RACING WELFARE

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Price Bailey LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The trustees have identified no material uncertainties and have a reasonable expectation that the charitable company and the group have adequate resources to continue in operational existence for the foreseeable future and the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.”

Group structure

1. RACING WELFARE · parent
   1. Racing Welfare (Enterprises) Limited 100% · England and Wales
   2. Racing Homes · Provision of housing
   3. The Rous Charity · Provision of almshouses

Significant events

• “In 2024 the charity continued to use its reserves to deliver the Workforce Wellbeing Programme, with support from the Horserace Betting Levy Board (HBLB).”
• “Racing Homes also faced a challenging 2024. The number of empty homes, despite our best efforts to fill them, saw significant lost rent at a time when we continue to invest heavily in the maintenance and future-proofing of our housing stock.”
• “In March 2024 we finalised the three-year Community Engagement strategy, outlining the priorities and areas of focus for the Community Engagement team.”
• “Unfortunately funding for the Community Engagement Programme was not renewed for a third year and we are seeking alternative funding and delivery options to continue this valuable work.”
• “In August 2024, we made the decision to sell the Hill House property in Middleham in order to pursue a more suitable opportunity for our housing plans.”
• “In February 2024, we completed the purchase of a new plot of land on Park Lane in Middleham and have already begun the process of applying for planning permission.”
• “Racing Homes trustees made the decision that the proposed plans for a property in Lambourn were no longer viable for the charity due to planning challenges and rising build costs.”
• “During the year, our funds were moved from Troy Asset Management and Liontrust Investment Partners LLP, to Brown Advisory Ltd and Latitude Investment Management, with the majority moved by the end of 2024.”
• “A new loan was taken out in 2018, secured against Summerhill House, Howard de Walden Way, Newmarket. The loan was repaid in full in June 2024 by Racing Welfare and the balance is now due from Racing Homes to Racing Welfare bearing interest at 5% over 5 years.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

0

last 24 months

Officers appointed

4

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.