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REGISTERED NUMBER: 06302126 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

WIGAN SPORTING CLUB LIMITED

PREVIOUSLY KNOWN AS
LENAGAN INVESTMENTS LIMITED

WIGAN SPORTING CLUB LIMITED (REGISTERED NUMBER: 06302126)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WIGAN SPORTING CLUB LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTOR: B J Goodburn



SECRETARY: D J Moore



REGISTERED OFFICE: Robin Park Leisure Centre
Loire Drive
Wigan
Lancashire
WN5 0UH



REGISTERED NUMBER: 06302126 (England and Wales)



AUDITORS: Fairhurst Audit Services Ltd
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Barclays Bank PLC
1st Floor
3 Hardman Street
Spinningfields
Manchester
M3 3HF

WIGAN SPORTING CLUB LIMITED (REGISTERED NUMBER: 06302126)

STATEMENT OF FINANCIAL POSITION
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 74,667 74,667

CURRENT ASSETS
Debtors 5 9,495,469 7,502,760

CREDITORS
Amounts falling due within one year 6 6,768,186 6,983,293
NET CURRENT ASSETS 2,727,283 519,467
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,801,950

594,134

CAPITAL AND RESERVES
Called up share capital 2 1
Share premium 4,899,999 2,500,000
Retained earnings (2,098,051 ) (1,905,867 )
2,801,950 594,134

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





B J Goodburn - Director


WIGAN SPORTING CLUB LIMITED (REGISTERED NUMBER: 06302126)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Wigan Sporting Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company remains reliant upon the continued support, both financial and management, of the shareholder, Mike Danson, which has been confirmed for the foreseeable future. The loans from the shareholder are unsecured, interest free and have no fixed repayment terms.

Profit and loss and cash flow forecasts have been prepared which indicate that, whilst operating losses may continue in Wigan Rugby League Club Limited, working capital requirements will be met by additional loan funding from the company, which in turn will seek debt funding from the shareholder.

On this basis, the director believes the company has adequate resources to continue in operational existence for the foreseeable future and that it is therefore appropriate to prepare the financial statements on the going concern basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Fixed asset investments
Investments in subsidiaries are stated at cost less impairment.

Financial instruments
Short term other debtors and trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Related party loans and directors loan accounts have no stated interest rate, are payable on demand and are measured at the undiscounted amount due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

WIGAN SPORTING CLUB LIMITED (REGISTERED NUMBER: 06302126)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 74,667
NET BOOK VALUE
At 30 November 2023 74,667
At 30 November 2022 74,667

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:


Subsidiary

Principal Activity

% Holding
Direct/Indirect
Holding
Wigan Rugby League Club Limited Professional rugby league club 89% Direct


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 9,495,469 7,502,760

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Shareholder loans 2,718,040 806,120
Directors' current accounts 4,050,146 6,177,173
6,768,186 6,983,293

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John B S Fairhurst BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Fairhurst Audit Services Ltd

8. RELATED PARTY DISCLOSURES

Loan to subsidiary undertakings
During the year the company had transactions with Wigan Rugby League Club Limited as follows: loans paid of £2,126,170 (2022 - £1,446,004) and received of £133,461 (2022 - £193,436). At 30 November 2023 there is an amount of £9,495,469 (2022 - £7,502,760) owed by Wigan Rugby League Club Limited.

9. ULTIMATE CONTROLLING PARTY

During the year the ultimate controlling party was I F Lenagan, however, on 1 December 2023, M Danson became the ultimate controlling party of Wigan Sporting Club Limited.