How are the finances organised?

Three accounts are kept. Information on all these accounts are available on our website in the 'Members' section, including the records of all costs and income.

The bloodstock account is used for the purchase of thoroughbreds and is financed by Owners initial one-time payments and further contributions from the prize money if necessary (please see below)..

The operational account is used for the ongoing expenses related to the costs of the string of race horses and any other direct costs incurred by The Racing Guild. Other than the costs of maintaining the race horses, no more than 6% of the monthly contributions will be used on any of the guild's expenses. These will all be detailed on the website. The Committee offer their services at no cost to the Guild.

The prize money account is used to retain all prize money received by the guild associated with wins and places achieved at the races by our horses. The money in this account is shared by the owners at the end of each flat-racing season, but 20% (up to a maximum of £80,000) will be retained for the bloodstock account. The prize money share-out will be based pro rata on the length of time an Owner has been part of the guild for the previous season. Obviously a new Owner who has only been with the guild for a couple of months will have paid less monthly subscriptions than Owners who have subscribed for a whole year.

If, for any unforseen reason, the monthly contributions are less than the outgoings on legitimate costs and expenses, this short fall may be taken from the prize fund or augmented by interest free loans from the Committee.

The guild also actively seeks sponsorship opportunities for our race horses. As a general rule, this sponsorship money is considered as part of the Operational Account.

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