Post on 22-Sep-2020
ANNUAL REPORT AND ACCOUNTS 2015
2015
BUILDING A BRIGHTERFUTURE FOR OURSPORT, OUR HORSESAND OUR PEOPLE
BHA Vision and Mission 4 - 5
2015 Highlights 6 - 7
Chairman’s Statement 8 - 9
Chief Executive’s Foreword 10 - 11
Case Study: Members’ Agreement 12 - 13
Strategic Report 14 - 69
Financial Overview 14 - 23
Racing 24 - 33
CaseStudy:Moreopportunitiesforthree-year-oldsprinters 28 - 29
CaseStudy:Veterans’ChaseSeries 30 - 31
CaseStudy:Racetimes 32 - 33
Raceday Operations and Regulation 34 - 43
OnRaceday 40 - 41
CaseStudy:TheWhip–awelfareissue,notawelfareproblem 42 - 43
Integrity 44 - 53
Industry People and Development 54 - 57
Communications and Corporate Affairs 58 - 65
CaseStudy:UnderstandingtheAuthorisedBettingPartnerScheme 62 - 63
CaseStudy:TheHorseComesFirst 64
CaseStudy:RetrainingofRacehorses 65
Great British Racing 66 - 69
BHA Administration 70 - 71
Directors’ Report and Governance Statement 72 - 79
Key Statistics 80 - 103
Financial Statements 104 - 137
CONTENTS
4
BHA VISION AND MISSION
OUR VISION
Togetherwewillbuildabrighterfutureforoursport,
ourhorsesandourpeople.
OUR MISSION
Wegovern,regulateandrepresentBritishhorseracing
Weleadandco-ordinateactivitieswhichwillensurethe
overallhealth,developmentandgrowthoftheindustry
Weprioritisethewelfareofourhorsesandourpeople
OUR VALUES
Integrity:Wewillalwaysdotherightthingtouphold
theBritishHorseracingAuthority’s(BHA)reputationfor
fairness,andtomaintainthetrustofourstakeholders.
Accountable:Wetakepersonalresponsibilityforour
actionsandstrivetoimprovethehealthofBritishracing.
Credible:Weareopenandhonestaboutwhatwe
do,andtreateveryonefairlyandwithrespect.
Responsive:Westayin-tunewiththesport’s
diversestakeholderssothatwecaneffectively
meetagreedobjectivesandgoals.
Progressive: Wepromoteaforward-thinkingand
collaborativeculturewhilerespectingthestrong
heritageofBritishracingasasportandanindustry.
WHAT WE DO
Integrity
Licensing
Regulationofracing,includingracecoursesandparticipants
Raceandfixtureplanning
Racingadministration
Handicapping
GuardianshipofthePatternandrulesataninternationallevel
Medicalservices
Leadershipofequinewelfare
Industrycareersmarketing,training,developmentandwelfare
Industryrepresentation
Governmentrelationsandindustrycommunication
5
VISION AND MISSION
STRATEGIC OBJECTIVES
1 Toprovideequinewelfareleadership.
2Todeliverimprovedandsustainablefunding
frombettingonthesport.
3 Todevelopproperlyfundedandintegratedindustrytraining,
welfareandcareersmarketingactivities.
4 Toworkwithothersinthesporttogrowparticipationlevels
anddelivertheStrategyforGrowth,andassociatedtargets.
5 Todevelopafixturelistthatsupportstheindustry’sgrowth
objectivesandtoleadanholisticapproachtoraceplanning
thatmatchestheraceprogrammetotherequirementsof
theparticipants.
6 Tocontinuetoevolvearegulatoryandintegrityframework
thatensuresimprovedconfidenceamongstparticipants
andtheracingandbettingpublic.
7Todevelopandmaintainacohesiveandfriendlyworkplace
inwhichcommitment,contribution,enthusiasmand
professionalismisexpectedandrecognised.
8 TocontinuetodevelopaframeworkthatseesBritain
furtheritspositionasthehomeofthebestquality
racingintheworld.
9TooperatetheBHAonabreak-evenbasisoverthelong
termwhilstmaintaininganappropriatelevelofcash
reservesandtobetransparentabouttheBHA’sbusiness
planandbudget.
6
32%Reduction in race clashes involving
British and Irish races from 637 to 435
New tripartite governance structure
for British racing
Encouraged mutually beneficial
relationships with off-shore
bookmakers
Government commits to introducing
Horserace Betting Right
Eight members to represent the
betting public
48%Decrease in number of whip offences
since 2010 from 1,029 to 538
0.6%Increase in total number of runners
from 87,531 to 88,075
41Recommendations in Jump Review
to secure future health of sport
6.1millionRacecourse attendance, growth
of 5.3% from 5.8m
7.5%Growth in prize money to
£132.2m from £123.0m
358More horses in training 13,528
to 13,886
8.77Average race field size from 8.66
2015HIGHLIGHTS
Authorised Betting Partners
March 2015 Budget
✓
Members' Agreement
Horseracing Bettors' Forum
Note: Statistics compared to 2014 unless otherwise stated.
7
£2.77mPlus 10 contribution to British
prize money
342,000Visits to careersinracing.com
from 295,000
Conducted for first time PhD co-funded by BHA to
support jockey’s wellbeing and
long-term fitness
Enhanced anti-doping policy launched
£650,000Cash generated through first ever
R&D tax credit claim
1,000Individuals who accessed industry
specific training, and 800 registered
for racing-related qualifications
7,738Free Tickets for Troops provided in
2015, taking the total to almost 50,000
6,000People employed to care for racing's
14,000 horses in training
2015 HIGHLIGHTS
Leading anti- doping policy
Sales Testing
Jockey nutritionlinechart
8
CHAIRMAN’S STATEMENT
Thereisnodoubtthat2015wasasignificantyearforBritish
horseracing.Wewitnessedanumberoflandmarkmomentsfor
oursport–aworld-classindustrywhichsupports85,000jobs
anddeliversaneconomicimpactof£3.45billion.
Oursportcametogethertodevelopanambitiousgrowth
strategytogrowracecourseattendances,ownership,horses
intrainingandbetting,underpinnedbyastrongfoundationin
integrityandregulation,participantwelfareandtraining.
Thereisstillmuchtodobuttheinitialsignsareencouraging
withthereversalofsomenegativetrendsachievedin2015.
Racing’sleadersdemonstratedacommonsenseof
purposeinembarkingonthisnewstrategyforgrowth,
andformalisedthisunityinthesigningoftheMembers’
Agreement.TheBHA,theHorsemen’sGroupandthe
RacecourseAssociation,arenowjointlyresponsiblefor
makingdecisionsinthebestinterestsofoursport.
Amajorbenefitofthisunifiedapproachshowedearlyfruits
withtheprogressmadewithGovernmentin2014andearly
in2015andwhichresultedinachievingstrongministerial
andcross-partypoliticalsupportforthereplacementofthe
outdatedHorseraceBettingLevy.Iwouldliketoexpress
againmysincerethankstoallpastandpresentMinisters
attheDepartmentforCulture,MediaandSportandthe
verymanyparliamentarianswhohavedemonstratedan
understandingofthevalueofhorseracingtoUKplc,andfor
theirleadershipandsupportingettingushere.
ThecommitmentfromtheGovernmenttouselegislationto
restoreafairreturnfromallbookmakerstoracing,which
hasbeenlostsimplybecauseoftheshifttoremoteoffshore
betting,isamajorbreakthroughandwillhelpustosecure
abrighterfutureforoursport.
Iwouldalsoliketothankthemanyleadersinoursport,
themediaandofcourseowners,trainers,jockeys,
9
CHAIRMAN’S STATEMENT
breeders,studandstablestaffandracecourses–alltoo
manytomention–forsupportingracing’scampaignfora
fairreturnfrombetting.
Thisdevelopmentisonlyoneofanumberofstepswhich
arerequiredtoputoursportonamoresustainable
financialfooting.TheStrategyforGrowthidentifiesthe
needfortheindustrytoachievesignificantlymorethan
a£100millionupliftinannualincome,withmuchofthis
growthtargetedtobenefitthegrassrootsofoursport,
andthusbuildlong-termfoundations.
2015sawthelaunchoftheIntegrityReview,theresultsof
whichwereannouncedrecently.Thisreviewwasinitiated
byournewChiefExecutive,NickRust,supportedbya
changedboard(pleaseseeboardbiosfrompage77to79).
Thisboardisappropriateforthefuturechallengesand
opportunities,andhasagoodblendofracingknowledge
coveringallaspects,includingintegrityandregulation,
bookmaking,mediaandgrowth.Allboardmembershave
accesstoindustrybestpracticeandpossessabroad,
diverseandhighlyrelevantrangeofbackgrounds.
InJuly2015,wewelcomedanewmembertotheboard,Sir
PaulStephenson,apreviousHeadoftheMetropolitanpolice.
SirPauloversawthecompletionoftheIntegrityReview.
TheBoardandIaremotivatedbywhatwecandowith
otherleadersinoursporttohelpthegrassrootsandtoput
somethingbackintothecommunitiesweserve.
Racingplayssuchanimportantrole,inbothruraleconomies
andinnercities,inhelpingyoungsters,veteransandmany
othersmoveonwiththeirlives;throughourcommunity
engagementprogramme,RacingTogether,wehave
continuedtosupportthemostpressingsocialissues.
Acrossthecountry,racinghaspartneredwithlocal
communitygroupsandcharitiestoworkwithyoung
people,providingracing-basededucationanddevelopment
programmesandfutureemploymentpathways.Iam
gratefultoeveryoneinoursportwhohasgiventheirtimeto
supportthesehugelyimportantandbeneficialactivities–
andthereislotsmoretodohere.
Lookingahead,mypriorityisfortheBHAtocontinuetoplay
amajorroleasthesport’sgoverningbodyandregulator,and
asarepresentativeoftheindustrywithotherracingleaders,
togrowoursportandachieveamoresustainablefuture.
Steve Harman
Chairman
10
CHIEF EXECUTIVE’S FOREWORD
IamdelightedtointroducetheBHA’s2015AnnualReport.Overall,
ithasbeenagoodyearforBritishracingandtheBHAhasplayed
itspart,deliveringsignificantincreasesinactivitytosupportour
industrywhilereturningourbusinesstoasoundfinancialfooting.
AtthefirstIndustryUpdateroadshows,heldinApriland
May2015atEdinburgh,York,NewmarketandNewbury,the
BHAandGreatBritishRacing(GBR)setouttheindustry's
StrategyForGrowth,withthreekeytargetsforoursport
toachieve,eachanindicatorofthehealthofourindustry:
anadditional1,000horsesintrainingby2020;5per
centgrowthinbettingonthesportby2018;growinglive
attendancesto7millionayear(from5.8million)by2020.
Theracecourseshaveworkedwelltogethertogrow
attendances,achievinganearrecordof6millionlastyear.
Horsesintrainingincreasedbymorethan350,although
growthwasamongourverytopownershipgroupsand
syndicates,withsoleownershipcontinuingtodecline.
TherewasevidencethatbettingonBritishracingis
becominganevenmoreimportantbattlegroundforbetting
operators,andgrowthwasreportedatthemajorfestivals.
Thereisstillalottodo.Throughoutthisreportyouwillfind
detailsofanumberofinitiativestheBHAhasundertakenin
partnershipwiththesport’sparticipantsandstakeholders.
InJune,welaunchedareviewofourintegrity
functionstoensurethatwemaintaintheconfidence
ofthesport’sparticipantsandourcustomers.We
publishedthefindingsinfullinMarch2016,afterthe
reporthadbeensubjectedtoanexternalchallenge
panelandapprovedbyourBoardofDirectors.
Wecontinuedtotaketheleadinpeopleanddevelopment,
growingrecruitmentactivityunderourcareersinracing
brand,whilealsolaunchingtheParticipantWelfareand
TrainingPillaroftheStrategyforGrowth.Thispillaris
designedtoaddressthechallengeourindustryfaces
recruitingandretainingskilledstaff,especiallywork
riders.Significantworkisunderway,andtosupportthis,
a£1millionfundinggrantfromtheRacingFoundation
hasbeensecuredforanew,three-yearprogramme
focusingonworkforcedevelopment.Wealsocarried
outasuccessfultrialofemployer-ledtraining.
2015wasacriticalpointinourregulationand
governanceofthesport.InNovember,theBHA,the
RacecourseAssociation(RCA)andtheHorsemen’s
GroupsignedtheMembers’Agreement,anew
tripartiteagreementwhichwillensurethatwemake
thebigdecisionsinthebestinterestsofoursport.
WeworkedcloselywithGovernmenttoreplacetheoutdated
HorseraceBettingLevywhichhelpsfundgrassroots
racing,includingprizemoney,integrityandthewelfareof
ourhorsesandourpeople.TheGovernmentannounced
recentlythatitwillintroducethenecessarylegislationto
putthisinplacebyApril2017,whichisexcellentnews.
Ithasalwaysbeenclearthatwewouldnotbeabletorely
solelyonGovernmenttoresolveourindustry’sshort-
termfundingissues.WehaveseentheamountofLevy
orequivalentfundingfallfrommorethan£100million
asrecentlyas2008,to£70millionin2015,andexpect
thistoreducefurthertounder£50millionby2017.
11
CHIEF EXECUTIVE’S FOREWORD
Racinghadtotakeresponsibilityforthisissue,soin
October2015,BritishracinglauncheditsAuthorised
BettingPartner(ABP)policy.ABPisaninitiativeto
acknowledgeandrewardbettingoperatorswhopaythe
Levy,oranagreedcontribution,ontheirdigitalbusinesses.
Ithasbeencriticalinmaintaininginvestmentinoursport
withmoreandmorebettingactivitytakingplaceremotely
andthereforeoutsidethescopeofthecurrentLevy.
Onequinewelfare,wecontinuedtotakealeadership
role,workingcloselywithrecognisedinternational
andBritishanimalwelfarecharities,includingthe
RSPCAandWorldHorseWelfare.Aswellasprotecting
theintegrityofoursport,ournewanti-doping
ruleshelpsafeguardthewelfareofourhorsesby
precludingtheadministrationofanysubstancethatis
prohibitedatalltimes,includinganabolicsteroids.
Oneofourbiggestchallengesistooptimisethefixture
listtoincreaseattendancesandbettingonthesport,
whilemeetingtheneedsofhorsemenandracecourses.
Duringtheyear,weintroducedanumberofinitiativesto
increasefieldsizes,includingtheapplicationof£10,000
Plus10bonusestospecifictwo-year-oldraces(expanded
toincludethree-year-oldracesin2016),removing
geographicalclashes,introducingenhancedprizemoney
forplacedhorses,launchinganewraceseriesand
addressingpoorlyperformingraces.The2016fixturelist
waspublishedinAugust,muchearlierthaninrecentyears.
WeestablishedanewHorseracingBettorsForumto
allowpeoplewhobetonBritishracingtoprovideus
withconstructivesuggestionsabouthowthesportcan
developandchange,forthebenefitofthebettingpublic,
toensureracingremainsacompellingbettingproduct
andtoachieveourgrowthtargetof5percentby2020.
TheincidentinvolvingSpeculativeBidintheGigaset
InternationalStakesatAscot–initiallydeclaredarunner,
onlytosubsequentlybedeemedtobeanon-runner–
wasregrettable.Ourinvestigationidentifiedanumber
oferrorsontheday.Wehavenowimplementedthe
recommendationsofourinvestigationtominimisethe
riskofsuchincidentsinthefuture.Iampleasedthe
legaldisputewasresolved;hadwelostit,itwouldhave
hadseriousimplicationsforthefundingofoursport.
InDecember,wepublishedacomprehensivereview
ofBritishjumpracingwiththeaimofsafeguarding
jumping’sfuturehealthandensuringitsfuturegrowth.
IamdelightedthatEdwardGillespiehaskindlyagreedto
chairtheJumpRacingReviewImplementationGroup.
Wehavealreadyimplementedsomeofthe
recommendationsofthereview,includingrebalancing
centralfundingfor2016andintroducingtheChallenger
Series.Inaddition,thereviewgroupsupportedthe
ThoroughbredBreeders’Association(TBA)proposalfora
MareOwnersPrizeSchemewhichmeetstheaimsoutlined
bythegroupforencouragingmoremaresintojumpracing.
Lookingforwardto2016,wehaveanumberof
opportunities,andfaceanumberofchallenges,including
implementingtherecommendationsofourIntegrity
Review;usingourFixtureListtodelivergrowthforthe
industry;securingtheimplementationofthereplacement
oftheLevyontimeinApril2017andattherightrate;
improvinglevelsofskilledemploymentinourindustry;
andimplementingourstrategyforequinewelfare.Iam
confidentthatwiththegovernancechangeswehave
putinplace,thatBritishracingcanandwillcontinueto
actinaunifiedwayinthebestinterestsofthesport.
Nick Rust
Chief Executive
12
MEMBERS’ AGREEMENT
Members'Agreement:Securingabrighterfutureforoursport.
Inalandmarkmomentinthehistoryof
Britishhorseracing,inNovember2015,
theindustry’smajorstakeholderssigned
theMembers’Agreement,anew,tripartite
governancestructureforthesport.
TheMembers'Agreementensuresthatthe
sportisabletoactinaunifiedmanner,with
themajorstakeholdersmakingstrategic
decisionsforthelong-termbenefitofthe
industrybyactingasaunitedbody.
What does it mean?
The Members’ Agreement changes the way
the BHA operates and makes decisions for
the good of the sport. We now have three
categories of decision-making:
Decisionswhichcanbemade
autonomouslybytheBHA
Decisionswhichcanonlybemadeafter
consultationhastakenplace
Tripartitedecisions(whichfallintotwo
categories,CategoryAdecisionscanbe
madebya2:1majority,CategoryBdecisions
mustbeunanimous)
How will decisions be made?
Members’ Committee
Meetsquarterly,withresponsibilityfor
high-levelstrategicdecisions.TheMembers’
Committeecomprisesof:
BHAChairman,whochairstheCommittee
ThreeRacecourserepresentatives
RacehorseOwnersAssociation(ROA),TBAand
LicensedPersonnelrepresentatives,being
theNationalTrainersFederation(NTF),
ProfessionalJockeysAssociation(PJA)and
NationalAssociationofStud
andStableStaff(NASS)
Plusnon-votingobservers
Executive Committee
Meetsmonthly,withresponsibilityfor
executivedecisions.TheExecutive
Committee’smembersare:
BHAChiefExecutive,whochairs
theCommittee
1xRacecourserepresentative
1xHorsemen'sGroup(HG)
Plusnon-votingobservers
Parties to the Agreement
BHA
RCA
ROA
TBA
NationalTrainersFederation(NTF),also
representingtheLicensedpersonnel
CASE STUDY
13
MEMBERS’ AGREEMENT
Steve Harman, ChairmanoftheBHA
“Thisisalandmarkmomentforthesportandtheindustry.
Wenowmoveforwardfromapositionofstrengthasasport
andindustrywhichisunited.”
Nick Rust,ChiefExecutiveoftheBHA
“TheAgreementgetsourkeystakeholdersroundthetable
tomakebigdecisions,inthebestinterestsofthesport.It
makesusgreaterthanthesumofourpartsandrepresents
theindustryformallycomingtogetherinamannerwhichit
rarelyhasinthepast.”
Philip Freedman,ChairmanoftheHorsemen’sGroup
“Thismarksanotherstepontheroadwhichbeganover
twentyyearsagowhentheJockeyClubcreatedtheBritish
HorseracingBoard,priortothefoundationoftheBHAin
2007.Wenowhaveamodern,governancestructurewhich
isfitforpurpose.”
Maggie Carver, ChairmanoftheRCA
“WebelievethatitwillbenefitallpartiestotheAgreement,
ourmembersandthesportasawholethroughbetter
communicationanddecision-making.Wearecommittedto
workingwithourpartnerstoensurethatitdoes.”
THE MEMBERS' AGREEMENT BEING SIGNED BY, FROM LEFT TO RIGHT: STEPHEN ATKIN AND MAGGIE CARVER,
RCA, NICK RUST AND STEVE HARMAN, BHA, PHILIP FREEDMAN, HG, AND RACHEL HOOD, ROA.
14
15
STRATEGIC REPORT
FINANCIALOVERVIEW
In2015,wemadeasurplusbeforetaxof£160,000andaftertaxof
£690,000.Thiscomparestoadeficitbeforetaxof£1,363,000in2014.
Costsandincomein2015remainedatalowerlevelthanin2010.
Thesurplusfor2015wasdeliveredalongwithsignificant
increasesinactivity.Thiswasachievedthroughgood
costcontrol,newincomeandthefirstfeerisessince
2012.Ourfinancialaimwastoreturntobreak-even-
whichweachieved-andtostartreplenishingthedeficit
accumulatedin2014,whichsignificantlyreducedreserves.
2016representsafurtheryearoffinancialconsolidation,
withnoincreasesinstandardfeesforowners,ortotrainers'
licencefees,andwithlimitedfeeincreaseselsewhere.
Weaimtodelivervalueforthesportthrough
managingourcostseffectively,andtoachieve
anotheryearoffinancialstability.
Inlate2015,wepublishedabudgetguidewhichwasa
cash-basedforecastshowingasmalldeficitforthatyear.
Ouractualresults,baseduponaccountingprinciples,
showincreasedincomeandreducedcostsdelivered
throughefficienciesachievedinthefinalmonthsofthe
year.Thesefactorscombinedtodeliverasmallsurplus.
HEADLINE NUMBERS FOR 2014 & 2015
Surplus / (deficit) before statutory adjustments and before tax
Administrativecostsbeforestatutoryadjustments
Incomebeforestatutoryadjustments
£’000 £’000
30,65228,644
(30,492)(30,007)
160(1,363)
2014 2015
16
TOTAL INCOME BEFORE STATUTORY ADJUSTMENTS
Total**
Owners
Otherparticipants
Publications
Managementcharges
Propertyrecharges
Fines
Industrytrainingincome
Interest
Other
Racecourses
£’000£’000 %£’000
19,90118,704 6.4
7,961
659
564
394
169
155
90
27
611
7,514
597
524
380
133
150
20
60
562
5.9
10.4
7.6
3.7
27.1
3.3
350.0
(55.0)
8.7
1,197
447
62
40
14
36
5
70
(33)
49
30,65228,644 7.0%2,008
64.9%Racecourses
26.0%Owners
2.2%Otherparticipants
1.8%Publications
5.1%Other
More than 90 per cent of our
income comes from owners
and racecourses.Theproportion
ofincomefromeachsourcehas
remainedrelativelyconsistent
year-on-year.
2014 Variance Variance2015
Internationalrunnerandpermanentimporttesting* 1210 121
*Internationalrunnerandpermanentimporttestingincomeoffsetsthepeopleandsamplingcostsofdeliveringthisservice.
**Totalincomeof£30,652,000differsby£472,000fromthefigureshowninthestatutoryaccountsduetostatutoryadjustments.
17
STRATEGIC REPORT
INCOME EXPLAINED
Incomeincreasedby7percentin2015asa
resultofincreasesintheunitpriceoffeespaidby
racecoursesandparticipants,aswellasincreases
inthefixturelistandnewrevenuestreams.
The2015increaseinunitfeesof5.85percent
wasthefirstincreasesinceJanuary2012.
Our income can be broken down as follows:
Incomefromracecoursesisderivedfromcharges
forregulation,integrityandgovernanceservices.
Owners'feesconsistofentryhandlingfeesand
registrations.Entryhandlingfeeincomeincreasedby
6.3percentbetween2014and2015,drivenmainlyby
a5.85percentincreaseintheunitpriceofanentry.
Wechargealowerhandlingfeewheretheentryand
declarationismadeonline.In2015,90percentof
entriesand81percentofdeclarationsweremade
online.Movingtransactionsonlinehasenabledusto
makesavingsthroughourcontractwithWeatherbys.
Other participantfeesincludetrainerlicences,
stableemployeeregistrations,jockeylicencesand
incomefromamateurriders.Amateurriderincome
arisesfromridingfeesandprizemoneywoninraces
againstprofessionalsandisusedtofundspecific
costsassociatedwithamateurriders,thelargestof
whichisaninsurancepolicyforraceridinginjuries.
Wealsogenerateincomefromthesaleofracing
relatedpublications,includingtheRacingCalendar
andProgrammeBook,aswellasadvertisingin
thesepublicationsandonourracingadministration
website.Increasingadvertisingrevenuesaccounted
fortheyear-on-yearincreaseinincomehere.
Wehavethreemainmanagementagreementswith
BritishHorseracingDatabaseLimited(BHD)forthe
managementoftheWeatherbysagreement;with
RacingEnterprisesLimited(REL)fortheprovisionof
officespaceandfinance,ITandHRservices;andwiththe
Point-to-PointAuthorityfortheprovisionofregulatory
services.Inadditiontothepropertychargesincluded
withtheRELmanagementagreement,BHAalsosublets
spacetotheROA,RCAandBritishChampionsSeries
Limited(BCS).
Incomeisalsogeneratedfromfinesonparticipants
andracecourseswhicharisefrombreaches
oftheRulesofRacingandwhichareimposed
bythestewardsoradisciplinarypanel.
International runner and permanent import
testing incomeisnewin2015asaresultofthe
implementationoftheEquineAnti-DopingRules.
Thisnewincomeoffsetsthecostsweincurrred
incollectingandprocessingthesesamples.
Industry trainingincomeisgeneratedeitherfrom
grantsforspecificindustrytrainingactivitiesorfrom
runningourGraduateDevelopmentProgramme.
