WH HOLDING LIMITED
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Next accounts due
2027-02-28 (in 9mo)
Last filed for 2025-05-31
Confirmation statement due
2027-01-12 (in 8mo)
Last made up 2025-12-29
Watchouts
Cash
£457K
-98.6% vs 2024
Net assets
-£4M
-104.4% vs 2024
Employees
1,009
+14.5% vs 2024
Profit before tax
-£104M
-282% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Name history
Renamed 2 times since incorporation
- WH HOLDING LIMITED 2006-11-20 → present
- WH BIDCO LIMITED 2006-11-16 → 2006-11-20
- DE FACTO 1435 LIMITED 2006-11-09 → 2006-11-16
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2025-05-31
| Metric | Trend | 2024-05-31 | 2025-05-31 |
|---|---|---|---|
| Turnover | £269,740,000 | £227,552,000 | |
| Operating profit | -£30,764,000 | -£104,796,000 | |
| Profit before tax | £57,221,000 | -£104,168,000 | |
| Net profit | £57,221,000 | -£103,587,000 | |
| Cash | £33,061,000 | £457,000 | |
| Total assets less current liabilities | £201,932,000 | £93,157,000 | |
| Net assets | £99,247,000 | -£4,340,000 | |
| Equity | £99,247,000 | -£4,340,000 | |
| Average employees | 881 | 1,009 | |
| Wages | £140,747,000 | £152,926,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-05-31 | 2025-05-31 |
|---|---|---|---|
| Operating margin | -11.4% | -46.1% | |
| Net margin | 21.2% | -45.5% | |
| Return on capital employed | -15.2% | -112.5% | |
| Gearing (liabilities / total assets) | 74.2% | 101.5% | |
| Current ratio | 0.79x | 0.19x | |
| Interest cover | -2.31x | -4.76x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Consequently, after making enquiries and taking account the matters described above, the directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence for the period from the date of approval of these financial statements through to the end of December 2026. Accordingly, the directors continue to adopt the going concern basis in preparing the annual report and financial statements for the Group and Company.”
Group structure
- WH HOLDING LIMITED · parent
- West Ham United Limited 100%
- West Ham United Football Club Limited 100%
- West Ham United Women Football Club Limited 100%
- West Ham United Sportswear Limited 100%
- West Ham United Hospitality Limited 100%
- West Ham United FC Limited 100%
- Thames Iron Works & Shipbuilding Company Limited 100%
Significant events
- “The transfer of player registrations completed after 31 May 2025 amount to a net £62,279,000 (inclusive of player related agent fees) payable by the Group over the long and short-term (2024: £109,872,000 payable). A further net £7,657,000 (2024: £10,575,000) may become payable contingent on certain future events.”
- “A future transfer fee receivable of £12.7m was accelerated without recourse. The total cash received was £12.0m, after deduction of £0.7m interest charges.”
- “The Group renewed its short-term overdraft facility with Barclays Bank on 10 July 2025. The £40.0m facility is in place until 9 July 2026 and is secured by a fixed and floating charge on the assets of the Club.”
- “A new £124.0m term loan facility was provided by Rights and Media Funding Limited on 28 July 2025 for a duration of five years. The total borrowing is secured by a debenture on all the assets of the club and in accordance with an Inter-Creditor agreement with Barclays Bank.”
- “At the signing date of these financial statements a total of £89.0m had been drawn down from the facility.”
- “The remaining balance of £3.9m of a secured £5.0m loan provided by Barclays Bank on 17 June 2024 was repaid in full on 29 August 2025.”
