Racing to School
(a company limited by guarantee)
Annual report
Registered charity number 1040590
Registered number 02958174
31 December 2023

Racing to School
la conipany limitEdbTr giiL7fL7nlgg)
Annual Teport
RegigteTed nurnbei." 02958174
Contents
Page
Slruclure, governance and management
Report of the Trustees
Statement of Trustees, responsibilities
15 Report of the independent auditors to the members of Racing lo School
18 Statement of financial activities
14
19 Balan￿ sheet
20
Notes

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
Structure. governance and management
Racing to School is a company limited by guarantee under a Memorandum of Association dated 12 August 1994
(Registered company no: 029581741. Racing to School is also a registered charity (Registered charity no..
10405901.
All Trustees as at 31S1 December 2023, who are members of the company, have undertaken to contribute a sum
not exceeding £1 each lo meet the liabilities of the company in the event that il is wound up.
Members
The Membership of the Company allows for up to len persons in total, appointed in accordance with the following
provisions..
al One person shall be appointed by each of the bodies noted below (provided that the persons appointed
shall not be an employee of the body which appoints them) (Article 5al'.
the British Horseracing Authority
the Racecourse Association
the Thoroughbred Group
bl Up to seven co-opted members shall be appointed by the board IArticle 5bl
c) Members shall be appointed for a period of up lo three years, and upon expiry of such period shall be
eligible for re-appointment upon the same tem)s by the body which appointed them lin the case of
members appointed under Article Sal or by the Board lin the case of members appointed under Article
5bl. Members who are not so re-appointed, or who are disqualified as members under Article 8, shall be
replaced by the respective appointing body. Members who are also directors shall not be entitled lo vole
at Board meetings in relation to their own re-appointment under Article 5b.
All newly appointed Trustees undergo an induction programme and receive a Trustee Handbook.
Trustees and dlrectors
The Trustees of the charitable company are also the Directors of the company for the purpose of the Companies
Act 2006. The Memorandum of Association slates that ￿rtain organisalions musl be represented on the Board.
These organisalions pul fonNard possible candidates lo the Chairman of the board who are then elected, if
appropriate.

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
The Trustees of Racing lo School between 1 January 2023 and 31 December 2023 were as follows..
Organisalion
Independent Trustee
Independent Trustee
Independent Trustee
Independent Trustee
Independent Trustee
Racecourse Association
Date of appointment
30 May 2017
21 September 2020
2 December 2020
Dale of resignation
Michael Andrews (Chairl
John Baker
Anna Lisa Balding
Paul Brewster
25 March 2019
Camilla Dutlon
16 August 2023
2 December 2020
British Horseracing Authority 22 February 2017
Independent Trustee
16 August 2023
Thoroughbred Group
Iformedy Horsemen's Group) 26 June 2018
Independent Trustee
30 May 2017
Jacqueline Greet
Andrew Merriam
Andrea O'Keeffe
Kevin Parsons
Clive Wisby
Day lo day management of the charity is delegated to the Chief Executive, John Blake.
Registered address
7th Floor
Holborn Gate
26 Southampton Buildings
London
WC2A 1AN
Professlonal advlsers
Bankers
Wealherbys Bank
Sanders Road
Wellingborough
Northamplonshire
NN84BX
Sollcltors
Royds Withy King
Cross Keys House
27 The Parade
Marlborough
SN8 1NE
Auditors
James Cowper Kreslon Audit
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG196AB

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
Report of the Trustees
forthg year 31 Decernbgr 2023
The Trustees present their report and the audited financial statements for the year ended 31 December 2023.
The annual report and financial stslemenls of the company comply with current slatulory requirements, the
requirements of the company's goveming document and the provisions of the Statement of Recommended
Practi￿ ISORP} applicable lo charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191.
Organisational structure
Chair
Trustee Board
Chief Executive
Senior Finance
Business Partner
Racing Together Subcommittee
Nomlnated Trustee Chair
Education Programme
Manager
Fundraising &
Communications
Manager
Community
Engagement Manager
Regional
Education Officer
Fundraising &
Q)mmunications
Executiv
Education Prograrnme
Sessional Staff
Objectives and activities for the public benefit
Objectives
The objectives for which the charitable company is established are..
To advance the education of the public in the subject of horseracing and thoroughbred breeding including by way
of designing, developing and delivering education and training courses, promoting and advancing vocational
education, training, volunteering, well-being, employability and community engagement programmes lin each
such case for charitsble purposes).
The Trustees confirm that they have referred lo the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the charitable company's aims and objectives and in planning future
activities.
To help Racing to School achieve its mission the following strategic objectives were determined as the main
targets in 2023..

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
To continually develop, implement and evaluate- intemally and externally - education programmes for
the benefit of an increasing number of young people in association with the racing and thoroughbred
breeding sector.
To financially support existing and new programmes in line with its charitable objectives.
To further embed and progress the Racing Together partnership and provide a central resource for the
sport of horser8cing in support of its community engagement.
To maximise resources and operate as a quality employer and encourage best practice.
The priorities identified to achieve these objectives included..
To deliver Racing lo School Programmes that give a wide cross-seclion of young people nationwide an
opportunity lo enhance their school and college studies and improve their knowledge about the sport
as a potential employer_ This is achieved through active, outdoor learning engaging many facets of the
racing and breeding industries.
To work with Trustees, internal and exlemal stskeholders to review the design and delivery of the
programmes.
To further invest in a small fundraising function to help secure funds within and outside the industry in
support of the delivery of Education, Career and Community-focussed Programmes.
To work alongside stakeholders and other relevant bodies lo develop Racing Togelher's contribution lo
the sport and ils leadership in enabling and showcasing community activity.
To improve and innovate communication channels lo raise awareness of the charity's work and impact,
and ils case for support.
To ensure the Trustee Board remains effective with a balance of relevant skills and are fully infomied
despite the need for adaptation lo a hybrid meeting schedule. To build capacity lo allow for Trustee
support of delegated committees and additional Board activity as required.
To maintain professional and experienced financial, HR and, as applicable, legal support through an
agreed Memorandum of Understanding with the British Horseracing Authority.
Principal activities
The Charity delivered two national Programmes in 2023, the Core education activity days - the Schools,
Programme- and the Riders, Programme, which is focused more on the sport's training and career
opportunities, and that is fundamental to the Pony Racing Pathway partnership. The 2023 programme delivered
another record year of participation..
A total of 400 Racing to School evenl$ for 16.274 young people were delivered against a target of
410 events and 16,000 participants.
276 S¢hool$' Programme events were Stsged engaging 11,716 young people. nine events short
of the plan of 285 but engagement exceeded the target of 11,250 participants.
Riders, Programme activities totalled 103 events benefitting 3,838 participants, which was aight
more than planned and engagement was ahead of the set target of 3,750.
The charity delivered a mix of 21 additional learning and community events for a total of 720
participants, slightly below the planned 30 and engagement target of 1,000. These events are largely
dependent on partnerships and the yearly target provides headroom in the planning to accommodate
requests for support that may be made during the year.
The Racing Together programme for the year was shaped by the sport's continued efforts to support ils
communities, alongside the ongoing delivery of strategic pilot programmes, such as the planning and delivery of

