REGISTERED NUMBER: 14807568 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

HARLEQUIN WOMENS FOOTBALL CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Morgan

S J Pope

C D O Jillings

L E Dalrymple

REGISTERED OFFICE:

Twickenham Stoop Stadium

Langhorn Drive

Twickenham

Middlesex

TW2 7SX

REGISTERED NUMBER:

14807568 (England and Wales)

AUDITORS:

Lewis Brownlee (Chichester) Limited

Statutory Auditors

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Tangible assets

4

39,384

7,455

CURRENT ASSETS

Debtors: amounts falling due within one year

5

89,049

23,586

Cash at bank

12,819

10,867

101,868

34,453

CREDITORS

Amounts falling due within one year

6

71,008

39,146

NET CURRENT ASSETS/(LIABILITIES)

30,860

(4,693

)

TOTAL ASSETS LESS CURRENT LIABILITIES

70,244

2,762

CREDITORS

Amounts falling due after more than one year

7

2,981,071

1,420,099

NET LIABILITIES

(2,910,827

)

(1,417,337

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(2,910,828

)

(1,417,338

)

SHAREHOLDERS' FUNDS

(2,910,827

)

(1,417,337

)

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 17 December 2025 and were signed on its behalf by:

S J Pope - Director

1.	STATUTORY INFORMATION

Harlequin Womens Football 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.

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 pound.

The principal accounting policies adopted are set out below.

Harlequin Womens Football Club Limited is a wholly owned subsidiary of Harlequin FC Holdings Limited and the results of Harlequin Womens Football Club Limited are included in the consolidated financial statements of Harlequin FC Holdings Limited which are available from Twickenham Stoop Stadium, Langhorn Drive, Twickenham, Middlesex, United Kingdom, TW2 7SX.

Going concern

At the year end, the company reported net liabilities of £2,910,827 (2024: £1,417,337) which includes balances due to other group companies.

The group companies rely on support from the group's principal shareholder which has confirmed that the loans owed to it are not due for repayment until at least 30 June 2027. The group, as a whole, faces net current liabilities and overall net liabilities, including a significant amount due to Blue Sky Holdings Limited.

Blue Sky Holdings Limited has confirmed it intends to continue to provide financial support to enable the group to meet its obligations as they fall due, at least until 30 June 2027. The directors are confident that Blue Sky Holdings Limited has sufficient resources to provide a sufficient level of support, and based on this, the provision of a letter of support, as well as previous support provided, they consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustment that would arise if the going concern assumption was found to be inappropriate.

In approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue operating for the foreseeable future. In forming their expectation, the directors have considered the additional future funding requirements as outlined in the budgets and cash flow forecasts up to 30 June 2027. These forecasts are based on prudent estimates and assessments of uncertainties, alongside the availability of financial support from the group's principal shareholder. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts receivable net of VAT.

Turnover from the sale of goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer, the amount of turnover can be measured reliably, it is probable that the company will receive the consideration due under the transaction and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract, when the amount of turnover can be measured reliably, and it is probable that the company will receive the consideration due under the contract.

Deferred income

Deferred income, other than grants, represents amounts receivable in relation to membership over a period of time. It is released to profit or loss in the season to which it relates.

Investments

Harlequin Football Club Limited holds 14,750 ordinary £0.001 shares in Premier Women's Rugby Limited on behalf of Harlequin Womens Football Club Limited.

Harlequin Womens Football Club Limited is entitled to the income receivable from this investment and therefore recognises this within turnover.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Plant and machinery

-

20% on cost

Computer equipment

-

33% on cost

Financial instruments

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

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

Financial instruments 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 receivables 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 rate method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flow from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, including trade and other payables, bank and other loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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

Derecognition of financial liabilities

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

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Leasing commitments

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

Pension costs and other post-retirement 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.

Employee benefits

The cost of short-term employee benefits are recognised as a liability and an expense.

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2024 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2024

-

9,128

-

9,128

Additions

8,310

26,388

1,124

35,822

At 30 June 2025

8,310

35,516

1,124

44,950

DEPRECIATION

At 1 July 2024

-

1,673

-

1,673

Charge for year

1,662

1,887

344

3,893

At 30 June 2025

1,662

3,560

344

5,566

NET BOOK VALUE

At 30 June 2025

6,648

31,956

780

39,384

At 30 June 2024

-

7,455

-

7,455

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

9,983

47

Other debtors

79,066

23,539

89,049

23,586

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

18,103

1,263

Other creditors

52,905

37,883

71,008

39,146

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

2,981,071

1,420,099

8.	LEASING AGREEMENTS

At the balance sheet date, the company had total commitments under non-cancellable operating leases of £Nil (2024: £14,146).

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

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lewis Brownlee (Chichester) Limited

10.	RELATED PARTY DISCLOSURES

Group company

98% subsidiary of the immediate parent entity

At the year end £100,832 (2024: £82,670) was owed to a group company, bearing interest at 4.5% per annum, with a term of not less than 12 months notice for repayment.

There are shared operational income and costs between Harlequin Football Club Limited and Harlequin Womens Football Club Limited including, but not limited to, the use of the stadium, which are not recharged as a reliable and reasonable estimate cannot be made.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors of Somers Isles Private Trust Company Ltd.

The ultimate parent company of Harlequin Football Club Limited is Prime Life Common Fund Limited, a company domiciled in Bermuda.

The results of Harlequin Womens Football Club Limited are consolidated into their immediate parent, Harlequin FC Holdings Limited, a company registered and domiciled in England and Wales. Consolidated financial statements are available from Harlequin FC Holdings Limited, Twickenham Stoop Stadium, Langhorn Drive, Twickenham, Middlesex, TW2 7SX.