Aldershot Town Football Club has announced it has exited its Company Voluntary Arrangement (CVA) two years ahead of schedule.
Last year the club entered administration with debts of £1.4m, five days after relegation from the Football League.
Carl Jackson and Paul Goddard of Quantuma Restructuring were appointed as joint administrators in May 2013, before selling the club out of administration in in August to a consortium led by former chairman Shahid Azeem, and including former board members John Leppard, Tony Knights and Russ Howell.
A statement on the club’s website said: “The Board took the decision to clear the old club’s debts at the earliest opportunity, believing it was the right thing to do for our creditors, many of whom we recognise are long-term supporters of the club.
“This brings to a close what has been a challenging Administration process, with a need to satisfy Conference rules to ensure probity in the game.
“We can also report that, as forecast in January, we have also delivered a modest profit in our first full year of trading. We hope these positive developments provide reassurance for staff, supporters and sponsors as we aim to steer our club towards long-term sustainability.
“The club will hold its Shareholders AGM in September to review this result.”
Despite suffering a 10 point deduction as a penalty for entering administration, Aldershot finished 19th in the Conference League table in the 2013/2014 season.