Company Registration No. 11894512 (England and Wales)
Premier Rugby Holdco Limited
Financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
Premier Rugby Holdco Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
Premier Rugby Holdco Limited
Statement of financial position
As at 30 June 2024
30 June 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
200,000,000
200,000,000
Current assets
Debtors
6
15,348,500
14,291,360
Creditors: amounts falling due within one year
7
(19,727,005)
(19,726,810)
Net current liabilities
(4,378,505)
(5,435,450)
Total assets less current liabilities
195,621,495
194,564,550
Creditors: amounts falling due after more than one year
8
(101,798,112)
(104,065,856)
Net assets
93,823,383
90,498,694
Capital and reserves
Called up share capital
9
1,000,100
1,000,100
Share premium account
79,446,298
79,446,298
Profit and loss reserves
13,376,985
10,052,296
Total equity
93,823,383
90,498,694

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the year ended 30 June 2024 the company has taken the exemption from preparing consolidated accounts under section 400 of the Companies Act 2006.

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

The financial statements were approved by the board of directors and authorised for issue on 23 October 2024 and are signed on its behalf by:
Nicholas Clarry
Director
Company Registration No. 11894512
Premier Rugby Holdco Limited
Statement of changes in equity
For the year ended 30 June 2024
2
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2022
1,000,100
99,000,000
8,004,039
108,004,139
Year ended 30 June 2023:
Profit and total comprehensive income
-
-
2,048,257
2,048,257
Issue of share capital
9
-
0
172,500
-
172,500
Dividends
-
-
(19,726,202)
(19,726,202)
Reduction of shares
9
-
0
(19,726,202)
19,726,202
-
0
Balance at 30 June 2023
1,000,100
79,446,298
10,052,296
90,498,694
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
3,324,689
3,324,689
Balance at 30 June 2024
1,000,100
79,446,298
13,376,985
93,823,383
Premier Rugby Holdco Limited
Notes to the financial statements
For the year ended 30 June 2024
3
1
Accounting policies
Company information

Premier Rugby Holdco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Thomas House, 84 Eccleston Square, London, SW1V 1PX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. This company is a qualifying entity for the purposes of section 400, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The financial statements present information about the company as an individual entity and not about its group.

 

Premier Rugby Holdco Limited is a wholly owned subsidiary of Premier Rugby Holdings LLP and the results of Premier Rugby Holdco Limited are included in the consolidated financial statements of Premier Rugby Holdings LLP which are available from Thomas House, 84 Eccleston Square, London, SW1V 1PX.

1.2
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Premier Rugby Holdco Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
4
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

There are not considered to be any critical accounting judgements or estimations during the year.

Premier Rugby Holdco Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
5
3
Employees
The company has no employees.
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
200,000,000
200,000,000
5
Subsidiaries

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Premier Rugby Limited
England and Wales
Ordinary
100.00
-
Premiership Rugby Limited
England and Wales
Ordinary
100.00
-
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Premier Rugby Limited
(267,885)
9,537,635
Premiership Rugby Limited
1
-

The results disclosed in respect of Premier Rugby Limited and Premiership Rugby Limited are for the year ended 30 June 2024, the most recent financial statements prepared for each entity.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
15,348,500
14,291,360
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
19,727,005
19,726,810

 

Premier Rugby Holdco Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
6
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Loan notes
37,311,825
51,430,685
Interest payable on loan notes
64,486,287
52,635,171
101,798,112
104,065,856

The long-term loans are unsecured loan notes. Interest accrues at a rate of 12% and the loan notes are due for repayment in March 2031.

9
Called up share capital and share premium
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1,000,100,249,998 AB Ordinary shares of £0.000001 each
1,000,100
1,000,100
1 C Ordinary share of £0.000001 each
-
-
1 D Ordinary share of £0.000001 each
-
-
6,900 H Ordinary shares of £0.000001 each
-
-
1,000,100
1,000,100

The AB Ordinary shares carry dividend, return of capital and voting rights. The C and D shares carry dividend and return of capital rights. The H shares do not carry dividend, return of capital or voting rights but carry distribution rights should events specified in the Articles of Association occur.

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Neil Davies
Statutory Auditors:
Saffery LLP
Date of audit report:
7 November 2024
11
Parent company

The ultimate controlling party is Premier Rugby Holdings LLP, the accounts of which are publicly available at its registered office Thomas House, 84 Eccleston Square, London, SW1V 1PX.

Premier Rugby Holdco Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
7
12
Related party transactions

At the balance sheet date, an amount of £19,554,505 (2023: £19,554,310) was owed to Premier Rugby Limited, a subsidiary company. At the balance sheet date dividends of £15,176,000 (2023: £14,118,860) were owed by Premier Rugby Limited.

 

Cobalto UK Bidco Limited, a related party, holds loan notes in Premier Rugby Holdco. At the balance sheet date the amount owed to Cobalto UK Bidco Limited was £101,798,112 (2023: £104,065,856). The interest charged to the profit and loss was £11,851,115 (2023: £12,070,408) and the total repayment in the year was £14,118,860 (2023: £16,911,341).

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