AT A time when the club’s annual accounts have revealed debts of more than £93m, Middlesbrough’s manager Gareth Southgate admits he has ‘more targets, than funds’ ahead of the January transfer window.

Southgate accepts that he will have to be frugal at the turn of the year if he wants to strengthen his squad, something which is required if Boro want to make serious inroads towards the Premier League’s top six.

Southgate is not complaining about, having known the intentions of chairman Steve Gibson to reduce the extensive spending that was carried out by predecessors Steve McClaren and Bryan Robson.

After last week’s accounts highlighted that £69m of the £93m debts for the year ending December 2007 are now owed to the Gibson- O’Neill Company Limited, there is a focus to ensure Southgate continues to operate within a tight budget.

After witnessing Middlesbrough record a goalless draw with Newcastle United on Saturday, he acknowledged the need to bolster his ranks, but also outlined the difficulties he faces if he wants to bring in new faces next month.

“We have certain targets, more targets than funds,”

said Southgate.

“We know the areas we would like to strengthen but we will have to be smart about how we do it.

“In the summer we spent a net £500,000 and that’s with taking £7m off the wage bill.

“I don’t see us making big inroads into either of those figures but we would like to strengthen if we can. We have one or two ideas about how to do that.

“If the fans don’t know about the wage bill I have spouted on enough about it.

That’s where we are. We have had an unbelievable recent history.

“If we accept where we are and how much hard work is needed from us as a group to progress we will have a chance.

“We will roll our sleeves up and have a go.

“But if we think we have a divine right to keep improving just because we have been in the league a long time and won the league cup, it won’t happen.”

While Middlesbrough lacked a cutting edge in the final third against the Magpies, their overall display was encouraging and once again highlighted the potential within the squad.

“I’m really pleased with what we have got,” said Southgate. “We could do with more seniority perhaps; more strength in depth in certain positions to push people and keep them on their toes.

“I can’t argue with what they are doing at the moment.

“We have said all along it is a slow process. We have to build in the right way. We feel all of the players are financial assets.

“We have growth within the current squad, with players like Didier Digard who can only improve with age, and David Wheater.

That is important for us. If they can learn as the season goes on we should be stronger.

“If we can strengthen that would be fantastic, but if we have to go with what we have got we could still have a very good season.”

Southgate’s lack of options is highlighted when injuries strike and he is satisfied that midfielder Gary O’Neil will be available soon.

O’Neil, an ever-present in the Premier League this season until missing Saturday with a hamstring problem, could return at Hull City next weekend.