- “After a disappointing start to the 2025/26 season, the club parted company with Head Coach, Graham Potter and his staff on 27 September 2025. Nuno Espirito Santo was appointed as his replacement.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 23 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MOLLETT, Andrew John | Secretary | 2012-12-07 | — | — |
| CUNNINGHAM, Dan | Director | 2021-11-12 | Jun 1977 | British |
| GOLD, Vanessa Julia | Director | 2023-08-03 | Jun 1967 | British |
| HARRIS, Daniel Bruce | Director | 2010-08-09 | Mar 1960 | British |
| KRETINSKY, Daniel | Director | 2021-11-12 | Jul 1975 | Czech |
| MOLLETT, Andrew John | Director | 2012-12-07 | Feb 1961 | British |
| SMITH, J.Albert | Director | 2017-09-21 | Aug 1965 | American |
| SULLIVAN, David Edward Kenneth | Director | 2026-01-20 | Dec 1997 | British |
| SULLIVAN, David | Director | 2010-01-18 | Feb 1949 | British |
| SULLIVAN, Jack Frank Harry | Director | 2021-11-16 | Nov 1999 | British |
| SVARC, Jiri | Director | 2026-01-20 | Jul 1975 | Czech |
Show 23 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| IGOE, Nicholas | Secretary | 2007-02-06 | 2012-12-07 |
| ODDSSON, Gudmundur Johannes | Secretary | 2006-11-16 | 2007-02-14 |
| TRAVERS SMITH SECRETARIES LIMITED | Corporate Secretary | 2006-11-09 | 2006-11-16 |
| BERNHARDT, Andrew Sylvain | Director | 2013-07-03 | 2015-06-03 |
| BERNHARDT, Andrew Sylvain | Director | 2013-07-03 | 2013-07-03 |
| BERNHARDT, Andrew | Director | 2009-06-05 | 2010-01-18 |
| BRADY, Karren Rita, Baroness | Director | 2010-01-18 | 2026-04-22 |
| DUXBURY, Scott Ian | Director | 2007-12-12 | 2010-01-25 |
| ELLIS, Robert Keith | Director | 2009-07-24 | 2013-07-03 |
| FRIDGEIRSSON, Asgeir | Director | 2007-12-12 | 2009-06-05 |
| GOLD, David | Director | 2010-01-18 | 2023-01-04 |
| GUDMUNDSSON, Bjorgolfur | Director | 2006-11-16 | 2009-06-05 |
| HORSKY, Pavel | Director | 2021-11-12 | 2022-08-25 |
| IGOE, Nicholas | Director | 2007-12-12 | 2012-12-07 |
| KRISTJANSSON, Thor | Director | 2006-11-16 | 2008-02-19 |
| LEE, Michael | Director | 2007-12-12 | 2008-11-04 |
| MAGNUSSON, Eggert | Director | 2006-11-16 | 2007-12-12 |
| ODDSSON, Gudmundur Johannes | Director | 2006-11-16 | 2008-11-04 |
| SULLIVAN, David Kenneth Edward | Director | 2021-11-12 | 2026-01-20 |
| SVANSTROM, Robert Daniel | Director | 2015-06-03 | 2017-09-21 |
| SVARC, Jiri | Director | 2022-08-25 | 2026-01-19 |
| TRAVERS SMITH DIRECTORS LIMITED | Corporate Director | 2006-11-09 | 2006-11-16 |
| TRAVERS SMITH SECRETARIES LIMITED | Corporate Director | 2006-11-09 | 2006-11-16 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Daniel Kretinsky | Individual | Shares 25–50% | 2021-11-10 | Active |
| Mr David Gold | Individual | Shares 25–50% | 2016-04-06 | Ceased 2023-01-03 |
| Mr David Sullivan | Individual | Shares 25–50% | 2016-04-06 | Active |
Filing timeline
Last 20 of 171 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-22 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-27 | AA | accounts | Accounts with accounts type group | |
| 2026-01-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-20 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-20 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-20 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-20 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-19 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-01-13 | AA | accounts | Accounts with accounts type group | |
| 2024-12-31 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-15 | AA | accounts | Accounts with accounts type group | |
| 2024-01-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-14 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-08-07 | AP01 | officers | Appoint person director company with name date | |
| 2023-08-07 | TM01 | officers | Termination director company with name termination date | |
| 2023-01-11 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-01-10 | AA | accounts | Accounts with accounts type group | |
| 2022-08-25 | TM01 | officers | Termination director company with name termination date | |
| 2022-08-25 | AP01 | officers | Appoint person director company with name date | |
| 2022-01-04 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-05-31 vs 2024-05-31
-
Turnover
-15.6%
£269,740,000 £227,552,000
-
Cash
-98.6%
£33,061,000 £457,000
-
Net assets
-104.4%
£99,247,000 -£4,340,000
-
Employees
+14.5%
881 1,009
-
Operating profit
-240.6%
-£30,764,000 -£104,796,000
-
Profit before tax
-282%
£57,221,000 -£104,168,000
-
Wages
+8.7%
£140,747,000 £152,926,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers