Board Meeting Summary
Meeting Date: Tuesday 10th December 2024
PROJECT PACE – SECOND PHASE OF PREMIER RACING
The Board confirmed funding of £232,500 towards Project Pace, representing 50% of the total cost of phases 1 and 2.
ITV CHAMPIONS: FULL GALLOP – SERIES TWO
The Board confirmed funding of £865,000 towards the production of the second series of Champions : Full Gallop and £250,000 towards future promotional costs associated with the series.
PROJECT BEACON – CONSUMER INSIGHTS
The Board confirmed funding of £484,000 for Project Beacon, a major piece of consumer research.
HBLB ORGANISATIONAL EFFECTIVENESS REVIEW REPORT
The Board considered the Good Governance Institute report on HBLB’s organisational effectiveness and the recommendations within.
CUSTOMER RELATIONSHIP MANAGEMENT EXERCISE: SURVEYS’ RESULTS FROM BETTING AND FROM RACING
The Board considered the results of surveys about HBLB that it had commissioned and it was agreed that an action plan should be developed to address the key findings.
HBLB ANNUAL REPORT AND ACCOUNTS
The Board approved the HBLB Annual Report and Accounts 2023/24.
HORSERACING INDUSTRY PEOPLE BOARD
The Board approved continuity funding for the HIPB Board and Executive team at the current level to 31 March 2025
The Board approved continuity funding for the British Racing School and National Horseracing College for Q4 of 2024/25.
HBLB BUSINESS PLAN 2025-2028 UPDATE
Board members were asked to provide input into the Business Plan with a view to finalising in April 2025.
UK BOARDROOM APPRENTICE PROGRAMME
The Board requested further information on the UK Boardroom Apprentice Programme with a view to considering acting as a host Board in 2026.
MEMBERS’ REGISTER OF INTERESTS
The Board noted the updated Members’ Register of Interests.
BOARD APPOINTMENTS
The Board approved the appointment of Simon Clare to the Remuneration Committee and the grants assessment panel.
AUDIT AND RISK ASSURANCE COMMITTEE TERMS OF REFERENCE
The Board approved revised Audit and Risk Assurance Committee Terms of Reference.
ALLOCATION TO CAPITAL CREDITS 1 JANUARY TO 31 MARCH 2025
The Board approved the Raceday Services transfers to Capital Credits for the period 1 January to 31 March 2025.
The Board approved the Prize Money transfers to Capital Credits for the period 1 January to 31 March 2025.
MANAGEMENT ACCOUNTS TO 31 OCTOBER 2024
The Board approved the Management Accounts to 31 October 2024.
JULIE HARRINGTON LEAVING THE BOARD ON 31 DECEMBER 2024
The Chair expressed thanks and gratitude, on behalf of the whole Board, to Julie Harrington whose last Board meeting this was.