Cardiff City made a loss of £1.05m for the year up to 31 May, 2008, according to their latest accounts.

That loss comes despite reaching last season's FA Cup final and the figure would have been worse had the club not received £5.5m in transfers that year.

Chairman Peter Ridsdale notes in the report that reaching Wembley resulted in the club's turnover increasing by 20% to £12.7m.

But attendances at Ninian Park were down by 8%.

The accounts also reveal that Ridsdale took a pay cut as the income paid to WH Sport - his consultancy firm - fell from just over £1m in the previous year to £325,000.

The report notes the club's highest-paid director earned £204,000 during the year, and that at the end of the year, director Steve Borley was owed more than £300,000 on a loan made to the club.

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