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
the Autism-friendly racedays and the Yorkshire Beacon. Expanded details of the 2023 activity are contained later
in this report.
Alignment with other industry strategies and workstreams ensured that Racing Together contributed to and was
a valuable asset lo wider industry needs, including the initial strategic work undertaken in the industry people
space by the British Horseracing Authority IBHAI. Strengthening the communication channels and activity of
Racing Together was prioritised, with the website providing the central information hub for the sport's Diversity &
Inclusion Steering Group, and the portal for the stakeholder Directory of Community Engagement and Education
Activity, as well as news, features and a range of other resources aimed at supporting industry partners.
Public Benefit
Access lo participation in the national Racing to School education programme is unreslricled within the
budgeted resources of the charity, though for most of the activity, the locations of beneficiaries and their proximity
to suitable racing-related venues is an identified barrier lo participation in the main programmes.
Targets are set for unique educational and careers-focused interventions for schools in inner city, deprived and
disadvantaged areas, including provision for pupils with special education81 needs andlor disabilities within
mainstream and special schools. Benefits arising from participation are many and diverse, including specific help
with relevant curriculum subjects, increased motivation and raised levels of understanding through enriched
studies. The programmes aim to support young people's social and emotional education, combined with physical
wellbeing intrinsic lo the settings and construction of mainly outdoor activity learning. Appropriate to participants,
age, informed access lo the range, associated training routes and guidance lo career opportunities within the
thoroughbred racing and breeding industries are embedded across the programmes.
Of the 195 individual schools and colleges the charity partnered with throughout the year, 290/0 of those who
participated are located in inner city, rurally isolated or deprived areas. Representative data shows that 120/0 of
young people engaged are from ethnic minorities,. 1001. have Special Educational Needs andlor Disabilities
ISENDI,. 110/. have English as an Additional Language IEALI, and 270/0 are eligible for Free School Meals IFSM).
The charity leads Racing Together's work, consisting of a partnership of varied organisations active in
community engagement across British racing.
The mission is to instigate, enable, support, measure and communicate the sport's varied and positive impact
on the communities in which il operates, through partnerships and alignment with relevant industry strategies.
Strategic report
Trustee Board and Stsfflng
Al the end of 2023, the Trustee Board numbered 10 members, the maximum allowed in the Board's governing
documents, with two new independent Trustees - Andrea O'Keeffe and Camilla Dutlon appointed in August.
Michael Andrews continued in his role as Chair throughout the year.
Appropriate guidance and updates were given lo the Trustees concerning their duties and the expectations upon
them in their role in support of the charity s objectives, and more generally from the Charity Commission.
Most full-lime and part-lime stsff roles remained as in previous years and the charity's programme delivery was
supported by a team of trained 'sessional' employees. The charity welcomed Jen Gales into the Fundraising and
Communications Manager role on a full-lime basis.
The charity moved ils office during the year, maintaining an agreement to take up rented desk Spa￿ with the
BHA, at a reduced cost year-on year., Racing to School continues lo benefit from an agreement to access specific
on-going support from the BHA'S Finance and HR teams.

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
Racing to School is grateful to its team of Ambassadors from across the racing industry who offer support in a
number of ways, both through enhancing the impact of our delivery days and in raising awareness of the charity s
mission.
Communlcatlons and Donor Management
The charity's work and impact We￿ supported through a range of internal and exlemal communications, and it
received media coverage throughout the year
through TV and radio coverage, and in print and on-line.
Presence on social media platforms is constantly adapted to reach a range of audiences around awareness and
fundraising goals, and to share impact and extend educational and community outreach work.
The media footprint is logged and reported alongside specific benefit-in-kind received, such as horse race titles
being assigned to the charity by racecourses and the provision of private rooms free of charge to beneficiary
groups.
The CRM system tracks event activity and supports donor management pro￿$Se8 across a range of Grant
givers. Trusts, racecourses, schools and other donors and industry partners.
Education Programmes
The free and unique Racing to School Education Programme is made possible through generous voluntary
donations.
The aims of the charity's education programme in 2023 were to..
Deliver a positive impact on young people's learning, helping them to develop their knowledge, skills,
confidence and interest
Increase young people's enthusiasm for and understanding of the racing and breeding industries
Improve young people's awareness of and interest in employment opportunities available within both
industries
Support the industry's role in driving social benefits within local communities and with opinion-formers
and influencers across Britain.
All the primary aims and objectives that were sel out for the Education Programmes in 2023 were achieved. The
charity was able lo exceed ils participant largel and each of key participant measurements was met, so loo the
expectations of teachers in terms of organisalion, conlenl and delivery of the programme. 11 Can be reported that
1000/0 of the polled teachers and teachers, assistants agreed that they would be interested in future events
provided by Racing to School.
The charity maintained the Learning Outside the Classroom ILOICI Quality Badge, a national accreditslion by
the Council for Learning Outside the Classroom ICLOtCI. for a further two years. Its renewal demonstrates that
the charity offers young people a high-qualily, outdoor learning experience, bringing the curriculum to life using
racing's unique venues.
As highlighted earlier in the Report, the charity exceeded ils overall target of 16,000 beneficiaries, posting a
record year in terms of participation. The team delivered 97.5'/01400 of 4101 planned events and reached
11,716 Ifrom a target of 11,2501 young people through 276 Itargel of 285) inclusive outdoor learning days
hosted across a diverse range of racing and educational venues.
Regular evaluation is undertaken lo ensure that activities complement the developing school curricula and
wider education priorities from school to national level. Cross-culling themes are woven into programme
activities where appropriate (such as health and wellbeing, the environment, elcl. Of those teachers suNeyed
in 2023, 100 /0 agreed (with 94 /0 agreeing slronglyl that the programme had enriched pupils, learning, and 99 /0
agreed that their event will improve pupils, perceptions of their school subjects. These figures are consistent
with the previous year.

