Racing Homes
Provision of affordable housing principally for those working in, or retired from, the horseracing and thoroughbred breeding industry.
Financial health, per its FY2024 accounts
The accounts state that the charity held total reserves of £12.5m, with free reserves of £471.6k against a policy target of £450k. However, the trustees note that the charity requires an additional £100k of income or cost savings annually to become financially self-sustaining and relies on grants from its parent charity, Racing Welfare, to fund maintenance works.
What the accounts disclose
“One employee earned between £60,000 and £70,000 in the year” — page 38
“One employee earned between £60,000 and £70,000 in the year” — page 38
“the increase due to restricted grants received from Racing Welfare towards the project in Middleham (£570k) and the planned maintenance programme (£121k).”
“The charity has a reserves policy, in line with its parent, to keep six months of property management costs in free reserves. This is estimated at £450k.” — page 20
“The Trustees note that the charity is forecast to require an additional £100k income or cost savings per year to become financially self-sustaining. However, as a strategy is developed to address this it has sufficient funds to continue at the same level of activity and investment for at least the next 3 years.” — page 20
“During the year total grants of £730.4k (2023: £22.9k) were received from Racing Welfare.”
“Jockey Club Estates Limited (JCE), a Jockey Club group company, provided maintenance and repairs services to Racing Homes during the year. Payments made to JCE in the year amounted to £203.1k” — page 45
“During the year total grants of £730.4k (2023: £22.9k) were received from Racing Welfare.”
“Jockey Club Estates Limited (JCE), a Jockey Club group company, provided maintenance and repairs services to Racing Homes during the year. Payments made to JCE in the year amounted to £203.1k” — page 45
“During the year total grants of £730.4k (2023: £22.9k) were received from Racing Welfare.”
“Jockey Club Estates Limited (JCE), a Jockey Club group company, provided maintenance and repairs services to Racing Homes during the year. Payments made to JCE in the year amounted to £203.1k” — page 45
“During the year total grants of £730.4k (2023: £22.9k) were received from Racing Welfare.”
“Jockey Club Estates Limited (JCE), a Jockey Club group company, provided maintenance and repairs services to Racing Homes during the year. Payments made to JCE in the year amounted to £203.1k” — page 45
“During the year total grants of £730.4k (2023: £22.9k) were received from Racing Welfare.”
“Jockey Club Estates Limited (JCE), a Jockey Club group company, provided maintenance and repairs services to Racing Homes during the year. Payments made to JCE in the year amounted to £203.1k” — page 45
Year-over-year changes
- Going concern: no going-concern doubt (FY2023) → going-concern doubt noted (FY2024).
Funders the charity credits
- The Jockey Club
- 4Racing
- Arena Racing Company
- Arabian Racing Organisation
- Ascot Racecourse Supports
- Bedmax
- Betfair
- Careers in Racing
- CNG Switch
- European Bloodstock News
- Fielding and Nicholson
- Global Group Racing
- Godolphin
- Goffs UK
- The Good Racing Co
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Eileen Jordan
- JOHN WILLIAM MARSHALL BARLOW
- Nicholas William Ayrton Bannister
- SIMON RICHARD HOPE
- Simon Stockley
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.7m | £1.4m |
| 31/12/2023 | £1.1m | £1.3m |
| 31/12/2022 | £1.1m | £1.1m |
| 31/12/2021 | £1.1m | £897k |
| 31/12/2020 | £1.6m | £911k |
Common questions
Is Racing Homes financially healthy?
Per its FY2024 accounts: The accounts state that the charity held total reserves of £12.5m, with free reserves of £471.6k against a policy target of £450k. However, the trustees note that the charity requires an additional £100k of income or cost savings annually to become financially self-sustaining and relies on grants from its parent charity, Racing Welfare, to fund maintenance works. Its FY2024 accounts were audited by Price Bailey LLP.
What does the highest-paid employee of Racing Homes earn?
Per its FY2024 accounts, the highest-paid employee was in the £60,001 - £70,000 band, and 1 employees earned over £60,000.
Who funds Racing Homes?
Funders whose own accounts filings name Racing Homes as a grant recipient include RACING WELFARE.
Shared trustees with funders
- Nicholas William Ayrton Bannister — trustee here and at RACING WELFARE
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| RACING WELFARE | FY2024 | £730k | Grant funding to subsidiary charity |
| RACING WELFARE | FY2023 | £26k | Grants paid to connected charity Racing Homes |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE RACING FOUNDATION | 3 | £3.7m |
| THE THOMPSON FAMILY CHARITABLE TRUST | 2 | £2.4m |
| SIR PETER O'SULLEVAN CHARITABLE TRUST | 2 | £105k |
| The Trevor Hemmings Foundation | 2 | £54k |
| PAYNE GALLWEY 1989 CHARITABLE TRUST | 2 | £15k |
| PETPLAN CHARITABLE TRUST | 2 | £13k |
| THE HOBSON CHARITY LIMITED | 2 | £10k |
| RETRAINING OF RACE HORSES | 1 | £177k |
Charities like this
- RACING WELFARE
- RETRAINING OF RACE HORSES
- THE RACING CENTRE LTD
- GREATWOOD CHARITY LIMITED
- NEW BEGINNINGS HORSES
- HOPTON REHAB & HOMING CENTRE
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| Racing Homes | £1.7m | £60,001 - £70,000 | 1 | above | — | noted |
| RACING WELFARE | £4.3m | — | — | unclear | — | no doubt |
| RETRAINING OF RACE HORSES | £1.3m | £120,001 - £130,000 | 1 | unclear | — | no doubt |
| THE RACING CENTRE LTD | £368k | — | 0 | unclear | — | no doubt |
| GREATWOOD CHARITY LIMITED | £851k | — | 0 | unclear | — | no doubt |
| NEW BEGINNINGS HORSES | £414k | — | 0 | unclear | — | no doubt |