The club's overall debt has risen to a £118m, with just over half, £66m, owed to owner Vincent Tan.
But Cardiff chairman Mehmet Dalman said the club was on course to becoming debt free.
"We inherited a lot of debt and are in the process of paying off a lot of that debt," he told BBC Radio Wales Sport.
Mr Dalman said Malaysian billionaire owner Mr Tan had put up to £150m into the club since 2010.
Debt was being converted into shares and once the club was debt free, Mr Dalman said Cardiff City would continue to build and would be in a position to sign better players.
"It's so important we're a united club right across the board," he added.
He said fans should not be concerned at the scale of the figures mentioned.
Mr Dalman said: "I don't think they should be worried. We've gone into this with our eyes open. We want to get rid of the debt by converting to equity.
"That means Vincent Tan will own this club 98%. And it will have no debt.
"If we remain in the Premier League, debt will not exist and profit will begin to accumulate which means better players, better football and so on."
The accounts filed with Companies House show:
In the year ending 31 May 2013 the football club made operating loss of £30.9m, up from almost £13m the previous season.
Wages and salaries accounted for £27m, a jump from £18.5m the previous year.
Money owed amounts to £118m, with the largest part due to Mr Tan, the accounts suggest.
The news comes as Cardiff lost 2-0 to fellow strugglers West Ham despite the game being a home debut for new boss, Ole Gunnar Solskaer. That result saw the Welsh side slip into the relegation zone for the first time this season and continue a depresing run of league form that has seen them gain just three points from the last 33.