01
President's Report
The 2024 season has been one of contrasting colours for all participants in Victoria and especially for the breeding industry
There have been shining lights and the deeds of the two Victorian-bred trotters Just Believe and Keayang Zahara in both Australia and across the Tasman in New Zealand have provided the brightest of all lights. The trotting breed in Victoria has improved in leaps and bounds over the past decade and there is no doubt that these two horses and others such as The Locomotive would become household names if they raced in the trotting strongholds of Europe and North America
It is pleasing also to acknowledge that the two Inter Dominion Champions for 2024, Don Hugo and The Locomotive, were both bred and raised in Victoria. Victorian-bred horses also excelled at the elite level of Group One races and we acknowledge and congratulate these horses and particularly their HBV member breeders who will be recognised with Group One Performer plaques in HBV’s awards program announced in May 2025 These included Yabby Dam Farms, Peter Gleeson, the Cameron brothers, Benstud Standardbreds, Robert Watson, Ash Hayns and Cahillio Pty Ltd.
Ian Daff was a prolific researcher into the pedigrees of the Standardbred and the three books he published in the 1980s were of enormous assistance to the breeders of Australia in the pre-internet era. In 2005 Harness Breeders Victoria recognised Ian’s contribution to breeding by introducing an annual award in his honour. It is awarded to a member who has made a significant contribution to the breeding industry in Victoria The 2024 award was presented to Pat Driscoll, who is the principal of Yabby Dam Farms and Haras des Trotteurs It would be an understatement to say that Pat’s contribution over the past decade has been significant. His contribution and investment have been monumental – congratulations Pat.
Unfortunately, the second half of the season brought a dark cloud over the industry in Victoria In October HRV announced they were reducing the Vicbred First Win Bonuses from as much as $12,000 for the Pure Bonuses to $5,000 across all three sections of the bonuses. They also abolished any Bonuses that were paid to breeders, so now Victoria is the only State in Australia that doesn’t reward Breeders with any incentives.
Harness Breeders Victoria were actively involved, with other kindred bodies, in conducting six roadshows across regional Victoria, which were all well attended Many recommendations were relayed to HRV and at least one of them – raising the Vicbred First Win Bonus back to $7,000 – was achieved. HBV will remain committed to pursuing the reintroduction of Breeders Bonuses in Victoria to encourage breeding in very difficult times, and most certainly oppose the continuation of the HRA Stallion Levy
John Coffey, HBV President
Secretary's Report
02
I would like to thank both Desiree and the committee for all the work they have done in the past year. I would also on behalf of the committee like to thank all our members who have supported Harness Breeders Victoria and the breeding industry in Victoria.
It has been a challenging year in 2024 for breeding in Victoria with a number of changes being made including cuts in stakes. We look forward to a more positive year in 2025 for harness breeding and racing in Victoria.
Clyde Little, HBV Secretary
2024
Kaye Hartnett
Dr Alistair MacLean
American Ideal (Fake Left - Star Chaser)
Jilliby Kung Fu (Falcon Seelster - Interchange)
Tennotrump (A Go Go Lauxmont - Maori Trump)
VALE
03 Treasurer's Report
I am pleased to report a modest profit for the last financial year. Overall we have been conscious to maintain financial discipline to ensure ongoing financial viability.
From a trend perspective, the costs of producing the Stallion Guide over the last few years has increased and we are conscious of the value to the industry of the publication and the need to maintain relevance in an increasingly online world.
Finally I would like to thank our Executive Officer and fellow committee members for ongoing effort and contribution to Harness Breeders Victoria.
Maurice Hanrahan Treasurer, Harness Breeders
Victoria
Please refer to page 15 onward for the 2024 financials
04
2023 IN REVIEW
Committee
Due to vacancies, Harness Breeders Victoria did not operate with a full twelvemember committee in 2024 We welcomed on board for the first time Dr Hugh Cathels, Pat Driscoll, John Coffey, Lorraine Barnes and Heath Barton who all brought considerable knowledge, skill and insight to your committee. Thanks go to Lorraine and Heath who stepped down mid-season.
Advocacy
In a challenging year, Harness Breeders Victoria were committed to ensuring breeders, the breeding industry and the wider industry were well represented to governing bodies This was done by the committee through liaison with other kindred bodies, attendance at the Victorian Harness Racing Advisory Council (HRAC), Harness Racing Victoria (HRV), the Victorian Racing Tribunal (VRT) and Harness Racing Australia (HRA).
