Racing to School (a company limited by guarantee) Annual report Registered charity number 1040590 Registered number 2958174 31 December 2021 **Racing to School** _**(u co111pa11y**_ **lirnilcd** _**by guarunlt:t!)**_ **Annual n.-port** **Regish:red number. 2958174** ## **Contents** ## **Page** - **1 Structure, governance and management** - **3 Report of the Trustees** - **13 Statement of Trustees' responsibilities** - **14 Report of the independent auditors to the members of Racing to School** - **17 Statement of fi nanclal activities** - **18 Balance sheet** - **19 Notes** Ruvirylosrhool (a cowylimiiedbygjiarthireo) AnDual r¢port Reg￿T￿ nwnbLf. 2958174 Structur•i govemancé and managèment RadrvJ lo School is a company Iwnlled by guarantee under a Memorandum olA5socialion date(112 August 1994 (Registered Company no: 02958174). Racing lo 15 also a regi51ered charfty (Reglstered charity no.. 1040590). All Trustee5 as a131¥ December 2021. who are members of ￿MpanY. have undertaken lo contribute a sum not exceeding £1 each lo rneel the liabiliti.es of the company in the event Ihal it is up. Members The Membership ol the Company was Ir￿eaSed in September 2016 by iwo lo allow lty up to len persons kn lotal. appointed in accordance with Ihe lollo*ryng proVi￿￿s. al One person shall bE apJy)inled by each of Ihe bothes noted below Ipnjvided that tha p8rsons appolnled shall not be an employee of the body which appoints them) {Arlicle sal: Ihe British Horseracirwj Aulhority Ihe Racecourse Association the Horsem￿'S Group b} Up to seven Cr￿Opted members shaffl be appointed by the board {Artide Sbl cl Members shal be appomled for a peT*)d of w lo three year& arKI upon expry of SLKh pgrfod shall be eligible for r&appointmenl the same lemis by Ihe W which appointed them {In the case of M￿be[S apponled Lmder Arbde 5a) or by the Board Ihe case of members appolnled under Artit42 5bl. Members who are not so re-apprynled. or wlw) a￿ disqualified a5 member5 under Article 8. shall be replaced by the fespective appointirKJ body. Members are also dIre￿$y$ shall not be enlllled lo vote al Board m*tings in rela￿On to thew OWTb rwpoinlmenl under Article Sb Al neY¢ly appolnl&J Trustees undergo an ind￿l￿)n programme arwj receive a Tnth Handb￿k. Tru5toes and dlroctors The Truslee5 of the charilable company are also Ihe Dtrect￿s of the company for the pU￿05e of Ihe Companie5 Act 2CQ6. The Memoran(knm of Assc¢iation slates that certan ¢xgani5alions mu51 be r8presenled on ihe Board. These organisations pul forward p055ible can(lidates lo the Chairman of the board who are then elected, If appropriate. Rocuy iosclrtil I1￿[￿dby￿1ar￿1leeJ AnnuJ ryn num￿￿. 7958174 The Tru51Ee5 01 Raang to School between 1 Jwary 2021 and 31 December 2021 w8re as follthvs: Organi5al• dependent Trustee Indeper￿ent Ta￿tee IndeFen￿LTn￿Iee Indep￿1 Tntslee Indepen￿1 T￿￿te& Date ol appointment 13 Odober2015 Xl May 2017 21 Seplgmber 2020 2 December 2020 Date of resignatson 11 Aprll 2022 Nick Attenborough {Chair) Michael Andrews (Chairl John Baker Anna Usa Baldlng Paul Brewster 25 Marcth 2019 Jacweline Greet Andrew Merriam Kevin Parsons 2 December 2020 ilish H￿Serackn9 Auilw 22 February 2017 Horsemen's Group 26 June 2018 1rKie￿enl Twstee Clive Wisby 30 May 2017 Day to day management ol th8 ch*ily is d8b8galed to the Cl¥ef Execub¥e. J¢kn Blake. Registered address 75 High Holbom London WC1V 6LS Profe591onal ad¥lsars Bankers Wealherbys Bank Sanders Road Wellingborough Northamplonshire NN8 4BX Sollcltor¥ Royds Withy King Cross Keys House 27 The Parade Marijorough SN8 1NE Audlt(K5 James Cowper Kreslon 2 Communications Road Greenham 8usiness Park Greenham N8wbury Berkshire RGI96AB Racing ioschiwl Annual rep)n Reg￿led A￿ll1￿r. ?958174 Report of the Trustees lttlh•y•ar gndèd 3108c8mbtr2021 The Trustees presenl their ￿POrt and Ihe a￿jIled ffinanclal 51alemeDts for Ihg year ￿Trded 31 December 2021. The annual report and fmancial Stalen￿ftts ol the company cofflply cunenl slatulory requirements. the requirements ol the com￿￿$ goveming document the provisions of the Stslement of Recommended Pracke ISORP) appllcable io Charities weparing Ihew accounts n accordance with the Financial Reporting Slandèrd applicable in the UK Republic of IrdarKI (FRS 102) leffeclive 1 January 20191. Oryanlsatlonal struclurn Chairman Tru51ee5 Chief ExecLtrve Financial Accountant Rating TogÈiher Aition Group Nominatèd Trustee Chair Edutation PTogrdmme Mènager Fundrais￿¥ & Comrnui￿aI19n5 la￿£* Corr.rr,UAilV Engageneyt Manager RÈgK)nal Edu£aiion Qfficer EducatK)n Pro8ratnme Facifitaiors IPTI M2 Sessional Staff The Twstees make polky decl5￿ revknv and fLYmulale strategic obi8c¢ivas. identify, evaluate and manage risks lo tr* ¢harlty and are reS￿nSIble lor the overal financial policy and approval of an annual budget. All expendllure Is aulhorlsed by the Chief ExeuJlNe an￿Or Financlal Accountant in line with the annual budget apwoved by Ihe Trustee5. Any extraordinary items are sthmltted for Trustee approval. Remuneratlon pollcy Trustees are fesp¢Jn5ible Ihe tharity's pay poky as wel as deciding on th? salary ofthe Chief Executiv8. In Setting Ihe overall pay levels staff. Fiacing to School conswjers the weyailing pay wacllce In the wider economy. uses comparable benthmarking and lakes extemal ￿l￿se1 from the British H¢Jrseracing Aulhorlty. Restrictlons on operations and inv•slmwl powws There ere no malerial restrIctA￿S on the operalN)ns orn1 WNeslmenl p)wers ol the charity in pwsuance of its chadtable obligations. Ra¢img toSd(wl (a(UryTh￿ylinIit¢dbyKttQr￿1iIUJ ADnwaJ r¥pkn Reg￿￿¥￿ numiw. 2958174 Related Parties Related party assodations Mryth Iho Bntish Ftheracing Authority, The Horsemen's Group arwj The Racecourse AsScoal￿)n arise through the appolnlmenl ol nomlnated ￿preS￿IabVes wder Racy￿ lo School Memorandum and Articles of Assoclallon. Any tran5acilr￿5 arthj betw￿ these entitles and Raclng lo School are dlsdosed in Ihe note5 lo the ¥coL￿1$. At quarterly Trustees. meetings. the Trustees actNely tevw Ihe mA4)r nsks wlKh the chaTrty faces. These indude: Govemance Management. Operational Enwronmental {exlemal factor5). com￿lanCe aTr FIna￿la1. The Twslees apwai5e potenlial risk fa¢tors 'Seriousne￿ ol risk. 