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Registered number: 03875497









SPORTING CLUB ST. HELENS LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
SPORTING CLUB ST. HELENS LIMITED
 
 
COMPANY INFORMATION


Directors
E McManus 
J A G Hartley 
J Nicholl 
K J Marren 
R K McCormack 
M Coleman 
D Coleman 
M Fairhurst (appointed 7 February 2025)




Company secretary
P Smallshaw



Registered number
03875497



Registered office
St Helens RFC Stadium
McManus Drive

St. Helens

Merseyside

WA9 3AL




Independent auditors
WR Partners
Chartered Accountants & Statutory Auditors

Drake House

Gadbrook Park

Northwich

Cheshire

CW9 7RA





 
SPORTING CLUB ST. HELENS LIMITED
 

CONTENTS



Page
Group strategic report
1 - 3
Directors' report
4 - 7
Independent auditors' report
8 - 11
Consolidated statement of comprehensive income
12
Consolidated balance sheet
13 - 14
Company balance sheet
15
Consolidated statement of changes in equity
16
Company statement of changes in equity
17
Consolidated statement of cash flows
18
Consolidated analysis of net debt
19
Notes to the financial statements
20 - 40


 
SPORTING CLUB ST. HELENS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

Introduction
 
The directors present the strategic report for the year ended 31 October 2024.

Strategic objectives

To continue as one of the world's leading professional rugby league clubs and also to maximise non-rugby related revenue streams available to the club as a result of its ownership of its, wholly-owned, stadium facility.

Business review
 
The 2024 season was our most disappointing since the commencement of the Super League competition in 1996.
A league position of sixth then saw us agonisingly eliminated in the first round of the play offs by Warrington in golden point extra time.
There was no doubt that unparalleled injuries throughout the second half of the season contributed to our poor results and that the return of some players at the end of the season was too little too late. However, it also indicated that a gradual refresh and rebuild of our squad and back room staff was necessitated The St Helens women’s team won the Challenge Cup for the fourth season in a row but lost out in the Grand Final.
Gate receipts were impacted by both on field performance and also the impact of all games being televised.
Super League distribution fell despite all games being televised.
Retail sales were down but non match day hospitality and events revenue continued to grow despite not holding a concert in 2024.
Total revenues fell 5.6% from £9,095,180 in 2023 to £8,581,390 in 2024. Operating losses increased from £2,205,612 to £3,554,463 in 2024. Costs have increased across all of the teams and the stadium as well as the impact of the national minimum wage. We continually look at ways to control and reduce our costs.
Earnings before interest, taxation, depreciation and amortisation increased from a loss of £1,319,278 in 2023 to a loss of £2,559,952 in 2024.
Net assets fell from £8,827,790 in 2023 to £6,906,257 in 2024.

Principal risks and uncertainties
 
The principal risk of the Group is an adverse performance on the pitch, and its subsequent effect on income streams. The Group believe that they have in place the appropriate facilities and staff to ensure that the team continues to challenge in all competitions.
Energy prices are a major concern as there is no way to pass on these increased costs without impacting attendances for both match and non match day activity.
Support funding received from the Department of Culture, Media and Sport (DCMS) for the sport of rugby league in 2020 started to be repaid including the interest from July 2023.
Credit risk
It is the Group's policy that customers who wish to trade on credit terms are subject to credit verification procedures. Receivable balances are monitored on an ongoing basis and action is taken promptly when payment terms are breached.

Page 1

 
SPORTING CLUB ST. HELENS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024


Interest rate risk
The Group has a fixed rate of interest on its loans from RFL Investments Ltd. All other financial instruments are non-interest bearing.
Liquidity risk
The Board monitors monthly cash forecasts prepared by management based on historic trading levels and expected future trading levels. Costs are constantly reviewed and capital investment is closely controlled.
Foreign currency risk
The group trades primarily in the UK and as such the level of foreign currency risk is quite low.

Financial key performance indicators
 
The key performance indicators are operating profit/(loss) and the net assets figure. These indicators are disclosed in the financial statements on pages 12 and 13 respectively and discussed in the business review above.

