Charlty rnglstratlon numb•r 1182855 Company r•gl$tration numb¢r CE017096 IEtvJland and Wales) RACING TO RELATE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
RACING TO RELATE LEGAL AND ADMINISTRATIVE INFORMATION AJ C Pratt P L Ckcwn J J Haibofd Chllrbty tvJmb•r 1182855 Company numb•r CE017 R•glstor•d oific• 82 Sl John Stree¢ Lon ECIM Ind•p•nd•nl Ex4n0r Jcth D Lee FCA Lee Aceounlin9 Sewvkej 2018 timrted Tr•Jlng as Leo & Co 26 HI Street Riekman5Wtyth WD3 1ER
RACING TO RELATE CONTENTS Pago Trustees rewrt Independent Ex8mSner's Rawt Sialemenl of fina181 actNII Slal6menl of finarKJd tes to the Mancial sLitsments 10-15
RACING TO RELATE TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY2023 The Raclng lo Relate Trustees Present r wort and the unalIted fina131 statements as a charitable Incorporated or9anisation ICIOI lor the charity's year eTrJed 31 May 2023. The financl31 statements compty wlh eurrenl stalulory r4uirements, the charily's Fcwndation Constilub'on and the Sktement of Recommend&Y Praclke - Accounting Repting by Charities." SORP applicable to charilles preparing Ihelr accLJunt5 in acCOrdar with FRS 102. Ovr registered Off is in central London al tr offices of Beavis M)rgan LLP. OblKtlv¢6 and actlvlll•8 The dwrity's o'ecls as slat8d in the FtxH)d8bon ¢onslilution afe.. -THE RESCUE AND REHOMING OF FORMER RACEHORSES VULNER4BLE TO ABANDONMENT, ABUSE. MISUSE OR NEGLECT AND IN NEED OF CARE ANO AThENTION THROUGH THE REHALITATIN AND RETF4AINING OF SUCH HORSES. The charity's 8CtMlw 8re rel8ie(I 10 8dvancwwJ the obi8cls of Ihe than'ly and In the ltial stages are pmalY re5eBrch, education, advocxy arKI cc¥nMufutK. The Raclng lo Relate Truslees 8hall 1fi6 rtycYv•s and 8cllvlll8s of chadty eath yeor. Thls report looks al what ihe charity has achieved aryl the cxjlcrn of ils the rewting period. Racing lo Rolale report5 the success ol each key 8clivily the benefits lh• chaiity has broWI io dalè. The review also help5 the Raclng lo Rdale Tfustees ensure the ch8ri1y's oblth85 aThl remalned Ic4)J on ils staled purposes. Th¢ Irustees have referred to the guldance In th• Chadty CommlBslon's genoial guldonce on publl bentsfil when revlewng the charivs objeeb.ves •TrJ in planring Its future ti.11&s. In partl¢xl81. thè Iru51ees consider how planned acb"vlb"es will conlftbvle Io Iho ObJIlyeS thal havè been sel. Our Mlsslon Racing (o Relate seek51o expkxe hdislic. eVidaSj approaches lo help protect the welfare ol Ihorovghbfeds aller careers in raong and breedlng, In p8rtleular lo support Iwse-centred tran5ilion and f9mplOYMent of retsred racehorsgs In Equr Asslsled Swvices. Our Vlslon Globol CMunItIeS of praclce cd18rat1ry to ethically gjstainable TrlOTed-HUMan fdal1cShIpS where horses and parwe flrAJrlsh. Our Approach Empathy ErrtJagèmenl claballOn Research Dl55eminatio Implemenlalon Advocacy Slorylelling 1015 & Evenis Ille engage wlth: Thwoughbred Industry & reL4ted Ghariues Equine As5isled ServKes sectc Equestrian seclors Equine health. behaw¢)ur & wellare experts Human heallh & behaviour experts and instiluthcffls Researchers and acadèmic insb"lub"ons Governments & NGOS Media & storylellers
