Welling Utd are docked points over financial misconduct
Welling United have been deducted five points by the Football Conference following a misconduct hearing.
They have also been given a suspended £5,000 fine for providing inaccurate information to the league in connection with their outstanding debts.
Co-owner Barrie Hobbins said they had based their accounts on promised investment that did not materialise.
Due to the lack of funds, the club then fell behind on their HM Revenue and Customs bill.
The Wings, who play in Blue Square Bet South, owed nearly £90,000 to HMRC.
So far, they have raised £45,000 and were given more time to pay it at a High Court hearing last month.
Confirming the club's five-point penalty and £5,000 fine, which is suspended for two years, the Football Conference issued a statement on Friday evening stating that Welling have the right of appeal and that "no alteration to the Blue Square Bet South table will be made until the Appeal procedure is exhausted".
The Conference have also allowed the Wings to re-register Loick Pires and Lee Clarke and have released the £8,000 solidarity money to help the Wings pay the HMRC petition debt.
"We are obviously hugely disappointed to receive a points deduction of any number, but need a period of reflection to take advice from our lawyers," said Hobbins.
"We are sorry that we got ourselves into this position, despite our best intentions at all times.
"As soon as it became evident that the promised investment would not materialise, we made the Football Conference fully aware of the position and admitted the charges that were laid against us.
"The financial plight of the club is assisted by the reduction in the petition debt and we must now all focus our efforts on ensuring we are in a position to secure the club's survival before 1 December 2010.
"Once again, we would like to thank the fabulous efforts of our supporters, players and all connected to the club during this difficult period."
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