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
The charity's programmes are attuned lo the needs and priorities of the wider horseracing industry and its
commitments lo staff recruitment and retention, safeguarding, and diversity and inclusion. Highlighting potential
career opportunities available within the industry was regarded as successful by 980/0 of leacherslleclurers who
confirmed that their students were better informed following engagement with a Racing to School activity.
The Riders, Programme worked with a growing number of eqLJine college partners across the country.
During the year, 37 Equine College days were held that benefitted 1,357 students. These events included 12
college visits, 20 racedays, three studlstable visits, and two careers, fairs.
The charity is very grateful to the studs and stables that allowed the students to go behind the scenes and leam
about life within 8 busy racing, training or breeding facility. The evaluation supports the growth of this
programme in recent years. Of the young people who took part in events, 580/0 had not previously considered a
career in racing. After their event, 950/0 agreed that they now have more knowledge about the industry and 920/0
knew more about the potential careers within horseracing. From this, 81°/o now have a beller lor the same
positivel opinion of horseracing, and 71°/o confirmed that they would now consider a career in the industry. This
data is broadly consistent with past years when less activity was delivered.
The inslruclorsltulors involved in the programme in 2023 fell that their students had received a positive
experien￿, and all agreed that their own knowledge had increased about the horseracing industry and the
potential Career opportunities. Engaging with the college organisers helps extend the impact and reach of the
charity's activity through their knowledge transfer to students unable to attend and preliminary work with other
year groups in the future.
All college leaders confirmed that they are now able lo support their students and would actively encourage
them to pursue a ¢areer pathway in the sport.
The charity formed a Teachers Advisory Group ITAGI in 2023, with representatives from primary, secondary
and special edu¢8tional needs schools, so loo some Board Trustees with specialist experience in this area. The
objective of the group is to provide professional insight from the sector, as il relates to the applicability of the
charity's programmes and materials, evaluation, and the changing needs of young people in educational
settings.
Beacon Programmes
The charity works in partnership with all racecourses in Great Britain and they are considered beacons for the
various groups of young people in their community who attend activity days, and when they may return lo enjoy
a day s racing independently of their schools or colleges.
Two specific and long-standing Beacon Programmes engaging schools focus on providing an enriched mulli-
activity programme that involves outdoor and in-school learning, in collaboration with a range of partners. The
eighth academic year of Ainlree Beacon Programme was supported by funding from the Horserace Betting
Levy Board and a grant from Anne Duchess Westminster's Fund. Global breeding and horseracing operation,
Godolphin has kindly funded the Newmarket Beacon since il cOmmen￿d al the start of the 2016 academic
term.
The Ainlree Beacon engaged around 1,200 pupils across one High School and three associated Primary Schools
near the racecourse.
The programme reached 930/0 of ils annual engagement larget1240 primary pupils and 880 in secondary).
There were 13 inclusive educational events held across the year, with three visits to primary schools, two event
days at Maricourt High School, plus eight non-raceday artivity days at Aintree Racecourse, including the very
popular Pony Education Days.
The Newmarket Academy Godolphin Beacon Project continues to engage all year groups al the school in
various aclivilies, ranging from careers speed dating to a sculpture masterclass, and a visit to Newmarket
Racecourse for pupils lo enhance their understanding of the hospitality and leisure industry.

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
The popular Dubai Future Champions Education Week, involving many inter-related racing organisations based
in Newmarket was delivered as usual in October for the full Year 8 cohort. with part of the event covered by ITV
Racing.
The charity is also supporting a wider community and education project involving Go Racing in Yorkshire and
its member ra¢e¢ourses and other industry assets in the region. Racing to School activity has contributed lo the
outreach work of Epsom racecourse with some local education partners and developed a tailored multi-event
programme for a secondary school with easy access to Newmarket racecourses and The National Slud.
Additional Projects
Racing lo School was pleased to partner with Jockey Club Racecourses lo deliver the inaugural 'Feslival
Monday, event, a special behind-the-scenes experience engaging 75 Primary school pupils from five I￿al
schools and 20 College students. The day aimed lo connect the local community with Chellenham racecourse
and lo foster a positive relationship wilh the Chellenham Festival. The success of this event inspired 'Leger
Wednesday, in September, run in wllaboralion with Arena Racing Company to share the Importan￿ and
history of the St Leger race meeting lo Doncaster with 58 local Year 6 pupils. Both these events will run in 2024
to engage a new cohort of young people.
The charity manages the delivery of the Newmarket Primary School Programme- Under Starter's Orders-
which engages 13 schools across different learning opportunities al industry venues, exploring the impact and
history of the sport on the town. The programme is kindly supported by Newmarket Racecourse, Jockey Club
Eslales and Godolphin.
Tho Pony Racing Pathway Project is a collaborative five-year programme with the Pony Racing Authority,
The Pony Club, BHA'S Careers in Racing team and Racing lo School. The Programme offers a formal pathway
into the horseracing indLJStry for young people through pony racing. In 2023, ils third year of operation, Racing
to School delivered a total of 45 events134 Horse and Pony Racing Introductory Sessions and 11 Pony Club
Careers R8cedaysl and supported a further 19 events112 Taster Days and 7 Tmining Days) within this project.
Supported by the Racing Foundation, the Pathway provides an inclusive opportunity for young people to get
involved, welcoming those without any previous connection to the sport, as well as compelenl riders. The main
objective of the programme is lo develop riding skills,. however the partners agree that the exposure of all
participants to the wider industry contributes to a new lev81 of understanding for young people, which in lum
supports the sustainability of the sport.
The third year of a partnership with the Racing League team compelrf(ion involved attendance at each of the
six fixtures run al racecourses nationwide, offering riding tuition on the popular racehorse simulators. As a key
conlribulor to the third National Racehorse Week, school trips were delivered lo training yards throughout
September as part of the industry's efforts lo bring the sport closer to the public.
The charity is regularly asked lo support complementary events for partners, such as racecourse family days,
county fairs and open days lo offer a fun insight and educational experience for allendees.
The Chief Executive was invited to showcase the charity's work and ils partnership with National Racehorse
Week by the ELJropean and Mediterranean Horseracing Federation IEMHFI at their annual conference, held in
Warsaw.
Raclng Together
Racing Together is the racing industry's collective Community engagement and education inilialive, comprising a
range of activity carried out by charitsble and commercial organisations- within and outside the sport- that use
their resour￿$ to benefit others through racing.
Racing lo School look over the strategic and executive leadership of the Racing Together partnership in 2017.
with initial Ihree-year funding from the BHA. The charity s work in this area has been supported in recent years
by the HBLB on an annual Grant basis. Additional projecl-focussed funding has been secured from other
partners.

