New Partnership - Only two shares remaining!

Details: Created on Tuesday, 06 October 2015 14:41

Launch of an exciting new Partnership

We are in the process of setting up a new partnership for racing in 2016 and beyond.

Our previous ventures with the Calm Again and Chestnuts partnerships have produced two crackerjacks with Calm Attitude and Headline News, who between them have won almost £80,000 and nine races.

Three yearlings will be purchased in Autumn 2015. We will create 4 x 25 per cent interests for the partnership as a whole, which can be split up further between friends/colleagues depending on the level of interest required or preferred.

Costing

1) £15,000.00 plus VAT per 25% share x 4 shares

2) £1500.00 per month plus VAT per share for training fees, farrier, all supplements , basic veterinary and UK travel.

Exceptional veterinary and foreign racing including any group/classic entries will be charged at cost or paid directly to the supplier from the Weatherbys account.

The fixed price of £1500.00 per month will be applied to the first two years of the partnership being in operation. A review at the end of the first season will take place and a decision made at that point as to any changes that need to be made (which horses to keep etc).

Operation

A Weatherbys bank account will opened in the name of the new partnership if required. Payments for deposit for purchase and training fees to be made into the Weatherbys account at the appropriate time.

VAT collection will be undertaken by Weatherbys, which has been proven to be a very straight forward process and particularly useful when recovering VAT on the purchase price of bloodstock.

After an initial deposit into the bank account, VAT refunds on training fees and other direct costs should be sufficient for the operation of the bank account – i.e. covering race entries, heath taxes etc.

Overview

With interests in three horses, the new venture should, in time, provide many opportunities to go racing. We already have definite interest from two existing parties.