Interest incomehasreducedin2015asaresultof
lowerinterestratesandlesscashplacedondeposit.
2016incomeisbudgetedtoriseby2percent,
althoughworkisongoingtodelivernew,
sustainableincomestreamstoenhancethis.
18
TOTAL COSTS BEFORE STATUTORY ADJUSTMENTS
Weatherbys
Samplingandresearch
Propertyandoverheads
Legalandprofessional
Communicationsandcorporateaffairs
Publicationandproductioncosts
Committeesandenquiries
Totalstaffcosts
£’000£’000 %£’000
14,74914,259 3.4
5,378
3,330
2,405
1,016
456
445
369
5,232
3,108
2,201
1,109
554
461
363
2.8
7.1
9.3
(8.4)
(17.7)
(3.5)
1.7
490
146
222
204
(93)
Projectspend 7311,008 (27.5)(277)
Directors'remuneration 735676 8.759
(98)
(16)
6
ITinfrastructureandnetworkcosts 196166 18.130
Industrypeopleanddevelopmentexternalcosts 164177 (7.3)(13)
BHDlicencefee 159153 3.96
Horsemen’sGrouploanrepayment (175)0 (175)
Other 534540 (1.1)(6)
Total* 30,49230,007 1.6485
48.4%Totalstaffcosts
17.6%Weatherbys
10.9%Samplingandresearch
7.9%Propertyandoverheads
3.3%Legalandprofessional
2.4%Directors'remuneration
2.4%Projectspend
1.5%Communicationsand
corporateaffairs
1.5%Publicationcosts
4.1%Other
2014 Variance Variance2015
*Totalcostsof£30,492,000differsby£477,000fromthefigureshowninthestatutoryaccountsduetostatutoryadjustments.
19
STRATEGIC REPORT
Total staff costsmakeupapproximatelyhalfofour
overallcosts.Theseincludecostsassociatedwithsalary,
pension,NationalInsurance,benefitcostsandtraveland
subsistence.RemunerationspecificallyfortheBoard,
includingtheCEO,isseparatedoutfromstaffcosts.
Overall,totalpeoplecostsroseby3.4percent,drivenby
ageneralriseof2percent,plusincreasedheadcountin
corporateaffairs,industrypeopleanddevelopmentand
racingandoperationstosupportahigherlevelofactivity.
Totalstaffcostsareexpectedtorisebyabout4percent
in2016drivenbyadditionalstafftoachieveourobjectives,
thefullyearimpactof2015changesandsalaryinflation.
Weatherbysprovideadministrationservicesonalong-
termcontract.Themainservicescompriseprocessing
allownerregistrations,entriesanddeclarations
andmaintainingtheracingdatabase.Thesecosts
increasedduetocontractualinflationof1.54percent
(£80,000),increasedITdevelopment(£70,000)and
additionalactivity(£22,000),offsetbysavingsof£26,000
deliveredbybringingpayrollservicesin-house.In
2016,weanticipatefurthercontractualinflationary
increaseswillbepartiallyoffsetbyefficiencysavings.
Equine sampling and researchisprovidedunderan
agreementwithLGCandthroughourfacilitytheCentre
forRacehorseStudiesinNewmarket.Theleveloftesting
undertakenisshownonpage49.Theincreasedcosts
in2015arosethroughincreasedout-of-competition
testingforsubstancesprohibitedatalltimes,including
anabolicsteroids,oninternationalrunnersand
permanentimportsaswellastestingatvarioussales
bothintheUKandoverseas.In2016,wehavebudgeted
forcontractualinflationof2percent,plusincreased
samplingactivitytodeliverouranti-dopingpolicy.
InMay2015,ourcentralLondonofficesunderwent
arentreview,thisisthemainreasonbehindthe
increasedcostofproperty and overheads.Rent
accountedfor£0.75millionofthe£2.4milliontotal,
whichequatesto£40persquarefoot.Ofthistotal,
morethan£0.2millionisrechargedviasublets.The
majorityofthebalanceofthesecostsrelatetorates,
servicecharge,electricity,depreciationandinsurance.
In2016,thesecostswillincreaseasthefull-yearrent
reviewtakeseffectanddepreciationchargesincrease
significantlyasaresultofplannedcapitalexpenditure.
Legal and professionalcostsfortheyeartotalled
£1million,coveringourcompliance,regulatory
andgovernanceactivities.Inaddition,weclosed
ourdefinedbenefitpensionschemetofuture
accrualon31December2015andthelegalcosts
associatedwiththisclosurearealsoincluded.
Attheendof2014weappointednewBoardmembers
astheBoardwasrestructured.Thesecostsrepresent
theremunerationpayabletoBoardmembers.
Project spendvarieseachyearandcoversprojects
includingintegrity,equinescience,medical,the
Plus10bonusschemeandothercentralprojects.
Communications and corporate affairsisanessential
areaofgoverningauthorityspendandincludessome
costsrelatingtotheGodolphinStudandStableStaff
awards,TheHorseComesFirstcampaign,aswell
asthecostofGovernmentrelations.
Publication productioncostsareassociatedwiththe
RacingCalendarandProgrammeBook.Thesecosts
reducedduringtheyearduetoarationalisationin
contentandachangeoflayoutfortheRacingCalendar.
Committee and enquirycostsincludethefees
payabletocommitteemembersandthecostof
accessingrecordingsfromthedigitalarchive.
Duringtheyear,wereceivedarepayment
fromtheHorsemen’s Groupof£175,000.
COSTS BROKEN DOWN
20
PERSONNEL BREAKDOWN
Ourheadcountfor2015was210asat31December.Wealsoemploysessionalstaffduringtheyear,primarilyinraceday
regulationandoperations,whohavenotbeenincludedinthetablebelow.
Racedayoperationsandregulation
Raceday operations and regulation Total
Racing and operations Total
Integrity, legal and risk Total
Executive Total
GBRI Total
Industry people and development Total
Comms and corporate affairs Total
Total as at 31 December 2015Business unit Cost Centre
34
111
37
30
13
3
9
7
EquineWelfareandIntegrityOfficers
15Starters
11
3
VeterinaryOfficers
Medical
9
3
ClerksofScales
RacedayServices
8
2
Judges
RacecourseandPointtoPoint
4
2
InspectorofCourses
CentreforRacehorseStudies
20StipendiaryStewards
Racingandoperations
Integrity,legalandrisk
Commsandcorporateaffairs
Industrypeopleanddevelopment
Executive
GBRI
11
8
3
6
13
3
Handicappers
Integrity
Plus10BonusScheme
Industrypeopleanddevelopment
Executive
GBRI
8
5
2
ProgrammeOfficeandDevelopment
StableInspectors
CorporateAffairs
3
5
Finance
Compliance
3
4
ICT
Licensing
2
3
OfficeServices
Disciplinary
10
5
2
3
RacingDepartment
InvestigatingOfficers
Communications
HR
Grand Total 210
21
STRATEGIC REPORT
TOTAL COSTS BEFORE STATUTORY ADJUSTMENTS
RacingandOperations
Executive
Integrity,LegalandRisk
IndustryPeopleandDevelopment
CommunicationsandCorporateAffairs
RacedayOperationsandRegulation
£’000£’000 %£’000
6,6386,639 (0.1)
2,508
1,695
1,768
486
324
148
2,354
1,615
1,817
413
174
71
6.5
5.0
(2.7)
17.5
86.6
108.5
(1)
154
80
(49)
73
150
77
1,1821,176 0.56
Total 14,74914,259 3.4490
45.0%RacedayOperationsandRegulation
17.0%RacingandOperations
11.5%Executive
12.0%Integrity,LegalandRisk
3.3%IndustryPeopleandDevelopment
2.2%CommunicationsandCorporateAffairs
1.0%Corporatecostsnotattributable
toindividualbusinessunits
8.0%PensiondeficitcostsandPension
ProtectionFundlevy
Totalstaffcostsincludeallthecostsshowninnote
fourofthestatutoryaccountsplusalltraveland
subsistence,otherbenefitcostsandpensiondeficit
andPensionProtectionfunding.
Overall,staffcostsroseby3.4percent.Whiletotal
staffnumbersremainedapproximatelythesame
attheendof2015comparedtotheendof2014,we
increasedresourceinracedayregulationandoperations,
industrypeopleanddevelopment,withcorresponding
reductionsinsupportfunctionsandGreatBritishRacing
International(GBRI).Thisenabledustodelivercertain
keystrategicobjectivesacrossthebusiness.
2014 Variance Variance2015
Corporatecostsnotattributabletoindividualbusinessunits
PensiondeficitcostsandPensionProtectionFundlevy
22
Since2010,costshavedecreasedandinrealtermshave
reducedbymorethan10percent.Thisreductionhas
beeninthecontextofsignificantincreasesinactivity
inareassuchasequinesampling,industrypeopleand
developmentandgovernmentrelations.Therewerenofee
increasesin2013or2014andthisresultedinasignificant
deficitin2014whichreducedreserves.Ouraimisto
replenishreservesoverthenextthreeyears.
SIX YEAR TREND
BHA SURPLUS AND DEFICIT (£'000)
BHA INCOME AND COSTS (£'000)
441270
(1363)
160
500
0
(500)
(1000)
31,000
2011 2012 2013 2014 2015
30,250
29,500
28,750
28,000
20112010
2010
2012 2013 2014 2015
(1,500)
Income
Costs
(51)(110)
23
STRATEGIC REPORT
RECONCILIATION TO STATUTORY NUMBERS
TAXATION
AdjustmentsinrespectofFRS102forpensions
Taxation
Surplus/(deficit)aftertaxation
Statutorysurplus/(deficit)beforetax
Surplus/(deficit)beforestatutoryadjustmentsandbeforetax
Surplus/(deficit)beforetaxation
£’000
£’000
£’000
£’000
160
759
(1,363)
(745)
599
530
1,289
759
618
67
(678)
(745)
2014
2014
2015
2015
In2015,weimplementedFinancialReportingStandard
(FRS)102,whichrequiredustorestatecertainprior
yearfigures.FRS102pensionadjustmentsof£599,000
increasedsurplusbeforetaxto£759,000andsurplus
aftertaxto£1,289,000.Theanalysisofincomeandcosts
onpage16to21isbaseduponsurplusexcludingstatutory
pensionadjustments,asthisbetterreflectsouroperating
activitiesasasingleentity.Wearealsorequiredtoproduce
consolidatedstatutorynumberswhichincludesthe
operationsofRELandBHD.Theanalysisandcommentaryis
basedonlyonouractivity.
In2015,wesubmittedclaimstoHMRCforResearchand
Development(R&D)taxcreditsforexpenditureincurred
inveterinaryandmedicalresearch.Thisisthefirsttime
R&Dtaxcreditshavebeenclaimed.Ournettaxcredit
of£530,000includes£650,000ofcashreceivedortax
creditsrelatingto2012,2013and2014.
Ourcashbalanceismadeupofoperatingcashandring-
fencedcashforspecificpurposes(i.e.notouroperating
activity).Operatingcashintotalreducedovertheyearasa
resultofcapitalexpenditureandchangesinworkingcapital.
CASH
£’000 £’000
2014 2015
Ringfencedcash
Operatingcash
Total cash
6,347
5,060
11,407
5,058
5,569
10,627
Note:Operatingcashincludessomecashheldondeposit.
24
DELIVERINGCOMPETITIVEAND COMPELLINGRACING
25
RACING
RACING
During2015,wecontinuedtofocusourraceplanningactivitieson
deliveringcompetitiveandcompellingracing.Developingafixture
listwhichmeetsadiverserangeofobjectivesandstakeholders'
needsisoneofourbiggestchallenges.
Thefixturelist,inmeetingtheagreedsporting
objectives,mustbeproducedinthebest
interestsofthesport.Indoingsoithasto
striketherightbalancebetweentheabilityof
thehorsepopulationtodelivercompetitive,
compellingracing,andtheneedsofthe
racecourses,withtheaimofmakingBritish
racingassuccessfulaspossible.
In2015,wepublishedthe2016fixturelistin
August,earlierthaninrecentyears,toallowour
customerstoplanaccordingly.Thismeantthat
wecouldpublishtheProgrammeBookearlier
forthebenefitofhorsemenandtheracing
public,andthatracecoursescoulddetermine
theirbudgetsandmarkettheir2016calendar.
Throughout2014,fallingaveragefieldsizesled
torealconcernsabouttheattractivenessofthe
sportasaspectacleandasabettingproduct,
withnovicechasesandflatnoviceraces
frequentlyattractingsmallanduncompetitive
fields.Weintroducedanumberofmeasuresin
2015toreversethetrendofreducedfieldsizes.
Whileconsciousoftheimpactofreducingthe
numberofracesstagedonracing'sincome,
averagefieldsizeshadreachedapointwhere
weneededtotakeaction.Usingamonthlyfield
sizeforecastingprocess,wewereabletoreduce
thenumberofracesinatargetedmannerwhile
minimisingtheimpactonprizemoney.
Weremovedaround130racesfromthe
programmeatcertain‘pinch-points’when
historictrendsshowedthehorsepopulation
tobemoststretched.Thedatafromthis
suggeststhatthisinitiativedidhelpfield
sizesinthisperiod.
Wecontinuedtofocusontheresolutionof
manyofthegeographicalclashescontained
inthecurrentlist,tohelpincreaseracecourse
attendancesandfieldsizes.
Wealsofocusedonimprovingtheperformance
ofcertainracetypes,includingreducingthe
numberofweight-for-agenovicechasesand
introducingnewraceconditionsforsellers
andclaimers,whilereducingthenumber
programmed.Wereachedagreementto
introduceanewapproachtothetwo-year-old
flatnoviceandmaidenprogramme,whichwe
willseetheresultsofin2016.Thetrialwillsee
Headline elements for 2016 Fixtures1,482 scheduledfixtures(1,471in2015)
40%jump, 39%flatturf,21%allweather
1,219racecoursefixtures
198BHAFixtures
13self-fundedfixtures
52enterprise/otherfixtures
DELIVERINGCOMPETITIVEAND COMPELLINGRACING
1,482Scheduledfixtures
26
thesignificantmajorityofmaidenraces(about
85percentoraround180races)convertedto
novicecontestsbetweenthestartoftheflatturf
seasonandthebeginningofJuly,whennursery
handicapscommence.Itisdesignedtoprovide
amoreattractiveprogrammeforwinningtwo-
year-oldstocompeteagain,andtoreducethe
numberofsmall-fieldraces.
Plus 10
Aspartofourcommitmenttogrowthenumber
ofownersintheindustry,andtohave1,000
morehorsesintrainingby2020,thePlus
10bonusschemewaslaunchedin2014.By
offering£10,000bonusesontopofprizemoney
acrosstwoandthree-year-oldracesinBritain
andIreland,Plus10offerssignificantreward
toownerswhoinvestinandsupportBritish
andIrishbredbloodstock.Wemanagethe£5.5
millionbonusschemewhich,inahistorical
first,operatesacrossbothBritainandIreland,
aswellasattendallmajoryearlingandfoal
sales,whileliaisingwithowner,breederand
trainerassociations,togrowthescheme.
In 2015:
417Britishtwo-year-oldraces
featureda£10,000Plus10bonus
£2.77millionworthofbonuses
wononBritishtracks
160ownersand177breedersshared
intheBritishbonuswinnings
Wealsointroducedaschemetopayadditional
prizemoneytoplacedhorsesinorderto
supportincreasedfieldsizes.Thiswasfunded
throughbookmakers’voluntarycontributions
(whichalsosupportedtheVeterans’Chase
seriesdiscussedonpage30to31).Additionally,
andforthefirsttime,webegantoassess
whetherindividualraceshaddeliveredforthe
sportasawhole,withtheprovisionofeight
runners(andplacebettingdowntothird)
classifiedasa‘success’andraceswithfewer
thanfiverunnersclassifiedasa‘failure’.
Duringtheyear,weconsultedwith
stakeholders,includingtheHorsemen’s
GroupandtheRCAtodevelopabetter
waytocreatetheraceprogrammeto
benefithorsemen,racecoursesandthe
widerindustry.Wepublishedthefindings
atthebeginningof2016whichidentified
theneedforimproveddatatoinformrace
planningdecisions,improvedprocesses
whencompilingtheraceprogramme,
bettercommunicationwithtrainersand
increasedvisibilityforracecourses.
Key metrics at the end of 2015 show that
the measures we introduced have started
to have a positive effect. Average field
size increased from 8.66 to 8.77; the total
number of runners increased by 0.6 per cent
despite the fact that the number of races fell
by 0.6 per cent; non-runners fell by 5 per
cent; the race failure rate (i.e. races with
fewer than five runners) fell from 15.4 per
cent to 12.9 per cent while the race success
rate (i.e. races with at least eight runners)
rose from 59.2 per cent to 61.7 per cent.
Ofcourse,theseimprovementsarejustthe
beginningandwewillcontinuetodevelop
furtherinitiativestoensurethatwecan
deliverimprovedresults.
417Britishracesfeatureda
£10,000bonusin2015
27
RACING
INDUSTRY
GROWTH TARGETS
1,000Additionalhorsesin
trainingby2020
5%Increaseinbetting
participationlevels
by2018
£120mAdditionalincomefor
thesportperannum
by2018
7mRacecourseattendance
targetby2020
AspartoftheIndustryStrategyforGrowth
thatwelaunchedwithGreatBritishRacing
in2015,wesettargetstogrowattendances,
increasethenumberofhorsesintraining
andtoincreasebettingparticipationlevels.
OurongoingworkwiththeMembers’
Committeetorebalanceandrestructure
thefixturelistandraceprogrammewill
playacriticalroleinhelpingtomeetthese
objectives,aswellascontinuingtoprovide
competitive,compellingracing.
Jump Review
WealsoconductedaJumpReviewin2015to
assessthehealthofjumpracing,identifyand
examinethethreatsandchallengesfaced
bytheindustry,andtocreatelogicaland
deliverablesolutionstothesechallenges.
Weaimtousetheworktocreatealong-term
strategyforjumpracing,onewhichoutlinesa
pathfromwhichfuturegrowthandsuccesscan
bedelivered.Thereviewwaschairedbyformer
managingdirectorofCheltenhamRacecourse
EdwardGillespie.Particularareasoffocusfor
thereviewincludedtheraceprogramme,field
sizes,participation,ownership,breeding,horse
population,prizemoney,sales,racecourse
attendances,mediaandbettingtrends.
Handicapping
Ourhandicappingteamisresponsiblefor
producingtheratingsthatformthebasisof
allhandicapraces,whichcurrentlymakeup
65percentoftheraceprogramme.Theirrole
extendstointernationalmattersincludingthe
assessmentofeveryFlatPatternRaceinthe
world.Thisenablesustotakeaprominent
roleintheassessmentofallhorsesrated
above115whichappearintheLonginesWorld
RacehorseRankingsattheendoftheyear,and
allhorsesrated110-114whichappearinthe
Europeantophorseslist.
HeadofHandicapping,PhilSmith,co-chaired
LonginesWorld’sBestRankingscommittee
andalsotheAnglo-IrishJumpClassifications.
In2015,PhilappearedmonthlyonAttheraces
ontheAskTheHandicapperfeatureandalso
ledtheHandicappingseminarontheBritish
RacingSchoolTrainers’Course.
Duringtheyear,wealsolaunchedanew
initiativetohelpexplainhowhandicapping
works,andtoaddressthequestionsandissues
ofthesport’sfansandparticipantsthrougha
dedicatedemailaddress,withresponsestobe
publishedonanongoingbasisviaourwebsite.
28
MORE OPPORTUNITIES FOR THREE-YEAR-OLD SPRINTERS
In2015,weplayedakeypartinapan-Europeaninitiative
designedtoaddressthelackofopportunitiesforhigh-class
three-year-oldsprinters,whileimprovingtheoverallstandard
ofsprintGroupracesinEurope.
Wemadetwochangestothesprint
programme.First,weworkedwiththe
EuropeanPatternCommittee(EPC)toeither
upgradeorintroducealimitednumberof
Patternracesrestrictedtothree-year-olds
inthefirsthalfoftheseason,culminating
inanewGroup1sprintraceatRoyalAscot,
theCommonwealthCup.Second,weworked
withtheEPCtodeliveramorebalanced
overallsprintprogramme,providingbetter
opportunitiesandgreaterincentivestorun
high-classsprintersinEurope.Thisincluded
upgradinganumberofracesincludingthe
BritishChampionsSprintonQIPCOBritish
ChampionsDaytoGroup1,andtheFlying
FiveonIrishChampionsWeekendtoGroup2.
OnthenewlycreatedCommonwealthCup
inparticular,perhapsthemostremarkable
point(quiteapartfromtheinternational
representation)wasthefactthateveryrunner
hadalreadyearnedblacktypebythetimeof
therace.Thisincluded13winnersofblack
typeraceswhiletheotherfiverunnershadall
beenplacedinblacktypeevents.
Itwasespeciallypleasingthatthewinner
ofeveryupgradedtrialleadinguptothenew
Group1contesttookpart.Thetrialraces
themselvesallexceededtherequiredrating
parameterfortheirnewgrade,showing
notonlytheappealoftheinitiativebut
thequalityofsprintersattractedtorun
inEuropeasaresult.
“Asaresultofthesechangeswehavehad
anexcellentsprintingseason.Whatwe
didn’tknowuntilthatRoyalAscottourde
forcewasinMuhaararwehadachampion
sprinterinwaiting.Theownersofthree-year-
oldsneededtobeencouragedtoconsider
sprinting.ThenewGroup1raceatRoyal
Ascot,plusimprovementstotheearly-
seasonprogramme,helpedtodoexactly
that,whiletheQIPCOBritishChampions
SprintproveditselfworthyofaGroup1
update."Lee Mottersheadinthe
RacingPoston19October.
CASE STUDY
29
RACING
THREE-YEAR-OLD SPRINTER MUHAARAR WENT ON TO WIN THE DARLEY JULY CUP, THE LARC
PRIX MAURICE DE GHEEST AND THE QIPCO BRITISH CHAMPIONS SPRINT STAKES AFTER HIS
VICTORY IN THE INAUGURAL RUNNING OF THE COMMONWEALTH CUP. MUHAARAR AND JOCKEY
PAUL HANAGAN ARE PICTURED HERE WINNING THE CHAMPIONS SPRINT.
RUNNERS IN THE COMMONWEALTH CUP HELD AT ROYAL ASCOT FOR THE FIRST TIME IN 2015.
30
Oneofthehighlightsof2015formanyracingfanswasthe
inauguralVeterans’ChaseSeries,whichfeaturedsomeof
oursport’sfavouritehorsesfromyearsgoneby.
Veterans’chaseswerenotanewthing,in
fact,wereintroducedthemtotheprogramme
asClass2handicapsin2008.Whatwasnew
andinnovative,wasstructuringaseriesof
elevenracesworthatotalof£400,000with
a£100,000finalforthosethathadstartedin
oneofthequalifiers.
Wecreatedtheseriestoprovideaboost
toSundayracingandtogivesomeofthe
mostcherishedchasersintrainingachance
tocompeteagainsttheirownagegroup.
Predictably,giventherewardsonoffer,
fieldsizeswerehealthy,withtheaverage
acrossthewholeseriesreaching9.55,
thehighestsince2008.
Therewereotherbenefitstoo,notleastthe
factthatelderchasersstartinginaveterans’
chasein2015subsequentlywentontowin
theBetBrightGrimthorpeChase,theBetfred
GrandNationalTrial,theRymanStationery
HandicapChase,theCoralScottishGrand
NationalHandicapSteepleChaseandthe
CoralWelshGrandNational.Theyalsofilled
fourofthefirst10placesintheCrabbie's
GrandNationalChaseitself–withAlvarado
bestoftheveteransinfourth.
ThefinalatSandownParkon2January2016
wasamemorableevent.Inoneofthestirring
finishesforwhichSandownisfamous,itwas
11-year-oldSoll(forDavidPipeandowner
DerrickMossop,whoalsobredthesonof
Presenting)whoprovedvictoriousina
drivingfinishfrom12-year-oldAachento
baghisthird,andmostimportant,veterans’
chaseoftheseries.
Therecanbenodoubtthiswasafabulous
firstyearoftheVeterans’ChaseSeries,
withsupportfromracecourses,sponsors,
owners,trainers,bookmakers,media,
race-goingandstay-at-homefollowers
ofthesport.Therealstarsoftheshow,
however,weretheveteransthemselves
and,followingthisinitialsuccess,weplan
torepeattheseriesin2016.
VETERANS’ CHASE SERIES
CASE STUDY
9.55Highestaveragefield
sizesince2008
31
RACING
SOLL WINNING THE 32REDSPORT.COM VETERANS' HANDICAP CHASE FINAL AT SANDOWN PARK ON JANUARY 2
AACHEN WINING THE BETBRIGHT CHELTENHAM FESTIVAL FUND VETERANS’ HANDICAP CHASE, DONCASTER
32
InNovember2014,weledacross-industryinitiativetofocuson
reducingracetimeclasheswhichdetractfromourcustomer's
viewingexperience.TheLevyBoardhadestimatedanaverageloss
of£1,500totheLevywhenaraceclashesagainstanotherBritish
orIrishrace.Thisfigurerisestoapproximately£5,000forarace
thatisbroadcastonterrestrialtelevision.
In2014,therewere637racetimeclashes
involvingBritishand/orIrishraces.Ofthese
clashes,358involvedaBritishracestarting
whenanotherracehadyettofinish.
