GUTTED is not a word that I particularly like using. But that is exactly how I felt at 4.15pm last Saturday when Northampton's second goal went in.

FA Cup matches bring a sense of excitement that league games simply don't. League defeats are easy to accept, but FA Cup losses extremely difficult.

The manner of the defeat was unacceptable. It was certainly a very winnable game, and we should have gone in with a half time lead. As it happened, we completely capitulated in the second half. Northampton got through our midfield and defence far too easily and Wycombe heads dropped.

After the excellent cup run in 2001 (and don't you still get Goosebumps just thinking about Roy Essandoh and his lasp gasp header at Leicester?), our luck in the cup seems to have run out.

There is also the financial implication of cup failure.

With £40,000 plus TV money plus gate receipts up for grabs to teams qualifying for the FA Cup 4th Round, this could hit us hard.

The financial situation at the club is rather disturbing. The PLC recently sent copies of its directors' report and annual accounts to its shareholders, including the Supporters Trust. The club reported a loss of £926,040 for the 11-month period from conversion to a PLC to 30th June 2005. Additionally net assets of the club were reduced to £106,062.

Please see the news page of the Trust's website at www.wwst.org for further commentary on these numbers and the Trust's views on the resolutions that the PLC wish to pass at the AGM. The resolutions may be more contentious than realised by most fans.

So not the best of weeks for the club, but we still find ourselves in second place and are now the only team in the Football League to remain unbeaten, following Chelsea's defeat to Manchester United.

It will be a tough, long trip to Darlington on Saturday but I am confident that we can continue our great record in the league.

Clearly promotion is the only acceptable outcome now. John Gorman claimed that it might be a blessing in disguise to go out the cup so early, as Wycombe can now concentrate on the league (as the standard clich goes!). Actions speak louder than words, though.

Ian Baker is on the Board of Wycombe Wanderers Supporters Trust. For further details about the Trust and how to join please see www.wwst.org.