These issues have included:
Requesting parity in foal notification fees for the 2024 breeding season
Budgetary issues within HRV and proposed savings measures
Continued petitioning against HRA’s stallion levy and its impact on the breeding industry
Seeking clarification for studs on the regulation of free returns within stallion limits
Seeking further detail on the timelines applied to appeals within VRT
Continued pressure to reverse decisions made around the use of Altrenogest
HBV continued to monitor horse-specific policy development in regard to the Australian Animal Welfare Standards and Guidelines as a contributor to the initial consultation process.
We were also pleased to add to our collection of resources made available for the industry in regard to maximising breeders’ investments and ensuring the welfare of our breeding stock
Membership
HBV continued to gain efficiencies through the use of an online payment system whereby members can join or renew directly through our website with a credit card. Membership for the 2024 season sat at 360 (down from 402 in 2023) including 16 life members (nine active).
Vicbred First Win Bonus Recognition Program
Thanks to Hygain, we were able to continue to personally recognise the first win of every Vicbred horse with a tailored postcard celebrating the payment of a First Win Bonus in 2024 Over 900 individual mailings were undertaken to horses who secured their maiden victory and each month, the breeder who had produced the most number of horses to do so was given special recognition through our Hygain Vicbred Bonus Breeder of the Month promotion.
Social Media & Online Presence
HBV continued to grow its online presence and engage with breeders through a regularly updated website and social media streams via Facebook, Instagram, Twitter, and new for 2024, Bluesky Facebook reached 3,500 organic followers this season, more than double that of interstate breeding bodies These platforms continue to be useful in sharing information with both our members and the wider industry.
Breed To Succeed
Sponsored by Harness Racing Victoria, the 2024 Breed to Succeed series was again delivered in accessible digital format, a mix of live and pre-recorded segments created by Campbell’s Comments and aimed at educating and inspiring breeders
Dr Hugh Cathels on how to prepare for a successful foaling down and the importance of early handling Why We Breed with Jess Tubbs and Stephen Clarke, two younger breeders talking about what it is they love about breeding standardbreds in Victoria Pedigree Matching Case Studies with Brett Coffey and Nick Hooper discussing the resources and process used in finding the right mate for your mare.
Vicbred Stallion Preview talking to the Victorian studs offering sires for the 2024 season
2024 Season IRT Victorian Breeder Awards
Perhaps best known for the exploits of Leap To Fame, Paul Kahlfeldt’s Redbank Lodge had a stellar season in 2023 and even without that horse’s results (as a non-Vicbred eligible runner), the products of Paul’s breeding program saw him collect the Woodlands Stud Victorian Breeder of the Year Of the nine Redbank-bred runners to race in 2023, Swayzee was a standout, but War Dan Buddy, Rocket Boy, Zenxena, Redbank Molly, Sahara Jewel and Bulletproof Kid all recorded wins to bring the average of his nine starters to an incredible $137,000.
The Aldebaran Park Victorian Trotting Broodmare of the Year was claimed by Ash Hayne’s Justa Phoenix who produced winners Arcee Phoenix and Querencia, between them collecting over $156,000 in stakes, while the Benstud Standardbreds Victorian Pacing Broodmare of the Year was taken out, rather appropriately, by the Benstud mare Coppagoodone, the dam of Catch A Wave and Yambukian who earnt over $877,000 in 2023
HBV was pleased to announce Pat Driscoll of Haras des Trotteurs and Yabby Dam Farms as the 2024 Metro Print Ian Daff Memorial Award recipient. Since 2014, this award has recognised significant and tenured contributions and service to the broader Victorian breeding industry and Pat joins such luminaries as Mick Lombardo, Graham & Helen Head and Kevin Newbound in being recognised in this way
Breeders recognised for their Vicbred horses being awarded Victorian Horse of the Year in their respective categories were Peter Gleeson (Very Pretty), Bruce & Craig Cameron (Petracca), Yabby Dam Farms (Just Believe, The Locomotive & Gardena Ronda), Benstud Standardbreds (Catch A Wave), Lauriston Bloodstock (Honolua Bay & Ladies In Red)
For a full table of the Vicbred results produced by our member breeders in 2023, refer to page 13
Harry & Ash Haynes with Paul Campbell (Justa Phoenix, Aldebaran Park Victorian Trotting Broodmare of the Year)
Harness Breeders Victoria Sponsorships
HBV were pleased to continue and inaugurate a number of sponsorships across the season.
Humbletonian Day
The 2024 edition of the all-maiden, all-Vicbred Humbletonian was another success, with HBV partnership for the 12th year to sponsor the meeting at Maryborough Harness Racing Club With a nine-race program and big fields, the day – as always – delivered plenty of excitement, highlights and great stories. Congratulations to the connections of all nine winners, especially the breeders who received our $250 cash bonus including members Maree Caldow, Helen Friend, Aaron Dunn, Frank McGrath and the O’Connors
All Breeds Show Society Spring Carnival Show
HBV were proud to support legacy initiatives like the Standardbred breed open ring at the All Breeds Spring Carnival Show in November.
