Andrew Jenkins gained 145,000 more shares in Carlisle United in the last financial year.

Documents filed at Companies House show the number of non-voting 'B' shares allocated to the long-standing Blues co-owner and chairman went up.

The figures appear in the latest confirmation statement for United's holding company, CUFC Holdings.

The increase points to existing debts that the club owed to Jenkins having been converted into shares by the chairman in the 2018-19 accounting period.

Carlisle would not initially elaborate on the figures when invited by the News & Star, saying that directors were instead likely to talk about the matter at Friday night's fans' forum.

United, though, did then issue a comment to us on the matter ahead of the forum.

Chief executive Nigel Clibbens said the £145,000 amount was the "final transaction" from the club's main shareholders converting £1.5m to "extinguish" all their personal debt.

Asked if this meant backers Edinburgh Woollen Mill had loaned an equivalent amount - Jenkins having in the past said he would convert his own loans to shares equivalent to any new money that came in - Clibbens said: "The three individual shareholders have been consistent since I arrived at the club in 2016, that they didn’t want any repayment of any loans they provided to the club.

"This has been reinstated and confirmed many times. That approach applied either while they were still at the club or connected with any succession and resulting change of shareholdings.

"At the same time, going back to the [Yahya Kirdi] discussion in 2016, their position was also to promise to swap debt pound for pound with new third party funds coming into the club.

"This has also continued to apply to new money loaned by them since 2016.

"More recently, as new third party funds has come into the club from EWM, shareholder debt has therefore fallen by a corresponding amount - as promised.

"This could only continue until the debt was extinguished; at 30 June 2018 only £135,000 remained. Put simply this went up to £145,000 and then was swapped for non-voting B shares.

"Now with this process complete a total of £1.5m of debt has been extinguished in this way since June 2017. Since the funding in 18/19 was more than £145,000, the excess increases club debt."

The confirmation statement showed that Jenkins' number of B Shares rose from 1,198,000 to 1,343,000.

All other shareholdings - those of co-owners John Nixon and Steven Pattison, supporters' trust CUOSC and director Lord Clark - are unchanged.

Clibbens said in November that the removal of debt to owners had "removed another overhang from the past, and that should be seen as a good move for the club for the future."

He said that those debts had never accrued any interest, had no repayment dates and had no tax burden on the club.

"In effect this funding always had the characteristics of equity and this is now the legal position too," he said.

The filing of the confirmation statement suggests United's 2018-19 accounts are likely to appear in the coming weeks.

Last year's annual report and financial statements were filed at Companies House on March 28.

The latest accounts will show by how much United's borrowings from backers Edinburgh Woollen Mill increased in the 2018-19 period.

Their loans stood at £1.31m by June 30, 2018.

Clibbens added: "The EWM balance at 30 June 2019 will be disclosed in that year end’s accounts. It hasn’t changed since."

The director added that the B shares held by the club's owners are non-voting shares which have not duluted the voting rights of supporters' trust CUOSC's 25.4 per cent stake.

Clibbens said the B shares have no "real tangible value" to the individuals who hold them.

He added: "In many clubs an individual shareholder putting in new cash would have only done so only if matched equally by others [in particular the fans trust] or if accompanied by increases in real value, like control to match that cash going in or more voting power [meaning a voting dilution by the trust].

"It is creditable and worth recording that this never was a condition of their putting money into the club.

"In taking that approach, the shareholders have ensured the club has always received essential funding whenever it’s been required without shareholder dispute or blockage and CUOSC has maintained its voting power [and the rights that brings] despite not match-funding the club.

"All the shareholders working together putting the club first. This has been very important for the stability of the club, firstly by allowing the club to operate but also in building mutual trust and understanding between the shareholders for the benefit of the club.

"Critically building this trust has been essential for the future of the club, especially succession.  This approach has allowed us to further simplify our funding arrangements, control our debt position and have a unified approach to how the club achieves succession.

"All are pieces in the jigsaw of making the club a more investable proposition, which is fundamental to getting the club in a shape where someone new wants it and can come into the club in an orderly way.

"I am pleased this approach has been embraced by all the shareholders and the club has avoided shareholder issues suffered in the past."