REGISTERED NUMBER: 00174692 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

WIGAN RUGBY LEAGUE CLUB LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Dr C Brookes (Chairman)

K J Radlinski M.B.E

B J Goodburn

L W Danson

REGISTERED OFFICE:

Robin Park Arena

Loire Drive

Wigan

Lancashire

WN5 0UH

REGISTERED NUMBER:

00174692 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditors

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

Barclays Bank PLC

1st Floor

3 Hardman Street

Spinningfields

Manchester

M3 3HF

FIXED ASSETS

Intangible assets

4

154,536

212,795

Tangible assets

5

1,189,516

2,322,553

Investments

6

1

1

1,344,053

2,535,349

CURRENT ASSETS

Stocks

468,038

365,164

Debtors

7

2,114,314

1,722,661

Cash at bank and in hand

366,547

296,603

2,948,899

2,384,428

CREDITORS

Amounts falling due within one year

8

5,248,594

13,815,512

NET CURRENT LIABILITIES

(2,299,695

)

(11,431,084

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(955,642

)

(8,895,735

)

CREDITORS

Amounts falling due after more than one year

9

13,909,270

1,672,627

NET LIABILITIES

(14,864,912

)

(10,568,362

)

CAPITAL AND RESERVES

Called up share capital

128,000

128,000

Revaluation reserve

11

-

1,363,618

Retained earnings

(14,992,912

)

(12,059,980

)

SHAREHOLDERS' FUNDS

(14,864,912

)

(10,568,362

)

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

K J Radlinski M.B.E - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The company remains reliant upon the continued financial support of its parent company, Wigan Sporting Club Limited, which has provided loan monies amounting to £12,477k, written assurances have been given that these monies will not become repayable within the foreseeable future.

The following decisions and actions have been taken by the directors to manage the working capital requirements of the company:

The Senior Management team are targeting revenue growth in all areas and are looking to control costs and overheads, where possible, whilst continuing to achieve a level of sporting excellence.

Profit and loss and cashflow forecasts have been prepared for 2024/25 and 2025/26, which indicate that, whilst operating losses may continue, working capital requirements will be met by additional loan financing from the parent company, Wigan Sporting Club Limited, who have confirmed their commitment to supply funding for the foreseeable future.

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

The financial statements include the results of the company's principal activity described in the Report of the Directors, which is continuing.

Turnover

Turnover represents income receivable from the company's principal activity of operating a professional rugby league club and is net of Value Added Tax. Match day revenue is recognised over the period of the rugby league season as games are played. Sponsorship and similar commercial income is recognised over the duration of the respective contracts.The fixed element of broadcasting revenues is recognised over the duration of the rugby league season whilst facility fees for live coverage or highlights are recognised as games are played.

Player registrations

Transfer fees for player registrations are capitalised as intangible fixed assets and are amortised on a straight line basis over the period of the respective players' contracts.

Transfer fees receivable are included in profit or loss in the period to which they relate.

Player registrations are assessed on an annual basis and impairment losses arising are charged to profit or loss in the period in which they arise. Any surpluses arising are not accounted for.

Intangible assets

Intangible assets comprising trademarks are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less depreciation and impairment. Depreciation of tangible fixed assets has been calculated so as to write off the cost or revalued amount less estimated residual value of each asset over its estimated useful life as follows:

Freehold property

- 2% per annum on straight line basis

Long leasehold property

- 2% per annum on straight line basis

Improvements to leasehold property

- 4% - 20% per annum on straight line basis

Fixtures and fittings

- 20% per annum on straight line basis

Computer equipment

- 33% per annum on straight line basis

Depreciation on freehold property

It is the company's policy to provide depreciation on freehold property on a straight line basis of 2%. However the directors consider the life of this asset and its residual value is such that depreciation in the current year would be immaterial, and hence no depreciation has been charged.

Impairment of tangible fixed assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset in prior periods. A reversal of an impairment loss is recognised immediately in the profit or loss.

Stocks

Stocks are measured at the lower of cost and selling price. Cost is measured at the most recent purchase price and other costs incurred in bringing the stocks to their present location and condition.

Taxation

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

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

Deferred tax

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

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

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

Leases

Rentals payable under operating leases are charged to the profit or loss on a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight line basis.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term employee benefits are recognised as an expense in the period in which they are incurred.

Financial instruments

Short term financial assets, including trade debtors are measured at transaction price less any impairment.

Short term financial liabilities, including trade creditors, are measured at transaction price. Group loans and associated undertaking loans (being repayable on demand) are measured at the undiscounted amount due.

Financial assets and liabilities payable after one year are initially measured at fair value and are measured subsequently at amortised cost using the effective interest rate method.

Fixed asset investments

Fixed asset investments are stated at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 162 (2023 - 119 ) .

