The RviDg Centre Lt
31 March 2023
"AcIzvtIFF*
2311212023
cO￿ANIEs HOUSE
Registered Number. 05283686

Report aAd unaud¢ted fuba#oal st*¢eAnepts for the y￿r emded 31 M4r¢h 21123
Conltats
RqM)rt of the tn
Consolidated statement of fin•n¢1￿ activilies
Charity balance sheets
Charity of cash flows
Notes forniing part ofthe fuwicial stat¢m¢nts
io
ThTJttts and membtr4
George McGJxth (Chaimw)
The Honourabl¢ Peter Stsnley
Andrew Braithwait¢ (Tre￿￿er)
Ed Dunlop
R¢ver¢nd Simon Bail¢y
Nik Chapman
Simone Sear
Sharon lamb
James Beazley
Amanda Prior
(Resigned 3010812023)
(Resigned 1911012022)
(Appointed 2810312023)
(Appointed I6110￿023)
compa￿ Se¢retsry John Gilbut
*Ad registered office Fred Archer Way. N¢%￿8[ke( SuffolL CB8 8NT
Centre Manager
John Gilb¢rt
Operations Manager T*ra-tKe Oatl¢y
Ch4rity
1107833
Compthy ttumbtr
05283686
lttdepettdent examiner Lovewell Blak¢ Ll2. FRrst Floor Suit¢. FIN Fl(w Suit¢ 2 Ilillsid¢ Business Pth Bury
St FAlmun(ts tVJ2 7EA
BaAktn
Barclays Bank PK 58 High StrL Newmarkel SuffoiL CB8 8NH
Iwl advwrs
FAltnoDdson Hall Soli¢il(Th 25 Exctrr R(4 14ewnJark¢L SuffolK CB8 8AR

THE RACllYG CENlliE LTD.
Report of Ihe truslee8 for the year e•tsl 31 Marck 2923
Th¢ trustees are pleased to P￿sent their T¢FOrt together with thc unaudited financial statements of the charity and
its subsidiary for the year ended 31 March 2023 which we als) prqwol to meet the requirnnents for a directors,
report and accounts for Companies Act puryw.
The financial stat¢ments comply with the ChaTÉties Act 2011, the Companies Ad 2006, the Manorandum and
Articles of Associatioo and Accounting and R¢wting by Chariti¢s: Ststunent of Recommended Practice
appli¢abl¢ to charities preparing th¢ir accounts in a¢¢ordance with the Financial Re￿rtIng Stsnd8rd applicable in
the UK and Republic of It¢]and (FRS I02) (effective l January 20151
Sirueture. Governallct SDd M*n*gemeDt
The Racing Centre is a company limit¢d by guara￿ govern￿ by its Memorandum and Article5 of Association
dated I l November 2004. It is registered as a charity with the Cbarity Commission. knyone over the age of 18
can bewme a member of the charitsble company subje¢f TO th¢ approval of the bwstees. At 3 l March 2023 there
were ten memlKr4 exh of whom agrees to contribute £10 in the event of the charitable company winding up.
Th¢ charttable compaoy was ￿tablished to und￿e the activilies of the previously Unincor￿)T2ted charity. The
New Astley Institute (charty numixr 67087) wlth eff¢ct from l April 2005. wh¢0 the &ssets and liabilities of that
charity were trnnsferred ￿ The New Astley Club. whicb chan8ed its nam¢ to The Racing Ltd. on 19 May
2014.
Appoinlnientoftrustees
As set out in the Articks of Association the trustees are appointed by the members (of the dwitable company)
subject to the specific rules governing such ap￿]ntinu￿ at m¢dings and the notT¢¢ period5 applicable. The
directors of th¢ charitable company (the charity) are its trusts¢s fLYthe Pur￿5¢ of charity law Jnd throughout this
report ar collectiv¢ly ref¢ffed to as the trustees.
All trustees retTred gt the first Annual General Meeting. Thereafter one third of trustees retire at each Annual
Generdl Meeting. The trnstees have the power 10 app)int tru5te£s between Annual General Meetings subjert to
the retirement and po&sibl¢ reap￿In￿￿ent ofthat trustee ai the I￿xt Anntsal Genernj Meeting. There is a minimum
number ofthree trustees. and no M￿lmuM numttt. The In￿ are mindful to the need to provide a mix of skills
within their bfyjy when considuing apN)inthien
Trustee Indudion ondtr4inthg
There are no fornial induction and tr￿Stee tsaining pT￿￿¥[eS tn plxe. How¢ver. oew trustees are given copies of
appropriate background inforni￿10ti regarding the charity. its ¥tivitie4 SIn￿th. 51aff, and fman¢ial
circumstances.
All trustees are made aware of th¢ir le8al obligalions under ch￿lty and company law. Trus*es ate thxwn from
areas that have particular knowledge of the charitable company's activities. The charitable company also
The trU￿e¢S meet ￿n0d1¢allY to strategy ar￿ areas of activity for the Cetth. Day to day management is
und¢rtaken by the Centr¢ Mana8¢r in u)nsultation with the Chairn

Report of the trustee8 for the year e•ded 31 Mar¢h 2023 (Continued)
Oryallifalion (Continued)
and Othertr￿SteeS as apprnwiate. The Centre Managtt is assi#ed by a nwnber of full and parttime employtts.
Thctru&ees andthe Centremanager￿e￿￿$id¢r￿1tobcthe key management Perso￿¢1 ofth¢ Centre. All tnthes
give their time fTtely and T￿e1Ve rnuo¢ralion or ¢xwses in the year. The trustees review the pay of th¢
Centr Manag¢r periodically. and this IS iDcr¢ased ID accordance with their assessment of appropriate
remun¢ration for their duties in relation to the parti¢ularcircumstance5 of the Centre.
Detsils of those in offi(* during the year are gi￿ ott the contents page of this
The charity lths no fortDal links to other charilits but lkns re¢eiveuJnsiderable supFK)rt by way of doDatiotL8 from
Racing Welfare. the Simoo Gibson Charitabl¢ Trus( Godolphin. Childwick TrusL The EBM Clwitabl¢ Trus¢
The Racing Foundation. and other organisations. The Charity undertakes initiatives in wociation with Ra¢ing
Welfatfy The Injured J￿keyS Fun4 BTitish Racing Sdy)oL and National ASsoci￿10n of Racing Staff (NARS).
The charity a wholly owned trading subsidiary. Th¢ New Astley Cafe Limited. The company's principal
activty is the handlTng of bar activities at the Centre. The company gifts any rwfKts to the C¢ntr¢ ¢ach year by
gift ai(L subj￿1 to th¢ retartioo of profits where appropTiat¢.
ObiettÉVe3 8nd ac¢ivikne
Th¢ Charity's sthted objective& as stared in its Memorgndum and Articks of As￿71t10n are:
-To establish an organisalion forth¢ beoefit of ¢mployed in at#)ut the *ables 8nd ￿]ng andtraining
establishments in Newmthet and elsewhere by the ￿0VisI(￿ of a club and youth rzntsr and oth¢r f2ciliti¢s in the
inteTests of social Welfa￿ for recreation and a letsure till￿ 0￿upatiOn with the object of improving the condition
of life for such I￿n$ persons WI￿ by reason of their EK)vety or 5(KiaJ and economic circumstances have
need of such facilities and subject thereto for the use of such other ￿SIdents of th¢ town of Newma￿¢1 who for
like reasons have ttegd of such facililics.-
A new Mission Statement and statement of Strategic Vision wcre by the Trustees in 2022.
missi{￿ StknDent
The Mission of the Racing Centre is to improve th¢ quality of life for people working in the horserncing
industy, and in our town, by providing a range of services and wmmuntty d¢velopmenL through exercise,
Jwati0￿ and wial activittes that support ¥￿pk to reach their full Imkntial.
Str•egic Vision
"To create a community hub in the of Newmarkerfv ihe lts)rseraewg ipttlusty wider coinTrufflity,

