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The Racing Welfare group consists of the following entities:

Racing Welfare (Company number 04116279) (Charity number 1084042)

Our activities include providing counselling and advice services to beneficiaries who work in, or are retired from, the horseracing and thoroughbred breeding industry as well as financial assistance, affordable housing and various services to promote healthy living and well-being among beneficiaries. Our sole member is The Jockey Club (a company governed by royal charter, company number RC000287).

Racing Homes (Company Number 06489067) (Charity number 1122961)

Our housing charity. It provides affordable housing for those working in, or retired from, the horseracing and thoroughbred breeding industry. Its sole member and sole Trustee is Racing Welfare.

The Rous Charity (Charity number 1068581)

The smallest charity in the group, it provides almshouses for the benefit of retired staff who formerly worked in the horseracing industry. Racing Homes is its sole Trustee.

Racing Welfare (Enterprises) Limited (Company number 02948569)

The group’s trading subsidiary, its sole shareholder is Racing Welfare.

Group Structure:

The most recent financial statements can be found here:


The Board of Trustees administers the charities and delegates day-to-day running to our Chief Executive supported by our Chief Operating Officer and Director of Welfare. The main board meets at least three times a year for a full board meeting and sub-committees are used to concentrate on key projects to bring value to the development of the organisation and support the full board.

Racing Homes has its own board of trustees, most of which are also trustee of Racing Welfare.

Each committee is comprised of at least three trustees along with non-trustee committee members. The committee members have been selected on the basis of their particular interest and skills in the business of the respective committee. Each committee has been assigned specific terms of reference, with decisions on policy and strategy being referred to the main Board of Trustees for approval.

Finance, Investment & Audit Committee

The committee is responsible for the review of the operational plans and budgets, the setting and monitoring of investment policy, reviewing the effectiveness of internal controls and risk management systems, remuneration, the monitoring and oversight of external auditors and the integrity of the internal financial reporting and the group’s consolidated financial statements.

Welfare Committee

The committee is responsible for the review of welfare policy, plans and budgets, the monitoring of welfare trends, the balance of skills and resources needed to implement the plans and policy and for reviewing complex cases.

Fundraising Committee

The committee is responsible for the review of income generation policy, plans and budgets and the oversight of the fundraising and communications programme. In particular, it provides a means of mobilising support for events and establishing effective links with potential donors.

Governance Committee

The committee is responsible for assisting the board of trustees in meeting its responsibilities in relation to the governance of the organisation, compliance with company and charity law and good practice. In particular, the committee is tasked with enacting practical and meaningful adoption of the Charity Governance Code, monitoring changes to the recommendations from the

Charity Commission and setting best practice in governance


Racing Welfare has committed to becoming a leader in charity governance in both the horseracing industry and third sector. The trustees have fully adopted the Charity Governance Code (CGC) and with the support of the Governance Committee have been driving positive in this area.

As part of the adoption of the CGC we have aligned ourselves with its seven pillars, regularly reviewing how we fare against them and what we can do to continually improve.

An initial review of our performance highlighted that whilst we were doing a lot very well, there were areas of all seven pillars we were able, and continue, to improve.


What we were already doing well What we have done to improve
Clear description on our website Expanded Trustees’ Report, including illustrating how we are achieving our purpose
Organisational purpose stated in our financial statements Annual review which goes further in explaining how our purpose has resulted in impact
Integrated into the charity’s three-year business plan


What we were already doing well What we have done to improve
Trustees clearly listed on our website along with a short bio of each Better communicated our leadership structure by: describing our group corporate structure, board and committee structure and the purpose and remit of subcommittees in the financial statements and on our website.
Staff structure, and staff bios, clearly visible on our website The board have approved a trustee performance evaluation process which will, on an annual basis, help ensure all trustees are contributing to the board’s effective leadership.


