Folkestone Invicta are set to become debt-free within the next month.

The Company Voluntary Arrangement (CVA) which has hung over the club since 2010 is almost completely paid off, the club revealed on Monday night.

A club statement said: "Folkestone Invicta are banking, almost literally, on a massive turnout for their local derby against Hythe Town FC on Boxing Day, at the Fullicks Stadium, kick-off 12 noon.

"The club is hoping everyone - supporters and friends (and foes) alike - will turn up, and if so, as a result the club can pay off the last part of its CVA three months early. Not only that, but also clear what are only current debts, so that it can declare itself completely debt-free by the turn of the year.

"Although we have a ground grading already for this level, once the CVA is paid up, we will be looking to prepare for possible promotion over the next couple of seasons, and will be able to give Neil (Cugley) better support on the playing side. We want to prepare now, and to achieve a ground grading for Ryman Premier, we need to re-lay the walkways and areas surrounding the pitch, and complete some other minor works.

"In anticipation the club has applied to the FA, supported by local MP Damian Collins, for a grant of a maximum of 50% of the estimated cost. Our part will cost around £6500 and with pledges already received of around £2000, towards our 50% we look forward to completing the work in the New Year."

For more on this story pick up the Folkestone & Hythe Express on Wednesday.