Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697805769945.pdf (Ireland)
TOTE ARENA LIMITED REPORTS AND FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Registered Number 236821 TOTE ARENA LIMITED REPORTS AND FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Contents Directors and Other Information Directors’ Report Report of the Comptroller & Auditor General Statement of Income and Expenditure and Retained Revenue Reserves Statement of Financial Position Notes to the Financial Statements Page 2 3 - 5 6 - 8 9 10 11 - 13 1 TOTE ARENA LIMITED DIRECTORS AND OTHER INFORMATION Directors Mr. N. Hartery (Chairperson) Appointed 21/10/2021 Ms. S. Eade Mr. R. Horan Resigned 31/01/2022 Mr. B. Kavanagh Resigned 24/09/2021 Appointed 31/01/2022 Ms. C. Nolan Appointed 31/01/2022 Ms. C. Rudd Secretary Mr. R. Horan Ms. C. Rudd Resigned 31/01/2022 Appointed 31/01/2022 Deputy Secretary Ms. C. Rudd Ms. S. Eade Appointed 16/02/2021 & Resigned 31/01/2022 Appointed 31/01/2022 Registered Office Auditors Solicitors Horse Racing Ireland Ballymany The Curragh Co. Kildare Comptroller & Auditor General 3A Mayor Street Upper Dublin 1 Byrne Wallace 88 Harcourt Street Dublin 2 William Fry 2 Grand Canal Square Dublin 2 2 TOTE ARENA LIMITED DIRECTORS’ REPORT The directors present their annual report and the audited financial statements for the financial year ended 31 December 2021.
Principal activities and business review The company is a wholly owned subsidiary of Horse Racing Ireland.

The company ceased to trade during 2000.

Prior to that the principal activity of the company was the operation of on course S.P.

betting shops which the company subcontracted to a third party.

Results for the financial year The company did not trade in the financial year or in the previous financial year.
Directors and interests The directors who held office at 31 December 2021 are listed on page 2.

The directors and secretary at 31 December 2021 had no beneficial interests in the share capital of the company or its fellow subsidiaries.

The directors received no fees or expenses in the year (2020: €0).
Statement on relevant audit information The directors believe that they have taken all steps necessary to make themselves aware of any relevant audit information and have established that the statutory auditors are aware of that information.

In so far as they are aware, there is no relevant audit information of which the auditors are unaware.
Accounting records The measures taken by the directors to ensure compliance with the requirements of Section 281 to 285, Companies Act, 2014, regarding adequate accounting records are the implementation of necessary policies and procedures for recording transactions, the employment of competent accounting personnel with appropriate expertise and the provision of adequate resources to the financial function.
The accounting records of the company are maintained at the company’s office at Ballymany, The Curragh, Co. Kildare.

Events since the financial year end There have been no significant events affecting the company since the financial year end.

Principal risks and uncertainties There are no principal risks or uncertainties affecting the company.
3 TOTE ARENA LIMITED DIRECTORS’ REPORT (CONTINUED) Auditors In accordance with Section 383(2) of the Companies Act 2014 and section 13(2) of the Horse and Greyhound Racing Act 2001 the Comptroller and Auditor General will continue as auditor of the company.

Legal status In accordance with Section 55 of the Companies Act 2014, the Company automatically became a Private Company Limited by Shares (LTD) on 1 December 2016.
Directors’ responsibilities statement Irish company law requires the directors to prepare financial statements for each financial year.

Under the law, the directors have elected to prepare the financial statements in accordance with the Companies Act 2014 and generally accepted accounting practice including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” issued by the Financial Reporting Council.
Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the assets, liabilities and financial position of the company as at the financial year end date and of the profit or loss of the company for the financial year and otherwise comply with the Companies Act 2014.
In preparing those financial statements, the directors are required to:     select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business; and disclose and explain any material departures from applicable accounting standards.
The directors are responsible for ensuring that the company keeps adequate accounting records which correctly explain and record the transactions of the company, which enable at any time the assets, liabilities, financial position and profit or loss of the company to be determined with reasonable accuracy, and which enable them to ensure that the financial statements and Directors report comply with the Companies Act 2014 and enable the financial statements to be audited.
They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

4 TOTE ARENA LIMITED DIRECTORS’ REPORT (CONTINUED) Code of Practice for the Governance of State Bodies The Code of Practice for the Governance of State Bodies (2016) requires additional disclosures in relation to certain categories of expenditure.
These requirements have been addressed in the Governance Statements and Statement on internal control within the Group Financial Statements of Horse Racing Ireland.

