Q haril). regislrali()n niimbcr.. 11 $7S.$4 Racehorse Relief Aniiiial RL'port and Financial Sialcmcnls for Ihe Ycar I'"nded .1 I t)eLrniher ?D?4
Racchor.$e Relief C'ontents RL'li'ren¢c Adininislrativc l)L'tai1s I'rusl¢L.s' Re)rt 2 1(?.I %lalenicnl ol'"frnsle¢s' Responsibilities IndepLndc1711--Xill?)inLr's RerK)ri Sialciiiciil nf i- ilicincial ALlivilies Baldnce Shl'ei Noles lo the Fin£?llLial %iatcinL'nl 810 14
RacchoThe Relief Reference and Administratii'e Dctail.$ c.hief F.xeciitive C)Ifietr Mr% .ID Mcis%ey Trullecq mrs.lo MassLv C'haritv Rt%islratifjn Numbcr 11 $75.54 niltpcndcnt F.iaminer Bickerqidl-l-& Co C'liartcrLd Accountaiil Q'c)riiwaS1 I'R27 4Q/.
Racehorsc Relief
Trustccs, Repnrt
Tlie IrLI.%ILCS prescnl ilic aiiiiiiit I reporl tnbicilier .1117 iIKk liiiancial slaleniciil.s of Ihc cli(Irii)' fi)I' Ilic year Liided 31
r)eceinher 2n?4.
()bjectives and artivities
C)hjLPL'I.i oiill
l.lir Il)e .ncril nl. IliL puhliL. In reliL'I'L tlie sullcrii)gv of raLL'horscs thal arc IiCgTILcled and iinwanled rf1nd in
Pdil iciiliif li) rehahili11c le. rclrniii and. i¥liL'fL (2PPI'(Ipfi41lc. rcliome sitLli aniin
Racchorse Relief
'rruslce$' Rep()rt
Stru¢lurc. governance and mana%cmcnl
Nuliiri. ci[RciveriiinR iliii'iimi'nl
'I'lic L-harily 18 a Cliaril¥)hle Inciirp()ralcd ()la111&711lIn {C"IOI giovemed aL¢ordingt ID Ilie C"aiislilulinn dated 15111
rLhruciri' 2014.
'I'he Mcinhers of the C"Ill are individiiicls. corpnr4ilc h()dics. ()r represciiliilives {)f nrg)14 111%2( linn8 Ihcil drL iinl
incorpiiraled. w1i17 LillLlcrti?kc Ic) acl ii) g7ond faiili li) liirtlier I1 piirpi?sc.s i)r Ihc C'l()."lThc al-14iirs ()r Ilic Cll ) ali
mclllclgJc(I h%, IIIL. L'I)c?r1l Tnistees. There musl bc al le*isI IhrLL ancl nol niore Ihan IwelvL. "l-rii%lL'cN. Thc Mciiihers
()r '] rLisl¥c% niil!. 1¢ ppoinl nciv Triislci'% ill iini lime provided Ihai new Truslcc's appninled bl, I'riislcc4 Inii%l rL.lirc
l
Racchorse Relief Stalcment nf Tru.slces' Respi>nsihilitic Thi, Iflislees respnn.8ible fnr prcFMrinb the inJ%lees' rep()ri and Ihc finanLial %lalciiicnl.s in aLC(Irdaiice will) Ilie linilcd K Ingdi)ni ALi(iiinliiig %i£lndard4 (I Iniled Kin&di?In Iw¢ncrallv ALILpled ALC()Linling Pr2LI ILL.) li1d -rhL lill¥. 