"It's been a horrendous week to be honest with you. We hope to pick it up and move on in some shape or form in the future," added Mudge.
"We are hoping the club will come back at level five or level six, which is a few divisions below the Southern league.
"It will come with lots of big personnel changes, even my job is in jeopardy because we don't actually know the funding we are going to have for the club and what level we'll be at."
The Royalists boss went on to say that years of neglect and mismanagement were to blame for the club's demise.
"I suppose in hindsight the club could've been run better and run tighter but these things happen.
"I've been here since last June and we cut the wage bill considerably last summer, it's just year after year of neglect and letting things go really.
"You need to run a club like a business, the years of benefactors have gone," he said.
"All the money is in the top end of the game and the bottom end of the game is being strangled."
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