RACING TO RELATE TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Our Strat¢glc Alm6 We provlde leadership. based on evidence, on besl lo tr$111 * emrAoy fomier faceh)rses In EAS. We Iherb Pfopo8e lo improve access to EAS post racin9 c4re8r5. whilsl simultaneoUY 0pbmlng equlne welfare and human wdlbeing outcomes Icullivobng Inlerspeoes lIKlErity} wilhin Ihis popular di¥ers¢ field. Th• key alms and work of ou ¢harlty durlw thls p•rlod T•lat•d lo the loui mlln headlngs ol our strategy (oullin•d below) and all wore achi襢d. Strategy Map In Iuflherance of our obltIVes. the Tru51ees ¥e cMIlt8d lo overse•lro r charity's Phase One Sir¥logy und•r the IdlowlTrJ maln heathros.. Ben4flt I Stak•hold•r B•n•fl¢l•ry Valu• Inlormed, evidence-ba5ed leadership on use ol IhcwJghbreds In aqulrKI Ihwapy, ImpToved aGce55 to equine assisted thapy. Ethanced equlne aThJ well8ro In Ihls soctfx olactivlty. Cap4¢ltl•s Ervjgge and align s18keholdtn. dovel¢¥kng effectrve partneAshws Ilnduthrvj charlll8s wlth Sift18r afyjlor complimenl8ry objectives) Ensure high quality research and Inlorm811on. Dtsvelop effeGtlve and Ic4néd up adv(wy. L••rning & Growth Effective commu¢811 enyAlng sh•red undefst8ThJlrwJ buy in to $lfalwy. Ensure adequ818 6pecl811s1 I technul experb.se Gather and dlssemlnale research aTrJ evtyj8n. R••OU•• Secure furrtjing Ph858 Ch)e Iyrs 1 to 5) Strengthen financial and organisaiional Sl81n8(111ty. Use resources stralegulty and efflL¥enty.
RACING TO RELATE TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Our Action Our activities irll researth, advocacy. di5seminaticrf) aEbJ extensiva Collabat an¢J engagement wilh ihe Thoroughbred Induslry, EAS sectors, expert5 in equine t)ehav)r and Welfa and experts in human physical and mental h¢allh. Melho(Jologie5 indude spe(idly commB5ts)ed InlemaliMal pNlol $drneS arKI even15 as well as analygs arky porting on Ihe use of oTf-track ThhbrJs wilhbn Ihe wdei EAS conlext. Racing To Relate has been invited lo ofler èvidence-based Je8¢Jership and gildce for key industry conferceS in 2024 lor bolh Ihe Racing Industry and EAS Sector. HighlighledAclion. Universal Language of The Horse Symposlum O•auvlM• 2023 in Collaboration with tho Horses & Huma Research Foundatlon, USA Wè co-organised this iniemalitNwI Symp0M whth to place al Lwlnes Inlem8lional Equeslrfan Centr&. Deauvllle. Speakers arrived Irom all ovef the worfd to prèsent on 8 V8fety ol equine aw51ed service research. 11 wa5 a truly innovative formal. bringryJ research from the latAy810ry Io Ihe arèna, quite lilerally, featuring a number of Ilve interactive defflonslratKns wilh research and eq-aSSIsIed pracbt¢oners and horses, including former racehorses and Veterans w0'rd with horse& Trall To Z•ro Racing To Relate OrganISed this high profile event wlh 8raveHearts. largesl eqiMne-aS1ad Se6$ program for Veterans in Ihe Uniled States In Ihe firsl Inl•rnallcaI Yrail lo Zero. Rld8 to ÉrKI Veleran Suicide". H05tlng two rides in Deauville and on UIAh 8ead). NomaKty. righl before the 79th anniversary ol D-D8y, Raclng To Rèlale lacilltated the partKipation ol Veler rklws frorn Scottish based EAS chadty, HorseBack UK, 8longside Freneh serving military and Veleran$. hLNses IlUded numercwJs former racehorses and p)lo hofses, escorted by horse5 and servtcemen and women from Ihe Fnch Repulean Guard. These events were made posslb18 due to the support of Ihe local Normandy Horse Council. the towns of Deauville and Sainte-Mari&4u.Monl Iutah Beach), the International Equestrian Complex LcrylnesiJeau¥llle. local affiliates. arhj most impcM1anUy. generous donors. . The rides raised Inlernauonal aWale8S ol the suicide ephjemic in U.S., France, Bnd the Unlle Kingdom among military veterans, and Ireased ten05S ol Ihe p(MerfLI impacl of equine.8ssisled seryices, iogelher wlh Ihe poien1181 role for former racehofsgs in tt¥g Sptwe Our PhD rgS9arch prolect with Unlverglty ot Brlstol . A Pioneering and claboratIve Siudy.. 