The company was compliant with the Code of Practice for the Governance of State Bodies in 2021.
Signed on behalf of the Board Nicholas Hartery Director Suzanne Eade Director 19/09/2022 Date 5 TOTE ARENA LIMITED STATEMENT OF INCOME AND EXPENDITURE AND RETAINED REVENUE RESERVES FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Notes Profit on ordinary activities before taxation Tax on profit on ordinary activities 3 Profit on ordinary activities after taxation 2021 € - - ________ - 2020 € - - - Retained profits at 1 January - ________ - ________ Retained profits at 31 December - - Notes 1 to 8 form part of these financial statements The company had no recognised gains or losses in the financial year or the preceding financial year other than those dealt with in the Statement of Income and Expenditure and Retained Revenue Reserves.
The company did not trade during the financial year and preceding financial year and received no income and incurred no expenditure.
The financial statements were approved by the Board of Directors on 19/09/2022 and signed on its behalf by: Nicholas Hartery Director Suzanne Eade Director 19/09/2022 Date 9 TOTE ARENA LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021 Current assets Debtors Net assets Notes 4 Capital and reserves Called up share capital presented as equity 5 Shareholders’ funds 2021 € 12,697 12,697 12,697 12,697 2020 € 12,697 12,697 12,697 12,697 Notes 1 to 8 form part of these financial statements The financial statements were approved by the Board of Directors on 19/09/2022 and signed on its behalf by: Nicholas Hartery Director Suzanne Eade Director 19/09/2022 Date 10 TOTE ARENA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 1.
Accounting policies The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
General information and basis of accounting Statement of compliance The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value in accordance with the Companies Act 2014 and Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council.

The unit of currency in which the financial statements are presented in is Euro.
Tote Arena Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements.

Tote Arena Limited is consolidated in the financial statements of its parent, Horse Racing Ireland, which may be obtained at Horse Racing Ireland, Ballymany, The Curragh, Co. Kildare.
Exemptions have been taken in these separate company financial statements in relation to presentation of a cash flow statement.

Financial Instruments Other financial assets Other financial assets include debtors are initially measured at transaction price and subsequently where necessary, less of any provision for impairment.

Ordinary Share Capital The ordinary share capital of the company is presented as equity.
Exceptional Items In order to highlight significant items within the company results for the year, the company include significant items as exceptional items within the Statement of Income and Expenditure and Retained Revenue Reserves.

Such items may include significant impairment of assets and significant write back of amounts due to group companies.
Judgement is used by management in assessing the particular item, which by virtue of their scale and nature, should be disclosed in the Statement of Income and Expenditure and Retained Revenue Reserves and notes as an exceptional item.
11 TOTE ARENA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the year.
However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Going concern The company ceased trading in 2000 and as at 31 December 2021 has no liabilities.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.
Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.

2.

Statement of Income and Expenditure and Retained Revenue Reserves As explained in the Statement of Income and Expenditure and Retained Revenue Reserves, there were no trading transactions in the financial year.

A nominal audit fee of €1,100 (2020: €1,100) is paid by Horse Racing Ireland.

3.
3.

Taxation No charge for taxation arises as the company did not trade in the financial year.

4.

Debtors Amounts due from group company All debtors are due within one year.

2021 € 12,697 2020 € 12,697 12 TOTE ARENA LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 5.
Called up share capital presented as equity 2021 € 2020 € Authorised 1,000,000 Ordinary shares of €1.269738 each 1,269,738 1,269,738 Allotted, called up and fully paid 10,000 Ordinary shares of €1.269738 each 12,697 12,697 Ordinary Shares The ordinary shares have no rights to fixed income.

6.

Reserves Retained profit includes all cumulative gains and losses recognised in the Statement of Income and Expenditure and Retained Revenue Reserves.

7.
7.

Holding company and related party transactions The company is a wholly owned subsidiary of Horse Racing Ireland which is incorporated in the Republic of Ireland.

Copies of the financial statements of Horse Racing Ireland are available from Horse Racing Ireland, Ballymany, The Curragh, Co. Kildare.
In accordance with the exemption afforded by paragraph 33.1A from the provisions of FRS 102, ‘related party transactions’, there is no disclosure in these financial statements of transactions with wholly owned subsidiaries.

8.

Approval of financial statements The Board of Directors approved these financial statements for issue on 19/09/2022.

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