| Page | |||||
|---|---|---|---|---|---|
| Annual Report ofthe Trustees |
1-5 | ||||
| Independent Auditor's |
Report | 6-8 | |||
| Statement of Financial |
Activities | (including | Income and Expenditure | Account) | |
| Balance Sheet | |||||
| Statement of Cashflows |
|||||
| Notes to the Financial | Statements | 12 - 17 |
| Page | 2022 | 2021 | |
|---|---|---|---|
| Income from: | |||
| Investments (note 2) Donations (note 3) |
14 14 |
28,334 3,000,000 |
3,341 2,500,000 |
| Total Income | 3,028,334 | 2,503,341 | |
| Expenditure on: |
|||
| Charitable Activities (note 4) |
15 | 816,276 | 1,552,313 |
| Total Expenditure | 816,276 | 1,552,313 | |
| Net income | 2,212,058 | 951,028 | |
| Net movement in funds |
11 | 2,212,058 | 951,028 |
| Reconciliation offunds |
|||
| Total Funds Brought Forward at 1 January 2022 | 2,490,060 | 1,539,032 | |
| Total Funds Carried Forward at 31 December 2022 | 10 | 64,702,118 | E2,490,060 |
| Page | 2022 | 2021 | ||
|---|---|---|---|---|
| Fixed Assets | E | E | ||
| Tangible Assets (note 5) | 16 | 414 | 724 | |
| Current Assets | ||||
| Debtor (note 6) Cash at bank (note |
7) | 16 16 |
423 4,837,826 |
2,736 2,564,380 |
| Total Current Assets | 4,838,249 | 2,567,116 | ||
| Liabilities | ||||
| Creditors - amounts | falling due within one year (note 8) | 16 | (136,545) | (77,780) |
| Net current assets | 4,701,704 | 2,489,336 | ||
| Total net assets | 64,702,118 | L' 2,490,060 | ||
| The funds ofthe charity: | ||||
| Unrestricted funds |
10 | 4,702,118 | 2,490,060 | |
| Total charity funds | 10 | L' 4,702,118 | F2,490,060 |
| Net cash flow from Operating Activities |
Page | 2022f | 2021f | |
|---|---|---|---|---|
| Net movement on funds for the year |
9 | 2,212,058 | 951,028 | |
| Less: Investment income and deposit interest |
14 | (28,334) | (3,341) | |
| Add: Depreciation | 16 | 310 | 310 | |
| Decrease in debtors |
16 | 2,313 | 1,604 | |
| Increase in creditors |
16 | 58,765 | 61,307 | |
| Net cash generated by Operating Activities |
2,245,112 | 1,010,908 | ||
| Cash flows from Investing Activities |
||||
| Deposit interest Purchase of property, plant and equipment |
14 16 |
28,334 | 3,341 (252) |
|
| Net cash generated by Investing Activities |
28,334 | 3,089 | ||
| Net increase in cash in the period |
f 2,273,446 | f 1,013,997 | ||
| Reconciliation ofnet cash flow to movement |
in net funds | |||
| Net cash resources at 1 January | 2,564,380 | 1,550,383 | ||
| Net increase in cash |
2,273,446 | 1,013,997 | ||
| Net cash resources at 31 December | f4,837,826 | f2,564,380 | ||
| Analysis of net funds: | ||||
| Cash at Bank (note 7) | 16 | 4,837,826 | 2,564,380 | |
| f 4,837,826 | f 2,564,380 |
| 2. | INCOME | FROM INVESTMENTS | Page | 2022f | 2021 | ||
|---|---|---|---|---|---|---|---|
| Deposit interest | 28,334 | 3,341 | |||||
| 9 | F | 28,334 | R | 3,341 | |||
| 3. | INCOME | FROM DONATIONS | |||||
