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Registered number: 03875497 SPORTING CLUB ST. HELENS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
SPORTING CLUB ST. HELENS LIMITED COMPANY INFORMATION
Directors | D Coleman
| M Coleman
| M Fairhurst (appointed 7 February 2025)
| K Marren
| R Mccormack
| E Mcmanus
| J Nicholl
| J Hartley (resigned 21 November 2025)
Company secretary | P Smallshaw
Registered number | 03875497
Registered office | St Helens RFC Stadium
| Mcmanus Drive
| St. Helens
| Merseyside
| WA9 3AL
Independent auditors | WR Partners
| Chartered Accountants & Statutory Auditors
| 3 Royal Court
| Gadbrook Way
| Gadbrook Park
| Northwich
| Cheshire
| CW9 7UT
SPORTING CLUB ST. HELENS LIMITED CONTENTS
| Page
Group strategic report | 1 - 3
Directors' report | 4 - 7
Independent auditors' report | 8 - 11
Consolidated statement of comprehensive income | 12
Consolidated balance sheet | 13 - 14
Company balance sheet | 15
Consolidated statement of changes in equity | 16
Company statement of changes in equity | 17
Consolidated statement of cash flows | 18
Consolidated analysis of net debt | 19
Notes to the financial statements | 20 - 38
SPORTING CLUB ST. HELENS LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 OCTOBER 2025
Introduction
The directors present the strategic report for the year ended 31 October 2025.
Strategic objectives
To continue as one of the world's leading professional rugby league clubs and also to maximise non-rugby related revenue streams available to the club as a result of its ownership of its, wholly-owned, stadium facility.
Business review
The 2025 season was another difficult season for the club. A league position of fifth then saw us eliminated in the semi-final of the play offs by Hull KR. The St Helens women’s team lost out in both the Grand Final and the Challenge Cup Final and continued to evolve professionally. Home Gate receipts were comparable to 2024 but in general there was a drop off in visiting fans presumably a result of all games being televised. Super League distributions remained flat despite all games being televised. Retail sales were down but Non Match day Hospitality and Events continued at around the same levels. Hosting Liverpool Women’s Football Team for a full season generates additional margin. Total revenues rose 3% from £8,581,390 in 2024 to £8,876,350 in 2025. Operating losses decreased from £3,554,463 to £3,459,279 in 2025. Costs have increased across all of the teams and the stadium as well as the impact of the national minimum wage, business rates and employers national insurance contributions. We continually look at ways to control and reduce our costs. Earnings before interest, taxation, depreciation and amortisation improved marginally from a loss of £2,559,952 in 2024 to a loss of £2,483,001 in 2025. Net assets decreased from £6,906,257 in 2024 to £3,701,901 in 2025. Debtors and cash are £964,929 (2024 - £980,069). Page 1
SPORTING CLUB ST. HELENS LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025
Principal risks and uncertainties
The principal risk of the Group is an adverse performance on the pitch, and its subsequent effect on income streams. The Group believe that they have in place the appropriate facilities and staff to ensure that the team continues to challenge in all competitions. Energy prices are a major concern as there is no way to pass on these increased costs without impacting attendances for both match and non-match day activity. Support funding received from the Department of Culture, Media and Sport (DCMS) for the sport of rugby league in 2020 started to be repaid including the interest from July 2023. Credit risk It is the Group's policy that customers who wish to trade on credit terms are subject to credit verification procedures. Receivable balances are monitored on an ongoing basis and action is taken promptly when payment terms are breached. Interest rate risk The Group has a fixed rate of interest on its loans from RFL Investments Ltd. All other financial instruments are non-interest bearing. Liquidity risk The Board monitors monthly cash forecasts prepared by management based on historic trading levels and expected future trading levels. Costs are constantly reviewed and capital investment is closely controlled. Foreign currency risk The group trades primarily in the UK and as such the level of foreign currency risk is quite low.
Financial key performance indicators
The key performance indicators are operating profit/(loss) and the net assets figure. These indicators are disclosed in the financial statements on pages 12 and 13 respectively and discussed in the business review above.
