The UK Independence Party ended last year more than £850,000 in deficit, according to its latest accounts that show how the party’s finances dwindled after the 2015 election and in the run-up to the referendum campaign.

The party spent £6.7m in the year, more than its £5.8m overall income, as the cost of the general election and a 4.5pc fall in membership numbers took its toll.

Ukip held onto one parliamentary seat in May 2015, as Douglas Carswell kept the constituency of Clacton. Mark Reckless lost his seat to the Conservatives, the party he left to join Ukip.

Donations overall fell 18pc to £4.4m last year and the party booked no revenue from its online shop, which generated £119,000 from selling Ukip merchandise in 2014, after it was hived off into a separate commercial entity.