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
The Racing Together initiative is an important focal point for the sport's multifaceted interactions with ils
communities, which forms part of its social licence. Providing a unique platform for community engagement and
working as an enabler for new programmes, sit alongside ils role as a central resource to the industry in this area.
Racing Together is also the official communications hub for the British Horseracing Authority's Diversity in Racing
Steering Group.
Staffing and Sub¢ommittg9
The role of the dedicated Community Engagement Manager reports to the charity's Chief Executive and is
responsible for day-to-day aclivily, including the secretarial function of the Racing Together Subcommittee. The
delegated Subcommittee reports to the Board and is chaired by a Racing lo School Trustee and consists of a
skills-based and diverse team of industry professionals passionate about community engagement and education
activity across the sport. The Group was chaired during the year by Trustee, John Baker, as nominated by the
Board. Other Subcommillee members are Jacqui Greet (Trusteel,. Morag Gray., Tim Williams., Grant Rowley.,
Rory Palmer,. Maddy Playle,. Paul Swain, Kale Freeman, John Blake ICEOI and Lucy Gumey ICE Manager).
Deborah Hay stood down from the role in November 2023 and Georgia Dingle from GBR joined in the same
month.
Lucy Gurney started her malemity leave from December 2023 and Alex Shaw, formerfy of the Greatwood charity
was recruited lo the Community Engagement Manager as cover.
Overvlew of Raclng Together's purpose:
Measure and communicate the scale, benefits, and importance of community engagement lo
beneficiaries, and in support of racing's long-lerm sustainability
Pilot, support and develop emerging programmes across the sport
Improve and showcase best practice, utilising relationships with other sports and their relevant
experiences
Invest in key events lo support and inspire the related efforts of partners working across community
engagement
Through a delegated subcommittee, assess the value and effectiveness of Racing Together, and
collate data and evaluation to inform and support wider industry strategy.
Strategic Objectives in 2023 included a focus on raising the profile of Racing Together, strengthening its position
as the industry's hub and lead communicator of community engagement and education activity, and ils alignment
with and support of relevant aclivilies. Growing the independent website, which houses the Directory of
Community Engagement and Education Activity, and other communication channels was also a key aim. Racing
Together also seeks lo showcase similar activity delivered by international partners.
Overview of Racing Together activity in 2023:
The first Racing Together Industry Day took place in February 2023, hosted by Ascot Racecourse.
Over 120 guests, speakers and hosts both from within and outside of racing met lo discuss 'Why
community engagement is al the heart of racing's future strategy. BHA chairman Joe Saumarez Smith
gave the keynote address.
The event originated lo expand upon the successful biennial 'Maslerclass' events that were more
focused on racecourse partners.
Racing Together Community Day.. racing's national day of employee volunteering returned in May 2023,
maintaining ils growth Irajeclory, with 75 racing organisalions offering over 700 hours of lime through a
range of volunteering activity nationwide.
The second half of the Aulism-friendly racedays pilot partnership, led by Racing Together was delivered
in early 2023, although the industry steering group disbanded in the spring owing to indications that a
separate charitable entity was being considered to offer a service. Racing Together applied for a small
continuity grant from the Racing Foundation at that lime in order to allow the established structure lo

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
continue lo meet beneficiary demand and expectations from the sport, and in turn delivered an additional
13 aulism-friendly racedays and one stud visit between June and December 2023.
Racing Together continued working alongside Go Racing in Yorkshire lo support the Yorkshire Beacon
programme, which was taken forward by the nine member racecourses.
As a partner with National Racehorse Week, the charity helped lo widen the focus of its community
engagement in its third year.
As in previous years, Racing Together supported the RCA'S annual Showcase Awards event, held this
year at Ainlree in November, which highlighted and celebrated racecourse activity. The established
Racing Together Community Award was won by Ayr Racecourse for their long-standing partnership with
Ayrshire Cancer Support.
A strong partnership has been developed with the Thoroughbred Industry Employee Awards, sponsored
by Godolphin.
Racing Together has a strong partnership with the BHA'S Diversity in Racing Group and supported them
lo deliver campaigns around Pride Month, International Women's Day, and Black History Month.
The popular Racing Together Webinar series engaged a range of voices on topics across and outside of
racing relating to community engagement and education aclivily. The second series, consisting of four
episodes. look place between November 2022 and April 2023, and three episodes of the third series
were aired between October and December 2023, with a fourth episode scheduled lo lake place in Spring
2024.
Further investment in the website Iwww.racingtogelher.co.ukl and other platforms offered the growing
partnership of charities and other organisations a shop window lo raise awareness and lo evidence social
impact lo racing's customers, business partners, political leaders and the media. The dynamic news and
information hub is a resource for the sport to pool its activities, upcoming events and ambition to help
others. The Racing Together newsletter was printed in the Spring and made available in digital formal:
shorter updates are provided to a growing online subscriber base.
Racing Together works closely with a range of organisations and looks to align with relevant industry slralegies.
Key partners remain the Racecourse Association IRCAI, BHA public affairs team, Great British Racing IGBRI
and stakeholders and charities working across the sport in support of local and national communities. Beyond
the sport of horseracing, the Sport for Development Coalition, the Sport and Recreation Alliance and other large
sports bodies, such as the Premier League, EFL (English Football League) Trust are valued partners.
Future Plans
New projects and initiatives in 2024 will include..
Working alongside industry partners lo define, implement and sustain a wider CSR industry strategy on
behalf of the sport
Assessing resource with possible expansion of the delivery team and maintain appropriate training for
existing staff
Assimilating the guidance of the Teachers, Advisory Group to seek areas of improvement across the
charity's work
Working with industry partners to explore opportunities for beneficiaries to interact with retired racehorses
through a new Beacon project
Maintaining current Racing lo School participation numbers as a minimum, with a focus on growth,
through largeling new partnerships and supporting other organisations and their complementary
programmes
Developing and growing the work of the Pony Pathway stakeholder group in ils fourth year
Contributing lo the Racing Charities, Group, designed to improve the effectiveness and communication
within the sector and as a strategic ally to the wider industry
Working with the charity's Ambassador team to meet shared objectives
Maintaining the delegated Racing Together subcommittee lo build a growing support base; to target
resources lo maximise impact of a range of programmes and their beneficiaries,. and expand
communication channels lo showcase the breadth of related work and impact
Seeking new collaborations lo pilot, which meet the needs of community beneficiaries, objectives of
funders and the sport
10