'Seleclion and Educa ol Fonner Ra¢{TIMhbreosl for Equlne Assisted Therapy.. Oevelcyng the Evidence base lor a Global Stsndard. This collab¢yalJve PhD researeh wilh Ihe ur1verty of h85 'ndlY been made p0sble with lundlng from the John Pearce Foundalion. The comprehensive collatrAY81ive research pfoiticl Inlcrfms slralegy now and in Ihts fuiure in lirn wllh Gcx)d Impact PraclKo. Phase 2 01 the research prlect is prcgrossing well and res•arth Iwi hgve ¥iled an prOCedentod number ol EAS centres ThOroUbred retraining esiablishments across ihe UK, IrelaTrJ and France wilh ramole visits 8rMJ inlervieN5 with USA study participants in 2023. A fir51 xbentific article has been submitted and is sel I publication In eafly 2024. The research laam have presen1 Ihe re$tS of the study ai severol dlllerenl inl8mgllonal sdenlific conferences. ISAZ Ilnlernaticnal Soctety forAnlhrozl0yY Conference).. onllne ISES Ilnlemalional Society Eqvilallon scie1e1. Hartpury Universty, UK Equimeellng Medi81ion Equx". IFCE, France SFECA'S con1were Isoriété FranlSe d'EtYe Ccrfnptrlemenl Anlmg1- T¢xKS, Ff8nce- May 2023) Journèe ScierKe et Innovatron Equines (Saumur, France - June 20231 Horse and Humans Researth Found8iK)n and R*Jng lo relate Jolnwj conference around the Trall lo Z¢ro event (Oeauville. France- June 20231 European Federalion ol Animal S(aele's conference ILyon. France- August 20231 The feedback from the ConfenCe gaSe(s, partKipants. oui ILU)ders. itmlustry Mem[3 and related slak8holders has bean eXCllen1.
RACING TO RELATE TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 FufKlln9 Wè Are immensely gralaful to our funders and partners frx Iheir supp(xt vthch enables us lo pursue our ch8rtlab activities in line 1th our charity's ¥ion. Cxjr particular gratitud8 to thè Childwick Trust atNY the John Pearce Foundab'on and the Sir Peter O'sullbvan Charitable TNst. We have an acllve CAF Ichorllles Aid Fou1k)n) 8CCOLml and lIne don8Um laclity and are OgnISed for gill aid. Publlc b•n•flt The Trustees conlirm that Y have cTriwMed ¥th thelr duty lo have tyue regard lo the publlc benelll published by the Charity CommissKsn in exerugn9 t1( P(erS and dul*s. Structur•. governance and managem•nt Board m¢Èi$ lour Ilm¢s a y¢•r. ¥TrJ gl¥os dotslled C($JeraIk)n lo m110 the progress of the Charlly bn pchi8ving ils performarrA and qualily objectives. current and fvlvr8 profrecls. finanoal mattefs. 8s well 8s Ihe Idenllficalion and management of dsk. The Trustees and the CEO has devalopgd a budgel 10 8chl6va ihe objectives ol ihe Charity and the CEO has been charged by the Boaid to be respongbk lor the d8liv8ry ol this p18n. reportlng lo the Board M monthly pgrfcffmarKe. Thts Trusiees delegate respOn111Y for Ihe day.l¢>day 0petats and management ol the Charity lo the CEO. T CEO attends charily neork1r@ ev13 arKI meots coileawes so Ihat any rdavant in1110n. such as new Charlty Commis51on requlrements. sectoral devdowents rdalirvJ to 9ood practlce and impact me8suremenl, are reported lo the Trustees. The Trustees consider recruitrnenl of TNstees a$ thè need 8ri¥e$. AppltatiM$ Irom sulloble candldales would be soughl by Identifying specific gaps in professional skills arKI seeking re¢ommendations of professionally qualbfied candklales. 