Administration-threatened Torquay United lost almost £100,000 a month last season when they were relegated from the National League.
Figures lodged with Companies House show the Gulls lost £1,163,124 in the year to 30 June 2023.
Owner Clarke Osborne’s loans to the club rose by just under £1m to £5.28m
In February, Osborne said he was intending to appoint administrators as he could no longer fund the club, now in National League South.
The accounts also show Torquay owe almost £7m in total to various creditors.
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They were docked 10 points last month following Osborne’s announcement and the full-time Gulls are just four points and two places above the relegation zone.
Last week the Torquay United Supports Trust (TUST) announced they had joined a bid with a group of local business people to buy the club.
TUST aim to raise £150,000 to join life-long fan and season-ticket holder Michael Westcott who is leading the investor group trying to take control at Plainmoor.
The group also includes fellow fans Mark Bowes-Cavanagh, Simon Robinson, Andrew Beaulieu and Tom Allen.
“At the time of approval of these financial statements, the directors are aware that this financial support will not continue into the 2024/25 football season,” Osborne wrote in a statement accompanying the accounts.
“The club has announced the intention to appoint Administrators, however, all possible options are being explored in order to secure the company’s future and the directors consider there is a very real prospect that a viable solution may be found to allow the company to continue as a going concern.”