'lkelthood of risk,. The key sk faced by the Charity Ss a general econoffl￿ downtum. specfftally bts Impact across the 5POrt ofhorseraclng, whith would make fundratsw)g dlffi¢xlt. The Tfuslees bel￿e rnaintainiryj an 'adequate' I￿e1 of reseryes. combined with planned reviews ofcontrolsover key syslems. WI￿ kKo¥Kle eMtvJh resource kn Iheevenl ofadverse orKlilions. Health and safety of the ￿￿￿reft atlendlng ed￿1*￿1 days Is also an of risk, whkh Ihe Charlty miligales against by havng strngent Tisk assessment procedure5 kn place. The cffitrob over the key system$ have operated effecfvdy Ihroughc#Jl year. Objectives and activities for the publlc benefft Objectlves objectives forwhich ts Chartab￿ company estats￿ are: To adVa￿e the education ofthe public n the sut4ect of h￿eraor￿j and thoroU￿bred breeding Including by way of deS•￿Ing. devehjpkng and delivering ed￿81￿)n and tr8Th79 courses. promoluig arld >Jvancing V￿￿ortal ed￿atic￿, Iraffting. volunteenrwJ. well-bekng. employatxlity and cThnmunity eryjagement programmes (ln each such case lry charitable purp05e51. The Trustees ¢onfimi that they have refeffed to Ihe gUk1￿ce ecrfltained in the Chtrity CommissSon's general gjidance on P￿41¢ benefit Nvlpn revigwing the thantable wnwany's aims and obieetives and in planrbirvj fijture acDvilies. To hdp Raclng lo Schod achleve Its mission the folk￿Ing strale* objectives were delermined as Ihe makn targets in 2021.. To continualty devdop. implement and evaluate- nlwnally and eKlemally- educat•)n programmes for lh8 benefrt of an in¢￿SIng nvmbef of young people in Ihe racing and thtyougN)red breeding seclor. To finarriamy support existing arKI prowamme5 ￿ line with Its charitable objeGbve5. To devebp ￿aders￿ rcAe ol Racwy Togelher auos5 and beyond racwby. To maximise resource5 and ￿erate as a qualty emptyer and enctyfjage best pract￿e. To ensure Ihe charity. its a¢tswlies arKI bene￿ weAe proiected as practicable agalnst the Impact of Ihe Co4kl-19 pandemr. The priorities identified to achieve these objectives inc&Jded: To dellver Racir¥J io Programrn85 Ihat gve a wlde U05S•section ol yO￿g people natlcfftwide an opportunity to erthance their schocl si￿lieS arKI knowledge about the 5POrt a5 an employer 1hr￿gh actlve, ouldcwy leaming aboul Ihe TacirwJ and breeoing industsle5. To work wllh approprlale Twslees lo review Ih8 deslgi aThl delIv￿Y ol Ihe prograrnmes. To continue to knvesl in a small kndratsing functi(￿ lo help secure furKts wilhin and outskle the Industy In support of the delNery of Educabon a￿1 Car8er-focusse(I Pwamm8S. Scht fa¢omponylirniicd by￿l￿rni11ee) Annual Re5iStLTEd numbcr. ￿58174 To work alon￿de stake￿￿￿er$ and other relevant bothes to develop Racing Togetheffs contrilwtion to the 5P¢Jrt and its leader5tup w) growwKJ commwdty acbvity. TD improve commuimcathon dw￿* to rase a¥rare￿ ofthe dwrity's worf( and impact, and its ¢ase lor support. To er￿Ule Ihe Trustee Board reMaK￿ effective and fully inftymed despite the need for remote meebngs to replace in person quarterty maetings. TD mainlah professional and gxpgriwced fina￿181. HR and. 05 applieèble. legal $upptyt through an 3reed hAemorarnlL¥n ol Understanding with the Brilish Hor5eracing Authority. PrlnGlpal actlvltles The eharity delivered two EduCa￿n Progammes in 2021. the core aclivity days for schoDSs and the Riders, Programme, focused more on the ¥*ort's career opwtiwiffjes. The 2021 plan wa5 to run 250 Racing lo School events lor 10.000 young people. however owing lo on4Jcing diswptK)n 221 events were delNered by the charity for 8.230 benefi(aarles. Wthin Ihe plan. 127 Education Protyamme events engaged 4,822 young people a5 against the original largel of 190 evenls kr 7.61JO. An increa58 in demand for Rider5. Programme aclNities look the annual lolal beyond the plan of 60 to 94 events benefitting 3,408 particlpants lorm an Ori&￿al lar9el of 2,400. The Racing Togelhef prcwmme 01comm￿ty er8agementfor theyearwas shaped in part by the sports efforts lo support its communilies d￿ng covid. alongside the delivery o15trategic wlot prchy8mme5. and a focus on communlcalk)ns. Allgnment with olher knduslry slralegies and WOTkslreams ensured that Raeing Together conlribuled to and was 8 valuable assel to wksef needs. Publ1¢ 8oDgfft Access lo pwticipalion in the Raong to SCIM￿1 education Frfogramme is unrestrKled wllhln the budggled resources of Ihe charfty ar•J Is delSvered nauonany. The P￿T￿rne encourages and s81s largets for parbclpalion from schools in inner city. deprived and dIsadvants￿d areas. I￿ludIng provlslon for puplls wlih speclal educational needs wilhin mainslream and special sthcds. BEnefils afising from participali¢)n are many and iverse. indLKling specific help with relevant eurrieulum subjects. weased motivation. ratsed levels of understanding through enriched studies. sylort to young p8ople'5 Social emotional education and informed 8ccess to the range. associated trainw roules and uwidance lo career opportlniibes wlthin the Ihoroughbre(I racing ar￿ breeding industy. CV the 70 Indivldual schocts and cdlerjes the charity partrwed wrth tlwhout the year. 21)% of those who partlclpaled are I￿ated in inner city. ruraly isolated or depriv8d areas. Indivhjually. 13.5% of young people engaged are from elhnlc m*)oriUes: 3% have Specaal Educational Needs Disablllies {SEND); 7% have English as an Additional Language IEAL), and 17% are eligljle for Free Schtr)l Meals {FSM). Racing Togethorfs mi55ion is lo instigate. siWPOrt. measwe and communicate the sPOrt'5 efforts to impact in poslllve way wllhin Ihe communiDes in whth il operales. Stratoglc report Trust•¢ Bowd and Staffing Al the er￿ of 2021, the Trusiee Board nLThbere(i nine membws. wllh kndependent member. Anna Lisa Baldwig attendlng her first Board meeiwig In March, all￿1)g one addilwjnal appolnlment ¥￿thIn the m8ximum of10. Al the September Board. Chalr ArKIr￿S slood down frryn Ihe role bul wllh the agreement of the Board remalned as an Independent Trustee. Nick Altenbmjth, also an Independent member. was voled in as new Chalr lo offidate at the November methw. 11 was aweed by the Board that any fukne appolntsnenls would be Ro¢ury ￿School Anft￿ R¢gAYpxl nwnkn.-ry58174 eomm•nsurate Yalh the ch*Ws needs. awnst a S￿15 m•trlx aThl T*Mh a wbk comm11m￿l lo the Britssh Horserackng Aulhorty's DNersty aKI Indu5b)n strategy. Apwoprfale guidarKe and upJates wwe gfven lo Tfwl•u In Wms ol Ihe* (krtles and Ihe expects￿ them In Ihelr Tok* frcrfn the Ch¥ity Ccffj)mtssknn. I fi￿.1kne and part￿me staff roles rem•lr*d as kn Ixevkmjs yearn. wlth charity Ihe G￿l£M￿l Job Relention Ifurfoughl Scheme as required and in wlh the guldelnes a5 they charyed ttr¥oughoul the yw. For the first three monlhs of the ye¥. the FuThJr•i¥lry a￿1 CtyMx*knlw)ns Manager r(de was Vacant a n pwmanènl replacement started In earfy Apil. A Se￿or*I posill¢J) was also intnmluced lo wort Iho woth of Racry Together. The tharity made use of an Industry4¥ide galeway sel up lo provKle Oppor1￿)111es lo yO￿g people elgible lo benefit from the Govemmenvs Kthtart Stheme ty r8CfUitVlg a fixed lemi slaff member lo h)hi at the start of 2022. o￿n9 lo Govemmenl restr￿￿On5. the chanty's f•nl8d office space was ￿den￿d for most of the year bul th• rentsl arrangement was re¥rewed and paymènts re{l￿ed. The th8rity con1wi￿S lo benefil from havlng access lo g the BHA'S and Pacyl• and Cullwe teams. The charity recer¥ed s•Jnifwl media co¥erage- kn priil arKI oTrkne- hWlvJhting the 20th anniversary slnce the Educat￿ progr￿Me comrnenced and #s cc¥)trlxrtknn to reconnethon *rylh it5 c(ThmuThties as resliictions were h"fted. The chanty's Ambassadors and other swets raised ￿￿enesS otthva a¢hievem•nt managemenl. EduGa¢lon Progranwn•s