Company registration number 03555364 (England and Wales)
HULL SUPER LEAGUE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
72 Lairgate
Beverley
East Yorkshire
United Kingdom
HU17 8EU
HULL SUPER LEAGUE LIMITED
CONTENTS
Page
Company information
1
Directors' report
2
Profit and loss account
3
Balance sheet
4 - 5
Notes to the financial statements
6 - 13
HULL SUPER LEAGUE LIMITED
COMPANY INFORMATION
- 1 -
Directors
R D Myler
(Appointed 16 May 2024)
A R Thirkill
(Appointed 10 December 2024)
D Hood
(Appointed 10 December 2024)
Company number
03555364
Registered office
Hull FC Office
MKM Stadium
Anlaby Road
Hull
East Yorkshire
England
HU3 6JU
Accountants
TC Group
72 Lairgate
Beverley
East Yorkshire
United Kingdom
HU17 8EU
HULL SUPER LEAGUE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 30 November 2024.

Principal activities

The principal activity of the company continued to be that of a professional Rugby League Club, known as Hull FC.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A F Pearson
(Resigned 10 December 2024)
J S Clark
(Resigned 3 June 2024)
R A Zoing
(Resigned 10 December 2024)
R D Myler
(Appointed 16 May 2024)
A R Thirkill
(Appointed 10 December 2024)
D Hood
(Appointed 10 December 2024)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A R Thirkill
Director
19 August 2025
HULL SUPER LEAGUE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
2024
2023
£
£
Turnover
6,256,100
6,162,483
Cost of sales
(5,710,818)
(6,221,517)
Gross profit/(loss)
545,282
(59,034)
Administrative expenses
(1,404,119)
(959,593)
Other operating income
25,875
84,597
Operating loss
(832,962)
(934,030)
Interest receivable and similar income
3,389
1,801
Interest payable and similar expenses
(110,141)
(135,797)
Loss before taxation
(939,714)
(1,068,026)
Tax on loss
66,962
90,262
Loss for the financial year
(872,752)
(977,764)
HULL SUPER LEAGUE LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 4 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
99,023
110,074
Investments
5
1
1
99,024
110,075
Current assets
Stocks
213,129
555,505
Debtors
6
638,581
486,624
Cash at bank and in hand
1,849
241,260
853,559
1,283,389
Creditors: amounts falling due within one year
7
(3,363,970)
(2,989,731)
Net current liabilities
(2,510,411)
(1,706,342)
Total assets less current liabilities
(2,411,387)
(1,596,267)
Creditors: amounts falling due after more than one year
8
(2,796,212)
(2,738,580)
Net liabilities
(5,207,599)
(4,334,847)
Capital and reserves
Called up share capital
820,400
820,400
Share premium account
52,600
52,600
Profit and loss reserves
(6,080,599)
(5,207,847)
Total equity
(5,207,599)
(4,334,847)
HULL SUPER LEAGUE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 5 -

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved by the board of directors and authorised for issue on 19 August 2025 and are signed on its behalf by:
A R Thirkill
Director
Company registration number 03555364 (England and Wales)
HULL SUPER LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
1
Accounting policies
Company information

Hull Super League Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hull FC Office, MKM Stadium, Anlaby Road, Hull, East Yorkshire, England, HU3 6JU.

1.1
Accounting convention

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

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Post year end the company was sold to new investors who have introduced funds to the enable the company to meet its ongoing commitments. Budgets & cash flows forecasts have been prepared which indicate that the company will be able to meet it's commitments as they come due in the coming year.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Season Pass income received in advance is recognised in line with the completion of each round of home fixtures. Amounts received in relation to future games are shown within deferred income.

Sponsorship income received ahead of the season for which it relates is recognised on a straight-line basis across the relevant season. Amounts received in relation to future seasons are shown within deferred income.

1.4
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.

HULL SUPER LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 7 -

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:

Leasehold improvements
Straight line over the life of the lease
Plant and equipment
25% on cost, 20% on cost and 10% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Investments are initially shown at cost. The investments are reviewed annually to determine if any impairment has occurred in which case the value is adjusted.

Investments relate to the holding of 1 share in Super League Europe Limited, details are shown in note 5 of the accounts.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

HULL SUPER LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 8 -
1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

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

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

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

Basic financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and other loans that are classified as debt, are initially recognised at transaction price.

 

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

1.10
Equity instruments

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

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

HULL SUPER LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 9 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15
Foreign exchange

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

HULL SUPER LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 10 -
2
Change in accounting policy

In prior years' financial statements the company has accounted for a players' valuation figure as an intangible fixed asset which was not amortised. The value in the financial statements for the year ended 30 November 2023 was £1,500,000. During the year ended 30 November 2024 the directors have decided to change this accounting policy so that this valuation is no longer recognised, and this has been accounted for as a prior period adjustment. The impact of this prior period adjustment is to eliminate the intangible fixed asset and revaluation reserve balances as at 30 November 2023 and 1 December 2022, both of which were £1,500,000. It has no impact on the company's profit and loss account.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
91
97
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
173,303
442,723
23,650
639,676
Additions
-
0
8,752
-
0
8,752
At 30 November 2024
173,303
451,475
23,650
648,428
Depreciation and impairment
At 1 December 2023
106,560
403,601
19,441
529,602
Depreciation charged in the year
8,056
10,695
1,052
19,803
At 30 November 2024
114,616
414,296
20,493
549,405
Carrying amount
At 30 November 2024
58,687
37,179
3,157
99,023
At 30 November 2023
66,743
39,122
4,209
110,074
HULL SUPER LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 11 -
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
1
1

