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|Contents|||||||||
|---|---|---|---|---|---|---|---|---|
|Page:|||||||||
||||Report ofthe trustees||||||
||||Independent<br>examiner's<br>report||||||
||||Consolidated<br>statement offinancial||activities||||
|10|||Charity balance sheets||||||
||||Charity statement ofcash flows||||||
|12|||Notes forming<br>part ofthe financial||statements||||
|Trustees and||members|||||||
||||The Honourable<br>Peter Stanley||||||
||||George McGrath (Chairman)||||||
||||Andrew<br>Braithwaite<br>(Treasurer)||||||
||||Rebecca Dunlop (Resigned 7 July 2020)||||||
||||Ed Dunlop||||||
||||Nigel Elwes CBE(Resigned 7 July||2020)||||
||||Reverend<br>Simon Bailey||||||
||||Nik Chapman||||||
||||Simone Sear||||||
||||Sharon Lamb||||||
|Company|Secretary||John Gilbert||||||
|and registered||office|Fred Archer Way, Newmarket,|Suffolk, CB88NT|||||
|Operations|Manager||John Gilbert||||||
|Centre Manager|||John Gilbert||||||
|Charity number|||1107833||||||
|Company|number||05283686||||||
|Independent||examiner|Leigh Thurston<br>FCCA, Lovewell Blake LLP Chartered||||Accountants,||
||||First Floor Suite, 2 Hillside Business Park, Bury|||St Edmunds,||IP32 7EA|
|Bankers|||Barclays Bank Pic, 58 High Street,||Newmarket,|Suffolk,|CB8|8NH|
|Legal advisers|||Edmondson<br>Hall Solicitors, 25|Exeter Road, Newmarket,|||Suffolk, CB88AR||





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||||Unrestricted|Restricted|Total|2020|
|---|---|---|---|---|---|---|
||||Funds|Funds|charity|Total funds|
|||Notes|||||
|Income from:|||||||
|Donations|||223,266|197,778|421,044|190,873|
|C/iari/a/s/e<br>activities:|||||||
|Operation ofCentre|||36,135||36,135|136,231|
|Government<br>Grants|||41,268||41,268||
|Investments|||12,262||12,262|14,132|
|Total income|||312,931|197,778|510,709|341,236|
|Expenditure<br>on:|||||||
|C/iari/a/r/e<br>aciiviiiesr|||||||
|Operation ofCentre|||271,351|59,560|330,911|331,025|
|Total expenditure|||271,351|59,560|330,911|331,025|
|Nei gains / (losses) on investments||13|58,405||58,405|(32,714)|
|Net income<br>/ (expenditure)|||99,985|138,218|238,203|(22,503)|
|Transfers<br>between|funds||||||
|Net movement<br>in funds|||99,985|138,218|238,203|(22,503)|
|Reconciliation offunds|||||||
|Total funds brought|forward||626,366|484,285|1,110,651|1,133,154|
|Total funds carried|forward||726,351|622,503|1,348,854|1,110,651|





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||||||
|---|---|---|---|---|
|Unaudited<br>charity balance sheet at 31March 2021|||Registered<br>Nuniber:|05283686|
||||Charity|Charity|
|||Note|2021f|2020|
|Fixed assets|||||
|Tangible assets||12|780,840|662.979|
|investments||13|399,644|341.239|
|Total fixed assets|||1.180,484|1.004.218|
|Current<br>assets|||||
|Debtors||15|102,376|79,444|
|Cash at beni' and in|hand||76,896|41.499|
|Total current assets|||179.272|120,943|
|Creditors:<br>amounts|falling due||||
|within<br>one year||16|(10.902)|(14,511)|
|Net current assets|||168.370|106.433|
|Total net assets||17|1,348,854|1.110.651|
|The funds ofthe charitv|||||
|Unrestricted funds||18|||
|General fund|||326,707|285,127|
|Designated<br>funds|||399,64-1|341,239|
|Restricted funds||19|622,503|484.285|
|Total funds|||1,348,854|1.110.651|





