## 



## 

## 

## 




## 

## 

## 



## 

## 



## 

## 




## 

## 

## 



## 

## 



## 

## 



## 

## 




## 





## 



## 

## 



## 

## 

## 

## 

## 



## 

## 

## 



## 


## 



## 

## 


## 



## 

## 



## 

## 



## 



## 

## 

## 

## 




## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 



## Claire Sutherland 

15/06/22 



## 

|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021|2021|2021|2020|
||Note|£'O0O|£'000|£'O00|£'O00|
||||||(note 18)|
|INCOME FROM:||||||
|Donationsandlegacies||30.8|240.2|271.0|852.9|
|Charitableactivities - Housingincome||839.7||839.7|779.6|
|Investments||0.1||0.1|0.1|
|TOTAL INCOME|2|870.6|240.2|1,110.8|1,632.6|
|EXPENDITUREON:||||||
|Charitableactivities|3|696.1|200.7|896.8|911.2|
|TOTAL EXPENDITURE||696.1|200.7|896.8|911.2|
|NET INCOME FOR THE YEAR||174.5|39.5|214.0|721.4|
|Transfers between funds||285.5|(285.5)|||
|NET MOVEMENTS IN FUNDS||460.0|(246.0)|214.0|721.4|
|Reconciliation offunds:||||||
|Balances broughtforward 1 January||4,219.1|7,944.3|12,163.4|11,442.0|
|Balancescarriedtorward 31 December||4,675.7|7,698.3|12,577.2|12,165.3|







|as at 31 December 2021||||
|---|---|---|---|
|||**Company number 06489067**||
||**Note**|**2021**|**2020**|
|||**£'000**|**£'000**|
|**INTANGIBLE FIXED ASSETS**|7|163.9|165.5|
|**TANGIBLE FIXED ASSETS**||||
|Housing properties|8|13,164.1|13,249.8|
|Other fixed assets|9|35.9|47.1|
|||13,363.9|13,462.4|
|**CURRENT ASSETS**||||
|Debtors|10|265.2|43.3|
|Cash at bank and in hand||732.1|642.4|
|||997.3|685.7|
|**CREDITORS:** amountsfalling duewithin oneyear|11|(291.8)|(252.0)|
|**NET CURRENT ASSETS**||705.5|433.7|
|CREDITORS: amountsfallingdue after morethan one||||
|year|12|(1,692.0)|(1,732.7)|
|**NET ASSETS**||12,377.4|12_1634|
|THEFUNDS OF THE CHARITY||||
|Unrestricted reserves||||
|Revenue reserve||218.5|(25.7)|
|Designated reserve:||||
|Fixed asset fund||4,460.6|4,244.8|
|Total unrestricted reserves|13|4,679.1|4,219.1|
|Restricted reserves||||
|Housing for racing industry staff||7,698.3|7,944.3|
|Total restricted reserves|13|7,698.3|7,944.3|
|**TOTAL FUNDS**||12_3774|12_1634|






## 

|||Note|2021|2021|2020|
|---|---|---|---|---|---|
||||£'000||£'O00|
|Cash provided by operating activities||**a)**||224.1|662.5|
|Cash flowsfrom investing activities:||||||
|Purchase of tangible fixed assets||**`8,9`**||(93.8)|(219.2)|
|Net cash used in investing activities||||(93.8)|(219.2)|
|Net cash used in financing activities||||||
|Repayment of loans||||(40.6)|(40.7)|
|Net increase/(decrease)in cash and cash equivalents||||89.7|402.6|
|Cash and cash equivalents at 1 January||||642.4|239.8|
|Cash and cash equivalents at 31 December||||732.1|642.4|
|a) Reconciliation of netincome forthe year to net cash|provided by operating activities|||||
||||2021||2020|
||||£'000||£'O00|
|Net income/(expenditure) forthe year||||214.0|721.4|
|Depreciation and amortisation||||282.0|259.6|
|(Increase) in debtors||||(221.9)|(11.5)|
|(Decrease)/Increase in creditors||||(SO.O)|(307.0)|
|Net cash inflow provided by operating activities||||224.1|**`662.5`**|
|b) Analysis of net debt||||||
||At 1||Non-||At 31|
||January|Cash|Cash||December|
||2021|flows|flows||2021|
||£'000|£'000|£'000||£'O0O|
|Bank|642.4|89.7|||732.1|
|Loans|(1,773.3)|40.6|||(1,732.7)|
||(1,130.9)|130.3|||(1,000.6)|
|Borrowings||||||
|Debt due within 1 year|(40.6)|40.6||(40.7)|(40.7)|
|Debto due after 1 year|(1,732.7)|||40.7|(1,692.0)|
||(1,773.3)|40.6|||(1,732.7)|





## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

|**2. INCOME**|||
|---|---|---|
||**2021**|**2020**|
||**£'O0O**|**£'000**|
|**Donations and legacies**|||
|**Grants received - restricted**|**240.2**|**847.9**|
|**Donations - unrestricted**|**30.8**|**5.0**|
||**271.0**|**852.9**|
|**Charitable activities**|||
|**Rent receivable net of identifiable service charges**|**788.8**|**724.4**|
|**Service charges receivable**|**50.9**|**55.2**|
||**839.7**|**779.6**|
|**Investment income**|||
|**Interest receivable**|**0.1**|**0.1**|
|**Total income**|**1,110.8**|**1,632.6**|





## 

|3.TOTAL EXPENDITURE|||||
|---|---|---|---|---|
||Activities|Support|||
||undertaken|costs|Total|Total|
||2021|2021|2021|2020|
||£'000|£'000|£'000|£'000|
|Charitable activities|||||
|Provisionofsocialhousing(note4)|833.8|63.0|896.8|911.2|
||833.8|63.0|896.8|911.2|
|Supportcosts|||||
|Overheads andadministration costs|||46.0|46.0|
|Governance|||17.0|6.8|
||||63.0|52.8|



|4.ANALYSISOF SOCIAL HOUSINGCOSTS|||
|---|---|---|
||Total|Total|
||2021|2020|
||£'000|£'000|
|Operatingcosts|||
|Managementcosts|282.6|328.2|
|Service charges|112.2|117.6|
|Maintenance of properties|126.7|119.9|
|Governance costs|17.0|6.8|
|Baddebts|3.7|5.5|
|Loan interest|72.6|74.5|
|Depreciation of housing properties|265.8|245.4|
|Depreciation offixtures and fittings|14.6|12.6|
|(Profit) ondisposaloffixedassets||(0.9)|
|Amortisation ofnomination rights|1.6|1.6|
|Expenditure on socialhousing|896.8|911.2|





## 

## 

||**Total**|**Total**|
|---|---|---|
||**2021**|**2020**|
||**£'000**|**£'000**|
|**Wages**|**118.8**|**107.6**|
|**Employer's national insurance contributions**|**11.0**|**9.3**|
|**Pension costs**|**8.5**|**7.4**|
|**Total**|**138.3**|**124.3**|



## 

## 





## 

## 

||**Assets**|**Freehold**|Leasehold|Freehold||
|---|---|---|---|---|---|
||under|land and|land and|improvements||
||development|buildings|buildings||Totals|
||£'000|£'000|£'000|**£'000**|£'000|
|Deemed cost||||||
|At 1 January 2021||12,664.2|895.0|800.9|14,360.1|
|Additions|18.9|||161.0|179.9|
|At 31 December 2021|18.9|12,664.2|895.0|961.9|14,540.0|
|Depreciation||||||
|At 1 January 2021||966.3|65.9|78.1|1,110.3|
|Charge forthe year||190.9|11.5|63.2|265.6|
|At 31 December2021||1,157.2|77.4|141.3|1,375.9|
|**Net book value**||||||
|At 31 December2021|18.9|11,507.0|817.6|820.6|13,164.1|
|At 31 December2020||11,697.9|829.1|722.8|13,249.8|
|Historiccost||||2021|2020|
|||||£'O0O|£'000|
|Gross cost||||12,696.4|12,516.5|
|Accumulated depreciation on|historical cost|||(2,609.6)|(2,392.4)|
|||||10,086.8|10,124.1|
|Housing properties, at deemed cost, comprise:||||||
|Freeholds||||13,645.0|13,465.1|
|Long leaseholds||||895.0|895.0|
|||||14,540.0|14,360.1|





