David Moyes and his coaching staff were paid a total of £5.2m by Manchester United on leaving the club last season, according to the latest accounts published by the 20-times champions.

While Moyes was sacked in April by United and was followed by the majority of his backroom team, a statement headed Exceptional Items in the figures disclosed by the club said: “Exceptional items for the year were £5.2m, primarily related to compensation payments on loss of office to the former manager and certain members of the coaching staff. Exceptional items for the prior year were £6.2m.”

The accounts, for the fourth quarter of 2014 and full year, also announced: “Commercial revenues increased 24.1% for the year to a record £189.3m – 43.7% of total revenue.”

Moyes was replaced by Louis Van Gaal in the summer yet despite the Dutchman so far failing to win any of his opening four matches, with United claiming only two points from three league games, the executive vice-chairman Ed Woodward, remains confident.

He said: “With Louis van Gaal at the helm as manager, and the recent signing of some of the world’s leading players to further strengthen our squad, we are very excited about the future and believe it’s the start of a new chapter in the club’s history.

“Louis’s footballing philosophy fits very well with Manchester United and he has an impressive track record of success throughout his career, winning league titles with every club he has managed.”

Though the club suffered a difficult time on the pitch last season it still reported a record annual revenue of £433.2m and a £23.9m profit for 2013-14.

The figures do not include any financial losses incurred from failing to qualify for Europe for this season.