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
Delivery of the second Racing Together Industy Day building on the experience and feedback of the
inaugural event and with the support of a first commercial partner
Supporting the employee volunteering for Racing Together Community Day in May
Concluding the latest webinar series and Ljsing outputs lo inform actions lo support industry needs,. and
plan future topics and new panels lo inspire discussion and action
Growing audiences across communication platforms, including the Directory of community activity
Supporting other relevant indLJStry strategies, including Diversity and Inclusion,. Horse Welfare,. the
Horseracing Industry People Board and as a partner with the BHA as il assesses how it can support the
sport's multi-faceted community engagement work
Sharing support and insight with international partners aligned to the charity's work.
Fundraising Outlook
For Racing lo School's programmes to maximise their impact for beneficiaries, the charity relies on the
collaboration, goodwill and enlhusiaslic participation of industry partners, in particular our funders.
Throughout 2023, there was a focus on seeking new funds lo diversify income sources as much as
possible. Investments were reviewed to maximise income al a lime of increasing interest rates, which
helped offset some of the operational challenges caused by rises in inflation.
A new full-lime Fundraising and Communications Executive role was added to support work in this area.
Racing to School was grateful lo receive payments from the Horserace Levy Betting Board IHBLBI again
in 2023 across its activities, with new funding now agreed to March 2025.
The Racing Foundation kindly provided conlinuily funding for some of the costs of 20 Schools, Education
Programme events for schools from inner city and disadvantaged areas.
It was very heartening lo receive an increase in donations from beneficiary schools and colleges,.
similarly, many racecourse partners, including The Jockey Club, Arena Racing Company and
independent racecourses continued both financial support alongside indispensable benefil-in-kind for the
days they hosted the charity's groups of young people.
One aclivily-based grant awarded in 2022 was not fully used and was carried forward to be used against
activity in 2023.
Other funders that supported the ¢harf£y, include Sir Peter O'sullevan Charitable Trust: the Gerald Leigh
Charitable Trust- John Pearce Racing,. The Tote,. Racing League., The Childwick Trust,. Jock and Mary
Elliot Memorial Trust.
Environmental Reporting
Effective from 1 April 2019, The Companies (Directors, Report) and Limited Liability Partnerships (Energy and
Carbon Report} Regulations 2018 introduced the requirement for annual energy and carbon reporting. There is
no mandatory requirement for the charity to comply with the environmental reporting regulations and these have
been voluntarily adopted. We have applied the financial control method. Greenhouse Gas emissions are set out
below.
2023
2022
Units
tC02e
Units
IC02e
Company cars and non company car
mileage
Flights
Total
Miles
80,942
916
21.21
79,544
20.91
Miles
0.15
81,858
21.36
79,544
20.91
Intenslty ratlo ItC02e per £000 of
income)
0.02
0.02

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
Methodology
The following methodology for converting raw data to the above have been applied consistently year on year.
Car mileage is converted using a petrol and diesel conversion fa¢lors for medium sized cars.
Air journeys are calculated in miles and converted to C02 emissions through an online calculator.
The charity considers environmental efficiency when making travel arrangements with staff frequently car sharing
to reduce mileage and C02e. There is also a maximum limit pla￿d on C02 emissions for company cars, with a
range of electric and hybrid cars included on the list offered.
Covid-19 Pandemic
The Covid-19 pandemic created a significant amount of uncertainly and disruption across the charity sector and
beyond and continues lo impact activity days often al short notice. The Trustees and Executive wish lo record
their thanks for the staffs adaptability and flexibility in addressing the changing needs and challenges of keeping
the charity progressing and in meeting the expectations of varied beneficiary groups and partners.
Flnanclal revlew
In 2023 Racing lo School made an overall operating surplus in the year of £152,565 {2022.- surplus £108,522)
which comprises a defi¢il of £48,315 (2022.. £64,860) on the General ftjnd, a surplus of £179,937 (2022..
£158,912) on the Racing lo School Education Programme, a deficit of £5,118 on Racing lo School Education
Programme virtual reality IVRI fund, and a surplus of £26,061 (2022.. £5,895) on the Racing Together community
engagement programme. With the benefit of increases in interest rates and the use offixed lemi deposits, interest
income increased to £43,203 for the year (2022.. £8,625).
During the year, Racing lo School continued lo support its charitable objectives with 8XP8ndilure in th8 year of
£722,37412022.- £754,386).
Racing to School Education Programme
The charity was fortunate to maintain the support of ils key funders in what was another challenging year. In
addition lo the invaluable support provided by HBLB by way of a grant payment of £288,50512022'. £274,994),
the Education Programme also generated fundraising income of £188,137 in the year12022.' £250,901) which
included grant funding from the Racing Foundation, Godolphin, the Peter O'sullevan Trust, John Pear￿ Racing
Ltd, Gerald Leigh Charitable Trust, Childwick Trust and the Anne Duchess of Weslminsler Fund. Ra￿cOurseS
donations and income totalled £35,550 (2022.. £30, 770) and friends of Racing lo School and other generous
individuals, schools and organisalions donated £63,241 12022.. £59,432). There was donated services income of
£83,74412022.. £77,540).
Racing Together
The HBLB provided grant income tol811ing £127,497 (2022.. £115,003) lo support the Racing Together community
engagement programme. The Racing Foundation, The Sir Peter O'sullevan Charitable Trust and some
Racecourses provided grant income lotalling £37,273 12022.. £42.4091 to support the Autism in Racing
programme. Additional donations of £7,789 (2022.. £212) were also received which included donations for
allending the Racing Together Industry Day event.
12

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
Reserves
The Charity's reserves as a131 De￿rnber 2023..
General Fund
148,160
Reslricled Funds
Racing lo School Education Programme
Racing lo School JPR virtual reality
Racing Together
1,187,256
3,457
42,705
1,381.578
Total
The General fund balance of £148,160 represents free reserves that are approximately 6 months, Racing to
School programme expenditure.
The Reslricled Racing to School Education Programme fund is the surplus of all grants and donations specifically
made for the activities of the programme and provides for future expansion and sustsinability of the programme.
Grants and donations are recognised in the accounts when they are received and where funds have been raised
for aclivily that is planned for a future year this can give rise to a surplus on the fund for use to support future
activities.
The Restricted Racing Together fund relates to surplus grant funding which will be used to further develop the
programme in future years.
The Trustees, policy with regard lo reserves is to ensure that there are sufficient reserves to cover the charity's
core annual activity costs in any period of unpredictable fluctuations in income sources so that the long-lerm
future of the charity is assured.
13

Rrtcing to School
(a Cr)Mp￿￿￿ IipNiIEd l)y guayantee)
Annual report
Regisicrcd numbcr.. 02958174
Statement of Trustees. Responsibilities
The Trustees (who are also directors of Racing to School for the purposes of company lawl 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 slalemenls for each financial year which give
a true and fair view of the stale 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 consislenuy.,
observe the methods and principles in the Charilies SORP.,
make judgments and eslimales that are reasonable and prudent-
prepare the financial statements on the going con￿rn basis unless it is inappropriate lo presume that
the charitable Company will continue in operation.,
stale 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 time the financial position of the charitable company and enable them lo 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 information to auditors
Each of the persons who are Trustees al the time 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 lo 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 reF)Ort and to establish
that the company's auditor is aware of that information.
Audltor
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 26 June 2024 and signed on their behalf by..
Michael Andrews
Chairman of the Trustees
14