4.	INTANGIBLE FIXED ASSETS

Player

registration

Trade

fees

marks

Totals

£

£

£

COST

At 1 December 2023

229,642

6,175

235,817

Additions

10,400

-

10,400

At 30 November 2024

240,042

6,175

246,217

AMORTISATION

At 1 December 2023

21,066

1,956

23,022

Amortisation for year

68,042

617

68,659

At 30 November 2024

89,108

2,573

91,681

NET BOOK VALUE

At 30 November 2024

150,934

3,602

154,536

At 30 November 2023

208,576

4,219

212,795

5.	TANGIBLE FIXED ASSETS

Improvements

to

Fixtures

Freehold

leasehold

and

Computer

property

property

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 December 2023

2,200,000

7,091

448,284

82,999

2,738,374

Additions

213,417

17,800

65,637

7,030

303,884

Impairments

(1,363,618

)

-

-

-

(1,363,618

)

Reclassification

-

(7,091

)

7,091

-

-

At 30 November 2024

1,049,799

17,800

521,012

90,029

1,678,640

DEPRECIATION

At 1 December 2023

-

6,594

340,929

68,298

415,821

Charge for year

-

297

63,892

9,114

73,303

Reclassification

-

(6,594

)

6,594

-

-

At 30 November 2024

-

297

411,415

77,412

489,124

NET BOOK VALUE

At 30 November 2024

1,049,799

17,503

109,597

12,617

1,189,516

At 30 November 2023

2,200,000

497

107,355

14,701

2,322,553

Cost or valuation at 30 November 2024 is represented by:

Improvements

to

Fixtures

Freehold

leasehold

and

Computer

property

property

fittings

equipment

Totals

£

£

£

£

£

Valuation in 2010

505,671

-

-

-

505,671

Valuation in 2011

300,000

-

-

-

300,000

Valuation in 2016

2,100,000

-

-

-

2,100,000

Valuation in 2018

(1,400,000

)

-

-

-

(1,400,000

)

Valuation in 2024

(1,363,618

)

-

-

-

(1,363,618

)

Cost

907,746

17,800

521,012

90,029

1,536,587

1,049,799

17,800

521,012

90,029

1,678,640

If freehold property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

907,746

694,329

Aggregate depreciation

274,769

260,882

The directors consider the estimated fair market value of the freehold property, being the training facilities at Edge Hall Road, Orrell, of £1.05 million as reasonable as at 30 November 2024, taking into account current economic factors and market conditions.

6.	FIXED ASSET INVESTMENTS

Participating

interests

£

COST

At 1 December 2023

and 30 November 2024

1

NET BOOK VALUE

At 30 November 2024

1

At 30 November 2023

1

The company holds 1 £1 ordinary share in Super League (Europe) Limited which represents 8.3% of the issued share capital. The financial statements of Super League (Europe) Ltd 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.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,199,460

907,379

Other debtors

914,854

815,282

2,114,314

1,722,661

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

654,346

633,569

Trade creditors

1,933,189

1,140,186

Taxation and social security

749,367

621,897

Other creditors

1,911,692

11,419,860

5,248,594

13,815,512

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

12,476,757

-

Other creditors

1,432,513

1,672,627

13,909,270

1,672,627

Amounts falling due in more than five years:

Repayable by instalments

Other loans

422,598

682,694

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

654,346

633,569

Amounts owed to parent company

12,476,757

9,495,469

13,131,103

10,129,038

Banking facilities are reviewed periodically and repayable on demand, subject to such reviews. Barclays Bank PLC has a fixed and floating charge over the assets of the company.

The loan from the parent company is secured by a debenture, has no fixed repayment date and any interest accruing for the period has been waived.

11.

RESERVES

Revaluation

reserve

£

At 1 December 2023

1,363,618

Revaluation/impairment

(1,363,618

)

At 30 November 2024

-

Retained earnings includes all current and prior retained profits and losses.

The revaluation reserve relates to the freehold property.

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

The Report of the Auditors was unqualified.

John B S Fairhurst BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

Material uncertainty related to going concern

Whilst the directors believe the company has adequate resources to continue in operational existence for the foreseeable future, it remains reliant upon the continued financial support of its parent company, Wigan Sporting Club Limited.The existence of operating losses, working capital requirements and reliance upon parent company loans indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

13.	CAPITAL COMMITMENTS

2024

2023

£

£

Contracted but not provided for in the

financial statements

213,417

-

14.	RELATED PARTY DISCLOSURES

Loans from group undertakings

During the year the company had loan transactions with Wigan Sporting Club Limited as follows: loans received of £3,432,999 (2023 - £2,126,170) and repaid of £451,711 (2023 - £133,461). At 30 November 2024 an amount of £12,476,757 (2023 - £9,495,469) was owed to Wigan Sporting Club Limited.

Loans to/(from) associated undertakings

During the year the company had loan transactions with associated companies as follows: loans paid of £307,450 (2023 - £640,762) and repaid of £Nil (2023 - £142,189). At 30 November 2024 there is an amount of £967,649 (2023 - £707,633) owed by associated undertakings.

Transactions withassociated undertakings

During the year the company has recharged wages and certain expenses totalling £698,650 (2023 - £416,921) and have paid rent and associated costs totalling £35,088 (2023 - £98,583) to associated undertakings. At 30 November 2024 an amount of £328,336 (2023 - £175,520) was owed to the company.