The fr8e and Lmiwe Rad￿ to Sch(￿1 ed(￿al￿ programme (made possltrAe through gWth)us donalths) came lo a hard slop in mid-marth 2020 trwirwj lo the pandemK a￿1 in kne Govemmenl restr￿1￿￿1$. In Seplembw 2020, trials al racecourses reassured Ihe del¥ery leam Ihal il was safe to non￿￿edaY a¢￿￿ty Y*llh sth¢)01s and thls was the intermittent pattem of th• charty's vAxk untl the Progrnmm• re5um8d agan. at Plumpton Racecourse on 18 May 2021, followed by o modesl relLm of xhoc4 activilies Ihrough the summèr ienn. All a￿1vIlle$ were hdd non48cedays aThl reqiAred riwoLL8 p￿nr￿r￿J and risk assessments. The aUt￿1n lerm saw a welcome relwn to raceday acdvitles. beginr¥rffJ al Chesler and Sandown racectyjrses on 10th Seplember, th some reslrfcllons {such as la¢￿ of access io the weigh.ng roorn) aThl canc•llatiMslpostyonemonts owing lo Cov1&19 Infec1h￿ rnle$ prewil Ifx rernah￿ ol the year. alms of the Radnp lo ScJKd educalK¥i wogramme in 2021 were to: • po¥*Ne Impact y¢wwJ learning. them to dvek)p I￿1r knovA•dg•. $klls, and Inlefest Incr•as• P￿￿.$ ffthu5iasm and wwj9r*￿ng crf the WKI br••d¥ig knOJslri¢s indLtstr*s All ol the wvnary awns and obieclive5 Ihal set (xrt fc* Ihe Educab'on Pwanrn in 2021 were achievgd withln the adapled arKI restricted Tr charity was u)able lo meet ils p*Kipanl target lor the reasons Staled. Withi'n IhSs Ilmiled ofactswty. each of key parbcpant m8a$wements was meL so too the expecIal￿5 ol ￿achers in tem)s of org•nisalKn. conlent aN1 de￿very ol prrjgfwnme. 11 is p￿rwj to report (acury4TAyliRiitsdtygtsorwit¢¢l ReBthe￿ number. 2958171 once again that 10(PA ol pdled teachers and t•xhets' assistsnts auyeed Ihal they would b8 Interested In lulure e¥￿ts provkled ty to Sctthl. Inevilabty. th& dwity ath￿ved cffjty 82.3% 01 its Wgel of 10.LKY) bene1￿ries, which wa5 sel al SO% er than in pre-covhj 2019 yoar. Th8 t8am dKI *wll lo defvw 88.4%1221 of 250 planned evonlsl. The Educalion ￿amme even15 reached 4.822 a target of 7,600) yw people Ihroug* 127 Ilarpl 01190) Rewlar evaluallon is l#￿8rIak•n lo en9n thal acimlres C￿np￿1￿1 Ihe developk4 school WTicula and der education priofblles from sctrth lo na1￿81 level. The tharity has also intrOd￿d dala eolleclion around ethni¢ divwsity into our reportiNd model. Cross4xthg thwnes are wovw ¥)lo prwamme xljvllles where appropriale Isuch as health arKI w¢￿e￿￿, ￿ en￿rc1￿enL etc}. 1￿ of iéad*rs swveyed In 2021 agreed {with 95% strongly agreelng) that Ihe programme dehws and wovision ofpuF*' needs in line with Ihe nallonal currlculum. The charty'$ prOgr•Mm￿ ar• altuned to the needs and oftr* w*Jef knd[￿ arKI 119 ¢ommllmenls to sknff recfultmenl arKI relention. saleguarding. and thersity and wKluskn. HighWIw)g po¢enllal areer OpportU￿tIeS available within Ihe indu$ty was regafded as gKcessfiA by 93% 01 lear*￿t￿e15 who ¢Onfirn￿d that I￿1r sludenls were belter inf(Thed lolknviTrJ a to Sth(m￿ actr41ty. The Rid•rs' Progrnmm• wthed Ylilh a twmber Ofeq￿ c(*98 PWtMfJ aL¥oss Ihe cowlty. PrwaThThe acti￿1185 dki Tr)1 gel ￿)de￿WaY until 18th June were ￿l￿allY reslrfct6d to carefulty planned cd18￿ vlslls and non-raceday aclivitie5 summer I￿. Hwe¥er. a retum lo racedays in the aulumn wllh coleges beng eonmenl to bo(* ed￿alK￿￿1 ev•nls as nomial. Aryoss 2021. 28 Equine College dtys were held ltrol benefitted 951 cow sludenls. Thse events InckKl8d 12 cole9e vlslts, nlne racedays. Ihree ￿-rac*S. sturvstable visls. and one careers, fak. One event was car£elled. but all other others went ahead as planr*d crf were poslpwd lo a later d810 wllhin the year. The chwity r4 Very graleftd lo slL•ls arKY stables that altrwed the sludenls lo go b8hlnd Ihe scenes and leam about life wilhln a busy rauNJ. tsaning or Ixe* IKaity. Of ts your*J pe¢)ple who look part in evenls. 49% hgd nol wevkxtsty ¢￿sidered a eareer in ra(yng. After ￿1r event. 97% agr8ed Ihal they ntr•Y have more kn￿￿edge about the a￿1 99% kne44 mcve about Ihe potenlial careers within tw)rseracing. From thls. 97% now have a beller the same po￿￿e) ophion ol trthswacirvj. and 80% confmied tho1 they would now consld•r a career in the rthjustry. Encouraglrwjly. all Inslructors nvc4v&J in the tyowamme in 2021 felt thai Ihwr sludents had received a positive expehence. Furthem)c*e, 1(K)% indtsted that thew 0*4n krthAedge abl￿1 the Pmeracing iThJustry and th8 polenlld career opportunities withn il had *ic¥eased. All confirm¢d that Ilw a￿ ncm able lo siFwt thelr 8ludenls- and WOLld activély e￿i￿age lo a carew p*way ￿ thtr sp(xL B••con Programm•s The tharity runs tyA) Beacon Programmes ￿ colabwal*￿ *rylh a farrfJ8 of partners. The ￿ntree Beacon Programme is kndty supported by a grant Irom The Raciry F¢wKlalb￿ Godolpl4n's gew05ity fwKls the Newmarkel Be8cc￿. The sevenlh year of Ihe Aintree Pwamm8 comm•neèd kn 2021 wllh plannad of c1,300 wplls The prowafflme resLThed on 12th Klay wvj the adapted wogramme resulted kn the Aintree Beac￿ reachiNJ Ihree quartets of its amual auapmenl target. a total 01908 ytwng people1153 primwy students 755 SeoxKI￿ St￿15}. A lotal of 17 irKlugve educatlonal evenls wwe held across the year. with Iwo vlslts 10 knary sttths. event days al Mwkwi Hlgh s(#￿1 •rKI one careers far, pth 11 nonqaceday acllvlty days atAintree Race￿￿e. The ￿x1h year of I￿ NthwTrthel Academy Godolthin Beacon Prcfjed starte(l off wlth virtual engagement In place ol irwers(￿ events. Irdudry a suAptLre ma$terclas5 that carried out onlNie. with the modelling clay Rociiw io RqL4L*yI rtumlkr. 2958174 having been posted to each sbjdent's home. The popular Dubai Fufvre Champions Éducation Week. Invclving rn￿Y inlu•rdaled racing <￿an1$8￿0nS in Newmwkel was delvered lor Ne•vmarkel Academy pupils In June 2021. ha¥iThJ been ￿)sIpthed from October 2020. Addmlonal Projects The charity M￿ageS ihe of the Newmarket prim￿ Sch¢￿1 prO￿amme- Under Slarters Orders- klndly fvnded by Newmarkel Racecowse aub Eslales and a red￿ed rwbbeT ofe¥ents were run during the Summer Tem). The ffir* events wtre davered of the fvtryew Pony Ra￿g Palfv*ay Prnlxl: a collaborallve programme with Ihe Pony Raang Authority. The Pony ChJb. BHA'S Careers n Racing team and Racing lo sch¢￿1. The Pmgramme offers a fom￿1 pathway into the hLY5eraciTW in¢knty for young peop￿ through pony rac￿9. Supported by the Racing Fo￿daMOn. Ihe Pathway provide5 an n¢hJ$ve opportunity for young people lo gel #wofved. welcc*))tng tP#)se hwe nevw b•en IrM)1¥8d in racing as wol as comp8tenl r*Jers. The charity wa5 at the heart of the inaugural Nalb)nal Racehorse Week- an cvp0rtu￿ty for r￿ing lo open Ils doors lo the pubk. $0 they cwld leam al abo￿ the sport's equine Sta￿ and their welfare. Racing to School worked with five schools that week by hosting them al training y￿S around the county.. the charity was also kyesenl al BlenheTh IntematKJnal H(￿ Trtals (k*MYJ that as part of the Jockey C￿b,S family and educalim zone. In Apiil. rt was announced lh* the new Racing Leagwe leam compelilicffl had th¢)sen Ihe charity lo b￿efft from a tsyo-year