| First Team Overall | First Team Appearances | Transfers | Reserves | Youth |
| To Wolves | New Professionals | Away |
| Smith, AJ- West Bromwich Albion (Fee Unknown) 5/5 | Bryant, W- 30/9 | Thorpe, AE- Notts County (Fee Unknown) 1931 |
| Smith, WC- Denaby United (Fee Unknown) 8/5 | Hartley- Walsall (Fee Unknown) cs 1931 | |
| Smalley, T- South Kirby Colliery FC (Fee Unknown) 8/5 | Hackett, E- Coventry City (Fee Unknown) 9/5 | |
| Buttery, AJ- Hednesford Town (£250) 14/6 | Robinson, C- Coventry City (Fee Unknown) 11/5 | |
| Pincott, FC- Bristol Victoria (Fee Unknown) 3/11 | Deacon, R- West Ham United (Fee Unknown) 10/6 | |
| Redfearn, LF- Crewe Alexandra (Fee Unknown) 4/12 | King, HW- Walsall (Fee Unknown) 17/7 | |
| Farrow, GH- Stockport County (Fee Unknown) 25/1 | Hatfield, SE- Southend United (Fee Unknown) 7/8 | |
| Bucknall, W- Lichfield (Fee Unknown) 12/4 | Hemingway, FCC- Torquay United (Fee Unknown) 16/9 | |
| Anderson, EW- Torquay United (Fee Unknown) 24/12 | ||
| Griffiths, JR- Stockport County (Fee Unknown) 25/1 |