## 

|9. TANGIBLE FIXED ASSETS - OTHER|||||
|---|---|---|---|---|
|||Fixtures and|Motor|Total|
||ITequipment|fittings|Vehicles||
||£'000|£'000|£'000|£'000|
|Cost|||||
|At 1 January2021||132.3||132.3|
|Additions|1.6|2.3||3.9|
|At 31 December2021|1.6|134.6||136.2|
|Depreciation|||||
|At 1 January2021||85.2||85.2|
|Charge for the year|0.2|14.9||15.1|
|At 31 December2021|0.2|100.1||100.3|
|**Net book value**|||||
|At31 December2021|1.4|34.5||35.9|
|At 31 December2020|`O.O`|47.1||47.1|
|10. DEBTORS|||||
||||2021|2020|
||||£'O00|£'000|
|Rental debtors|||30.3|30.2|
|Prepayments and accrued income|||4.4|3.1|
|Due from the Rous Charity|||26.9|2.0|
|Due from parent undertaking - Racing Welfare|||195.3||
|Otherdebtors|||8.3|8.0|
||||265.2|43.3|
|11. CREDITORS: AMOUNTS FALLING DUE|WITHIN ONE YEAR||||
||||2021|2020|
||||£'O00|£'O0O|
|Due to parent undertaking - Racing Welfare||||39.4|
|Other taxation and social security payable|||0.5|2.3|
|Trade creditors|||`57.7`|46.9|
|Accruals and deferred income|||188.8|122.0|
|Othercreditors|||4.1|0.8|
|Housing loans|||`40.7`|`40.6`|
||||291.8|252.0|





## 

## 

|12. CREDITORS: AMOUNTS FALLING DUE AFTER NORE THAN ONE YEAR|||
|---|---|---|
||2021|2020|
||£'000|£'000|
|**Housing loans**|**1,692.0**|**1,732.7**|
||**1,692.0**|**1,732.7**|
|**Analysis of Housing** loans **repayable by instalments:**|||
|**Within one year**|**40.7**|**40.6**|
|**Between one and two years**|**40.9**|**40.7**|
|**Between two and five years**|**123.5**|**123.0**|
|**After five years**|**1_5276**|**1_5690**|
||**1,732.7**|**1,773.3**|



## 

|**13. RESERVES**||||||
|---|---|---|---|---|---|
||**At 1**||||**At 31**|
||**January**|**Income in**|**Expenditure**||**December**|
||**2021**|**the year**|**in the year**|**Transfers**|**2021**|
||**£'000**|**£'000**|**£'000**|**£'000**|**£'00O**|
|**Unrestricted funds**||||||
|**Revenue Reserve**|**(25.7)**|**870.6**|**(490.3)**|**(136.1)**|**218.5**|
|Designated - Fixed **Asset** Fund|**4,244.8**||**(205.8)**|**421.6**|**4,460.6**|
|**Total unrestricted funds**|**4,219.1**|**870.6**|**(696.1)**|**285.5**|**4,679.1**|
|**Restricted funds**||||||
|Housing for Racing Industry **Staff**|**7,444.3**||**(148.9)**|**(124.5)**|**7,170.9**|
|Repairs and maintenance fund||225.2|**(36.8)**|**(161.0)**|**27.4**|
|**Middleham Development**|**500.0**||||**500.0**|
|Housing Support Officer||**15.0**|**(15.0)**|||
|**Total restricted funds**|**7,944.3**|**240.2**|**(200.7)**|**(285.5)**|**7,698.3**|
|**Total funds**|**12,163.4**|**1,110.8**|**(896.8)**||**12,377.4**|