WithfinancialsupportfromtheLevyBoard,
weemployedadedicatedresourcetooversee
racingeachdayandtoco-ordinatedelays
withracecoursestotryandavoidasmany
racesoverlappingor“clashing”aspossible.
CommencingthisinNovember2014,we
achievedareductioninthetotalnumberof
clashesto435,ofwhich214involvedclashes
withBritishraces.
Manyoftheremainingclashesoccurondays
when,duetothevolumeoffixturesandraces,
someclashesareunavoidable.
Itisworthnotingthatrunningonerace
immediatelyafteranotherwillhavethesame
detrimentaleffecttobettingturnoverasa
directclashand,asaresult,wetrytoensure
thatthereisaminimumgapof45seconds
betweenraceswhereverpossible.We
classifyanyracewhichcommenceswithin
45secondsofanotherracefinishingasa
nearclashandwearecontinuingourefforts
toreducesuchoccurrences.
IRE/GB
GB/GB
IRE/IRE
GB/IRE
Type
20152014
CountCount % by Type% by Type
43.8279 50.6
41.3
14.9
0
263
95
0
29.7
19.5
0.2
220
129
85
1
Total 100.00637 100.00435
RACE TIMES
CASE STUDY
33
RACING
Stayers’ Maidens
Wedeveloped10newraceswithenhanced
prizemoneyof£10,000thankstosupportfrom
theBritishEuropeanBreedersFund(BEBF).
Theaim:tohelptoprepareaproportionofthe
two-year-oldpopulationforafuturestaying
career,aswellasprovideencouragement
fortheongoingproductionofsuchhorses.
New Challenger Series
Weannouncedasignificantboostformid-tier
jumpracingwiththelaunchoffivenewseries
ofraces,knownastheChallengerSeries.
TheChallengerSeriesisanexpansionofthe
successfulandpopularGrassrootsJump
Serieswhichwaslaunchedin2011/12.
TheChallengerSeriescomprisesfive
separateseriesthatallowhorsesrated
upto135toqualifythroughatotalof
75racesforafinalsdayatHaydock
ParkonEasterSaturday.Thefinalsday
carriesprizemoneyofabout£265,000.
Anadditionalbonusfundof£50,000willbe
availableonChallengerSeriesFinalsDay
foranyhorsewhichwinsaqualifierand
thengoesontowintheseriesfinal.The
ChallengerSeriesproposalwasraisedand
recommendedbytheJumpRacingReview
whichwasalsocompletedduringtheyear.
Also in 2015
34
GOVERNING ANDREGULATINGHORSERACINGTO HIGH STANDARDS OF INTEGRITY
35
RACEDAY OPERATIONS AND REGULATION
RACEDAY OPERATIONS AND REGULATION
Ourracedayoperationsandregulatoryteamscontinuedtoensurethat
Britishracingwasfairandoperatedtohighstandardsofintegrity.
Throughout2015,wemadeanumberof
improvementstobenefitthesport.
Forexample,weintroducednewstarting
proceduresinjumpracestoimproveboth
controlandfairness,reducingthenumberof
falsestartsinbothhurdleandchaseraces.
Wecontinuedtomoderniseandimprovethe
startingprocessesbytriallinganautomated
falsestartautorecalldeviceatKempton.
Ourracecourseinspectoratecontinuedto
developandtrialanewdesignofapadded
hurdle.Acrossthetworacecoursesinvolved,
TauntonandNewtonAbbot,weexperienceda
reductionintheaveragefallerrateto1.7per
cent,comparedwiththenationalaverageof
2.18percentfortheperiodbetween2005and
2009.Weplantoextendthetrialtoafurther
threeracecoursesin2016.Thisisanexcellent
exampleoftheworkbeingdonetohelp
ensurethewelfareofbothhorseandjockey.
Wecontinuedtoworkoninitiativesto
improveourprocessesandoursystems,
includingdevelopingafastresultssystem
todelivertheofficialresulttothepublic
andstakeholdersfaster.Inthefield,our
EquineWelfareIntegrityOfficerstrialled
anelectronichorseidentificationand
samplecollectionsystem.Afurthermajor
projectin2015wasthedevelopmentofa
newstewardsinformationmanagement
systemdesignedtoenhancethecapacity
andintegrityprovisionofthiskeyfunction.
Wealsoenhancedthestructureofthe
stewardingteamatracemeetingsbycreating
anewpermanent,professionalroleof
Stewards’Secretary,whoarenowpresent
ateachfixture.TheStewards’Secretaries
carryoutadministrativefunctionsinthe
stewards’room,and,crucially,haveincreased
ourresilienceastheypossesstheskills
necessarytoactasasteward,ifrequired.
Duringtheyear,weworkedwiththe
RCAtoadoptanewmethodologyforthe
measurementofjumpracedistancesto
achievegreateraccuracyandtoreflectthe
methodologyalreadyusedatflattracks.
Jumpraceswerepreviouslymeasuredalong
themid-pointofthecourseusingasurveyor’s
wheel,butundertheagreednewmethodology,
theyhavebeenmeasuredalongalinetwo
yardsofftheinnermostrunningrailposition
andprofessionallysurveyedtothenearestyard.
Alljumpracedistancesarenowadvertised
1,740Numberofstewards'
enquiries
Stewards enquiries in 2015:Interference:759(528inbreach)
Whip:548(538)
Running and Riding:433(261)
36
usingboththetraditionaldescription–rounded
tothenearesthalffurlong–alongsideanew,
exact‘baseline’distance,describedtothe
exactyardage.Havingabasemeasurement
meansthatchangestoracedistancescanbe
advertisedmoreaccurately,particularlyiflate
changestotheracinglinearenecessary.This
hasbenefitedtrainers,jockeysandriders,
ownersandbettingcustomers.Asaresult
ofthischangetheCrabbie'sGrandNational
isnowadvertisedas4mile21/2furlong
andremainsthelongestraceinBritain.
Duringtheyear,ourmedicalteamcollaborated
withstakeholderstodeliveracomplete
re-writeoftheBritishHorseracingAuthority
GeneralInstructions(BHAGI)inrelation
toracedaymedicalprovision.Thiswasa
significantprojectwhichbuildsontheexcellent
medicalhealthandwelfareprovisionfor
participants,inparticularjockeysandriders,
thatisalreadyavailableatracecourses.
TheenhancedBHAGIsaredesignedtoassist
racecoursesinimprovingandupdating
manyaspectsofmedicalcareforjockeys
andridersincludingservicessuchas
ambulances,physiotherapyroomsandthe
medications/equipmentavailableinjockeys’
andriders'medicalrooms.Theaimisto
ensurethatracingremainsattheforefront
ofmedicalcareforitsparticipantsinwhat
isahigh-risksportingenvironment.
RacecoursesareinspectedbytheBHA
onanapproximatethree-yearcycle
althoughifanyconcernsareraised,snap
inspectionscanbeundertaken.These
auditsaretoensurecompliancewithour
BHAGIs.Visitsduring2015,whichwerea
mixtureofannouncedandunannounced,
didnotrevealanynon-compliancewhich
couldputjockeyandridersafetyatrisk.
WealsoworkedwiththeLiverpool
JohnMooresUniversitytolauncha
majornewPhDstudyintojockeynutrition
andwellbeing,withtheintentionof
usingthefindingstoeducatejockeysin
betterfitnessanddietarypractices.
Further relationships and studies have
been developed with the following academic
institutions to progress the jockey research
agenda and with the overall aim of having the
scientific evidence base to support the concept
and development of the ‘Jockey Athlete’:
LiverpoolJohnMooresUniversity:The
EffectofDehydrationonCardiacFunction
OxfordUniversity:Epidemiologicalstudies,
TheJockeyStudy–BoneHealthandInjury
QueenMary’sUniversityofLondon:
Interventionstudies,Vestibular
RehabilitationinConcussion
British Horseracing Authority General Instructions key changes:
Annualriskassessmenttoallowcoursestoenhanceminimum
standardstoreflecttheirparticularindividualcircumstances,
includingcoursecharacteristicsandgeographicallocation
Clarityregardingrolesandresponsibilitiesofmedicalstaff
withenhancedregistration,traininganddisciplinaryprocesses
Revisedminimumequipment,drugsandfacilitiesstandards
inlinewithcurrentmedicalpracticeinpre-hospitaltraumacare
Workingtowardsallcourseshavingadedicated
physiotherapyprovision
4m 2½fDistanceoftheGrand
National-Britain's
longestrace
37
RACEDAY OPERATIONS AND REGULATION
STARTER ROBBIE SUPPLE KEEPING AN EYE ON RUNNERS IN THE
GLENFARCLAS HANDICAP STEEPLE CHASE AT CHELTENHAM.
38
Anti-doping
In2015weappointedananti-doping
managertooverseebothhumanandequine
anti-dopingprogrammesandtoensure
Britishracingmaintainsacultureofclean
sport.Thisdevelopmenthasgivenusnew
impetustorefreshtheapproachwetakein
thisimportantarea,tocontinuetoprevent
dopingandtoprotectthereputationofthe
sport.Wearealsokeentolearnfromthe
experiencesofothersports.
Weundertakebreathalyserandurinetests
amongjockeysandridersattheracecourse
andtheracingsschools.Out-of-competition
testingreferstotestingundertakenin
connectionwiththereinstatementoflicences.
During2015,wecarriedout1,016
breathtests,withonepositiveresult,
and295urinetestswiththreepositive
results,allattheracecourse.Afurther
34urinetestswereundertakenatthe
racingschools,withonepositiveresult.
Finally,threetestswereundertaken
inconnectionwiththereinstatement
oflicences,withnopositiveresults.
Onequineanti-doping,amajorachievement
lastyearwasthereleaseofourleadinganti-
dopingpolicy.Thishastheobjectiveofensuring
thatBritishracingremainsattheforefront
oftacklinganissuethatranksamongstthe
biggestthreatsfacedbyanyworldsport.
Theintroductionofournewanti-dopingpolicy
wastheculminationofahugebodyofwork
whichcommencedin2013toestablishhow
Britishracingwouldnotonlyadhereto,but
exceedwherepossible,theinternational
minimumstandardsonanabolicsteroiduse.
Theuseofhairsamplingisanadditional
toolinouranti-dopingarmoury.Althoughit
isnotusedonitsown,itdoescomplement
ourcurrentprogrammeofdetectingand
deterringdopingbyhelpingtodetect
substancesthathavebeenusedoveran
extendedtimeframe,andbyprovidingan
informedbasisforfurtherinvestigation.We
continuetosupportresearchintohairtesting.
Aftertheannouncementofournewanti-
dopingrules,wecarriedoutaprogrammeto
contactthoseaffectedbythenewrules,both
domesticallyandinternationally,toensure
thatthereexistsawarenessacrossworld
racingoftherequirementsoftherules.This
includedthepublicationofacomprehensive
guidewhichexplainedtothosewhoare
responsibleforahorse,whattheymustdo
toensuretheyadheretotherules.
Concussion
Concussionremainsanimportanttopicin
sportingeneralandparticularlyinracing
wherewehaveoneofthehighestconcussion
ratesperminuteofparticipationofanysport.
Historically,wehavehadarobustprotocolfor
bothpre-competitionscreeningandpost-
concussiontestingwithclearguidelineson
returntosport.Toensurebestpractice,these
protocolsaresubjecttoreviewandweare
planningtolaunchaneducationprogrammeto
remindallmembersoftheracingcommunity
oftheseriousnessofconcussionandofour
collectiveresponsibilitytomanageitcorrectly.
Equine welfare
“TheBHAisrecognisedaroundtheworld
ashavingimplementedahighstandard
inequinecare.”The Environment, Food
and Rural Affairs Select committee
in Parliament,February2016
Oneofthemainreasonswehavepushed
sostronglyfortheintroductionofanew
fundingmechanismforthesportisto
safeguardthevitalveterinaryresearchand
educationfundingtheindustryprovides.
1,016Breathtestswere
undertakenwithone
positiveresult
39
RACEDAY OPERATIONS AND REGULATION
Equinewelfareleadership,improved
benchmarkingofracehorsewelfare
information,andimprovedcommunicationof
ourworkunderpinnedouractivitiesin2015.
Ourvetswerepresentateveryoneofthe
fixturesheldin2015.Oneoftheirdutiesis
therecordingofallinjuriesandfatalitiesthat
occurontheracecourse.Thisprovidesa
benchmarkfromwhichtheindustrycontinually
strivestoreduceinjuryrates,whilewealso
publishdataoninjuriesandfatalitiesas
partofourcommitmenttotransparency.
Britishracinginvestsconsiderableresource
inensuringthatthehighstandardsofequine
welfareitdemandsfromallofitsparticipants
aremaintained.Thisincludesourrequirement
withintheRulesofRacingfortrainerstotake
allreasonablestepstoensurethesafety
andwelfareofallhorsesundertheircare
orcontrol(whetherornottheyarecurrently
intraining),ourunannouncedstablevisits
toconducttestingorchecksonracehorse
welfare,andalsobeingoncourseeachrace
daytoidentifyhorsesuponarrival,monitor
activityinthestableyardandprotectthe
welfareofhorsesthroughouttheday’sracing.
Ourcross-industrycampaign,TheHorse
ComesFirst–supportedbyracecoursesand
horsemen–hasbeeninstigatedtogetthe
messageouttoourindustry,oursupporters,
thewiderequinesector,thegeneralpublicand
politiciansthatBritishracinghasarecordon
equinewelfaretobeproudof.
Whileweareproudofourrecordonequine
welfare,wearefarfromcomplacent.Seepage
64forfurtherinformationonTheHorseComes
Firstcampaign.
“ Over the last 15 years, the equine fatality rate in British
racing has fallen by a third. The reduction has been achieved,
in part, through the electronic collection of injury data and
post-race analysis. This data is widely shared with epidemiological
specialists who look at tracks or jumps linked with high
incidences of injury and proactively recommend remedial
action based on the analysis.”
EnvironmentFoodandRuralAffairsSelectCommittee
40
ON RACEDAY
Ourpeoplearevitaltotheeffectiveandsaferunningofevery
racemeetinginBritain.Ourteamofstewardsandstarters,
clerkofthescales,veterinarians,equinewelfareofficers
andjudgescarryoutessentialrolestomakesurethatevery
raceisfairandcompetitive,therulesareupheldandthatthe
welfareofhorsesandparticipantsistakencareof.
Ourdaystartsearly.Ashorsesarriveattheracecourse,
ourEquineWelfareIntegrityOfficer(EWIO)teamis
onhandtoscaneachhorse’smicrochipandtocheck
its‘passport’tomakesurethatthecorrecthorse
hasbeenbroughttothetrack,andthatvaccinations
areup-to-date.EWIOsworkwiththeon-course
stafftoassignthenewarrivalstotheirstables.
About70minutesbeforethefirstrace,allBHA
racedayofficialsmeetforabriefing,alongwith
theClerkoftheCourse.It’sherethatimportant
informationissharedabouttherunnersandriders
tomakesuretheracesrunsmoothly.Factorsthat
mightbediscussedincludewhetheranyhorses
haveahistoryofcausingproblemsatthestartofa
race,anywelfareissuesorrecentchangesinform,
bettingmarketsandfirsttimerunnersandriders.
Asthehorsespreparetoenterthepre-paradering,
intheweighingroomtheClerkoftheScalesweighs
outeachjockeytoensuretheyrideattheirassigned
weightandtrainerscollectsaddlesfromthejockeys.
Whilefinalpreparationsarebeingmadeintheparade
ring,stewardsandvetsareamongsttheaction,
lookingoverhorses,checkingthatthecorrectgear
isbeingwornandthathorsesarefitforracing.
Whenthebellringsout,jockeyssteertheirmounts
outontothecourseandheadforthestart.
Atthestart,thecourse’sstallsteamorhandlers
willcheckgirthsandthestarterswillhelp
jockeysgettheirmountreadytostart.
Oncethehorsesarelinedup,orinthestalls,
thestartersetstheraceinaction.
41
RACEDAY OPERATIONS AND REGULATION
Meanwhilethejudge,whohasthebestviewof
theracecourse,checksovertherunnersand
ridersfordistinguishingcoloursormarksthat
willhelpinplacingthehorsesinaclosefinish.
Iftheraceistooclosetocallbyeye,therace
judgetakesaphotobeforehecallsthefinish.
Oncetheraceisoverthehorsesandjockeyswill
returneithertothewinner'senclosureortothe
washdownarea.Veterinarianswillcheckover
horsestoensureallhaverecoveredwellandmay
eventestanumberfromthatrace.Ateachmeeting,
atleastfivehorses,selectedbythestewards,are
testedbythevetstoensuretheyhavenotraced
withanyprohibitedsubstancesintheirsystem.
Meanwhile,thestewardswillassessanyissue
detectedwithintheraceandwherenecessary,
bringjockeysortrainersiniftheyrequirefurther
informationabouttherun.Whenastewards’hearing
iscalled,whichcouldaffecttheplacingsorleadto
arunnerbeingwithdrawn,abellringsoutacross
thecoursetosignalaninquiryhasbeencalled.
Stewardsarelookingatwhethereachhorsehasbeen
runonitsmerits,whetheranycasesofinterference
mighthaveaffectedthefinalpositionsofthehorses
andtomakesuretherehavenotbeenanybreachesof
therules.Theywillreplayaraceseveraltimesbefore
satisfyingthemselvesthattheracecanbeclearedor
decidingthattheydoneedtocallaformalenquiry.
Whilethisisoccurring,jockeysarebeingweighed
backinbytheClerkoftheScalestoensure
theyhavenotlostorgainedanyweight.
42
Background:In2011weundertookacomprehensivereviewof
thewhiprulesinconsultationwithstakeholders,andconcluded
thatthecurrentdesign,togetherwitheffectivecontrolsonitsuse,
didnotcompromisethewelfareofhorses.
In order to reduce the number of offences, instigate a
cultural change in riding style among British riders,
promote good horsemanship and safeguard the welfare of
horses and public perception of the sport, we:
Reducedthepermittednumberofuses–sevenforflat
andeightforjumpracing
Introducedanewpenaltystructure
Providedstewardswiththediscretiontoassesstheride
anduseofthewhipasawhole
Figures for 2015, compared with those in 2010 (the
last full year before the introduction of the current
rules) show that:
Despiteeffectivelyhalvingthethresholdthattriggersthe
stewardstoreviewarideforuseofthewhip,totalwhip
offenceshavereducedbyalmosthalf(48percent)since
2010,from1,029(outofatotalof92,025rides)to538in
2015(outofatotalof88,075rides),continuingalong-
term,downwardtrend
In2015,thenumberofwhipoffences,expressedasa
percentageoftotalrides,was0.61percent,compared
with1.12percentin2010
Casesofinterferencehavefallenby40percentsincethe
introductionofthenewrules
In2015,thenumberofinstanceswheretheuseofthe
whipresultedinjockeysuspensionsofmorethanseven
daysfellbyathirdto41,comparedto2014
Justthreehorses(or0.003percentofthetotalnumber
ofrunners)werewealedasaresultofwhipusein2015,
comparedtoanaverageof20ayearbeforetheBHA
amendedtherules.Veterinaryofficersexaminehorses
aftereachraceandreporttothestewardsanyhorsethey
believehasbeenwealedasaresultoftheuseofthewhip.
Asapercentageoftotalrides,whipoffencesare
proportionatelyhigherforflatracing(0.41percentofall
rides)thanforjumpracing(0.2percentofallrides)
Statisticsforthetopfivejumpjockeysin2015showthat
betweenthemtheyincurredjustfiveoffencesoutofatotal
of3,896rides(0.12percent),withtwooutofthetopfive
jumpjockeysnotincurringanywhipoffencesatall
In72GrouporGrade1racesin2015,sixwinningrides
incurredawhipsuspension(2014:4).Between2014and
2015,thetotalnumberofwhipsuspensionsinthese
typesofracesrosefrom13to22.
What next?
Ourviewisthat,overall,thenewrulesandpenalty
structurehavehadasignificant,positiveeffectonjockey
behaviour,reducingthenumberofwhipoffencesand
safeguardingthewelfareofracehorses.Wearecontinuing
tomonitortheuseofthewhipwithbothhorsewelfareand
publicperceptioninmind.
THE WHIP: A WELFARE ISSUE, NOT A WELFARE PROBLEM
CASE STUDY
43
RACEDAY OPERATIONS AND REGULATION
48%Totalwhipoffences
havereducedbyalmost
halfsince2010
JOCKEY AIDAN COLEMAN AND EMPEROR'S CHOICE ON THEIR WAY
TO WINNING THE BETFAIR HOME OF PRICE RUSH HANDICAP CHASE
AT HAYDOCK, IN FRONT OF DANNY COOK ABOARD LACKAMON.
44
KEEPING OUR SPORT FAIR AND CLEAN
45
INTEGRITY
INTEGRITY
Anessentialpartoftheworkwedoisconcernedwithmaintaininghigh
levelsofintegrityinhorseracing.Thiscreatesalevelplayingfieldforall
participantsandhelpstomaintainpublicconfidenceinoursport.
Ourwillingnessandabilitytoinvestigate
issuessuchasrace-fixing,corruptbetting,
dopingandotherseriousrulebreacheshelps
toensureoursporthashighlevelsofintegrity.
Whileitisonlyaverysmallminorityof
peoplewhosetouttobreaktherules
deliberatelyinordertogainanunfair
advantage,ourmessagetoanyone
temptedtobreaktherulesremainsclear:
itissimplynotworthit,astherisksfar,
faroutweighthepotentialrewards.
Our work in this area includes:
Live-timemonitoringofracing,the
bettingmarkets,andsourcesof
informationsuchassocialmedia
Licensingandpermittingthesport’s
jockeysandamateurs,trainers,registering
ownersandmembersofstablestaff,
inspectingtrainers’premisesand
assessingthemagainsttherequired
standards.Wealsolicenceriders'
agents,valetsandequinepools.
Conductinginvestigationsintopotential
breachesoftheRulesofRacing,
andsubsequentprosecutions
Reviewingracesalreadyruntocheck
forpossiblebreachesoftheRules
ofRacing,withaviewtopotentially
reopeninginfrontofadisciplinarypanel
Runningthesport’santi-doping
programmesforhorsesand
professionaljockeysandamateurs
Inthecourseof2015,wetooka
numberofsignificantstepstoensure
thatracingremainscleanandfair.
Werecognisetheimportanceofeducatingall
riders,trainersandownersabouttherules
andhowtocomplywiththem.Duringthe
year,ourstaffgavemorethan50integrity
talkstogroupsofpeopleacrosstheindustry.
Wealsorolledoutaneducationalvideo
featuringFergalLynchtalkingabouthis
experienceofbecominginvolvedincorrupt
activity,whathelearnedfromthatandthe
advicehenowgivesyoungjockeystohelp
themtoavoidmakingsimilarmistakes.
Wehavecontinuedtomakeourcollectionof
intelligenceandourinvestigativeprocesses
moreeffectiveandefficient,including
developingnewsoftwareformonitoring
bettingactivity,andalsoasystemforsecure
electronicsharingofinformationbetweenthe
IntegrityteamandtheBHAracedayteams.
Wehavealsosoughttobemorerobust
andtoactswiftlywhenfacedwithnon-
cooperationduringourinvestigations.
50Industry-wideintegrity
talksheld
46
Theintelligenceledrisk-basedapproachtostable
inspectionshasledtoafurtherdropinthenumber
ofHighRiskinspectionswhichhavenowreduced
by12percentsinceimplementation.
Ourteamofstableinspectorshaveconsistently
contributedtotheeducationalprogrammesat
BritishRacingSchoolandNorthernRacing
College,speakingonmorethan40occasions.
Durring2015,wecompletedtheprocessofmoving
ourlicenceandpermitapplicationsonline.This
meansthatalllicensingapplicationsarenowmade
throughanonlinesystem,witheachapplicant
beingabletoaccesstheirowndetailssecurely.
Wearecurrentlyreviewingthetrainingprovidedto,and
ourindustry'srequirementforjockeys.Oncurrentfigures,
fluctuationsinthenumberofflatandjumpjockeysis
quitesmallandwehavemorenowthan10yearsago.
Wedonotconsiderthedeclineinapprenticejockeysto
beanissue,withthegeneralconsensusthatcurrent
numbersoutstripdemand.Wearemonitoringclosely
thenumberofconditionals,althoughthedecreasehere
isbalancedoutbytheincreaseinCategoryBriders,
someofwhomgoontotakeoutaprofessionallicence.
RUNNERS BEFORE THE KINGDOM OF BAHRAIN SUN CHARIOT STAKES AT NEWMARKET.
47
INTEGRITY
PROFESSIONAL JOCKEYS
AMATEUR RIDERS
ALL RIDERS - PROFESSIONAL AND AMATEUR
Flatjockeys
A-Flatonly
2012
2012
2012
2011
2011
2011
123
56
125
58
120
49
136
29
133
41
139
30
94
104
110
189
99
119
97
218
97
97
101
176
2013
2013
2013
2015
2015
2015
129
51
122
55
137
28
126
55
95
94
106
173
93
107
100
217
2014
2014
2014
Apprenticejockeys
A-Jumponly
Jumpjockeys
A-Dualpurpose
Conditionaljockeys
Category A - Total
463454 457467 441Total
151
340
153
371
131
307
137
310
156
373
CategoryB
Total
803825 764777 814Total
TRAINERS
Flatonlylicences
20122011
4041 47
4946 51
468
557
119
494
581
136
461
559
101
2013 2015
41 47
52 52
465
558
112
452
551
34
2014
Jumponlylicences
Combinedlicences
Permitstotrain
All licensed trainers
676717 660670 585Total
Note:Thesefiguresarebasedontheaveragenumberofindividualslicensed/permittedbymonth,whichdifferslightlyfromthenumberoflicencesissued.