Other key performance indicators
In line with all rugby league clubs, we are subject to IMG Grading of which we are Grade A (2024 - Grade A). Whilst our average home attendance has fallen slightly to 9,491 from 9,966, our Social Media followers have increased from 277,260 to 295,505 and engagements have increased from 32 million to nearly 37 million. Our non-centralised turnover has increased to 86% of total turnover (2024 - 82%). Page 2
SPORTING CLUB ST. HELENS LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025
Directors' statement of compliance with duty to promote the success of the Group
The mission of St Helens RFC is to be a successful rugby league club regularly competing in, and winning, the competitions in which they participate. The directors have a duty to promote the success of the company for the benefit of its employees and key stakeholders. Stakeholders The directors actively engage with stakeholders of the group to create positive relationships. Our key stakeholders include our employees who are at the centre of our business, working to achieve our aims. Members and supporters in the wider St Helens community are key to the Group, and ensuring they receive a positive experience whenever they visit the stadium is key to the business. Customers A main focus of St Helens RFC is to achieve excellent customer service. Some of our customers are also sponsors with whom we have developed long standing relationships, built on openness and quality of service. The directors and employees continue to promote these relationships with a view to ensuring the long-term success of the business. Suppliers We work closely with our suppliers, many of whom are based within the St Helens community. The directors believe it is important to create positive relationships with local businesses where many employees of such businesses are also supporters. St Helens community The directors recognise that the Group is at the centre of the St Helens community and consideration is given to the effect on the community and the environment of prospective decisions before they are taken. The Group is one of the largest employers in the area and the directors recognise their responsibility to the town. Decision making Key decisions are presented to the Board at executive meetings by the management team. Directors are briefed on any possible risks to the business or any of its stakeholders and how they are to be managed. The Directors take these factors into account before making a final decision which they believe to be in the best interests of the Group. Sustainability The directors and senior management focus on the long-term sustainability of the Group when making business decisions in order to ensure stable returns. The Board annually reviews and approves a three-year strategic plan and performance against this is reviewed in the year. The potential impact and risks to individual stakeholders of the plan are highlighted to the Board. This is to ensure that the Group is conducting all business relationships with integrity. This report was approved by the board on 26 May 2026 and signed on its behalf.
E Mcmanus Director
Page 3
SPORTING CLUB ST. HELENS LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 OCTOBER 2025 The directors present their report and the financial statements for the year ended 31 October 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Group's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal activity
The principal activity of the Group continued to be that of a professional rugby league club and hospitality venue. The principal activity of the Company continued to be that of a holding company.
Results and dividends
The loss for the year, after taxation, amounted to £3,369,718 (2024 - loss £1,921,533). No ordinary dividends were paid in the current or prior period. The directors do not recommend payment of a final dividend.
Directors
The directors who served during the year were:
D Coleman
M Coleman
M Fairhurst (appointed 7 February 2025)
K Marren
R Mccormack
E Mcmanus
J Nicholl
J Hartley (resigned 21 November 2025)
Page 4
SPORTING CLUB ST. HELENS LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025
Future developments
Given that central distributions are unlikely to dramatically increase in the short term, the club will focus on improving operational revenues as well as reviewing and rationalising its costs. Given the brand of rugby league and the quality of the clubs facilities and stadium, it is relatively well placed to improve its financial performance and position over the longer term.
Research and development activities
Research and development is in biomechanics and is based on qualifying costs.
Engagement with employees
The Group encourages the involvement of its employees in its management through regular meetings for the dissemination of information of particular concern to employees, including the financial and economic factors affecting the performance of the company and for receiving their views on important matters of policy. The club management team meet monthly and hold meetings with staff both pre and post all games to ensure good communication is maintained. Key messages and policy communications are conducted via team briefings and the club undertakes a staff appraisal system to create an environment where two-way communication is encouraged and good working practices are communicated and reviewed with employees and their managers.
Engagement with suppliers, customers and others
In accordance with section 172 of the Companies Act, the Group has a requirement to report on a need to foster the Group's business relationships with suppliers, customers and others. The relationships are considered in the decision making of the Group, the details of which are included in the strategic report.