## 

## 

|**13. RESERVES (CONT.)**||||||
|---|---|---|---|---|---|
||**At 1**||||**At 31**|
||**January**|**Income in**|**Expenditure**||**December**|
||**2020**|**the year**|**in the year**|**Transfers**|**2020**|
||**£'000**|**£'000**|**£'O00**|**£'000**|**£'000**|
|**Unrestricted funds**||||||
|**Revenue reserve**|**(308.9)**|**784.7**|**(500.4)**|**(1.1)**|**25.7)**|
|**Designated - Fixed Asset Fund**|**4,261.5**||**(201.5)**|**184.8**|**4,244.8**|
|**Total unrestricted funds**|**3,952.6**|**784.7**|**(701.9)**|**183.7**|**4,219.1**|
|**Restricted funds**||||||
|**Housing for Racing Industry Staff**|**7,465.4**|**296.8**|**(134.2)**|**(183.7)**|**7,444.3**|
|**Middleham Development**||**500.0**|||**500.0**|
|**Racing Homes Strategy Report**||**51.1**|**(51.1)**|||
|**Housing Support Officer**|**24.0**||**(24.0)**|||
|**Total restricted funds**|**7,489.4**|**847.9**|**(209.3)**|**(183.7)**|**7,944.3**|
|**Total funds**|**11,442.0**|**1,632.6**|**(911.2)**||**12,163.4**|





## 

## 

## 

## 



## 

## 

||**Restricted**|**Designated**|**General**||
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Total**|
||**£'000**|**£'000**|**£'000**|**£'000**|
|**As at 31 December 2021**|||||
|**Fixed assets**|**7,170.9**|**6,193.0**||**13,363.9**|
|**Current Assets**|**546.4**||**450.9**|**997.3**|
|**Current liabilíties**||**(40.7)**|**(251.1)**|**(291.8)**|
|**Long-term liabilities**||**(1,692.0)**||**(1,692.0)**|
||**7,717.3**|**4,460.3**|**199.8**|**12,377.4**|
|As at 31 December2020|||||
|**Fixed assets**|**7,444.3**|**6,018.1**||**13,462.4**|
|**Current Assets**|**500.0**||**185.7**|**685.7**|
|**Current liabilities**||**(40.6)**|**(211.4)**|**(252.0)**|
|**Long-term liabilities**||**(1,732.7)**||**(1,732.7)**|
||**7,944.3**|**4,244.8**|**26.7)**|**12,163.4**|



## 

|||||**`2021`**|**`2020`**|
|---|---|---|---|---|---|
|||||**`£'000`**|**`£'000`**|
|**Amounts **|**due **|**from **|**/ (to) Racing Welfare**|**195.3**|**(39.4)**|
|**Amounts **|**due **|**from **|**the Rous Charity**|**26.9**|**`2.0`**|





## 

## 

## 

## 



## 

|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2020|
||Note|£'000|£'000|£'000|
|**INCOME FROM:**|||||
|Donations and legacies||5.0|847.9|852.9|
|Charitable activities|2|779.6||779.6|
|Investments||0.1||0.1|
|**TOTAL INCOME**||784.7|847.9|1,632.6|
|**EXPENDITURE ON:**|||||
|Charitable activities|**4**|701.9|209.3|911.2|
|**TOTAL EXPENDITURE**||701.9|209.3|911.2|
|**NE T INCOME/(EXPENDITURE) FOR THE YEAR**||82.8|638.6|721.4|
|Transfers between funds (restated)||183.7|(183.7)||
|**NET MOVEMENT IN FUNDS**||266.5|454.9|721.4|
|Balances brought forward 1 January(restated)||3.952.6|7,489.4|11,442.0|
|Balances carried forward 31 December||4,219.1|7,944.3|12,163.4|