48
DISCIPLINARY PANEL CASES
*4peopleforunpaidtrainingfees;9forarrearstoracing.Ofthetotal13,7havesubsequentlypaid.**6upheld;5upheldinpart;15dismissed(ofthe15dismissed,11depositsreturnedand4forfeited).***Includingpoint-to-point.Note:NotallinvestigationsgotoComplianceorbecomedisciplinarycases.Somecasesarefinalisedbywarnings
togetherwitheducationaladvice,someinvestigationsareameansofassessingaperson’ssuitabilitytobelicensedorregisteredandsomeinvestigationsareclosedafterenquirieswithnocasetoanswerorunfoundedallegations–thisoccurredinanumberofreportedwelfarecases.
Exclusionorderbythedisciplinaryofficer(4indefinite,1until18October2016)
Appealsfromracecourse**
Total exclusions / disqualifications
Total
2015
5
26
26
96
3
37
5
7
2
13
26
Exclusionfollowingdisciplinaryhearing
Referralsfromracecourse
Disqualificationfollowingdisciplinaryhearings
Otherdisciplinarycases***
Appeal board
Disqualificationsfordebts/arrears*
Compliancecasesfromintegrity
INVESTIGATIONS
Intelligence 3,500
113
2015
3,126
102
2014
Investigationsopened
2015 Investigations
17%Bettingcorruption/Insideinformation
5%Allegationofcrime
15%Equinepositives
4%Jockeypositives
22%Equinewelfare/Veterinary
12%Licensing
24%Otherintegrityissues
1%Jockeymobilephonebreaches
49
INTEGRITY
ANTI-DOPING
Wecontinuetobeintelligence-ledinour
activities,includingourtestingprogramme,
andtheworkofourstableinspectingofficers
incompilingrelevantdatahasbeencrucialin
helpingustodothatevenmoreeffectively.
Wecarriedoutanextensiveprogramme
ofequineracedayandout-of-competition
testing,theresultsofwhichareshown
below.Webelievethisisanimportant
deterrentinouranti-dopingwork.
The14adverseanalyticalfindingswerefor
substancesprohibitedonraceday,ratherthan
substancesprohibitedatalltimes,i.e.those
therapeuticsubstancesthatcanbeused
legitimatelyintrainingbutarenotpermitted
tobeinthehorse’ssystemonraceday.
Whilewewillneverbecomplacent,the
figuresshowthatourextensivetesting
programmedidnotfindanyinstancesof
deliberatedopingin2015.
Note:Alladverseanalyticalfindings(post-race)forprohibitedonracedaysubstances.*Figuredoesnotincludeoneadverseanalyticalfinding(post-race)foraprohibitedonracedaysubstanceinapoint-to-pointsample.
EQUINE PRE- AND POST-RACE TESTING
EQUINE OUT-OF-COMPETITION TESTING
Numberofraces
Samplesanalysedinyards
Adverseanalyticalfindings(pre-race)
2015
2015
10,041
704
0
88,078
323
1,490
14
195
463
0
0.00%
0.00%
8,475
0.17%
Numberofrunners
Internationalrunnersandpermanentimports
Total
Adverseanalyticalfindings(post-race)*
Analysed(pre-race)
AnabolicsteroidtestingatpublicauctionsinBritain
AdverseAnalyticalFindings(Prohibitedatalltimes)
%AdverseAnalyticalFindings(Prohibitedatalltimes)
%Adverseanalyticalfindings(pre-race)
Analysed(post-race)
%Adverseanalyticalfindings(post-race)
50
Thenewequineanti-dopingrulesgive
usgreaterpowerstoaccessregistered
horsesfortestingpurposes,andmore
stringentpenaltiesforpeoplefoundto
haveadministeredprohibited-at-all-times
substances,andastand-downperiodfor
thehorseconcerned.
The Rules apply to:
Anabolicagents
Substancesnotapprovedforveterinaryuse
Peptidehormones,growthfactorsand
relatedsubstances
Hormoneandmetabolicmodulators
Manipulationofbloodandbloodcomponents
Bloodtransfusions
Geneticandcellularmanipulation
Oxygencarriers
Weworkedextensivelytorolloutthenew
rulesandaccompanyingguidance,andto
introduceassociatedinitiativessuchas
anti-dopingtestingatthesalesinBritainand
overseas,andtestingofinternationalrunners
andpermanentimports.Wewillcontinueto
workhardinthisareatoaddressbothcurrent
andemergingthreats,andtocontinueto
takealeadershiproleinternationally.Agood
exampleofcross-bordercollaborationisour
ground-breakingworkwithRacingVictoriain
relationtotheircobaltcases.
Wetested59internationalrunnerslast
year-33byregulatoryveterinariansintheir
homecountrypriortoarrivinginBritainand
26byourveterinarysurgeonsonarrival.In
addition,wetested264horsesforpermanent
importpurposes.Thisfigureexcludeshorses
sampledatKeenelandintheUSA,whichwere
countedasthepermanentimportsampleif
thehorsewasimportedwithin60days.
Incollaborationwiththesaleshouses,we
introducedanabolicsteroidtestingatpublic
auctionsinBritainfromAugust,testing463
horsessoldatmajorBritishsales.
59Internationalrunners
weretestedlastyear
463Horsessoldatpublic
auctioninBritaintested
foranabolicsteroids
51
INTEGRITY
Aracehorsemustnotbeadministeredany
substancethatisprohibitedatalltimes,including
anabolicsteroids,atanypointinitslife.
Anyhorseadministeredanysubstancethatis
prohibitedatalltimes,includinganabolicsteroids,
willfaceamandatorystanddownperiodfrom
trainingfor12monthsandwillbeineligibleto
startinanyraceinBritainfor14months.
Allhorsesmustbeavailablefortestingatanytime,
regardlessofphysicallocationandwhosecarethe
horseisunder,fromthetimeitisfirst
registeredwiththeGeneralStudBook.
TheResponsiblePersonwillbethetrainerwhile
thehorseisundertheircareorcontrolandthe
owneratallothertimes.Theownerofahorse
notyetintrainingshallbepresumedtobethe
breederofthehorseunlessprovenotherwise.
AllhorsesborninBritainmustberegisteredwith
Weatherbyswithin12monthsofbirth,andfrom2017,
withinsixmonthsofbirth.Permanentlyimported
horsesmustberegisteredwithWeatherbyswithin90
daysofarrivalinBritainaccompaniedbyasample
thatshowsnoevidenceofadministrationofanabolic
steroidsorothersubstancesprohibitedatalltimes.
Duetotheirlike-policies,horsesimportedfromIreland,
France,Germany,SwedenandHongKongwhichhave
spent12monthsundertheirequivalentpolicieswillbe
exemptfromthisrequirement.Likewise,runnersfrom
Ireland,France,Germany,SwedenandHongKong
willbetreatedasBritishrunnersandsampled
asperthestandardtestingpolicy.
AllotherforeignrunnersmustbeinBritain(andthe
BHAnotifiedoftheirwhereabouts)aminimumof10
businessdaysinadvanceoftheirintendedraceto
facilitatepost-arrivalsamplingandanalysis,theresults
ofwhichwillbereceivedpriortothehorserunning.If,
inexceptionalcircumstances,ahorseisnotabletobe
presentinBritain10businessdaysbeforeracingand
theBHAhasconsentedtoalatearrival,thenitmustbe
testedbeforebeingimported.Thesamplemustshowno
evidenceofadministrationofanabolicsteroidsorother
substancesbannedatalltimes.Whenthehorseruns,
itwillalsobesubjecttothestandardtestingpolicy.
Summary of the new anti-doping rules
52
INTEGRITY REVIEW
Thereviewfocusedonhowwecancontinuetodevelop
amodernandcontemporaryapproachtointegrity;
improveefficiency,consistency,andcommunication;
demonstrategreateropenness;andshowthatwearefair,
accountableandintunewithoursport'sparticipants.
Keyelementscoveredbythereviewincludedthetimeliness
ofinvestigations,casemanagementandprocessingof
applications;communication;participantengagement
andeducation;internalprocessesandperformance
monitoring;andtechnologicalthreatsandopportunities.
Overall,thereviewconfirmedthatagoodlevelofintegrity
existswithinBritishhorseracing.Italsoidentifiedaneed
fortheBHAtoreviewitsdisciplinarystructureandto
furtherimprovesomeaspectsofoperationaldelivery
inordertomaintainandincreasetheeffectiveness
ofitsintegrityfunctionandconfidenceinit.
Integrity recommendations:
1.Theestablishmentofastakeholderintegrityforumto
actasanadvisorygroup,formingaunitedfronttohelpkeep
corruptionoutofhorseracing.Membershipwillinclude
licensedpersonnelandotherfigureswhohaveexpertise
andinsightintothisarea.TheywillalsoholdtheBHAto
accountontheimplementationoftheserecommendations.
2. Improvementstobemadetotheinvestigation,case
managementanddisciplinaryprocess,includingproviding
aformalinvestigationchartertoeveryoneinvolvedin
aninvestigation,attheoutset,whichwillclearlysetout
theirrightsandobligationsandwhattheycanexpect
fromtheprocess,aswellasacodeofconduct.
Wewillalsodevelopafast-trackprocesstodeal
withminororadmittedoffencesoutsidethefull
disciplinaryprocess,withformalcautionsand
agreedsanctions.Alsoitwillcarryoutareviewof
thelevelofpenaltiesforminorrulebreaches.
3. Formalisinganewintegritystrategywhichhas
atitscoretheobjectivetodomoretoeducateand
protecttheoverwhelmingmajorityofparticipants
whocomplyoraretryingtocomplywiththerules.
4. Workingcloselywithstakeholderstoreview
thestructure,compositionandprocessesof
theDisciplinaryPanel,LicensingCommittee
andAppealBoardtomakesurethatthesport’s
participantshavefullconfidenceinthem.
5.Lookatwhatimprovementscanbemadetothe
wayinwhichthemedia,racingandbettingpublic
andthesport’sparticipantsareinformedonwhatthe
BHAaredoingtoprotecttheintegrityofthesport.
6.Extendourpartnershipswithotherorganisations
acrossthebettingindustry,otherracing
jurisdictions,othersportsandregulatorsin
ordertoincreaseouraccesstointelligence.
DuringtheyearwecarriedoutanIntegrityReview,asubstantial
pieceofworkinwhichweconsultedwithmorethan100individuals
fromracingandthebettingpublic,andsubjectedourfindingsto
robust,externalchallengebyapanelofleadingexpertsfrom
thefieldsofsport,regulationandalsoourownindustry.
53
INTEGRITY
54
LOOKING AFTEROUR PEOPLE
55
INDUSTRY PEOPLE AND DEVELOPMENT
INDUSTRY PEOPLE AND DEVELOPMENT
Werecognisethatthepeoplewithinracingarecriticaltotheongoing
successofthesportandwearecommittedtosupportingtheirneeds
andalsothecommunitieswithinwhichtheyoperate.
Asportasdiverseandextensive
asoursrequiresahighly-skilled
workforceandonewithopportunities
forfurthertrainingandprogression.
Whilefocusingongrowthandexpansion
opportunitiesforourparticipants,itisalso
importantthatwehelpsupportthewelfare
requirementsofallparticipantsandprovide
cross-industrysupport,whileencouraging
newpeopleintotheindustry.
Our work in this area includes:
ImplementingandoverseeingRacing
Together,thesport’scommunity
engagementprogramme,anditsvisionof
beingaforceforgoodinlocalcommunities
Workingwithvariouswelfarecharities
toensurethewelfarerequirements
ofallracing'sparticipants,including
studandstablestaff,jockeysand
trainers,aretakencareof
Managementoftraining, development
and career progressionforjockeys,
studandstablestaff
Runningthesport’spremieremployment
hub,careersinracing.com
During2015wewereinvolvedwith,and
ledanumberofsignificantprojectswhich
continuetofosteranddevelopourpeople
andcelebratetheexcellentworkofracing
withinthecommunity.
Education
Educationisacornerstoneofourcommunity
engagement,butalsoourworktofoster
talentandinterestinthesport.
WithfundingfromtheHorserace
BettingLevyBoard(HBLB)weincreased
engagementwithequinecollegestudentsby
deliveringcareerslectures,reachingmore
than500studentslastyear.Wealsoformed
partnershipsandundertooksponsorship
activitywiththePonyRacingAuthority
andThePonyClubandcareersadvice
programmessuchas‘Notgoingtouni’.
Training and Development
Training,developmentandcareerprogression
forjockeys,studandstablestaffisatthe
heartofourvocationalandjockeytraining
strategies.Atthesametime,maintaininga
workforceofpotentialandsuitablecandidates
intotheracingindustryremainsasignificant
challenge,especiallywhenpromotingcareers
toyoungpeopleofschoolage.
500Studentsreached
throughourcareer
lectures
56
As part of our ongoing commitment to
maintaining and growing the industry’s
workforce, we have:
Continuedrefinementofthecareersinracing
website,whichprovidesanongoingpipeline
ofpotentiallysuitablecandidates,attractinga
newworkforceandaidingcareerdevelopment.
Therewere342,000visitstocareersinracing.
comin2015,ariseof16percenton2014.
Launchedatrialofemployer-ledtrainingin
2015,withaminimumof20placesavailable
in2016.ThisProgrammeisagatewayforover
19stoentertheindustrywhoarenolonger
eligibleforgovernmentfundingorthroughthe
ApprenticeScheme.
UndertakenstrategicworkwithEquine
Colleges,thePonyRacingAuthorityand
PonyClubstoengageyoungpeoplewith
aninterestinhorses.
Expandedtheintegratedmarketing
planunderthecareersinracingbrand,
withinitiativessupportedbyand
developedwithstakeholders.
EnhancedJockeytraininganddevelopment
throughtheintroductionofpersonal
developmentplanningforapprenticeand
conditionaljockeys,aligningthemwithother
professionalsportsmenandwomen.
Reviewedracing’swell-established
andinternationally-recognisedtraining
programmes,whichledtocurriculum
review,increasedaccesspointsfornew
entrantsandcollaborativetraininginitiatives,
withfurtherexpansionplannedin2016.
Ensuredthatmorethan1,000individualswere
abletoaccessindustry-specifictrainingin
2015withalmost800registeringforracing-
relatedqualifications.
WealsoworkedwiththeHBLBandthe
UniversityofLiverpooltocreateanewMBA
qualificationdesignedforindividualswishingto
developtheircareerintheindustry.Thecourse
isthefirstofitskindinracingandcombines
themodulesofaworldclassMBAwiththe
specialistneedsoftheBritishandglobal
horseracingindustry.
Thecoreelementsoftheprogramme
includeleadership,strategy,managingthe
environment,innovation,entrepreneurship
andmanagingfinancialresources.Each
candidatewillalsogainunderstandingof
managementofracecoursesandtraining
centres,marketing,advertising,sponsorship,
bloodstockmanagementandveterinaryissues.
Thecourseoffersvocationaltrainingthrough
industryplacementsandvisitstoracecourses,
studs,trainingfacilities,mediacompaniesand
companiesinthebettingindustry.
Welfare
Theday-to-daywelfareofallofracing’s
participantsisofparamountimportanceto
us.Aspartofourcommitmenttoourpeople
–includingstudandstablestaff,jockeys
andtrainers–duringtheyear,werecruited
aWelfareDevelopmentManagertoprovide
coordinationandstrategicoversightofwelfare
initiatives,creatinganenablinglinkbetween
theBHAandtheorganisationsthatprovide
welfareservicestotheracingworkforce.
Furtherkeydevelopmentsin2015included
majorenhancementstoinjuryrehabilitation
andoccupationalwelfareservices,anongoing
reviewofinsuranceandemployeebenefits,
andaRacingFoundationpledgeof£1million
tofundfurtherwelfareinitiativesuntil2017.
Ontopofthis,wesecuredafurther£1million
offundingfromtheRacingFoundationfor
aPeopleDevelopmentPlanforRacing's
Workforcewhichwillincludeenhancedcareers
marketing,careersadviceandtrainingservice,
personaldevelopmentplanningforjockeysand
accessiblelearningforstudandstablestaff.
£1million
SizeofRacing
Foundationpledgeto
fundwelfareinitiatives
57
INDUSTRY PEOPLE AND DEVELOPMENT
Tickets for Troops
WehaveworkedwithTicketsforTroopssince2010byarranging
freeadmissiontoracingforservicemenandwomenthanksto
thegenerosityofBritain’sracecourses.
In2015,7,738 tickets were used by members of Tickets for Troops
providingservicemenandwomentheopportunitytoenjoyafree
raceday,includingtosomeofthesport’spremierracingevents.
TicketsforTroopsisacharitythatsupportstheworkofserving
militarypersonnelandveteranswhohavebeenmedically
dischargedfromtheForcessince2001,byofferingticketsto
someofBritaintopsportingandentertainmentevents.
Community engagement
ThroughRacingTogether,weseektogive
somethingbacktothecommunitiesinwhich
racingoperatesandensurewearedelivering
onourobjectiveofbuildingaprosperous
futureforoursport.
In2015wepartneredwithActive
CommunitiesNetwork,anationwidegroup
empoweringyoungpeopleatriskandoutof
workoreducation,toengagewithnewareas
previouslyuntouchedbyracing,includingthe
provisionofsports-basedsocialdevelopment
programmesandemploymentpathways
basedonkeygeographichubs.
Wewerealsoinvolvedwithatwoyearpilot
programmeinwhichAintreebecamethefirst
BeaconRacecourse,aprojectwhichaimsto
buildstrongerrelationshipswithlocalchildren
andtheircommunitiesthroughinitiatives
whichincludeeducationalschemes,hands-on
ponydaysandworkexperienceopportunities.
Racingbenefitsfromahugeamountofvolunteer
work.Toacknowledgethisandtogivesomething
backtothecommunity,racingdonatedupto
300hoursofvolunteertimeacrossthecountry
aspartofthenationwideGiveandGainDay.
“OurvisionforBritishracingisquitesimplyto
beseenasaforceforgoodandrecognisedas
outstandingamongsportsforourcontribution
tothecommunitiesinwhichweoperate.”
Sean O’Connor, RacingTogether’s
CommunityEngagementManager
RacingTogetherisaninitiativedesignedtoenhanceand
coordinateracing’scommunityengagement.Weleadand
implementtheprogrammewhichisdefinedbyfourpillars,
being:racing,educationoutreach,locallifeandhelpingothers.
58
REPRESENTINGOUR SPORT
59
COMMUNICATIONS AND CORPORATE AFFAIRS
COMMUNICATIONS AND CORPORATE AFFAIRS
Aspartofourcommitmenttogrowingoursport,werepresentand
advocateonbehalfofthewholeindustrytoGovernmentandexternal
organisationsinordertoensurethatBritishracing–amajorsport
andsignificantemployerintheBritishruraleconomy–cangrow.
2015wasapivotalyearforBritishracingwith
regardstoitspoliticalengagement–with
Governmentcommittingtotheintroduction
ofareplacementfundingmechanismforthe
HorseraceBettingLevyintheMarchBudget.
Weco-ordinateddevelopmentofacross-
industryresponse,andassociatedgrassroots
representationstoMPsandtheDepartment
forCulture,MediaandSport(DCMS),
duringtheconsultationontheproposed
HorseraceBettingRight,andsecuredthe
supportofallmajorpoliticalpartiesin
Westminsterbehinditsintroduction.
The2015GeneralElection,withthe
ConservativeParty'smajorityvictoryandthe
gainsoftheScottishNationalParty,brought
significantchangestoBritain'spolitical
map.Thisalsohadamajorimpactonracing
withaquarterofBritishracecourseshaving
newconstituencyMPsfollowingthevote.
Weledasignificantprogrammeofengagement
withnewandreturningMPsacrossthesport’s
substantialconstituencyfootprintintheweeks
aftertheGeneralElection,aimingtomaintain
cross-partysupportfortheindustry.This
helpedsecureafurthercommitmentfrom
theChancellorinhispost-electionBudget
tointroduceaHorseraceBettingRight.
Aside from the key issue of the funding of
the sport, further highlights of 2015 include:
ParticipationinaJuly2015Europeanand
MediterraneanHorseracingFederation
delegationtoBrussels,meetingwith
EuropeanCommissionOfficialsand
MembersofEuropeanParliament
ANovember2015Parliamentaryreception
–attendedbyrepresentativesfromacross
Britishracingandthemajorpoliticalparties
inWestminster–andotherParliamentary
briefingsandeventsthroughouttheyear
Co-ordinatingsubmissionsonbehalfof
thesporttoanumberofGovernmentand
Parliamentaryconsultationsincluding
gamblingpolicy,apprenticeships,
thesecondaryticketingmarket,
BBCCharterrenewal,DCMSsport
strategyandgreyhoundwelfare
Assistingtrainersandracecoursesinlocal
politicalengagementandrepresentationsto
planningauthoritiesonavarietyofissues
60
“ British racing is a massive success story and I wanted to come
and see and hear about it for myself. It’s an industry worth over
£3 billion, employs well over 100,000 people. It’s now the second
most popular sport – racing – after football in our country.
This is a success story… and we want to make sure it’s continued.”
Prime Minister, Rt. Hon David Cameron MP, Newmarket Heath – February 2015
61
COMMUNICATIONS AND CORPORATE AFFAIRS
Horserace Betting Right
Inthe2015Budget,theGovernment
confirmeditscommitmenttointroducea
HorseraceBettingRightwhichwouldresult
inafairreturntoracingfromallbetting
operatorsontheiroffshoreandremote
activity,activitywhichcurrentlyfallsoutside
thescopeofthecurrentLevysystem.
Weledracing’sengagementwithGovernment
andParliamentarians,withtheactivesupport
andinvolvementoftheRCAandHorsemen’s
Group.Therehasbeenregularcontactsince
October,includingaParliamentaryreception
heldbyracinginNovember.
TheGovernmenthasrecentlyannounced
itsintentiontointroduceaLevyreplacement
byApril2017.
Inpartnership,wewillcontinuetorepresent
theimportanceofthereplacementbeing
introducedassoonaspossibleandworkwith
Governmentonthedetailofthenewsystem.
Godolphin Stud and Stable Staff Awards
WeruntheGodolphinStudandStableStaff
Awardsannuallywithsupportfromthe
RacingPostandthankstothegenerous
sponsorshipofGodolphin.
Theawardsceremonyhasbecomean
increasinglyprestigiouseventwhich
reflectstheimportanceofourstudand
stablestaff,whomakeupthebackbone
ofourindustryandplayaninvaluablerole
incaringforourequineathletes.
EstablishedinBritainin2005,theawards
havegonefromstrengthtostrengthand
havesincebeenrolledoutinIreland,
AustraliaandrecentlyAmerica.
JessicaFortt,StudManagerforDunraven
Stud,wasnamedEmployeeoftheYear2015
andwasawardedwiththeperpetualGodolphin
TrophybypresenterClareBaldingandspecial
guestpresenterandthree-timeChampionFlat
JockeyRyanMoore.Jessicawaspresented
withachequefor£30,000forbeingnamed
EmployeeoftheYear,withthemoneytobesplit
equallybetweenJessicaandDunravenStud,
plusafurther£10,000,againsplitequally,for
winningtheStudStaffAward.
The 2015 Godolphin Stud and Stable Staff
winners were:
Employee Of The Year:JessicaFortt,
StudManager–DunravenStud
Rider/Groom Award: SimonArcher,
Groom–SirMarkPrescott
Stud Staff Award:JessicaFortt
Leadership Award:JohnsonWhite,
AssistantTrainer–PhilipHobbs
Dedication To Racing Award:LesleyWhite,
TravellingHeadLass–MickChannon
David Nicholson Newcomer Award:
TeganClark,HeadLad–OllyStevens
Administration Staff Award:PeterShoemark,
RacingOfficeManager–JohnGosden
JESSICA FORTT BEING PRESENTED WITH A CHEQUE BY
RYAN MOORE AND CLARE BALDING AFTER BEING NAMED THE
GODOLPHIN STUD AND STABLE STAFF EMPLOYEE OF THE YEAR.
62
UNDERSTANDING THE AUTHORISED BETTING PARTNER SCHEME
CASE STUDY
Why ABP?
Britishracing,actingthroughthe
Members’Committee,announcedthe
ABPschemeinOctober2015inorderto
addresssignificantfallsinLevyfunding,
andtoachievealevelofcertaintyasto
thefuturefundingofBritishracing.
WhilsttheGovernmenthascommitted
toreplacingtheLevymechanismby
April2017,ABPcontributionsarevitalto
deliveringinterimfundingtooursport.
UnderthecurrentLevyarrangements,
bettingoperatorspayapercentageoftheir
grossrevenuesonBritishracinggenerated
fromonshorebusiness-largelybricksand
mortar,asmostonlinebettingisoffshore.
Thispaymentsupportsmanyareasofracing,
includingprizemoney,integrityandveterinary
research.Inrecentyearstherehasbeena
significantshiftinconsumerbehaviourwith
about50percentofbettingactivityonBritish
racingnowtakingplacethroughremote
channelssuchastelephone,mobileandthe
internet.Asbettingoperatorshavemoved
theirremotebusinessesoffshore,theincome
thatBritishracingreceivedfromtheLevyhas
fallensignificantly.Ifnoactionwastaken,we
estimatedtheamountofmoneythatBritish
racingreceivedfromtheLevywouldfallfrom
itspreviouspeakofmorethan£100million
(in2008)tolessthan£50millionby2017.