Other key performance indicators
 
In line with all rugby league clubs we are subject to IMG Grading of which we are Grade A (2023 - Grade A).
Whilst our average home attendance has fallen slightly to 9,966 from 10,380 our Social Media followers have increased from 261,897 to 277,260 and engagements have increased from 21 million to nearly 32 million.
Our non centralised turnover has increased to 82% of total turnover (2023 - 77%).

Directors' statement of compliance with duty to promote the success of the Group
 
The mission of St Helens RFC is to be a successful rugby league club regularly competing in, and winning, the competitions in which they participate. The directors have a duty to promote the success of the company for the benefit of its employees and key stakeholders.
Stakeholders
The directors actively engage with stakeholders of the group to create positive relationships. Our key stakeholders include our employees who are at the centre of our business, working to achieve our aims. Members and supporters in the wider St Helens community are key to the Group, and ensuring they receive a positive experience whenever they visit the stadium is key to the business.
Customers
A main focus of St Helens RFC is to achieve excellent customer service. Some of our customers are also sponsors with whom we have developed long standing relationships, built on openness and quality of service. The directors and employees continue to promote these relationships with a view to ensuring the long term success of the business.
Suppliers
We work closely with our suppliers, many of whom are based within the St Helens community. The directors believe it is important to create positive relationships with local businesses where many employees of such businesses are also supporters.
St Helens community
The directors recognise that the Group is at the centre of the St Helens community and consideration is given to the effect on the community and the environment of prospective decisions before they are taken. The Group is one of the largest employers in the area and the directors recognise their responsibility to the town.

 
Page 2

 
SPORTING CLUB ST. HELENS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024

Decision making
Key decisions are presented to the Board at executive meetings by the management team. Directors are briefed on any possible risks to the business or any of its stakeholders and how they are to be managed. The Directors take these factors into account before making a final decision which they believe to be in the best interests of the Group.

Sustainability
The directors and senior management focus on the long term sustainability of the Group when making business decisions in order to ensure stable returns. The Board annually reviews and approves a three year strategic plan and performance against this is reviewed in the year. The potential impact and risks to individual stakeholders of the plan are highlighted to the Board. This is to ensure that the Group is conducting all business relationships with integrity.


This report was approved by the board on 23 July 2025 and signed on its behalf.



E McManus
Director

Page 3

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The principal activity of the Group continued to be that of a professional rugby league club and hospitality venue.

The principal activity of the Company continued to be that of a holding company.

Results and dividends

The loss for the year, after taxation, amounted to £1,921,533 (2023 - loss £2,046,191).

No ordinary dividends were paid in the current or prior period. The directors do not recommend payment of a final dividend.

Directors

The directors who served during the year were:

E McManus 
J A G Hartley 
J Nicholl 
K J Marren 
R K McCormack 
M Coleman 
Page 4

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024

D Coleman 

Future developments

Given the significant falls in central distributions are likely to pertain during the current cycle of the existing broadcasting cycle, the club will focus on improving operational revenues as well as reviewing and rationalising its costs.
Given the brand of rugby league and the quality of the clubs facilities and stadium, it is relatively well placed to improve its financial performance and position over the longer term.
The long term TV deals with Sky and BBC have underpinned the financial performance of Super League and its clubs. Rugby League and Super League announced in May 2022 that they have agreed a 12 year strategic deal with global management company IMG to help reimagine rugby league which should create opportunities for St Helens RFC.

Engagement with employees

The Group encourages the involvement of its employees in its management through regular meetings for the dissemination of information of particular concern to employees, including the financial and economic factors affecting the performance of the company and for receiving their views on important matters of policy.
The club management team meet monthly and hold meetings with staff both pre and post all games to ensure good communication is maintained. Key messages and policy communications are conducted via team briefings and the club undertakes a staff appraisal system to create an environment where two-way communication is encouraged and good working practices are communicated and reviewed with employees and their managers.

Engagement with suppliers, customers and others

In accordance with section 172 of the Companies Act, the Group has a requirement to report on a need to foster the Group's business relationships with suppliers, customers and others. The relationships are considered in the decision making of the Group, the details of which are included in the strategic report.

