World football governing body FIFA on Friday declared a record income of £3.8 billion between 2010 and 2014, with 2014 alone accounting for about £1.37 billion in revenue.

The Swiss based organisation also made £225 million in profits over the four years under consideration while its reserves rose to £1 billion.

A statement in the annual financial report attributed the commercial power of the FIFA World Cup for the record numbers declared.

Expenses also rose however, as about £3.5 billion was spent in the period under review and £1.3 billion in 2014 alone; with World Cup bonuses to member federations and confederations as well as buying a four-star hotel near the world soccer museum site in Zurich forming part of the expenses.

Executive committee stipends and senior management bonuses as well as the Goal Project also made up for some of the expenses incurred by FIFA.

As it turned out, a slight amount was spent more on bonuses to FIFA executives than on the developmental Goal Project while FIFA President Joseph Sepp Blatter’s salary and bonus during the period was not revealed as usual.

Meanwhile, FIFA also announced that a compensation package totalling £284 million would be paid to clubs whose players take part in the 2018 and 2022 World Cups in Russia and Qatar respectively.

The compensation package, which sums to £142 million per World Cup, is up almost £100m from the £47 million package paid to clubs after the 2014 World Cup in Brazil.