The accounts, which have been seen by Press Association Sport, cover the period between April 1 2012 and March 31 2013, during which time Rovers were relegated from the top flight after 11 seasons.
The overall losses totalled £27,120,679 and showed significant decreases in gate receipts, sponsorship and broadcasting rights which laid bare the effect of demotion from the Premier League.
Venky's London Limited owns 99.99% of Blackburn and the accounts noted the need for the club to both comply with future Financial Fair Play regulations while also doing their utmost to return to the Premier League.
Last season Rovers just managed to stave off relegation under four different managers, with Steve Kean resigning, both Henning Berg and Michael Appleton swiftly sacked before Gary Bowyer - now at the helm on a permanent basis - assumed a caretaker's role.
The previous summer they also broke their transfer record to acquire striker Jordan Rhodes from Huddersfield in a deal worth up to £8million.
Rovers' accounts are due be published before the end of the year but this news comes in the same month it was revealed the club spent £3.5million on agents' fees last season, more than double any other club in the Championship.