Disabled employees

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Group continues and that the appropriate training is arranged. It is the policy of the Group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Page 5

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024

Greenhouse gas emissions, energy consumption and energy efficiency action

The following section highlights the Group's energy consumption and equivalent emissions of CO2 in line with the SECR guidelines.
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Quantification and reporting methodology
The Group has followed the 2019 HM Government Environmental Reporting Guidelines. The Group has also used the GHG Reporting Protocol - Corporate Standard and have used the 2022 UK Government's Conversion Factors for Company Reporting.

Intensity measurement
The chosen intensity measurement ration is total gross emissions in metric tonnes CO2e per employee, the recommended ratio for the sector.
Measures taken to improve energy efficiency
The Group is reviewing half hour energy usage and changing as many light fittings as possible to LED to reduce energy usage. Options around Solar power and EV points are also being investigated.

Page 6

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

WR Partners were appointed as auditors in the year. The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 23 July 2025 and signed on its behalf.
 





E McManus
Director

Page 7

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTING CLUB ST. HELENS LIMITED
 

Opinion


We have audited the financial statements of Sporting Club St. Helens Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 October 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 October 2024 and of the Group's loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 8

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTING CLUB ST. HELENS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 9

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTING CLUB ST. HELENS LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Group and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, health and safety regulations and UK General Data Protection Regulation. We understood how the Group is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures.
The audit team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, consideration of management bias in relation to key estimates, and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business. We tested a sample of revenue transactions recorded in the year and either side of the year end to determine whether there was any evidence of material mistatement due to fraud.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 10

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTING CLUB ST. HELENS LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Chris Speakman FCCA (Senior statutory auditor)
  
for and on behalf of
WR Partners
 
Chartered Accountants
Statutory Auditors
  
Drake House
Gadbrook Park
Northwich
Cheshire
CW9 7RA

31 July 2025
Page 11

 
SPORTING CLUB ST. HELENS LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
8,581,390
9,095,180

Administrative expenses
  
(12,135,853)
(11,300,792)

Operating loss
 5 
(3,554,463)
(2,205,612)

Interest receivable and similar income
 8 
3,903
33

Interest payable and similar expenses
 9 
(50,383)
(54,412)

Loss before taxation
  
(3,600,943)
(2,259,991)

Tax on loss
 10 
1,679,410
213,800

Loss for the financial year
  
(1,921,533)
(2,046,191)

  

Unrealised surplus on revaluation of tangible fixed assets
  
-
1,504,287

Tax relating to other comprehensive income
  
-
(222,047)

Total comprehensive income for the year
  
(1,921,533)
(763,951)

(Loss) for the year attributable to:
  

Owners of the parent Company
  
(1,921,533)
(2,046,191)

  
(1,921,533)
(2,046,191)

The notes on pages 20 to 40 form part of these financial statements.

Page 12

 
SPORTING CLUB ST. HELENS LIMITED
REGISTERED NUMBER: 03875497

CONSOLIDATED BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 12 
31,784,317
32,661,613

Investments
 13 
2
2

  
31,784,319
32,661,615

Current assets
  

Stocks
 14 
166,447
129,236

Debtors: amounts falling due after more than one year
 15 
139,259
-

Debtors: amounts falling due within one year
 15 
722,077
1,130,740

Cash at bank and in hand
 16 
118,733
153,495

  
1,146,516
1,413,471

Creditors: amounts falling due within one year
 17 
(18,201,799)
(15,438,877)

Net current liabilities
  
 
 
(17,055,283)
 
 
(14,025,406)

Total assets less current liabilities
  
14,729,036
18,636,209

Creditors: amounts falling due after more than one year
 18 
(1,869,738)
(2,175,968)

Provisions for liabilities
  

Deferred taxation
 21 
(5,953,041)
(7,632,451)

  
 
 
(5,953,041)
 
 
(7,632,451)

Net assets
  
6,906,257
8,827,790


Capital and reserves
  

Called up share capital 
 22 
482,502
482,502

Share premium account
 23 
6,140,229
6,140,229

Revaluation reserve
 23 
16,680,380
17,330,419

Other reserves
 23 
(11,451)
(11,451)

Profit and loss account
 23 
(16,385,403)
(15,113,909)

  
6,906,257
8,827,790


Page 13

 
SPORTING CLUB ST. HELENS LIMITED
REGISTERED NUMBER: 03875497
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 July 2025.