1ippfic1c blL li) Ihiirilies rcciiiiies Il)c In151LL% In prepcirc fiiiaiKial 4l¢ilciiienl% r(Ir eacli f1111& TIL ial yciir which IIILI l¢iir view of the qliilL' ()[ ¢ifi-"Iiirs nl- IliL Lliaril). lid lif Ihe iiiii?Iniiib? ri%oiii'cc% aiid appliLc?li()11 1)r rc8()Lirces 1)t' Ilie Lhcirilv flir Ihal period. In prepiiringt Ihesc financiiil s11( lenienls. Ihc truslces 47fL fL'Liiiircil Ici.. %elcLI £iiil?c hle %lCC(TrLiiiling' poliLie4 and ilien applN' Iheii7 coii%isteiiily- cTrb%Lrvc IIiL niL'lliod.s lind principles in Ihc C"liarilie% SORI). Inake.jiidgTemenl% lid e%litTialL% Ih¢il are rca4()nahlc and pnidLnl' 111 IL wIIL'ilier Applicable <lCCOtintin¥ slandclrds liav¢ hcen followc(l. siihjecl lo aiiv nialcrial dcpartures disclosed and cyplained in Ihe financiit I slalcmenls: and prep?c re thi. finiincial slateinL'llis on ihe g(TringF conL¢rn hasi4 iinless il 1% inappropriale In presume Ihdl Ihe charilv will L(Trnliniie in biisiness. Tli¢' Irii4le¢'s 1¢ fL rcspiin5iblc l(Ir keepiiig pmpcr aLL(iiinling7 recor(l% Ilial di5clo8e witli rea.4onahle aLiUTacy al any liiiii IliL liiiaiiciÉ?I p(?%i(in17 1)r Ilie Lliaritl. i?nd Lnililc tllciii in cii%iirc 1111¢ I IIiL finaiiLial %laleiiiLlli% Loini)ly willi Ilic L'hiiril ILS ALI ?() I l. Ilic appliLahlc C-liarilie% l Acci)11111s Rcpi)M.s1 RLgiLilatilTrll.5. 11 lid ilie pr(?vision4 ol- Ilie Liiii%liliili()n, -I'l)L" trii%iecs are 71%() rLSPtiI)4ibli l(?r safcgTiiarding Ilic 11%scls i)l- Ilie eh.Irili' aiid l)CliLe l()1' 141kiii rL'q¢ siTrnHhlc slcps lor Ilic prevLiilic)ii and clLYectinii ()( Irdll(I lind i)Iher 1cli41arilIc. lo .gigiiicd ()n ils behalf hv.. Mr P(Iiil M*Yrfy I riisiLL L'liiel- l-.xeLiilive I IrricL'f ciiid Tnislec Pagpc 4
Racchnr¥e Relief
Indcpendent F.xaminer's Report to thc trusteei of RaL'chnr.sL' Rclief
I rLi71)rt 11> Ihc cli.Irilv ini.stces (>ii m>. examin¢ltii)ii (kf ihc aiL()unts nf IliL Llii( ril!, r(Ir Ihc year ei7de(I I I IX'LcinbL'r
2014 wliiLh tire sel Dill on C) lo 14.
Re%pcclive responNihililit% of trus1e5 and ei*mbner
A% IhL' Lh
Racchor.se Rclief 4•tatcment ()f Financial Actii'ities fnr the Year Fndcd 31 Deccmbcr 2Q24 Tolal 2n24 Total 2n23 Nole Incomf and F.ndnwments frnm: 2()? 798 43.819 141.057 (?.()77 TiTrl#l inL(Ime .3a6.()17 22X.014 F.xpenditurn on: C"l)di'it1¥ blL .(150.7(?4) (IRI.2()0) l ()Ici1 expenditure .(150.7Cyl) (181.2()11). Nel In(Iveinenl in flinds 1 55.853 4().774 Rccon¢iliatifjn Dffuncls Tol<il fiinds hrniig,hi fonvard 7.2.59 (.1951fj) 'rol¢11 fLind% Llc rricd l()rward 13 l().l.I l? 7.2$ All i?i-Ilie ihiiril!1'5 11 clivitiL% derive froni i(Iiitiiiiiiiiyi (?peral ion% duringT ilie iivo periods. I'lie liind% bi'eakcl(?iYii for 21124 1% %linwn in nnle l_3.