11 necessary. placing ad¥8rhsemenls In table PU1¢allOS. A n8w Trustee would be provided with informallon on ihe actlvities. financing and management structufg of Ihe Charity. togelherwilh chaLY Commission w'darKe and codes ol (X¥KbLKt related lo the rdes aTrJ respcffisibl1'8S ol Tru$le8S. Fln•nclal r•vl•w The resu115 the CIO'5 yew weie in line with the Iru5tees' exptn8, wilh rKome Ircrfn grnnl 8wards represent6ng Income lor Ihe year of £131.867. Tol81 expwttfjltufe In the year was t130.680. AcauliS approach lo expthidliure was adopied. Th8m c4sh balancos of £75,917 at Ihe yew end. Investmenl policy The Chadly hd(Js e8sh ba1ces. Goin9 concgrn In (he year ended 2023, we 8ttrncled (undlng rdS plljt sluthes 01 £16,665. The fijll lunding for our Ihree-year research project with ts Unlvwty ol Brisld {toial of £157.lJ(XJ} oblained In 2021 included £16,660 allocated lo Racir4J to Relale lor project liaism costs during the duralion of this proiect represenling £6,188 lor Ihe 2022-2023 finarKgal w•)d. Tho project 15 orvJoiThJ durirvJ the year, we received £68,902 for thal purtK>se (2022. £59,760). As al the year-end. our unieslricted lund b8lance was £7.877.
RACING TO RELATE TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 R¢$er4•s Poll The Trustees have set a of malntalnlng r¢soryes wulvalenl to th months. expeThJltUfe. Thls Is revlewad p&riodically, Restrlcled and unrestrlct•d lunds The funds al the year end Inrjude restricted rnsln(#ed fund& Rlsk The maior risks lo w.Ch Charity is exposed have been idenbfie(I by the Trustees &7d procedures eSIalsed lo milkJate these Tlsk5 are monilcxed a1 revitrwed regLdarty a1 have been Tr¢jOd In the rlsk regiyler. We minimbse finano risk by Iho preparaliM and moThloring of monthly accwnls. txwjgels, straleglc ri6k by the maintenance of good practico in Iho alknrAlion of grants,. and (4)erab"ond nsx and f8gulats"M ¢onpkance risk throu9h the regulaf review of a'vI.eS use ol prolesshy 8dvisefS. Stat•m•nt of Tru•t•••' r••pon•lbllltl Law ap1¢able lo charities Sn England & wa wre$ Trustees Io finaal slalemonls for each nanci81 year whlch g0 M Irue and lair view ol Iho charity's financial aclivitios dtjring the year and ol lis fin8ntyal position Bl the end ol ihe year. In w¢partng finaTrial statemenls Irue and f8ir vw, Ihe Trustees should folh)w be51 practice and.. select sukable &CotIng arh1 thon apply coniisl•ntly' ob8eNe Ihe methods ond pdn¢lixl$ ) Charit SORP: makè ludgemenls KI 08bmato6 that are reasonable and [dl.. $18le wheltr 8pplk8ble UK ACctisd0r5 orn1 stalvAMnts of reccffimended Pfactice have beèn lollowed. sublecl lo any Mat81 departures disdosgd and gXF4ained in Ihe finaTrial 81atemenls'. prepare th8 finarKial stalomen15 on th8 goirva c(rM b851$ unl$1¢ is In8pprcprf81& lo prasum8 ihal the charity will CGlinue in busin8ss. The Trustees are responsible for keepSro adeqtjale accwnliry records Ihal disdose th feasonable 8ecura¢y 01 any time Ihe financial posttim of the charity and enable them to ensufe that the TIna81 slalemenls comply wilh the Charits'es Act 2011. They are also responsible fof Sologuarding Ihe assets OT Iho ¢h8rily and hence frx taking reasonable slep5 lor preVenn oTrJ delecli(m of fraLMJ and other INe9thdiiè&. The Trustees are responslble for the malnlenance 8ThJ integrity of the eharity and fina81 Inlorm81ion Included on the charlty's websile. Legislat1 In Ihe Unite(l Kinu7J govwning the preparat and dissemination ol financial slalemenls may dllfer frryn le9slallon Sn other lurisdi¢tions. Independent examlner John D Lee FCA, of Lee Awounting S¢ThI5 2018 Limitwl Trading as Le8 & Co, wwe appointed as the ch8rSty'$ Independent examiner duriro the year and has exprgss&J ils wllinwess lo C¢tIl)e In Ihal cap8cbly. Thls report was approved by Ihe Tnlees ... ... ..... 519rd by..