E McManus
Director

The notes on pages 20 to 40 form part of these financial statements.

Page 14

 
SPORTING CLUB ST. HELENS LIMITED
REGISTERED NUMBER: 03875497

COMPANY BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
Restated
2023
Note
£
£

Fixed assets
  

Investments
 13 
18,450
18,450

  
18,450
18,450

Current assets
  

Debtors: amounts falling due within one year
 15 
22,773,270
19,764,874

Cash at bank and in hand
 16 
2
2

  
22,773,272
19,764,876

Creditors: amounts falling due within one year
 17 
(16,180,275)
(13,171,879)

Net current assets
  
 
 
6,592,997
 
 
6,592,997

Total assets less current liabilities
  
6,611,447
6,611,447

  

  

Net assets
  
6,611,447
6,611,447


Capital and reserves
  

Called up share capital 
 22 
482,502
482,502

Share premium account
 23 
6,140,229
6,140,229

Other reserves
 23 
(11,284)
(11,284)

  
6,611,447
6,611,447


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 July 2025.


E McManus
Director

The notes on pages 20 to 40 form part of these financial statements.

Page 15

 
SPORTING CLUB ST. HELENS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Share premium account
Revaluation reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£
£


At 1 November 2022
482,502
6,140,229
16,664,277
(11,451)
(13,683,816)
9,591,741



Loss for the year
-
-
-
-
(2,046,191)
(2,046,191)

Surplus on revaluation of freehold property
-
-
1,504,287
-
-
1,504,287

Tax relating to other comprehensive income
-
-
(222,047)
-
-
(222,047)
Total comprehensive income for the year
-
-
1,282,240
-
(2,046,191)
(763,951)

Transfer to/from profit and loss account
-
-
(616,098)
-
616,098
-



At 1 November 2023
482,502
6,140,229
17,330,419
(11,451)
(15,113,909)
8,827,790



Loss for the year
-
-
-
-
(1,921,533)
(1,921,533)
Total comprehensive income for the year
-
-
-
-
(1,921,533)
(1,921,533)

Transfer to/from profit and loss account
-
-
(650,039)
-
650,039
-


At 31 October 2024
482,502
6,140,229
16,680,380
(11,451)
(16,385,403)
6,906,257


The notes on pages 20 to 40 form part of these financial statements.

Page 16

 
SPORTING CLUB ST. HELENS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Share premium account
Other reserves
Total equity

£
£
£
£


At 1 November 2022
482,502
6,140,229
(11,284)
6,611,447
Total comprehensive income for the year
-
-
-
-



At 1 November 2023
482,502
6,140,229
(11,284)
6,611,447
Total comprehensive income for the year
-
-
-
-


At 31 October 2024
482,502
6,140,229
(11,284)
6,611,447


Page 17

 
SPORTING CLUB ST. HELENS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
£
£

Cash flows from operating activities

Loss for the financial year
(1,921,533)
(2,046,191)

Adjustments for:

Depreciation of tangible assets
994,511
886,337

Loss on disposal of tangible assets
23,621
-

Finance cost
50,383
54,412

Investment income
(3,903)
(33)

Taxation charge
(1,679,410)
(213,800)

(Increase) in stocks
(37,211)
(36,969)

Decrease/(increase) in debtors
134,706
(56,619)

(Decrease) in creditors
(259,613)
(51,690)

Corporation tax received
134,698
195,404

Interest paid
(50,383)
(122,097)

Net cash generated from operating activities

(2,614,134)
(1,391,246)


Cash flows from investing activities

Purchase of tangible fixed assets
(126,756)
(84,786)

