Just to clarify, VAT is a tax paid at each stage of a production/service or process. It is payable whether the company makes a profit or not. The only way a registered business/company can avoid paying VAT is if the amount they have reclaimed on purchases, exceeds the amount they have received. This will hardly ever be the case with a fitba' club. Football clubs will also pay employers national insurance contributions and local business rates (both taxation) regardless of whether they make a profit.
Out of the £260 adult season ticket fee, £43.33 goes straight to HMRC in VAT regardless of profit.