THE NATIONAL HORSERACING MUSEUM

Charity number: 283656
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

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.

Income and expenditure

Data for financial year ending 31 December 2023

Total income:
£1,157,807

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Donations and legacies £605.00k
Charitable activities £203.15k
Other trading activities £205.24k
Investments £144.42k
Other £0

Total expenditure:
£1,464,208

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Raising funds £172.58k
Charitable activities £1.29m
Other £0

-£157,971 investments gains (losses)

Total income includes £7,534 from 5 government grant(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

Text alternative for this canvas graphic is in the data table below.
Raising funds and other expenditure £172.58k
Charitable expenditure £1.29m

People

27 Employee(s)

11 Trustee(s)

80 Volunteer(s)

Employees with total benefits over £60,000

No employees have total benefits over £60k for this charity

Fundraising

No information available

Trading

One or more trustees are also directors of the subsidiaries

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

What the charity does:
  • Education/training
  • Arts/culture/heritage/science
  • Environment/conservation/heritage
Who the charity helps:
  • The General Public/mankind
How the charity helps:
  • Provides Buildings/facilities/open Space
  • Provides Advocacy/advice/information
  • Sponsors Or Undertakes Research
  • Acts As An Umbrella Or Resource Body
Where the charity operates:
  • Cambridgeshire
  • Suffolk

Governance

Registration history:
  • 19 November 1987: Standard registration
  • 10 November 2021: Funds received from 1108514 HOME OF HORSERACING TRUST
  • 30 October 2023: Funds received from 291154 THE FRIENDS OF THE NATIONAL HORSERACING MUSEUM
Organisation type:
Charitable company
Other names:

No other names

Company number:
01592031 Open in new window
Gift aid:
Recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Bullying and harassment policy and procedures
  • Campaigns and political activity 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
Land and property:
This charity owns and/or leases land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

11 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
Hon Frances Caroline Stanley Chair 01 September 2017
None on record
David Allan Thorpe Trustee 10 November 2024
RETRAINING OF RACE HORSES
Received: On time
Michael Sutherill Trustee 01 August 2024
Historic Suffolk
Received: On time
Paul Ogburn Trustee 28 April 2022
None on record
Adam Signy Trustee 28 April 2022
None on record
Jonathan Benson Trustee 29 April 2021
None on record
Brian Peter Finch Trustee 29 April 2020
None on record
Nicholas Edward Francis Luck Trustee 05 February 2020
None on record
PAUL TAIANO Trustee 05 February 2020
None on record
Annette Julie Green Trustee 05 November 2019
None on record
John Henry Chatfeild-Roberts Trustee 15 January 2019
THE BRITISH SPORTING ART TRUST
Received: On time

Financial history

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Financial period end date

Income / Expenditure 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Total gross income £2.36m £1.91m £1.81m £1.66m £1.16m
Total expenditure £1.90m £1.79m £1.44m £1.61m £1.46m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants N/A £200.14k £252.29k £12.00k £7.53k
Income - Donations and legacies £1.85m £1.39m £1.21m £1.17m £605.00k
Income - Other trading activities £258.30k £78.60k £110.39k £181.70k £205.24k
Income - Charitable activities £162.72k £67.35k £137.18k £179.36k £203.15k
Income - Endowments £0 £500.00k £500.00k £240.98k £0
Income - Investment £91.87k £87.31k £107.05k £111.53k £144.42k
Income - Other £0 £285.13k £252.29k £12.00k £0
Income - Legacies £0 £20.00k £0 £0 £0
Expenditure - Charitable activities £1.58m £1.44m £1.24m £1.41m £1.29m
Expenditure - Raising funds £318.37k £342.08k £202.74k £197.80k £172.58k
Expenditure - Governance £1.46m £0 £1.20m £1.35m £0
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £0 £0 £11.29k £16.09k £0
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Own use assets £13.74m £13.49m £13.67m £13.39m £13.22m
Long-term investments £2.81m £2.66m £2.94m £4.01m £4.16m
Other assets £1.34m £1.45m £1.78m £878.01k £762.30k
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £203.46k £109.83k £103.26k £220.46k £280.83k

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 December 2023 21 October 2024 On Time
Accounts and TAR 31 December 2023 21 October 2024 On Time Download Open in new window
Annual return 31 December 2022 31 October 2023 On Time
Accounts and TAR 31 December 2022 31 October 2023 On Time Download Open in new window
Annual return 31 December 2021 08 August 2022 On Time
Accounts and TAR 31 December 2021 08 August 2022 On Time Download Open in new window
Annual return 31 December 2020 03 November 2021 3 days late
Accounts and TAR 31 December 2020 05 October 2021 On Time Download Open in new window
Annual return 31 December 2019 23 October 2020 On Time
Accounts and TAR 31 December 2019 23 October 2020 On Time Download Open in new window
Submit annual return Open in new window

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES OF ASSOCIATION INCORPORATED 16TH OCTOBER 1981, AS AMENDED BY SPECIAL RESOLUTION DATED 14 OCTOBER 2004 as amended on 06 Jan 2021 as amended on 29 Jan 2021

Charitable 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.

Area of benefit

The area the charity can operate in, as set out in its governing document.

NOT DEFINED

Contact information

Address:
National Horse Racing Museum
Palace House
Palace Street
NEWMARKET
CB8 8EP
Phone:
01638667314
Email:
accounts@nhrm.co.uk
Website:

www.nhrm.co.uk Open in new window