THE RACING CENfRE LTD.
Reprt of lh¢ trusteu for the year ¢llded 31 Mxrek 21W (Co*lA￿A)
Our overa￿bIng obie¢tives:
To mJtntsin and to continu¢ the development of a Tange of support services that meet the D¢eds of people
working in the racing industy and in the wider community of Ne￿narket
To CODtinue the dev¢lopm¢nt of a supwrtiDg financial and fimdraisiDg plan
To work continually to Tai5e awarenets of the Centre 8nd the suP￿rt serlices it provides
The Racing Centre has continued to pursue its viston and mission. li hos f(￿U$￿ its attention on five key pillars
of its sttate&v.
Meding eomm¥nty nee
In the course of th¢ year. the Centre has ￿titInued to Tesw)nd to ￿)mMunity Keds. Existing facilities have showtt
an encournging increase in usage in several artas. includ¢ the RaceFit Gym which etided thc ¢alendar year
with 312 active m¢mb¢r8 V/• iKing from the racing industry.
Amongst other PTojeA in Septemkr 2021 the Centre instslled a soup kitchen in the rwtion are8 Js a new
initiative. ¢ntitl¢d 'Proie¢t Cold.. for anyone in need of a wami meal. This facility b¢cam¢ a staple for m￿Y of
t1￿ using OthersUpE￿ services inthebuildiDg. This proi¢t&monstroted thene¢d to tackle fo(Ml poverty I￿allY
and what the Centre could do io Sup[￿ those suffering under the cost•of-liviog crisis with th¢ implementation of
a b&si¢ SUp￿r¢ ac¢essibl@ and ot llo LX)St to the ￿eT.
A C4)mmunity panty was another initialive to receive fi￿￿ing and suprth. Stsrting in the aunllnn of 2022. this
provided a facility in a destgoated room within the Centre wher4 following a referral from town thk¢holder4
ben¢fici8ries would ￿ abk to arxess basic fol￿ suppli¢5 sev¢n days a week.
This initiative demotthted such a cl¢ar need that it be￿me a driving factor in the ￿lI￿a￿On (in July 2023) of
the town's fc￿baftkto the Centre. This move not only ¢nabl¢d b¢neficiari¢s to us¢a mu¢h more central artd easily
accessible sil4 but also added to the C£ntre's growing lia of services availabk uNkr one rix)f.
The imkwt of cost-of-living issues continued to grow overthe cours¢ of th¢ year. This le5￿]ted in an all.time high
f￿￿811 through the Centre. Usas thrwghout the caierrfl¥ryetr totalled over 49.(X)O.
The C¢otre will ￿ntinue to engage with aJMJ respoDd to relevant u)mmunity issues as and when they E*come
appa¥enL
Engaging withfellow oryani5*
The C¢ntr¢ maintains close Rlatw)n5hips with other communty otganisatiot4 hosling events and wups as well
as playing an activ¢ mle in communtty initiatives. This networking maintains I￿al awareness of what the Centre
has to offerand gives the charitya pivotsl role within the organisations thatSup￿)rtthe bloodsts¢k indtisty I0￿11Y
and the wider commtmity of Ne￿￿Orke1.
Newmarket Foodbank joined the C¢ntrc in August of 2023 having rnoval from a lo￿ industrial estate. This
charitsbie impact reitiforta th¢ Centse's abilty to react to a vital community n￿d.
The Voluntary Network moved it head office to the C¢ntr¢ in June 2023. th¢ Centre thereby becoming the b&8¢
for the Connecting Communitses bus tsansFK¢ as well as its Befrie4MIiDg sckem¢.
Reach Communty Projects bas also moved intr) the CeDtre with its debtadvice officer forN¢wffjark¢t b&se4J here.
Reach Community Projects also oprrate5 a TnLssell Trust F(Kdbank itt Havethill.

THE RACING CENTRE LTD.
Report of the trryjteu for tb¢ year egdtd 31 Mareh 21123 (Co￿{￿￿ed)
Re¥iew ofgovern
The Centre continue5 to maintsin fiexibility in its oixralin8 m(thL thereby ensuring that its manw¢nt staff
and processes can rewnd swiftly to ¢banging needs.
The Centre's owationsteam h&s increased its4￿t￿rtS with the introduction of strictU TeWrtin8ti)ols and systems.
This has taken the fonft of newly installd FK)int-of-sale systems. implemthation of 'CIT¢kUp'. a project
management tool. and further monitoring tools for idi stsff and customers.
A8ainM the backdrop of the COViD-19 pwthmic recovery. The Racing Centre continued to provide critical
services in the community backed by generous funding made available in the previou5 fijthncial year.
Oyerajl in¢om¢ for the wiod fell to £241.856 {2022: £283.031) largely due to 8 reduction in government 8rants
compared to the previo￿$ year.
Costs have deueased to £405J7812022." £513222) as the Centse completed wijects through the year whith
required greater spending.
Events ofthe last fewye4rs have se¥ved to increase the dKfficulties of fundrnising. The Centre isentirely dep¢ndeDt
upon the g¢n¢rosity of others io cazry out tts work and has ivn wnsidering ways of finding supwrt for its core
fi￿ding, which has b¢com¢ inu¢&8ingly difficult w meet.
Notes 15. 16 and 17 show the assets and Itabiliti&% attributable to the ch8rity's designated and restricted funds by
type. These notes largely d¢tail the tn￿ee$. plicy regarding reserves. The charity accounts include a designat
Capitsl Fund to T¢flect the value of inve5tsnents held by the charity.
At 31 M8rch 2023 the charity's designatal reserves woe £194250 (2022: £315,739)
At31 March 2023 th¢ charity's tots] restri¢led funds wcrt £557.165 {2022: £591.453).
The Gen¢ral rePres￿ts funds available for ￿ in ongoing ￿tivitIe￿ amounting to £219J37 (2022:
£240,5J 8) at tlk year ej￿. It is th¢ gen¢ral intention that tk Charity stru)uld aim to bTeakeven ye•r on year.
lftvesthW￿p￿1CY artdperforn￿ftee
Under th¢ tern￿ of the Memorandum and Articles of AssrKi•tion th¢ Charity h8s the power to invest in any way
thetrustees wish. The cbarity's fund4 which are manyd by thetrust￿ are now held exclusivety in UK coromon
illvestmejrt funds some of which a￿ primarily desigrtd for charsties. The investsnents are held for the PUTwse of
8¢nernting an income Èlow 10 SUPFKXt the ongoing work of the cftL8Tity. These are detaild in note I l of these
financial statements.
The main forni of fina￿%47 risk faced by the chaTSty is that of vol￿71ty in investment markets due to wider
economic conditions. the attttvd¢ of investors to investment TisK and ch8Dg¢s in sentiment concerning equitie5
nd within particular sectors or ￿}b sectOT5.