Racehor4e Relief
(Rc%i%tratiiin numher: I1.57S.$4)
Ilalanci, .Siheet a.s at .11 Deccmhcr 2024
2024
21123
Note
Fixed assel
321 ?66
Current a.1$
l)chii)
C'¢isli al bank
Rai'ehorse Relicf ote$ to the Financial Statement% for the Year Endcd .11 Dccemher 2024 l Acciiunting pnlicies ¢italemeTrl of rDmpltranee 'I'hc fili iiicial .slaleiiiLnls havL. heen prewdrcd in 1iLLnrdl¢ nce wilh Accounlingi and Reporting hy Charilies-. SlalLinei11 ()[ ReLnllinieii(lid Pr7 CIIL rfrpIiLl<1)le In cliiirilics prc'pdriiigv IhL"ir acloiiiits iii aLL(?rdaiice ii'iili IIiL i111( nCl&il RLP()rliiig, Sidiiddird iippliL1hlL' in the I IK 41nd Repiil)IiL (Trf IrelLl1)d IfRS 11121 IclTeclivL l .laniiclry 20151 IC'h1c rilie.s %( IRP I l.-R% I n?11. Ihe l. inai)Llt11 Rep()rtiii¥ .%iaiidard c1pplicahle iii Ilic I IK aiid Republii Ill. Irclaiid I I-'RS 10?) and Ilic C'l11irilic% Act ?0 I l. Basig Trf prep#rTri tion RaLL'hurse Relicl- Incefs the dcfiniiinii c?fa piihliL heiiL'fit enlil!. linder l.-RS 102. A.ssel8 aiid liabililies arc inilially recogbiii5ed al hi%li)riLal co%1 nr Ini).k'iLlion value iinless niherH'ise slated in the relcvanl aLLounlinL policy nnles. Fxemption frTrn7 preparing a c4sh flom. stalemeni 'I'lie Lharily iTrpled lo e&lrl%' adnpl 13iillcliii I piihl i%hcd on 2 1--ebruary 21116 and have Iherelnre not included a cash Ili)M' slalL'ineiil in Ilic4e fiiianLiiil slale117Lnl%. (Doin2 cnoccrn 'I'lii Iiw%lLL% L(In4idLr that therc arc no millcrial uiTrcertaiiilies aFK)ul Ilie Lharily'.s abili15' to c()nliniic as a gioin LonLerii. Voliiiilcirv inLI)Ine inclliding di)nalions. gift.s. ILg7acics and gyrnnlq Ihal prDvidc core fLiiidinLy or drc i)l- i? gicncnl n¢llLire i.s reL(?g1nid when the cli£irilk hcis enlillemenl Ic) Ihc inLome. il 1.4 pr<)b2c ble Ih1rt 1 Il)e inLc?iiic ii'ill he reLeived and the iimoiiiil Laii be Ine1¢ %iired w'ill) %iiificienl relidbilily. DipnulicJn.i iiiiilleA{ic'ie.s l)Oniilini)s Jiiil ILLY1& LIL% are rcci)gini.se(l (?11 Il recLival)Ic hasis wlici) reccipl is prol)able ancl Ilic iimouni can he rcliahls, n)easLired. Dcinnleil.iervic'e.i anilfnc'ililie.f Where serviLCS nr fi?cililie.s arc provided In Ihe charilN' a5 a donalion ihal wauld normiillv be piirchiised frnm ()Iir Lipplier%. Iliis henetll is incliided in Ihe fin¢inLial slatcmenl_% al il's fair value Linlc.58 il's fair Iiie V¥llll)ol bc rL'liablv Imeasiired. then al the L051 l() Ihe di)nnr nr the rcsale valuL' of good8 ihal are bc si)Id. Fipendilure All expLlI(lilLirc i.s recoginised ()nce there if Il le¥?al Dr coiislniLlivc ()hlig£ilion In tlial c¥peiidil1sre. il is priibahlc seiileinLni i.s rcqiiired anil Ihc 1n?iTriii?I CÉ?ii hc IilL¢l.siired rLliahlv_ All i()slf 41re illoL.ItL.d in the iippliiabl¢ LXPL'iidilLire heciiliiig, Ilial <ig'¥iregid• IL. %imilar Losls io thai calcg70ry. Where Lc)%ls Lannol be direLIIy ¢illribiilLd lo P?( niiiil<ir he1( dilig% tl?LTr l?avc heen alli)Ciiled (In a b&lS1S Liin%i%ienl will) Ilic 118e of resourccs. willi Leiilr(11 .51¢lrr ci)$1.5 Ic11(IL4?lecl ()11 IhL. .415 (Il- time .spcnl. aiicl dcprL*iali4)n charbjes allocated on the pnrticin (If Ihe asscl's Ll.se. i)Ihcr SLlPPI)rt c().%ls arc ii IIc)¢¢11ecl h¢i%ed on ilic 8prea(I i)l-Sicirrcn41s. Pagic 8
