Welcome jump in profits for Kelso Races

Kelso Races has been attracting big crowds.
Kelso Races has been attracting big crowds.

The company which owns Kelso racecourse – due to stage its first jumps meeting of 2015 on Sunday – recorded increased profits last year.

The abbreviated accounts of Kelso Races Ltd show that, in the year to May 31, 2014, a trading surplus of £244,000 was recorded – compared to £153,000 over the previous 12 months.

And, when reserves are taken into account, shareholder funds for the year rose from £312,000 to £408,603.

The healthy financial picture is a major boost for the Berrymoss venue which hosts 14 National Hunt meetings between September and May and claims to be Britain’s friendliest racecourse.

It has twice been voted the best small course in Scotland and the north of England by the Racegoers Club.

The accounts, lodged at Company’s House, show that the firm, which counts the Duke of Roxburghe among its directors, was able to increase its profits despite an increase in running costs.

For example, the company saw the annual rent it pays to Roxburghe Estates for the course, where racing first took place in 1822, rise by nearly 25% from £32,000 to £41,000 over the year.

And payments for professional services to John Sale & Company (which became Smiths Gore in January 2014 and has course managing director Richard Landale as a partner), topped £161,000 – compared to £150,000 the previous year.