partnership. to include fvnthaising and PR opportunilies. Staff attended Ihe competition's fixtur85 across Ihe summer al Newcaslle, 0￿CaSIer. liwf￿kl and a￿1 offered YoL￿g people and famllies the thance lo use racehorse 5imulalor& The charfty Is regularfy asked lo SUP￿ crylwnentary events for parlners. such as racecoL¥se I￿lY days and open days. but this was again reduced in 2021 owing to Ihe pandem￿. Racing lo Sch¢yJf$ programmès coutd rnt 4)ptr8te. or be eflective. *rythoul Ihe col¥bcAation, goodwill and pnlhu5i8sb"¢ parbc4pation ol industry partners. in Part[￿lar our fvndevs. including ts Horserèee Betung Lwy 8oard IHBLBI, and racecourses nationwKfe. The confid8nce ￿aCed In the chwity's work has never b88n more in evidence than during the pandemlc, and Ihe slaff a￿1 Twslees a￿ exlremely grateful lo r￿e1ve such $upporl. The th8rity is pleased. therefore. to supwt ccthp1em￿trry events for partners. suth as rac8w5e family day5 and open days. but this Ivas not posstble during Ihe pandemic. Raclng Tog•th•r R8dThJ lo Schtr31 look overthe strale£ic and praclcai leaderslmp ofthe Racrig Together parthwship n 2017 with the commitment from Ihe BHA lo pmvlde [￿di￿ for res)urc8 and associated activrty for an inlllal period ol three year5. end'ng February 2020. The H￿B has si￿0 fvnded the nitiative ¢Jn an anwal Grant basis througho 2021. Raung Together 15 the raang Mdustr￿S (￿l￿raY ar•1 education initi'alivg. ccrfnprislng of a ran98 of a¢￿Vity by various charitsL4e and commuoal organisalkws - wi¢t•n and outside the sport - that use Iheir resources to b8nefit olhers throuth raun￿ The initiative is an Impc*tant focal polnl for the sport's mulb'faceled Inlwaclions with Its communllts aTrJ kvms pwt ol its SL￿1 liC￿ce. As such. Racing Togelher15 charged with providing regular communK*ins cn work wvjertaken. so ILK) with instiga￿9 and sharing kn¢)wledge. programmes and contacts. Raong Together became offtial cunmLmiCat￿ts hub for the ￿lI1$h Horswacng Aulhoritls Olversity In Racing Steering Group in 2020. The ￿le of the dedicated Community Engagement Manager reports dIrect￿ lo the chanty's Chief Execubve and Is responsible for day-to-day xtivity. including the secretarial function of thp rwly fomied Racing Together Sthc¢￿Mlttee. The ddegaled Subcommittee reports to the Board Is chalred by a Racmg to School Trustee and consists of a slu1154)•sed arKI thre￿e team of Industy wolesslonals working Raciwg m sch1￿1 (a compwry lim1iedby￿*Urtsty1¥rj AtuMal Tqklrt estwcd nwThbcr. •958174 in and supportmig ¢ommunty eryagwnenl and ¢d￿tffi xtsvity across Ihe sporL The Group is Chaired by TTuslee. John Baker. as nominated by the Board. Other Subcommfllee members are Jacqui Greet ITrusleel Deborah Hay. bh)rag Gray. Tim Williams, Grant Ro*tsy. Rcry Palmer, Maddy Playle. Paul Swain. John Biake {CEOI and Lucy C￿Y (CE Manayl. Ra¢lng Togethe￿$ purpose. valu• and Impact Is In many way* Includlng: Providing the official raciry's COMMU￿ erga9emenl aThd edsxalion. Induding the communi￿tiOnS hLt> foi the D¢versity ￿ Raciry Steering Gioup. Uniting and allgnlng the sport's commurwty-focussed aclivty. Measuring and communieatry the Im￿lance of communty engagemenl for raciThJ's lor¥J4em) SU51anabi15ty. Piloting. SUPPOfting and devdotMThJ emerir Thj t¥ogrammes auoss ts sport. InspirirwJ and shOwcas￿g best praclice from across raciro. olher lar9e sporls and beyond. Workirvj dosety with racwry's ￿aders and guhled by a delegated subcommil*e. Strategic ObjectNes cafrled fopward lilo 2021, included a focus on raising Ihe profile of Raclrwj Together, slren9thening ils position as the irtdusty's for Cornm￿1ty engagement and education acllvSty and its alignment with 5POrt-wide activities. Grijwing Ihe independenl website and communication channels wa5 also key aim, $0 loo $w)porling the in[￿￿y'S eff￿$ lo recwit trawl volunteers, IhrowJh a recwilment hub arnl eL8arning module. Dlr•ctory of Communlty Engagemen¢ and Education Actlwty R8dng Together in 2020 coordinated the largesl s￿￿eY olcommunlty engagement and education aetNity across Ihe sport. leading to the launch ot a fvsl ￿line Lknlory of programmes and initiatives in November. In partnership with the Raang FoundalNJn arKI God¢JWn. The Directory Is housed willin the Raciry Together website. A Teporl was prodLKed. as well as data analysis which ha5 inform8d a number ol industry recommenda￿Ons. The Oirectory continues lo tyaw and Racirwj Together reported in 2021 a 44% Increase In year-on-year commur4ty engagement activity across the iThJustry. Racing Togelher is a contributing member of an Intema￿)nal grow. Together for Racing Internal￿nal ITIRII that is SuPp￿ed by Godolphin staff in Ihg majorracing1￿ls￿￿Ion$, estabfished lo share knowledge and best praclice and knsligale new programmes kn membw c(Mmtrles. OV￿1¢W of Raclng Together acthity In 2021: Launched and delivered successfvd pllol pmgramme Autism in Raong. a collabcffa￿¥e crossvlnduslry oup Ihal is sponsored by RaoThJ Together part4uTrJed by the Racing FOUnda￿On ènd Poler O'sullevarb TwsL The Ouzbeck Pilot- Rac1￿ Together. Greaiwood and Re1rnI￿n9 of Racehotses worked collaboratively lo establish and evaluate this piknl progamme. look fomier racehrff5e Ouzbeck to a MarlborcMJgh care home once a week lor six weeks lo measlre the impacl of beneficiary inleraclions. Racing Together look part kn and contributed to ¥fjagiThJ commu￿￿&$ as part of the first National RacetrJr5e Week. Provided key supwt a5 partner to th8 RCA'S Racec￿￿ Together event In November. which highlighted arKi celebraied r￿1￿j.$ ￿sP￿Se lo the pandwnk. Plans lor an In-person RCAIRacing Together Ma5terda5s ￿ Communty Engagement and Educatlon are being deferrèd lo 2022. as was the Raang Togelher c￿M￿lty Day: racing's national day of volunleeflng Iposlponed frcth April 2020) Racing Togelher has a strong partnerS￿P the BHA'S Diversity in R*ing Group and the charity ha$ iDined nine Drg8llI5a￿nS by 5*JniThJ Ihe 'lndusty C¢wnmSlmenl' and is taking action lo P￿ritise its objeelives Racir4J Tc4Jelher Is a lorKJ41me swworter of Car88rs acti¥lty and inillalfves, mosl ￿¢entlY the Slep On Trnck aThJ Cweer Devel¢)pmenl programmes The Racing Together website {www.racinglOgether.co.