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Registered number: 03238540









Super League (Europe) Limited









Annual Report and Financial Statements

For the year ended 31 December 2024

 
Super League (Europe) Limited
 
 
Company Information


Directors
P Hutton 
P J Lakin (appointed 15 November 2024)
E McManus (appointed 18 November 2024)




Company secretary
M&R Secretarial Services Limited



Registered number
03238540



Registered office
Super League (Europe) Limited
Gate 13

Rowsley Street

Manchester

M11 3FF




Independent auditors
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors

3 Stockport Exchange

Stockport

SK1 3GG





 
Super League (Europe) Limited
 

Contents



Page
Strategic Report
 
1 - 3
Directors' Report
 
4 - 5
Independent Auditors' Report
 
6 - 9
Statement of Comprehensive Income
 
10
Balance Sheet
 
11
Statement of Changes in Equity
 
12
Statement of Cash Flows
 
13
Notes to the Financial Statements
 
14 - 20


 
Super League (Europe) Limited
 
 
Strategic Report
For the year ended 31 December 2024

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

Principal activities
 
The principal activity of Super League (Europe) Limited (“SLE”) is the management Super League, the top tier of rugby league in the UK and France.
In 2022, Super League (Europe) Ltd entered into a Joint Venture with the Rugby Football League (“RFL”) and formed RL Commercial Limited. The principal activity of RL Commercial Limited throughout the year was to promote and drive growth of the game of Rugby League in UK and overseas markets.
RL Commercial has been assigned the rights of all the commercial properties of the professional Sport and is charged with selling those properties as well as staging the Sport’s central events. Ownership of those rights still remains with SLE and the RFL respectively. RL Commercial Limited, began trading in January 2023.
SLE predominantly receives revenue from RL Commercial as well as interest on its cash deposits.
Total revenues received by SLE are attributable to SLE only to the extent that they are required to meet its operating costs. All surplus revenues over and above amounts needed to meet SLE’s operating costs are received in SLE’s capacity as agents of the clubs that compete in the Super League competition. Those surplus revenues are distributed to the clubs as beneficial owners of those revenues, and SLE retains only those revenues which result in it making nil profit after tax.
Total income receivable by the Company from RL Commercial was £16,075k 
(2023: £17,249k).
Review of 2024
More than any other year since the club’s dominance of British Rugby League for the decade leading up to the establishment of the Super League in 1996, the year 2024 belonged to Wigan.
The Warriors, steered as intelligently from the chief executive’s office by the former playing great Kris Radlinski as they were on the pitch by the head coach Matt Peet, won a Grand Slam of trophies unique in the Super League era – World Club Challenge, Betfred Challenge Cup, League Leaders’ Shield and culminating in the Betfred Super League Grand Final at Old Trafford in October.
Their achievements earned recognition well beyond Rugby League as they were named Team of the Year in the BBC’s Sports Personality Awards for 2024 – while Peet was pipped as Coach of the Year by Trevor and Jenny Meadows, who had plotted Keely Hodgkinson’s path to 800 metres Olympics gold in Paris. On the stage and in front of millions, Trevor – who briefly played for Chorley Borough – spoke of his admiration for Peet and the Wigan club, and his pride at being ranked alongside them.
BBC Sport’s extended coverage of Rugby League under a new three-year deal to run alongside the continued investment and coverage from Sky Sports had been one of the major features of the 2024 season. Both networks covered Wigan’s breathless 16-12 victory over Penrith Panthers in front of a capacity crowd and record viewing figures in February – a fifth World Club Challenge win for Wigan to equal the record of Sydney Roosters, and their first since 2017.
It was also a fourth defeat in the fixture for the Panthers, following their previous appearances against Wigan in 1991, Bradford Bulls in 2004, and another narrow defeat at home to St Helens 12 months earlier. But all who travelled with Penrith enhanced the club’s reputation as the classiest of acts, led by the father and son combination of Ivan and Nathan Cleary.
The 2024 season would end with Penrith clinching their fourth consecutive NRL Grand Final victory, unprecedented in the modern era, the weekend before Wigan won their second – leaving little doubt that these were the two outstanding clubs in the sport.
 
