Invicta are back in the black

Folkestone Invicta have thanked their fans for their hard work after announcing that the Ryman South club was on a financially sound footing for the first time in years.

Invicta’s fortunes hit rock bottom in February 2010 when, with debts totalling a massive £195,000, they entered into an agreement with their creditors, principally HM Revenue and Customs, to pay back £78,000 over five years.

At a public meeting at Cheriton Road on Wednesday, delighted club officials vowed to 'stay in the black' on their balance sheets after crediting a number of factors for a vastly improved financial position that saw them end the last financial year in April in profit.

After a large donation recently followed many other smaller amounts since their financial crisis, Invicta also revealed they now only owe just over £16,000 to creditors and expect to be clear of debt by 2015.

Chairman Mark Jenner and Company Secretary Jim Pellatt told fans that apart from stricter controls over running costs, the club has continued to earn prize money from success on the field in both the FA Cup and FA Trophy, was increasing income from its Stripes Club and is still benefitting to the tune of £200 per week from the fundraising activities of supporters.

The arrival of new stadium sponsor Fullicks, pictured, the Cheriton-based electrical appliance specialists, has also been a big boost to Invicta who unveiled a major new sponsorship deal with locally-based solar energy experts M3 Solutions before Saturday’s 3-0 home win over Tooting & Mitcham United.

Pellatt told supporters: "There’s been a real uplift in spirits from everyone at the club – and we are getting results. It’s really a question of staying on this course now we’ve set it and staying sensible. We’re getting towards the stage now when any investment into the club can be used in a positive way."

Manager Neil Cugley, who was also at the meeting to thanks for fans, said: "Sixteen months ago we had no chairman and no secretary and didn’t know how we would cope. To have come from that to where are now is incredible. And, if things continue in the direction they are going, next season we want to be trying to win the league."