￿) and ils other plalfonns offer Taclng a shop wlndow to its customers. bu5ness partnws. pclilKal leadets and the media - a dy￿an￿C news and RéKiiJg ioSchnDI (o cwylimiicYlbywiui¥iiiiee) RLY1A￿ed nwnkn. ?95¥174 Ilormation hub and restyxce Ic* the entye sixxt to p￿1 its contrtiKrt#Jn. events and ambition lo help others. Pllol Programmes Radng Togelher oversaw Iwo successfvl plknl wowammes kn 2021: Aullsm in Raci￿ and th& Ouzbeck Pllol. Raclng's Natlonal Day of VO￿nteerIng Follo￿n9 a fecc*d 2019 R8cnvJ Together Communbty Day. engaged enwloyee vol￿teering across the Sp￿1. the 2020 arKI 2021 ren8wals were canceled owxwj to COVKI. Replacing In-perS￿ activity. Raong Tcgethef initiated an inspiiing webinar aTrJ podcast series designed lo stsrt and accelerate conversations and infcym future strategy on some key communlty engagement and education topics. The six Inleraclfve sessions We￿ led by a rec£Jgntsed host and west panel re￿vant lo the S￿)leCt and drew particpation aThJ an audience Irom across 8nd ￿ts￿]e racing. Guests inthjded repre5enlative5 from Arsenal Fry)Iball Club. Marico￿t Htgh Setrthl. Ihe EFL Tntsl. Ihe 8rth Hotseracing Aulhority. tTV Raang and Ebony Horse Club. lo name a few. Over 250 v•ev￿S eThJaged wilh Ihe Series and planning for a second series is undeThvay follov*ing very ￿)￿l¥e feedback. Important Partn•r5hlp5 and Events RacirnJ Tcwher works closety 5Yrlh the RacecouTse Assoeialion (RCA), BHA publtc affairs team, Great 8rf1ish RacArrfJ {GBR) and stakeholders arKI charitie5 wovkry across the sport.11 ha5 a150 offered in-kind sw)port to thè emerging Naiional RacelKrse Week ￿lIlalb¥e Ilurry its year. RaciThJ Togelher Presented lo the BHA'S Gra￿ale Deve[OF￿enI protyamme atteThke$ 2021 and intends to grow Ihis aGlivity to ￿Qaden awareness ol the wiitsatwe. During CoviJ-19. the Raclng Together website was a hub for the sporfs community response to the pandemic and impacls of lockdrywn - from food ba￿$ lo NHS f￿lser$ and hosthng vaccinalion stes. The team was very active in sourctng St￿leS and supporting a range ofefforts of indNiduals and racing organisètions. A strategy lo position Racing Togetherf5 conth"bub"on lo the sport's recovery indude5 %>rne excitry Comm￿lty inilialives and pilot pro￿¥m￿¢S bj come in 2022, irthding phase ￿ of the Autism in Rècing programrne and a new Yoikshir8 Beacon Prtyramme P*>L Futurt Plans New pr0￿C1S aThl initiatwes in 2022 Nthe: To recrul, as requred. nw)re ndewrthl Twslees to the Board uslThJ a skils matrtx orthj gukled by Dverslty & IKiusi)n fx)mMiin￿its Maintaln, recrul and train rw sessb)rHI field staff lty depbymwL as fequtred through exppnsSon Recognise and celebrate the charilys 21si wrniwsary of commencing programmes aThJ the 200,000m benefiaary Relum lo a growth stralety lo reach a ￿)rd n￿nber of benthiaries natlonwmde, targeting pathwships where possble Support new Beacon proryamme FW05ition5 in Y47fkslMre and Eps￿￿. *thle maintainwig delvery of the Aintree arKi Nethrynarket Beacons Conltnue b expk)re tho complemenlary work of charilios educalk￿ on garn#￿ and gambling fr posslble collaboratlon Improve the measurement of ethnic divwsity and other beneficiary informatipn Devdop second yearof partnershlp as the thosen racing charity *ith The Raclng League, Integrate the of rw *itual realrty, kit and othertechnology lo enhance programme experierKe Take frmrd Ihe ￿¥tsed strategic objeclives ol leading ￿ expand￿ Racing Togèthèr partnèrsh Assess f￿dIng and resource raquirements in line vrilh slrategy 10 Racing ￿school (ocompapjy limircdbJ'wiLmniee} Annual rLWt Rcgisi#rd number 7958174 Reo5tabli5h and increase participatK￿ in ￿ Racing Togelw CommLmlty Day for empb)yee volunleerln9 and reinstate Maslerclass event In associat5￿ wAth the RCA ftyrncec4ju￿es and raciTWJ industy organisallons Support cwdinalion of rw Yoth5trM're Beacon CommuThty Project pilot Grow commlmlcations and platfom audienee$. wthlir¥J developmenl of the c￿11￿ Direclory of community activity Support olher rele¥&)t iidustry strateg￿. wKkrfliThJ thversty and Ir￿U$l)n.. Horse Welfare and raung's People Agenda once claiified through the BHA'$ ntwnal Strudwe and Strategy revie*. Fundralslng The charity was pleased lo receive paYTh￿nts from the H￿Serace Le¥y BettlTrJ Board IHBLBI In 2021 for Racing lo School arKI Racing Together actriibes. wilh fLWKlww agree(I lo March 2022. The Racing Fo￿dation provided a sman grant ui Su￿¢¥1 of Racing Togetherf5 coordlnallon ol the Aullsm in Racing pilot and welcomed an app1Kati(￿ for a C￿ti￿allon grant in 2022 to Ihe three-year funding pro¥hJed in support of the Pinlree Beacon, Ilders. Progamme and the charity's CRM cost5. The year was another difficuli on8 for charitable fundraising, with Ra)ng lo Sctthl's I￿ome slr&*ns of schDoI. racecourse arKI voluntary donations swpress8d until later in Ihe year. A number of restricted grants wwe carrted forw¥d to be used against aclv4ity in 2022. The charity's inclusion on Ihe Research. Educallon aTrJ Tralning list IREfi en$￿eS il is an approved recipi8nt for relevant donati¢)ns from gambling operators and speufK payments were recEived. Two donalions (Racing Lotto raffle and dwect from ihe Racwwj League) were received in ts period through being parlner charity ol Ihe new competitw)n. The charity registered with the Fundraiwng Re9￿310T. Trms deMr￿straIes a commitment lo the RegulaloT's rundrai5ing 51andards and cerif￿5 that best practke is frAlowed. Compliar￿e with th8 Funthaising Regulatorfs requirements ¥ivolves Ihe indusion of its bad9e on dl l￿draiSIng mal8rials. A statemant wll appear in the charity's annual rep)rt fty 2022. Olher funders Ihat supported not previously mentloned. S* Peler O'sullevan Chadtable Trust., John Pearce Raang: HDH Wills 1965 I￿aritable TfusL. JodE arKI Mary Elliol PAemwl Tnjst.. Racing Lollo vla Chrislmas Raflle. Covkts19 Pandemlc The Covid-19 pandemic created a Sig￿rICant amunl of uncertainty and diSrUp￿n across th8 charity seclor and beyond. The Trustees and Executive wish lo record Ihew tha￿ for the stairs adapL*silty and flexibiTrty in addresslng Ihe changlng needs and chalenges of keepwu the thwity prowsln9 meeting Ihe expeclaliDns of varled beneffici￿ groups arKI partr￿r5. Flnanclal r¢vlew In 2021 Raclng lo Schts)I made an overall operating surphjs in the yearof£83.99712020." Su￿1￿5 £80.8161 which COrnWi5es a deficit after translers 01 £28,262 {2020.' £7,910J cffi the General fund, a 5uTplus ol £119.965 (2020.. £86,385) ￿ Ihe Raryng lo sth0￿ Education Prc#Jrnmme. a deficit of £7.706 (2020.. £2,341J on the Racing Together c￿m(￿lty ervjagemenl programme. During the yew. Racing lo Sch￿1 con11n￿d lo support Its charitable objectlves wlih expenditure #i the y of £538.791 12020.. £441,952). With Covid-19 re5trKtions preventing most of the s¢hocA acbvil*s from taking ￿a¢e from mid-march 2020 10 September 2021. the charity furfoughed some of its staff. recelvlng £35,852 frcrfn the g0¥8mment's Coronavirus Job Retention Scheme. Roclng io Scliool (acory￿1jY lim11edby￿1Qr￿NItt) Annual r4y)n nuffl￿. 1958174 Rachvj to Sch¢)ol Educatlon Programmo The charity wa5 fortunate lo mawrtain the 5upp(xl ol its key furKI￿5 in Twhat was another thallengwig year. In addithon to the invaluable support wovided by HBLB by way of a grartt payment of £257.