RACING TO RELATE TrusTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2023 AJ C Pratt TnJsle• PL Trt J Hafbonl Tnjslee Dahd
RACING TO RELATE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RACING TO RELATE I report lo thetrustees Iwho are also Directors forlhe purpose ofcompany lawl on my examination of the financial statements of Raeing to Relate I'lhe charitable eompany'l for the year ended 31 May 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the ¢harity5 trustees, as a bCy, in accordance wth section 145 of Ihe ChariliesAct 2011. My work has been undertaken so that I might slate lo the charity's tTuslees trK>se matters l am required lo slate to them in this report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility lo anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed. Responslbilities and basls of réport As the trustees of the charitable company, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'lhe 2006 Act'l Having satisfied myself that the financial slalements of the charitable COFnpany are not required lo be audited under Part 16 of the Act and are eligible for independent examination, I rewrt in respect of my examination of the charitable company's financial statements carried out under sects.on 145 of the Charities Act 20111'lhe 2011 Acl'} and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151{bl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit 8nd consequently does not cover all the matters that an auditor considers in giving their opinion on the financial stalemenls. The planning and conduct of an audit goes beyond the limited assurance that an independent examinglion can provide. Consequently l express no opinion as lo whether the financial statements present a 'true and fair, view and my report is limited lo those specific matter5 set out in the indeper¥Jent examiner's statement. Independent examlnerfs stalem&nt I have completed my examination. I confim that no material matters have come to my attention in connection wrth the examination giving me cause lo believe that in any material respect." a¢¢ounting reGords were not kept respect of the charitable company as required by section 38e of the 2006 Act., or the Tinancial statements do not accord wth those records., or the financial statemènts do not comply with the accounting requlrements of secllon 396 of the 2006 Act other than any requirement that the financial slalements give a Yrue and fair view which is not a matter considered as part of an independent examination.. or the financial statements have not been prepared in accordance with the methods and principles of Ihe Statement of Recommended Practice for accounting and reporting by chariti"e8 applicable to charities preparing their accounts in 2ccordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no other matters in connection with the examin*ion lo which attention should b n in this reFK)rt in ord&rto enable a proper understsnding of the financial stst8ments lo be reached. John Lee FCA Lee Ac¢ounling Serylces 2018 Limite(I Trading as Lee & Co 26 High Street RI¢kmansYrth VVD3 1 ER
RACING TO RELATE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY2023 UnrHtrlcl•d R•strkt•d fvnds fur 2023 2023 Ttxal unrested Restn'ct8d fuTrJ5 fund5 2022 2022 Totsl 2023 2022 Donations and lègaciès Investments 2.965 131,887 25.538 59.781) 85,298 Totsl Incom• 68,902 131.868 25,538 59.780 85.298 Ch8rilgOle 8clivilies 75.579 55.1CQ 130.679 85,370 55.877 121,247 N•t incom• for th• periodl Net loutgoingyincoming r•¥our¢•s 112.6131 13,802 1,189 (39.8321 (35,9491 Other T•¢ognls•d g•in$ •nd l¢)8s•8 Other gains or losses (941 1941 11451 11451 N•t mov•m•nt In funds 112,7071 13.802 1,095 (39,9771 3.883 (36,0941 Fund balanc8s al 1 June 2022 20,584 33.558 54.142 .560 29.675 9),235 Furrfl b•l•n¢•¥ •1 31 May 2023 7.877 47.360 55,237 20.584 33.558 54.142 The statement at finanu81 activities Iude$ 811 gains aThJ losses recojnised in the year. All income expenijilwe derive Trom CefjlinLwfKJ 8Cli¥lbe The stslement of financial activities also complie5 wilh the requirements for an irwxme and exple account under the Companies Act 2006.
