ANNUAL REPORT 2011 - Horse Racing Ireland

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GROUP STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSESFOR THE YEAR ENDED 31 DECEMBER 20112011 2010Notes €’000 €’000(Deficit) / Surplus for the financial year (7,580) 1,838Movement on pension schemeActuarial loss recognised in the pension scheme 27 (2,523) (167)Reclassification of investment propertiesSurplus on revaluation of investment properties 26 2,846 -Write back of depreciation 26 717 -Total recognised gains or losses for the year (6,540) 1,671The Statement of Accounting Policies and notes 1 to 34 form part of these financial statements.Denis Brosnan, Roderick Ryan, 6th July 2012Chairperson Vice Chairperson Date32 Horse Racing Ireland Annual Report 2011
GROUP BALANCE SHEETAS AT 31 DECEMBER 20112011 2010Notes €’000 €’000Fixed assetsTangible assets 14 77,698 99,092Intangible assets 15 - 27Financial assets 16 10,360 5,107Negative goodwill 17 (9,688) (10,125)78,370 94,101Current assetsDebtors 18 5,508 8,276Cash at bank 19 47,107 38,47752,615 46,753Creditors (Amounts falling due within one year) 20 27,269 32,143Net current assets 25,346 14,610Total assets less current liabilities 103,716 108,711Creditors (Amounts falling due after one year) 21 15,748 16,428Provision for liabilities and charges 24 2 51Pension liability 27 10,941 8,667Net assets 77,025 83,565Capital and reservesEstablishment reserve 25 17,193 17,193Revenue reserves 26 44,149 54,111Revaluation and non-distributable reserves 26 9,721 6,875Capital reserves 26 4,000 3,430Total establishment and other reserves 75,063 81,609Minority interest 28 1,962 1,95677,025 83,565The Statement of Accounting Policies and notes 1 to 34 form part of these financial statements.Denis Brosnan, Roderick Ryan, 6th July 2012Chairperson Vice Chairperson DateHorse Racing Ireland Annual Report 2011 33
Page 1 and 2: Horse Racing IrelandANNUALREPORT201
Page 3 and 4: MISSION STATEMENTTo develop and pro
Page 5 and 6: FINANCE COMMITTEEDenis Brosnan Chai
Page 7 and 8: The Minister for Agriculture, Food
Page 9 and 10: major contributor to the national e
Page 11 and 12: Payments made to Racecourses for va
Page 13 and 14: acecourse turnstiles. Similarly, HR
Page 15 and 16: HRI RACECOURSE DIVISION2011 was the
Page 17 and 18: NavanNavan raced 19 times in 2011,
Page 19 and 20: also continued its association with
Page 21 and 22: Mullins. Ian Ferguson sent out Zems
Page 23 and 24: causing a 25/1 shock in the Group 1
Page 25 and 26: Members AND OTHER INFORMATIONMember
Page 27 and 28: Comptroller and Auditor GeneralRepo
Page 29 and 30: STATEMENT ON INTERNAL FINANCIAL CON
Page 31 and 32: STATEMENT OF ACCOUNTING POLICIES (C
Page 33: GROUP INCOME AND EXPENDITURE ACCOUN
Page 37 and 38: GROUP CASH FLOW STATEMENTFOR THE YE
Page 39 and 40: NOTES TO THE FINANCIAL STATEMENTSFO

ANNUAL REPORT 2011 - Horse Racing Ireland

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