￿3(202o.. £250.0001. the Education Prouyamme also generated fiJrKlraisw rKome of £122.070 in the year12020." £94.3641 whlch luded ￿an1 funding from Ihe Racing Fou￿a￿On. Godolplmn. the Peter O'sullevan Trust and John Pearce Racing Ltd. Ra¢ecourses donations and income Id*d £7.350 (2020." £12.020J and frionds ot Raclng lo Sthool and othergenerous individuals. schools arwj ryganwlions d(￿ated £48.9￿(202o.' £22.9841. There was donated services wKome of £47,54612020.. £nl). Raclng Tog•th•r The HBLB wovlded grant inc(¥ne I(￿ring £96.235 (2020." £84.075J to support Ihe Raciry Together c¢Jmmunlty engagemwl programme. The Racing Foundalion provided income totalling £2,00012020.. £nil) 10 5UPPOrt the Aub'sm in Racing wogrammé. Addrt￿￿ incon* of&NI (2020.. £2.897) was also re¢eived lo support a¢livilies. R•s•rv•s The Charitys reserves as at 31 D•eember 2021." General Flnd 261.335 Resthcled Funds 848.407 Rackng Togeiher 10,749 1.120.491 Total The General fund balan￿ of E261.335 represents free rese￿eS Ihal are approxwnalety 6 month5, Raclng lo S￿￿01 programme expenditure. Th8 Restricled Racing to School Ethcatiw Programme ful￿ is the surptus of all grants and donatiC￿S specifvlly made for Ihe acUvlUes of the progfamme and pro¥hYes (c￿ fvture expansion and suslainablllty of Ihe programme. Gtsnls and dafia￿n$ a￿ re¢ognised in the ac¢cKnls when they are received and where lunds have been raised for advity Ihal is p1anr￿￿ for a futwe year thls can we rise to a surplus on the lund for use lo support futu acbvilies. The Restricted Racing Together relate5 to 5￿p￿S uyant IiThliry *thich wll be used to lurther develop the progrnmme in future years. The TrLBtees' potscy regard lo reserves is to ensure that there are suffKient rese￿e$ lo cover the charity's core annual activity costs in any peric#J of ￿￿e*la￿e fkKIL*iic*¢s wi inc£*me source5 $0 ihat the lon￿terM fviure of the charity Is assured. 12 _**Racing to School (a company limited by g11ara11tcc)**_ **Annual** report **Registered number; 2958174** ## **Statement of Trustees' Responsibilities** **The Trustees (who are also directors of Racing to School for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).** **Company and charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:** - **select suitable accounting policies and then apply them consistently;** - **observe the methods and principles in the Charities SORP;** - **make judgments and estimates that are reasonable and prudent;** - **prepare the financial statements on the going concern basis unless ii is inappropriate to presume that the charitable company will continue in operation;** - **state whether the policies adopted are in accordance with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements.** **The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.** ## **Statement as to disclosure of inf�rmation to auditors** **Each of the persons who are Trustees at the lime when this Trustees' report is approved has confirmed that:** - **so far as that Trustee is aware, there is no relevant audit information of which the company's auditor is unaware, and** - **that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the company's auditor in connection with preparing its report and to establish that the company's auditor is aware of that information.** ## **Auditor** **The auditor, James Cowper Kreston, was appointed as the charitable company's auditors during the year and has indicated its willingness to continue in office. The designated Trustees will propose a motion re-appointing the auditor at a meeting of the Trustees.** **This report was approved by the Trustees on 27 September 2022 and signed on their behalf by:** **Michael Andrews Chairman of the Trustees** 13 f• hmikYlbvstyNinwiL'L') R#B￿l#r￿1 nUM￿,f.. 795B174 Independent Audltofs Report to the Trusta•s of Racing to School Llmlted Oplnlon We have audited the financBI St*•1￿ of to scho￿ Ltd Ilhe'charilable coryan￿> the year ended 31 December 2021 vknich comwise the slatemeni of activities, balance sheet and notes lo the financial ststements, incluthng a swnmary of signif*cant ￿Co￿ting policies. The financial reportin9 frafflewo￿ that ha5 been ¥Jplied in Iheir prewation is a￿l￿ble law and United Kingdom Acc()unling Standard5. including Financial RepK)rfing Stsnd¥d 102. The Finanoal Reporlong Standard apK4*able in the UK and Republic of Ireland (Lhb¢ed kngdcrfn Generaly Puepte(l Nuounting Praclicel. In our o￿nIOn the finaKial slatemenls: give a In￿ and far view ol the state ofthe charil*le compan*s atss a5 at 31 Clecember 2021. and of its irKoming resources arKI apF￿1calioTr of resource5. induding its income exponditure. the year then endEd., have been WOPe￿ prwred in acccrfdarKe *ith Unileil I￿gdoM Generalty Accept&J Aecounllng Practice: and have been wep8red In xcord￿ce tArylh Ihe wirements ol the Companies Act 20C6. Bas1$ for opinion We conducted our in at¢Cffd￿ with Intemational Standards Auditing (UK) {ISAs {UK}l and applicable law. Our resp)nsibilitie$ under those Je fvrther described in the Auditor's responsibilities for the audit of Ihe fina￿￿al slatements secticffl of our report. We are independent of the charilable company in accordance the eltwcal requ1￿Ments thal are relevant to ouraudil of the financial $latemenls in the UK including the FRC'S EthTrcal Standard. and we have fvlfflled our other ethical responsiknlilies in accordance Vlith these rewwements. We believe that the audit evhJence we have obtained is 5uffiuent *KI apFwiate to a ba515 lor opnM. Conduslons relatlng lo golng ccKK•rn In audityng Ihe financial ststements. we have thal the Twslees. use of Ihe goiry concem basis of accounting In Ihe weparation of the f￿￿la1 ststemenls is apwow41e. Based cffl the work we have perfomied. we have not Fdentified any material u￿ertaInties relating to events or ￿ditiOnS that, indi¥idu8lly or colectively. may cast ￿gnificant thubl on the charita¥le CoMp￿Y'S abillty lo continue as a going rthcem for a perict enlilled to wepwe the staknwits in xcordance the smal comp￿186 regime and l*e a(fvanta98 of the smal ¢￿Y￿n￿5. exempt￿$ in wepwing the Trustees. Roport and from the requirement ¢0 a Straleglc Rer￿rt Rospon•lbllltkn of Trust• As explained more frJThy in the Tnt5tees' resF>Msibilths ststemenl. the Tru51ees (who are a150 Ihe edors ol the chwttatle company for the purposes ol company law) are respc￿Sible for the pr¢p•ratlon of the rna￿1 sl•tements for bemg satisf*d Ihal ty give a true fair vtew, aThJ for such knlemal control as Ihe Tfuslees delemiin is necessary to enable the preparati￿ of ststements thal are free from matwial misslat&nenC ￿tsther due to fraud cr erryx. In wewln9 th¢ fmaryyal statem￿. ts T￿￿knes afe resp￿SIb￿ k¢ ass￿r￿j the (harilable company's 8Mty to ￿¢MUe a5 a c(￿. disdosirwj. as aF4)Ivtde. matters ￿lated lo go* concem and u&n9 the tyxng concem basis of accountin9 Trustees *ther intend lo Iwdale Ihe charilable compary or to cease operation5. or have no rea*5tic altematrrfe txrt ￿ (k* so. Audltovs ￿PonSIbIlIty forth• audft ol th• stat•monts (￿robl*¢t1vQ5 rAe to oblain reasonable assurarte thul ¥rt￿ther Ihe fnwKi•l stalomgnts as a Itholo are fr08 from rnalerièl mi5Statement. ￿ether due ￿ fraud or error. and to Issue an Aui*torfs R8port thjt includes our opinion. R8asMable assurance is a high18vd of assuMce. bul is not a guarantee that an audil conducted in accor(1￿Ce ISAS IUKI will *ways detect a material misstalemenl when118xists. Misstslèm•nts can arise fftjm Irwd w efmf we consNlered material if. Midl￿d￿allY ￿ in tt aggregaie. Ihey ctyJld ￿lSOnabty be e¥pethd lo the dedsions of users taken on basls of f#wKial 5la1wn￿ts. 15 Ra¢i¥ig ￿SChool (acoryHMy lrmiledb>￿i￿rWt{CtJ Ann￿1 rLVK4 Re￿5￿Y￿ numlKY.' 