RACING TO RELATE STATEMENT OF FINANCIAL POSITION AS AT 31 AIAY 2023 Flx•d u••ts 10 213 11 Cash Il m trwKI 76,918 20.813 77.221 56.799 12 122.197) 65.024 54,142 14 47.)Xl SS.237 54.142 XX. •x th• yaw 31 May 2(r23. wth r¥A f)1 $lalthiwnts thK gva a Irt arnl farf LY th• #* aff•r4 I W•f• by 7I/,:/14'Z4 AJCP
RACING TO RELATE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY2023 Accountin9 poIici•s Charlty Informatbon Racbn9 to Rèlalè is a charitable incrxwaled wj8ntsa1n ICIOI inccoynletl in EnglanY aThJ Wales IReglslgred Charity No.11828551. The regslered office is 82 Sl Jthn Slfe81. London. EC1M 4JN. 1.1 A¢countln9 conventlon The financial $tements havè be•n li acoxdance wilh thg Conwanies Act 2CK16 and 'Accounlin9 antl Reporting by Charihes.. Slalement of Recofflmended Prachce applicable to charities prep8riw Ihelr accOutS In accordance with the FInarK1 Reporting Stsndard applicable in the UK gtvj Republic of Ireland IFRS 102) leffeclve 1 January 20191". The ch8riiy is o Public efit Enbty as defined by FRS 102, Th8 d)arily has Liken advantage of th8 provis5 in the SORP foi 4arities apthrvj FRS 102 Update Buleiin 1 r1 to prepare 8 Statarrtht of C8sh Fl(yws. The flnancial Slatemt5 are prepar In 5twliTrJ. Is lh8 lurKlional GUerKY ol the charity. Monelary amounts In those fina181 statements are rad lo the nearest £. The financial stalemonis hav8 bean Frfyrwj It hlslixic81 cost crmention. The pripaI eCtIng pollcies adopted ar8 set OLrt belcm. 1.2 Golng conc•rn Al the Ilme ol approvin9 Iho financlal slalemenls. Ihe Trustees ha¥8 a reasonable exratIon Ih81 the charily has adequate resources to conb.nue in opefabonal existence the foresee8ble luiure. Thu5 the Trustees contsnuo lo adopt Iha gra basi$ ol weparlng ts finon¢bal slalemenls. 1.3 Chaikt4blo fvnd• •e¢¢)untlng UNeslricled funds ère ava118ble u58 al the di51¥don of th8 Truste83 In frJrthefanc8 of tholr charllablg oblKllves. 1.4 Incoming ro¥our¢es Income is recogThsed when the chartty Is legally entilled to il afler any perfcwm8nce condillons hav8 been mel. the aMInIS can be measured rdiably. aTrJ il is wctsable ihal Irtome wlll be r0¢84¥ed. Cash dor¢81ions are r8c(yJniseil on rfKelpl. Olher 1jfflat5 are rwnised the ¢tharity has been nolified ol the donalMJn, UeSS perfomiarKe condib.ons requi deferral ol Ihe amount 1.5 Resources expend•d All COSIS are albcaled lo expendilwe ¢alegcw renecbrvJ Ihe ol the resources. tliroct Costs attn'bulable to a single acllvlty are allocaled dSreclly lo that aclivity. Shared costs are apporbon8d beeen the 8cllvllies they conlribule lo on a r8a50nabte, justifiable and consistent basis. 1.6 Tangible fixod assets T8ngible fixed assets are tl711Y 8¥ed 81 o)51 and subsequenuy measwed at cost valuation. nel ol deprooaiion and any impairm8nt losses. DepreciatiC 15 rocognised 50 as lo off tho cost or valualion ol assets1gs$ thgir res81 valu8s over their useful lives on the Idlowing bases.. IT Equipmenl 33.33% (m cost The galn or loss arisro on the disposal olan asset is (Jelern)sned 35 the differerKe befven the sale proceeds and the carrying value of Ihe asset. and is recognised in the statement ol financial aclivtltes. 10-