Disabled employees
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Group continues and that the appropriate training is arranged. It is the policy of the Group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees. Page 5
SPORTING CLUB ST. HELENS LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025
Greenhouse gas emissions, energy consumption and energy efficiency action
The Group's greenhouse gas emissions and energy consumption are as follows:
|  |  |  | 2025 | 2024
Emissions resulting from activities for which the Group is responsible involving the combustion of gas or consumption of fuel for the purposes of transport (in tonnes of CO2 equivalent) | 36.8 | 72.3
Emissions resulting from the purchase of the electricity by the Group for its own use, including the purposes of transport (in tonnes of CO2 equivalent) | 155.7 | 164.7
Energy consumed from activities for which the Group is responsible involving the combustion of gas, or the consumption of fuel for the purposes of transport, and the annual quantity of energy consumed resulting from the purchase of electricity by the Group for its own use, including for the purposes of transport, in kWh | 1,533,787 | 1,741,912
The Group is reviewing half hour energy usage and changing as many light fittings as possible to LED to reduce energy usage. Options around Solar power and EV points are also being investigated. Intensity measurement The chosen intensity measurement ration is total gross emissions in metric tonnes CO2e per employee, the recommended ratio for the sector.
Intensity ratio
| 2025 | 2024
| £ | £
Tonnes CO2e per employee | 0.32 | 0.42
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Group since the year end.
Auditors
The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. Page 6
SPORTING CLUB ST. HELENS LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 This report was approved by the board on 26 May 2026 and signed on its behalf.
E Mcmanus Director
Page 7
SPORTING CLUB ST. HELENS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTING CLUB ST. HELENS LIMITED
Opinion
We have audited the financial statements of Sporting Club St. Helens Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 October 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated analysis of net debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Group's and of the Parent Company's affairs as at 31 October 2025 and of the Group's loss for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 8
SPORTING CLUB ST. HELENS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTING CLUB ST. HELENS LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or ∙the Parent Company financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit. Page 9
SPORTING CLUB ST. HELENS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTING CLUB ST. HELENS LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Group and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, health and safety regulations and UK General Data Protection Regulation. We understood how the Group is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. The audit team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, consideration of management bias in relation to key estimates, and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business. We tested a sample of revenue transactions recorded in the year and either side of the year end to determine whether there was any evidence of material mistatement due to fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. Page 10
SPORTING CLUB ST. HELENS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPORTING CLUB ST. HELENS LIMITED (CONTINUED)
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our 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. Fran Johnson BSc BFP FCA (Senior statutory auditor) for and on behalf of WR Partners Chartered Accountants Statutory Auditors 3 Royal Court Gadbrook Way Gadbrook Park Northwich Cheshire CW9 7UT 2 June 2026 Page 11
SPORTING CLUB ST. HELENS LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 OCTOBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 8,876,350 | 8,581,390
Gross profit |  | 8,876,350 | 8,581,390
Administrative expenses |  | (12,335,629) | (12,135,853)
Operating loss | 5 | (3,459,279) | (3,554,463)
Interest receivable and similar income | 8 | - | 3,903
Interest payable and similar expenses | 9 | (45,921) | (50,383)
Loss before taxation |  | (3,505,200) | (3,600,943)
Tax on loss | 10 | 135,482 | 1,679,410
Loss for the financial year |  | (3,369,718) | (1,921,533)
Total comprehensive income for the year attributable to: |  |  |
Owners of the Parent Company |  | (3,369,718) | (1,921,533)
|  | (3,369,718) | (1,921,533)
The notes on pages 20 to 38 form part of these financial statements.
Page 12
SPORTING CLUB ST. HELENS LIMITED REGISTERED NUMBER: 03875497 CONSOLIDATED BALANCE SHEET AS AT 31 OCTOBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 12 |  | 31,070,613 |  | 31,784,317
Investments | 13 |  | 2 |  | 2
|  |  | 31,070,615 |  | 31,784,319
Current assets |  |  |  |  |
Stocks | 15 | 143,525 |  | 166,447 |
Debtors: amounts falling due after more than one year | 16 | 48,908 |  | 139,259 |
Debtors: amounts falling due within one year | 16 | 670,891 |  | 722,077 |
Cash at bank and in hand | 17 | 245,130 |  | 118,733 |
|  | 1,108,454 |  | 1,146,516 |
Creditors: amounts falling due within one year | 18 | (21,052,149) |  | (18,201,799) |
Net current liabilities |  |  | (19,943,695) |  | (17,055,283)
Total assets less current liabilities |  |  | 11,126,920 |  | 14,729,036
Creditors: amounts falling due after more than one year | 19 |  | (1,637,340) |  | (1,869,738)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 22 | (5,787,679) |  | (5,953,041) |
|  |  | (5,787,679) |  | (5,953,041)
Net assets |  |  | 3,701,901 |  | 6,906,257
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 482,502 |  | 482,502
Share premium account | 24 |  | 6,140,229 |  | 6,140,229
Revaluation reserve | 24 |  | 16,176,978 |  | 16,680,380
Other reserves | 24 |  | (11,451) |  | (11,451)
Profit and loss account | 24 |  | (19,086,357) |  | (16,385,403)
|  |  | 3,701,901 |  | 6,906,257
Page 13
SPORTING CLUB ST. HELENS LIMITED REGISTERED NUMBER: 03875497 CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 May 2026.
