THE NATIONAL HORSERACING MUSEUM
To promote public interest in the preservation of all articles as are of historical or scientific interest in connection with racehorses and persons connected with racehorses. To enlarge the Museum's network of partnerships within the education, racing industry and museums sector to mutual benefit.
Objects
The Museum's objects are restricted specifically, only for the public benefit to promote public interest in the preservation of all articles as are of historical or scientific interest in connection with racehorses and persons and places connected with racehorses and the art of other sports generally, principally through the running of the National Heritage Centre for Horseracing and Sporting Art at Palace House, and to preserve and care for the heritage and buildings making up the Palace House complex and in furtherance of this object.
Financial health, per its FY2025 accounts
The accounts state that free reserves were £25,360, which is significantly below the trustees' stated target of £350,000, representing a shortfall of £324,640. The group reported a net expenditure of £108,860 for the year, supported by a transfer of £200,000 from expendable endowment funds to unrestricted funds. Despite a slow decline in admissions income, the trustees maintain that the charity has adequate resources to continue in operational existence for the foreseeable future.
What the accounts disclose
“The free reserves target level of £350,000, which equates to approximately four months of operational costs based on the annual operating cost budget.” — page 8
“The Charitable Company is a member of Discover Newmarket, a community interest company (registration number 09362242). During the year income of £15,973, (2024: £16,039) was received from this association in the form of admissions and cafe revenue and purchases in the year totalled £35,402 (2024: £44,510). At the year end, a balance of £2,979 (2024: £7,546) was owed by the group.” — page 10
“During the year the Charitable Company recharged costs of £88,428, (2024: £67,534) to its subsidiary Palace House Trading Ltd. At the year end, a balance of £73,434 (2024: £68,500) was owed by the subsidiary and was recognised in debtors of the Charitable Company. A further balance of £309,110 (2024: £309,110) owed by the subsidiary has been provided against. During the year there was a management charge totalling £28,980 (2024: £34,822) between the Charitable Company and its subsidiary Palace House Trading Ltd.” — page 52
“The Charitable Company is a member of Discover Newmarket, a community interest company (registration number 09362242). During the year income of £15,973, (2024: £16,039) was received from this association in the form of admissions and cafe revenue and purchases in the year totalled £35,402 (2024: £44,510). At the year end, a balance of £2,979 (2024: £7,546) was owed by the group.” — page 10
“During the year the Charitable Company recharged costs of £88,428, (2024: £67,534) to its subsidiary Palace House Trading Ltd. At the year end, a balance of £73,434 (2024: £68,500) was owed by the subsidiary and was recognised in debtors of the Charitable Company. A further balance of £309,110 (2024: £309,110) owed by the subsidiary has been provided against. During the year there was a management charge totalling £28,980 (2024: £34,822) between the Charitable Company and its subsidiary Palace House Trading Ltd.” — page 52
“The National Horseracing Museum holds 100% of the issued share capital of Palace House Trading Limited, a company registered in England and Wales.” — page 10
Policies the charity declares
- Bullying and harassment policy and procedures
- Campaigns and political activity policy and procedures
- Complaints policy and procedures
- Engaging external speakers at charity events policy and procedures
- Financial reserves policy and procedures
- Internal charity financial controls policy and procedures
- Internal risk management policy and procedures
- Investing charity funds policy and procedures
- Investment
- Paying staff
- Risk management
- Safeguarding policy and procedures
- Safeguarding vulnerable beneficiaries
- Serious incident reporting policy and procedures
- Social media policy and procedures
- Trustee conflicts of interest policy and procedures
- Trustee expenses policy and procedures
- Volunteer management
From the charity’s annual return (Part A, self-declared)
Self-declared on the annual return for the financial year ending 31/12/2025
- Volunteers: 80
- Government income: £17,156 — grants £17,156 (6); 2% of the £882,614 total gross income on the same return
- Has a trading subsidiary
Self-declared on the annual return for the financial year ending 31/12/2024
- Volunteers: 70
- Government income: £5,174 — grants £5,174 (4); under 1% of the £1,022,162 total gross income on the same return
- Has a trading subsidiary
Self-declared on the annual return for the financial year ending 31/12/2023
- Volunteers: 80
- Government income: £7,534 — grants £7,534 (5); under 1% of the £1,157,807 total gross income on the same return
- Has a trading subsidiary
Leadership, per the charity’s website
- The Hon. Frances Stanley DL — Chairman of the Board
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/12/2025)
Register events
- Received assets from another charity (30/10/2023)
- Received assets from another charity (10/11/2021)
Trustees
- Hon Frances Caroline Stanleychair
- Adam Signy
- David Allan Thorpe
- Dr Hamid Amouzad Khalili
- John Henry Chatfeild-Roberts
- Johnny Eddis
- Jonathan Benson
- Michael Sutherill
- Nicholas Edward Francis Luck
- PAUL TAIANO
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £883k | £1.4m |
| 31/12/2024 | £1.0m | £1.5m |
| 31/12/2023 | £1.2m | £1.5m |
| 31/12/2022 | £1.7m | £1.6m |
| 31/12/2021 | £1.8m | £1.4m |
Common questions
Is THE NATIONAL HORSERACING MUSEUM financially healthy?