Sale of tangible fixed assets
1,301
-

Interest received
3,903
33

Net cash from investing activities

(121,552)
(84,753)

Cash flows from financing activities

Proceeds from borrowings
3,008,395
996,949

Repayment of borrowings
(302,111)
(99,398)

Repayment of finance leases
(5,360)
-

Net cash used in financing activities
2,700,924
897,551

Net (decrease) in cash and cash equivalents
(34,762)
(578,448)

Cash and cash equivalents at beginning of year
153,495
731,943

Cash and cash equivalents at the end of year
118,733
153,495


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
118,733
153,495

118,733
153,495


Page 18

 
SPORTING CLUB ST. HELENS LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 OCTOBER 2024





At 1 November 2023
Cash flows
New finance leases
At 31 October 2024
£

£

£

£

Cash at bank and in hand

153,495

(34,762)

-

118,733

Debt due after 1 year

(2,478,079)

610,321

-

(1,867,758)

Debt due within 1 year

(13,473,990)

(3,014,494)

-

(16,488,484)

Finance leases

-

5,360

(15,380)

(10,020)


(15,798,574)
(2,433,575)
(15,380)
(18,247,529)

The notes on pages 20 to 40 form part of these financial statements.

Page 19

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Sporting Club St. Helens Limited ("the Company") is a private company limited by shares and is registered, domiciled and incorporated in England and Wales. The registered office is St Helens RFC Stadium, McManus Drive, St Helens, Merseyside, WA9 3AL.
The Group consists of Sporting Club St. Helens Limited and its subsidiary.
The Company's and the Group's principal activities and nature of its operations are disclosed in the Directors' Report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 20

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Going concern

Due to the impact of COVID-19 on Rugby League the Group previously received £2.6m of loans provided by the government as specific support to the sport of rugby league. These loans attracted interest from May 2021 and interest and loan repayments commenced in July 2023 over an eight year period. The annual cashflow commitment of servicing these loans is £348,914.
Rugby League as a sport continues to struggle to grow its fan base and increase TV revenues.
The hospitality sector has returned and it is forecast that this will continue to improve.
The Group has modelled the scenario that fans will remain, hospitality levels will remain consistent and loans will be repaid in line with the above terms but have also sensitised the forecasts to consider severe but plausible downside scenarios in which the level of income falls, such as the fall in TV revenue.
The ultimate parent, Crowther Street Holdings Limited has confirmed it will provide financial support to the Group for a period of at least 12 months from the date of signing these financial statements. The directors have satisfied themselves that Crowther Street Holdings Limited are able to provide any support needed, including that required in the downside scenarios mentioned above, as a result of support it has from the main shareholder.
As a result, the directors believe it is appropriate to continue to prepare the accounts using the going concern assumption.

 
2.4

Revenue

Prize money is dependent on where the club has finished in the major competitions and the league. It is accounted for in the season to which it relates.
Gate receipts relate to the proceeds taken at turnstiles for each game and the season ticket sales for the season. Any prepaid season ticket sales are included within deferred income. Future credits against season tickets are recognised as deferred income.
The sale of players relates to players sold who were under contract to the club. The income is accounted for when the sale contract is agreed.
Television fees relate to the payments for television coverage from Sky and the BBC. It is accounted for on an accrual basis.
Sponsorship, advertising, and hospitality is accounted for in the season to which it relate. Any prepaid sales are included within deferred income.
Merchandising relates to shop sales and it is accounted for on a receipts basis.
All of the above items exclude value-added tax and are recorded at the fair value of the consideration receivable.

Page 21

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 22

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.11

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Long-term leasehold property
-
over 50 years
Plant and machinery
-
at 10% and 20% on reducing balance
Computer equipment
-
at 20% and 33% on reducing balance

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 23

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.12

Revaluation of tangible fixed assets

The long-term leasehold property (stadium) is subject to 3rd party valuation every 3 years. In the intervening years, the directors consider if there has been a material change to the valuation and if so, would carry out a directors valuation. The useful life of the Long-term leasehold property is deemed to be 50 years. Upon revaluation the revalued amount is depreciated over the remaining useful economic life. At the year end, this was 36 years.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.13

Valuation of investments

Investments are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 24

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.19

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

Page 25

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.19
Financial instruments (continued)

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

Page 26

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgments, estimates, and assumptions about the carrying value 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, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors, there are no material judgments that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
Valuation of land and buildings
The main estimates applied in preparing these financial statements concern the carrying value of the company's leasehold land and buildings. The basis on which this has been reflected in these statements is set out in note 11.


4.


Turnover (Group)

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Rugby and Football related income
6,676,025
6,920,457

Catering and hospitality
1,905,365
2,174,723

8,581,390
9,095,180


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
8,581,390
9,095,180



5.


Operating loss (Group)

The operating loss is stated after charging:

2024
2023
£
£

Research & development costs
693,580
545,292

Other operating lease rentals
228,215
230,888

Depreciation of tangible fixed assets
994,511
886,337

Page 27

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Auditors' remuneration

During the year, the Group obtained the following services from the Group's auditors and their associates:


2024
2023
£
£

Fees payable to the Group's auditors and their associates for the audit of the consolidated and parent Company's financial statements
3,250
40,000

Fees payable to the Group's auditors and their associates in respect of:

The auditing of accounts of subsidiary of the Group
20,250
-


Taxation compliance services
1,700
4,000

All other non-audit services
3,100
8,000


7.


Employees

Staff costs were as follows:


Group
Group
2024
2023
£
£


Wages and salaries
5,539,662
5,082,919

Social security costs
531,737
489,885

Cost of defined contribution scheme
60,971
50,945

6,132,370
5,623,749


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Playing and coaching staff
75
81



General staff
57
88



Catering and stewards
433
376

565
545

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL)
Page 28

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Interest receivable (Group)

2024
2023
£
£


Other interest receivable
3,903
33

3,903
33


9.


Interest payable and similar expenses (Group)

2024
2023
£
£


Other interest payable
50,383
54,412

50,383
54,412


10.


Taxation (Group)


2024
2023
£
£

Corporation tax


Research and development tax credit
-
(134,698)

Adjustments in respect of previous periods
-
(79,102)


-
(213,800)


Total current tax
-
(213,800)

Deferred tax


Offset of tax losses
(1,679,410)
-

Total deferred tax
(1,679,410)
-


(1,679,410)
(213,800)
Page 29

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
 
10.Taxation (Group) (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 22.52%). The differences are explained below:

2024
2023
£
£


Loss on ordinary activities before tax
(3,600,943)
(2,259,991)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22.52%)
(900,236)
(508,950)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
8,549
6,219

Capital allowances for year in excess of depreciation
212,288
176,953

Adjustments to tax charge in respect of prior periods
-
(79,102)

Increase or decrease in pension fund liability leading to an increase (decrease) in tax
(3,656)
-

Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge
-
(134,698)

Unrelieved tax losses carried forward
(996,355)
322,081

Other differences leading to an increase (decrease) in the tax charge
-
3,697

Total tax charge for the year
(1,679,410)
(213,800)


Factors that may affect future tax charges

The group has £13,115,454 (2023 - £16,569,557) of trading losses that have not been recognised as the timing of crystallisation is uncertain.


11.


Parent company profit or loss for the year

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements. The profit after tax of the parent Company for the year was £0 (2023 - £0).

Page 30

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Tangible fixed assets

Group






Long-term leasehold property
Plant and machinery
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2023
31,760,000
2,107,994
546,085
34,414,079


Additions
-
130,675
11,461
142,136


Disposals
-
(1,200)
(162,512)
(163,712)



At 31 October 2024

31,760,000
2,237,469
395,034
34,392,503



Depreciation


At 1 November 2023
-
1,269,251
483,215
1,752,466


Charge for the year on owned assets
857,520
110,493
25,157
993,170


Charge for the year on financed assets
-
1,340
-
1,340


Disposals
-
(1,200)
(137,590)
(138,790)



At 31 October 2024

857,520
1,379,884
370,782
2,608,186



Net book value



At 31 October 2024
30,902,480
857,585
24,252
31,784,317



At 31 October 2023
31,760,000
838,743
62,870
32,661,613

At 31 October 2024, the Group held assets under hire purchase agreements at a cost of £13,400 (2023: £nil) with a net book value of £12,060 (2023: £nil). Depreciation has been charged in the year of £1,340 (2023: £nil).