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Independent Auditor's Report to the Tru$tg0$ of Racing to School Limitod
Opinion
We have audited the financial statements of Racing to School Ithe 'charitable company'l for the year ended
31 December 2023 which comprise the statement of financial activities, balance sheet and notes to the
financial stalemenls, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102. The Financial Reporting Standard applicable in
the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice).
In our opinion the financial ststements..
give a true and fair view of the slate of the charitable company s affairs as at 31 December 2023, and
of its incoming resources and application of resources, including its income and expenditure, for the
year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducled our audit in accordan￿ with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these reqLJirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going ¢on¢ern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis
of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating lo events
or conditions that, individually or collectively, may cast significant doubt on the charitable companvs ability
to continue as a going concem for a period of at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in
the relevant sections of this report.
Other Snfom)atlon
The trustees are responsible for the other information. The other information comprises the information
included in the Iruslees, annual report, other than the financial statements and our auditor's report Ihereon.
Our opinion on the financial statements does not cover the other information and, except to the exlenl
olhetwise explicitly stsled in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial stalemenls, our responsibility is lo read the other information
and, in doing so, consider whether the other information is materially inconsistent with the financial
statements or our knowledge obtsined in the audit or otherwise appears lo be materially misstsled. If we
identify such material inconsistencies or apparent material misstslemenls, we are required to determine
whether there is a material misstatement in the financial statements or a material misstatement of the other
15

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
information. If, based on the work we have performed, we conclude that there is a material misstatement
of this other information, we are required to report that fart.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees. Report for the financial year for which the financial
statements are prepared is consistent with the financial statements.
the Trustees, Report has been prepared in accordance with appIl￿ble legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained
in the course of the audit, we have not identified material misstatements in the TrLJStees' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report lo you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and retums,. or
certain disclosures of Trustees. remuneration specified by law are not made- or
we have not re￿iVed all the information and explanations we require for our audit., or
the Trustees were not entitled lo prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies. exemptions in preparing the
Trustees, Report and from the requirement lo prepare a Strategic Report.
Responsibilities of Trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees Iwho are also the
directors of the charitable company for the purposes of company lawl are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such internal
control as the Trustees determine is necessary to enable the preparation of financial statements that are
free from material misstalemenl, whether due lo fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable
company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concem basis of accounting unless the Trustees either intend to liquidate
the charitable company or to cease operations, or have no realistic alternative but lo do so.
Audltor's responslblllty for the audlt of the flnanclal statements
Our objectives are lo obtain reasonable assurance about whether the financial ststemenls as a whole are
free from material misstalemenl, whether due lo fraud or error, and lo issue an Auditor's Report that
includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an
audit conducted in accordance with ISAS IUKI will always delecl a material misslalemenl when it exists.
Misslatemenls can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the
basis of these financial slalemenls.
16

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Because of the inherent limitations of an audit, there is a risk that we will not dete¢t all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be less likely lo become aware of
instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
The specific procedures for this engagement that we designed and performed to detect material
misstatements in respect of irregularities, including fraud, were as follows..
Enquiry of management and those charged with governance around actual and potential liligalion
and claims-
Reviewing minutes of meetings of those charged with governance..
Reviewing financial slalement disclosures and testing to supporting documenlats'on lo assess
compliance with applicable laws and regulations.
Perfomiing audit work over the risk of management override of controls, including testing of
journal entries and other adjustments for appropriateness, evaluating the business rationale of
significant transactions outside the normal course of business and reviewing accounting
eslimales for bias.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms
part of our Auditorfs Report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3
of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stsle lo the
charitable company's members those matters we are required lo slate lo them in an Auditorts report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo
anyone other than the charitable company and its members, as a body, for our audit work, for this report,
or for the opinions we have formed.
Fiona Hawkins Bsc {Honsl Msc FCA
Senior Statutory ALJdilor
For and on behalf of
James Cowper Kreston Audit
Chartered Accounlanls and Slatulory Auditor
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG196AB
Date..17 !uly.2024
17

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Statement of Financial Activities (including the Income and Expenditure
Account)
for the year ended 31 De￿rnber 2023
Note
G•naral
funds
Rèstrietèd
funds
Total
2023
Total
2022
Incom8
Donations and legacies
Income frorn charitable actimties
Fundraising grants and olher
Investment income
Bank interest
8.285
417,764
426,049
389,859
405,687
405,687
464,424
6,906
36,297
43,203
8,625
Total Income
15,191
859,748
874,939
862,908
Expenditure
Expenditure on charitable activities..
Granis and educational activitie5
Cost ol generating voluntary
contributions
14,671
48,83S
658,868
673,539
48,835
696.344
58,042
Totsl expenditure
63,506
658,868
722,374
754.386
Net incotne I lexpenditurel
148.3151
200.880
152,565
108,522
Net income I lexpenditurel and net
movement in funds for the year
T(>tal funds brought forward
13
148,3151
200,880
152,565
108,522
13
196.475
1.032.538
1.229,013
1,120,491
Total funds carrfed forward
13
148,160
1,233,418
1,381,$78
1,229,013
The Company has no recognised gains and losses other than those included in the results above and
therefore no separate statement of the total recognised gains and losses has been presented.
There is no difference between the surplus for the year stated above and the historical cost equivalent.
18

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Balance sheet
at 31 December 2023
Year ended
31 December 2023
Year ended
31 De￿mber 2022
Note
Flxed assets
Tangible fixed assets
6,524
8.397
Current assets
Debtors
Cash and cash equivalents
Investments
io
72,075
175.119
1,360.700
34.270
620,496
836,506
11
Total Current Assets
1,607,894
1,491.272
Liabilities
Creditors falling due within one year
12
1232.8401
1270,6561
Net current a$5ets
1,375,054
1,220.616
Net assets
1,381.578
1,229,013
Funds
Unrestricted income funds
Restricted income funds
15
148,160
1,233,418
196,475
1,032,538
Total charlty funds
1,381,578
1,229,013
The financial statements have been prepared in accordance with the Charities SORP FRS 102.
These financial statements were approved by the board of Trustees on 26 June 2024 and signed on ils
behalf by..
Mlchael Andrews
Chairman of the Tmslees
19

