| First Team Overall | First Team Appearances & Scorers | Transfers | Reserves |
| To Wolves | New Professionals | Away |
| Picken, AH- Wellington Town 12/5 | Potts, H- 10/5 | Gill, JW- Unknown cs 1922 |
| McMillan, ST- Gillingham 12/6 | Imbrey, F- 11/10 | Rouse, VA- Stoke 8/6 |
| McCall, W- Blackburn Rovers 20/6 | Blenko, A- 5/1 | Mayson, TF- Aberdare Athletic 23/6 |
| White, E- Wellington Town 24/6 | Pickering, FO- 11/1 | Richards, RW- West Ham United 6/7 |
| White, J- Wellington Town 24/6 | Price, CH- 11/1 | Brooks, SE- Tottenham Hotspur 20/7 |
| Best, R- Sunderland 13/9 | Ward, D- 22/1 | Woodward, M- Bristol Rovers 4/8 |
| Legge, AE- Lewisham Athletic 13/9 | Moseley, HJ- 9/3 | Lea, T- Bristol Rovers 4/8 |
| Tuckley, LW- Leamington Town 7/10 | Sambrook, JH- Liverpool 16/8 | |
| Brewster, G- Everton 9/11 | Potts, AA- Walsall 26/10 | |
| Fazackerley, SN- Everton 9/11 | Whatmore, EL- Shrewsbury Town 1/1 | |
| Getgood, G- Southampton 26/1 | McCall, W- Southampton 26/1 | |
| Lees, HH- Ebbw Vale (£50) 2/2 |