£ RACING CEiYfRE LTD.
Report of the trut¢¢s for Ihe pre•ded 31 March 21123 IConl•n4ed)
Fa#attclal review (Con11n￿d)
The charity manage5 these risks by oFrnting a wlicy of investing in funds, the majority of which are primarily
designed for charities. The charity also prtiicipally holds its investment wrtfolio with a view to maiotatning a
lon8¢r.t¢rni rdurn and Is such woukl exF¢t short.tffln yo￿lIty to be ov¢r tim¢.
The Desi8nated Capital Fund eXP￿ienc￿ an inveslment Joss of (£13.236) (2022: £29,048). During th¢ year.
£108.255 was transfeTred fiDm the desigoated fund reserve to the genernl fvnds bAlance (2022: £1 12,954). After
taking acuwnl of the inv¢stsnent 8ains ilx)v¢ means investments atnounte4J to £194250 (2022: £315.739) at the
year end.
The IT￿ rthinu¢ to review th¢ major risks which the ￿tte is ¢xp)s*J to on 41) ongotng i*sis and beIieve that
such reviews of the Centre's acttvities and fIna￿l81 wformanc< tog¢therwith the established systems in plac4 are
sufficient to miti8a¢ significatit risk& In Iwticularthey have consider&1 risks in the following areas:
Governance
O￿atIonS
Firtao¢iai
Environmental or ext¢Tnal factors
Con)plignce with law and Tegulation
By effectively managing the risk the TnL<¢es ensure:
Significant risks are knowm and monitTht4L ￿￿blIng them to make infornKd thisions and take timely
Th'e Centre's aiTDS att achieved mort suc¢¢ssfulty.
The most signlficant financial risks Surrou￿ investment ￿[1￿8￿¢, which is addre&￿ alxive and (mgoin8
fundrnisin& whTch is dependentup)n thesupw)rtofa small numberofcharitableand otherorganisations. The charity
continu¢sto ¢losely with the stake1￿Ide[s￿ ensure ongoing Supp￿ of its activitie4 ￿lIst acce￿ingth3t such
activities can be sustsin¢d in the future Ilwougb the use of the charity'$ r&%erve4 should that suP￿t not be
Most oth¢r risks identifi￿1 a￿ve are covernl &8 far&s is W￿l7c41 by apprwatr insurance oiver, together with the

ThE RACll¥G CE￿nIE LTD.
Rep)rt of the trustff8 for Ibe year eAded 31 M*r¢h 21ll3 (co￿1•￿￿)
The Trustee5 (who are also the direct(Trrs of the Racing Centre Ltd. for the purposes of Company Law) are
sponsible for prepwing the Trustees. Re￿rt and the financial statements in a¢￿anCe with appIl￿ble law and
United Kingdom Accounting Standards IUoit¢d Kingdryn AcceO¢d Acc(xmMg PrnctiL%).
Company law requires the T￿￿ to prepare fin8nciaJ statem￿ for each financial year which give a and
fair view of th¢ thte of affairs of the ¢h8ritabk ￿MpanY and of the incoming resources and application of
resouw*4 including the incA)me and eX￿￿ndi1￿rt of the charity for th•t ￿1(￿1. In pycparing thos¢ financial
ststement4 the TTUStees are rquired to:
s¢le¢t suitable accounting p)licies and then appty them consistently.
obseThe the methcAts and pri￿7p1t5 ID the Clwitics SORP"
mak¢ judgements and estimates that are reasonknle aDd pruden¢
state whether appliable UK ACC￿￿tIllg Standards have iwi follow¢4 subi¢ct to any material
prepare the financial ststements onthe going wncern b&sis wiless it is lilappr￿ to presume that the
)mpaoy will continue in business.
Th¢ trwt¢es are resFwible keepins woper acc4xmting rffords that di￿10se with rea5008ble aLYurxy at any
tim¢ th¢ financial position of the charitable company and enable them to ensure that the fmancial ststements
comply with the Companies Act 2006. They are also reS￿nsIble for safeguarding the assets of the ¢haritable
CoMp￿Y and hence for tsking reasonable • for the prevention and dete¢tiffl of fi3ud and other iTregulariti¢s.
This report has been pr¢par&l in wrdantt with the provisions applicabk to compani¢s entitl¢d to the small
companies. exemption.
On behalf of the trustees
Georye McGrAth

ludependeDt examiner's report to th¢ Trustees of The Rxthg CeDtre Ltd.
Respon*￿￿[lO*S *Rd basls of report
A5 the trusteu of thecothpatsylandalso itsdirteiors forthc ￿tsf c*mpwlaw) youare respoJLStbEe forthe preparntiom
A¢t and *e ch.￿￿1¢ foT eXan￿￿tiOn J rewi ID rewi of my ¢xamination of your charity's aceowits & wiled
otst under ￿tOll 145 of the Clwitits Ad 2011 {'th* 2011 Act.). ID carryi￿ my exami￿ I hav¢ followed tke
D￿t￿tio￿￿e￿bY the &Yity cc4mlli￿ seckn 145 {5Xb) ofthe2011 A
18depetht￿O￿1￿1i￿ thes not involve gathering all the eviden￿that would b¢requir•l in an audit and ￿ll¢￿tlY
anaudit8oes ￿yond the liwited assufanctthat ao i0dep￿tht examijjation m)vide. Consequendy. l express Do opinio
llldepentht ¢x•miiitr'5 St•teme*t
Sinc¢ th¢ ￿￿5011d812d gfOSS iAQ)oK exceeded £250,(￿ yourexlmitttr be ajnernbu of a body listed in section 145 of
th¢ 2011 ACL I ¢4)nfi￿ tho1 l am uthdenkn the examill￿ betsuse l menthtr of the Certif￿d Pu￿1C
I hav¢ ￿￿ted my ¢xathiI￿IO￿. l that no Dwtttial tD¥tters have to my at*ntiOD in ¢onDeetion with th¢
the finattcial statements havenot bcen in ¥¢ordwKe with the and priticiples of th¢ Sthtement of
Si8n¢tr.
Fts
Ntrof applicable li*e4 bod
ON BEHALF OF

ThE RACING CENlliE LTD.
2022
Totsl
fi￿dS
F••ds
Fupds
tbarity
Notej
Income from:
I)ona¢ion5
84.983
16.800
101,783
123,683
Charithble activilie3.-
Operdtion of C¢ntre
129,343
129,343
109.713
38.942
Investhients
10.730
10.730
10.693
Totsi theome
225.056
16.81)0 241,856
283,031
Expenditure oa:
Cl47rUable activilies."
0￿￿￿tIOn of Centre
354289
51.089
405J78
513222
354.289
51,089
405J78
513222
Net gains l (losses) on itiv*n¢nts
(13236)
(13.236)
29.048
Net intome l (exp¢Ddi¢•r¢)
(142,469)
(34289) {176.758) (201.143)
Trnoyfeys between
Net movernent in fDAds
(141469)
(34289) (176.758) (201.143)
Reconciliofwn off¥n
Totsl fimds brwght forward
556258
591,453 1.147.710 I.348.854
Total hDds ¢arrkd forward
413.787
557.165
970,952 1,147,710