The leasehold land and buildings were valued at 31 October 2023 to a value of £31,760,000 based on a depreciated replacement cost by M.A. King Consulting, a firm of independent Chartered Surveyors, in accordance with the Royal Institution of Chartered Surveyors. M.A. King Consulting are not connected with the Group.

Page 31

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

           12.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£

Group


Cost
7,984,483
7,984,483

Accumulated depreciation
(1,394,833)
(1,190,592)

Net book value
6,589,650
6,793,891


13.


Fixed asset investments

Group





Unlisted investments

£



Cost or valuation


At 1 November 2023
2



At 31 October 2024
2




Unlisted investments are the Group's share in Super League (Europe) Limited.

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
18,450



At 31 October 2024
18,450




Page 32

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

St Helens Rugby Football Club Limited
St Helens RFC Stadium, McManus Drive, St Helens, Merseyside, WA9 3AL
Ordinary
100%


14.


Stocks

Group
Group
2024
2023
£
£

Finished goods and goods for resale
166,447
129,236

166,447
129,236


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 33

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

15.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due after more than one year

Trade debtors
90,351
-
-
-

Other debtors
48,908
-
-
-

139,259
-
-
-


Group
Group
Company
Company
2024
Restated
2023
2024
Restated
2023
£
£
£
£

Due within one year

Trade debtors
449,481
315,867
-
-

Amounts owed by group undertakings
-
-
22,773,270
19,764,874

Other debtors
95,817
244,392
-
-

Prepayments and accrued income
176,779
435,783
-
-

Tax recoverable
-
134,698
-
-

722,077
1,130,740
22,773,270
19,764,874


Amounts owed by group undertakings are repayable on demand and are not subject to interest.
The comparative has been restated to disclose amounts due from group undertakings from due in more than one year to due in less than one year.


16.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
118,733
153,495
2
2

118,733
153,495
2
2


Page 34

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

17.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other loans
16,488,484
13,473,990
16,180,275
13,171,879

Trade creditors
545,094
482,738
-
-

Other taxation and social security
294,819
241,563
-
-

Obligations under finance lease and hire purchase contracts
8,040
-
-
-

Other creditors
122,397
145,554
-
-

Accruals and deferred income
742,965
1,095,032
-
-

18,201,799
15,438,877
16,180,275
13,171,879



18.


Creditors: Amounts falling due after more than one year

Group
Group
2024
2023
£
£

Other loans
1,867,758
2,175,968

Net obligations under finance leases and hire purchase contracts
1,980
-

1,869,738
2,175,968



The following liabilities were secured:
Group
Group
2024
2023
£
£


Payable within one year
308,209
302,111

Payable after one year
1,867,758
2,175,967

2,175,967
2,478,078

Details of security provided:

Other loans are secured by a charge over all the assets and undertakings of St Helens Rugby Football Club Limited. Other borrowings consist of loans from RFL Investments Limited, which are part of a package of government support measures. The loan attracts interest at 2% with an interest payment holiday of two years to April 2021. The loans are due to be fully repaid by April 2031. Interest and arrangement fees of £46,803 (2023 - £51,301) have been accrued at year end.
 

