| First Team Overall | First Team Appearances & Scorers | Transfers | Reserves |
| To Wolves | New Professionals | Away |
| Spencer, AR- Port Vale 5/5 | Harrington, JG- 8/5 | Rhodes, L- Shrewsbury Town May 1923 |
| Edwards, EJ- Merthyr Town 12/5 | Brewster, G- Lovells Athletic 1/5 | |
| Marson, F- Darlaston 16/5 | Hargreaves, HH- Pontypridd 1/6 | |
| Crew, WE- Bolton Wanderers 21/5 | Burrill, F- Charlton Athletic 1/7 | |
| Davison, TR- Durham City 24/6 | White, E- Wellington Town 1/7 | |
| O’Connor, JP- Quarry Bank Rangers 7/12 | White, J- Wellington Town 1/7 | |
| Martin, JC- Aberdare Athletic 18/10 | Newell, PJ- Bloxwich Strollers 1/8 | |
| Harris, JW- Unknown 22/11 | Carter, ET- Durham Town 1/8 | |
| Phillipson, WT- Swindon Town (£1,000) 27/12 | O’Connor, JP- Gillingham 1/8 | |
| Waddell, GB- Hamilton Academicals 30/11 | Edmonds, GWN- Fulham 20/10 | |
| Bowen, TG- Walsall 1/3 | Spencer, AR- Port Vale 29/11 | |
| Timmins, B- Walsall 1/3 | Bissett, G- Pontypridd 1/2 | |
| Bradley, PJ- Unknown 25/3 | Marshall, GH- Walsall 29/2 |
