015 and May 2016 which includes £155,155 of shareholders’ money.

The club’s losses have been mitigated by successful runs in the FA Cup, reaching the second round in 2014 and the first stage last year.

But after failing to repeat their exploits this season the National League North outfit’s bosses admitted they were expecting to make a “further significant loss” heading into May.

Their off-field troubles have led to increasing concerns among fans with Worcester City’s Supporters’ Trust holding a meeting last night to look at what “due diligence” was needed to understand the financial position.

The trust have agreed to work with the club’s board towards a community ownership model which could help bring extra funding into the club.

Nomadic City play at Bromsgrove Sporting’s Victoria Ground after three years at Kidderminster Harriers’ Aggborough base.

But a decision on plans to build a 4,419-capacity stadium at Perdiswell Park could be made as early as May after Worcester City Council launched a fresh 21-day consultation on Wednesday.

Trust secretary Rob Crean said: “The trust have called a board meeting to look to push forward the community ownership model with the club.

“With the welcome news of the Perdiswell application this is key.

“In light of the worse-than-expected financial results which have just been released we will also be considering what due diligence we may have to go through to understand the full financial position the football club are in.”

Worcester-based auditors JFA Chartered Accountants said in the accounts the club remained a “going concern”.

“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,” it said.

“Although the company received the balance of sale monies from the disposal of its ground last year, the directors feel it is important to highlight the fact these funds are being depleted quite rapidly as they provide the only means of covering ongoing losses year upon year in the absence of new sources of sponsorship or other income.

“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.”

Last month all players were put up for transfer in a bid to “protect the remaining funds” and “bring forward a break-even budget for next season” with strikers Lee Hughes and Colby Bishop quickly leaving the club.

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

City’s annual general meeting will be on Thursday, June 29.