The club's latest accounts, which were released by Companies House yesterday, revealed that Liverpool paid £36.5 million in interest on their debts in the financial year ending 31st July 2008.
Despite the announcement of a record turnover of £159.1 million and a pre-tax profit of £30.2 million, the club's net debt almost doubled from £43.9 million to £86 million. Kop Football (Holdings) Ltd made a pre-tax loss of £42.6 million, with its net debt rising to £299.5 million.
According to KPMG: "The current economic conditions have had a significant impact upon world credit markets and, accordingly, raising finance in this environment is challenging.
"Whilst the directors believe the going concern basis is appropriate, the fact that facilities are not currently in place to fund all projected cash requirements over the next 12 months indicates the existence of a material uncertainty, which may cast significant doubt upon the group's ability to continue as a going concern, and it may therefore be unable to realise assets and discharge liabilities in the ordinary course of business.
"Nevertheless, after making full inquiries and considering the uncertainties described above, the directors have a reasonable expectation that the group will secure adequate resources to enable the group to continue in operational existence for the foreseeable future."
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