Steve Gofton

Financial leader with over 20 years post qualified experience in a multi-site management consultancy company (Sport). Experienced in Sport, Media, FMCG and Hospitality sectors with Middle East exposure, Core competencies are in Finance & Management Strategic Planning, Financial Management, Controls, Budgeting & Forecasting, Business & Operational analysis, Performance Metric Management, Capital Budgeting & Planning, Investment Analysis, Asset & Portfolio Management, Tax Planning, Treasury Management, Corporate Finance, Financial Restructuring, Board level communications, Financing & Banking Relationships, IT and Project Management.

FINANCE DIRECTOR, International Racecourse Management Ltd, UK                       OCT 00 - DATE 

Summary:  IRM Ltd is an International Management and Consultancy Company, which has successfully operates racecourses both in the United Kingdom and Overseas. The turnover for the UK sites totals £20m.

• New role when joined the organisation, initial remit was to identify and set up all systems, software, reporting and staff recruitment across the sites.
• Responsible for the overall reporting of the finances. 
• Position reports to the 4 racecourse’s board of directors and group chief executive.
• Providing Board (16 per year) & AGM (4 per year) oral and written presentations.
• Analysing and constructing of Management packs and KPIs, assessing avenues to further generate business growth. 
• Detailed, accurate and fast yearend packs for submission to the auditors reducing statutory accounts turnaround and audit fees. Established strong confidence by the auditors that all relevant controls are in place.
• Strong interpersonal relationships and primary contact with key stakeholder, banks, auditors, governing body plus major suppliers and customers.
• Managing group treasury functions as well as capital, cash flow reporting, anticipating events, & implementing a hedging strategy, multi-currency
• Constant examination of capital allowances making full use of all available including 130% super deduction 
• Oversee the financial element of major investment projects, up to £10m, raising capital, strong and precise cash flow forecasting.
• Lead reviewer of all commercial loans
• Negotiation with auditors to ensure strongest balance sheet possible.
• Examination of costs, permanently seeking economies of scale, including a change of auditor when considered necessary.
• £400k Corporation tax saved through successfully arguing correct contract interpretation on fixture sale.
• Actively participated with each racecourse management team in increasing turnover and profitability.
• IT project management lead – Installation of site wide Wi-Fi / Pool betting and new EPOS systems costing £600k across 4 sites.
• Responsible for all IT including implementations and upgrades. 
• Possessing management & operation accountability for staff in the finance department.
• Responsible for maintaining staff morale, training, providing effective leadership, management of the finance team and directly influence the wider leadership to facilitate performance improvements. Managing a team of 5 across 5 locations
• Credit control when necessary, with difficult customers.
• Instigated 2 rights issues which were both fully subscribed.
• Integrated the financial systems, controls and reporting of Thirsk racecourse to adhere to current practices within the group.
• Established new a new financial system in Bahrain, including training of staff to make best use. Sympathetic to cultural differences.
• Part of the team in negotiating multi million pound sale of land to a major supermarket.
• Member of the senior team in obtaining planning permission of an all weather track
• Successfully argued for a £100k refund for bank mis selling of financial products
• Maintained robust insurance documents leading to £560k business interruption insurance claim through the Covid period.
• Experience of multiple HMRC (VAT/PAYE) inspections, successfully arguing numerous benefits in kind issues.
• Member of the Audit Committee – Britbet LLP, a Pool betting company owned by 54 racecourses.
• Member of the Audit and Risk Committee – Racecourse Media Group
• Company Secretary of Independent Racecourses Consortium LLP, a group of 15 independent racecourses across UK used to strengthen media rights agreements.
• Packages used: Sage, highly proficient in Microsoft Excel.

Qualified accountant (United Kingdom) 1999