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||||||||Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
|Net movement<br>in funds|||||||238,203|(22,503)|
|Depreciation<br>charges|||||||29,452|34,671|
|(Gains)/losses<br>on investments|||||||(58,405)|32,714|
|Investment<br>income|||||||(12,262)|(14,132)|
|(Increase)/decrease<br>in debtors|||||||(22,932)|(41,700)|
|Increase/(decrease)<br>in creditors|||||||(3,605)|(4,970)|
|Net cash provided<br>by /(used||in)|operating||activities||170,451|(15,920)|
|Cash flows from investing|activities:||||||||
|Investment<br>income|||||||12,200|14,132|
|Interest receivable|||||||62|I|
|Purchase offixed assets|||||||(147,316)|(5,621)|
|Cash provided<br>by/(used<br>in) investing||||activities|||(135,054)|8,512|
|Increase (Decrease) in cash|and||cash|equivalents||in the year|35,397|(7,407)|
|Cash and cash equivalents|at|the beginning|||ofthe|year|41,499|48,906|
|Total cash and cash equivalents|||at the end||ofthe|year|76,896|41,499|
|Analysis ofcash and cash equivalents|||||||||
|Cash in hand|||||||76,896|41,499|





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|ations|||
|---|---|---|
||2021|2020|
|Donations|421,044|190,873|
||421,044|190,873|



## 

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|income was|primarily<br>derived from the operation|ofthe Centre||
|---|---|---|---|
|||2021|2020|
|||g||
|Pool and snooker|||200|
|Keep fit courses||2,569|1,708|
|Room hire||3,917|28,996|
|Hall hire||451|26,271|
|Racefit||940|4,937|
|Event Ticket|sales||8,651|
|NARS income||10,806|10,056|
|Gym Membership||16,381|41,837|
|Personal<br>Training|||13,575|
|Misc sales||1,071||
|Government|Grants|41,268||
|||77,403|136,231|





## 

||||||2021|2020|
|---|---|---|---|---|---|---|
|Interest receivable -||deposits|||62|I|
|Dividends|receivable|from Common|Investment|Funds|12,200|14,131|
||||||12,262|14,132|





## 

|8<br>Expenditure|on charitable|on charitable|activities|||||
|---|---|---|---|---|---|---|---|
||||Basis of|Centre|Support|2021|2020|
||||Allocation|Activities|costs|Total|Total|
|Costs directly allocated to activities:||||||||
|Advertising<br>&marketing|||Direct|4,815||4,815|4,031|
|Independent<br>examination<br>accountancy<br>fees||&|Direct||15,120|15,120|24,287|
|Direct Costs|||Direct|3,131||3,131||
|StaffTraining||||1,495||1,495||
|Bank fees|||Direct|1,529||1,529|2,259|
|Cleaning &refuse|||Direct|6,579||6,579|12,842|
|Consulting|||Direct||||10,265|
|Cost ofgoods sold|||Direct|377||377|7,427|
|Depreciation<br>expense|||Direct|12,128||12,128|20,652|
|Depreciation<br>expense|- restricted||Direct|17,324||17,324|14,019|
|Direct wages|||Direct|6,904||6,904|9,386|
|Employers<br>National|Insurance||Direct|5,366||5,366|12,024|
|Entertainment|||Direct|356||356|680|
|Equipment<br>expense|||Direct|10,223||10,223|4,450|
|General expenses|||Direct|2,016||2,016|6,071|
|Insurance|||Direct|8,212||8,212|3,224|
|IT software and consumables|||Direct|3,016||3,016|1,566|
|Licenses|||Direct|155||155|672|
|Light, power, heating|||Direct|16,791||16,791|16,215|
|Non-Recoverable<br>VAT|||Direct||||185|
|Pensions costs|||Direct|4,377||4,377|3,992|
|Postage, freight &courier|||Direct|147||147|243|
|Printing &stationery|||Direct|1,561||1,561|1,858|
|Professional<br>fees|||Direct|883||883|4,845|
|Rates &water|||Direct|3,912||3,912|5,235|
|Rent|||Direct|624||624|624|
|Repairs &maintenance|||Direct|22,826||22,826|6,265|
|Salaries|||Stafftime|141,345|13,021|154,366|127,210|
|Sky / BTTV|||Direct|275||275|8,707|
|Staff training<br>welfare|||Direct|1,383||1,383|890|
|Subscriptions|||Direct|2,798||2,798|2,192|
|Telephone &internet|||Usage|13,139||13,139|13,152|
|Travel - national|||Direct|62||62|610|
|Trips / events|||Direct|370||370||
|Vending machine<br>costs|||Direct|3,766||3,766|3,400|
|Grants Paid|||Overhead|4,885||4,885||
|||||302,772|28,141|330,911|331,025|





## 

|9|Employment|costs||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||Wages and salaries|||||161,270|127,210|
||Social security|costs||||5,366|12,024|
||Other pension|costs||||4,377|3,992|
|||||||171,013|143,226|
|||||||2021|2020|
||The average monthly||head count ofall employees,|excluding|trustees,|||
||was:|||||||
||Charitable<br>activities||and governance|||16|15|