TheaimoftheABPschemeistoachievealevel
ofcertaintyastothefuturefundingofBritish
racing,whichwillenablethesporttodelivera
stableandvaluablebettingproductalongside
itsotherstrategicobjectives,forthebenefitof
boththebettingandracingindustries.
If realised, the anticipated fall in Levy
income will have a significant negative
impact on the following areas:
Prizemoney,forthebenefitofall
participantsincludingowners,trainers,
jockeysandstablestaff
Fixturefundingandincentives
Regulationandintegrity
FinancialsupportforBritishracing
Veterinaryscienceandeducation
Industryeducationandtraining
Britishracing’sAuthorisedBettingPartner(ABP)isavoluntary
schemethataimstorewardbettingoperatorswhocommitto
makingacontributionontheirbettingactivitytofundBritishracing.
Inrecognitionoftheirsupport,bettingoperatorsareabletouse
theABPlogoandbecomeeligibleforanyadditionalbenefitsthat
supportersoftheschemechoosetooffertoABPs.
63
COMMUNICATIONS AND CORPORATE AFFAIRS
UndertheABPinitiative,Britishracingaims
topartlyaddresstheforecastLevyshortfall,
protectingtheseareasandencouraging
investmentacrossthesport.Itis,however,
aninteriminitiativeonly,withthevoluntary
paymentsachievingratesthatwouldnotbe
sustainableinthelongerterm.
Who can become an ABP?
Allbettingoperators(bothonshore
andoffshore)whoacceptbetsonBritish
racingfromUKcustomersareableto
qualifyforABPstatus.
How can a betting operator become an ABP?
Offshoreremotebettingoperatorscan
becomeanABPofBritishracingifthey
agreetopayafairandproportionate
contributiontoBritishracing.
Onshorebettingoperatorscanbecomean
ABPiftheyconfirmtoBritishracingthatthey
payLevyonallBritishhorseracingbusiness
andagreetopaythecontributionrates
setoutintheratecardiftheymovetheir
businessoffshorebeforeMarch2019,until
theendoftheABPterm.
What do ABPs contribute to British racing?
FromApril2016,ABPshaveagreed
tomakeafairandproportionate
contributiontoBritishracing.
ABPs’commitmentstoBritishracing
spanthreeyearsandtheypaytheir
contributionsquarterlyinarrearsto
theHorseraceBettingLevyBoard.
How does the industry support ABP?
SupportersofABP,includingracecourses,
may,actingindependently,andattheir
absolutediscretion,negotiatewiththose
bettingoperatorswhichhavesatisfiedthe
ABPqualifyingcriteriaonapreferential
basis.TheindividualABParrangements
putinplacebetweeneachABPand
relevantcommercialentityisamatter
forindividual,bilateralnegotiation.
The individual ABP arrangements
for supportive racecourses may
include the following:
Sponsorshipandcommercialmarketing
rightsatracecourses
Accesstoon-coursewifiservices
Co-operativemarketingtosupportABPs
Preferentialpricingstructurewithmedia
rightsholdersforABPs
UseofinternalassetstopromoteABPs
Find out more
BritishracinghasadedicatedABPwebpage
whichmaybeviewedat:
http://www.britishhorseracing.com/bha/
authorised-betting-partners/
ABPs OF BRITISH
RACING AS AT
12.04.2016
64
THE HORSE COMES FIRST
CASE STUDY
TheHorseComesFirstaimstoincreaseawarenessofthehigh
standardsofequinewelfareinBritishracing.Theinitiativeis
helpingimprovetheunderstandingofthecaregiventoour
horsesthroughoutandaftertheircareersinracing.
Thecampaignisfinanciallysupported
andendorsedbyabroadcross-sectionof
Britishracing'srepresentativebodies.
Did you know?
Amongapopulationestimatedtobearound
1million,racehorsesinBritainareamong
thehealthiestandbestlookedaftertwo
percentofhorsesinthecountry
Thesportemploysover6,000peopleto
provideconstantcareandattentionfor
the14,000horsesintraining,providing
themwithalevelofcareandaquality
oflifethatisvirtuallyunsurpassedby
anyotherdomesticatedanimal
Britishracingiscommittedtoproviding
thebestpossiblestandardsofveterinary
careforitshorsesandhasinvested,via
theHBLB,over£32millionsince2000
inveterinaryresearchandeducation
Britishracingisopenandtransparentabout
therisksinvolved.Overthelast20years,the
equinefatalityrateinBritishracinghasfallen
byonethird(from0.3percentto0.2percent
ofrunners).2015sawthelowestfatalityrate
onrecordat0.18percentofallrunners.
TheHorseComesFirstcampaignundertakes
ayear-roundprogrammeofactivityatracing
andwiderindustryeventstopromotethe
highstandardsofequinewelfareinthe
sport,withyear-roundonlinecontent
forthoseinterestedinfindingoutmore
providedatthededicatedcampaign
microsite,www.thehorsecomesfirst.com.
Ahighlightof2015’sactivitywasTheHorse
ComesFirstRacedaysacrossNewmarket,
NottinghamandNewcastleracecourseson
25June,withhorsewelfare-themedcontent
ateachracecourse.Thisincludeda‘painted
horse’demonstrationtomorethan150
localschoolchildrenatNewmarket,with
equinevetsexplaininghowathoroughbred
racehorse’sorgansoperatetoprovidethe
powerforittorunatspeedoversustained
distances,andaPrince’sTrustbehindthe
scenestourofthestablesatNottingham.
65
COMMUNICATIONS AND CORPORATE AFFAIRS
RETRAINING OF RACEHORSES
CASE STUDY
RetrainingofRacehorses(RoR)isBritishracing’sofficialcharity
forthewelfareofhorseswhohaveretiredfromracing.
TheBHAprovidesadministrativesupportto
thecharity,financialmanagementsupportand
companysecretarialservicesandlegaladvice.
The charity:
Raisesfundsfromwithintheracing
industryfortheretrainingand
rehomingofformerracehorses
Providesasafetynetforvulnerable
formerracehorses
Promotestheadaptabilityandversatility
ofracehorsestootherequestrianactivities
Runsandfundsawell-established
programmeofcompetitionsandeducational
eventsacrossthecountry
Providesinformationforownersandtrainers
inboththeracingandequineindustriesto
assistwiththerehomingandretrainingof
theirformerracehorses
2015 was a progressive year for RoR,
with highlights including:
Registeredthe11,000thhorse
tothecharityinOctober
AppointmentofleadingjockeysRichard
JohnsonandFrankieDettoriasRoR
Ambassadors.Thetwojockeyshavefirst-
handexperienceofrehomingformer
racehorses,includinghorsesthatplayed
apivotalroleintheirrespectivecareers
StagedtheRoRAwards,hosted
byClareBaldingOBE
HeldtheinauguralRoRNational
ChampionshipShowexclusivelyforformer
racehorsesattheAintreeEquestrianCentre,
withtheshowattracting464entries
Heldapublicauctionaimed
specificallyathorsesleavingracing
inconjunctionwithBrightwells
ReleasedtheICanChangefilmwhich
canbeviewedatwww.ror.org.uk
DENMAN LEADING THE ROR
PARADE AT CHELTENHAM
66
GREAT BRITISH RACING
RacingEnterprisesLimited(REL)isasubsidiaryoftheBHA,
ownedandoperatedasajointcommercialventurebetweenthe
Horsemen'sGroupandBritain’sracecourses.Itsleadingroleis
thepromotionandmarketingofBritishhorseracing.
RELhasanoperatingbudgetof£1.8
millionperannumderivedfromthesale
ofPre-RaceDatarightsrevenuecurrently
contractedwiththeRacecourseData
Companyforatermoffiveyears.
RELisa13.9percentequitystakeholderin
BritishChampionsSeriesLimited.
RELalsocontributesfinanciallytowards
GreatBritishRacingInternational(GBRI),
whichwassetuptofacilitateandgrow
internationalinvestmentintotheBritish
racingandbreedingindustries.Itprovidesa
bespokeserviceforthoseseekingtoinvest
inthehighestlevelsofthoroughbredracing
inBritain,aswellasmarketingBritish
racingtoawiderinternationalaudience.
REL’soperatingarm,GBR,isthesport’s
centralmarketingandpublicrelations
organisation,whoseaimistobroadenthe
appealandraisetheprofileofBritishracing.
EachofGBR’sobjectivesisconnectedtothe
overarchingaimofgrowingthenumberof
peoplewhoengagewithhorseracing,
whilsthelpingtogrowthesport’s
commercialrevenues–whichshould
benefitallparticipants.
GBR objectives:
Growracing’saudiencesandfan
engagement(attendances,viewing,betting)
Attractnewandretainexistingowners
withinBritain
Supportracing’sexploitationofits
commercialvaluesandsponsorship
opportunitiesviawiderindustryinitiatives
SupportracecoursesandtheRCAinthe
developmentofconsistentlygoodcustomer
experiencesacrossracing
2015 highlights
SirAnthonyMcCoy’sannouncementofhis
retirementinFebruary2015,providedracing
withthechancetocelebratealivinglegend.
GBRco-ordinatedallnationalpublicrelations
activity,includingsocialanddigitalmedia
campaigns.Bythedayofhisretirementon25
April,the#ThanksAPhashtaghadachieved
80milliontimelinedeliveries,reachingover
23millionTwitterusers,wasthenumberone
trendinBritainandtheracedayatSandown
wasasell-out.Thisdemonstratesthebenefit
ofaco-ordinatedapproachtoracing’smajor
publicrelationsstories.
ThelaunchofthenewStobartFlatJockeys’
Championshipenabledthesporttopromote
itsstarsinamoredynamicway.Thegiant
23mTwitterusersreached
bythehashtag
#ThanksAP
1mViewsofFrankieDettori
'DayintheLife'videoin
firstweek
67
GREAT BRITISH RACING
jockeysontheStobarttrailersprovideda
permanentandpowerfuladvertisement
forthesportonthenation’smotorways
throughoutthesummer.
Theyearmarkedsignificantgrowthin
socialanddigitalmedia,withGBR'suseof
thesemediumsenablingthesporttoreach
existingandnewfansininterestingand
relevantformats.Videocontentledtheway
inengagingaudiencesandthemostpopular
pieceoffilmin2015wastheFrankieDettori
‘DayintheLife’video,whichwasvieweda
milliontimeswithinaweekofitsrelease.
GBRalsoledanauditoftheracecourses’
socialanddigitalmediacapabilitieswhich
focusedonhowracingcouldreachmore
people,spenditsmarketingbudgets
effectivelyandleverageitsplatformsto
makemoreofourbigmoments.
Thepromotionofracing’sbiggestoccasions
remainsaneffectivewaytosecureeditorial
spaceinprint,broadcastanddigitalmedia.
ByleadingwithQIPCOBritishChampions
Seriestohighlightthefinestmomentson
theflat,orbydevelopingcontentaround
jumpsracingviatheCheltenhamFestival
andCrabbie’sGrandNational,GBRwasable
tocomplementtheexcellentworkofthe
racecoursesandmaximiseexposure.
OnadailybasisGBRcontinuedtoreactto
newsopportunitiesbigandsmall.Asan
example,GBRistheorganiserofthedaily
Talksportinterviews,arranginginterviews
withhorsemengivingracingapermanent
presenceduringaprime-timeslot.
GBR,inconjunctionwiththeRCA,alsoled
racing'sbiggesteverpieceofconsumer
researchin2015,entitledInsight=Growth.A
summaryoftheprojectcanbedownloaded
fromthemediasectionoftheGreatBritish
Racingwebsite,www.greatbritishracing.com
TV PRESENTER AND PERSONALITY DERMOT O'LEARY
GETS INVOLVED WITH THE #THANKSAP CAMPAIGN.
A DAY IN THE LIFE OF FRANKIE DETTORI.
WATCH THE VIDEO AT WWW.BRITISHCHAMPIONSSERIES.COM
68
Looking ahead
2016willbeaboutstrengtheningthis
integratedapproachtopublicrelationsand
marketingandfurtherrefinementofGBR’s
activity.WherepossibleGBRwillmeasure
thesuccessofitscampaignsandshare
bestpracticewiththeindustry.
GBRwillcontinuetoactasthevehiclefor
trialandinnovation(JockeyCamandlive
televisedstewards’enquirieswereinitially
trialledbyGBR)andbestpractice,suchas
theInsight=Growthprojectandsocialand
digitalmediaaudit.
In terms of specific areas of focus:
Digital growth
GBR’sandracing’sdigitalchannelsoffer
sizeableopportunitiestoreachmorepeople
withdiversecontent.Thesportismaking
greatprogressinthisspherebutthe
potentialisgreater.Withsocialmediaand
videodominatingthewaysinwhichpeople
communicateandconsumeinformation,this
willcontinuetobeanareaoffocusaswill
videocontent.63percent(24million)of
Facebook’s38millionBritishusershave
expressedaninterestinsportandGBR
wantsthatsporttobehorseracing.
Ownership – national campaign
Anationalcampaigntopromotethethrill
ofownershipthroughclubsorsyndicates
andfurtherdevelopmentoftheownership
informationwebsite.Thissupportsthe
broaderIndustryStrategyownershippillar.
Come Racing – national campaign
Basedontherecentconsumerinsight,GBR
willactupontheopportunityprovidedby
reachingaproportionofthe34millionpeople
awareofbutnotcurrentlyconsideringracing,
withanationalcampaignoverthesummer.
Under 18s/Kids Go Free – national campaign
Unlikethemajorityofotherleadingsports,
mostracecoursesofferfreeadmissionto
Under18s,whichisapowerfultooltoengage
withtheyoungergenerationandmakesaday
attheracesgreatvalueforfamilies.
Championships
Racing’sflat,jumpandallweatherjockeys',
trainers'andowners’championshipsprovide
thebasisformanystorylines.Acrossall
sports,peopleareinterestedinthebest.
GBR'simproved,better-structuredand
sponsoredformatsprovidethechancetodo
moretopromotethestarsofracing.
British Champions Series
BritishChampionsSerieswillcontinuetobe
animportantvehicletodrivewideraudience
engagementthroughpromotingthepremier
flatracingseasonhighlights.
Natural racing highlights
GBRwillcontinuetomaximisemajorpublic
relationsopportunitiesastheyariseand
co-ordinateactivitytogeneratewider
exposureforthesport.
Her Majesty’s 90th Birthday celebrations
Thisimportantoccasionprovidesnumerous
opportunitiestoengagewiththepublic
throughHMTheQueen’sdeepconnection
withhorseracing.
Insight = Growth
GBRwillcontinuetoworkwiththeRCAin
ensuringinsightinformsourcommunication
andsalesstrategy.
69
GREAT BRITISH RACING
#ThanksAP
70
MANAGINGRACING'SOPERATIONS
71
BHA ADMINISTRATION
BHA ADMINISTRATION
OuradministrationfunctionoverseesandenablesBHA's
operationsandcomprisesfinance,officeservices,ITand
programmemanagement.
Financial management
Ourfinancialstrategyistobreakeven
overthemediumtermandinthemain,
weareachievingthisobjective.Having
madeasurplusin2012and2013,wetook
theopportunitytosupportthesport’s
participantsbyholdingfeesin2014
whiledeliveringsignificantincreasesin
activity.Thesetwofactorscombinedmeant
wemadeafinanciallossof£1.36millionand
hadacashoutflowof£2.25million,equalto
thecashinflowbetween2010and2013.
In2015,webudgetedafinancialdeficitof
£0.14mandcashoutflowof£0.46million
inordertodeliverincreasedoutputasthe
BHAtookaleadingroleinthesport’swider
industrystrategy.Howevertofundthis
growth,feesonparticipantswereincreased
forthefirsttimesincethebeginningof2012.
Operatingafinancially-viablebudget
remainsoneofourkeyobjectives,and
throughcarefulfinancialmanagement
andthedeliveryofefficienciesacrossthe
business,weachievedthisin2015.
Adetailedfinancialsummaryappears
earlierwithintheStrategicReportfrompage
14to23,andauditedaccountswithinthe
FinancialStatementsfrompage105to138.
Projects and programme management
Ourprogrammeofficetracksandsupports
projectsandprogrammes,allofwhichare
sharplyfocusedonmeetingourninekey
strategicgoals.Withastrictbudgetand
limitedresource,theworktomeetthese
goalsmustbecarefullyplanned,managed
andprioritised.
Projectsaredeliveredbyourinternal
developmentteamusingamodernand
innovativeapproachtosoftwaredevelopment
andprocessdesign.
OurITandprogrammeteamsaimtoprovide
theorganisationwithsolutionsthatwill
providemaximumvaluenowandinthefuture.
Asignificantareahasbeenthedelivery,
withWeatherbys,ofanew,upgradedset
ofsystemsforracingadministration.This
programmeofdevelopmentwork,duetobe
fullydeliveredbytheendof2016,willprovide
anewracingadministrationwebsite,anew
facilityforonlinemanagementofowner's
accountsandfullyautomatedonlineowner
registration.Ourfinancialcommitmentto
thisprogrammeis£0.8millionover2015and
2016aswellassupplyingdedicatedproject
managementresource.
£800,000Commitmentto
upgradingracing
administrationsite
72
EFFECTIVE CORPORATE GOVERNANCE
73
DIRECTORS’ REPORT AND GOVERNANCE STATEMENT
DIRECTORS’ REPORT AND GOVERNANCE STATEMENT
Examples of the Board’s corporate
governance include:
AseparateChairmanandChiefExecutive
Laiddownprocedures
NominationsandRemuneration
Committees
AnAuditCommittee
Theuseofclearlydefinedauthorities
forallexpenditure
Adherencetotheprinciplesofbetter
regulationandregularindependent
scrutinyofcompliance
Formalconsultationprocesseswith
stakeholdersonallmattersofregulation
andgovernance
Adirectors’codeofpracticeadopted
bytheBoard
RegularmonitoringbytheBoard
ofdirectors
Inparticular,thedirectorshavedeveloped
andmaintainedaneffectivesystemofinternal
controloverthefinancialmanagementof
theGroup,toprovidereasonableassurance
thatitsassetsaresafeguardedandthat
properaccountingrecordsarekept.The
systems,whicharekeptunderreview,include
comprehensivebudgetingsystemswithan
annualbudgetapprovedbytheBoardand
theregularconsiderationofactualresults
comparedwithbudgetsandforecasts.
Members
The members of the Company are:
RCA
ROA
TBA
LicensedPersonnelMembers
*TheGroupcomprises:
BritishHorseracingAuthorityLimited,
RacingEnterprisesLimited(REL)andBritish
HorseracingDatabaseLimited(BHD).BHDis
responsibleforthemaintenanceandlicensing
oftheracingadministrationdatabase.
AlthoughneithertheGroup*northeBHAarelisted,thedirectors,
mindfulofBHA’spositionasthegoverningandregulatorybody
forhorseracinginBritain,havesoughttocomplyinallmaterial
respectswiththeapplicableprinciplesofgoodcorporate
governance,havingregardtothenatureoftheBoard’sactivities
anditsconstitution.
12Numberofboard
members
74
BACK, L-R: JULIE HARRINGTON, JOE SAUMAREZ SMITH,
RUPERT ARNOLD, SIR PAUL STEPHENSON, NICK RUST,
EAMONN WILMOTT, ATHOLL DUNCAN, ANDREW MERRIAM.
BACK, L-R: JULIE HARRINGTON, JOE SAUMAREZ SMITH, RUPERT ARNOLD, SIR PAUL STEPHENSON,
NICK RUST, EAMONN WILMOTT, ATHOLL DUNCAN, ANDREW MERRIAM. FRONT, L-R: LAURA WHYTE,
STEVE HARMAN, NÖEL HARWERTH, VIVIEN KYLES.
75
DIRECTORS’ REPORT AND GOVERNANCE STATEMENT
FRONT, L-R: LAURA WHYTE, STEVE HARMAN,
NOEL HARWERTH, VIVIEN KYLES.
76
Steve Harman Chairman Appointed1Jul2013
Nick Rust ChiefExecutive Appointed19Jan2015
Laura Whyte Appointed1Dec2014
Joe Saumarez Smith Appointed1Dec2014
Andrew Merriam IndependentRegulatoryDirector Appointed1Sep2012
Atholl Duncan Appointed1Dec2014
Eamonn Wilmott Appointed1Dec2014
Rupert Arnold Appointed19Jan2015
Sir Paul Stephenson IndependentRegulatoryDirector Appointed1Jul2015
Vivien Kyles Appointed1Jan2016
Julie Harrington Appointed1Dec2014
Nöel Harwerth Appointed1Dec2014
DIRECTORS
Nick Rust ChiefExecutive
Adam Brickell DirectorofIntegrity,LegalandRisk
Carole Goldsmith DirectorofPeopleandDevelopment
Gavin Jefferies DirectorofCommunications(witheffectfromJan2016)
Will Lambe DirectorofCorporateAffairs
Ruth Quinn DirectorofInternationalRacingandRacingDevelopment
Jamie Stier DirectorofRacedayOperationsandRegulation
Richard Wayman ChiefOperatingOfficer(witheffectfromJan2016)
THE BHA EXECUTIVE TEAM
77
DIRECTORS’ REPORT AND GOVERNANCE STATEMENT
Steve Harman
Chairman
July2013-present
SteveHarmanbecameChairmanoftheBritishHorseracing
AuthorityinJuly2013,havingpreviouslyservedasaVice
PresidentatRoyalDutchShell.BornandraisedinDurham,
StevewaseducatedatDurhamUniversity(BAHons)and
Warwick.From1980onwards,SteveworkedforRoyalDutch
ShellinpositionsacrossEurope,AsiaandtheAmericas.
Between1999and2004hewasCEOofShellMarinebefore
becomingCEOofPennzoilbetween2005and2009.Latterly
heranShell’sGlobalDownstreamJointventures.Hehas
extensiveexperienceofdealingwithmultiplestakeholders
andgovernmentorganisations,andhassatonvarious
corporateboardswhilstholdingavarietyofexecutiveand
non-executivepositionsintheUK,AmericaandAsia.Steveis
alsoaDirectorandTrusteeofHelpforHeroes,aMemberof
DurhamUniversityCouncil,anon-executivewithtwoprivate
equityfirms,andasupporterandmentortoanumberof
smallbusinessstart-ups.Stevehasbeenakeenracehorse
ownerforover20years–bothontheflatandoverjumps–
mostlyinsmallpartnershipswithavarietyoftrainers.He
currentlyhashorsesintrainingwithMartinKeighleyand
PhilipHobbs,plussharesinvariousflathorseswithRichard
Fahey,AndrewBalding,SimonCrisfordandJeremyGask.
Nick Rust
Chief Executive
January2015-present
NickRusthasover27yearsofexperienceinthebetting
andgamingindustry,andjoinedtheBHAfromLadbrokes
PLC,wherehewasManagingDirector,Retail,inJanuary
2015.Inhispreviousrolehehadoversightofaround2,500
bettingshopsand13,000staff.Here-joinedLadbrokesin
2011,havingstartedatthefirmasacashierin1987,and
heldrolesatBskyBbetween2002and2007,includingas
ManagingDirectorofSkyBet,andatGalaCoralfrom2007
to2010,includingasManagingDirector,RemoteGambling
andCoralRetail.Hehasextensiveexperienceinindustry
andcorporateaffairs,havingmanagedkeyrelationships
withGovernmentandregulators,andhasexcellent
relationshipsacrossBritishracing.Nickhasbeenan
ownersince2005,andcurrentlyhashorsesintraining
withMickyHammondinMiddleham,NorthYorkshire,for
whosetrainingbusinesshehasalsoservedasaDirector.
Andrew Merriam
Independent Regulatory Director
September2012-present
AndrewMerriamisachairmanandadirectorwitha
numberofothercompanies,includingadirectorof
FakenhamRacecourse.CurrentlyChairmanoftheBHA’s
RulesCommittee,theStewardingandDisciplinaryPolicy
CommitteeandtheAuditCommittee,hewaspreviously
ChairmanoftheDisciplinaryPanelandamemberofthe
RegulatoryCommittee.Hehasactedasaracecourse
stewardatNewmarket,Cheltenham,Fakenham,Southwell
andYarmouth.AndrewMerriamwaselectedtoThe
JockeyClubin1997.HeisChairmanofJockeyClub
EstatesandwasappointedaSteward,forthesecond
time,in2008.Andrewownsandbreedsnationalhunt
horsestoraceunderrulesandinpoint-to-points.
Sir Paul Stephenson
Independent Regulatory Director
July2015-present
SirPaulhadahighlydistinguishedcareerasapolice
officerovermorethan35years,holdingseniorcommand
positionsinMerseyside,LancashireandLondon.Inhis
roleswiththeMetropolitanPoliceService–whereas
CommissionerhewasthemostseniorofficerintheUK–
headvisedgovernmentsonissuesrangingfromcounter
terrorismtoseriousorganisedcrimeandnationalpolice
improvements,withafocusonmodern,transparent
andcollaborativepolicing.Hehasservedastrustee
foranumberofcharities,andiscurrentlyatrusteeof
CrimestoppersUK.HeleadstheBHAboard’seffortsin
itspriorityareas,ensuringthatBritishracingisregulated
tohighstandards,andseenbyalltobefairandclean.