RACING TO RELATE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Accountlng pollcles (Continued) 1.7 Cash and ¢•8h oquiyalents Cash and cash gquivalenls ilde cash In h1 arwj deposits held atcal vlth banks. 1.8 Flnanclal instruments The charity has elacle(J 10 apply Ihe yovfjslons of Seckn 11 Inslnjnenis. of FRS 102 to all of its financial instruments. Flnanclal in5trunents are frSed in charity's balance sheet the charity becomes party lo tho contractual piovlgons of th& Instrumtrbl. Flnanci81 assats ar¥J liabilitie5 arg offset. tmth the nelamoffils pr$senlgd In finandal slalemenls. whèn Ihere Is a legally enforceable right lo set off the recwtstsj amounts WKI 15 an inlents'on lo sellle on 8 not basis or lo reallse the asset and sellle Ihe Iwbilily simultarwusty. Baslc Iln•nclal ass•ls Basic financial assels. whkh lrtlLKJo deblorn wvj cash and bank b818rt•$, are Irillally meA3ureil at translI0n price includSng Ir8nsa¢lion ws15 and are sub5equentty c8ffie<l al 8morlised cost Using ihe effective Interest mathod unless th• arrawemenl conslilules a finarvn9 Iransa¢Uw, there the Ifansacllon Is measured 81 Ih present valu8 01 the luture reeeipls dtsC¢te al a markel rale ol interest. Financial assels classified as IAl¥able withn cie year we not amrllsed. B&sl¢ nn•n¢lal Il¥bllldes Basic financial liabililles. Inck4dlng credblors. afe irwbally recTraniged al tr8nsacb.on price nsS the ariawemenl conslilutes a finanung tran(. vhiere th? debl inslnjmenl Is fflead èl Ihe present value of Ihe luluie payments discoted 81 a markel ra16 of Inlerest. Financ liablllb.es daSfied 8s payable wlthin one year are not amorlised. Debt Instruments subsewenlty carrwl al 8mortlsod cJ)sL Lnlng the effethe interest rale melh¢)d. Trade creditors are obllgalions Io p8y ICK gtr)ds or serwces thal h8¥e been 8cqulred In the ordinary course ol operations Irom suppliers. Amwnls payable are clas%fied as currenl li81&11eS if payment is due withln one year or less. 11 not, they are presented as non-TrJrTenl liatslities. Tiade crodilors are recogrNsed initsally al Iransaclion prfjc8 subsequenlty measwed 818morUged cosi usiNJ the effthe interest melh(MJ. 1.9 Forelgn •x¢hang• Transacllons in currencies olhw than p¢)unds slerlir¥J are recorded al the rates ol exchange prevailing al the dales of the Ir8ns8clions. Al each repjrfing erkl dale, monetsry assets 8ThJ liabllilies Ihal ace denominated in foreign currencies are relranslaled al lh8 rales prevalling on Ihe erKI dale. Galns aTr# losses arislno on (ranallOn in the period are indL&Jed in pmfil crf b)ss. Crltlcal cOUntIng •¥tlm4tM and ludgements In tha applicallw ol charlly's aCCn11n9 poSdes, the Twstees are requlred lo moke judgements, estimates and assumpiions about Ihe car.ng amrAJnl ol assels aThJ 1$alI1•e$ Ihal are not readrly apparent from other sources. The e5MateS and as50caaled assUmptKj are based on hislofical expgriwre and other laelors Ihal are Considered to be relevant. Actual Tesulls may diller frn Ihgse estimates. The esllm81es and undedyry assumpllons a reviewed on oTrJolng b8Sts. Rewsions lo accounting eslimales aro recDJnised in Ihe period in which Ihe eslimale is revlsed where the revision affects only Ihal k)en"od, or In the penod of the revi¢) aThJ lulure perirxls rfj Ihe revisn affects both CUTrenl and tulure periods.