2958174 Because of the irtherent limitstA)ns of an audil. Ihefg is a risk that we wlt I not detect al irregularifjes, indudiThJ Ihose leading to a material misstalemenl in the financi4 slatements or nonwrflilml nel movemenl in hJnds lor the Tota luThls brouW foTh¥ard 14 112259 83m7 80.816 14 289597 746.897 1.036.494 955.678 Total lunds rAIrf￿ forward 14 261.335 059.156 1.120,491 1,036.454 The Company has rK> recogrmsed gains arKI 105ses olher Ihose Included in the results above and tharefofa no separate s¢alement of the total recognised gawis and losses has been presented. The￿ is ijfference betr*veen surplus for the year staled ajove and the his¢orical cost equivalenL 17 Ro¢ipiiTr fo Scho (u cow1￿￿Y11WJ1ICt1bY%1lUIyWliL.VJ Anttual rLV)n RC8i$￿ThI Mnkny.. ￿5%174 Balance sheet at 31 C*ernber 2021 Y•ar ended Year ended 31 Dec•mbDr 2021 31 2020 TarNJitAèfLKed a5S8 io 3.213 Currert assets Debtors li 15.312 528.529 834,596 15.6 383,402 821,510 1nvestffl￿ts 12 TO￿ CUrwtA5￿ls 1.378A39 1220,512 LlablllU•s Cre(lilor5 f￿1￿9 due ¢￿￿ 13 {262.582) 1187.231) N•t curr￿ta5$ets 1.115.857 I￿33.281 N•t assets 1.12DA91 11J35.494 Fun UnresirKted irK>Jme ￿n￿5 Reslric*d MicJ)mè funds 16 261.335 859.156 289.597 746,897 Total tharfty funds 1.120.491 1 J)36,494 The financial slalements have been Pre￿ed wi accr*d￿ with the Charities SORP FRS 102. These finanual stalements apwoved by the Lwrd ol Tntstees 27 September 2022 and signed on ils behalf by. Michad An(keTHS Ch8ffman olthe Trustees 18 (orornponYlimi￿dby￿I￿r￿17Icej Annual r4)on Rq￿CTed number.. !958174 Notes (k￿rnIng part ofihe financial stalements) Basls ol a¢￿untIng and stalement of financlal acllvities The fin￿CIal stalements have been Frfepared in acoJrd8nce ￿lih Accounting and Re￿rtIng by Charities.. Statement of Recommended Praclice appli¢at4e lo ch*ities preparng their accounts in accordance ￿1th the Fmaneial Reporting Standard appI￿able in Ihe UK and RepL*JI￿ of Ireland IFRS 102) leffedive 1 January 2019) - (Charities SORP IFRS 1021). the Financlal Reporting Standard applicable in the UK and Republ￿ of keland IFRS 1021. the Companies Act 2006 and applicable charity law. Raang lo Schoc4 meets the defffiillon of a benèfii entty U￿er FRS 102. Gthng ct>nc•rn Thè Tfttstees bdieve thai the ￿aCed to manage its business rlsks SLKcessfully arKI are confident that the charity has adequat8 resoL*ces lo contiNe in operalional existence lor the foreseeable future. Thus they conlinue lo adqjl the gcATVJ corKem basis Ofa¢￿unting in preparing the annual fin￿cial ststements. Tanglblg fixed assgts The cost ol tangibk fwed assets is their cosL logether with any I￿Idental cost5 of acqulsition. Depreoation is calculated so as tOV4Tite off the c05t of Ihe *ib18 fixed assets. less theirestimated residual values. on a 5traighl line basis over the expected useful econThnlc fve5 of thE a5set5 concem8d. The rates used for Ihis pwpose are: C￿PU(erS other equipment I￿20% Op8rnting leas•s C0515 in respect of qHaling leases we clwrged to Ihe Ststemenl of Financial Actwilies in Ihg period kn whith they are iwjrred. Debtors Trade and other debtors are recognised 91 Ihe transactw amounl du8 after any trade discount offered. Prepayments are valued at the an￿nI Fnpaid net ol any trade (fisc0￿15 due. Cash Cash al bank and cash in hand #Kludes ￿rrent account balance5 and cash held in instwt access d 90 day nolKe xcounts. Crpdhots andprDvi51on5 Crethtors and provisions are recognised Ihe charity ha5 a present obligation resulling from past event Ihat will probabty result in Ihe transfer of funds to a third paty and the amount due lo setue the oWb3alion can be measured or estimated rdiably. Creditor5 and provisions are nomially recogrused at setuemenl am￿rnt after all￿*1]rt9 for any trade discounts due. Investments and*n￿SIn￿nI Income Current asset investments are long4erm cash deposts requ￿n9 notKe of 90 days or l¢Jnger. Interest is acco￿ted fer on an acxruaL8 ba51& Financial InStruM￿ts The charity ￿lY has finewai assets aTrJ fmanrAal Kabilities of a kwKI that qualify as basic finandal inslrLmenls. Basic finarri￿ instruments indude cash investments and we initially rEcognised at transactk)n value subsequenty meas￿￿ at Iher setuement v**. 19 (u LvJNFfmy limllLttlby￿z￿lnIiIlltv AhnuDI rorM)rt R#gistsr￿l nunkn¥Y.-ry58174 Notes (CL￿11nued) Accountlng polkles {cc•)tinL*d) Taxation The Trustees believe that no c**ge lo UK ecywalknn tsx viill arise in respect of Ihe year 10 31 December 2021 (2020.. £nlJ as all aCti￿S of Ihe company during year were ol a charitabl8 natwe. The ccmnpany has charilable Sta￿5. and a general exempti￿ from laxation has been granted Lmder Section 5C6 ol the income and C0rptyati￿ Taxes kl 1998. Judgements in applying accountlng policies andkey sources of Inf0rn?ath￿ 1￿CertaInty In detemiining rf leases enlered inlo by Ihe charfty are or operating leases. Ihe lease ha5 been assessed to delermine %thelher Ihe risks and Thr￿ds ofo*neTrhip have baeTh Iransferred to Ihe lessor by the lessee on a *ase by lease b￿& Ponslon costs The charity does rnL itsdl. operale a scheme. Al employees ol the Charity now belong to Ihe defined contriwtion scheme. operated by the BH Allocation oloverheads A re￿eW of the overhead alocabon is CO￿l￿le(l lo rnre it xonlely rellect5 the level of support costs used by eath acb¥ity. Income and Expwdhu Incomin9 resources are d*ived intsty and sewwbernting s0￿ceS and are retsJgr•sed when receivknle. Income is Mly defened vA*re the (k)rhx has that the amounts recefved are for use future accounting periods. se￿￿e5 pro¥lded at zero cosl to Ihech*ity are recognised as vo￿￿tary donaled income and costs an estimaled mwket value basis. Grants paid represent thwitsble grants paKI. These we accounled for on an accruals basis. Other drect charitable expendilure payable in Trpresents cosls directy related lo furthering the objects.ves of the Charity. GovemarKe and supwt costs o)ryise ojsts payth for the nffming of the charity In complianc* with constitutional arKJ Statu￿ reqillrements lor the The tharity 15 not VAT rgi5tered aTrJ Irre¢ovvable VAT is wKluded vath the item of expense to ch it rektes. FUl￿ACcOun￿n9 FurKls held by th8 ch*ly ¥e eilher. Unrestricted ge￿ra1 funds- these are ￿J￿IS tr￿t can be used in acccxdance U)e charltable objectives at Ihe discretp>i of Ihe Tntstees. Restricled fimds- these are fu￿ts that must be used in a(x4Jrdance wlth the )vemment g￿1$ . Oth•r ir￿miNj rest￿￿ In¥estment Incom? - Bank interest 257,SO3 26.071 47.546 11M> 250,(X)O 21.042 37213 190,439 49.775 4,859 35,852 30.129 5282 6.653 Totrl 559.981 Income includes a l>lal of £573.070 for speryfK reslrid•J acINiti￿ (2020.. £470,166). 