BOARD MEMBERS
78
Atholl Duncan
December2014-present
Anexperiencednon-executivedirectorinsports
organisations,Athollspentnearly25yearswiththe
BBC,initiallyasajournalistandTVnewsandsports
producer,beforerisingtobeHeadofNewsand
CurrentAffairsfortheBBCinScotland.Hespentfour
yearsasDirectorofCorporateAffairswithScottish
Waterandsince2011hasbeenExecutiveDirectorof
ICAS,theprofessionalbodyofCharteredAccountants.
Athollsitsonnumerousadvisoryboards,hasworked
withtheGovernmentonvariousbusinessissues
andhasgoodknowledgeofsportsadministration
andgovernance.Hewasanon-executivedirectorof
Sportscotlandfornineyears,satontheScottishSports
CouncilTrustandcurrentlysitsontheboardofthe
HibernianFootballClubCommunityFoundation.Atholl
hasbeenaregularracegoerformorethan35yearsand
isamemberoftheCaledonianRacingSociety,whichhas
hadvarioushorsesintrainingwithHughieMorrison.
Julie Harrington
December2014-present
JulieHarringtonhasconsiderableknowledgeand
experienceinBritishhorseracingasaresultofhereight
yearcareerwithNorthernRacing.Herfinalappointment
wasasOperationsDirectorandpriortothatshewas
ManagingDirectorofUttoxeterRacecourse.Julie’searly
careerwaswithWhitbreadInnsasRegionalMarketing
DirectorandthenwithBritishAirwaysasRetailSector
Director.PreviouslyStGeorge'sParkManagingDirector,
JulieisnowOperationsDirectoracrosstheFA'ssitesin
Burton-upon-TrentandatWembleyStadium.Inadditionto
herextensiveracecourseexperience,Julieisalsoanowner.
Nöel Harwerth
December2014-present
NöelHarwerthandherhusbandareformerbreeders
whonowbuyyearlingsinBritainandIrelandandrace
inBritain.NöelisactiveinbothBritishandUSracing
andisinvolvedwiththeNationalMuseumofRacing
andHallofFame.ShewaspreviouslyaGovernment
appointeeontheBoardoftheToteandiscurrentlynon-
executivedirectoronanumberofhighprofilefinancial
servicesorganisations,includingStandardLifeplc,GE
CapitalBankLimitedandLondonMetalExchange.
From1998to2003NöelwastheChiefOperating
OfficerofCitibankInternationalandpriortothat
servedastheChiefTaxOfficerofCitigroup,Dun
&BradstreetCorporationandKennecottCopper
Corporation.Sheisalsoaqualifiedsolicitor.
Joe Saumarez Smith
December2014-present
AstheCEOofSportsGamingLimited,aLondon-based
managementconsultancytothegamingindustry,Joe
hasforthepast15yearsadvisedandworkedcloselywith
lotteries,governments,investmentbanksandoperating
companiesonstrategy,operationalrestructuring,finance
andmergerandacquisition.Hecontinuestoworkwith
theOntarioLotteryasaInternetGamingExpert,helping
themmovetheirland-basedoperationsonline.In2012
Joeco-foundedBedeGamingLtd,aprovideroftechnology
totheonlinecasinoandbingoindustries,andoneofthe
fastestgrowingcompaniesinthenorth-east.BedeGaming
islicensedbytheUKGamblingCommissionandother
internationalregulatorybodies.JoehasanMBAfromthe
WhartonSchoolofFinance,UniversityofPennsylvania,
wherehewasaThouronscholar.Joehasadeeprooted
passionandunderstandingofhorseracing,havingbeenan
avidfolloweroftheindustrysincetheageofeight.Hewas
ontheJockeyClubGraduateProgrammeandworkedatthe
RacingPost.Overthepast20yearshehasbeenaregular
racegoerandhasbeentomorethan200tracksaround
theworld.Hehaswrittenextensivelyabouthorseracing
andgamblingforavarietyofpublications,includingthe
FinancialTimes,TheTimes,TheTelegraph,andBloomberg.
79
DIRECTORS’ REPORT AND GOVERNANCE STATEMENT
Laura Whyte
December2014-present
LaurahashadahighlysuccessfulcareerwiththeJohnLewis
Partnership.ShewasontheJohnLewisManagementBoard
for10yearsduringwhichshesawthebusinessgrowfrom
22,000to34,000employeesandaturnoverof£4.1billion,
mostrecentlyintheroleofHumanResourcesDirector.Prior
totakingtheroleofHumanResourcesDirectorLauraalso
tookontheroleofDivisionalRegistrar;aboardroleunique
tothePartnership,withtheaimofdeliveringanobjective,
independentviewandprovidingassurancetothePartnership
Boardthatemployeeswereappropriatelysupported,that
theirviewswerereflectedindecision-makingandthat
governancewithinJohnLewiswascorrectlyexercised.
Laurahasconsiderablenon-executivedirectorexperience,
shesitsontheDefencePeopleandTrainingBoardwithin
theMinistryofDefenceandisaTrusteeofWomenin
Retail.Lauraisakeenhorsewoman,andhasownedher
ownhorsesforfifteenyears.Hertwoprobonoactivities
areequinerelated–theBritishEquestrianFederation
andEbonyHorseClubinBrixton–givingherexperienceof
awiderangeofequineissuesandunderstandingofrelated
governanceincharitableandgoverningbodysectors.
Eamonn Wilmott
December2014-present
EamonnWilmottisahighlysuccessfulentrepreneur,
witharecordofconsiderablesuccessinBritainandtheUS.
EamonnistheFounderandManagingDirectorofHorses
FirstRacing,astateofthearttrainingyard,inpartnership
withtrainerJeremyGask.Havinghadexperienceinthe
trainingyard,andasaracehorseownerformanyyears,
Eamonnhasastrongbackgroundandunderstanding
invariousaspectsoftheracingworld.Eamonnwas
previouslyChairmanoftheThoroughbredOwner&
BreederMagazineandco-foundedTotalPerformance
DataLimitedwithROACouncilMember
WillDuffGordon,todevelopcutting-edgeequine
monitoringsystems.Eamonn’searlycareerwasasa
leaderinthedevelopmentoftheinternet.Hewasthe
FounderandManagingDirectorofanaward-winningdigital
agencyandbetween1997and2003hewasChairman
ofagency.com,aleadingworldwidedigitalagency.
Rupert Arnold
December2014-present
RupertArnoldhasbeentheChiefExecutiveofthe
NationalTrainersFederation,therepresentativebody
forlicensedracehorsetrainersinGreatBritain,since
2000.Duringthistimehehasalsobeenadirectorofthe
BHA,Horsemen'sGroupandtheBritishHorseracing
EducationandStandardsTrust.Earlierinhiscareer,after
employmentasassistanttrainertoJeremyHindley,John
WinterandPaulCole,Rupertheldatrainer’slicence
forsixyears,traininginUpperLambourn,Berkshire.
Vivien Kyles
January2016-present
VivienKylesisChiefExecutiveofHamiltonParkRacecourse,
whereshetookupappointmentinJune2008.Sheisalso
amemberoftheDevelopmentBoardoftheMarieCurie
HospiceinGlasgowandViceChairmanoftheRCA.Priorto
thisshewaspartownerofandChiefExecutiveofLivingston
FootballClubhavingboughttheclubandtakenitout
ofAdministration.ShealsosatontheScottishFootball
LeagueManagementCommitteewhereshewasthefirst
femaletoholdsuchanappointmentinitsover100year
existence.QualifyingasaCharteredAccountantwithErnst
&Young,VivienworkedinLondon,AustraliaandGlasgow,
includingaperiodadvisingtechnologystart-ups,before
joiningtelecomsbusinessDamovo.StartingasDirector
ofStrategyshewasresponsiblefortheintegrationof
thegroup’s18countries’salesforcesbeforebecoming
headofGlobalSalesandSolutions.Viviendoesavariety
ofpublicspeakingsharingherlifeandworkexperiences
ofadaptingherbusinessskillstodifferentindustries.
80
81
KEY STATISTICS
Fixtures 82 - 85
Races 86 - 93
Horsesintraining 94 - 97
Ownershipfigures 98
Foalcrop 99
OtherKPIs 100 - 103
KEY STATISTICSDataaroundfieldsizes,competitivenessof
racingandthenumbersofhorsesintrainingare
importantmeasuresofthesuccessofthesport.
Foranumberofyearswehavewitnesseddecline,
butin2015wehaveseenthosetrendsreversed
andgrowthwitnessedinalmosteveryarea.
Whilethegrowthfiguresarerelativelymodest,
thereversalofthetrendtowardsdecline
is,initself,anencouragingresult.
82
FIXTURESYEAR TO DATE
FIXTURES SCHEDULED
Flatturf
20122011
583599 578
319300 311
594591 586
1,4961,490 1,475
2013 2015
588 569
320 317
587 591
1,495 1,477
2014
Flatallweather
Jump
Total
Note: Flat includes mixed meetings.
571 515 538 546 558
301 314 315 310 318
597539 578 573 564
1600
2011 2012 2013 2014 2015
1200
800
400
0
FIXTURES RUN
Flatturf
20122011
539597 573
314301 310
515571 546
1,3681,469 1,429
2013 2015
578 564
315 318
538 558
1,431 1,440
2014
Flatallweather
Jump
Total
Note: includes additional, rescheduled and partially abandoned fixtures. Flat includes mixed.
FIXTURES |RACES|HORSESINTRAINING|OWNERSHIPFIGURES|FOALCROP|OTHERKPIsN
umbe
r of
fixt
ures
run
by
race
type
83
KEY STATISTICS
ABANDONMENTS
Flatturf
20122011
410 4
70 1
8121 41
12921 46
2013 2015
7 3
6 0
52 34
65 37
2014
Flatallweather
Jump
Note: Flat includes mixed meetings.
140
2011 2012 2013 2014 2015
105
70
35
0
129
21
65
4637
Total
Num
ber
of a
band
onm
ents
(tot
al)
84
2011 2012 2013 2014 2015
0
300
600
900
1200
TURF FIXTURES BY GOING
20122011
1920 17
160344 214
292
362
179
175
418
207
136
42
356
206
227
95
2013 2015
22 13
294 231
362
179
175
78
390
232
188
68
2014
Goodtofirm
Good
Goodtosoft
Soft
Heavy
Firm
160
292
362
179
175
294
362
179
175
78
214
356
206
227
95
231
390
232
188
68
344
418
207
136
42
20
19
22 17 13
FIXTURES |RACES|HORSESINTRAINING|OWNERSHIPFIGURES|FOALCROP|OTHERKPIs
1,1871,167 1,1151,110 1,122Total
Num
ber
of tu
rf fi
xtur
es b
y go
ing
85
KEY STATISTICS
TOTAL PRIZE MONEY (£'000)
AVERAGE PRIZE MONEY (£) (BY RACE)
2012
2012
2011
2011
66,022
10,811
62,413
9,954
82,380
13,060
31,757
8,971
31,480
8,120
40,609
10,695
2013
2013
2015
2015
75,903
11,867
89,736
14,342
38,320
10,219
42,415
11,209
2014
2014
97,77893,893 122,989114,223 132,152Total
10,1369,253 12,17111,258 13,161Total
Flat
Flat
Jump
Jump
62.4
31.4
2011 2012 2013 2014 2015
66
31.7
75.9
38.3
82.3
40.6
89.7
42.4
35million
0
70million
105million
140million
Tota
l pri
ze m
oney
by
race
type
86
RACES YEAR TO DATE
RACES RUN
Flatturf
20122011
3,374
38.7%
4,022
39.6%
3,979
39.4%
2,373
24.6%
2,248
22.2%
2,329
23.0%
1,310
13.6%
1,826
18.9%
305
3.2%
99
1.0%
1,451
14.3%
2,010
19.8%
306
3.0%
110
1.1%
1,402
13.9%
1,968
19.5%
333
3.3%
94
0.9%
2013 2015
4,002
39.4%
3,947
39.3%
2,394
23.6%
2,310
23.0%
1,387
13.7%
1,899
18.7%
357
3.5%
107
1.1%
1,361
13.6%
2,034
20.3%
295
2.9%
94
0.9%
2014
Flatallweather
Steeplechase
Hurdle
NHF
Hunterchase
9,64710,147 10,10510,146 10,041Total
100%100% 100%100% 100%Total
100%
2011 2012 2013 2014 2015
75%
50%
25%
0
3.0% 3.2% 3.5% 3.3% 2.9%1.1% 1.0% 1.1% 0.9% 0.9%
39.6%
22.2%
14.3%
19.8%
38.7%
24.6%
13.6%
18.9%
39.4%
23.6%
13.7%
18.7%
39.4%
23.0%
13.9%
19.5%
39.3%
23.0%
13.6%
20.3%
FIXTURES| RACES |HORSESINTRAINING|OWNERSHIPFIGURES|FOALCROP|OTHERKPIs
Flatturf
Flatallweather
Steeplechase
Hurdle
NHF
Hunterchase
Per
cent
age
of to
tal r
aces
run
by
race
type
87
KEY STATISTICS
AVERAGE FIELD SIZE
20122011
9.599.50 8.93
8.928.97 8.22
2013 2015
8.99 9.02
8.88 8.35
2014
10
2011 2012 2013 2014 2015
8.5
7.0
5.5
0
9.359.30 8.668.95 8.77All
Flat
Jump
Aver
age
field
siz
e by
rac
e ty
pe
88
ENTRIES
20122011
147,554144,185 128,350
78,50086,982 72,475
2013 2015
136,611 128,675
80,270 73,094
2014
226,054231,167 200,825216,881 201,769Total
Flat
Jump
240,000
2011 2012 2013 2014 2015
180,000
120,000
60,000
0
FIXTURES| RACES |HORSESINTRAINING|OWNERSHIPFIGURES|FOALCROP|OTHERKPIsN
umbe
r of
ent
ries
by
race
type
89
KEY STATISTICS
DECLARATIONS
20122011
65,10265,291 62,278
34,14037,130 33,469
2013 2015
63,570 62,055
35,957 33,811
2014
110,000
2011 2012 2013 2014 2015
82,500
55,000
27,500
0
99,242102,421 95,74799,527 95,866Total
Flat
Jump
Num
ber
of d
ecla
ratio
ns b
y ra
ce ty
pe
90
RUNNERS
20122011
58,59359,592 56,309
31,58134,748 31,222
2013 2015
57,526 56,463
33,310 31,612
2014
90,17494,376 87,53190,836 88,075Total
Flat
Jump
ELIMINATIONS
20122011
8,1486,658 4,766
1,5001,776 874
2013 2015
5,723 4,603
1,546 920
2014
10,000
2011 2012 2013 2014 2015
7,500
5,000
2,500
0
9,6488,434 5,6407,269 5,523Total
Flat
Jump
FIXTURES| RACES |HORSESINTRAINING|OWNERSHIPFIGURES|FOALCROP|OTHERKPIsN
umbe
r of
elim
inat
ions
by
race
type
91
KEY STATISTICS
1,2631,385 1,1041,216 1,047Dual
INDIVIDUAL RUNNERS
20122011
9,6149,806 9,580
2013 2015
9,588 9,726
2014
18,55019,329 18,07718,506 18,315Total
Flat
7,6738,138 7,3937,702 7,542Jump
19,329 18,506 18,077 18,31518,550
94,376 90,836 87,53190,174
100,000
2011
2011
2012
2012
2013
2013
2014
2014
2015
2015
75,000
50,000
25,000
0
88,075
Num
ber
of r
unne
rs (t
otal
)
20,000
16,250
12,500
8,750
5,000Num
ber
of in
divi
dual
run
ners
(tot
al)
92
AVERAGE NUMBER OF RUNS PER HORSE
NON-RUNNERS
2012
2012
2011
2011
2013
2013
2015
2015
2014
2014
5.45.3 5.3
3.53.7 3.7
5.3 5.2
3.7 3.7
4.94.9 4.84.9 4.8
6,5095,699 5,969
2,5592,346 2,247
6,044 5,592
2,647 2,199
9,0688,045 8,2168,691 7,791Total
Flat
Jump
Total
Flat
Jump
FIXTURES| RACES |HORSESINTRAINING|OWNERSHIPFIGURES|FOALCROP|OTHERKPIs
6
2011 2012 2013 2014 2015
4.5
3
1.5
0Num
ber
of r
uns
by r
ace
type
93
KEY STATISTICS
AVERAGE FIELD SIZE
20122011 2013 20152014
9.079.23 9.118.98 9.21Pattern/listed
6.556.71 6.656.33 6.50WFAconditions
9.589.55 8.898.90 8.81Maiden
4.654.93 4.944.69 4.93Novice
7.287.30 7.096.81 7.17Sellers/claimers
8.308.78 8.208.20 8.24Auctionraces
15.6417.00 15.5017.40 16.10Salesraces
10.4111.14 10.4510.84 10.21Pattern/listed
7.767.68 7.117.72 7.41Handicap
5.895.15 4.805.79 4.92Maiden/novice
6.625.38 5.315.58 6.21WFAconditions
10.6511.58 10.029.87 10.01Pattern/listed
10.1010.09 9.0110.17 9.19Handicap
9.6010.03 8.689.58 8.46Maiden/novice
8.027.78 6.137.25 7.11WFAconditions
7.838.50 7.457.98 7.94Sellers/claimers
9.599.50 8.938.99 9.02Flat
7.517.25 7.037.53 7.31Steeple Chase
9.769.96 8.869.75 8.91Hurdle
10.0910.75 9.289.62 9.16National Hunt Flat
8.658.75 8.978.56 9.02Hunter Chases
11.00
2011 2012 2013 2014 2015
9.50
8.00
6.50
0
10.1810.03 9.219.40 9.33Handicap
Aver
age
field
siz
e by
rac
e ty
pe
94
13,71614,055 13,52813,703 13,886
8,634 8,471 8,440 8,525 8,715
4,420 4,452 4,3094,3974,542
670647 632 635
616
2011 2012 2013 2014 2015
6,000
3,000
9,000
12,000
15,000
ALL
20122011
8,4718,634 8,525
4,4204,542 4,309
647670 635
2013 2015
8,440 8,715
4,452 4,397
632 616
2014
Jump
Dual
Flat
HORSES IN TRAININGMONTHLY AVERAGE
All
FIXTURES|RACES| HORSES IN TRAINING |OWNERSHIPFIGURES|FOALCROP|OTHERKPIsAv
erag
e nu
mbe
r of
hor
ses
in tr
aini
ng b
y ra
ce ty
pe
95
KEY STATISTICS
FLAT
20122011
2,8493,042 3,044
2013 2015
2,966 3,214
2014
8,4718,634 8,5258,440 8,715Total
2011 2012 2013 2014 2015
1000
12,000
2000
3000
4000
2YO
1,2291,264 1,1611,230 1,1744YO
1,7411,741 1,8241,763 1,7825YO+
2,6522,586 2,4952,482 2,5453YO
Aver
age
num
ber
of fl
at h
orse
s in
trai
ning
by
age
96
4,4204,542 4,3094,452 4,397
2011 2012 2013 2014 2015
1,000
0
2,000
3,000
4,000
JUMP
20122011
94110 122
566587 537
3,7603,845 3,650
2013 2015
111 120
528 583
3,814 3,695
2014
4YO
5YO+
3YO
Total
FIXTURES|RACES| HORSES IN TRAINING |OWNERSHIPFIGURES|FOALCROP|OTHERKPIsAv
erag
e nu
mbe
r of
jum
p ho
rses
in tr
aini
ng b
y ag
e
97
KEY STATISTICS
647670 635632 616
2011 2012 2013 2014 2015
125
0
250
375
500
DUAL
20122011
6462 58
164169 138
419439 439
2013 2015
50 52
154 158
428 406
2014
4YO
5YO+
3YO
Total
Aver
age
num
ber
of d
ual h
orse
s in
trai
ning
by
age
98
8,2158,425 7,9317,968 7,892
2,238 2,142 2,024 1,937 1,852
4,9244,922
4,814 4,8595,006
957928 937907
905
2011 2012 2013 2014 2015
2,250
0
4,500
6,750
9,000
NUMBER OF OWNERS
20122011
2,1422,238 1,937
4,9245,006 4,859
928957 937
2013 2015
2,024 1,852
4,814 4,922
907 905
2014
Partnership
Other
Soleowners
OWNERSHIPFIGURES
Total
FIXTURES|RACES|HORSESINTRAINING| OWNERSHIP FIGURES | FOAL CROP |OTHERKPIs
221224 220223 213Company
221224
223 220213
Num
ber
of o
wne
rs b
y ow
ners
hip
type
99
KEY STATISTICS
NUMBER OF THOROUGHBRED FOALS
20122011
4,3664,635 4,255
2013 2015
4,420 4,569
2014
2011 2012 2013 2014 2015
4,250
4,000
4,500
4,750
5,000
Foals
FOAL CROP
4,635
4,3664,420
4,255
4,569
Num
ber
of th
orou
ghbr
ed fo
als
100
7 RACE CARDS
20122011
18.1%25.2% 11.8%
81.9%74.8% 88.2%
2013 2015
13.4% 21.2%
86.6% 78.8%
2014
7+Races
<7Races
OTHER KPIsYEAR TO DATE
RACES WITH FEWER THAN 6 RUNNERS
20122011
9.8%10.1% 12.3%
16.5%17.4% 20.5%
2013 2015
13.3% 10.9%
15.9% 16.3%
2014
Jump
Flat
12.2%12.9% 15.4%14.3% 12.9%Total
30.0%
2011 2012 2013 2014 2015
22.5%
15.0%
7.5%
0.0%
FIXTURES|RACES|HORSESINTRAINING|OWNERSHIPFIGURES|FOALCROP| OTHER KPIsP
erce
ntag
e of
rac
es w
ith fe
wer
th
an 6
run
ners
by
race
type
101
KEY STATISTICS
RACES WITH 8 (OR MORE) RUNNERS
20122011
71.9%69.9% 63.9%
61.0%60.1% 51.3%
2013 2015
64.8% 65.9%
60.3% 54.8%
2014
Jump
Flat
67.9%66.1% 59.2%63.1% 61.7%Total
2011 2012 2013 2014 2015
80.0%
60%
40%
20%
0.0%Per
cent
age
of r
aces
with
8 o
r m
ore
runn
ers
by r
ace
type
102
RACES WITH ODDS ON FAVOURITES
20122011 2013 20152014
11.2%13.1% 13.7%
16.9%19.8% 18.6%
13.7% 12.7%
17.8% 17.8%
13.3%15.7% 15.6%15.2% 14.6%Total
20.0%
2011 2012 2013 2014 2015
15.0%
10.0%
5.0%
0
Jump
Flat
FIXTURES|RACES|HORSESINTRAINING|OWNERSHIPFIGURES|FOALCROP| OTHER KPIsP
erce
ntag
e of
rac
es w
ith o
dds
on fa
vour
ites
by r
ace
type
103
KEY STATISTICS
TERRESTRIALLY TELEVISED RACES
20122011 2013 20152014
342272 332
195255 205
323 340
186 216
537527 537509 556Total
600
2011 2012 2013 2014 2015
450
300
150
0
Jump
Flat
340272342
323332
216255
195 186 205
Num
ber
of te
rres
tria
lly
tele
vise
d ra
ces
by r
ace
type
104
105
FINANCIAL STATEMENTS
Profitandloss 106 - 107
Balancesheet 108 - 109
Cashflow 110
Equitychanges 111
Notes 112 - 137
FINANCIAL STATEMENTS
106
CONSOLIDATED PROFIT AND LOSS ACCOUNT (for the year ended 31 December 2015)
CONSOLIDATED OTHER COMPREHENSIVE INCOME / (LOSS) (for the year ended 31 December 2015)
Note 2015 (restated)2014
£'000 £'000
Groupturnover 2 32,453 30,502
Administrativeexpenses (31,346) 30,836
Operating profit / (loss) 1,107 (334)
Otherinterestreceivableandsimilarincome 6 34 73
Interestpayableandsimilarcharges 7 (377) (479)
Profit / (loss) on ordinary activities before taxation 5 764 (740)
Taxationonprofit/(loss)onordinaryactivities 8 537 44
Profit / (loss) for the financial year 16 1,301 (696)
Theprofit/(loss)intheaboveprofitandlossaccountrelateentirelytocontinuingoperations.Thenotesonpages112to138formpartofthesefinancialstatements.
Note 2015 (restated)2014
£'000 £'000
Profit / (loss) for the financial year 1,301 (696)
Othercomprehensiveincome
Remeasurementofthenetdefinedbenefitliability 16 (1,785) (1,281)
Total comprehensive loss for the year (484) (1,977)
PROFIT AND LOSS
107
FINANCIAL STATEMENTS
COMPANY PROFIT AND LOSS ACCOUNT (for the year ended 31 December 2015)
OTHER COMPREHENSIVE INCOME / (LOSS) (for the year ended 31 December 2015)
Note 2015 (restated)2014
£'000 £'000
Turnover 2 31,124 29,141
Administrativeexpenses (30,015) (29,467)
Operating profit / (loss) 1,109 (326)
Otherinterestreceivableandsimilarincome 6 27 60
Interestpayableandsimilarcharges 7 (377) (479)
Profit / (loss) on ordinary activities before taxation 5 759 (745)
Taxationonprofit/(loss)onordinaryactivities 8 530 67
Profit / (loss) for the financial year 16 1,289 (678)
Theprofit/(loss)intheaboveprofitandlossaccountrelateentirelytocontinuingoperations.Thenotesonpages112to138formpartofthesefinancialstatements.
