Morecambe FC made a loss of £445,465 last season according to the club’s official accounts.
The figure for the 12 months up until the end of May 2014 is down nearly £350,000 from £793,776 for the previous year.
According to the report the club are looking to be in a position to break even in April 2016 as part of a three-year plan outlined in April 2013.
It also states loans from directors, particularly chairman Peter McGuigan, are being used to maintain the cash flow of the business.
Staff and player wages went down from £1,799,949 in 2013 to £1,678,884 in 2014 despite the club employing six more people, 76.
The 2013-2014 season saw the Shrimps host televised cup ties against Wolves and Newcastle as they finished 18th in League 2.