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REGISTERED NUMBER: NI002634 (Northern Ireland)

Financial Statements

for the Year Ended

31 December 2025

for

Downpatrick Race Club

| Downpatrick Race Club (Registered number: NI002634) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Abridged Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Downpatrick Race Club |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Lord B H Dunleath

| Mrs J Maxwell

| Miss A Rea

| Mr C Milligan

| Mr R Nixon

| Mr J Maxwell

| Mr P G Stewart

| Mr G Donnelly

| Mr P J Magill

| Mr S Magee

| Mr N T Chance

| Mr M J Smith

| Mr C McEvoy

| Ms Fitzgerald

| REGISTERED OFFICE: | 24 Ballydugan Road

| Downpatrick

| Co. Down

| BT30 6TE

| REGISTERED NUMBER: | NI002634 (Northern Ireland)

| AUDITORS: | M.B.Mc Grady & Co

| Chartered Accountants

| Statutory Auditors

| Rathmore House

| 52 St Patricks Avenue

| Downpatrick

| Co. Down

| BT30 6DS

| Downpatrick Race Club (Registered number: NI002634) |

Abridged Balance Sheet

31 December 2025

| 31/12/25 | 31/12/24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,350,471 |  | 1,882,508 |  |

CURRENT ASSETS

Debtors | 43,025 |  | 245,430 |  |

Cash at bank and in hand | 275,210 |  | 505,811 |  |

318,235 |  | 751,241 |  |

CREDITORS

Amounts falling due within one year | 213,343 |  | 482,635 |  |

NET CURRENT ASSETS | 104,892 |  | 268,606 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,455,363 |  | 2,151,114 |  |

CREDITORS

Amounts falling due after more than one year | (836,659 | ) | (664,322 | ) |

PROVISIONS FOR LIABILITIES | (27,679 | ) | (30,348 | ) |

NET ASSETS | 1,591,025 |  | 1,456,444 |  |

RESERVES

Members Funds | 1,591,025 |  | 1,456,444 |  |

1,591,025 |  | 1,456,444 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2026 and were signed on its behalf by:

Mr N T Chance - Director

| Downpatrick Race Club (Registered number: NI002634) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Downpatrick Race Club is a private company, limited by guarantee , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

| All members have consented to the abridgements of these financial statements.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Critical accounting judgements and key sources of estimation uncertainty

| Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results.

| The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

| a) Recoverability of debtors

| Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.

| b) Useful economic lives of tangible assets

| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Downpatrick Race Club (Registered number: NI002634) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| All tangible fixed assets are initially recorded at historic cost. This includes legal fees, stamp duty and other non-refundable purchase taxes, and also any costs directly attributable to bring the asset to the location and condition necessary for it to be capable of operating in the manner intended by management, which can include the cost of site preparation, initial delivery and handling, installation and assembly, and testing of functionality.

| Depreciation

| Depreciation is provided on all tangible assets at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Stands and buildings |  | - 2% on cost |  |

| Plant and machinery |  | - 10% on cost |  |

| Motor vehicles |  | - 20% on cost |  |

| The residual value and useful lives of tangible assets are considered annually for indicators that these may have changed. When such indicators are present, a review is carried out of the residual value, depreciation methods and useful lives, and these will be amended if necessary. Changes in deprecation rates arising from this review are accounted for prospectively over the remaining useful lives of the assets.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| The financial statements are presented in Sterling, which is also the functional currency of the company. Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred.

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Downpatrick Race Club (Registered number: NI002634) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Financial instruments

| Cash and cash equivalents

| Cash consists of cash on hand and demand deposits. Cash equivalents consist of short term highly liquid investments that are readily convertible to known amounts of cash that are subject to an insignificant risk of change in value.

| Other financial assets

| Other financial assets including trade debtors arising from goods sold to customers on short-term credit, are initially measured at the undiscounted amount of cash receivable from that debtor, which is normally the invoice price. If payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate, this constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, other financial assets are measured at amortised cost less impairment, where there is objective evidence of impairment.

| Loans and borrowings

| All borrowings by the company are initially recorded at the amount of cash received less separately incurred transaction costs, unless the arrangement constitutes, in effect, a financing transaction, in which case it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, borrowings are stated at amortised cost using the effective interest rate method.

| The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one year or on demand are not

| amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year

| end date.

| Other financial liabilities

| Other financial liabilities, including trade creditors arising from goods purchased from suppliers on short term credit, are initially measured at the undiscounted amount owed to the creditor, which is normally the invoice price. Liabilities that are settled within one year are not discounted. If payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate, this constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, other financial liabilities are measured at amortized cost.

| Impairment of financial assets

| At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial assets that are measured at cost or amortised cost, including unlisted

| investments, loans, trade debtors and cash. If there is objective evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.

| Deferred Capital Grants

| Deferred grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over an estimated useful life of the assets to which they relate.

| Downpatrick Race Club (Registered number: NI002634) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 6 (2024 - 5 ) .

4. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 January 2025 | 2,945,144 |  |

| Additions | 521,902 |  |

| Disposals | (1,750 | ) |

| At 31 December 2025 | 3,465,296 |  |

| DEPRECIATION

| At 1 January 2025 | 1,062,636 |  |

| Charge for year | 53,939 |  |

| Eliminated on disposal | (1,750 | ) |

| At 31 December 2025 | 1,114,825 |  |

| NET BOOK VALUE

| At 31 December 2025 | 2,350,471 |  |

| At 31 December 2024 | 1,882,508 |  |

| Included in cost of land and buildings is freehold land of £ 433,278 (2024 - £ 433,278 ) which is not depreciated.

5. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31/12/25 |  | 31/12/24

£ | £ |

| Bank loans | - |  | 29,701 |  |

| Bank loans and overdrafts are secured by a floating charge on all monies and property of the company as well as a charge over all book debts of the company.

6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Malachy B. T. McGrady FCA

| on behalf of M.B.Mc Grady & Co

7. | CAPITAL COMMITMENTS

| Downpatrick Race Club have capital commitments in relation to a track widening scheme of €1,125,000. Grant funding of 40% is being received from Horse Racing Ireland in relation to same.

| Downpatrick Race Club (Registered number: NI002634) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | RELATED PARTY TRANSACTIONS

| The management of the company is carried out by the voluntary Board of Directors. The Board meet throughout the year and do not receive remuneration.

| No transactions with related parties were undertaken such as required to be disclosed under Financial Reporting Standards.

9. | ULTIMATE CONTROLLING PARTY

| The company does not have an ultimate controlling party but is controlled collectively by the Board of Directors.

10. | COMPANY LIMITED BY GUARANTEE

| The club is a company limited by guarantee. Every member undertakes to contribute such amounts not exceeding £1 to the company's assets if it should be wound up while being a member, or within one year of ceasing to be a member.