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes
(forming part of the financial stat8menlsJ
Basis of accounting and statement of financial activities
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 leffeclive 1 January 20191- {Charilies SORP IFRS 10211, the Financial Reporting
Stsndard applicable in the UK and Republic of Ireland IFRS 1021, the Companies Act 2006 and
applicable charity law.
Racing to School meets the definition of a public benefit entity under FRS 102.
Going concern
The Trustees believe that the charity is well placed to manage its business risks successfully and
are confident that the charity has adequate reSoUr￿S lo continue in operational existence for the
foreseeable future. Thus they conb'nue lo adopt the going COn￿M basis of accounting in preparing
the annual financial statements.
TangiTble fixed assets
The cost of tangible fixed assets is their purchase cost, together with any incident81 costs of
8CqUlSltion.
Depreciation is calculated so as lo write off the cost of the tangible fixed assets, less their estimated
residual values, on a straight line basis over the expected useful economic lives of the assets
concemed. The rates used for this purpose are..
Computers and other equipment
10-20%
Operating leases
Costs in respect of operating leases are charged to the Statement of Financial Activities in the
period in which they are incurred.
Debtors
Trade and other debtors are recognised at the transaction amount due after any trade discount
offered. Prepayments are valued al the amount prepaid nel of any trade discounts due.
Cash
Cash at bank and cash in hand includes current account balances and cash held in instant access
and 90 day notice accounts.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from
a past event that will probably result in the transfer of funds to a third party and the amount due lo
sellle the obligation can be measured or eslimaled reliably. Creditors and provisions are normally
recognised al their settlement amount after allowing for any trade discounts due.
Investments and Investment Income
Current asset investments are long-tem) cash deposits requiring notice of 90 days or longer.
Interest is accounted for on an accruals basis.
Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments include cash investments and are initially recognised at
transaction value and subsequently measured al their settlement value.
20

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
Accounting policies Iconlinuedl
Taxation
The Trustees believe that no charge to UK corporation lax will arise in respect of the year to 31
December 2023 (2022.. £nilJ as all activities of the company during this year were of a charitable
nature. The company has charitable ststus, and a general exemption from taxation has been
granted under Section 506 of the Income and Corporation Taxes Act 1998.
Judgements in applying accounting policies and key sources of infom7ation uncertainty
In determining if leases entered into by the charity are finance or operating leases, the lease has
been assessed to determine whether the risks and rewards of ownership have been transferred lo
the lessor by the lessee on a lease by lease basis.
Pension costs
The charity does not, itself, operate a pension scheme. All employees of the charity now belong
lo the defined contribution scheme, operated by the BHA.
Allocation of overheads
A review of the overhead allocation is conducted annually to ensure it accurately reflects the level
of support costs used by each activity.
Income and Expendlture
Incoming resources are derived from industry grants and self-generaling sources and are
recognised when receivable.
Income is only deferred where the donor has spectfied that the amounts received are for use in
future accounting periods.
Services provided at zero cost lo the charity are recognised as voluntary donated income and costs
on an estimated market value basis.
Grants paid represent charitable grants paid. These are accounted for on an accruals basis.
Other direct charitable expenditure payable in the period represents costs directly related lo
furthering the objectives of the charity.
Governance and support costs comprise costs payable for the running of the charity in compliance
with conslitulional and statutory requirements for the period.
The charity is not VAT registered and irrecoverable VAT is included with the item of expense lo
which it relates.
Fund Accounting
Funds held by the charity are either-
Unrestricted general funds - these are funds that can be used in accordance with the charitsble
objectives at the discretion of the Trustees.
Restricted funds- these are funds that must be used in accordance with the conditions set by the
donor.
21

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
Trustees, emoluments
The Trustees received no emoluments and expenses of £982 were incurred for travel and staff
entertainment for 10 Trustees (2022.. £36010 9Trustees) in respect of their services lo the company
during the year. Indemnity insurance is provided for the Trustees under a policy held by the British
Horseracing Authority
Employees
The average weekly number of persons {excluding Trusleesl employed by the Racing to School
during the period was 9 (2022.- 9).
2023
2022
Staff costs (for the above peisonsl
Wages and salaries
Social security costs
Other pension costs
374,543
33,194
29,030
385,349
36,184
29,677
436.767
451,210
The number of employees who received emoluments between £90,001 and £100,000 was 1 (2022.-
l employee between £90,0018nd £fOO,000).
The key management personnel of the charity comprise Trustees and the CEO. The total employee
salary, pension and benefits in kind of the key management personnel were £103,013 (2022..
£103,090)
Analysis of income
2023
2022
Donations and lègaeiès=
HBLB
288,505
53,800
83,744
274,994
37,324
77,540
Donations
Voluntary donated income
Income from charitable actlvltl•s
Fundraising and grants
Other incoming resourtss
Investment Incom•
Bank interest
3S4,057
51,630
408,313
56,112
43,203
8,625
Total
874,939
862.908
Income includes a total of £859,748 for specific restricted artivilies (2022.. £857,010).
22

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
Analysis of costs of charitable activities and generating voluntary contributions
Actlvltles
Support
Total
Total
undertaken
Costs
2023
2022
dlrectly
Note 6
Actlvlty
Note 7
Racing to Sch￿1
education prograrnme
Racing Together
Community eng8gement
447.696
112,925
560,621
589.799
106.129
40,953
147,082
151,871
Total
553,825
153,878
707,703
741,670
Governance costs Note 8
14,671
14,671
12,716
Total
553.825
168,549
722,374
754,386
Analysis of activities undertaken directly
Racing Racing to School
Togeth8r
education
programma
General
fund
Total
2023
Total
2022
Staff costs
Printingldevelopment
Vehicle costs
Programme delivery
Costs
Other costs
Fundraising IPR
78,487
222,272
14,988
22,136
133,520
300,759
14,988
22,136
161,162
301,759
15,464
22,535
168,293
27,642
5,945
5,945
48,835
6,528
58,042
48,835
Total
106,129
398,861
48,835
SS3,825
572,621
23