What we were already doing well What we have done to improve
Annual Trustee related party and conflict of interest declarations In addition to the adoption of the CGC, the group has also chosen to adopt a number of other voluntary standards or codes of conduct. They include gaining the Safe Award for exceptional standards in safeguarding, adopting the Fundraising Regulator’s code of practice and becoming a Matrix-accredited organisation for high quality IAG services.
Trustee expenses policy in place and regularly reviewed by management Annual related party and conflict of interest declarations for the Executive team
Conflicts of interest has been implemented as the first item on every agenda for every board and committee meeting


What we were already doing well What we have done to improve
Up-to-date risk register regularly reviewed and challenged by the Finance, Investment and Audit Committee and quarterly review by SMT We have introduced a risk register stress test, whereby one trustee is asked before each main board meeting to select a risk. The executive then have 24 hours to provide evidence that the controls are being properly and fully implemented. The trustee reports their findings back to the rest of the board.
Relevant risks are integrated into our three-year business plan
Strong internal financial controls
All trustees decisions minuted


What we were already doing well What we have done to improve
A comprehensive trustee induction process is in place Six new committee members have been recruited to fill skills gaps identified in 2020
The induction process is explained in the financial statements The recruitment search intentionally went beyond the racing industry to encourage applicants from all backgrounds and has resulted in committees with a broader age range and wider diversity of thought
A skills audit was undertaken in 2020 to identify gaps in experience and expertise on each subcommittee We have worked hard to improve the efficiency of board and committee meetings. We have retained the use of online meetings which increases attendance and reduces length, but also recognise there is value in keeping some in-person meetings of which each committee and main board will have one per year.
Our board papers have also taken on a new look. Each paper is now preceded with a standard summary so that each trustee is able to easily identify the purpose of the paper, what they need to do with the information and whether they want to delve into the detail if it is in their area of expertise or interest. It has led to much more concise, productive and effective discussions. New software has been introduced to make accessing and reading papers and easier and less demanding proposition.


What we were already doing well What we have done to improve
As a charity we have a section in the staff handbook o diversity, inclusion and equality This is an area we have made efforts to better communicate, through our trustees report and annual review, what we have achieved and what our plans are to continue to improve.
We have recently appointed a D&I champion to help drive forward change in the charity The Governance Committee is actively promoting diversity at board level, with trustees undertaking D&I training
We have plans to update our governing documents to make them gender-neutral and to equalise the gender split of the board in future committee member recruitment drives.


What we were already doing well What we have done to improve
Trustees clearly listed on our website along with a short bio of each Communication of what we currently do has been key focus here.
Our privacy policy can be easily found on our website We have reviewed the process for setting salaries of the senior management team and executive team, which is now fully disclosed in our financial statements and on our website.
We have a formal complaints procedure in place which can be found on our website Racing Homes has put together a tenant focus group, to improve communication with tenants including regular surveys and opportunities to join staff on property inspections.


Racing Welfare is developing its Diversity, Inclusion and Equality agenda. Our Diversity and Inclusion (D&I) champion is actively working with senior management team to help ensure that nurturing a diverse and inclusive working environment, where we attract the full range of talent and everyone can be themselves, is embedded within all processes and policies within the charities.

The D & I Champion is also a member of the Jockey Club’s Equality, Diversity and Inclusion Group.

The charity has developed and adopted a salary structure and package which are internally consistent and are comparable with other charities in the sector and which recognise performance.

The Finance, Investment and Audit Committee is responsible for the remuneration terms and conditions of the Chief Executive and general pay and remuneration terms of all employees, including the senior management team. When setting pay and annual pay awards, reference is made to salary surveys and industry benchmarks. Subject to affordability, the charity’s policy has been to award an annual pay rise consistent with increases in cost of living indices and having regard to the level of pay award agreed by the Jockey Club. Day to day recruitment and pay for staff is delegated to the Chief Executive.


The charity is conscious of monitoring the environmental impact that it makes. We have a green champion that sits on the Jockey Club’s Green Champion Board and the trustees are prioritising ESG

(Environmental, social and governance).

Racing Homes and Racing Welfare are making the first steps in creating a decarbonisation strategy for the group by working with Jockey Club Estates in an externally provided review of the business. The trustees are committed to becoming carbon neutral by 2050.