Back then Hearts had entered administration but three years later, under the leadership of owner Ann Budge, the club appears to be back in rude health.
A far cry from the wreck and ruin left by the now disgraced regime of Vladimir Romanov.
Last year's figures had seen the club make a loss of £888,000 - although there were encouraging signs that the club would be making some headway in reducing that figure.
The new accounts show they have done that and then some - although the new era of profitability will more than likely not see manager Robbie Neilson be allowed free reign to splash the cash.
Prudence has been the watchword since Budge arrived and given what happened under Romanov and Chris Robinson before him, ensuring that the club exists will more than likely be her top priority.
Of the newly released accounts a source in London's financial square mile said:
"My impression from reading these accounts is that this is a well-run club which looks to be self-financing and more importantly is receiving great financial support from the fans.
"A number of interesting points to highlight are as follows. Turnover increased by over 40% to £9.9 m but staff costs increased by £1.6m with employee numbers growing by almost 20% - however these increases are funded by revenue increase.
"They made an operating profit of £800,000 vs a loss of £700,000 last year, however this was made up by making a gain on sale of players of £1million mainly from Osman Sow.
"(One) warning would be that they need to sell players to break even each year. Their cash flow was positive but £1.5m received from player transfers.
"The company met the criteria for UEFA financial fair play and have mentioned this.
"What is very striking is that the fans via the foundation are investing in the club. They have written off £4m in investments so far. (This is shown in reserves).
"They also have security over the assets of the club as does Ann Budge with her £2.4million loan.
She received £172,000 interest on £2.4million loan but has agreed with fans to waive it.
"This charge going forward because of fans attempts to repay this after the construction of the new stand.
"Working capital is healthy at £1.9million versus £500,000 last year, but it looks like Hearts benefit from some wealthy benefactors and association with Save The Children fund, and also from the fans foundation.
"In summary. Hearts are a well-run club which is heavily dependent on player trading to break even and also hugely reliant on fans foundation to fund the ground investment and working capital of the club.
"It looks as if this policy continues and that the fan funding continues through leaner times, then the club can operate on a relatively solid financial footing. It seems to me that the club is good at cutting its cloth."
Next year's figures will also been keenly anticipated to see how the club has managed the costs associated with building the new stand.
Although with an increased capacity and new facilities for match-day hospitality and receipts from other commercial events, it will more than likely be 2018 before it is seen how the new stand pays for itself.
Also of interest next year will be money made from player sales - should there be any.
The club received an unexpected bonus with Chinese side Henan Jianye paying a seven-figure sum for Osman Sow when they expected to lose him for nothing on a free transfer at the end of last season.
If players are to leave by June 2017, it will be interesting to see if they go for a similar fee to Sow's or figures that are considerably lower.
However, this may be an issue which may not be as great as it would have been under previous Hearts regimes as the accounts show that the club is ticking over nicely in other areas.
Hearts annual general meeting will be held in the Gorgie Suite at Tynecastle Park on Tuesday December 20th with an 11am start.