Invicta celebrate debt free start to 2015!

Ryman South Folkestone Invicta are celebrating a debt free start to 2015 and thanking their fans for making it possible.

Delighted officials at the Fullicks Stadium have announced that the club has finally cleared all its debts five years after hitting the financial buffers and entering administration.

In a statement announcing the news, Folkestone Invicta chairman Jim Pellatt, pictured alongside manager Neil Cugley, hailed the club’s supporters and a number of key directors for their efforts and said it was now a case of "onwards and upwards" at Cheriton Road as the Kentish outfit seeks promotion.

Pellatt said: "We were hoping for good turnout against Hythe on Boxing Day, and it proved a terrific day for the club, both financially and on the park with us winning the game. And, in accordance with a pledge made by the club on the strength of a successful Christmas holiday fixture, we have made the final payment to the CVA, two months early.

"We are of course delighted to confirm that this has been done, and it has been confirmed by the administrator of the CVA who will now start the formalities to finalise it.

"I’ve said before now that at least 80 per cent – maybe more - of CVAs don’t see a positive result for the company or in our case, the football club involved, which makes what we the board, manager Neil Cugley, his players and you the fans have achieved all that more satisfying for every one of us who have been involved.

"For legal reasons we were unable to obtain a list of supporters who made donations to the CVA over these last five years but that has now been provided and we will be writing to each and every one of you who had enough faith in what we were doing to support us in the way that you have.

"We cannot thank you enough. Your donations represent a substantial contribution over these last five years, without which we would have not been able to pay off the debt in this way."

Paying tribute to the directors who kept the club going, the Invicta chairman said: "We must not forget the very generous donations made in February 2010 by current directors Bob Dix, Brian Merryman and then chairman Lynn Woods, who between them made the down payment on the CVA.

"Without that this whole arrangement would not have been possible and Folkestone Invicta Football Club would almost certainly not have survived."

According to Pellatt, the fans are still needed for one last vital job, preparing the club for possible promotion to the Ryman’s top flight.

"While the payments to the CVA have now come to an end, we must now raise a five figure sum by March 31 to completely tarmac the walkways around the playing area," he said.

"If we are honest, this has been badly needed for some time, but we must also do this work to meet ground-grading requirements. So if anyone who has been contributing to the CVA feels able to continue their donations, we will be very, very appreciative of your continued generosity and support.

"Like many clubs are our level, Folkestone Invicta will always rely on donations, sponsorship, advertising and fund- raising to survive. And though this is a great day for us as we can announce that we are debt free, we should all remember that when signing a new five year lease just under a year ago we were allowed a 12-month rent ‘holiday’ by Shepway District Council while we cleared the CVA.

"We very much appreciated that help from the Council, but we have to start paying rent on the ground and facilities in April and that, along with increased insurance premiums, adds up to more than the payments we were making under the CVA.

"Most importantly from the football club’s point of view, we want to start preparing for promotion when it eventually happens – which it will. And then even just survival at Ryman Premier level undoubtedly means increasing the playing budget."

Pellatt added: "We are a football club, and we want to be able to give our excellent manager Neil Cugley the best support we possibly can. Without his patience and fortitude, and especially his understanding of the position the club was in, we would not be where we are today.

"It is testimony to the determination and spirit of everyone at our club that we have got through this. It has been a long five years, but it is now beginning to feel that it’s all been worth and all I can do is to say a hearfelt 'Thank you all'."

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