Note 2015 (restated)2014
£'000 £'000
Profit / (loss) for the financial year 1,289 (678)
Othercomprehensiveincome
Remeasurementofthenetdefinedbenefitliability 16 (1,785) (1,281)
Total comprehensive loss for the year (496) (1,959)
108
CONSOLIDATED BALANCE SHEET (at 31 December 2015)
Note 2015 (restated)2014
£'000 £'000
Fixed assets
Intangibleassets 9 1,195 1,000
Tangibleassets 10 572 621
1,767 1,621
Current assets
Debtors(including£2,211,000(2014:£2,291,000)dueaftermorethanoneyear) 12 10,813 8,687
Cashatbankandinhand 13 12,731 11,933
23,544 20,620
Creditors:amountsfallingduewithinoneyear 14 (16,411) (14,043)
Net current assets 7,133 6,577
Total assets less current liabilities 8,900 8,198
Provisions for liabilities
Pensionandsimilarobligations 17 (12,801) (11,615)
Net liabilities (3,901) (3,417)
Capital and reserves
Capitalreserve 16 19 19
Profitandlossaccount 16 (3,920) (3,436)
Shareholders’ deficit (3,901) (3,417)
Thesefinancialstatementswereapprovedbytheboardofdirectorson28April2016andweresignedonitsbehalfby:SHarman,Chairman.
BALANCE SHEET
109
FINANCIAL STATEMENTS
COMPANY BALANCE SHEET (at 31 December 2015)
Note 2015 (restated)2014
£'000 £'000
Fixed assets
Intangibleassets 9 1,195 1,000
Tangibleassets 10 572 621
Investments 11 3,604 3,604
5,371 5,225
Current assets
Debtors 12 8,401 5,955
Cashatbankandinhand 13 11,407 10,627
19,808 16,582
Creditors:amountsfallingduewithinoneyear 14 (16,326) (13,644)
Net current assets 3,482 2,938
Total assets less current liabilities 8,853 8,163
Provisions for liabilities
Pensionandsimilarobligations 17 (12,801) (11,615)
Net liabilities (3,948) (3,452)
Capital and reserves
Capitalreserve 16 19 19
Profitandlossaccount 16 (3,967) (3,471)
Shareholders’ deficit (3,948) (3,452)
Thesefinancialstatementswereapprovedbytheboardofdirectorson28April2016andweresignedonitsbehalfby:SHarman,Chairman.
110
CONSOLIDATED CASH FLOW STATEMENT (for the year ended 31 December 2015)
Note 2015 (restated)2014
£'000 £'000
Cash flows for operating activities
Operatingprofit/(loss) 1,107 (334)
Adjustmentsfor
Depreciation,amortisationandimpairment 531 530
Interestreceived 34 73
Lossonsaleoffixedasset 1 -
Corporationtaxpaid - (113)
Corporationtaxreclaimedinrespectofpriorperiods 429 65
2,102 221
Increaseindebtors (2,282) (364)
Increaseincreditors 2,368 2,113
Differencebetweencashcontributionsandpensioncharge (2,162) (1,760)
Increaseinpensionliability 1,186 663
Netcashfromoperatingactivities 1,212 873
Cash flows from investing activities
Capitaliseddevelopmentexpenditure (419) (874)
Acquisitionoftangiblefixedassets (259) (336)
Netcashfrominvestingactivities (678) (1,210)
Cash flows from financing activities
Newloansmadetoassociatedundertakings - (53)
Loansreceivedfromassociatedundertakings 264 -
Netcashfromfinancingactivities 264 (53)
Increase / (decrease) in cash and cash equivalents 20 798 (390)
CASH FLOW
111
FINANCIAL STATEMENTS
STATEMENT OF CHANGES IN EQUITY
Capital reserve Profit and loss account Total Equity
£'000 £'000 £'000
Balanceat1January2014 19 (1,459) 1,440
Effectofchangeinaccountingpolicy - - -
Balanceat1January2014(restated) 19 (1,459) 1,440
Total comprehensive income for the period
Profitorloss - (696) (696)
Othercomprehensiveincome - (1,281) (1,281)
Balance at 31 December 2014 19 (3,436) (3,417)
Capitalreserve Profit and loss account TotalEquity
£'000 £'000 £'000
Balanceat1January2015 19 (3,436) 3,417
Total comprehensive income for the period
Profitorloss - 1,289 1,289
Othercomprehensiveincome - (1,785) (1,785)
Balance at 31 December 2015 19 (3,920) (3,901)
AsaresultofadoptingFRS102andrestatingopeningbalancesanamountof£50,000wasreclassifiedashavinggonethroughothercomprehensiveincomeratherthantheprofit
andlossaccount.Forthepurposesofchangesinequitythesetwoamountsoffsetandtheopeningamountintheprofitandlossaccountbeforeandafterrestatementarethesame.
ThereclassificationarisesduetodifferenttreatmentofinterestcostinFRS102comparedtoFRS17.
EQUITY CHANGES
112
1 ACCOUNTING POLICIES
BritishHorseracingAuthorityLimited(the
Company)isacompanylimitedbyguarantee
andincorporatedanddomiciledintheUK.
TheGroupandparentcompanyfinancialstatements
werepreparedinaccordancewithFinancialReporting
Standard102TheFinancialReportingStandard
applicableintheUKandRepublicofIreland(FRS102)
asissuedinAugust2014.Allamountsinthefinancial
statementshavebeenroundedtothenearest£1,000.
InthetransitiontoFRS102fromoldUKGAAP,theGroup
hasmadeoneadjustment.Anexplanationofhowthe
transitiontoFRS102hasaffectedfinancialpositionand
financialperformanceoftheGroupisprovidedinnote22.
FRS102grantscertainfirst-timeadoptionexemptions
fromthefullrequirementsofFRS102.
The following exemptions have been
taken in these financial statements:
Leaseincentives–forleasescommencedbefore1
January2016theGroupandCompanycontinuedto
accountforleaseincentivesunderpreviousUKGAAP.
Theparentcompanyisincludedintheconsolidated
financialstatements,andisconsideredtobeaqualifying
entityunderFRS102paragraphs1.8to1.12.
The following exemptions available under FRS
102 in respect of certain disclosures for the parent
company financial statements have been applied:
Thereconciliationofthenumberofshares
outstandingfromthebeginningtotheendofthe
periodhasnotbeenincludedasecondtime;
NoseparateparentcompanyCashFlow
Statementwithrelatednotesisincluded;and
KeyManagementPersonnelcompensation
hasnotbeenincludedasecondtime;
Separatefinancialinstrumentdisclosure
isnotmadefortheCompanyonly.
Theaccountingpoliciessetoutbelowhave,unless
otherwisestated,beenappliedconsistentlytoall
periodspresentedinthesefinancialstatements.
Judgementsmadebythedirectors,intheapplication
oftheseaccountingpoliciesthathavesignificant
effectonthefinancialstatementsandestimates
withasignificantriskofmaterialadjustmentinthe
nextyeararediscussedinnote15inrelationtothe
fairvalueassessmentoffinancialinstruments.
Measurement convention
Thefinancialstatementsarepreparedonthehistorical
costbasiswiththeexceptionofcertainfinancial
instrumentswhichhavebeenmeasuredatfairvalue.
Going concern
ThedirectorsbelievethattheCompanyandGroup
arewellplacedtomanagetheirbusinessrisks
successfullydespitethecurrentuncertaineconomic
outlook.Thedirectorshaveareasonableexpectation
thattheCompanyhasadequateresourcestocontinue
inoperationalexistencefortheforeseeablefuture.
Thustheycontinuetoadoptthegoingconcernbasisof
accountinginpreparingtheannualfinancialstatements.
Basis of consolidation
Theconsolidatedfinancialstatementsincludethe
financialstatementsoftheCompanyanditssubsidiary
undertakingsmadeupto31December2015.
NOTES (FORMINGPARTOFTHEFINANCIALSTATEMENTS)
113
FINANCIAL STATEMENTS
Asubsidiaryisanentitythatiscontrolledbytheparent.
Theresultsofsubsidiaryundertakingsareincludedin
theconsolidatedprofitandlossaccountfromthedate
thatcontrolcommencesuntilthedatethatcontrol
ceases.ControlisestablishedwhentheCompanyhas
thepowertogoverntheoperatingandfinancialpolicies
ofanentitysoastoobtainbenefitsfromitsactivities.
Inassessingcontrol,theGrouptakesintoconsideration
potentialvotingrightsthatarecurrentlyexercisable.
TheCompanydoesnotownallthesharesinits
subsidiary,BritishHorseracingDatabaseLimited,
withtheminorityshareholdersholding3‘B’and3‘C’
shareseach,comparedtotheCompany’sholdingof
4,003,932‘A’shares.Nominorityinterestsareshownin
theconsolidatedaccountsoftheCompanyas(i)under
theprovisionscontainedwithintheArticlesofBHDthe
‘A’shareholderistheonlyshareholderentitledtoa
distribution,ifandwhenadistributionisdeclaredbythe
Boardand(ii)onawindinguptheassetsaredistributedin
accordancewiththenumberofsharesheldinallclasses.
AnassociateisanentityinwhichtheGrouphassignificant
influence,butnotcontrol,overtheoperatingand
financialpoliciesoftheentity.Significanceinfluence
ispresumedtoexistswhentheinvestorsholds
between20%and50%oftheequityvotingrights.
Ajointventureisacontractualarrangementundertaking
inwhichtheGroupexercisesjointcontroloverthe
operatingandfinancialpoliciesoftheentity.Where
thejointventureiscarriedoutthroughanentity,itis
treatedasajointlycontrolledentity.TheGroup’sshare
oftheprofitslesslossesofassociatesandofjointly
controlledentitiesisincludedintheconsolidatedprofit
andlossaccountanditsinterestintheirnetassetsis
recordedonthebalancesheetusingtheequitymethod.
Intheparentfinancialstatements,investments
arecarriedatcostlessimpairment.
Intangible and tangible fixed assets
Thecostofintangibleandtangiblefixedassetsis
theirpurchasecost,togetherwithanyincidental
costsofacquisition.Assetsunderconstruction
relatestoworkinprogressoncomputerrelated
development.Thiswillbeamortised/depreciated
onceitcomesintouseonthebasissetoutbelow.
Depreciation/amortisationisprovidedsoasto
writeoffthecostoftangibleandintangiblefixed
assetsonastraightlinebasisovertheestimated
usefuleconomiclivesoftheassetsconcerned.
The rates of depreciation / amortisation are as follows:
Leaseholdimprovements: 3-5yearsorlease
term,ifshorter
Contractcomputerdevelopment: 7years
Othercomputerdevelopment: 4years
Fixturesfittingsandofficeequipment: 3-5years
Intangible assets
TheCompanyholdsalicenceforuseoftheDatabase
ofpre-racedataforgovernanceandregulatory
purposes.InaccordancewithFRS102,noamounts
havebeencapitalisedinthebalancesheetinrespect
oftheserights.Thecostofacquiringthisassetis
writtenofftotheprofitandlossaccountasincurred.
Fixed asset investments
Fixedassetinvestmentsinjointventuresandsubsidiaries
areheldatcostlessanyprovisionforimpairment
inthefinancialstatementsoftheCompany.
114
Basic financial instruments
Trade and other debtors / creditors
Tradeandotherdebtorsarerecognisedinitiallyat
transactionpricelessattributabletransactioncosts.Trade
andothercreditorsarerecognisedinitiallyattransaction
priceplusattributabletransactioncosts.Subsequentto
initialrecognitiontheyaremeasuredatamortisedcost
usingtheeffectiveinterestmethod,lessanyimpairment
lossesinthecaseoftradedebtors.Ifthearrangement
constitutesafinancingtransaction,forexampleifpaymentis
deferredbeyondnormalbusinessterms,thenitismeasured
atthepresentvalueoffuturepaymentsdiscountedata
marketrateofinstrumentforasimilardebtinstrument.
Interest-bearing borrowings classified
as basic financial instruments
Interest-bearingborrowingsarerecognisedinitiallyatthe
presentvalueoffuturepaymentsdiscountedatamarket
rateofinterest.Subsequenttoinitialrecognition,interest-
bearingborrowingsarestatedatamortisedcostusingthe
effectiveinterestmethod,lessanyimpairmentlosses.
Investments in preference and ordinary shares
Investmentsinequityinstrumentsaremeasuredinitially
atfairvalue,whichisnormallythetransactionprice.
Transactioncostsareexcludediftheinvestmentsare
subsequentlymeasuredatfairvaluethroughprofitand
loss.Subsequenttoinitialrecognitioninvestmentsthat
canbemeasuredreliablyaremeasuredatfairvaluewith
changesrecognitioninprofitorloss.Otherinvestments
aremeasuredatcostlessimpairmentinprofitorloss.
Investments in subsidiaries, jointly controlled
entities and associates
Theseareseparatefinancialstatementsofthecompany.
Investmentsinsubsidiaries,jointlycontrolledentities
andassociatesarecarriedatcostlessimpairment.
Cash and cash equivalents
Cashandcashequivalentscomprisecashbalancesand
calldeposits.Bankoverdraftsthatarerepayableon
demandandformanintegralpartoftheCompany’scash
managementareincludedasacomponentofcashandcash
equivalentsforthepurposeonlyofthecashflowstatement.
Foreign currencies
Transactionsinforeigncurrenciesarerecordedusing
therateofexchangerulingatthedateofthetransaction.
Monetaryassetsandliabilitiesdenominatedinforeign
currenciesaretranslatedusingthecontractedrateor
therateofexchangerulingatthebalancesheetdate
andthegainsorlossesontranslationareincluded
intheprofitandlossaccount.
Turnover
Turnover,whichexcludesvalueaddedtax(‘VAT’),
representstheinvoicedvalueofgoodsandservices
suppliedinconnectionwiththeadministrationof
horseracinginGreatBritain.TheGrouprecognises
incomeandcostsupontransferoftitleofgoodsor
performanceofservicesandincomeisrecognisedin
thefinancialstatementsoftheCompanywhenearned.
Inaddition,includedwithinGroupturnoverare
amounts(excludingVAT)derivedfromincome
fromsignedlicenceagreementswiththirdparties.
ThelicenceincomestreamsderivedbytheGroup
arerecognisedintheperiodtheyrelateto.
Related party disclosure
RelatedPartyDisclosuresrequiresthedisclosure
ofthedetailsofmaterialtransactionsbetween
theGroupandanyrelatedparties,asdefined.
Detailsofmaterialrelatedpartytransactionsare
includedinnote21tothefinancialstatements.
115
FINANCIAL STATEMENTS
TheDirectorsconsiderthattopublishrelatedparty
disclosures,ofthetransactionsandyearendbalances
betweentheCompanyandentitieswhichformpart
oftheBritishHorseracingAuthorityLimitedgroup
wouldbedisproportionatelyonerousandwouldserve
littlepurposegiventheinformationisavailableto
themembersintheordinarycourseofbusiness.
Accordingly,theyhavedecidednottodisclose
suchinformationinthesefinancialstatements.
Provisions
Aprovisionisrecognisedinthebalancesheetwhenthe
entityhasapresentlegalorconstructiveobligationas
aresultofapastevent,thatcanbereliablymeasured
anditisprobablethatanoutflowofeconomicbenefits
willberequiredtosettletheobligation.Provisions
arerecognisedatthebestestimateoftheamount
requiredtosettletheobligationatthereportingdate.
Taxation
Taxontheprofitorlossfortheyearcomprises
currentanddeferredtax.Taxisrecognisedinthe
profitandlossaccountexcepttotheextentthatit
relatestoitemsrecogniseddirectlyinequityorother
comprehensiveincome,inwhichcaseitisrecognised
directlyinequityorothercomprehensiveincome.
Currenttaxistheexpectedtaxpayableorreceivable
onthetaxableincomeorlossfortheyear,usingtax
ratesenactedorsubstantivelyenactedatthebalance
sheetdate,andanyadjustmenttotaxpayablein
respectofpreviousyears.
Deferredtaxisprovidedontimingdifferenceswhich
arisefromtheinclusionofincomeandexpensesintax
assessmentsinperiodsdifferentfromthoseinwhich
theyarerecognisedinthefinancialstatements.Deferred
taxisnotrecognisedonpermanentdifferencesarising
becausecertaintypesofincomeorexpensearenon-
taxableoraredisallowablefortaxorbecausecertain
taxchargesorallowancesaregreaterorsmaller
thanthecorrespondingincomeorexpense.
Deferredtaxismeasuredatthetaxratethatisexpected
toapplytothereversaloftherelateddifference,using
taxratesenactedorsubstantivelyenactedatthebalance
sheetdate.Deferredtaxbalancesarenotdiscounted.
Unrelievedtaxlossesandotherdeferredtaxassets
arerecognisedonlytotheextentthatisitprobable
thattheywillberecoveredagainstthereversalof
deferredtaxliabilitiesorotherfuturetaxableprofits.
Operating leases
Payments(excludingcostsforservicesandinsurance)
madeunderoperatingleasesarerecognisedintheprofit
andlossaccountonastraight-linebasisoverthetermof
theleaseunlessthepaymentstothelessorarestructured
toincreaseinlinewithexpectedgeneralinflation;inwhich
casethepaymentsrelatedtothestructuredincreases
arerecognisedasincurred.Leaseincentivesreceived
arerecognisedinprofitandlossoverthetermofthe
leaseasanintegralpartofthetotalleaseexpense.
Employee benefits
Defined contribution plans and other
long term employee benefits
Adefinedcontributionplanisapost-employment
benefitplanunderwhichthecompanypaysfixed
contributionsintoaseparateentityandwillhaveno
legalorconstructiveobligationtopayfurtheramounts.
Obligationsforcontributionstodefinedcontribution
pensionplansarerecognisedasanexpenseinthe
profitandlossaccountintheperiodsduring
whichservicesarerenderedbyemployees.
116
Defined benefit plans
Adefinedbenefitplanisapost-employmentbenefitplan
otherthanadefinedcontributionplan.Theentity’snet
obligationinrespectofadefinedbenefitplaniscalculated
byestimatingtheamountoffuturebenefitthatemployees
haveearnedinreturnfortheirserviceinthecurrentand
priorperiods;thatbenefitisdiscountedtodetermine
itspresentvalue.Thefairvalueofanyplanassetsis
deducted.Theentitydeterminesthenetinterestexpense
(income)onthenetdefinedbenefitliability(asset)for
theperiodbyapplyingthediscountrateasdetermined
atthebeginningoftheannualperiodtothenetdefined
benefitliability(asset)takingaccountofchangesarising
asaresultofcontributionsandbenefitpayments.
Thediscountrateistheyieldatthebalancesheetdateon
AAcreditratedbondsdenominatedinthecurrencyof,and
havingmaturitydatesapproximatingtothetermsofthe
entity’sobligations.Avaluationisperformedtrienniallyby
aqualifiedactuaryandthepositionupdatedannuallyusing
theprojectedunitcreditmethod.Theentityrecognisesnet
definedbenefitplanassetstotheextentthatitisableto
recoverthesurpluseitherthroughreducedcontributions
inthefutureorthroughrefundsfromtheplan.
Changesinthenetdefinedbenefitliabilityarisingfrom
employeeservicerenderedduringtheperiod,netinterest
onnetdefinedbenefitliability,andthecostofplan
introductions,benefitchanges,curtailmentsandsettlements
duringtheperiodarerecognisedinprofitorloss.
Remeasurementofthenetdefinedbenefitliability/
assetisrecognisedinothercomprehensive
incomeintheperiodinwhichitoccurs.
Termination benefits
Terminationbenefitsarerecognisedasanexpensewhen
theentityisdemonstrablycommitted,withoutrealistic
possibilityofwithdrawal,toaformaldetailedplantoeither
terminateemploymentbeforethenormalretirementdate.
117
FINANCIAL STATEMENTS
2 SEGMENTAL INFORMATION – GROUP AND COMPANY
Racing administration Data licensing Total
2015 2015 2015
£'000 £'000 £'000
Turnover
UnitedKingdomandRepublicofIreland 30,672 1,781 32,453
Overseas - - -
Total sales - Group 30,672 1,781 32,453
Intragrouprevenue(Companyonly) 452
Total sales - Company 31,124
Total operating profit / (loss) before interest and taxation 1,108 (1) 1,107
Net liabilities (3,474) (427) (3,901)
Racing administration Data licensing Total
2014 2014 2014
£'000 £'000 £'000
Turnover
UnitedKingdomandRepublicofIreland 28,751 1,750 30,501
Overseas - 1 1
Total sales 28,751 1,751 30,502
Intragrouprevenue(Companyonly) 390
Total sales - Company 29,141
Total operating loss before interest and taxation (330) (4) (334)
Net liabilities (2,991) (426) (3,417)
TheGrouphastwoclassesofbusiness,datalicensingandracingadministration,bothofwhichoriginateintheUK.
Turnoverisdividedbetweentwogeographicaldestinations,andisallgeneratedthroughthirdparties.Itisnotpossible
tosplitthe(loss)/profitbeforeinterestandtaxationorthenetliabilitiesbygeographicaldestination.
118
3 REMUNERATION OF DIRECTORS AND KEY MANAGEMENT
TheremunerationpayabletoeachofthedirectorsofBritishHorseracingAuthorityLimitedfortheyearwas:
2015 2014
£'000 £'000
PABittar - 443
NJRust 406 -
SRHarman 100 100
AWKMerriam 22 20
MGGray - 18
DGGunn 18 35
WGFarnsworth - 12
JJWWadham - 18
MSJohnston - 12
DLWhyte 22 2
JWSaumarezSmith 22 2
ADuncan 22 2
EWilmott 22 2
JAHarrington 22 2
ENHarwerth 22 2
DAThorpe 20 1
JRArnold 19 -
SirPRStevenson 18 -
NMHJones - 5
Total 735 676
Theaboveincludesamountsof£nil(2014:£30,000)paidtothirdpartiesinrespectofthemmakingavailabletheservices
ofMGGrayandWGFarnsworth.ThecostsofNRustfor2015andPBittarfor2014,whowasChiefExecutive,arealso
representedwithinthecostsincludedinnote4.
2015 2014
Retirementbenefitsareaccruingtothefollowingnumberofdirectorsunder:
Moneypurchaseschemes 1 1
Theaggregateofemolumentsandamountsreceivableunderlongtermincentiveschemesofthehighestpaiddirector
was£406,000(2014:£443,000),andCompanypensioncontributionsof£24,000(2014:£43,500)weremadetoamoney
purchaseschemeonhisbehalf.
119
FINANCIAL STATEMENTS
4 STAFF NUMBERS AND COSTS
TheaveragenumberofpersonsemployedbytheCompanyduringtheyearwas211(2014:202).
Theaggregatepayrollcostsofthesepersonswereasfollows:
2015 2014
£'000 £'000
Wagesandsalaries 9,283 8,941
Pensioncosts 1,241 1,193
Socialsecuritycosts(restated) 956 913
11,480 11,047
SocialsecuritycostshavebeenrestatedtoaccuratelyreflecttheNationalInsurancecontributionspayablebythe
Company.The2014reportedfigureincludingotheramountsnotrelatedtoNationalInsurance.
TheCompanyoperatesHMRCapprovedsalarysacrificeschemesformakingpensioncontributionsandformileageclaims.
5 EXPENSES AND AUDITOR’S REMUNERATION
2015 2014
Includedinprofit/lossarethefollowing: £'000 £'000
Depreciation/amortisationchargefortheyear:
Tangibleownedfixedassets 307 436
Intangibleownedfixedassets 224 94
Lossondisposaloffixedassets 1 -
Operatingleases:
Buildingrentals 777 620
Carleases 350 345
Photocopierleases 37 56
Auditor’sremuneration:
Auditofthesefinancialstatements 41 41
Amountsreceivablebyauditorsandtheirassociatesinrespectof:
Auditoffinancialstatementsofsubsidiariesofthecompany 13 13
Taxationcomplianceservices 22 25
Othertaxadvisoryservices 12 38
Allotherservices 1 1
120
6 OTHER INTEREST RECEIVABLE AND SIMILAR INCOME - GROUP
2015 2014
£'000 £'000
Bankinterest 34 72
Loaninterest - 1
34 73
Other interest receivable and similar income - Company 2015 2014
£'000 £'000
Bankinterest 27 60
27 60
7 INTEREST PAYABLE AND SIMILAR CHARGES
2015 2014
£'000 £'000
Interestonassets 2,094 2,295
Interestonliabilities (2,471) (2,774)
Net interest expense on net defined benefit liabilities (377) (479)
121
FINANCIAL STATEMENTS
8 TAXATION - GROUP
2015 2014
£'000 £'000
Analysisofcurrenttaxrecognisedinprofitandloss
UKcorporationtaxat20.25%(2014:21.5%)
Taxonincomefortheperiod (1) (114)
Adjustmentinrespectofpriorperiods (536) 70
Total tax credit (537) (44)
Reconciliation of effective tax rate 2015 2014
£'000 £'000
Profit/(loss)excludingtaxation 764 (740)
TaxusingtheUKcorporationtaxrateof20.25%(2014:21.5%) 155 (159)
Effectsof:
Expensesnotdeductiblefortaxpurposes 60 75
Pensioncostsnotimmediatelydeductible (121) (144)
Unrecognisedlossescarriedforward - 142
Taximpactofprioryearadjustment - 11
R&Dtaxcreditstooffsettradingprofits (25) -
R&Dtaxcreditsexchangedforcash (288) -
(over)/underprovidedinprioryear (248) 70
Capitalallowancesinexcessofdepreciation (70) (39)
Total current tax credit (see above) (537) (44)
TheCompanyhasclaimedR&Dtaxcreditsforyears2012,2013and2014.Aproportionofthesehavebeenusedtooffset
previouspaymentsofcorporationtaxandareclaimhasbeenprocessedbyHMRC.Thiselementisincludedintheover
provisionofprioryears.Afurtherelementhasbeenexchangedforcashastherearenolossestousethesecredits
against,thisamountof£288,000isshownseparately.TheCompanywillcontinuetoseektoclaimthesegoingforward,
whereappropriate,andwillonlyincludeanamountinrespectofthecurrentyearsuchthatitoffsetsanylikelytax
chargeontradingprofits.ThefullamountwillbeincludedonlyonceclaimedandreceivedfromHMRC.
