Liverpool's financial position improved over the course of last season, as detailed in the clubs latest accounts for 2012-13.

The accounts have been submitted to companies house and are detailed further down in this post.

Direct comparisons with the previous set of accounts are made slightly trickier - the previous set of accounts only covered a 10 months period.  Liverpool did this to ensure that in future Liverpool's accounts would more closely follow the course of a football season.

The accounts revealed today cover the period 1st June 2012-31st May 2013.

Income

Total turnover moved through the £200M barrier - it was £206.1M (last years was £169M (over 10 months))

Of this

Media Revenue was £63.8M (last year £62.8M over 10 months)

- No significant change - although massive increases will have kicked in this season - due in next years accounts

Match day revenue was £44.6M (last year £42.4M)

- Liverpool managed to get another £2.2M out of match-going fans at Anfield - the reds did enjoy a number of Europa League fixtures during the course of the season.

Commercial revenue was £97.7M (last year £63.9M over 10 months)

- Again a difficult area to compare directly due to the date differences - but it is clear that Fenway Sports Group have increased the number and size of Liverpool's commercial deals - to the point that it is pushing towards making up 50% of LFC's turnover.

Expenses

Total expenses before exceptional costs was £213.1M (last year £176.5M over 10 months)

- Just as it is difficult to compare income, it is clear that expenses have not really risen significantly and most of the rise is accounted for by the increased length of the reporting period.

- Liverpool note costs of £1.4M paying off former employees.

- The reds paid £4.5M in interest - an equivalent amount to the season before.

- Liverpool reported a loss of £12.7M on the disposal of player registrations.  This is a relatively complex area of accounting, which basically refers to the value of sales and purchases of players next to an assigned value by accountants at the club.  This is likely to be an area to come under heavy scrutiny by UEFA Fair Play panels who could question any accounting trickery at football clubs.

Profit/Loss

Total loss before taxation was £49.8M.

Other figures

The club reported net debt had dropped to £69M (from £81M).

This was helped by a £46.8M injection from FSG into the business to clear a historic stadium loan facility.

In light of the annual £50M loss the board do not recommend the payment of a dividend to the clubs owners.

The club made charitable donations of £183,500 in the year.  This is equivalent to just under 0.01% of turnover.

LFC reduced the amount spent on the community department to £385,000 (down from £578,000 over 10 months).

LFC provided some forward guidance on transfers in this current season - expecting it to have altered the profit and loss account by £1M.

Speaking on the official website, Ian Ayre said:

"These results demonstrate that the financial health of the club continues to make good progress as we continue our journey to transform the club on and off the pitch.

"Over the past four or five years, revenue has been consistently increasing from around £170million in 2009 to over £200million today, and external debt has decreased significantly to less than £50million.

Our strong links remain with our existing partners, signing new deals with Standard Chartered, Garuda and Carlsberg, and we have recently announced five new partnerships which endorses the global appeal of the LFC brand.

"We continue to invest in our digital and TV platforms and recently announced nine new television partnerships, allowing millions of fans across the world to watch Liverpool games and receive exclusive content.

The Liverpool MD touched on the stadium project:

"We have also seen good progress being made regarding a proposed stadium expansion at Anfield. Any final decision continues to be based on certainty; however, since the partnership was established between Liverpool City Council, Your Housing Group and LFC only 16 months ago, we regard the progress as extremely positive.

LFC Accounts 2012-13

Liverpool FC Accounts 2012-13

LFC 2013 Accounts Submitted to Companies House