Page 1

 
Super League (Europe) Limited
 

Strategic Report (continued)
For the year ended 31 December 2024

Review of 2024 (continued)
Wigan’s Challenge Cup win in June was their 21st – seven more than any other club – but their first at Wembley since 2013. They beat Warrington Wolves, whose Wembley appearance confirmed their position as credible challengers, reflecting the early impact made by Sam Burgess following his first appointment as a head coach.
Bevan French won the Lance Todd Trophy as player of the match, his second such award of the year as he had already won the equivalent award for the World Club Challenge, which was named after Bill Ashurst, a forward who played for Wigan and Penrith.
French went on to complete a unique treble at Old Trafford in October, when he scored the only try in Wigan’s 9-2 win against Hull KR – a brilliant solo effort – to win the first Rob Burrow Award. That had been introduced at the start of the 
season, replacing the Harry Sunderland Trophy which dated back to Championship and Premiership Finals, and reflecting Burrow’s indelible link to the Grand Final through the try he scored for Leeds Rhinos against St Helens at Old Trafford in 2011.
There was added poignancy to French’s award, as there had been to Wembley week four months earlier, after Leeds announced the end of Burrow’s heroic battle against Motor Neurone Disease on the evening of Sunday June 2, six days before the Challenge Cup Final – Rugby League and the wider sporting world paid tribute at Wembley, with applause after seven minutes of each of the day’s four finals. That began with the inspiresport RFL Champion Schools Final for Year Seven Boys – the Steven Mullaney Memorial Match – which was won by St Peter’s Catholic HS of Wigan against Cardiff’s Ysgol Gyfun Gymraeg Glantaf.
St Helens beat Leeds Rhinos in the second Betfred Women’s Challenge Cup Final at Wembley – exactly as they had done in the first, this time with a convincing 22-0 scoreline extending their grip on the competition to a fourth year. And Finals Day was completed by Wakefield Trinity romping to a 50-6 win against Sheffield Eagles to become the fifth different winners of the AB Sundecks 1895 Cup since its introduction in 2019. 
The sight of around 6,000 Trinity supporters celebrating behind the posts, as they became comfortably the best supported 1895 Cup finalists so far, was another Wembley highlight – and Wakefield continued to enjoy their season outside Super League following relegation in 2023, as under their own effective management combination of Daryl Powell and the ebullient owner Matt Ellis, they finished top of the Betfred Championship table by a distance and then beat Toulouse Olympique in the Grand Final.
Their return to the elite in 2025 was confirmed days later, secured through the grading system introduced through Rugby League’s strategic partnership with IMG, and replacing a London Broncos team who had battled bravely all season under the intelligent coaching of Mike Eccles, and who only finished bottom behind Hull FC on points difference.
Catalans Dragons won the Betfred Wheelchair Challenge Cup for the second consecutive season, demolishing Wigan Warriors 81-18 in the Final at the English Institute of Sport in Sheffield – with Leeds Rhinos securing their first Betfred Wheelchair Super League title since 2021 with a 52-32 win against Halifax Panthers at the University of Hull.
Jodie Cunningham’s Saints were denied a league and cup double despite finishing top of the BWSL table by four points. That earned them home advantage in the Grand Final but they were stunned by Lindsay Anfield’s York Valkyrie, who won 18-8 to secure their second consecutive BWSL title – in front of a competition record crowd of 4,813. Their full-back Georgie Hetherington, who had already been named Woman of Steel, added the Player of the Match award in her last appearance under that surname – she resumed her career in 2025 as Georgie Dagger, after marrying the York Knights player Will.