TheimplementationofFRS102andrelatedrestatementshavenotrequiredanychangetotheabovetaxcalculationfor
currentorprioryear.
122
Factors that may affect future tax charges:
Adeferredtaxassetof£2,592,000(2014:£2,497,000)hasnotbeenrecognisedoneithertheGroup’spensionscheme
liability,thepensionpaymentsarenotdeductibleuntilfutureyears.Thisisduetotheuncertaintyoftherebeing
sufficienttaxableprofitsinfutureyearstoenablesuchtaxdeductionstobeclaimed.
Taxation Comany 2015 2014
£'000 £'000
Analysisofcurrenttaxrecognisedinprofitandloss
UKcorporationtaxat20.25%(2014:21.5%)
Taxonincomefortheperiod - (120)
Adjustmentinrespectofpriorperiods (530) 53
Total current tax credit (530) (67)
Reconciliation of effective tax rate 2015 2014
£'000 £'000
Profit/(loss)excludingtaxation 759 (745)
Currenttaxat20.25%(2014:21.5%) 154 (160)
Effectsof:
Expensesnotdeductiblefortaxpurposes 55 62
Pensioncostsnotimmediatelydeductible (121) (144)
Unrecognisedlossescarriedforward - 146
Taximpactofprioryearadjustment - 11
R&Dtaxcreditstooffsettradingprofits (20) -
R&Dtaxcreditsexchangedforcash (288) -
(over)/underprovidedinprioryear (242) 53
Capitalallowancesinexcessofdepreciation (68) (35)
Total current tax credit (see above) (530) (67)
TheCompanyhasclaimedR&Dtaxcreditsforyears2012,2013and2014.Aproportionofthesehavebeenusedtooffset
previouspaymentsofcorporationtaxandareclaimhasbeenprocessedbyHMRC.Thiselementisincludedintheover
provisionofprioryears.Afurtherelementhasbeenexchangedforcashastherearenolossestousethesecredits
against,thisamountof£288,000isshownseparately.TheCompanywillcontinuetoseektoclaimthesegoingforward,
whereappropriate,andwillonlyincludeanamountinrespectofthecurrentyearsuchthatitoffsetsanylikelytax
chargeontradingprofits.ThefullamountwillbeincludedonlyonceclaimedandreceivedfromHMRC.
123
FINANCIAL STATEMENTS
TheimplementationofFRS102andrelatedrestatementshavenotrequiredanychangetotheabovetaxcalculation
forcurrentorprioryear.
Factors that may affect future tax charges:
Adeferredtaxassetof£2,592,000(2014:£2,497,000)hasnotbeenrecognisedoneithertheCompany’spension
schemeliability,thepensionpaymentsarenotdeductibleuntilfutureyears.Thisisduetotheuncertaintyofthere
beingsufficienttaxableprofitsinfutureyearstoenablesuchtaxdeductionstobeclaimed.
9 INTANGIBLE FIXED ASSETS – GROUP AND COMPANY (RESTATED)
Assets under
Development Costs Construction Total
£'000 £'000 £'000
Cost
At1January2015 752 344 1,096
Additions 331 88 419
Transfers 344 (344) -
Disposals - - -
At 31 December 2015 1,427 88 1,515
Amortisation
At1January2015 96 - 96
Chargefortheyear 224 - 224
Disposals - - -
At 31 December 2015 320 - 320
Net book value
At 31 December 2015 1,107 88 1,195
At1January2015 656 344 1,000
InlinewiththeprovisionsofFRS102,theabovebalanceswereincludedintangiblefixedassetspreviouslyand
havenowbeenreclassifiedasintangiblefixedassetsastheyrelatetocomputerdevelopmentcosts.
Thesecostsareeitheramortisedover4yearsforexternaldevelopmentorovertheremaininglifeofthe
contracttowhichthedevelopmentrelates.Thismethodofamortisationisbelievedtobefairandappropriate
andrepresenttheusefuleconomiclifeoftheassetinthemostappropriatemanner.Theamortisationcharge
isincludedwithadministrativeexpenses.
124
10 TANGIBLE FIXED ASSETS – GROUP AND COMPANY (RESTATED)
Leasehold Fixtrues, fittings
improvements and office equipment Total
£'000 £'000 £'000
Cost
At1January2015 1,146 2,916 4,062
Additions 4 255 259
Transfers - - -
Disposals - (181) (181)
At 31 December 2015 1,150 2,990 4,140
Depreciation
At1January2015 974 2,467 3,441
Chargefortheyear 82 225 307
Disposals - (180) (180)
At 31 December 2015 1,056 2,512 3,568
Net book value
At 31 December 2015 94 478 572
At1January2015 172 449 621
InlinewiththeprovisionsofFRS102,theabovebalancespreviouslyincluded£1,000,000whichhasnowbeenreclassified
asintangiblefixedassetsastheyrelatetocomputerdevelopmentcosts.Thisisshowninnote9.
125
FINANCIAL STATEMENTS
11 FIXED ASSET INVESTMENTS - COMPANY
Shares in Group
Undertakings Total
£'000 £'000
Cost
At1Januaryand31December2015 4,004 4,004
Provision
At1Januaryand31December2015 (400) (400)
Net book value
At 1 January and 31 December 2015 3,604 3,604
The Company has the following direct investments:
Country of Number of Class of Ownership 2015 Ownership 2014
incorporation shares shares held % %
BritishHorseracing
DatabaseLimited UK 4,003,932 Ordinary 100 100
BritishHorseracingLimited* UK 2 Ordinary 100 100
BritishHorseracing
BoardLimited* UK 2 Ordinary 100 100
HorseracingRegulatory
AuthorityLimited* UK 1,000 Ordinary 100 100
Thethreecompaniesmarkedwith*arealldormantcompaniesandnolongertrade.
The Company has the following indirect investments through its subsidiaries:
Country of Number of Class of Ownership 2015 Ownership 2014
incorporation shares shares held % %
RacingEnterprisesLimited UK 4,003,932 Ordinary 99.99985 99.99985
BritishChampionsSeriesLimited UK 132 Ordinary 13.9 13.9
126
12 DEBTORS
Group Company
2015 2014 2015 2014
£'000 £'000 £'000 £'000
Tradedebtors 4,002 3,819 3,463 3,162
Amountsowedbygroup
undertakings - - 466 335
Corporationtaxasset 267 159 246 145
Otherdebtors 3,560 1,638 3,550 1,638
AmountsowedbyBCSLimited 2,302 2,391 - -
Prepaymentsandaccruedincome 682 680 676 675
10,813 8,687 8,401 5,955
Duewithinoneyear 8,602 6,396 8,401 5,955
Dueafteroneyear 2,211 2,291 - -
10,813 8,687 8,401 5,955
Includedwithinotherdebtorsisabalanceof£325,000(2014:£500,000)whichhasbeenfullyprovidedforandthereforehas
anetcarryingvalueof£nil(2014:£nil).Arepaymentof£175,000wasreceivedduringtheyearinrelationtothisbalance.
Theaboveloanbalanceof£2,302,000representsanamountdrawndownbyBCS.Thisloanwillberepaidbetween1
January2016and31December2025overwhichtimeinterestof£486,000willhavebeenearned.Theinterestrate
chargedvariesaccordingtowhichelementoftheloanitrelatesto.Thefirstrepaymentof£91,000isscheduledfor2016.
TheloantoBCSLimitedisstatedatfairvaluecalculatedusinganinterestratewhichthedirectorsbelieveaccurately
representsamarketrate.Allotherfinancialinstrumentsareheldatfairvalueastheyarerepayableondemand.
127
FINANCIAL STATEMENTS
13 CASH
Includedwithinthecashbalancearethefollowingringfencedbalances:
Group and Company
2015 2014
£'000 £'000
EarlyClosingmonies 522 483
DevelopmentFund 191 291
OnCoursephysios 15 12
BritishOwnersandBreedersIncentiveScheme 506 677
Plus10bonusscheme 2,631 2,187
BHAGrantScheme 520 28
Trainersbenevolentfund 20 -
Industryrecruitmentandtraininggrantfund 420 -
Prizemoneyduefordistribution 1,522 1,380
6,347 5,058
14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group Company
2015 2014 2015 2014
£'000 £'000 £'000 £'000
Tradecreditors 3,153 2,651 2,906 2,305
Amountsowedtogroup
undertakings - - 239 20
Ringfencedfunds(note13) 6,347 5,058 6,347 5,058
Corporationtax - 68 - 68
Othertaxesandsocialsecurity 277 587 277 577
Othercreditors 5,402 4,296 5,325 4,243
Accrualsanddeferredincome 1,232 1,383 1,232 1,373
16,411 14,043 16,326 13,644
Allfinancialinstrumentsareheldatfairvalueandarepayableondemand.
128
15 CARRYING AMOUNT OF FINANCIAL INSTRUMENTS - GROUP
The carrying amounts of the financial assets and liabilities include:
2015 2014
£'000 £'000
Assetsmeasuredatfairvaluethroughprofitorloss 10,546 8,528
Liabilitiesmeasuredatfairvaluethroughprofitorloss 10,262 8,330
AlloftheGroup’sassetsandliabilitiesareheldatfairvalue.Inthecaseofdebtorsthisisthesameasbookvalueasthe
debts,withtheexceptionoftheloanfromRELtoBCS,arerepayableondemand.Similarlyallliabilitiesareheldatfair
valueastheyarepayableondemand.
InrelationtotheloanfromRELtoBCSthefairvaluehasbeendeterminedbyreviewinganappropriaterateofborrowing
availablebothatthetimeoftheinitialloanbeinggrantedin2011andwhentheloanwasextendedandrenegotiatedin
2013.GiventhatBCSisjointlyownedbyacombinationofthegroup(whoown13.9%)andotherlargerracecoursesand
racecoursegroups,itisreasonableindetermininganappropriatediscountratetoreviewthemajorshareholdersability
toborrowasawayofassessinghowtovaluetheloan.UsingavarietyofindicatorsincludingLIBORplus0.8%,LIBORplus
2.5%andtheinterestrateonloanavailablefromwithintheRacingindustry,averagingthesesourcesgivesarateof3.25%
whichhasbeenapplied.Usingthisratetodiscounttheloansgivesafairvalueinlinewiththeamountshowninnote12.
ThegroupbelievesthatthereisminimalcreditriskgiventhesuccessofBCSsinceinceptionandunlessthefirst
repaymentduein2016isnotmadeinaccordancewiththerepaymentplanthenitwillcontinuetotakeapositiveviewof
therecoverabilityandthereforefairvalueofthisloangoingforward.
129
FINANCIAL STATEMENTS
16 RESERVES - GROUP
Profit and
Capital reserve loss account Total
£'000 £'000 £'000
At1January2015 19 (3,436) (3,417)
Profitforthefinancialyear - 1,301 1,301
Remeasurementofthenetdefinedbenefitliability - (1,785) (1,785)
At 31 December 2015 19 (3,920) (3,901)
Reserves - Company Profit and
Capital reserve loss account Total
£'000 £'000 £'000
At1January2015 19 (3,471) (3,452)
Profitforthefinancialyear - 1,289 1,289
Remeasurementofthenetdefinedbenefitliability - (1,785) (1,785)
At 31 December 2015 19 (3,967) (3,948)
17 PENSION SCHEME
Overview
TheCompanyoperatesapensionschemeforitsemployees,theBritishHorseracingAuthorityPensionScheme(‘the
Scheme’).TheSchemehastwosections,adefinedbenefitsectionwhichclosedtofutureaccrualon31December2015
andadefinedcontributionsectionintowhichallemployeesarenowmembers.Thedefinedcontributionsectionisalso
usedforthepurposesofautoenrolment.
Defined benefit section
Thedefinedbenefitsectionwasclosedtofutureaccrualon31December2015.Priortothis,thedefinedbenefitsection
hasbeenbaseduponcareeraveragerevaluedearnings.
ThelatestfullactuarialvaluationofthedefinedbenefitsectionoftheSchemewascarriedoutat31December2014and
wasupdatedforFRS17purposesto31December2015byaqualifiedindependentactuary.
130
Thecompanywillcontribute£1,158,000asanannualdeficitrepairpaymentin2016andhasarecoveryplanagreed
withthetrusteesoftheSchemethatisinplaceuntilSeptember2024.
ThetrusteesoftheSchemehaveaguaranteefromtheHorseraceBettingLevyBoard(HBLB)thatiftheBHAdoesnot
makeitsannualpaymentsforeithertheannualdeficitpaymentoritsongoingservicescontributionsthentheHBLB
willmakethesepayments.Thisguaranteeiseffectiveuntiltheearlierof30September2024orthedateatwhichthe
Schemedeficitusingthe2007actuarialassumptionshasbeenfullypaidoff.
InadditiontheEmployermeetsthecostsofadministeringtheScheme,thecostoflumpsumdeathinserviceinsurance
premiumsandLeviespayablebytheScheme.
Net pension liability:
Value at 31 Valueat31
December 2015 December2014
£'000 £'000
Definedbenefitobligation (72,126) (71,668)
Planassets 59,325 60,053
Deficit (12,801) (11,615)
Relateddeferredtaxasset - -
Netpensionliability (12,801) (11,615)
Movements in present value of defined benefit obligation:
Value at 31 Valueat31
December 2015 December2014
£'000 £'000
Atstartofyear 71,668 61,083
Currentservicecost 725 627
Interestcost 2,471 2,774
Actuariallosses/(gains)duetoassumptionchanges (3,758) 9,371
Experience(gain)/loss 3,147 -
Contributionsbymembers 14 13
Benefitspaid (2,141) (2,200)
Atendofyear 72,126 71,668
131
FINANCIAL STATEMENTS
Movements in fair value of plan assets:
Value at 31 Valueat31
December 2015 December2014
£'000 £'000
Atstartofyear 60,053 50,131
Interestonassets 2,094 2,295
Actuarialgain/(loss)onschemeassets (2,396) 8,040
Contributionsbyemployer 1,701 1,724
Contributionsbymembers 14 13
Benefitspaid (2,141) (2,200)
At end of year 59,325 60,053
Expense recognised in the profit and loss account:
31 December 2015 31December2014
£'000 £'000
Currentservicecost (725) (627)
Netinterestonnetdefinedbenefitliability (377) (479)
Total expense recognised in profit and loss (1,102) (1,106)
Thetotalamountrecognisedinothercomprehensiveincomeisalossof£1,785,000(2014:lossof£1,281,000).
Cumulativeactuariallossesreportedinothercomprehensiveincomeforaccountingperiodsendingonorafter
22June2002,arelossesof£15,860,000(2014:£14,075,000).
Scheme assets:
ThefairvalueoftheScheme’sassets,whicharenotintendedtoberealisedintheshorttermandmaybesubjectto
significantchangebeforetheyarerealised,were:
Value at 31 Valueat31
December 2015 December2014
£'000 £'000
Equitiesandotherreturnseekingassets 18,120 20,049
Bondsandotherdefensiveassets 39,902 38,808
Property 1,166 1,084
Cash 137 112
Total market value of assets 59,325 60,053
Actual return on plan assets (302) 10,385
132
The expected rates of return on the assets in the Scheme were:
Long term rate of return Longtermrateofreturn
31 December 2015 31December2014
% %
Equitiesandotherreturnseekingassets 6.50 6.50
Bondsandotherdefensiveassets 3.50 3.50
Property 6.50 6.50
Cash N/A N/A
Theweightedaverageexpectedlongtermreturnonplanassetsis3.5%(2014:3.5%).
Theoverallexpectedrateofreturniscalculatedbyweightingtheindividualratesinaccordancewiththeanticipated
balanceintheplan’sinvestmentportfolio.
The major assumptions used in this valuation by the actuary were (in normal terms):
31 December 2015 31December2014
% £'000
Rateofincreaseinsalaries 3.30 3.30
Inflation(ConsumerPriceIndex) 2.50 2.50
Inflation(RetailPriceIndex) 3.30 3.30
Rateofincreaseinpensionsinpayment 2.50 - 5.00 2.50-5.00
Discountrateappliedtoschemeliabilities 3.80 3.50
Invaluingtheliabilitiesofthepensionfundat31December2015,mortalityassumptionshavebeenmadeasindicatedbelow.
Theassumptionsrelatingtolongevityunderlyingthepensionliabilitiesatthebalancesheetdatearebasedonstandard
actuarialmortalitytablesandincludeanallowanceforfutureimprovementsinlongevity.
The assumptions are equivalent to expecting a 65-year old to live for a number of years as follows:
Currentpensioneraged65:22.8years(male),24.9years(female).
Futureretiree,currentlyaged45,uponreaching65:24.1years(male),26.4years(female).
Theassumptionsusedbytheactuaryarechosenfromarangeofpossibleactuarialassumptionswhich,duetothe
timescalecovered,maynotnecessarilybeborneoutinpractice.
133
FINANCIAL STATEMENTS
The history of the plans for the current and prior periods is as follows:
2015 2014 2013 2012 2011
£'000 £'000 £'000 £'000 £'000
Presentvalueofschemeliabilities (72,126) (71,668) (61,083) (61,689) (52,655)
Fairvalueofschemeassets 59,325 60,053 50,131 49,125 45,555
Deficit (12,801) (11,615) (10,952) (12,564) (7,100)
Experience adjustments:
Year ending Yearending Yearending
31 December 2015 31December2014 31December2013
Differencebetweentheexpectedandactualreturnonschemeassets:
Amount(£'000) (2,396) 8,090 (599)
Percentageofyearendschemeassets 4% 13% 1%
Experience(gains)andlossesonschemeliabilities:
Amount(£'000) 3,147 - (11)
Percentageofyearendschemeliabilities 4% - 0%
Totalamountrecognisedinothercomprehensiveincome:
Amount(£'000) (1,785) (1,281) 911
Percentageofyearendschemeliabilities 2% 2% 1%
TheCompanyandemployeesarepayingcontributionstothedefinedbenefitelementoftheschemeattherates
recommendedbytheSchemeActuary.Cashcontributionstothedefinedbenefitelementamountedto£1,706,461
totheSchemein2015(2014:£1,695,851).
Analysis of amount recognised in other comprehensive income:
Year ending Yearending Yearending
31 December 2015 31December2014 31December2013
£'000 £'000 £'000
Actuarialgainonschemeassets (2,396) 8,090 (599)
Changesinactuarialassumptions 3,758 (9,371) 1,499
Experiencegains/(losses) (3,147) - 11
Actuarial gain / (loss) recognised in other comprehensive income (1,785) (1,331) 911
134
Analysis of amount recognised in other comprehensive income (continued):
Year ending Yearending
31 December 2012 31December2011
£'000 £'000
Actuarialgainonschemeassets 1,599 1,696
Changesinactuarialassumptions (7,100) (2,544)
Experiencegains/(losses) (527) -
Actuarial gain / (loss) recognised in other comprehensive income (6,028) (848)
Defined contribution section
TheCompany’scontributiontothedefinedcontributionschemeischargedtotheprofitandlossaccountinthe
periodinwhichtheyarepaidandamountedto£692,486in2015(2014:£661,325).
InadditiontheCompanypaid£nilintothepersonalpensionschemesofcertainemployees(2014:£nil).
18 LIABILITY OF MEMBERS
ThefourmembersoftheCompanyhaveundertakentocontributeasumnotexceeding£1eachtomeettheliabilitiesof
theCompanyintheeventthatitiswoundup.
19 COMMITMENTS
TheGrouphasacontractwithWeatherbysThoroughbredLimitedfortheprovisionofsubstantialracingandgeneral
administrationserviceswhichexpiresattheendof2020.
At31December2015theGroupandCompanyhadannualcommitmentsundernon-cancellableoperatingleasesasfollows:
2015 2015 2014 2014
Land and Buildings Other LandandBuildings Other
£'000 £'000 £'000 £'000
Expiringwithinoneyear - 30 - 43
Expiringbetweenone
andfiveyearsinclusive 850 284 - 304
Overfiveyears - - 772 -
850 314 772 343
135
FINANCIAL STATEMENTS
In2015,theleasecommitmentsincludedinotherrelatetomotorcars.In2014,theleasecommitmentsinother
relatetomotorcarsandphotocopiers.
20 ANALYSIS OF NET FUNDS
At1January2015 CashFlow At 31 Decembeer 2015
£'000 £'000 £'000
Cashatbankandinhand 9,933 2,028 11,961
Shorttermdeposits 2,000 (1,230) 770
Total 11,933 798 12,731
21 RELATED PARTY TRANSACTIONS
ThedirectorsconsiderthatthedisclosuresrequiredbyFRS102ofthetransactionsandyearendbalancesbetweenthe
CompanyandentitieswhichformpartoftheBritishHorseracingAuthorityLimitedgroupwouldbedisproportionately
onerousandwouldservelittlepurposegiventheinformationisavailabletothemembersintheordinarycourseof
business.Accordingly,theyhavedecidednottodisclosesuchinformationintheseaccounts.
Identity of related parties with which the Company has transacted
Thecompanyhastransactedwiththefollowingrelatedparties,allofwhicharerelatedbyvirtueofoneoftheir
employeesbeingamemberoftheBoardoftheCompany.
RacecourseAssociationLimited
RacehorseOwnersAssociationLimited
ThoroughbredBreedersAssociation
FakenhamRacecourseLimited
NationalTrainersFederation–from19January2015
Horsemen’sGroup
BritishChampionsSeriesLimited
136
Other related party transactions:
Sales to Administrative expenses incurred from
2015 2014 2015 2014
£'000 £'000 £'000 £'000
RacecourseAssociationLimited 42 39 7 19
RacehorseOwnersAssociationLimited 140 80 - 2
ThoroughbredBreedersAssociation 19 2 - -
FakenhamRacecourseLimited 178 131 - -
NationalTrainersFederation 3 N/A - N/A
Horsemen’sGroup - - (175) -
BritishChampionsSeriesLimited - - - -
421 267 168 21
Receivables outstanding Creditors outstanding
2015 2014 2015 2014
£'000 £'000 £'000 £'000
RacecourseAssociationLimited 11 8 - -
RacehorseOwnersAssociationLimited 28 32 - -
ThoroughbredBreedersAssociation - - - -
FakenhamRacecourseLimited - - - -
NationalTrainersFederation - - - -
Horsemen’sGroup - - - -
BritishChampionsSeriesLimited 2,302 2,391 - -
2,379 2,445 - -
137
FINANCIAL STATEMENTS
22 EXPLANATION OF TRANSITION TO FRS 102 FROM OLD UK GAAP
Asstatedinnote1,thesearetheGroup’sfirstfinancialstatementspreparedinaccordancewithFRS102.Theaccounting
policiessetoutinnote1havebeenappliedinpreparingthefinancialstatementsfortheyearended31December2015
andthecomparativeinformationpresentedinthesefinancialstatementsfortheyearended31December2014.
InpreparingitsFRS102balancesheet,theGrouphasadjustedamountsreportedpreviouslyinfinancialstatements
preparedinaccordancewithitsoldbasisofaccounting(UKGAAP).Anexplanationofanychangesarisingduetothe
changefromUKGAAPtoFRS102issetoutbelow.Therehavebeennochangestoanyotherareas.
Balance sheet:
2014 2015
Effectof Effect of
transitionto transition to
UKGAAP FRS102 FRS102 UK GAAP FRS 102 FRS 102
Note £'000 £'000 £'000 £'000 £'000 £'000
Fixed assets
Intangibleassets 9 - 1,000 1,000 - 1,195 1,195
Tangibleassets 10 1,621 (1,000) 621 1,767 (1,195) 572
Debtorsfallingdue
aftermorethanoneyear 12 2,291 (2,291) - 2,211 (2,211) -
Current assets
Debtors 12 - 2,291 2,291 - 2,211 2,211
Net assets 3,912 - 3,912 3,978 - 3,978
Capital and reserves
DuetodifferencesbetweenFRS102andFRS17-RetirementBenefits,therehasbeenaprioryearadjustmenttothe
broughtforwardprofitandlossaccountwith£50,000beingreclassifiedasdistributablewhichhavepreviouslypassed
throughtheStatementofTotalRecognisedGainsandLosses.
138
139
FINANCIAL STATEMENTS
All figures within the document are correct as of time of print 06.06.16
Certain images within this publication are reproduced with the permission of Racingfotos Limited.
AnelectronicversionofthisbookletisavailableinPDFformatonourwebsite.
British Horseracing Authority75 High Holborn, London, WC1V 6LS
Switchboard:020 7152 0000Mediaenquiries:020 7152 0166
www.britishhorseracing.com
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