The company holds one £1 ordinary share in Super League (Europe) Limited which represents 8.3% of the issued share capital. The financial statements of Super League (Europe) Limited disclose that its activities are to act as agents of each participating club in the promotion of Rugby League. The company receives a distribution each year from Super League (Europe) Limited based on the results of that company for the year, and that income is included within turnover.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
305,132
157,213
Other debtors
7,069
279,395
Prepayments and accrued income
326,380
50,016
638,581
486,624
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
23,563
5,580
Other borrowings
97,437
107,428
Trade creditors
1,463,419
1,270,213
Taxation and social security
211,273
162,996
Deferred income
1,276,780
1,095,455
Other creditors
112,348
17,785
Accruals
179,150
330,274
3,363,970
2,989,731
HULL SUPER LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 12 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,459
30,987
Other borrowings
2,770,753
2,707,593
2,796,212
2,738,580
Amounts included above which fall due after five years are as follows:
Payable by instalments
2,368,732
2,501,000
9
Financial commitments, guarantees and contingent liabilities

The company is committed to pay contractual obligations, relating to players' and coaches' contracts as follows: £8,991,000 (2023 - £3,961,000)

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
542,000
685,500
11
Related party transactions
2024
2023
Amounts due to related parties
£
£
Entity under common control
50,000
-

Loans between the connected companies are unsecured and interest free.

HULL SUPER LEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
11
Related party transactions
(Continued)
- 13 -

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
-
175,781

Loans between the connected companies are unsecured and interest free.

The amount loaned to the parent company increased by £88,994 during the year. The residual loan of

£264,775 was written off in the year under review.

12
Prior period adjustment
Reconciliation of changes in equity
1 December
30 November
2022
2023
£
£
Adjustments to prior year
Removal of player valuations
(1,500,000)
(1,500,000)
Equity as previously reported
(1,857,083)
(2,834,847)
Equity as adjusted
(3,357,083)
(4,334,847)
Analysis of the effect upon equity
Revaluation reserve
(1,500,000)
(1,500,000)
Reconciliation of changes in loss for the previous financial period
2023
£
Total adjustments
-
Loss as previously reported
(977,764)
Loss as adjusted
(977,764)
2024-11-302023-12-01falsefalsefalse27 August 2025CCH SoftwareCCH Accounts Production 2025.200The principal activity of the company continued to be that of a professional Rugby League Club, known as Hull FC.A F PearsonJ S ClarkR A ZoingR D MylerA R ThirkillD Hood035553642023-12-012024-11-3003555364bus:Director42023-12-012024-11-3003555364bus:Director52023-12-012024-11-3003555364bus:Director62023-12-012024-11-3003555364bus:Director12023-12-012024-11-3003555364bus:Director22023-12-012024-11-3003555364bus:Director32023-12-012024-11-3003555364bus:RegisteredOffice2023-12-012024-11-30035553642024-11-30035553642022-12-012023-11-30035553642023-11-3003555364core:LeaseholdImprovements2024-11-3003555364core:PlantMachinery2024-11-3003555364core:MotorVehicles2024-11-3003555364core:LeaseholdImprovements2023-11-3003555364core:PlantMachinery2023-11-3003555364core:MotorVehicles2023-11-3003555364core:CurrentFinancialInstrumentscore:WithinOneYear2024-11-3003555364core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3003555364core:Non-currentFinancialInstrumentscore:AfterOneYear2024-11-3003555364core:Non-currentFinancialInstrumentscore:AfterOneYear2023-11-3003555364core:CurrentFinancialInstruments2024-11-3003555364core:CurrentFinancialInstruments2023-11-3003555364core:Non-currentFinancialInstruments2024-11-3003555364core:Non-currentFinancialInstruments2023-11-3003555364core:ShareCapital2024-11-3003555364core:ShareCapital2023-11-3003555364core:SharePremium2024-11-3003555364core:SharePremium2023-11-3003555364core:RetainedEarningsAccumulatedLosses2024-11-3003555364core:RetainedEarningsAccumulatedLosses2023-11-3003555364core:LeaseholdImprovements2023-12-012024-11-3003555364core:PlantMachinery2023-12-012024-11-3003555364core:MotorVehicles2023-12-012024-11-3003555364core:LeaseholdImprovements2023-11-3003555364core:PlantMachinery2023-11-3003555364core:MotorVehicles2023-11-30035553642023-11-3003555364bus:PrivateLimitedCompanyLtd2023-12-012024-11-3003555364bus:SmallCompaniesRegimeForAccounts2023-12-012024-11-3003555364bus:FRS1022023-12-012024-11-3003555364bus:AuditExemptWithAccountantsReport2023-12-012024-11-3003555364bus:FullAccounts2023-12-012024-11-30xbrli:purexbrli:sharesiso4217:GBP