Page 35

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
Group
Group
2024
2023
£
£


Repayable by instalments
571,442
905,327

571,442
905,327



19.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Other loans
16,488,484
13,473,990
16,180,275
13,171,879


16,488,484
13,473,990
16,180,275
13,171,879

Amounts falling due 1-2 years

Other loans
314,430
545,123
-
-


314,430
545,123
-
-

Amounts falling due 2-5 years

Other loans
981,886
725,518
-
-


981,886
725,518
-
-

Amounts falling due after more than 5 years

Other loans
571,442
905,327
-
-

571,442
905,327
-
-

18,356,242
15,649,958
16,180,275
13,171,879


Page 36

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
 
19.Loans (continued)

Other loans include amounts due to Crowther Street Holdings Limited, a shareholder of the Company. The total balance payable to Crowther Street Holdings Limited at 31 October 2024 is £13,758,082 (2023 - £10,749,685). The loan does not attract interest and is due for repayment on demand. Partial or full repayment of the loan can be made in multiples of £250,000. The loan is convertible into ordinary shares of the company at the option of the lender. Arrangement fees of £72,816 (2023 - £63,863) have been charged during the year.
The loan from Crowther Street Holdings Limited is secured by a debenture over all of the assets and undertakings of Sporting Club St. Helens Limited and its subsidiary, St Helens Rugby Football Club Limited.
Other loans include amounts due to persons connected with a shareholder of Sporting Club St. Helens Limited. The balance payable to the persons connected with a shareholder is £2,422,194 (2023 - £2,422,194). The loan does not attract interest and is technically due for repayment on demand.
Other loans also include a loan of £2,175,966 at 31 October 2024 (2023 - £2,478,079). The loan attracts interest at 2% with an interest payment holiday of two years to April 2021. The loans are due to be fully repaid by April 2031. Interest and arrangement fees of £46,803 (2023 - £51,301) have been accrued at year end. The loan is secured by a charge over all the assets and undertakings of St Helens Rugby Football Club Limited.


20.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2024
2023
£
£

Within one year
8,040
-

Between 1-5 years
1,980
-

10,020
-

Page 37

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

21.


Deferred taxation


Group



2024


£






At beginning of year
(7,632,451)


Credited to profit or loss
1,679,410



At end of year
(5,953,041)

Company


2024






At end of year
-
The provision for deferred taxation is made up as follows:

Group
Group
2024
2023
£
£

Accelerated capital allowances
(186,510)
(150,408)

Tax losses carried forward
1,701,274
145,426

Rolled over gains
(1,390,924)
(1,390,924)

Revaluations
(6,078,208)
(6,241,527)

Short-term timing differences
1,327
4,982

(5,953,041)
(7,632,451)


There is a significant balance related to rolled over gains, the timing of the crystallisation which is uncertain.


22.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



482,502 (2023 - 482,502) Ordinary shares of £1.00 each
482,502
482,502


Page 38

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

23.


Reserves

Share premium account

Consideration received for shares issued above their nominal value net of transaction costs.

Revaluation reserve

The cumulative revaluation gains and losses in respect of land and buildings, except revaluation gains and losses recognised in profit or loss, net of respective deferred tax.

Other reserves

The acquisition of St Helens Rugby Football Club Limited was achieved by a share for share exchange and therefore merger accounting principles were adopted. An amount of £11,451, which represents the excess nominal value of the shares issued over the nominal value of the shares acquired in St Helens Rugby Football Club Limited was charged to other reserves.

Profit and loss account

Cumulative profit and loss net of distributions to owners.


24.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £60,971 (2023 - £50,945) . Contributions totalling £21,082 (2023 - £19,931) were payable to the fund at the balance sheet date and are included in creditors.


25.


Commitments under operating leases

At 31 October 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
275,636
280,108

Later than 1 year and not later than 5 years
157,439
272,937

433,075
553,045


26.


Transactions with directors

There is a secured loan from a company controlled by a director, M Coleman, of £13,758,082 (2023 - £10,749,685). A facility fee of £72,816 (2023 - £63,863) has been charged in the year.

Page 39

 
SPORTING CLUB ST. HELENS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

27.


Related party transactions

The remuneration of key management personnel of the group, who are senior members of staff, is as follows.


2024
2023
£
£

Aggregate compensation
658,594
698,304
658,594
698,304


28.


Controlling party

M Coleman is considered to be the ultimate controlling party given his majority shareholding in Crowther Street Holdings Limited, who are incorporated in the British Virgin Islands. Crowther Street Holdings Limited have a holding greater than 50% of the share capital of Sporting Club St. Helens Limited.

Page 40