E Mcmanus
Director
The notes on pages 20 to 38 form part of these financial statements. Page 14
SPORTING CLUB ST. HELENS LIMITED REGISTERED NUMBER: 03875497 COMPANY BALANCE SHEET AS AT 31 OCTOBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 13 |  | 18,450 |  | 18,450
|  |  | 18,450 |  | 18,450
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 16 | 25,983,033 |  | 22,773,270 |
Cash at bank and in hand | 17 | 2 |  | 2 |
|  | 25,983,035 |  | 22,773,272 |
Creditors: amounts falling due within one year | 18 | (19,390,038) |  | (16,180,275) |
Net current assets |  |  | 6,592,997 |  | 6,592,997
Total assets less current liabilities |  |  | 6,611,447 |  | 6,611,447
Net assets |  |  | 6,611,447 |  | 6,611,447
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 482,502 |  | 482,502
Share premium account | 24 |  | 6,140,229 |  | 6,140,229
Other reserves | 24 |  | (11,284) |  | (11,284)
|  |  | 6,611,447 |  | 6,611,447
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 May 2026.
E Mcmanus
Director
The notes on pages 20 to 38 form part of these financial statements. Page 15

|  | SPORTING CLUB ST. HELENS LIMITED |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 OCTOBER 2025
|  | Called up share capital | Share premium account | Revaluation reserve | Other reserves | Profit and loss account | Total equity
|  | £ | £ | £ | £ | £ | £
| At 1 November 2023 | 482,502 | 6,140,229 | 17,330,419 | (11,451) | (15,113,909) | 8,827,790
| Loss for the year | - | - | - | - | (1,921,533) | (1,921,533)
| Transfer to/from profit and loss account | - | - | (650,039) | - | 650,039 | -
| At 1 November 2024 | 482,502 | 6,140,229 | 16,680,380 | (11,451) | (16,385,403) | 6,906,257
| Loss for the year | - | - | - | - | (3,369,718) | (3,369,718)
| Deferred tax adjustment on revalued amount | - | - | 165,362 | - | - | 165,362
| Transfer to/from profit and loss account | - | - | (668,764) | - | 668,764 | -
| At 31 October 2025 | 482,502 | 6,140,229 | 16,176,978 | (11,451) | (19,086,357) | 3,701,901
| The notes on pages 20 to 38 form part of these financial statements.
Page 16

|  | SPORTING CLUB ST. HELENS LIMITED |
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 OCTOBER 2025
|  | Called up share capital | Share premium account | Other reserves | Total equity
|  | £ | £ | £ | £
| At 1 November 2023 | 482,502 | 6,140,229 | (11,284) | 6,611,447
| At 1 November 2024 | 482,502 | 6,140,229 | (11,284) | 6,611,447
| At 31 October 2025 | 482,502 | 6,140,229 | (11,284) | 6,611,447
| The notes on pages 20 to 38 form part of these financial statements.
