Tony Bloom has stressed his determination to take Albion to the top flight – after the price of last season’s near miss was revealed.

The Seagulls have posted a shortfall of almost £25.9 million for the 2015-16 campaign.

That deficit is £15 million greater than the under-achieving previous season, largely because of players’ wages and transfer market activity.

The club’s total wage bill rose from £18.3 million to £24.1 million.

Their determination to hold on to their best players saw a profit of £6.3 million on player trading the previous season become a £2.6million outlay, a swing of almost £9 million.

Figures take into account transfer activity in the summer of 2015 and last January.

Bloom said he was pleased with the club’s efforts both then and in the most recent summer window.

And he re-iterated his desire to take the Seagulls to the elite of men’s and women’s football.

In his report to shareholders, the Albion chairman said: “Our increased losses result directly from an ongoing and growing investment in our playing squad and Chris (Hughton, manager), Paul Winstanley (head of recruitment), Paul Barber (chief executive) and I are very pleased with the squad.

“Furthermore on the back of last season, we wanted to retain our key players, and our decision not to cash-in key assets has seen player trading go from a profit to a loss compared with the previous season, when we sold Leo Ulloa and Will Buckley.

“Every year I have pointed out that ambitions are rarely realised overnight.

“The club has made steady and continued progress and, in particular, I have been delighted with our player trading in the past three windows, two of which are reflected in these accounts.

“We have had another very good start to the current campaign and hope that we can make that final step this season.”

Albion aim to go top of the Championship, and eight points clear of third place, for at least a few hours as they host Leeds tomorrow.

Bloom added: “I make no apology for repeating what I said in last season’s Chairman’s Statement.

“Our ambition remains for the club’s teams, both men and women, to play at the highest level possible.

“As chairman (and a lifelong supporter of the club) I will do everything I possibly can to achieve that and I remain fully commuted to that goal.”

Albion confirmed they remained within Financial Fair Play limits.

Despite improved results on the pitch, gate income dropped £400,000 to £9.4m last term, due partly to a lack of home cup ties.

That figure also underlines how fans stuck with the team during 2014-15.

But central revenue, which includes TV money, was up £1 million to £5.5 million.

In a statement, Albion described the increases in losses as “significant” and said the figures underlined Bloom’s “ongoing commitment to the club and in particular the ambition to reach the Premier League”.