Per its FY2025 accounts: The accounts state that free reserves were £25,360, which is significantly below the trustees' stated target of £350,000, representing a shortfall of £324,640. The group reported a net expenditure of £108,860 for the year, supported by a transfer of £200,000 from expendable endowment funds to unrestricted funds. Despite a slow decline in admissions income, the trustees maintain that the charity has adequate resources to continue in operational existence for the foreseeable future. Its FY2025 accounts were audited by Larking Gowen LLP.
Who funds THE NATIONAL HORSERACING MUSEUM?
Funders whose own accounts filings name THE NATIONAL HORSERACING MUSEUM as a grant recipient include THE THOMPSON FAMILY CHARITABLE TRUST, THE RACING FOUNDATION, THE PACKARD FOUNDATION, E B M CHARITABLE TRUST, THE ERANDA ROTHSCHILD FOUNDATION.
Known funders
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 27/07/2020 | £153k | "COVID19: National Horseracing Museum" |
| The National Lottery Heritage Fund | 14/06/2018 | £250k | "National Heritage Centre, Palace House Commercial Resilience Project" |
| The National Lottery Heritage Fund | 21/05/2013 | £1.0m | "National Horseracing Museum Endowment Fund" |
| The National Lottery Heritage Fund | 24/05/2011 | £5.0m | "Palace House & Stables: Home of Horseracing National Heritage Centre" |
| The National Lottery Heritage Fund | 19/05/2011 | £46k | "Palace Voices" |
| The National Lottery Heritage Fund | 07/09/2004 | £48k | "Hold Your Horses" |
| The National Lottery Heritage Fund | 03/02/1999 | £30k | "Essential Horse, National Horseracing Museum" |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| JOHN PEARCE FOUNDATION | 2 | £355k |
| THE JULIA RAUSING TRUST | 1 | £761k |
| THE MASTER CHARITABLE TRUST | 1 | £733k |
| RETRAINING OF RACE HORSES | 1 | £208k |
| SIR PETER O'SULLEVAN CHARITABLE TRUST | 1 | £64k |
| KUSUMA TRUST UK | 1 | £50k |
| JOHN ELLERMAN FOUNDATION | 1 | £25k |
| The Trevor Hemmings Foundation | 1 | £25k |
Charities like this
- National Horseracing College Limited
- RETRAINING OF RACE HORSES
- THE NATIONAL PONY SOCIETY
- AVIATION HERITAGE FOUNDATION LIMITED
- MUSEUM OF BRANDS
- THE MUSEUMS ASSOCIATION
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| THE NATIONAL HORSERACING MUSEUM | £883k | — | 0 | unclear | — | no doubt |
| National Horseracing College Limited | £3.9m | £120,001 - £130,000 | 4 | below | — | no doubt |
| RETRAINING OF RACE HORSES | £2.5m | £120,001 - £130,000 | 2 | unclear | — | no doubt |
| THE NATIONAL PONY SOCIETY | £669k | — | 0 | unclear | — | no doubt |
| AVIATION HERITAGE FOUNDATION LIMITED | £34k | — | 0 | unclear | — | no doubt |
| MUSEUM OF BRANDS | £851k | — | 0 | below | — | no doubt |