Page 17

SPORTING CLUB ST. HELENS LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Loss for the financial year | (3,369,718) | (1,921,533)
Adjustments for: |  |
Depreciation of tangible assets | 976,278 | 994,511
Loss on disposal of tangible assets | - | 23,621
Interest payable | 45,921 | 50,383
Interest receivable | - | (3,903)
Taxation charge | (135,482) | (1,679,410)
Decrease/(increase) in stocks | 22,922 | (37,211)
Decrease in debtors | 141,537 | 134,706
Decrease in creditors | (247,613) | (259,611)
Corporation tax received | 135,482 | 134,698
Net cash generated from operating activities | (2,430,673) | (2,563,749)
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (152,570) | (126,756)
Sale of tangible fixed assets | - | 1,301
Interest received | - | 3,903
Net cash from investing activities | (152,570) | (121,552)
Cash flows from financing activities |  |
Other new loans | 3,073,810 | 3,008,395
Repayment of other loans | (308,209) | (302,111)
Repayment of/new finance leases | (10,040) | (5,360)
Interest paid | (45,921) | (50,383)
Net cash used in financing activities | 2,709,640 | 2,650,541
Net increase/(decrease) in cash and cash equivalents | 126,397 | (34,760)
Cash and cash equivalents at beginning of year | 118,733 | 153,493
Cash and cash equivalents at the end of year | 245,130 | 118,733
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 245,130 | 118,733
| 245,130 | 118,733
Page 18
SPORTING CLUB ST. HELENS LIMITED CONSOLIDATED ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 OCTOBER 2025
| At 1 November 2024 | Cash flows | At 31 October 2025
| £ | £ | £
Cash at bank and in hand | 118,733 | 126,394 | 245,127
Debt due after 1 year | (1,867,757) | 314,417 | (1,553,340)
Debt due within 1 year | (16,488,484) | (3,080,019) | (19,568,503)
Finance leases | (10,020) | (99,960) | (109,980)
| (18,247,528) | (2,739,168) | (20,986,696)
The notes on pages 20 to 38 form part of these financial statements.
Page 19
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. | General information
Sporting Club St. Helens Limited ("the Company") is a private company limited by shares and is registered, domiciled and incorporated in England and Wales. The registered office is St Helens RFC Stadium, Mcmanus Drive, St Helens, Merseyside, WA9 3AL. The Group consists of Sporting Club St. Helens Limited and its subsidiary. The Company's and the Group's principal activities and nature of its operations are disclosed in the Directors' Report. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3). The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases. Page 20
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.3 | Going concern
Due to the impact of COVID 19 on Rugby League the Group previously received £2.6m of loans provided by the government as specific support to the sport of rugby league. These loans attracted interest from May 2021 and interest and loan repayments commenced in July 2023 over an eight year period. The annual cost of servicing these loans is £348,914. Rugby League operates in an increasingly competitive market along with other sports. Against this background the Governing Body and the Club strive to maintain and increase both the attendances and income streams. The hospitality sector continues to grow. The Group has modelled moderate increases in sponsorship and hospitality levels and that loans will be repaid in line with the above terms, but have also sensitised the forecasts to consider severe but plausible downside scenarios in which the level of income falls. The ultimate parent, Crowther Street Holdings Limited has confirmed it will provide financial support to the Group for a period of at least 12 months from the date of signing these financial statements. The directors have satisfied themselves that Crowther Street Holdings Limited are able to provide any support needed, including that required in the downside scenarios mentioned above. As a result, the directors believe it is appropriate to continue to prepare the accounts using the going concern assumption.
| 2.4 | Revenue
Prize money is dependent on where the club has finished in the major competitions and the league. It is accounted for in the season to which it relates. Gate receipts relate to the proceeds taken at turnstiles for each game and the season ticket sales for the season. Any prepaid season ticket sales are included within deferred income. Future credits against season tickets are recognised as deferred income. The sale of players relates to players sold who were under contract to the club. The income is accounted for when the sale contract is agreed. Television fees relate to the payments for television coverage from Sky and the BBC. It is accounted for on an accrual basis. Sponsorship, advertising, and hospitality is accounted for in the season to which it relate. Any prepaid sales are included within deferred income. Merchandising relates to shop sales and it is accounted for on a receipts basis. Lottery donations are accounted for on a receipts basis. All of the above items exclude value-added tax and are recorded at the fair value of the consideration receivable. Page 21
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.5 | Operating leases: the Group as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.9 | Pensions
Defined contribution pension plan The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds. Page 22
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.10 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. 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. Page 23
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.11 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:. Depreciation is provided on the following basis:
|  |  |  | Long-term leasehold property | - | over 50 years
|  |  |  | Plant and machinery | - | at 10% and 20% on reducing balance
|  |  |  | Computer equipment | - | at 20% and 33% on reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.12 | Revaluation of tangible fixed assets
The long-term leasehold property (stadium) is revalued periodically. In the intervening years, the directors consider if there has been a material change to the valuation and if so, would carry out a directors valuation. The useful life of the Long-term leasehold property is deemed to be 50 years. Upon revaluation the revalued amount is depreciated over the remaining useful economic life. At the year end, this was 35 years. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.13 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Page 24
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.14 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.15 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.16 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
| 2.17 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.18 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 25
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the group's accounting policies, the directors are required to make judgments, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period, or in the period of the revision and future periods where the revision affects both current and future periods. In the opinion of the directors, there are no material judgments that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities. Valuation of land and buildings The main estimates applied in preparing these financial statements concern the carrying value of the company's leasehold land and buildings. The basis on which this has been reflected in these statements is set out in note 12.