Congratulations to Casey McCulloch and Distinctive Miss (Rock N Roll HeavenMystery Moment - Badlands Hanover, bred by Neville Cranston) who were presented as the Harness Breeders Victorian Supreme Champion Led Standardbred.
Yearling Sales 2024
HBV were able to support member-vendors by showcasing their lots through our social media channels, promote photos and results from both sale days and support the Best Presented program
As a move to reward, encourage, educate and retain those within the breeding industry, HBV were pleased to award the following winners, judged from all lots on set criteria:
Trotting Filly Winner: APG - Helpisontheway x Aldebaran Turnpike (Oxley Farm), Nutrien - Pastor Stephen x Yankee Princess (Neville & Louise Pangrazio and Malcolm Shaw)
Trotting Colt Winner: APG - Elite Stride x Pinevale Monnaie (Teela Park), Nutrien - Love You x I Choose (Benstud Standardbreds for Harshell Investments)
Pacing Filly Winner: APG - Sweet Lou x Piece of My Heart (Grand Lodge for Michelle Wardle), Nutrien - Art Major x In Her Memory (Denis & Jo Howe of Mataranka Park)
Pacing Colt Winner: APG - Art Major x Sahara Miss (Annie Dalton for Bruce Paul & Peter Watkinson), Nutrien - Bettors Delight x La Vitesse (Benstud)
The IRT Australasian Standardbred Stallion Guide
The 29th edition of the IRT Australian Standardbred Stallion Guide was published in 2024 and send to thousands of households across Australia and New Zealand. Featuring seventy pacing and trotting stallions available to Australian breeders, this year it spanned over 156 pages It included a feature on first season sires, futurities scheme details, an information piece on breeding technology, and breeding statistics from the 2023 breeding season
The committee offers its thanks to Sally McPherson who again took on the editorship of this much-anticipated publication in 2024 and was cornerstone to its successful production The Guide remains a fundamental part of HBV’s budget each season
Foal Quest 2024
After ten years of our annual competition to find a cover image for the Stallion Guide from the latest Vicbred crop, 2024 saw a change in the way the final photo was selected. While the Metro Printing graphic design team still delivered their shortlist, with thanks to Alabar we were able to welcome a very special judge in Art Major to choose the final image
The six finalists were printed out and placed on buckets which in turn were spread across Art Major’s paddock at the farm near Echuca, and a handful of carrots placed on top of each. The statesman sire was then reintroduced to his paddock and the first bucket he approached featured the image of Aldebaran Park’s colt from Endsino by Muscle Mass. Congratulations to the Aldebaran team on submitting this beautiful photo Other finalists were Durham Park’s Mollys Ideal x Downbytheseaside foal, Lauriston Bloodstock’s Vegas Diamond x Rock N Roll Heaven foal, the Cormack family’s Cowgirlsnlace x Art Major foal, Tony Dumesny’s Christian Party x Art Major foal, and the Old family’s Aldebaran Shelly x Majestic Son foal
The video Art Major making his selection and some behind-the-scenes snippets can be found on the HBV website and Facebook Page HBV thanks everyone who entered photos into the 2024 competition, and Alabar for making their champion stallion available
05 2024 FINANCIALS
HARNESS BREEDERS (VIC) INC
A.B.N. 98 462 323 765
ANNUAL REPORT 1 JANUARY - 31 DECEMBER 2024
HARNESS BREEDERS (VIC) INC
A.B.N. 98 462 323 765
ANNUAL REPORT - 31 DECEMBER 2024
Harness Breeders (Vic) Inc.
Harness Breeders (Vic) Inc.
Harness Breeders (Vic) Inc.
Statement of cash flows for the year ended 31 December 2024 31 December 2024 31 December 2023 Note $ $
Cash from operating activities
Receipts from customers
Payments to suppliers and employees (127,562) (168,653)
Interest received 8 39
Net cash provided by/ (used in) operating activities 8(b) (12,951) (12,947)
Cash flows from investing activities
Net cash provided by/ (used in) investing activities - -
Cash flows from financing activities
Net cash provided by/ (used in) financing activities - -
Net increase/(decrease) in cash held (12,951) (12,947)
Harness Breeders (Vic) Inc.
