Hearts' total debt has been revealed to be almost an astonishing £29million, according to a report by the club's administrators BDO.

More than half of the debt is owed to Ukio Bankas, whose administrator this week declared the ongoing bids for the club as unacceptable.

The insolvent Lithuanian bank, which owns almost 30% of the club and is owed £15.5m, holds a floating charge over Tynecastle Stadium, giving it the power over a Company Voluntary Arrangement.

BDO, which announced an initial meeting of creditors on August 12, outlined the club's debt in its "statement of administrator's proposals", which was sent to those owed money by the club and filed with Companies House.

Trade and expense creditors are owed almost £1.2m, non-football employees are due £58,500 and Her Majesty's Revenue and Customs is short of almost £1.9m.

Hearts last season secured a deal to pay a £1.6m tax debt over three years and the first instalment was thought to have been paid.

Major shareholder UBIG, which is also insolvent, is owed £8.2m but a further £1.2m is owed to a British Virgin Islands-based company called Milson Capital Corp in respect of money loaned to pay wages.

UBIG, which like Ukio Bankas was once among Vladimir Romanov's business interests, is also insolvent after ending its subsidies to the club before last year.

Football debt is listed at £535,000 with most of this owed to players over wage arrears along with the balance of money owed to redundant players under the terms of their contracts.

Some clubs are also owed money, notably Liverpool who are due almost £50,000 after loaning Danny Wilson and Michael Ngoo to Hearts last year.

The likes of Stenhousemuir, Ayr United and Musselburgh Athletic are owed smaller sums.