4. | Turnover (Group)
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Rugby and football related income | 7,045,058 | 6,676,025
| Catering and hospitality | 1,831,292 | 1,905,365
|  | 8,876,350 | 8,581,390
Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 8,876,350 | 8,581,390
5. | Operating loss (Group)
| The operating loss (group) is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Research & development costs | 478,408 | 693,580
| Other operating lease rentals | 240,890 | 228,215
| Depreciation of tangible fixed assets | 976,278 | 994,511
Page 26
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
6. | Auditors' remuneration
| During the year, the Group obtained the following services from the Company's auditors and their associates:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Group's auditors and their associates for the audit of the consolidated and parent Company's financial statements | 3,500 | 3,250
| Fees payable to the Company's auditors and their associates in respect of: |  |
| The auditing of accounts of subsidiary of the Group | 21,950 | 20,250
| Taxation compliance services | 1,900 | 1,700
| Fees payable to the Company's auditors and their associates in connection with the Group's pension scheme(s) in respect of: |  |
| All non-audit services | 3,500 | 3,100
7. | Employees
| Staff costs were as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Wages and salaries | 5,721,606 | 5,539,662
| Social security costs | 598,419 | 531,737
| Cost of defined contribution scheme | 60,954 | 60,971
|  | 6,380,979 | 6,132,370
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Playing and coaching staff | 76 | 75
|  | General staff | 48 | 57
|  | Catering and stewards | 485 | 433
|  |  | 609 | 565
| The directors did not receive any remuneration during the year (2024 - £NIL).
Page 27
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
8. | Interest receivable (Group)
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | - | 3,903
9. | Interest payable and similar expenses (Group)
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest payable | 45,921 | 50,383
10. | Taxation (Group)
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Research and development tax credit | (135,482) | -
|  | (135,482) | -
| Total current tax | (135,482) | -
| Deferred tax |  |
| Recognition of tax losses previously unrecognised | - | (1,679,410)
| Total deferred tax | - | (1,679,410)
| Tax on loss | (135,482) | (1,679,410)
Page 28
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 10.Taxation (Group) (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Loss on ordinary activities before tax | (3,505,200) | (3,600,943)
| Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | (876,300) | (900,236)
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 27,376 | 8,549
| Capital allowances for year in excess of depreciation | 176,177 | 212,288
| Increase or decrease in pension fund creditor leading to an increase (decrease) in tax | - | (3,656)
| Unrelieved tax losses carried forward | 672,747 | (996,355)
| Research and development tax credit | (135,482) | -
| Total tax charge for the year | (135,482) | (1,679,410)
| Factors that may affect future tax charges
The Group has £13,115,454 (2024 - £13,115,454) of trading losses, all of which arose prior to April 2017, that have not been recognised as the timing of crystallisation is uncertain.
11. | Parent company profit for the year
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The profit after tax of the parent Company for the year was £ (2024 - £NIL). Page 29
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
12. | Tangible fixed assets
| Group
|  | Long-term leasehold property | Plant and machinery | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 November 2024 | 31,760,000 | 2,237,469 | 395,034 | 34,392,503
| Additions | - | 253,064 | 9,510 | 262,574
| At 31 October 2025 | 31,760,000 | 2,490,533 | 404,544 | 34,655,077
| Depreciation |  |  |  |
| At 1 November 2024 | 857,520 | 1,379,884 | 370,782 | 2,608,186
| Charge for the year on owned assets | 857,520 | 98,957 | 7,595 | 964,072
| Charge for the year on financed assets | - | 12,206 | - | 12,206
| At 31 October 2025 | 1,715,040 | 1,491,047 | 378,377 | 3,584,464
| Net book value |  |  |  |
| At 31 October 2025 | 30,044,960 | 999,486 | 26,167 | 31,070,613
| At 31 October 2024 | 30,902,480 | 857,585 | 24,252 | 31,784,317
| At 31 October 2025, the Group held assets under hire purchase agreements at a cost of £153,400 (2024 - £13,400) with a net book value of £136,854 (2024 - £12,060). Depreciation has been charged in the year of £12,206 (2024: £1,340).