Page 2

 
Super League (Europe) Limited
 

Strategic Report (continued)
For the year ended 31 December 2024

Principal risks and uncertainties
 
Revenue from the joint venture with the RFL is the major income stream for Super League and, as noted above, 2023 was RL Commercial’s first year of trading. Revenues have been satisfactory in the year and the Directors and member Clubs are hopeful for growth in these revenues in future years and RL Commercial’s partnership with IMG develops. This will provide stability both for SLE and the member clubs.
The Board is mindful that SLE’s diversification of revenue streams is narrow. The landscape remains challenging for RL Commercial, and the Board is aware that commercial partnerships always present a degree of risk. The Directors continue to use their influence on the performance of RL Commercial as SLE’s representatives on the RL Commercial Board.


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


P Hutton
Director

Date: 8 August 2025

Page 3

 
Super League (Europe) Limited
 
 
 
Directors' Report
For the year ended 31 December 2024

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

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, the directors' report and the 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 of the profit or loss of the Company for that period.

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


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

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

P Hutton 
P J Lakin (appointed 15 November 2024)
E McManus (appointed 18 November 2024)
J S Murphy (resigned 15 November 2024)

Political contributions

The Company made no political donations or incurred any disclosable political expenditure during the year (2023: £Nil).

Future developments

Super League (Europe) Limited will continue to receive revenue from the joint venture with the RFL. It is hoped that growth in revenues will be experienced in future years as RL Commercial’s partnership with IMG develops.

Page 4

 
Super League (Europe) Limited
 
 
 
Directors' Report (continued)
For the year ended 31 December 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'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's auditors are aware of that information.

Auditors

The auditorsHurst Accountants Limitedwere appointed during the year and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

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


P Hutton
Director

Date: 8 August 2025

Page 5

 
Super League (Europe) Limited
 
 
 
Independent Auditors' Report to the Members of Super League (Europe) Limited
 

Opinion


We have audited the financial statements of Super League (Europe) Limited (the 'Company') for the year ended 31 December 2024, which comprise the statement of comprehensive income, the balance sheet, the statement of cash flows, the 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 Company's affairs as at 31 December 2024 and of its result 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 Company 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 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.


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.


Page 6

 
Super League (Europe) Limited
 
 
 
Independent Auditors' Report to the Members of Super League (Europe) Limited (continued)


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 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 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 Company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
the 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; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report.


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 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 Company or to cease operations, or have no realistic alternative but to do so.


Page 7

 
Super League (Europe) Limited
 
 
 
Independent Auditors' Report to the Members of Super League (Europe) Limited (continued)


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 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:

Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
 
The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud. 
Supporting documentation relating to the Company's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulation.
°Detecting and responding to the risks of fraud.
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, and Anti-bribery and Corruption.

Audit response to risks identified

Our procedures to respond to the risks identified included the following:

Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud. 
Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities.
Enquiring of management about any actual and potential litigation and claims.
Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
 
Page 8

 
Super League (Europe) Limited
 
 
 
Independent Auditors' Report to the Members of Super League (Europe) Limited (continued)


We have also considered the risk of fraud through management override of controls by:

Testing the appropriateness of journal entries and other adjustments. 
Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them.  Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.


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.


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.


John Glover (Senior Statutory Auditor)
for and on behalf of
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Stockport
SK1 3GG

14 August 2025
Page 9

 
Super League (Europe) Limited
 
 
Statement of Comprehensive Income
For the year ended 31 December 2024


2024
2023
Note
£
£

Turnover
  
16,075,017
17,249,191

Gross profit
  
16,075,017
17,249,191

Administrative expenses
  
(16,082,269)
(17,279,362)

Operating loss
  
(7,252)
(30,171)

Interest receivable and similar income
 5 
15,644
41,288

Interest payable and similar expenses
 6 
(8,392)
(12,509)

Profit/(loss) before tax
  
-
(1,392)

Tax on profit/(loss)
 7 
-
1,392

Total comprehensive income for the year
  
-
-

The notes on pages 14 to 20 form part of these financial statements.

