BURNLEY saw turnover fall by more than £38million as a result of relegation from the Premier League to the Championship, the club's 2015/16 accounts reveal.

That was the major contributing factor to seeing a £30.1million profit from 2014/15 turn into a £3.7million loss the following year.

But it was another successful season at Turf Moor as the Clarets secured promotion back to the top flight, guaranteeing them another year of Premier League riches and setting them up for a big profit for 2016/17 when those accounts are released in a year's time.

The drop in turnover was to be expected and came about mostly through a reduction in TV revenue, from £66.5million in 14/15 to £29.6million in 15/16, taking overall turnover from £78.7million to £40million.

With Burnley back in the Premier League this season they will see TV revenue increase dramatically and if they secure survival the Clarets will earn around £100million from the TV deal.

Burnley did make a profit of almost £12million from player sales in the Championship season as they saw Danny Ings depart for Liverpool, Kieran Trippier head to Tottenham and Jason Shackell sign for Derby County.

In terms of other income Burnley saw matchday revenue fall by just £1million from the Premier League campaign, with the drop in attendance offset by an increased number of games in the Championship, while catering sales actually went up slightly and commercial activities fell by £600,000.

The wage bill fell by just £2.2million as Burnley adapted from the Premier League to the Championship.

They paid out £29.3million in staffing costs in 14/15 and £27.1million in 15/16.

The overall loss was heavily influenced by bonuses paid out to players and playing staff of £11.3million for securing promotion back to the top flight.

This compares to promotion bonuses of £8million paid out when Burnley finished second in the Championship in 2013/14.

One area that saw a reduction in costs was the interest on loans to external companies and directors. After posting the £30.1million profit in 14/15 the board took the decision to repay all loans, making the club debt free. This has resulted in interest costs declining from £1.5million to £55,000 in the latest accounts.