## 

|11|Movements<br>in|total funds|for the year||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||This is stated after charging:||||||
||Depreciation||||29,452|34,671|
||Accountant's|remuneration|for independent|examination|1,800|1,800|
||Accountant's|remuneration|for other financial services||11,520||





## 


|12|Tangible assets|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Long||||||
|||||leasehold||||||
|||||land and||Fixtures|Plant &|Computer|Charity|
|||||buildings||and|Machinery|Equipment|Total|
|||||||equipment||||
||Cost|||||||||
||At I April 2020|||797,913||318,406|||1,116,319|
||Additions|||126,527||10,298|I0,075|416|147,316|
||Disposals|||||||||
||At 31March|2021||924,440||328,704|10,075|416|1,263,635|
||Depreciation|||||||||
||At I April 2020|||189,208||264,135|||453,343|
||Provided<br>for|the year||7,128||21,093|1,144|87|29,452|
||Disposals|||||||||
||At 31March|2021||196,336||285,228|1,144|87|482,795|
||Net book value|||||||||
||At 31March|2021||728,104||43,476|8,931-|329|780,840|
||At 31 March|2020||608,705||54,271|||662,976|
|13|Investments|||||||||
|||||||||2021|2020|
||Market value|||||||||
||At I April 2020|||||||341,239|373,953|
||Disposals|||||||||
||Net investment|gains/(losses)||||||58,405|(32,714)|
||At 31March 2021|||||||399,644|341,239|
||Cost at31March 2021|||||||141,146|141,146|
||Net unrealised<br>gains/(losses)|||included|in net|||||
||investment<br>gains/(losses)||in|year||||58&405|(32|714)|





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|14|Debtors||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||Trade Debtors||||||6,841|10,064|
||Amount|due from subsidiary||company|||95,367|69,220|
||Other debtors||||||168|160|
||||||||102,376|79,444|
|15|Creditors: amounts<br>falling due within||||one year||||
||||||||2021|2020|
||Trade creditors||||||4,791|4,989|
||Other taxes and||social security|costs|||(370)|7,721|
||Accruals|and deferred income|||||1,800|1,800|
||Other Creditors||||||4,681||
||||||||10,902|14,510|
|16|Deferred|income|||||||
||Deferred|income|comprises income received in advance.||||||
||||||||2021|2020|
||Balance|as at 1 April 2020|||||2,235|880|
||Amount|released|to income earned from||charitable|activities|2,235|880|
||Amount|deferred|in year|||||2,235|
||Balance|as at 31|March 2021|||||2,235|





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## 

|Charity<br>Fun|ds —current year||||
|---|---|---|---|---|
|||||Total|
|||Unrestricted|Restricted|Funds|
|||Funds|Funds|2021|
|Tangible|assets|179,337|601,503|780,840|
|Investments||399,644||399,644|
|Net current assets||147,370|21,000|168,370|
|||726,351|622,503|1,348,854|
|Charity Funds —prior year||||Total|
|||Unrestricted|Restricted|Funds|
|||Funds|Funds|2020|
|Tangible|assets|178,694|484,285|662,979|
|Investments||341,239||341,239|
|Net current assets||106,434||106,434|
|||626,367|484,285|1,110,652|





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|Current|year|||Charitable|||
|---|---|---|---|---|---|---|
||||General|Fixed Assets|Designated|Total|
||||Fund|Fund|Fund|2021|
|Balance|at 1 April 2020||285,128||341,239|626,367|
|Net income/(expenditure)|||41,579|||41,579|
|Nct investment||gain|||58,405|58,405|
|Trans fers|||||||
|Balance|at 31|March 2021|326,707||399,644|726,351|
|Poor year||||Charitable|||
||||General|Fixed Assets|Designated|Total|
||||Fund|Fund|Fund|2020|
|||||8|||
|Balance|at 1 April 2019||61,604|199,280|373,953|634,837|
|Net income/(expenditure)|||24,244|||24,244|
|Net investment||gain|||(32,714)|(32,714)|
|Transfers|||199,280|(199,280)|||
|Balance|at 31|March 2020|285,128||341,239|626,367|





