SOUTHEND United bosses remain confident for the future, even though the club’s latest accounts shows it loss more than £2million in 12 months.

From August 2008 to July 2009 the club reported a loss of £2,039,437. This is £386,227 less than the previous year.

It also recorded total debts of £7,793,690, a jump of more than £1.3million on the previous year.

Despite the bleak financial picture, a report on its performance by Nigel Brunning, club financial controller, written last month and filed with the accounts, remains positive. It states: “Despite being relegated to League Two, the club is confident it has solid building blocks in place for future success and these will improve the performance of the club in the coming years.”

An independent audit, which must be done by law, carried out by HLB Vantis Audit said there was doubt over whether the club could continue to function. It said: “The directors are confident the parent company South Eastern Leisure UK will continue to provide the necessary funds.

“However, there can be no certainty in these matters, which may cast doubt on the company’s ability to continue as a going concern.”

The latest accounts, up to July 31 2009, just filed with Companies House, cover the 12-month period just before HM Revenue and Customs made two unsuccessful bids to wind-up the club, because of tax debts totalling more than £2million.

Blues avoided both wind-up attempts after supermarket Sainsbury’s paid their debts.

The company is negotiating to buy Roots Hall when the club moves to Fossetts Farm.

The latest accounts detail how individual directors have continued to put their own money into the limited company for the past two years.

Club chairman Ron Martin personally guaranteed £400,000 of the club’s debts in 2008/09.

Nearly £2million of the total debt was owed to sister companies run by club chairman Ron Martin plus the individual directors.

Mr Martin vowed club losses would decrease over coming seasons.

He said: “The losses will be less in 2010 and even less in 2011.

“I have guaranteed every single penny of debt either myself or through my companies.”