SWINDON Town's debt fell by just under £1.4 million again in the year to May 2017, newly-published accounts revealed today.

Previous figures which covered the period between May 2015 and May 2016, showed that club supremo Lee Power had slashed the club’s debt by more than £1.5million.

Although that amount dipped slightly between May 2016 and last May, the downward trend continued as the club's profit and loss account went from just under £11.2 million to just under £9.8 million.

Meanwhile, the club's intangible (such as players' registrations) and tangible assets (such as land and buildings and plant and machinery) grew from £57,094 to £139,131, having fallen substantially by half in the previous recorded year.

Net liabilities also fell from just under £5 million to just over £3.5 million during the course of the year to May 2017.

The unaudited accounts and financial statement revealed amounts owed to trade creditors falling due within one year had climbed from just under £675,000 to nearly £936,000, but that the amount owed in taxation and social security had slumped from more than £175,000 to just under £65,000.

The club's 'non-current loans and borrowings' were made up of £2 million in 'unsecured debentures' and more than £2.3 million in 'other borrowings.'

Transactions with the director loan account of Power increased from £644, 645 to £1,438,305 between the start of June 2016 and end of May last year, having fallen by nearly £1.5 million in the previous period.

The statements cover the period of last season's relegation from League One, although any impact of that demotion is unlikely to show up until next year's figures.

However, transfers, including the sale of striker Nicky Ajose to Charlton Athletic in the summer of 2016 are included in these accounts.

The Advertiser has asked Swindon Town for a comment on the released financial statements.