Notes to the financial statements for the year ended 31 December 2024
1. Statement of significant accounting policies
a) Statement of compliance
The committee has determined that the incorporated association is not a reporting entity because there are no users dependent on general purpose financial statements. The financial report is a special purpose financial report which has been prepared in order to satisfythe financial reporting requirements of the Associations Incorporation Reform Act 2012.
These financial statements have been prepared in accordance with following Australian Accounting Standards:
AASB 101 Presentation of Financial Statements
AASB 107 Statement of Cash Flows
AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors
AASB 1031 Materiality
AASB 1048 Interpretation of Standards
AASB 1054 Australian Additional Disclosures
As Harness Breeders (Vic) Inc is a Tier 1 organisation under the Associations Incorporation Reform Act 2012, it is not required to have its financial statements audited or reviewed, unless Members require the audit to be performed.
b) Basis of measurement
The financial statements have been prepared on an accrual basis and are based on historical cost and do not take into account changing money values except where specifically stated.
The accounting policies set out below have been applied consistently to all periods presented in these financial statements.
c) Property, plant and equipment
Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulated depreciation and impairment losses.
Depreciation
The depreciable amount of all fixed assets is depreciated on a declining balance basis over the asset’s useful life to the association commencing from the time the asset is held ready to use.
d) Impairment
At each reporting date the committee assesses whether there is objective evidence that a financial instrument has been impaired. If any such indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the income statement.
e) Income tax
The association is a not-for-profit organisation and is exempt from income tax under section 5045 of the Income Tax Assessment Act 1997
f) Cash and cash equivalents
Cash and cash equivalents include cash on hand, deposits, held at call with banks, other shortterm highly liquid investments with original maturities cash within three months.
g) Revenue
Revenue is measured at the fair value of the consideration received or receivable.
Interest revenue is recognised as interest accrues, using the effective interest rate method.
h)
Employee Benefits
Provision is made for the Association's liability for employee benefits arising from services rendered by employees to the end of the reporting period.
Employee benefits expected to be settled wholly within 12 months together with benefits arising from wages, salaries and annual leave which may be settled after 12 months, which have been measured at the amounts expected to be paid when the liability is settled. Other employee benefits payable later than one year have been measured at the net present value.
Contributions to defined contribution superannuation plans are expensed when incurred.
i) Goods and services tax (GST)
Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO). In these circumstances the GST is recognised as part of the cost of acquisition of an asset or as part of an item of expense. Receivables and payables are stated inclusive of GST.
Cash flows are presented in the Statement of Cash Flows on a gross basis, except for the GST component of investing and financing activities which are disclosed as operating cash flows.
j) Trade creditors and other payables
Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period, which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days on recognition of the liability.
k) Trade receivables
Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30 days and are therefore all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they hold significant financing components, when they are recognised at fair value. The association holds the trade receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortised costs using the effective interest rate method.
l) Provisions
Provisions are recognised when the Association has a legal or constructive obligation, as a result of past events, for which it is probable than an outflow of economic benefits will result and that outflow can be reliably measured. Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.
Harness Breeders (Vic) Inc.
m) Critical Accounting Estimates and Judgements
The Committee evaluate estimates and judgements incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data obtained both externally and within the Association.
The Association did not have any significant accounting estimates or judgements that required any further disclosures during the year.
2.
3 Profit from Ordinary Activities
4.
5.
6. Provisions
Harness Breeders (Vic) Inc.
Provisions
7. Retained Profits and Reserves
8. Cash flow information
Reconciliation of
Harness
9. Remuneration of Members
The Members receive no remuneration or benefits. Expenditure incurred in the course of carrying out their responsibilities are reimbursed as incurred.
11. Related parties
There were no related party transactions conducted during the year.
The names of the Committee Members throughout the period end and at the date of this report are:
Full Year
J Coffey
M Hanrahan
C Little
Dr H Cathels
S McPherson
I Stanley
P Driscoll
Part Year
L Barnes
H Barton
Harness Breeders (Vic) Inc.
Statement by Members of the Committee
The Committee has determined that the Association is not a Reporting Entity and that this Special Purpose Financial Report should be prepared in accordance with the Accounting policies outlined in Note 1 of the Financial Statements.
In the opinion of the Committee, the Financial Report as set out on pages 2-11:
1. Presents a true and fair view of the financial position of Harness Breeders (Vic) Inc as at 31 December 2024 and its performance for the 12 months ended on that date.
2. At the date of this statement, there are reasonable grounds to believe that Harness Breeders (Vic) Inc willbeableto pay its debts asand when they falldue.
Thisstatementismadeinaccordance withaResolutionof the Committeeandissignedforand behalf of the Committee by:
Dated this 8th day of March 2025