ANNUAL REPORT 2011 - Horse Racing Ireland

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