Page 10

 
Super League (Europe) Limited
Registered number: 03238540

Balance Sheet
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 8 
50
50

Current assets
  

Debtors: amounts falling due within one year
 9 
2,209,283
2,372,247

Cash at bank and in hand
 10 
887,127
807,665

  
3,096,410
3,179,912

Creditors: amounts falling due within one year
 11 
(3,058,598)
(2,688,334)

Net current assets
  
 
 
37,812
 
 
491,578

Total assets less current liabilities
  
37,862
491,628

Creditors: amounts falling due after more than one year
 12 
(37,849)
(491,615)

Net assets
  
13
13


Capital and reserves
  

Called up share capital 
 15 
13
13


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

P Hutton
Director

Date: 8 August 2025

The notes on pages 14 to 20 form part of these financial statements.

Page 11

 
Super League (Europe) Limited
 

Statement of Changes in Equity
For the year ended 31 December 2024


Called up share capital
Total equity

£
£

At 1 January 2024
13
13


At 31 December 2024
13
13



Statement of Changes in Equity
For the year ended 31 December 2023


Called up share capital
Total equity

£
£

At 1 January 2023
13
13


At 31 December 2023
13
13


The notes on pages 14 to 20 form part of these financial statements.

Page 12

 
Super League (Europe) Limited
 

Statement of Cash Flows
For the year ended 31 December 2024

2024
2023
£
£


Profit/(loss) for the financial year
-
-

Adjustments for:

Loss on disposal of tangible assets
-
1,213

Interest paid
8,392
12,509

Interest received
(15,644)
(41,288)

Taxation charge
-
(1,392)

Decrease in debtors
161,686
226,644

Decrease in amounts owed by joint ventures
1,278
-

Increase in creditors
275,088
56,289

Increase in amounts owed to joint ventures
94,374
-

Corporation tax received/(paid)
-
(10,646)

Net cash generated from operating activities

525,174
243,329

Cash flows from investing activities

Interest received
15,644
41,288

Proceeds from disposal of tangible fixed assets
-
12,361

Acquisition of joint ventures
-
(50)

Net cash from investing activities

15,644
53,599

Cash flows from financing activities

Repayment of other loans
(452,964)
(452,165)

Interest paid
(8,392)
(12,509)

Net cash used in financing activities
(461,356)
(464,674)

Net increase/(decrease) in cash and cash equivalents
79,462
(167,746)

Cash and cash equivalents at beginning of year
807,665
975,411

Cash and cash equivalents at the end of year
887,127
807,665


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
887,127
807,665


The notes on pages 14 to 20 form part of these financial statements.

Page 13

 
Super League (Europe) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

1.


General information

Super League (Europe) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gate 13, Rowsley Street, Etihad Campus, Manchester, M11 3FF.

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 management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

With effect from 1 January 2023, the Super League (Europe) Limited receives a share of the net residual revenue generated within RL Commercial Limited, which is a joint venture between RFL (Governing Body) Limited and Super League (Europe) Limited. This revenue share is determined in accordance with a framework agreement agreed in 2022 between Super League (Europe) Limited, RL Commercial Limited, The Rugby Football League Limited and RFL (Governing Body) Limited. This revenue has been recognised as 'residual value share from joint venture' within turnover. 

 
2.3

Interest income

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

 
2.4

Borrowing costs

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

Page 14

 
Super League (Europe) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.5

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 operates and generates 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.


 
2.6

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.7

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.

 
2.8

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 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 Company's cash management.