The leasehold land and buildings were valued at 31 October 2023 to a value of £31,760,000 based on a depreciated replacement cost by M.A. King Consulting, a firm of independent Chartered Surveyors, in accordance with the Royal Institution of Chartered Surveyors. M.A. King Consulting are not connected with the Group. Page 30
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 12.Tangible fixed assets (continued)
| If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Group |  |
| Cost | 7,984,483 | 7,984,483
| Accumulated depreciation | (1,572,933) | (1,394,833)
| Net book value | 6,411,550 | 6,589,650
13. | Fixed asset investments
| Group
|  | Unlisted investments
|  | £
| Cost or valuation |
| At 1 November 2024 | 2
| At 31 October 2025 | 2
| Unlisted investments are the Group's share in Super League (Europe) Limited.
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 November 2024 | 18,450
| At 31 October 2025 | 18,450
Page 31
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
14. | Subsidiary undertaking
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| St Helens Rugby Football Club | St Helens RFC Stadium, Mcmanus Drive, St Helens, Merseyside, WA9 3AL | Ordinary | 100%
| The aggregate of the share capital and reserves as at 31 October 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:
| Name
15. | Stocks
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Finished goods and goods for resale | 143,525 | 166,447
|  | 143,525 | 166,447
| The difference between purchase price or production cost of stocks and their replacement cost is not material.
Page 32
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
16. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Due after more than one year |  |  |  |
| Trade debtors | - | 90,351 | - | -
| Other debtors | 48,908 | 48,908 | - | -
|  | 48,908 | 139,259 | - | -
| Due within one year |  |  |  |
| Trade debtors | 345,195 | 449,481 | - | -
| Amounts owed by group undertakings | - | - | 25,983,033 | 22,773,270
| Other debtors | 142,700 | 95,817 | - | -
| Prepayments and accrued income | 182,996 | 176,779 | - | -
|  | 719,799 | 861,336 | 25,983,033 | 22,773,270
| Amounts owed by group undertakings are repayable on demand and are not subject to interest.
17. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 245,130 | 118,733 | 2 | 2
|  | 245,130 | 118,733 | 2 | 2
18. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Other loans | 19,704,468 | 16,488,484 | 19,390,038 | 16,180,275
| Trade creditors | 358,132 | 545,094 | - | -
| Other taxation and social security | 301,058 | 294,819 | - | -
| Obligations under finance lease and hire purchase contracts | 25,980 | 8,040 | - | -
| Other creditors | 47,256 | 122,397 | - | -
| Accruals and deferred income | 615,255 | 742,965 | - | -
|  | 21,052,149 | 18,201,799 | 19,390,038 | 16,180,275
Page 33
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
19. | Creditors: Amounts falling due after more than one year
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Other loans | 1,553,340 | 1,867,758
| Net obligations under finance leases and hire purchase contracts | 84,000 | 1,980
|  | 1,637,340 | 1,869,738
| The following liabilities were secured:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Payable within one year | 314,430 | 308,209
| Payable after one year | 1,553,340 | 1,867,758
|  | 1,867,770 | 2,175,967
| Details of security provided:
Other loans are secured by a charge over all the assets and undertakings of St Helens Rugby Football Club Limited. Other borrowings consist of loans from RFL Investments Limited, which are part of a package of government support measures. The loan attracts interest at 2%. The loans are due to be fully repaid by April 2031. Interest and arrangement fees of £87,508 (2024 - £46,803) have been accrued at year end.