THE RACING CENTRE LTD.
iJnaMdited ¢barity bal*ice sheet at 31 M*r¢h 21123
Regi￿eThI Number. 05283686
Charity
2023
Charity
2022
Note
Fixtd Awets
Tangibk assets
Inv¢sknents
io
725.720
194.250
755.530
315.739
919,970
1,071271
Current *gsets
Debtors
Cash at bank and in hand
12
21255
45.477
9.819
78.697
67,732
88.516
Cr￿110￿. amounts falknng due
itbiD ome yar
13
{16,750)
(12.077)
Net current a%qets
50.982
76,439
Total Det awts
15
970,952
,147.710
The fuDds of ihe ehaiity
UnrLftridedl4nds
Generdl fund
Designat￿ funds
Restridedfunds
16
219,537
194.250
557.165
240.518
315.739
591.453
17
Totsl f•Dds
970.952
1,147,710
For the year ended 31 Mar¢h 2023 the tharitsble company was entitled to the exemption frpm audit under section 477
of the Cotnpanies Act 2006 relating to small companies. No members have required the charrtable company to obtain
audit of its accounts for th¢ year in question in with section 476 of the c￿panieS Act 2006. However,
in acLordance with section 145 of the Charities Act2011 the ￿A)Unts have t*en examined by an independent eXa￿{ner
whose report appears on page 7. Th¢ Tr￿te¢S tLknowledge th¢ir res￿nSIbIlity for complying with the wuir¢ments of
These financial statements have be￿ wep0￿a in *¢ordance withthe provisions applicable to companies subie¢tto the
small Companies, regime.
George
Chgirma
The notrs on pages li to 25 f(Ym part of theseunw￿ faw￿)￿1 Staten￿ts.

iJuudited stat¢•eftt of ¢barity ¢*sk fiows at 31 March 20LI
Charity
2023
Charity
2022
Net mov¢mert iti fuvJ$
(176.758)
QOl,143)
Depreciation charges
(Gainsylosses on investments
Investment income
On¢reaseydecr¢ase in d¢iknrs
In¢reas¢I{d¢￿¢a5¢) in cffditors
29.810
13236
(10.730)
{12,436)
4,673
29.178
(29.iM8)
(10.693)
92.557
,175
Net cayh provided by l (w5ed im) oper*liDz actiwilies
{152205)
{117,974)
Cg8h Ilows from inve81ing *¢livitsts:
Investment income
Jnterest re¢eivabk
Purchase of fixed assets
Cash receipts from the sale of invesknmt wsperties
10.730
10.689
(3,871)
112,953
108255
Cash provided byl(used IA) invesdog J¢livith
118.985
119.775
Incr￿Se (Deerease) ltt aod eash equivalents I
the year
(33,220)
1,801
Cash and equivalents at the IyinAi•% of the
year
78.697
76.896
Tot21 rnsb and cash eqwivaluts a¢ th¢ end of tbe yujr
45.477
78.697
An*1￿lS of and cgsk eqaiv*leBts
Cash in hand
45.477
78,697
io

THE RACING CEPmiE LTD.
Notes forming part of the umodited fioancial statemeAts for the y¢Ar ¢nd¢d 31 Martb 21123
The principal ac¢ounting p)licies are set out below.
fd) Bafis ofpreparthion
The unaudit¢d financial $tht￿ents (￿￿￿t$) have be¢ft PTeF41&1 under the historical cost Convention and
in accordanc£ with Accounting and ReiM)rting by Ch3ritie5". Statement of Recommended Practice applicable
lo ¢harities pre￿rIng their accounts in accIKda￿C with the Financial Reporting Standard applicabl¢ the
UK and Republic of Ireland (FRS102){effective l January 2015)-(Charttie5 SORP (FRS102)). the Financial
Reporting Standard applicable in the UK and Republic of IT¢land (FRS 102). the Chartties Act 2011, the
Companies Act2006. and UK G¢n¢raily Awt¢d Acq)untiog Prartic¢ as it applies from l January 2015.
The Raring Centre Ltd. is a private wmpany limiled by guara￿ and a charity domicikd and regi￿ered in
England (Company numTrxr 05283686. Registe￿1 Charity nwnb¢r 1107833). which constitutes a Public
Benefit entity as defined by FRS102. The adthss of its regiSte￿d offic* is Fra Ar￿￿ Way. N¢wmark¢L
Suffolk. CB8 8Nr.
Assets and liabilities are initiallyrecognised *teAX%t￿tix￿$artth value unle5sIAhrnise stated in therekvant
ounting ¢M)licy n(rtes.
The financial statements ate prepartd in Sterli￿ which is the fimctiODal currwKy of the charity. Monetary
amounts in th¢s¢ fiftancial sta*ments are round￿ to the nearest £.
(b) Goingconcern
The trus£¢e5 beli¢ve the goin8 wJKern basis of prepwing these financial 5tateJDents is approprfftate. The
trnstees f¢el that the charity has sufficient fimds to meet its liabilities &8 they fau due for at least 12 months
from the date of approving these a¢£ourtts.
(c) GroupfjnfflKial st(#ements
The Charity i8 exempt by virtu¢ of stttioo 139(2) (exceptions to requimtient to prepare group accouots) of
the Charities Act 2011 from the requirement to pr¢par¢ group fina￿181 ststements. These fiJ5ancial statements
present iThforniation about the cbarity as an itidividual Und¢r$a￿ and not abo￿ its 8roup.
(d) JpwnK recognilion
All Income is recognised once the charity h&s entitlement to the itKome. it is probAble that the income will
receiva and th¢ m4)netary value can be measured with sufficient reliability.
Donations are recognised when the charity bas t*ert notif￿0 of b)th the a]nount and settlement date. and it
is probable that they will be receive4L Income is defffreAI only Wh￿ the charity has to fulfil wnditions before
becommg entitleAI to IL
Jncome from operation of the Centre is included when receivable and th¢ amowit c4n be me&8ured reliably
by the chanty.
Commercial Irading inc4JnK represents saks to outside cUS￿eTS less valued added tsx. This income is
reLx)8nis&l as go(MJs and services provided to customu&

THE RACING CEIYniE LTD.
Note8 forniing pArt of the •n%￿lte4] fio*Dwl statsmtAts for the year e•ded 31 Mareh 2022 (Contsnued)
Aecollnii•g pobci¢8 {Crtirt
(d) I￿orne recognition (co￿1n￿ed)
Dividends are rwniseAI once the in￿e has be¢n declared and notific*ion h&s been re￿Ived of the
dividend receivabk from the inveslment Iwvides.
Tnterest on fiumls held oll ￿k￿Sit ts included wben ￿1vab￿ and the amou￿ C4tt be measured Teliabty. this
is nornMlly up)n notification of the inlere5t payable ￿ paid by the bank.
Liabilities are recogni5￿1 expeDditsre as s(M)n as the￿ is a levi or constructive obligation committing the
charity to the expenditure, il is probable that settlement will be r¢quited and the amount of th¢ obligation Can
be m¢&qured reliably.
All expendituff is accounted for ￿ an &cnthls b&si& All ex￿￿eS Inc￿dIng SUPPOrt costs and governance
costs are allLKat¢d or apportioned kn the applicable ex]￿d[tuR headings. For more infonnation on this
attribution referto note (fj below.
The majoTity of costs are directty atiriixrtable to sFcific acttvities. Crflain shared ￿$ts are apportioned to
activities in fillthe￿ of the objects of the charity and thos¢ of th¢ tradins subsidiary. Office ¢05ts and
proFtty related costs a￿ apportioned on the prop)rtion of fl(x)r area ￿CUpIed by th¢ activity.
Costs of raising funds those costs incurred on comm¢rcial tradtng activities which raise fvnd5.
Clwitsble activities iticlud¢expenditU￿1wKIaIed ￿ththe01%¥8l7o￿ oftheCentre4nd provislon of facilities
and adivities. It includes both the direct ¢05ts and 5UPPOrt costs relating to these activities.
verabl¢ VAT is charged agaitist the expenditi￿c he4ling for which it was incUr￿d.
Allcwion ofs4ywKi undg0verno￿e costs
Support co*s include central functions aftd have been ￿located to Centre activities and governanLX Costs on
a basis consistent with th¢ use of th¢ ra￿￿¢¢4 &aff wsts by their time, a])d other costs by usage.
Governanc£ costs comprise all wsts involving the ￿bliC accountability of the charity and its Compliance
with regulation and gocrtl practi￿. Th¢se costs include costs Telated to statstory audiL and l¢g81 and
prof¢&gional fees togets with an apwrtiODffjent of overhead and suiwt cos
Support costs including governance cO￿S have i*en alloL*eA to ¢haritsbl¢ acltvities as anatysed in note 6.
(W Taywio
The incom¢ and 8ains of th¢ charity ￿e ex¢mpt from Ixir￿)[￿lOn tsx to the extent that they are applied to its
12

THE RACThG cEl￿lE LTD.
Notes forming p*rt of the Una￿lted financid staternents for the ye¥r eDded 31 Maytb 2023 fcohtinued)
l A¢eou*tiDg poli¢ies (Continued)
) TangiblefLredofseL¥ onddeprecittsion
Depreciation is calculated ￿ all tangibk assets *raks calculated to wrile off the WSL less ¢stIma￿l residyal
value of each asset over its eXp￿d usefvl life as follows."
Long leasehold land and buildings
Fixtyres and equipment
Computer Equipmfflt
99 years (terni of lease)
21Y/o Per knnum on a straight-line basis
25% Per ArtntUD on a straight-line basis
Individual costing £SIXI crf morc are capilali5ed at cosL
(i) Firedovet In￿lments
The charity's investment in its wholly owned trading subsidiary is stated gt cost. All other f￿ed asset
investments are a fom) of basic fllwKiaJ instrurneni and are initially recognis¢d at theirtransaction value and
subsequently measured at their fair valu¢ as * the balan¢¢ sh￿t dats using the closing quoted mthet prtc¢.
The statement of fiJwKial activities in¢lud¢s the o¢t gains and losses arising on Tevaluation and disposals
thr(wghout the year.
&) Rea1LTedg￿￿S t7ndlLwes
All gains and losses ore tsken to the Statemert of Financial Activities as th¢y arise. Realised gains Ind losses
on investments are caku13ted as the difference t*tween saks th¢ir opening carrying value rf
acquird subsequent to the fitst day of the fina￿la1 y¢ar.
Unrealised gai05 and losses are calculated as the difference between the fatr vatue at the year end and their
carrying value. Realised and unrealised inv¢stDi¢nt gaitLS and losses are combined in the Statement of
Financtal Adivities.
Stocks are valued at the lower of cost and estim￿ selling pric¢ kss wsts to sell. Cost is based on the ￿5t
of purchase on a first io fwst out basi&
) Debtsrs
Trade and other debtors are recO￿lSed gnd the settlement due after discount offered. Prepoyin¢nts we
valu¢d at th¢ amount net of any discounts du¢.
(m) Cofh at bank
Cash * bknk io¢lyd¢s c45h and slK*t terni highty liquid iovestments v4ith a short matiwity ofthree months or
less from the date of acquisitioo or op￿]ng of the deposit or sioiilar x¢ounL
13

Notes fonnlng p4rt of the unaudited sl*temeDts for the yw etsded 31 MaT¢h 2023 (Contthmed)
(n) Creditors orprovisions
Creditors and provisi(M)s are reco8nised Whe￿ the charity has a weseDt obligation resulting from a PLSt event
thal will probabty I¢￿h in the transfer of funds to 8 third party and th¢ amount du¢ to settle th¢ obligotion
can be measured or e5tirnated Teliabty. CrediloTS and Provisions are nozmalty rer4)gni5ed ￿ their settlement
amount after allowll￿ for lftde discounts d￿.
(o) F￿(In¢la/ imlnone
The ¢lbarity only ha8 financiAJ awts and fjnancial liabiliti¢5 of a kind that qualify as basi¢ financial
instnmicnts. B8si¢ financial inslnrnents are initdty recogllised at transaction volue and subsequentty
measured * their s¢ttlem¢DI Wal￿.
p) aceouniing
Funds beld by the ¢harity ￿e.
U•WeStr￿ted ge￿ralfvmts - these are which ran be US￿ in a¢o)rdance with the charitable
objerts at the disuetion of the trustee
Designthedfvids-theseare fuods srfgsid¢ by th¢In￿t￿S out of unrestricted general fi￿￿5 for sp¢cific
Restriciedfvndf- th¢se are funds cteated when grants or d(wtions a￿ made available for a partiGular
Furth¢r explaTMtion of the nature and putpos¢s of ¢ach fund is included in the notes to the accowits.
Transfers betw¢en fUl￿S reprts¢nt the ¢harity'S uet addition to or disFwl of fixed assets and inve5tment4
whAch are ultimately held in the Charitsble Fixed Assets Fund and Capital Fund" and Gift Aid donations
receiv¢d from the a0nd￿table trading subsidiary.
(q) Pe￿10￿¥
For def￿￿1 rA)ntribution schemes the amount charg&1 to unrtstricted funds in th¢ Statement of Financial
A¢tivities 15 the contributions payable in the year. Differences between contributions payable in the year and
14

THE RACING CENTrE LTD.
Notes fomiug part of the UDaudited ststememts for the yw ended 31 Marck 21b23 (CoAiknued)
2 Critit•l a¢¢owitiy eslim¥tr8 areAS of judgeowit
Ac￿unting estimates and judgements are continually evaluat￿ and are b￿d on historical experi¢n¢x and
other factor& including expe¢tstions of fuDue evmts that are believed to be retsonable under the
The charity ￿￿keS estimat&s and a&8umMions cotmxrng the futUTC. The r¢sulting ac¢ounting estimates alld
assumptions will, by definition. seldom equal th¢ related actual results. There are no estimates and
sumptions that have a $i￿1ficant risk of causing a material adjustment to the canying amounts of ass¢ts
and liabilities withio the next fin￿￿18] year.
Critical areal ofi*me
The trusts do n(* ￿nSider theye kn be any critical areas of J￿￿¢￿1 that have a signifKant effect on the
amounts T￿Ognised in the financial statemen1&
3 IW $tstas of the charity
Th¢ charity is a company limiteAI by guar4ntce and has w share captthl. The liabilty of each member in the
event of winding up is limiled to £10.
4 from ckniifable *ctMties
The income w&s primarily derived from the operdtion of tho Ceotre
2023
2022
Keep fit courses
3,967
7J02
47.437
4280
4.242
2,458
36,647
4,775
2,019
10,900
46,135
38.942
1537
Hall hire
Racefrt
Event Ticket sales
NARS in¢ome
Gym Membership
Government Grants
Misc sales
10.900
43.626
11.823
129.343
148,655
S Income from investments
2022
Interest receivable- deposits
DIVId￿dS Tffeivabk fr(Mn ComnKm Jnveslm¢nt FUJMIS
10.730
10,689
10.730
10,693

THE RACING cEiwlliE LTD.
Notes formlng of the uBxudittd fim•cl￿ stgte•e•ts lor th¢ ye4r ended 31 M*ttb 2023 (Conlinued)
6 E¥peoditure OD cknri¢*lth a¢¢ivilies
Basis of
AIIoc4ti00
CeDttT Govern￿¢¢
A¢¢ivitie8
2023
Tolal
2022
Total
Advertising & maFketing
Inde￿IdeOt examination &
ccountan¢y fe¢s
Direct Costs
Siaff Training
Bank fees
Cleaning & fffuse
Consultin8
Cost of goods sold
DePr￿latiOn expense
Deprecialion expense. restricted
Direct wages
3572
3.572
20,975
8.026
14.640
374
703
2,861
8,959
25.000
1.909
11,424
17,754
6.702
13.095
1,324
8,910
2.694
8.631
78
3.866
2.069
14,166
5,907
226
714
241
20,975
3290
1255
3.450
I 1.737
1255
3.450
11.737
Direct
Direcl
Direct
7.274
10.214
19.596
15,928
10.666
386
7.274
10.214
19.596
15.928
10,666
386
3.996
(524)
9,791
Entertainment
Equspment expense
Dirert
Direct
Direct
(524)
9.791
InsuTan¢e
Interest Paid
IT solhiare aNJ ¢onsDmabks
Lic¢nses
LighL power. heatin8
Pensions costs
Postag¢. freight & ¢ouri¢r
Printing & siation¢ry
Professional ftts
Racefit I Sports costs
Rates & water
Rent
Repairs & maintManr£
Salartes
SkylBTTV
Staff ¢xpens¢s
Stsff welfare
Subscriptions
Telephone & inteTnet
V¢nding machine costs
Direct
DireL
Direct
Direct
Direct
3.917
180
35,416
5,074
179
451
718
3.917
180
35.416
5.074
179
451
718
Direct
DiTect
Direct
Dir¢¢t
Staff time
Di
4229
4229
1.958
468
10,386
165,325
9,557
186.160
9.557
201.160
15,000
193
375
2.986
11.903
2.770
193
375
2.986
11.903
2,770
17
2,008
4,906
14,079
1830
l5Q837
135
Direct
Dirert
Usage
Direct
Direct
Grants Paid
369.4(M
35.975
405.378
513.222
Costs are allo￿ted as aknve. The charity is ¢ngaged in one activity only x) the provision of Centre facilities and
associated activities bave no subdivision of iwoDd a iYe4kik)wn of overall C(￿ of Centre activities.
16

Notrs ft•nni•g wt of the nn*udited fi￿ne1￿ statewemts for the ye*r eaded 31 Mareh 2023 (Coffjinxed)
7 Employllkenl cffits
2023
2022
Wages and salaries
Social security costs
Other Ftnsion costs
201.160
10,666
5.074
165,325
13,095
5,907
216.900
184J27
2023
2022
The average monthly I￿ad count of all ¢mployw excluding trustee&
26
21
No employee eamed more than £60.(N)O during the yex (2022: no onployee).
8 Trustees, rem4neY8tio• *Dd expethses
During the year no trustee received any reimbursement of expenses or remuneraiion or received payment
for profrssional services supplied to the charity (2022: £Nil).
9 Movements in totsl fund$ for the year
2023
2022
This is staed after chargwg:
Depreciation
Accountaftt's remuneration for inderKJthnt examinalion
Accountant's remuner*irn for other financial servi￿5
29.810
2.025
4550
29.179
1.800
12.840
17

THE RACING CE1￿ LTD.
Notrs formiAg part ofthe •ll￿￿*t¢d ststemeats for the year ended 31 Marth 21123 {Contknued)
10 TaDgible gssets
land god and
Pla•t & Computer
equipmeqt M¥biuery EqDipment
Charlty
Cosl
At l April 2022
Additions
Disp)sals
924,438
329,634
11,575
1,857 1267,505
At 31 March 2023
329fj34
IlJ75
1*57 1367W5
At l April 2022
Provided forthe year
Disp)saJs
203.895
12.967
304237
14.063
3.434
2JlS
409
511,974
29,810
At 31 March 2023
216362
318J
5.749
872
541.785
Net btyok val
At 31 M•r¢k 2023
707J76
liJ34
s￿26
725,720
Ai 31 March 2022
720,543
25.397
8.141
1,449
755,530
IJ Investments
2023
2022
Market valve
At l April 2022
Disposals
Net investment gainTJ{lo&f¢s)
315,739 399.644
(108.255)
12,954
(13,236)
29,048
At 31 Martb 2023
194248
315.739
Cost at 31 Mareh 2023
31,146
Net Unrealis￿ 8ain4{loss¢s) included in net
inveslment gaIn￿(k)s$¢s) tn year
{13.236)
29.048
The charity's investsnents include aft additional £2 in TesF£t of its holding of two £1 olllinary shares at cost
in its wholty 0￿ed tradin8 subsidiary The New Asil¢y Cafe Limited.
All inv¢stm¢nts we carried at their fair val￿. Investm¢Dts in equities a￿ all traded in quoted publi¢ markets.
primarily the London Stock Exchange. The basis for fair Val￿ for quoted inv¢stm¢nts is equivalent to market
value, using the bid wice. A&sd sales a&1 purchases aTr ree4)gnised * the dat¢ of ljwle at co# {tbat is their
market value).
18

ThE RACING CE￿ LTD.
F4otes f•ming part of the uAa•dited finan¢i41 ststsments for the yetr e•de4131 Mar¢b 2023 (CoWinxeA)
11 Investmeots (Con¢iAMedJ
The significan¢e of financial instruments on thc ongoing financial sustainabtlity of the charity is considered
in the financial rEview and Inv￿ent ￿11¢Y and ￿rfonnaDrK se£tions of the tr￿ste¢S. annual r¢porL
The main risk to the charity from financial instrumettts lies in a combination of uncertain markets and
volatility of equity income. The ¢huity manages thes¢ risks by op¢r8ting a FM)licy of inVe￿ing in common
investsnent fimds principlly designed for clwities which are quoted (m rrfognised stock exchanges.
Consequently there is a low risk to liquidity. The charity also principa]ly hold5 its investment portfolio with
a view to maintsining a longer term return and as such would exI￿rt short tern) volatility will be Corrected in
the longer terny.
12 Debtors
ChAiity
Charity
2022
9.649
163,388
(150,837)
55
9,650
150.837
(150.837)
169
Amount due from subsidiary company
Inter-company Provision
Oth¢r debtors
22,255
9.819
13 Creditors: wounts falling doe withi* one yetr
Charity
2023
Charity
2022
Trade credito
Other laxes and ￿la1 U)5ts
A¢cr￿al$ and deferred income
Other Crditors
J.538
5.728
2,025
7,459
2,073
5,537
1,800
2.667
16.750
12,077
19

otes fonJiJg part of the statemats for Ihe year eDded 31 Mar¢h 2023 (Continued)
14 Ikferred
Charity
21ll3
Charity
2022
Balan(x as at l April 2022
Amount deferred in year
Balance as at 31 Mar¢b 2023
15 ADalyth tsf net amts belweeR fu￿9
Charity F4llds- rurremt year
Total
Charity
Fullds
2023
Funds
Funds
I76,808
194,250
41730
548.9l3
725.720
194250
50,982
tnvesthtents
Net cuncnt assds
.252
413,787
557.165
970,952
Charity Funds- prior year
Totsl
Ch8rity
FMDdJ
Funds
2022
Tangible a%q¢ts
Investsnents
Net cU￿t assets
188,012
315.741
52.504
567.518
755,530
315.741
76.439
23,935
556,257
591.453 1.147,710

THE RACtNG CENfRE LTD.
Notes formillg part of the unaudited statemeots for the year eaded 31 March 2023 (Conlinuedj
16 Unrestricted
C*rretst year
GeAer*l De8igaat¢d
Fund
FuDd
Total
2023
Balanc¢ at l Awil 2022
Net income/(ex￿ndl1urC}
Net investment gain
TranSf￿S
240.518
(129233)
315,739
55A257
(129233)
(J3236)
(13.236)
(108.255)
108.255
B*l*Dce at 31 March 2023
219.537
194,250
413.787
PTioryear
General IksigDYdled
FuDd
FuDd
Totsl
2022
Balanc¢ at l April 2021
Net in¢omel(¢xpenditure)
Net investment gain
Tjansfers
326.707
(199.143)
399.644
726J5J
(l99,143)
29,048
29.048
(112.954)
111954
BalaD¢e at 31 Matth 2022
240.518
315,739
556.257
The Charitable Fixed Asset Fund represented tangible assets beld for the charity's charitsble use, with the
c￿eptIon of those funded by restricted fimds detail¢d in oots 17. The expenditure in the period is the
depreciation of those assets. 71K transfer to the Fund repTesents the net disposal proceeds of fixed assets in
the year. Within the peri￿ it bas be¢JJ merged with the general for simplification.
Th¢ Capitsl rqments funds kld a% investsnerts as desi8naled by the truste&s. The objectiv¢ of the
trust¢¢s is to estsblish a Capital Fun¢ the itK4xne fn)m which will enable the charity to provide continued
support to its mernb¢rs.
21

THE RACING CENfRE LTD.
Notrs fornii•g part of th¢ uaaudited fioavial statements for the yeAr e•ded 31 MArtk 21J23 {C•thia4ed)
17 Re8tri¢ttd
Curre•t year
l April
2022
31 Mgr¢h
2023
146291
405.087
16.140
1.278
11.689
6.246
383
15,000
1.000
,072
5,023
850
6.000
1,148
145.013
393.398
9.894
607
Building Project Fund
fvfoll¢r Tn)st Fund
Sports England Fund
Youth Engagement PTojwA
T¢en Chill
Swrts Day 2021
Staff Salary Subsidy Fund
Yellow Brick Road
Community Supp)rt Grants 2￿
Project Cold
New En8laod S￿d Racefit
15.1M)
1.072
5.023
850
9,4(Kl
1.4
8252
To¢al restricted
591.453
16.800
51,089
557.165
Prior year
Expendikn
Balance
31 Mgreh
2022
l Apiil
2021
BarRefurbishment Fund
Building PToje¢t Fund
Grow Together Fund
Moller Trust Fuod
P¢t¢r O'sulkvan Suite Fund
SFrt)rts England Fund
Youth Engagemetst Prtii￿t
Digital Training Fund
Teen Chill
Swtts I>dy 2021
Staff Salary Subsidy Fund
Yellow Brick Road
Community Helpline Fund
148250
411.454
(1.959)
(6.367)
(2,(H)O)
(6246)
{1,040)
(383)
146,291
405,087
22586
1.040
1373
15,(
20.000
16,140
990
15.(K)O
{20,000)
1,000
,072
5.023
850
1.7fJ)
30.(KK)
(628)
(24,977)
(5,150)
{278)
278
Total reslriet¢d fu•ds
622.503
37.978
(69.028)
591,453

fonDiDg P*rt of the una￿1•ed fio*nei￿ sla¢e•e•ts for the year ¢•ded 31 Mar¢h 2023 {CoAlinued)
17 ReJtTi¢ted tsnd$ (CoArfn4ed)
The Racing Centre Refi￿biSh￿e￿t Fund (foTm#ty the bar TefuTbishment fimd) represents fijnds received for
the purpose of the refiubislllnent of the CentsE'$ Lader Bar. These fimds were used to wver the bulk of th¢
refurbishment costy which have been ￿ted to the value of Long twebold IAnd and Buildings. Th¢
expenditur¢ r¢pregettts the d¢pre¢iation of these refurbishments over the remaining Irf¢ of the Iw¢.
The Building Proj¢ct Fund repteseDts funds rtczived for the purp)se of builditig improv¢mellts and new
¢quipmenL Costs to date have be¢n added trj the value of Long Ltasehold Land and Buildings and
EquipmenL The WKoditU￿ rew¢sents thc (kwrtiation of these costs ove¥ thetr resFctiv¢ lives. .
Th¢ Moller Tn& fund rewescots fi￿d5 re£¢ived for the p]rp)se of renovating the Moll¢r Suits. Exp¢oditi
Teen Chill and Youth Engag¢m¢nt Project r¢presents fimd5 provided by the H8Tris Family Fun￿ Police And
Crime Commissioner and Grouodwork UK for op*rational c4)Sts Telation events geared towards te¢n4g¢rs
the I(￿ community and supp)rt of mentsl wellbein
SI￿ England fvnd repr&Thts funds ￿l￿1ved for the renewal of ¢quiIKn¢DL
The Yellow Brick R(Md fund represthts funding y￿e1¥ed to host activiti¢s alon8 the Yellow Brick Road
lin¢ar a footyath and community ofchard connecting Newmarket's northern suburbs with the centre of
Newmarket.
Community Sup[K￿t Grants represents pnts given to indiviththls suffertng fr(m) th¢ COSt￿f_1jYln8 crisis in
Newmarkrt and swrounding villages.
Pmj¢ct Cold represents funds received for the PT0ViSi￿ of a soup kit¢hw acce￿ to a warni Sp￿ and the
facilities to shower and for leisuTe Pur￿￿. fiMMI was set up to help thos¢ sufferjng financ￿1 Iwdship
wiihin the community.
The New ￿g￿alld Stud Racefit fimd ry*esents funds T￿e1ved for the purclw¢ of ￿lditional gyin equipmenL
23

