Saracens Limited

The principal activities of Saracens Limited (‘the Company’) are those of a professional rugby union football club including entertainment, ticket sales, hospitality, catering, stadium events and merchandise. Saracens Limited is part of the wider Saracens Group (‘Group’), the parent company being Saracens Group Holdings Limited. The Group also previously included MBN Events Group Limited which staged entertainment and business events; UK Investor Show Limited which hosted UK investor events; and an investment in Saracens Mavericks Limited, which competed in the Netball Super League. Subsequent to the 2024 year end, the Group decided to cease its events and netball activities in order to concentrate on growing and improving its core rugby and community-focused operations. As a result, MBN Events Group, UK Investor Show Limited and Saracens Mavericks Limited, which formed part of the Group in 2024, ceased trading during the year. Additionally, affiliated to the Group are The Saracens Foundation which is the club’s charitable arm and the Saracens Multi-Academy Trust which operates the Saracens High School, Saracens Bell Lane Primary School, and Saracens Broadfields Primary School – which joined the Trust as its second primary school in October 2025. A new Saracens Primary School is also planned to open in September 2027. Fair review of the business We assess progress towards our long-term goals with a series of KPI's, which in this reporting year focused on: Achieving entertaining, high sports performance Creating an unrivalled customer experience at the 'Showdown' showcasing top class rugby entertainment at the magnificent Tottenham Hotspur stadium Growing our audience and selling out StoneX stadium for more home games Remaining at the forefront of women's sport Safeguarding our people first, caring, high-performance culture Growing our partnership base and enhancing our relationships with existing partners Managing cash flow and meeting our financial targets and reporting requirements Committing to the community and having a substantial socio-economic impact The Group has made progress in key areas as detailed below. Saracens Limited financial performance Revenues decreased from £22.8m to £21.2m in the year ended June 2025. Despite a challenging environment, we saw a £0.1m increase in our ticketing, hospitality and partnership revenues. The main decreases were due to £0.9m of lower PRL revenue, £0.6m as a result of change in revenue recognition of merchandise sales and £0.3m of additional exceptional, one-off income received in 2024. Operating losses increased by £1.5m to £8.9m in year ended June 2025. We continue to work hard to manage our cost base given the difficult economic climate which is impacting our consumer fan base as well as our escalating supplier costs. The Balance Sheet continued to show a positive net asset position of £5.9m compared to £5.3m in the prior year with a positive bank balance of £1.3m (2024: £0.8m). StoneX Stadium is not included in this Balance Sheet as it is held in another Group entity, Saracens Copthall LLP, and that entity has £12.2m of positive net assets.