RACING TO RELATE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Dontions and1ogaci•s Unreslri¢t•d R•stric¢ed funds lunds Total Unrestriet•d R•$trl¢tod nd$ funds Total 2023 2023 2023 2022 2022 2022 C#Jnalicffls and gifts 62,965 fj8,2 131.867 25,538 59,760 85.298 Charitablè •cti¥iti•s Support ct Support Costs Total 2022 Total 2023 Depreclats"on and ImWMnl Insurance Tr8vdlSr¥J and s*l¥ier Prlnliw and stationery Telephone and Inlemel Promoirjnal •xp•nsos Bank charges C(msull8ncy lees ¢puler aTrJ webstlts cosls Researth and study cost5 Accounl8nry Fees Prole55lonal Fees Entertainment Subscription Grant lunding ol actie5 (seo rK>le 6) 352 1.398 11.793 514 1.784 885 475 26.109 547 1,418 9,927 68 1,739 3,092 400 13,172 6,539 55,877 3,eOO S97 688 1.272 22.311 55,100 4,320 986 2,459 1,824 22,714 130,679 121.247 Analyslg by fund Unreslricled lurKIs Reslricle(I funds 75,579 55,1(10 85.370 55,877 130.679 121,247 12-
RACING TO RELATE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 Invgstments Unr•$tri¢t•d Unrestricled lunds funds 2023 2022 Interest reCeN8b on cash at bonk Grants p•y•bl• Charltable Charllobl• Expendlturo Exp•nditur• 2023 2022 Grants to In4lluth)ns'. Othgr 22.714 22.311 Tru8tM• None ol the Truslees rece4ved rennalK)n ty benelbis Irom charfty dudng the year. Employw• Tre were O employees durry Ihe year. Other galns or los¥•s Unr••trlct•d Unrestricted lunds lund• 2023 2022 Fofelgn exch8roe oakns 145 13-
RACING TO RELATE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2023 10 Tanglblo fl¥od ass•ts IT EqUIent Co•t Al 1 June 2022 1,640 Al 31 May 2023 1,640 D•pr•ciatlon and Impalrm•nt Al 1 June 2022 Oeprecialion d)arge<l In tho year 1,075 352 Al 31 Mty 2023 1.427 Carrylng amount Al 31 Mgy 2023 213 Al 31 May 2022 565 11 0•btor• 2023 2022 Amount$ f•lllng du• wlthln ¢)n• y•ar. Prep8ymenls and accrwd Inco 1.303 35,986 12 Cr•dltor¥: amountB falllng dug wlthln 0Thg y••f 2023 2022 Trade creditors Accruals and delerred Incom 185 22.012 1.547 1,675 22.197 3,222 13 Tax•lion Charity is exempl Ircm tsx on Incoff* 8nd galns falli)g within seC1k 505 of the Taxes Act 1988 or se¢llon 252 01 Ihe TaxatKn ol ChargBable Gain8Act 1992 to Ihe exlwil Ih81 se are applled lo Its charilptle oblecis. 14-
RACING TO RELATE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MAY2023 14 R•strl¢tod funds The income funds ol the charity include restrKled hJnd$ compri¥iry ts Ic41¢ythr@ wxpended balanS of donations and grants held M Iru for speofic purposes.. Ilov•mènt In funds Inci)mino R•sourc•• 8alanc• 0¢ ewuices exynded 31 May 2023 In¢cffj4ry 1 June 2021 1xpend 1 June 2022 Reslrlcled 29.675 S9.760 fSS.8771 33,558 68,902 15S.1(K)} 47.360 15 unrtrIcted funds These are unStrIcted fLwYJs whlch 8r• malerlal lo dlIS activtties made up a5 1(AIows.' lknm•nt In fvnd• IncornlrpJ R•4ourc•s Br0 ai Incomlng •xpnd•d 1 Jun• 2022 I••r¢•* R•Jour¢•4 BilonG• al •xp•nJ•d 31 M•y 2023 1 kn• 1021 General lun 25.5&8 165.5151 20.&84 e2.966 175,6731 7.877 16 An4ly•S• of n•t i•Mt# fund• G•n•ral Funds 2023 RtrIcI•d lund• 2023 Toial Fund• 2023 Fund balances al 31 May 2023 are rwesented by: Tangible assels Currenl Assets Current Lobllibe$ 213 9.319 {1.655) 213 77,221 122,1971 87.902 120.5421 7.877 47,360 55,237 15-