| The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Repayable by instalments | 230,859 | 571,442
|  | 230,859 | 571,442
Page 34
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
20. | Loans
| Analysis of the maturity of loans is given below:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Amounts falling due within one year |  |  |  |
| Other loans | 19,704,468 | 16,488,484 | 19,390,038 | 16,180,275
| Amounts falling due 1-2 years |  |  |  |
| Other loans | 320,777 | 314,430 | - | -
| Amounts falling due 2-5 years |  |  |  |
| Other loans | 1,001,704 | 981,886 | - | -
| Amounts falling due after more than 5 years |  |  |  |
| Other loans | 230,859 | 571,442 | - | -
|  | 21,257,808 | 18,356,242 | 19,390,038 | 16,180,275
| Other loans include amounts due to Crowther Street Holdings Limited, a shareholder of the Company. The total balance payable to Crowther Street Holdings Limited at 31 October 2025 is £16,697,843 (2024 - £13,758,082). The loan does not attract interest and is due for repayment on demand. Partial or full repayment of the loan can be made in multiples of £250,000. The loan is convertible into ordinary shares of the company at the option of the lender. Arrangement fees of £135,961 (2024 - £72,816) have been charged during the year. The loan from Crowther Street Holdings Limited is secured by a debenture over all of the assets and undertakings of Sporting Club St. Helens Limited and its subsidiary, St Helens Rugby Football Club Limited. Other loans include amounts due to persons connected with a shareholder of Sporting Club St. Helens Limited. The balance payable to the persons connected with a shareholder is £2,422,194 (2024 - £2,422,194). The loan does not attract interest and is technically due for repayment on demand. Other loans also include a loan of £1,867,770 at 31 October 2025 (2024 - £2,175,967). The loan attracts interest at 2%. The loans are due to be fully repaid by April 2031. Interest and arrangement fees of £87,508 (2024 - £46,803) have been accrued at year end. The loan is secured by a charge over all the assets and undertakings of St Helens Rugby Football Club Limited.
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SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
21. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Within one year | 25,980 | 8,040
| Between 1-5 years | 84,000 | 1,980
|  | 109,980 | 10,020
22. | Deferred taxation
| Group
|  | 2025
|  | £
| At beginning of year | (5,953,041)
| Release of revaluation provision | 165,362
| At end of year | (5,787,679)
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Accelerated capital allowances | (186,510) | (186,510)
| Tax losses carried forward | 1,701,274 | 1,701,274
| Rolled over gains | (1,390,924) | (1,390,924)
| Revaluations | (5,912,846) | (6,078,208)
| Short-term timing differences | 1,327 | 1,327
|  | (5,787,679) | (5,953,041)
| There is a significant balance related to rolled over gains, the timing of the crystallisation which is uncertain.
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SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
23. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 482,502 (2024 - 482,502) Ordinary shares of £1.00 each | 482,502 | 482,502
24. | Reserves
Share premium account Consideration received for shares issued above their nominal value net of transaction costs. Revaluation reserve The cumulative revaluation gains and losses in respect of land and buildings, except revaluation gains and losses recognised in profit or loss, net of respective deferred tax. Other reserves The acquisition of St Helens Rugby Football Club Limited was achieved by a share for share exchange and therefore merger accounting principles were adopted. An amount of £11,451, which represents the excess nominal value of the shares issued over the nominal value of the shares acquired in St Helens Rugby Football Club Limited was charged to other reserves. Profit and loss account Cumulative profit and loss net of distributions to owners.
25. | Pension commitments
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £60,954 (2024 - £60,971) . Contributions totalling £0 (2024 - £21,082) were payable to the fund at the balance sheet date and are included in creditors. Page 37
SPORTING CLUB ST. HELENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
26. | Commitments under operating leases
| At 31 October 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Not later than 1 year | 315,003 | 275,636
| Later than 1 year and not later than 5 years | 88,199 | 157,439
|  | 403,202 | 433,075
27. | Transactions with directors
There is a secured loan from a company controlled by a director, M Coleman, of £16,967,843 (2024 - £13,758,082). A facility fee of £135,961 (2024 - £72,816) has been charged in the year.
28. | Related party transactions
| The remuneration of key management personnel of the group, who are senior members of staff, is as follows
|  | 2025 | 2024
|  | £ | £
| Aggregate compensation | 711,873 | 658,594
|  | 711,873 | 658,594
29. | Controlling party
M Coleman is considered to be the ultimate controlling party given his majority shareholding in Crowther Street Holdings Limited, who are incorporated in the British Virgin Islands. Crowther Street Holdings Limited have a holding greater than 50% of the share capital of Sporting Club St. Helens Limited.
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