 
2.9

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 15

 
Super League (Europe) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.10

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of the estimation means that actual outcomes could differ from those estimates. The directors believe that judgements, estimated and assumptions do not have a significant risk of causing a material difference to the carrying amounts of the assets and liabilities within the next financial year. 
Changes in accounting estimates may be necessary if there are changes in the circumstances on which the estimate was based or as a result of new information or more experience. Significant accounting policies, estimates and assumptions, and judgements are provided below.
a) Recoverable value of trade debtors
The recoverable values of trade and other debtors are reviewed regularly in light of available economic information specific to each debtor and specific provisions are for balances considered to be at risk or irrecoverable. At 31 December 2024, the carrying amount of trade debtors totalled £Nil (2023: £Nil)


4.


Employees

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


        2024
        2023
            No.
            No.







Directors
3
2


5.


Interest receivable

2024
2023
£
£


Other interest receivable
15,644
41,288

Page 16

 
Super League (Europe) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

6.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
8,392
12,509


7.


Taxation


2024
2023
£
£

Deferred tax


Origination and reversal of timing differences
-
(1,392)

Total deferred tax
-
(1,392)

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit/(loss) on ordinary activities before tax
-
(1,392)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
-
(264)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
188
4,899

Capital allowances for year in excess of depreciation
-
(759)

Other timing differences leading to an increase (decrease) in taxation
(1,997)
(3,876)

Permanent capital allowances in excess of depreciation
-
(1,392)

Group relief
1,809
-

Total tax charge for the year
-
(1,392)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 17

 
Super League (Europe) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

8.


Fixed asset investments





Investment in joint ventures

£



Cost or valuation


At 1 January 2024
50



At 31 December 2024
50





Joint venture


The following was a joint venture of the Company:


Name

Registered office

Holding

RL Commercial Limited
Gate 13, Rowley Street, Etihad Campus, Manchester, England, M11 3FF
50%


9.


Debtors

2024
2023
£
£

Amounts owed by joint ventures
1,621,936
1,623,214

Other debtors
526,772
745,484

Prepayments and accrued income
57,026
-

Deferred taxation
3,549
3,549

2,209,283
2,372,247



10.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
887,127
807,665


Page 18

 
Super League (Europe) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

11.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
453,766
452,964

Trade creditors
19,577
140

Amounts owed to joint ventures
500,047
405,673

Other taxation and social security
531,938
377,420

Other creditors
204,135
87,829

Accruals and deferred income
1,349,135
1,364,308

3,058,598
2,688,334


Other loans include liabilities of £52,632 (2023: £52,632) which are secured by debenture including fixed charge and floating charge over the company's assets and liabilities.


12.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
37,849
491,615


Other loans include liabilities of £4,385 (2023: £57,017) which are secured by debenture including fixed charge and floating charge over the company's assets and liabilities.


13.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans

453,766
452,964

Amounts falling due 1-2 years

Other loans
37,849
491,615

491,615
944,579


Page 19

 
Super League (Europe) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

14.


Deferred taxation




2024


£



At beginning of year
3,549



At end of year
3,549

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
3,549
3,549


15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



12 (2023 - 12) Ordinary shares of £1.0 each
12
12
1 (2023 - 1) Special rights preference share of £1.0
1
1

13

13

The Ordinary Shares are held by the participating clubs in Super League. 
The Special Rights Preference share is held by RFL (Governing Body) Limited ("the Governing Body shareholder"), giving it rights to attend General Meetings but without any right to vote, save in the event of a tied vote. Consent of the Governing Body shareholder must be obtained in respect of certain rugby operational matters, with certain other commercial matters being solely determined by the Ordinary Shareholders. Full details are set out in the Company's Articles of Association.


16.


Related party transactions

The company made sales to associated companies totalling £16,075,017 (2023: £17,249,191).

The company made purchases from associated companies totalling £Nil (2023: £548,732).
Amounts due to associated companies totalled £500,047
 (2023: £405,673) at year end.
Amounts due from associated companies totalled £1,619,791 
(2023: £1,623,214) at year end.
 

17.


Controlling party

There is no overall controlling party of Super League (Europe) Limited
 
Page 20