NSW THOROUGHBRED RACING BOARD - Racing NSW

Statement of Financial Performance
NSW THOROUGHBRED RACING BOARD ABN 86 281 604 417
FOR THE YEAR ENDED 30 June, 2003
Note 2003 2002
$ $
REVENUE
Revenue from Operating Activities
Sale of Goods - Publications 6(i) 838,192 873,616
Sale of Services 6(ii) 12,883,617 11,118,927
First Charge 6(iii) 11,122,202 10,153,766
24,844,011 22,146,309
Revenue from Non Operating Activities
Proceeds Disposal of Assets 6(iv) 141,154 84,426
Movement in net market value of
Land and Buildings integral to insurance activities 871,020 –
Interest other parties 6(v) 350,497 315,289
1,362,671 399,715
REVENUE FROM ORDINARY ACTIVITES 26,206,682 22,546,024
EXPENSES
Administration 6(vi) 5,077,625 5,107,232
Licensing 6(vii) 208,187 267,146
Provincial Associations 6(viii) 118,902 111,896
Race Results 6(ix) 90,366 102,433
Cost of Goods Sold - Publications 6(x) 800,701 986,824
Laboratory 6(xi) 2,304,470 2,184,456
Handicapping 6(xii) 427,863 535,404
Stewards 6(xiii) 2,884,600 2,662,801
Veterinary 6(xiv) 712,433 647,605
Syndicates 6(xv) 186,155 177,596
Media 6(xvi) 207,299 272,830
Industry Training 6(xvii) 421,700 342,398
Stakes Payments 6(xviii) 455,156 403,211
Information Technology 6(xix) 1,573,077 1,298,544
Racing Office 6(xx) 205,601 –
Insurance 6(xxi) 7,767,093 10,466,843
Movement in net market value of
investments integral to insurance activities 201,712 528,281
Borrowing Costs 6(xxii) 199,704 158,591
EXPENSES FROM ORDINARY ACTIVITIES 23,842,644 26,254,091
Share of net losses of partnership accounted for using the equity method 3,854 93,483
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES
BEFORE INCOME TAX EXPENSE 6(xxiii) 2,360,184 (3,801,550)
INCOME TAX EXPENSE RELATING TO ORDINARY ACTIVITIES – –
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES AFTER INCOME TAX 2,360,184 (3,801,550)
TOTAL CHANGES IN EQUITY OTHER THAN THOSE RESULTING
FROM TRANSACTIONS WITH OWNERS AS OWNERS 20 2,360,184 (3,801,550)
The accompanying notes form part of these Financial Statements.
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