| Donations | received | 3,000,000 | 2,500,000 | ||||
| 9 | L' | 3,000,000 | L 2,500,000 |
| EXPENDITURE ON CHARITABLE ACTIVITIES Page |
EXPENDITURE ON CHARITABLE ACTIVITIES Page |
EXPENDITURE ON CHARITABLE ACTIVITIES Page |
EXPENDITURE ON CHARITABLE ACTIVITIES Page |
EXPENDITURE ON CHARITABLE ACTIVITIES Page |
2022 f |
2021 |
|---|---|---|---|---|---|---|
| UK Grants Awarded: | ||||||
| Racing Welfare | Reg. Charity No. 1084042 | 256,777 | 131,427 | |||
| BRSEducation Ltd |
Reg. Charity No. 1161555 | 150,000 | ||||
| Hong Kong Cancer | Fund | HK Charity 91/2745 | 103,368 | 91,547 | ||
| Racing to Relate | Reg. Charity No. 1182855 | 68,902 | 59,760 | |||
| Marie Curie | Reg. Charity No. 207994 | 60,308 | 39,000 | |||
| National Association | of Racing | Staff (NARS) | 47,467 | 49,280 | ||
| The Wavertree Education |
Trust | Limited | Reg. Charity No. 1111771 | 30,000 | 30,000 | |
| Priscilla Bacon Norfolk Hospice | Care Ltd | Reg. Charity No. 1166579 | 1,000,000 | |||
| St Michael's Hospice Hastings |
and Rother | Reg. Charity No. 288462 | 34,469 | |||
| The Racing Centre Greatwood Charity |
Ltd Ltd |
Reg. Charity No. 1107833 Reg. Charity No. 1117322 |
30,000 10,897 |
|||
| Total Grants Awarded | 716,822 | 1,476,380 | ||||
| Support Costs: Staff costs |
60,016 | 47,073 | ||||
| IT | 12,573 | 9,989 | ||||
| Accountancy fees Independent auditor Legal fees Trustee expenses |
fees | 8,400 7,800 3,684 3,038 |
7,200 7,200 86 |
|||
| Insurance | 2,020 | 1,824 | ||||
| Office expenses Depreciation Banking charges |
16 | 1,584 310 29 |
2,072 310 179 |
|||
| 99,454 | 75,933 | |||||
| Total Charitable Activities |
f 816,276 | f 1,552,313 |
| 5. | FIXEDASSETS | Page | 2022 E |
2021 8 |
||||
|---|---|---|---|---|---|---|---|---|
| Fixtures, fittings and equipment | at cost | |||||||
| Balance at 1 January | 1,554 | 1,302 | ||||||
| Additions | 252 | |||||||
| Balance at 31 December | 1,554 | 1,554 | ||||||
| Accumulated depreciation |
||||||||
| Balance at 1 January | 830 | 520 | ||||||
| Charge for the year | 310 | 310 | ||||||
| Balance at 31 December | 1,140 | 830 | ||||||
| Net Book Value at 31 December | 10 | E 414 |
L | 724 | ||||
| 6. | DEBTORS | |||||||
| Prepayrnents | 10 | E 423 |
F | 2,736 | ||||
| 7. | CASH AT BANK | |||||||
| Cash at bank | 10 | 64,837,826 | f 2,564,380 | |||||
| 8. | CREDITORS - amounts | falling due within one year | ||||||
| Donations | 118,417 | 58,132 | ||||||
| Accruals | 15,600 | 18,000 | ||||||
| PAYE & NIC | 1,791 | 1,193 | ||||||
| Trade Creditors | 737 | 455 | ||||||
| 10 | 6 | 136545 | f | 77780 |
| The Trustees consider tha ultimate controlling party. |
t the Foundation is jointly controlled by th |
e Trustees and tha |
t there is no |
|---|---|---|---|
| 2022 | 2021 | ||
| FINANCIAL INSTRUMENTS | 8 | 8 | |
| Financial assets measured | at fair value | 4,837,826 | 2,564,380 |
| Financial assets measured | at fair value consist ofcash at bank. |