UK Athletics has hailed a financial turnaround after going from a deficit of £1.2m to a surplus of £107,000 – its first since 2017.
The accounts for the year to March 31 2025 saw losses slashed just three years after the track and field governing body appeared to be on the brink of bankruptcy. UK Athletics reported deficits of £1.2m and £3.7m in 2024 and 2023 respectively.
The accounts do not factor in revenue from July’s sell-out event at the London Stadium or new sponsorship backing from personal finance firm Novuna, but do involve the reduction of staff to 62 from 72.
The turnaround comes under the stewardship of UK Athletics chief Jack Buckner and chair Ian Beattie, and follows the launching of Athletic Ventures, a joint venture between UK Athletics, London Marathon Events and the Great Run Company.
The firm is now looking to reduce its net liability of £4.2m, despite holding £2.85m in cash at the end of the year.
UK Athletics in black
Beattie said he is “very pleased that we are back in profit”, adding that “it’s an important moment for UK Athletics and a real sign that the steps we have taken over the past two years are working”.
“We have had to make savings across every area, including redundancies and reduced support for some programmes outside the World Class Performance system,” he added.
“None of this means the job is done. We are still working to reduce our accumulated deficit, rebuild reserves and manage the challenges of reduced public funding and rising costs. But this is a turning point — the start of a new chapter for UKA.”
The off-track performance beats the on-track results, with the UK having a tough World Championships in Tokyo earlier this year. The team did not win a gold medal, with only Jake Wightman, Amy Hunt, Georgia Hunter Bell (silver) and Katarina Johnson-Thompson and Keely Hodgkinson (bronze) medalling.