Despite their relegation, the U's remained a full-time club while playing in the Football Conference, as they sold their Layer Road ground to the Colchester Borough Council to clear the club's debts. The club finished the season as runners-up to Barnet during their first season outside of the Football League, but, under the stewardship of player-manager Roy McDonough, the U's won the league the following season on goal difference over bitter rivals Wycombe Wanderers. In addition to earning a swift return to League football, the club also won the FA Trophy in 1992.