Rovers' parent company, Venky's London Limited, has reported a £1.8million profit for the year ending March 31, 2024.

Player sales brought in £22.9m, with Adam Wharton heading to Crystal Palace for a club record fee. Thomas Kaminski and Ash Phillips were also sold to Luton and Tottenham respectively.

Without those sales, Rovers would have been looking at a similar story to last year when they reported a loss of £21million.

Developing players through the Academy remains “key to the long term success of the club” along with driving commercial revenues.

The latest accounts also highlight Venky's problems in India, which have been well documented since the start of last season.

The ongoing legal matter involves Venkateshwara Hatcheries Private Limited and the Directorate of Enforcement in India, which placed a temporary restriction on sending funds to all overseas subsidiaries, including Venky’s London Limited who own the football club.

The report confirmed that payments of £3.5m and £11m - in June 2023 and October 2023 respectively - were permitted to the club following successful petitions, and that the directors believe these have established a precedent for future requests being granted.

The court hearing has been delayed more than once this year but was due to sit imminently at the time of writing. Earlier this year, chief executive Steve Waggott confirmed that Venky’s could continue to fund Rovers without restrictions in India ‘on the basis the owners match every £ of funding with a personal financial guarantee’.

The review states that, if the court does not permit the release of future funds, there will be a “significant impact on BRFC’s ability to continue to trade and therefore on this group remaining a going concern”.

Looking at the numbers in more detail, turnover has increased from £19.9m to £22.7m - with sponsorship rising by £1m, ticket sales by £0.4m and retail sales by £0.2m.

Rovers had another decent year in the cup competitions, reaching the last 16 of the Carabao Cup and fifth round of the FA Cup, which contributed to the rise in ticket sales.

There was a slight increase in wages from £25.8m to £26m but the wage to turnover ratio dropped from 130 per cent to 115 per cent. Although heading in the right direction, this percentage is still on the high side given UEFA's recommendation is around 70, for example.

Average league attendances rose from 14,816 to 15,584 despite Rovers finding themselves in a relegation battle, ultimately securing safety on the final day following victory at champions Leicester.

Rovers’ debt currently stands at £134m, with a further £11m converted into shares over the past year. The club is fully compliant with Financial Fair Play regulations.