21 Rrtcuig io &,hool ADuuThI rLP) R¥t15t¥rd Th*￿¥T.. 29511174 Notes ((x)nlinued) Analysls of costs of charitable xtlvltles and generatlry volunw contributlong T•)tal As re5t8 2021 2020 undertak dlredty Nots 6 No¢e 7 Acllvlty Aa(in9 edwalion r*O￿arnMe Raong Together nmuThty 8ng•J•mert 314.794 107,T25 375.767 378,374 40,441 106.265 90,054 T*)l•l 380.388 148.166 528.$54 466.428 Crnma￿ec0Sts ￿ 9 10.2J7 10237 10.737 Tclal .388 158.4 5*791 479.165 AnaI￿lS of a¢tlvllles undwtak•n dlr•ctty Total 2021 As restated 2020 Tog•th•f •ducatlon fund Slaff ojsts PrintIn￿de¥￿0p1￿lt Vohide costs ProgrwnnE delivery o)sts Cthw o)sts F￿)dra￿￿1PR 57.128 194,433 1.022 22.821 f4).176 251.561 1.022 21821 219.035 19.681 41.716 4.451 5,384 42.197 31091 31.891 Total 31.891 380.388 352,036 Rucing lo￿1￿1 {u ¢oWtyiylimiidby￿l￿r0IJIÈ¢) Annual r4Jon Re8tstUL￿ numbw. •958174 Notes (continued) Allocation of 5UPPOrt costs and ov•rheads 20 As restated 2020 Rathg Together Raclng lo Etheatlon Total Statt L Property crslg 31047 2,495 2B2 343 100.143 7.560 854 1,039 9.106 269 1309 99,624 $72 Office costs Vehlde e£tsls Staff devdopmw Travel Prnrrnlh7nol m*erral 876 6.101 179 762 1.547 724 435 3.744 1.373 Depreciation L￿nated say 21.525 21.525 18.520 40.441 107.T25 148.166 139.415 In 2021 support cost have been allocaled lo beN¥een Ihe C￿l￿e5 two actwities. Ihe Racing to Sthool Pro￿arnMe arnj the Racing Together community engagement progiwnme. ￿There ssible costs have been sp￿lfi￿lty allributed. V¥herE this 15 not possible costs have been on ts basis of 33% {2020.. 33%) to Racwu Together and 67% (202Q.' 67%) Racing lo SchocA vhiich r8we$ents an ap[￿￿MaIloft based on l#ne. 23 Rrtcivg io &lJool (u C￿￿panyI1￿rIf&ylbyS1¥Uru1Ilcc) [l•y￿ numb¥Y.. ?9S8174 Notes (continued) Y•3T •nd 31 Decernber 21121 Year ended 31 DecAmbor 2020 Authtsys remunerabon S*atulory lees Légal ath"c• and ConS￿￿n￿ services Twustee expenses aThJ rreetiThJcc6ts 7260 5.700 217 2AOO 2,3¥2 245 10337 10.737 10 Tanglble fixed assets Totsl Olher Cost Al l January 2021 19*0 3.112 19,950 3.112 Al 31 Decwnbw 2021 23.062 At 1 January 21r21 Charge ts the D*po 16.n7 1.691 16,737 1.691 At 31 DtrAmber 2021 1B.428 18A28 Nel boolr value At 310ecembef 2021 4.634 At 31 2020 3213 3.213 Fix•d assets held dwng tr* yew c￿SiSt of office eqw)ment that are both fLY direct charitable and related administrative PLYposes. The deweoation ￿￿￿ged on these Ilems has been cknled support costs. 24 Raciii¥ knsdool fu Cury￿lY IzmiiedbyguGraJiÉee) Annual rLVJrt RL¥iAerd ?958174 Notes (continued) 11 DebtorJ 2021 Trnde debtors Other debtors Prepayrnenls and acwed irKome 7.886 2.171 5.255 2.754 9.812 3.034 15.312 15.600 12 Investments 2021 95 notsc8 120 day notic8 acts)unt 3 yearflex*sle tenn depJ5it 449,695 384.903 447,808 302 373.4(K) 821.510 13 CrnditQT5: amounts falling **lthln on• y•ar Other ¢yeditow5 Accruals and delwd IrKthne 116.322 146260 68.318 118.913 261582 187.231 Rariirg lo Scli(MpI (athmpoiy limikYlbygNdruiiieo) Annual r4prt Reg15Kir￿ numb¥r.' 2958174 Notès (ccnfr 14 Rqconcillatlon of movwnwrt In a¢Gumulatod fu￿1* 2021 Fund Fund )c•s Galns balane• IYOW Outgolng nd earrl•d lorw¥d r¥swr¢es rns¢xrn Transfern losses forward Fund N•m• General Fun General 49.718 (42.128) 135,8521 261.335 Restrlctad Funds Rxing lo Sclth Educ* Programrne Racing Together 728.442 474,741 13W,628) 35.852 848.407 18.455 98329 1106.035) 10.749 1.036.494 622.788 1538.791) 1.120A91 2020 Fund l)alan¢e c•rrl•d balanc¥s As rgstèt•dAs rnstat•d Galns and Fund 14ame G•neral Funds General 297.￿7 52.602 (10.737) (49.775) 289.597 R•strlct•d Funds R*ro 10 School Educ*n Prcgramme RwiThJ Togeth 642.057 420.395 {381685) 49.7T5 721.442 16.114 87.084 184.743) 18.455 955.678 559.981 (479.165) 1.036.494 In addibon lo R*iryJ lo SckKrfs education programme. the charity is responsible lo Racing's communrty erKJagement wogramme Rxwig Togthher. Income received by the thwity specifK for the Racing lo School educati¢￿ programme days has been recognised as restricted income. This ndLKles grant funding fmm HBLB. Income received by Ihg tharity ts rw)n-spe¢ific xlivity has been trealed as g￿er¥I fund income. A transfw of £35.852 was made Ir￿ the General fund to restricted EduCa￿n Programme fwKI respect of CJRS wt ￿￿ome (2020.. £49,775J. The restrKted Education Prowamme fund d £848.407 relates to lknalicffls given spedknlky to surp¢xt the tsi-pirwJ I￿rk of the Raory to Fwamme. The Rwng Together restricted fund of £10.749 rdales to granl fuThling provided by the British Hor5eraring Authority for community ￿gagement PrOgran￿$. kn acCo￿￿Ce V+ith Ihe granl terms, unspent funds at the Yea￿nd are held in a reslricied reserve to I￿￿j future 8Ctivlty. 26 Roeing lo School (o tt)wy limi1edby￿I1zrcI1Ce) Annu41 rLTA)rt Re￿S¢eved mimber ?956174 Notes (continuedj 15 nsion Scheme Th• Charity does Mt, itselt. operate a pth)sknn scheme. Employees of Ihe Chwity belong to the British Horserncing Athhoiity PensM)n Fund (The Schem8'1 d8fin8d Contribut￿Tr scheme. DLving the year. the Charity arwj ￿p￿e$ 8fe paying contr1￿liOnS to The Scheme al the rates reccthmersded. The Chari￿$ conlributsons to The Scheme in 2021 was £24.872 {2020." £24.212). £787 was a150 paid in respect of kfe aSsura￿e (2020.. £766). 18 Analysls of n•t ass•ts ￿￿¥••n fvrNls as at 31 De¢￿be1 2021 Total Fixed a55ets Cash ai bank arKJ in¥e51merts Olhercuffeni assets Cuffent lialylit 4.634 1,094,741 1 J63,127 15283 15.312 {255￿02) 1262.5821 {7.0￿1) 261J35 859,156 1.120A91 17 Flnanclal commltments Al 31 Decemter 2021 RaciThJ to S(*wl had totsy commitrnents under ￿n•canCell*le operaiing leases as foll¢)ws: Motor Ilotor Exwn9 within oney Expmng bewn onè five y 17J68 23J22 18.951 25.464 412 44.41S 18 Llablllty of membeys The rneMbe￿ ollhe company have undertaken lo contrlxrte a sum not exceeding £1 each to mepl the liabilities of the c¢)mpany in tha event thal r( ts w. 27 Racriig lo Scknol (4T¢w￿*Y1t[WilC￿by￿I(irllplic¢) Annwl r4)0rt RLyis1L¥￿ numlKr. ?958174 Notes (cortMMiedJ 19 Related party Iransactlons The company has transacled with the folltkwrvj related wties. all of which are related by vvtue ol one of ¢heir employees. appoinlments. Of bdNJ a dweclorof Ihe company. Delails of sales rechwJ8S to and administralNe exFenses I￿1Thed from related part￿S are detaded below Athiinl4r¥ir4e exp￿e5 imirred 2020 2021 2020 13.615 291,048 350.OS7 Related paty iTh*Kled in yew eThJ deblors and c¥editors were as fo11th￿. 2021 3J20 British A￿lIty ¢&8y a￿) RacKouws 114.4KI 66.122 During the year Ihe ch*ty rec￿￿d £125 in dork71￿5 from 2 Tntrs and their families (2020." 0 Intslees £nil). Ultimate conlrolllng p RacAng to Schc#)l is controlled by its Boad of Trustees. ACCO￿1￿￿. Ihere is no SIn￿e inthvidual that ￿. or does. exert ¢￿trol over the tharity. 21 Prlor Year Adlustm•nt A prior year adjuslrnenl has been entered in relation to Nduntary donated seThlces income and the associated cosls. As tt* is a grossing up ad￿strnent the net irnpa￿ on reserye is Thl. 28