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
Allocation of support costs and overheads
2023
Racing
Together
Racing to
School
Education
programme
2022
Total
Total
Staff Costs
Property costs
32,918
1,996
456
528
3,562
66.834
4,052
925
1,072
7,231
655
2,561
4fj4
4,204
471
99,752
113,949
8,640
1,340
1,185
11,628
1,073
1,839
893
4,176
749
1,381
1,600
10.793
655
3,822
464
4,204
703
Office costs
Vehide costs
Staff development
Travel
ProrMotion81 rnateri81
Database
Depreciation
1,261
232
Don8t8d $8rvic8S
24,456
24,45fj
23,577
40,953
112,925
1 S3.878
169,049
In 2023 support cost have been allocated between the charity's two activities, the Racing to School
Programme and the Racing Together communty engagement programme. Where possible costs
have been specifically attributed. whe￿ this is not possible costs have been apportioned on the
basis of 330/. (2022.. 330/.) to Racing Together and 670/. (2022.. 670/.) Racing to School which
represents an approximation based on time.
Govemance costs
Year ended
31 December
2023
Year 8nd8d
31 Decetnber
2022
Net incomingl{outyoingJ resources is ststed èfterchèrging."
Auditor's remuneiats"on'.
Statutory audit
Other lees
Legal advice and insuran
Consultancy services
Trustee expenses and meeting costs
10,560
9,600
729
2,400
982
63
2,400
653
14.671
12,716
24

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
Tangible fixed assets
Computers and
other
equipment
Total
Cost
At 1 January 2023
Additions
Disposals
29.676
1,156
29.676
1,156
At 31 December 2023
30,832
30,832
Depreciation
At 1 January 2023
Charge for the year
Disposals
21,279
3,029
21,279
3,029
At 31 December 2023
24,308
24,308
Net book value
At 310ecember 2023
6,524
6,524
At 31 December 2022
8,397
8,397
Fixed assets held during the year consist of Offi￿ furniture and equipment that are both for direct
charitable and related adminislralive purposes. The depreciation charged on these items has been
included within support costs.
10
Debtors
2023
2022
Trade debtors
Other debtors
Pr8payrn8nt5 and accrued incotn8
27,070
39.011
5.994
15,480
12,710
6,080
72.075
34.270
25

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
11
Investments
2023
2022
95 day notice aceount
120 day notice account
1 year fixed tem deposit
2 yearfixed term deposit
459,179
451,603
384.903
200,000
701,521
1,360,700
836,506
12
Creditors.. amounts falling due within one year
2023
2022
Olher creditors
Aecruals and deferred income
133,871
98,969
130.655
140,001
232.840
270,656
2023
2022
Deferred income at the start of the year
Resources deferr8d during the y8ar
Amounts released from previous pgriods
96,645
69.203
185,2261
146,681
68,805
1118,8411
80,622
96.645
Deferred income relates the income that is received for the provision of services that is released
as the activity occurs.
13
Reconciliation of movement in accumulated funds
2023
Fund
balances
brought
forward
Fund
balancè
carried
fornard
Gains
and
loss•s
Incoming Outgolng
resources r•soureas
Fund Name
General Funds
General
Restricted Funds
Racing to School Education
Programme
Education Programme VR grant
Racing Together
Transfèrs
196.475
15,191
163,5061
148,160
1,007.319
686,605 1506,6681
1,187,256
8,575
16.644
15,1181
173,143 1147,0821
3,457
42,705
1,229,013
874,939 1722,3741
1,381,578
26

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
2022
Fund
balances
brought
forward
Fund
balance
carried
forward
Galns
and
losses
Incoming Outgolng
resources ￿$0￿rGe$
Fund Name
General Funds
Gen8ral
Transfers
261,335
5,898
170,7581
196,475
Restricted Funds
Racing to School Education
Programme
Educab"ori Piogramme VR grant
Racing Together
848,407
686,996 1528,0841
1,007,319
12,248
13,6731
157,766 1151,8711
8,575
16,644
10,749
1,120.491
862,908 1754,3861
1,229,013
In addition to Racing lo School's Education Programme, the charity is responsible for Racing's
community engagement programme Racing Together. Income re￿iVed by the charity specifically
for the Racing lo School Education Programme days has been rewgnised as restricted income.
This includes grant funding from HBLB. Income received by the charity for non-specific activity has
been Irealed as general fund income.
The reslricled Education Programme fund of £1,187,256 relates lo donations given specifically to
support the on-going work of the Racing lo School programme.
The Racing Together restricted fund of £42,705 relates lo donations, self-generated income and
grant funding spectfically for community engagement programmes which are held in a reslricled
reserve to fund future activity.
The Education Programme VR fund relates to a donation provided for the provision of virtual realtty
equipment for use as part of the schools, programme.
14
Pension Scheme
The Charity does not, itself, operate a pension scheme. Employees of the Charity belong lo the
British Horseracing Authority Pension Fund {'The Scheme'} defined contribution scheme.
During the year, the Charity and employees are paying contributions to The Scheme at the rates
recommended. The charity's contributions lo The Scheme in 2023 was £29,03012022.. £29,67n.
£648 was also paid in respect of life assumnce12022.. £9341.
15
Analysi5 of net assets between funds
As at 31 De￿rnber 2023
General
Funds
2023
Restricted
Funds
2023
Total
2023
Fixed assets
Gash 8t bank and investments
Other current assets
Current liabilities
6,524
6,524
1,377,099
1,535,819
72,075
72,075
1222,2801 1232,8401
158,720
110,5601
148,160
1,233,418
1,381,578
27

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
As at 31 De￿rnber 2022
General
funds
2022
Restricted
funds
2022
Total
2022
Fixed assets
Cash at bank and investments
Other current assets
Current liabilit18S
8,397
8,397
1,250,927
1,457,002
34,270
34,270
1261,0561 (270,6561
206,075
19,6001
196,475
1,032,538
1,229.013
16
Financial commitments
At 31 December 2023 Racing to School had total commitments under non-cancellable operating
leases as follows..
2023
Motor
vehlcles
2022
Motor
Vehicles
Expiring within one year
Expiring beiween one and five years
28,425
59,668
15,355
15,998
88.093
31,353
17
Liability of members
The members of the company have undertaken to contribute a sum not exceeding £1 each to meet
the liabilities of the company in the event that it is wound up.
18
Rglatgd party transactions
The company has transacted with the following related parties, all of which are related by virtue of
one of their employees, appointments, or directors being a director of the company.
Details of sales and recharges to and administrative expenses incurred from related parties are
detailed below
Sales & Recharges to
Administrative expenses incurred
from
2023
2023
2022
2022
British Horseracing Authority
8,448
11,040
515,215
505,816
28

Racing tn.Scliaf)I
(o limited b},guUn7￿teEj
Annudl ￿N}rt
Regigiered number. 02958174
Notes (continued)
Related party transactions included in year end debtors and creditors were as follows.,
Re￿1Vable$ outstanding
2023
2022
Creditors outstanding
2023
2022
British Horseracing Authority
132,133
128,340
During the year the charity received £nil in donations from no Trustees and their families (2022.. 1
trustee £50).
19
Ultimate controlling party
Racing lo School is controlled by its Board of Trustees. Accordingly, there is no single individual
that can, or does, exert control over the charity.
29