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Newcastle recently announced a record annual profit of £18.7m for 2013-14

Newcastle fans are planning to boycott Sunday's home match against Tottenham as it was revealed the club had more than £34m in their bank account at the end of the last financial year.

Newcastle recently announced a record annual profit of £18.7m for 2013-14.

But many fans have criticised the ambition of owner Mike Ashley.

"A lot of fans would ask why was a significant portion of that money not spent on team strengthening?" said Newcastle fanzine editor Mark Jensen.

"The idea of a boycott has been building for a long time and you can't blame the fans, and I'm all in favour of it.

"The frustrating thing for them is the money is there but the club won't spend it."

The protest, organised by a group opposed to Ashley's regime and backed by the Newcastle United Supporters' Trust, was already planned before the full accounts were published on Wednesday.

NUST chairman Norman Watson told BBC Sport that he expected "15,000 or 16,000" fans to take part in the boycott.

Newcastle are aiming to end a five-match losing streak when they host Spurs at St James' Park. The Magpies are 13th in the Premier League, nine points clear of the relegation zone with six matches left to play.

The Tyneside club announced the record annual profit - the fourth consecutive financial year they have made money - last month.

But the full accounts registered with Companies House this week show £38.6m was transferred into Newcastle's bank account as a cash-flow sum - paying off a £4.5m overdraft and leaving £34.1m available.

During the 2013-14 financial year, the club signed three players - France striker Loic Remy and Netherlands attacker Luuk de Jong on loan, along with teenage French midfielder Olivier Kemen for an undisclosed fee.

In October 2013, hundreds of Newcastle fans marched through the city to protest against the way Ashley was running the club.