Racehorse Rclicf Niite.s to the Financial f¥latemcnt.s fTrr the Year Ended .11 December 2024 Chiiriicihle ui'iivilie.I C'h¢iril&ihlc expendiliirc compri%cs Ilii).%c Li?sls ine11e hv Ilic Lhirili. in the deliwerv ol- ils acliviiic% c?iid 4erviLL' l()I' ils beiieliLiaries. li inL liidc.5 hDilI Lo.s1.s Ihal LJli he 4711oLaled dirccil J. Ic? SULII (ILlivilie.s aiid Ili()se Lnslg ol- 1111 iiidirecl iialiire iieLess¢l11' Ill SLlPPOrt Ihcni. GovcrnAncc cn.sl¥ -I-IIL%L' 11)LltidL' thl LllSt4 tillrihiilahle lo the Lli<11'ilN' s Li)iiipli1c nci. il'iili ci)nsliltilii)nal aiid slaliil()ry reqiiiremeiil%. inLILidiiigi [Iclil. .slrcilcg7lC nlcliia¥FcniLiil and IriislcL.s S Illl1111¥J.s arid reiiiibi1rd expi'nses. (Join2 C'nneern Ai IliL enLI (Il. IhL' ycar. the ehrt1ril}' s nL*I assets were in a deficil }sItIO1). 'fhere is a Inan ()wingy lo Ilie InislL'L lield i¥iiliiii Ir)IlLi Icn?I It114111C.. Tlic -fni.%tcc4 hai'l yTiveii assiiric lice Iliai Iliey will nnl .4eck repdltrl)lellt fil- Ilic loan Iinlil tlie Lliarily is in P(i%ilii)ii wlierL" tliev liavc rcbiiili ilic reSere. Taxalion Tlie Lhrfirily i.s considered i(1 pass the ie%l8 sel Diit in Parngiraph I SLhcdEile 6 of the l--iiiance ALI 2(TrIO tiiid Iliereli?re il Inecls the dcfinilion Df a cliarii?¢ hlL Loimpan lor IIK c()ry)i)rnlioii purpn%c%. ALLordiiig'lv. IhL' Ll)<2rily is p()leiililc11 . LXLmpi Ir()11i 11¢ .IHlion iii rLSPCCt nf incoii)L' or capilal giilin.s reL'cived CI)VLrLd hy (.'liclPlir _I ljilrt I l ()I' Ihe C-orpnnli()ii -1 di ALI I{1 111 ()r Seclii)n ?5() ()1" Ilic I.. <1111{1 ()r ('hiifgiLahle (Yilili.% ALI I (192. 11) Ilie eylenl Il)'Il SilLII iliLnlllL' ()I' gyain.s <lfe 4lpplied LiLlii.%ivcli' 117 clidrilahlc PLirpo%e.%. Tan2ihle fixed assels Iiidivicliial li.xL(l ssels ci)slinb' £o.nn nr ni(Irc i?re iiiiliallv rec()rded ai ci)%l. le$8 any siib%cqLieiil accLiiiiiilalcd dcprix iati(Trn din(l %iihscqiienl <iLciimiilalcd imp¢iinneni 10%ses. I)LPI'Cllcili()ii is priividcd nii Idii¥)ible fiicd lo ii.rile iiff the ci)51 iTrr valualioii. less iiny L51iniic lcd rL'sidLliil Vciliic. ()VL'r Ilieir L'Kricclecl ii.seliil CLI)111?111 IL lifc li% li)Ili?i¥s.' Trailc (Iclitnrs I'cidi (lehi() are Inoiinls due from Lll.slomer.q for merchandisc s(Jld or serviLes perlonncd in Ihc (yrdinAry C()Lir%e ot. hLlSinc%5. -1 rii dc dLbiors are reLog7nise(l inilii111!' ii I Ihe lrnnsaclinn price. They arc sub%eqiicnil!' mca%iired cil IllOrtISLd Lost IISIIIL Ili< elTLLlive iniere81 nieiliod. less priivisinn lor i1171)ain7ienl. A provi%iiiii l()r Iht. iiiipairmcnl of Ii'i?dL' (IL.l)li)rN 14 Ls11c hli%lied wlien Iherc is (IhjeLlivc ¢videnie Ilial Ihe Lharilv I41ill not bc ablc tn c()Ilccl lill ainoiinls (Iiic ¢lCC()I'(liiigv lii IIIL (?I'igbiniil tenn.5 cil- Ihl rLLeii'al)IL%. Cash and ca.sh equivalenl.s C"c?%h lind ca.sh eqLiivalenl% coiijprise La8h on hand and call dcp()%il%. and niher shnrt-lerni hig'hlv liquid iiivc8liiicnl% Ihi?l are re<idily convemiblc l() known ilrnC)Iiiil nf ca.sh aiid are siibjecl l() in%igJniliL .Inl risk of
