In looking at previous year's accounts there has been some in depth analysis of assets and liabilities for Falkirk. This has been simplified for the 2009 season, but can still be seen here, if required.
The club had shared the ownership of Westfield with the council with the plan to develop the area and make money from it, and therefore extend the stadium. The club and the council have now recognised that this isn't really feasible and now the club own the ground. There are number of accounting niceties that are in the accounts for 2009 that are beyond the scope of this site.
The graph below shows the net debt of the club, and still shows that there isn't any, that the club has money in the bank. This is an excellent position to be in, however the likelihood of another financial loss this season means it may not be so rosy in a year's time.
The club has £374k in the bank, but it also has loans, from its directors of £310k.
