The eventing team won the bronze medal while Tina Cook (pictured) took also finished third in the individual event.

 

But that meant they fell one short of the target set by UK Sport, the Government agency who had given them £11.7 million to prepare for Hong Kong, where the equestrian events were staged.

 

That was a substantial increase on the £4.4 million the BEF had received in the run-up to the 2004 Athens Olympics, when they did win three medals, including a gold for Leslie Law in the eventing.

 

The review will include the full engagement of UK Sport, British Dressage, British Eventing and the British Show Jumping Association.

 

It is a different story at the Paralympics, however, where the BEF's target was eight medals but they ended up with 10, including five gold, setting a new record for the Games.

 

Andrew Finding, the BEF's chief executive, said: “At the Olympic Games we were disappointed to miss the overall medal target.

 

"Nonetheless, there were some highlights that we should celebrate notably Tina Cook’s individual bronze medal and the vventing team bronze.

 

"In the Paralympic Games we congratulate Lee Pearson in winning his ninth gold medal in three successive Paralympic Games and the fabulous performance of the whole Paralympic team to lead the medal table with 10 ahead of Germany with six.

 

"This is simply outstanding."

 

Sending the teams to Hong Kong was a big logistical operation for the BEF.

 

Finding said: “The Olympic and Paralympic effort which involved sending 21 riders, 21 horses and 57 support team members out to Hong Kong was a huge operation.

 

"There are always many factors influencing performance in a project of this size.

 

"To name just two, on the negative side the British team suffered an unusual number of horse injuries both in the run up to the Olympic Games and whilst in Hong Kong.

 

"On the positive side the logistical operations and conduct of the support teams were excellent. 

 

"Our job is now to analyse in detail all aspects of our team performance in order to be clear about the things that affected performance both positively and negatively.

 

"This is an essential part of the process in the pursuit for excellence.

 

"We now have our eyes firmly on 2012 and we will put in place systems and procedures to capitalise on the good and improve on weaknesses."  

 

Things will be different for 2012, of course, when the equestrian events are due, controversially, be staged in Greenwich Park and Finding is looking forward optimistically to the future and is hopeful that the level of funding they receive to prepare for those Games will not be affected by their failure to meet the target in Hong Kong.

 

He said: "I have been asked whether our funding is secure up to 2012.

 

"UK Sport which provides the world class performance and development funding will be assessing our performance on a quarterly basis as usual through their Mission 2012 concept. 

 

"Decisions are made not just on the basis of the medals won from these Games but on athletes’ performance and development, the performance system that sits behind them and the leadership and climate that exists within the sport. 

 

"Essentially, it is now all about our potential to succeed in 2012.

 

"We have an outstanding track record of international success and the continuing success of our young rider, junior and pony teams is an indication of great potential. 

 

"In all age groups our athletes won 37 medals in 2007 and have already won 25 medals at international level this year. 

 

"The operational support we give our horses and riders through the world class team is I believe second to none. 

 

"The levels of professionalism have increased substantially and this could only have happened with the investment made by UK Sport. 

 

"There will be valuable lessons to learn from the imminent review and we will make the necessary changes to ensure success in 2012."