Racchorse Rclief Nntes t(1 the Financial S>tatemcnts fnr the Year F.nded .11 December 2024 Trade crrdilor5 arc ohlibvatii)n% li) P¢ly fnr &PCMKls (Ir scfviLL% thai h<ive been aLquired in Ihe ordii)aTV Cl)Iirse Dr hLi8ine58 fmin %uppI ILI'S. ALL()Iiiil% P(iahle arL' Llil.ssil lcd Lurrcnt liabililie% iftlie dne% nol liiivc an LlliCC)iidili()iial ribtrhi. I111)L' L'iiil (Il- IliL rL'pi)M ing peri(. tn dcfer ttI(MCl1t ofilic crcdili)r for al leasl Iwelvc ninnihs aller the reportlllL d¢lte. I (- IliLrc 1.% an tinco1iclilioiill ri&plil li) defcr k'iilciiieiii Inr al Ica.s1 livclve iiiclnihs after Ilie rep()rtiiig7 clale. IIIL'V are prc%L'iilecl niin-ciirrinl li'ihililils. iifL' reci)¥triiised inilii111N' Ihc Irdnsaclinn price and siihseqiiLnil)' nicasurL.d 111 ainnrti%ed c().%1 11singy 117L L'llcLIivL' iniere_sl iiieil)cKI. 2 Tru.slees remuneration expenses No Ii'uslLX'S. n()r rflny pcr)n8 Ll)nneclcd willi Ihein. liavc received an!, remiincnlion fr()iii Ihe cliaritv durinbl the ycar. 3 Independenl eiaminer's remuneration 2n24 2023 Oiher fees Ill examiners I-IIL. L.Xdiniiiiiig? nl'aLCI)iinl% nf aiiv dSSIK'ialc ol'thl cliarili. 4 TA.IAtio 'rhL' chiirily is a rL'¥ii%lered Lharily and is Iherclore cxcmpt fr(Trm la.xalion. Pabie l (I
Racchnrge Rclief Notes tTr thc Financial Sitatement% for thc Year b-ndcd I l Deccmher 2024 S TAngihle fixed g&$tl.s Land and huil(lin%4 Furnitu and equipment Mt)l(Jr vehicles Ai l .1¢1niitiry ?ll24 Adcliliiin.s 4_SQ 876 16.429 -f16.fy2.5 Ai _I I [)eCLnilr 2024 459.%711 I C?.429 40.32(1 516.{?2S l)eprecialiTrn Ai l Jantiary 2024 Cliilr¥c lor ihe vear 107.95? 1 ().1189 3,10 -14.74fi 1 SR.7X7 -3().572 Ai .1 I IleLcmher 21124 1.311.(11 O 16.429 40.320 195 1$9 Nei hook value AI .311)CLL'inher ?024 321 -121.21?C) AI I I l)L'LLmher ?Q13 -1$1.924 -340 3_57.8_351 6 1)ehior.% 2024 21123 -rriiile IlL.hii)r.s VA-I. giril1l1 ripciyahle PrL'Pgivnieiil.s 7.472 48 1.67(? $011 .14% 7 Credilors: 4mounl.s fallin% dye wilhin rjne ve*r 21124 2023 .1 radL' cfL'dilc)r.s 9.()15 ?2.516 I)AYI: & NIC. ( )IIILr crcdili?r.% l(i.f8(1 1.{)14 i.-Ino 4().517 % Crtditiirs: Imnunl.s fallin% due after lino vear 2024 202J ()tliir l(kin. 1.14.742 .Ins $48
Racehnr.se Relief Detaile(l %tatement of Financial ActiTritie.% for the Year Fnded .11 Deccmher 2024 Tolal 2024 Tnlal 2023 AprpLcils and 1117n?c l ii)n IliTrntitecl list ()f liiLililies 8.5.679 177.119 ?62.798 ()9.840 11)1.0.57 I'liiiriinhle uc'lii'ilief MLinhLis1Iip Rehi)ming' l.ees l.ivery Ine(Iine 1.7.10 1.340 I i.$00 24.1.17 3fy,977 41.08 4.3.819 C liarilahle a<'ljipilie.¥ r)ir¢il Ll).%ls - l-.4llL.%lriaii SiibcniilnLI lrfihiilir {47.2$7) (2.8C)8) 145 511} {8.?SQ) 1.$4.()O4) Rt"nl l.ib'hi c1nd hL, l)ropcrty rLpdirs & niainlcnanLc Iii%iiraiiLe Mi?l()r c¥pcn%e AIlvLrtisiiig 17a.296) (7.fjllnl l()()91 (2.4641 1? $5.B> 2.740} 1111)7} {1() {S.574) (3.391 (.30.6511) l)cprcLicil i()n Trl- fiNILifi's Iin(I fillin¥F5 l)eprecil¢ li()n i)l- leasel)(Ild propcrtj. Chariiahle donalii)n AcLDiiiilancv fees Indipcndeiil CX<ll)iiiicr'5 lee {S.574) (861) 130.6.$8} {189} 1512) 1 $0.7CI4 {?Iiv} 181)(I Pagie 12