foming part off tbe trD*udited fiunoial $tstemeBts for the year ended 31 March 21123 (Continwd)
Th¢ Racing C¢ntr¢ Ltd invoices th¢ N¢wAstky BarLimit¢(L a wholly owned trdding subsidiary for services.
The related to labLW £38.973 (2022: £91.668) and £6,945 (2022: £6,548) for rther seryices.
At 31 March 21)23 th¢ n¢t amount owed to The Ra¢ingC¢ntre Ltd. was £150.837 (2022: £150.837). Durin8
the y¢arended 31 March 2023. the trustees sought to Tevivw the indebteAlness of the inter-entity position with
the subsidiary and noted that whilst the Charity was commtlled to the subsidi•tys activities as a whole and
an integral p¥rt to the ov¢r811 ¢ffectiveness of th¢ Charity's operntiODS. it would be pnthnt to provide for
the debt over the short tern]. The ocressary tr￿s￿¢t10n$ are ￿neCted in these accounts.
No gift aid donations currentty due to the fjnancial performance of the subsidiary.
During the The Racing Centre Ltd contracted with a ￿mpanY under ￿)mmOn control with the Centre
Manager. John GilberL for cI¢8nin8 servic¢& CommeTcial Cleaners LTD. During the period this amounted to
charges of £1,139 (2022. £1.935). Th¢ traD$¥￿ were uodeth at Startd￿ market rates.
During the p¢riod. The Racing Centre Ltd did not contract with SG Fitness. a ¢lose link of Centre Manager
John Gilbert PTevii)usty providing suEKontra¢ted wr sessions to customers of The Racin8 Centre Ltd. This
amounted to £NAI (2022: £465). The transactions were undertak¢n * Sland￿ mat*etrdtes.
During the year, The Racing Centre Ltd provided office 4>*e and utilities to th¢ Natio1￿1 AssociatiOT] of
Racing Siaff(NARS)which totslled £21.565 (2022: £17.680). NARS is under common control of The Racing
19 Financi￿ instrnmemts
The ca￿]ng value of the charity's financial IJLSIn￿cnts at 31 Ma￿h 2￿23 we￿.
Charity
. 2023
2Q22
Financial wets:
tkbt irtstruments MeaSu￿d at
amortised cost
Equity instrumems measured at COA kss impairn)ent
knstruments Meas￿ ￿ fa]rva￿e
through the SOFA
194,248
319.892
194.250
319.894
Financial liabilities=
easurtd at amorti*l Cost
17.118
12,077
24

THE RACING CENfRE LTD.
Note8 forming part of the ouamdited statemeots ffor the year e•d¢d 31 March 2023 (co￿KA￿ed)
20 COmp￿ativ* ststemenl of financi￿ aetith by f*ttd for tke year ended 31 Marek 2022
U#restri¢ted Restricted
Funds
F#nds
Toial
ebarity
2021
Total
fi￿dS
Donations
85.705
37.978
123.683
421.om
Chan'lable activilies..
Operation of Centre
Governmeni Grnnts
109.713
38.942
109.713
38.942
36.135
41268
Investments
10.693
10,693
12262
Total illcom¢
245.053
37.978
283.031
510.709
EI￿nd1*￿Te OD:
Chariiable aciiviftes..
Op¢ration of Centr¢
444.194
69,028
513222
330.911
Totsl expendikn
293J57
69.028
513222
330.911
Net gains l (losses) on investments
29,048
29.048
58.40S
Ylet ineomt l (eI￿ndi￿re)
(J70.093)
(31.050) (201.143)
238,203
Tr*Dsfers belween f•tsds
Net move*tnl in funds
(170.093)
(31,050) (201,143)
238203
Reconcili4twn offundf
726JS1
622￿ IJ48J54 1,110,651
Totsl fyllds ¢•rried fOrw￿d
556258
591,453
1,147.710 1,348,854
25

THE RACING CENTRE LTD.
The pages whith follow do Dol
form p¥t of the statsrtory
financi•l stateM￿ts of the charity
26

In¢ome and ¢I￿di1¥ye account for the year ￿ded 31 M*rcb 2023
Turno¥er
Govcrnment Grnffits
lThterest Income
Invcsltncnt income
38,942
10.730
10.689
1537
77206
37.978
&500
74.929
J6A
JQ034
Othu ReYenu¢- R¢stricted Don8iODS
Other ReVen￿- Pledge
Sol￿- BT
Sates. Gym M¢TnlKr51llp
Sa]es. Hall Hir
Sales. Office Rentsl
e5. Pvsona] TTriniDg
Sal¢s. R¥¢fit
$￿e$- Room HiTe
SaJc5-Ticket Sak5
Totsl TyYDover
43.626
47.437
10,(
3.967
4fi135
36.647
iO.OfX
4242
4775
2.458
2.019
283Wi
7,302
Z41856
Cost•f SAles
Com ofCrf￿ Sotd
Direct CosL8- Hardthip Ftmd
rea EX￿Se$
DiT￿t Wag¢5
Tol•1 Cwt•fS
7.275
I.909
14
360
702
15,928
W92
215J61
274016
AdffiiDktratlve Costs
Advthsir¢ & Matk¢tin8
Audit & Accouolw fers
Bank Fee5
Cltanithg & Rcfvse
Consultin8
20975
3.450
11.737
14,640
1861
8.959
25.1)(
J 1.424
17.754
13.095
10214
19.5%
10.666
Depr¢¢iation E¥p¢nse.
Employers NatKTrnal Insurantt
EDl¢rt8lnll￿l. 1116
Ent¢rtwnmert.i(xe4 bu5ityess
Equipm¢ni ExpMse
8.910
2.693
135
8.631
78
3.866
241
(524)
Grnnts p9id
In￿ra￿t$
Inttrett Paid
tr Softwarc aEtd c￿￿Umable5
Le8At EKpens¢s
Licens¢s
Ligh( Power. He*iLB
P¢n5ion5 Cl￿$
Posthg< Freight
PrintinB& Statiottry
Professional fees
k￿ritI Sports co*
Ra￿ & wat
Rent
RqKirs & MaintyJaoc¢
Salarie5
9.791
3,917
35.4J6
5,074
179
451
528
14.166
s,￿7
226
714
4329
1,958
9.557
201.1
iOJ86
165.325
SkyJBTTV
193
1253
375
l7
703
Sthff TTaini#g
Staff w¢lfate
SUb￿Aptio1Lq
Teltphonc& knt¢rnet
TJivel- National
Trip5 levcnts
V¢ndiThg MathirK¢o
14,079
1770
2,830
27

Totsl AdmlAiqtr4liweC•Jts
S•rplu$l (d¢fwit) for th¢ ye•r
(i&w)
(79J35)
Oth¢rlD¢om¢
N¢t Inv¢5trn¢ni gain IOx&s)
Totsl Other l•¢wmt
<132361
{133
29JM8
Other E¥pthditsr*:
tntcr-¢onJpany LO￿ Pmis
Totalotkn ExpMdliKre
15Q837
ISOW7
(201,143)
28