Margate’s accounts show a significant six-figure loss for the past 12 months.

The club’s financial statements, published by Companies House, show a loss of £260,099 for Margate Football Club Limited during the financial year to May 31, 2023.

That period covers the 2022/23 season which saw Margate finish 17th in Isthmian Premier and win the Kent Senior Cup on penalties against Chatham at Priestfield in May 2023.

The accounts also disclose details about related party transactions. They state “Margate Football Club (MFC) has received loans from its holding company totalling £144,340 (2022 - £144,340). This company ceased to be the holding company on 22 April 2023.

“From 22 April 2023, there is a new holding company which is under the control of a director of MFC. There are no loans between MFC and this company.

“MFC has received loans from an individual that holds a participating interest in MFC, and his overseas company. The total loans made on an interest free basis were £1,593,805 (2022 - £1,595, 296). The maximum outstanding during the year was £1,595,296.

“This individual also controls a company that is owed £621,425 by MFC (2022 £73,699) on an interest free basis. The maximum outstanding during the year was £631,234.”

According to Companies House, Waterfront Property Development Ltd owns more than 50 per cent but less than 75 per cent of the club since April 2022. Evgueni Dogo owns more than 25 per cent but less than 50 per cent.

Margate chairman Ricky Owen is also the sole director of Waterfront Property Development Ltd.