## 

|19<br>Restricted<br>funds|||||||
|---|---|---|---|---|---|---|
|Current year|||Balance|||Balance|
||||I April|Income|Expenditure|31March|
||||2020|||2021|
||||g||||
|Cafe Refurbishment<br>Fund|||24,444|150,006|(26,200)|148,250|
|Building Project Fund|||417,735||(6,281)|411,454|
|Grow Together Fund|||4,000||(2,000)|2,000|
|Moiler Trust Fund<br>Peter 0 Sullivan<br>Suite|Fund||24,737<br>7,512||(2,351)<br>(6,472)|22,386<br>1,040|
|Sports England<br>Fund|||5,857||(4,484)|1,373|
|Project Christmas||||5,500|(5,500)||
|Youth Engagement<br>Project||||15,000||15,000|
|Digital Training<br>Fund||||20,000||20,000|
|Hardship<br>fund||||6,272|(6,272)||
|Teen Chill||||1,000||1,000|
|Total restricted<br>funds|||484,285|197,778|(59,560)|622,503|
|Prior year|||Balance|||Balance|
||||1April|Income|Expenditure|31March|
||||2019|||2020|
|Bar Refurbishment<br>Fund|||24,907||(463)|24,444|
|Building Project Fund|||424,101||(6,366)|417,735|
|Grow Together Fund|||6,000||(2,000)|4,000|
|Moiler Trust Fund<br>Peter 0 Sullivan<br>Suite|Fund||30,982<br>8,993||(6,245)<br>(1,481)|24,737<br>7,512|
|GroundWork<br>UK Fund|||3,336||(3,336)||
|Digital Training<br>fund (Alborada||Trust)||12,500|(12,500)||
|Godolphin<br>/ Shadwell|Trust gym|refurb||3,000|(3,000)||
|fund.|||||||
|West Suffolk Council Community||chest||5,000|(5,000)||
|Sports England||||6,982|(1,125)|5,857|
|Harris Family Fund||||2,000|(2,000)||
|Total restricted<br>funds|||498,318|29,482|(43,516)|484,285|





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|Turnover|||2021|2020|
|---|---|---|---|---|
|Government<br>Grants|||41,268|I|
|Interest Income|||62|14,131|
|Investment<br>income|||12,200|8,851|
|Other Revenue|||1,065|148,842|
|Other Revenue - Donations|||213,981|29,482|
|Other Revenue - Restricted Donations|||197,778|12,549|
|Other Revenue - Trainers Pledge|||9,285|716|
|Sales - BT|||806|43,545|
|Sales - Gym Membership|||16,387|26,271|
|Sales - Hall Hire|||451|9,340|
|Sales - Office Rental|||10,000|13,575|
|Sales - Personal<br>Training|||2,569||
|Sales - Racefit|||940|4,937|
|Sales - Room Hire|||3,917|28,996|
|Total Turnover|||510,709|341,236|
|Cost ofSales|||||
|Cost ofGoods Sold|||377|7,427|
|Direct Wages|||6,904|9,386|
|Direct Costs|||3,131||
|Total Cost ofSales|||10,412|16,813|
|Gross Surplus|||500,297|324,423|
|Administrative<br>Costs|||||
|Advertising<br>&Marketing|||4,815|4,031|
|Audit &Accountancy||fees|15,120|24,287|
|Bank Fees|||1,529|2,259|
|Cleaning &Refuse|||6,579|12,842|
|Consulting||||10,265|
|Depreciation<br>Expense|||12,128|20,652|
|Depreciation<br>Expense||- Restricted|17,324|14,019|
|Employers<br>National|Insurance||5,366|12,024|
|Entertainment-100%||business|356|680|
|Equipment<br>Expense|||10,223|4,450|
|General Expenses|||2,016|6,071|
|Grants paid|||4,885||
|Insurance|||8,212|3,224|
|ITSoftware and Consumables|||3,016|1,566|
|Legal Expenses||||53|
|Licenses|||155|672|
|Light, Power, Heating|||16,791|16,215|
|Non Recoverable<br>VAT||||185|
|Pensions Costs|||4,377|3,992|
|Postage, Freight &Courier|||147|243|
|Printing &Stationery|||1,561|1,858|
|Professional<br>fees|||883|4,845|
|Rates &water|||3,912|5,235|
|Rent|||624|624|
|Repairs & Maintenance|||22,826|6,265|
|Salaries|||154,366|127,210|
|Sky / BTTV|||275|8,707|
|Staff welfare|||1,383|890|





## 

|HE RACING CEN|TRE LTD.|||
|---|---|---|---|
|Staff training||1,495||
|Subscriptions||2,798|2,182|
|Telephone &Internet||13,139|13,162|
|Travel - National||62|610|
|Trips / events||370||
|Vending<br>Machine costs||3,766|3,400|
|Total Administrative|Costs|320,499|314,212|
|Surplus<br>/ (deficit) for the year||179,798|10,211|
|Other Income||||
|Net Investment<br>gain|/ (Loss)|58,405|(32,714)|
|Total Other Income||58,405|(32,714)|
|Net movement<br>in funds||238,203|(22,503)|