Carlisle United made a profit of £40,434 last season, the club's latest accounts have shown.

That was the overall post-tax profit made at Brunton Park in a campaign that saw two major player sales, two lucrative cup ties and the devastating Storm Desmond floods.

Details of the audited 2015/16 accounts were revealed in a statement by the club this morning.

The Blues reported a £1.35m increase in turnover to £4.41m.

Commercial income, ticket sales, TV and prize money were all up, although "associated costs" increased.

United said their extra income allowed them to increase spending on player wages, loan fees, travel and accommodation "far beyond what was otherwise affordable".

The club quoted EFL data which showed the club were the eighth biggest spenders on players in League Two in 2015/16, a season they finished 10th.

United say their net assets increased to £5.22m, from £3.56m in 2014/15

The post-flood work at Brunton Park, meanwhile, "resulted in an increase in the value of freehold property of £1.62m".

United's statement on their accounts does not refer to the current levels of debt to co-owner Andrew Jenkins, nor is there any mention of investment talks or the recent Edinburgh Woollen Mill deal.

The Blues filed their accounts last week ahead of Friday's deadline, claiming the loss of paper accounting records after the December 2015 floods was the reason they were filed later than in previous seasons.

In their statement United said the floods caused a "major impact...completely stopping the business while the administration offices, equipment, pitch and some hospitality areas were submerged and, as a result, we were unable to carry on with the business from our home at Brunton Park.

"Three home games were played in Preston, Blackburn and Blackpool and we were very grateful for the help and support of these football clubs.

"The football side of the club operated from our training facility at Creighton Rugby Club and the administration, sales and management operated out of one room in the Pioneer Food service offices, while the ticketing and retail operations moved to a unit in the Cumberland Building Society, which was generously donated.

"We are extremely grateful for all the help and assistance offered to the Club from local businesses and supporters during that time.

"The effort, dedication and support of all staff was fantastic as they pulled the club through some of its ‘darkest hours’. With everyone working together, and with the support of fans, we were able to relay the pitch and provide playing facilities to get the business moving again by Saturday January 23, 2016, just seven weeks later, which was an unbelievable achievement. Thank you to everyone.

"The club’s primary books and records suffered severe damage in the flood. This meant a reconstruction was required which has taken some time and has been both difficult and time consuming for our finance team. This naturally delayed the accounts preparation, audit and filing.

"It took another nine months to complete full restoration work at the stadium and, in doing so, we have moved administration, ticketing and accounting operations to a first floor location [in the Pioneer Stand] to give some flood resilience for the future.

"As a result of the changes arising from the flood we have revalued the Club’s properties. We are pleased to report this revaluation resulted in an increase in the value of freehold property of £1.62m."

Carlisle say their pre-tax operating profit of £52,881 was mainly due to increased "football fortune".

This came from cup runs in both the EFL Cup and FA Cup that saw games against Liverpool and Everton produce six-figure receipts, and also from player sales such as the departures of home-grown players Brad Potts and Kyle Dempsey.

"As a result, total turnover increased by £1.35m to £4.41m as commercial income, ticket sales, TV and prize money all went up, though associated costs increased," United said.

"We are pleased to report recurring turnover, excluding football fortune, also increased by 10 per cent.

"In addition, and importantly, the overall recurring financial contribution made by the club’s business activities increased. It is this that determines, in large part, the ongoing level of funds available for spending on player costs and other football expenses which the club can afford without relying on cup runs, player sales or other one-off funding.

"It is a key objective to grow this to improve the viability and sustainability of the club.

"The football fortune and improved recurring financial contribution together allowed us to increase football spending in 2015/16 on wages and salaries, player loan fees, travel and accommodation far beyond what was otherwise affordable from the club’s own resources.

"In 15/16, EFL data shows the club spent 96.1 per cent of its available salary cap and ranked eighth overall in League Two for total spending on player costs."

United said a provisional date of Wednesday, May 31 has been set for their AGM, with notices to be issued shortly.